"Latest Indian News Today: Breaking Updates on Politics, Economy, and Sports | Trending Headlines & Analysis"

As of April 2, 2025, India is witnessing significant developments across various sectors, including trade, legislative reforms, economic appointments, and public safety. Here's an in-depth look at the day's top news stories:

International Trade: India's Strategic Tariff Reductions

In a strategic move to facilitate a trade agreement with the United States, India has decided to lower tariffs on electric vehicles (EVs). This decision comes despite resistance from domestic automakers who had advocated for a phased reduction by 2029. The immediate tariff cuts are expected to benefit U.S.-based companies like Tesla, which plans to enter the Indian market. However, local manufacturers such as Tata Motors and Mahindra & Mahindra express concerns about potential impacts on their competitiveness. This initiative aligns with India's goal to increase EV sales from the current 2.5% to 30% by 2030.

Legislative Developments: Waqf Amendment Bill Sparks Debate

India's parliament is currently debating the Waqf Amendment Bill, introduced by Prime Minister Narendra Modi's government. The proposed legislation aims to amend laws governing Muslim endowments (waqfs) by incorporating non-Muslims onto waqf boards and enhancing governmental oversight. Proponents argue that these changes will combat corruption and promote diversity. However, critics fear that the bill could undermine Muslim rights and lead to the confiscation of historic mosques and properties. The bill has ignited significant controversy and is viewed by some opposition parties and Muslim groups as a politically motivated move to weaken minority rights.

Economic Appointments: Poonam Gupta Named Deputy Governor of RBI

Poonam Gupta, a former economist with the World Bank and International Monetary Fund, has been appointed as the new deputy governor of India's central bank for a three-year term. Currently serving as the Director General of the National Council of Applied Economic Research and a member of Prime Minister Modi’s Economic Advisory Council, Gupta brings extensive experience to the role. Her appointment comes at a time of sluggish economic growth and global uncertainties. Gupta is expected to join the six-member monetary policy committee and has advocated for a reevaluation of inflation targeting, suggesting a more flexible approach to the rupee's exchange rate.

Public Safety: Tragic Firecracker Factory Explosion in Gujarat

A devastating explosion occurred at a firecracker warehouse on the outskirts of Deesa town in Banaskantha district, Gujarat, resulting in the deaths of at least 21 workers and injuring six others. The incident has raised concerns about safety regulations and enforcement in such facilities. Prime Minister Narendra Modi announced an ex gratia payment of ₹200,000 to the next of kin of the victims, while Gujarat's Chief Minister Bhupendra Patel pledged ₹400,000 to the families of the deceased and ₹50,000 to the injured.

Market Movements: Power Grid Corporation's Stock Performance

Shares of Power Grid Corporation of India Ltd. experienced a decline of 0.88%, closing at ₹286.70. This downturn occurred despite a generally positive session for the stock market, with the BSE SENSEX Index rising by 0.78% to 76,617.44. The company's stock is currently 21.71% below its 52-week high of ₹366.20, reached on September 25th. In contrast, competitors such as Tata Power Co. Ltd. and Gujarat Industries Power Co. Ltd. saw gains of 0.93% and 1.19%, respectively.

These developments reflect the dynamic nature of India's current socio-economic and political landscape, with significant implications for domestic and international stakeholders.