IMF projects India to grow 6.6% in 2025, cuts projection for next year (The Hindu)
The IMF has raised India’s 2025 growth forecast to 6.6%, crediting strong first-quarter performance that offset the impact of U.S. tariffs, while slightly lowering the 2026 projection to 6.2% as momentum fades. Global growth is expected to inch up to 3.2% this year, with the IMF noting that the recent tariff shock has been milder than expected thanks to exemptions, new trade deals, and resilient supply chains. However, the Fund warned that renewed trade tensions and potential supply chain disruptions could dampen next year’s global output by 0.3%, keeping the overall outlook fragile.
Meghalaya Second Fastest-Growing Economy In India After TN: CM (The Times of India)
Meghalaya has emerged as India’s second fastest-growing economy after Tamil Nadu, maintaining an average annual growth rate of around 10% over the past three years. Chief Minister Conrad K. Sangma credited this progress to major investments in education—over ₹3,654 crore allocated—and structural reforms such as a new salary system for teachers to strengthen the sector long-term. Highlighting the state’s focus on welfare, infrastructure, and youth development, he urged communities to nurture young talent through sports, music, entrepreneurship, and social engagement.
Trump claims PM Modi assured him India will stop buying Russian oil (Business Standard)
US President Donald Trump announced that Prime Minister Narendra Modi has assured him India will stop buying oil from Russia, calling it a “big step” in efforts to cut Moscow’s war funding. He said the decision is part of a broader diplomatic campaign to curb Russia’s energy revenues amid the Ukraine conflict, adding that he now aims to pressure China to follow suit. Praising Modi as a “great friend” and India as a stable and reliable partner, Trump also said he was pleased with recent diplomatic exchanges while reiterating his call for President Putin to end the war.
UK slaps 90 sanctions on Russian firms, Nayara Energy to curb Kremlin funds (Business Standard)
The UK has imposed 90 new sanctions on Russian oil companies and India’s Nayara Energy, accusing the latter of importing over $5 billion worth of Russian crude in 2024 to help fund Moscow’s war. The measures, part of a broader Western effort to choke off Kremlin revenues, also target Rosneft, Lukoil, Chinese oil terminals, and “shadow fleet” tankers moving Russian oil globally. Nayara, which is partly owned by Rosneft, has rejected the accusations as politically motivated and said the sanctions—now from both the UK and EU—are disrupting its exports, shipping, and refinery operations, forcing it to seek support from the Indian government.
