Prime Minister Narendra Modi met Gujarat Governor Acharya Devvrat, Jharkhand Chief Minister Hemant Soren, and MLA-elect Kalpana Soren on Tuesday.

PM Modi marked the seventy-fifth year of the Indian Constitution at the Supreme Court and reaffirmed commitment to counter terrorism on the anniversary of the Mumbai attacks.

Parliamentary affairs

Opposition demands constitutional debate citing recent communal tensions: Opposition leaders, including Mallikarjun Kharge and Rahul Gandhi, called for a two-day debate in Parliament on the Constitution, referencing recent communal violence in Sambhal and concerns over justice, liberty, and fraternity.

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Waqf bill panel may seek extension for report: The parliamentary committee scrutinising the Waqf (Amendment) Bill is expected to discuss proposed amendments today, with an extension likely for its report due Friday.

Rajya Sabha bypolls set for December 20: Bypolls to six Rajya Sabha (Council of States, upper house) vacancies across Andhra Pradesh, Odisha, West Bengal, and Haryana will take place on 20 December.

Government plans 100% FDI and unified licence for insurers: Reuters reports that finance ministry officials are preparing to table amendments to insurance laws in the ongoing Parliament session to allow 100% foreign direct investment (FDI) and a unified licence for insurers, pending a final decision by the political executive.

RBI confident in managing trade shock

RBI ready for global trade shocks amid Trump's tariff plans: Reserve Bank of India (RBI) Governor Shaktikanta Das cited “protectionism” and “tariffs” as risks to financial stability but affirmed that $658 billion forex reserves can manage spillover effects, despite the rupee sliding to 84.50 per US dollar after foreign outflows.

Russia leads as top crude supplier, ethanol blending surges: Minister for Petroleum and Natural Gas Hardeep Singh Puri stated Russia supplies over 35% of India's crude oil, with ethanol blending in petrol at 16% in 2024, targeting 20% next year.

Jaishankar and Blinken meet in Italy

Jaishankar and Blinken discuss global issues and partnership in Italy: External Affairs Minister S Jaishankar and US Secretary of State Antony Blinken met in Fiuggi, Italy, during the G7 Foreign Ministers' Meeting, discussing global developments and bilateral cooperation.

Rajnath Singh to visit Russia for frigate ceremony and talks: Defence Minister Rajnath Singh will visit Moscow and Kaliningrad from 8-10 December to meet his Russian counterpart and attend the flag-raising ceremony of a $950 million Project 11356 frigate, TASS reported.

Riyadh treaty to simplify global design protection: India signed the Final Act of the Riyadh Design Law Treaty, advancing streamlined industrial design registration and supporting startups and small businesses with simplified global procedures.

India inks $2 million solar project deal with Indo-Pacific nations: The Ministry of External Affairs signed a $2 million agreement with the International Solar Alliance (ISA) for solar projects in Fiji, Comoros, Madagascar, and the Seychelles, focusing on cold storage, healthcare, and irrigation.

Defence talks with Tanzania: India and Tanzania's Joint Defence Cooperation Committee (JDCC) met in Goa to discuss training, maritime collaboration, and defence industry ties.

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UK ready to restart FTA negotiations, says high commissioner: Indian High Commissioner to the United Kingdom, Vikram Doraiswami, stated that the new UK government has completed its internal review and is prepared to restart Free Trade Agreement (FTA) negotiations in 2025.

EU unlikely to exempt CBAM for India in FTA talks: The European Union is unlikely to exempt India from its Carbon Border Adjustment Mechanism (CBAM) in free trade agreement talks, instead offering alternatives like capacity building and funding, with the next negotiation round set for early 2025.

SoftBank’s Son to meet PM Modi

SoftBank founder likely to meet PM Modi: According to Reuters, SoftBank Group founder Masayoshi Son is likely to meet PM Modi today after discussing artificial intelligence opportunities with Reliance chairman Mukesh Ambani on Tuesday.

JSW Steel, SAIL consider Mongolian coal imports: JSW Steel and Steel Authority of India Limited (SAIL) plan to import 77,500 metric tons of Mongolian coking coal via Russia or China, seeking cost-effective alternatives to Australian supplies.

Fitch and Moody’s cut Adani Group outlooks to negative: Fitch Ratings and Moody's have downgraded their outlooks on multiple Adani Group entities to negative, citing governance concerns and potential funding challenges following US charges against Gautam Adani for bribery and fraud.

Adani Green Energy denies impact of TotalEnergies pause: Adani Green Energy Limited (AGEL) has dismissed reports that French energy giant TotalEnergies has halted new financial commitments following the US Securities and Exchange Commission (SEC) allegations. AGEL says this will not affect its operations or growth plans.

Telecom operators gain relief from pre-2022 spectrum bank guarantee rules: Telecom operators and infrastructure providers, including Bharti Airtel, Reliance Jio, and Vodafone-Idea, welcomed the Cabinet's decision to waive bank guarantees for spectrum bought before 2022, unlocking capital worth hundreds of crores (approximately $100 million) for network upgrades and expansion.

Eknath Shinde resigns

Shinde resigns as BJP deliberates on Maharashtra CM post: Eknath Shinde stepped down as Maharashtra Chief Minister as the Bharatiya Janata Party (BJP)-led alliance, holding a majority in the 288-member Assembly, debates between Devendra Fadnavis and Shinde for the top position.

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Essar co-founder Shashikant Ruia passes away: Shashikant Ruia, co-founder of metals-to-technology conglomerate Essar, passed away in Mumbai on Monday after a prolonged illness.

Andhra Pradesh may halt Adani solar deal over bribery allegations: Andhra Pradesh may suspend its power purchase agreement for 7,000 MW of solar power with Adani Group, citing bribery allegations against founder Gautam Adani, and has sought a federal probe, according to Reuters.

Raipur set for global air cargo connectivity

Raipur to host international air cargo hub after decade-long wait: Chhattisgarh's Swami Vivekanand Airport in Raipur is set for an international air cargo hub and new flight links to Singapore and Dubai, as Civil Aviation Minister Kinjarapu Rammohan Naidu reviews the proposal.

Hyderabad firm to launch AI lab in space on PSLV mission: TakeMe2Space, a Hyderabad-based space tech firm, will launch MOI-TD (My Orbital Infrastructure - Technology Demonstrator), India’s first AI lab in space, in mid-December aboard ISRO's Polar Satellite Launch Vehicle (PSLV) C60, enabling real-time data processing in orbit to reduce costs and latency.

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