INTERNATIONAL NEWS

India–Russia ITPS Agreement

• India Post and Russia Post signed a new International Tracked Packet Service (ITPS) agreement on 5 December to boost cross-border postal collaboration.

• The Ministry of Communications called the partnership a major step toward deepening postal and logistics cooperation between the two countries.

• Through ITPS, India Post will provide exporters with trackable international packet services at competitive prices.

• The initiative aims to enhance the cost advantage and market reach of Indian products entering the Russian market.

• Beneficiaries include MSMEs, artisans, start-ups, and rural entrepreneurs, who depend on affordable global logistics.

• The agreement will facilitate easier access for Indian sellers to Russian online marketplaces with more reliable and timely deliveries.

• Both nations signaled their shared intent to strengthen bilateral trade and digital commerce ecosystems.

• ITPS is designed to offer a low-cost, dependable, and trackable logistics route for small-value consignments, improving export efficiency.

Key Outcomes of the 23rd India–Russia Annual Summit

• India and Russia exchanged 16 cooperation agreements, spanning defence, trade, economy, health, education, culture, and media.

• Prime Minister Modi and President Putin held talks during the 23rd Annual Summit in New Delhi, reaffirming strategic partnership.

• Modi highlighted that global solidarity is essential to counter extremist and violent threats worldwide.

• Both sides are pushing to finalise the Free Trade Agreement with the Eurasian Economic Union at the earliest.

• India plans to introduce a 30-day free e-tourist visa and a 30-day group tourist visa exclusively for Russian nationals.

• Russia agreed to join the International Big Cat Alliance by adopting its Framework Agreement.

• The leaders jointly condemned the terror attacks in Pahalgam (J&K) and the Crocus City Hall attack in Russia.

• Modi and Putin also co-chaired the India–Russia Business Forum, underlining the intent to speed up FTA talks and expand economic ties.

NATIONAL NEWS

India Commemorates the 70th Mahaparinirvan Diwas of Dr. B.R. Ambedkar

• India marked the 70th death anniversary of Dr. B.R. Ambedkar on 6 December 2025, honouring his enduring legacy.

• The Dr. Ambedkar Foundation, under the Ministry of Social Justice, organises this observance annually.

• The day recalls seven decades since the passing of Ambedkar, who shaped India’s constitutional framework.

• Tributes highlighted his role as a visionary reformer, eminent jurist, and national leader.

• Senior leaders paid homage at Prerna Sthal within the Parliament complex.

• Ambedkar’s philosophy of justice, equality, and democratic values continues to influence the nation’s progress.

• The government’s mantra of Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas aligns closely with his ideals.

• Ambedkar chaired the Constitution’s Drafting Committee, served as Law Minister (1947–1951), received the Bharat Ratna in 1990, and was laid to rest at Chaitya Bhoomi after his demise on 6 December 1956.

BANKING NEWS

India’s GDP Outlook Raised by RBI

• RBI revised India’s GDP growth estimate for 2025–26 to 7.3%, higher than the earlier projection of 6.8%.

• The upgrade reflects better farm sector prospects, easing inflation, GST adjustments, and stronger financial sector health.

• Governor Sanjay Malhotra described the current phase as a “Goldilocks moment”, citing robust 8.2% Q2 growth and low 1.7% inflation.

• Stable inflation trends, ongoing GST simplification, and supportive monetary conditions are expected to keep growth momentum intact.

• Service exports are projected to stay strong, though goods exports may encounter some global challenges.

• RBI expects real GDP to grow 7.0% in Q3 and 6.5% in Q4 of 2025–26, while the first two quarters of 2026–27 are pegged at 6.7% and 6.8%.

• The early half of 2025–26 gained from tax reforms, affordable crude prices, public sector capex, and sturdy domestic consumption.

• High-frequency trends indicate that Q3 activity remains resilient, powered by festival demand, GST benefits, and improving rural–urban consumption patterns.

SUMMIT AND CONFERENCE

EARTH Summit 2025: Key Highlights from Gandhinagar

• The EARTH Summit 2025 was inaugurated in Gandhinagar by Union Home and Cooperation Minister Amit Shah.

• Over 13 new Sahakar Sarathi services were rolled out, including Digi KCC, Campaign Sarathi, Website Sarathi, and the Cooperative Governance Index.

• Several tech-enabled platforms such as ePACS, the global Grain Storage Application, Shiksha Sarathi, and the Sarathi Technology Forum were also unveiled.

• This gathering marks the second edition of a planned three-part EARTH Summit series focused on rural transformation.

• The summits aim to strengthen rural economies and generate practical strategies for sustainable rural development.

• Key challenges linked to four major rural ministries will be discussed across the three summits, culminating in a unified policy blueprint in Delhi in 2026.

• Plans include establishing a cooperative body in every Panchayat and expanding cooperative participation to over 50 crore citizens.

• Amit Shah also launched the Sahakar Taxi service, which already saw 51,000+ drivers registering during its pilot phase, with a vision to build India’s largest cooperative taxi network.

MISCELLANEOUS

Key Highlights of New Development Projects Launched in the Northeast

• Union Minister Jyotiraditya M. Scindia virtually unveiled a series of development works aimed at strengthening infrastructure across the Northeastern states.

• He inaugurated five completed projects and also laid the foundation stone for 11 new initiatives, all under the Ministry of DoNER.

• Together, these projects represent an investment of over ₹645 crore for regional development.

• Among the completed works are the Chendang Saddle–Kohima Road (Phase II) and the upgraded AT Road from Tssurang to Impur, including three new bridges.

• The new projects include a Multispeciality Hospital in Chümoukedima, a 50-bed hospital at Peren HQ, the Nagaland Innovation Hub, and the Khonomo–NH-29 Road via the Dzudza River.

• Scindia highlighted that the Centre is collaborating closely with Northeastern Chief Ministers to advance the “Ashtalaxmi” development agenda.

• As part of this vision, eight high-level task forces have been formed, each led by a Chief Minister with a specific developmental mandate.

• Scindia assured that the government will fully act on all recommendations submitted by these task forces to accelerate growth in the region.