Current Affairs of 16 April 2025

National and International Current Affairs - April 16, 2025

International Relations

• India-U.S. Cotton Trade Surge: U.S. upland cotton exports to India have significantly increased from 25,901 running bales last year to 155,260 bales between February and April 2025, hitting a 2.5-year high. This surge is driven by lower U.S. cotton prices, global trade uncertainties, especially with China, and rising demand in India. U.S.-China trade tensions have escalated, with China raising tariffs on U.S. goods to 125%, leading to reduced American cotton exports to China. Consequently, cotton from Texas and other U.S. regions is increasingly being redirected to the Indian market. India, traditionally a major cotton producer and exporter, has become a net importer due to declining yields, with projected imports expected to double in 2024/25. The Cotton Association of India lowered its production estimate by 250,000 bales, forecasting a shortfall of 2.5 million bales. India primarily imports Extra Long Staple (ELS) cotton from the U.S., which is favored due to a 10% duty exemption and superior quality. Falling U.S. cotton prices, with ICE futures down nearly 5% this year, have also made imports more attractive to Indian buyers.

National News

• Murshidabad Violence Over Waqf Act: Violent protests erupted in Murshidabad district, West Bengal, in response to the Waqf (Amendment) Act, 2025. The unrest led to three fatalities, over ten injuries, and the arrest of more than 200 individuals. Authorities imposed Section 144, suspended internet services, and deployed central forces to restore order.

Economy

• Industrial Output Data to Be Released Earlier: The Indian government announced that starting immediately, it will release industrial output data on the 28th of each month, thereby reducing the publication lag by about two weeks. This adjustment aims to provide more timely economic indicators. The March data will be available on April 28 at 4:00 PM India time. This change comes as India's industrial output in February recorded its weakest performance since August 2024, primarily due to a slowdown in manufacturing and mining sectors.
• SEBI Addresses NSE IPO Delays: India's market regulator, the Securities and Exchange Board of India (SEBI), is actively working to resolve issues delaying the initial public offering (IPO) of the National Stock Exchange (NSE), the country’s largest stock exchange. NSE first applied for a listing in 2016 but faced significant setbacks due to allegations of providing unequal trading access to its members, resulting in an 11 billion rupees fine in 2019 and rejection of its listing documents. Although NSE reapplied for a ""no-objection"" certificate last year, further delays were anticipated after SEBI raised concerns in March 2025 over governance, internal processes, and stakeholding in its clearing corporation. SEBI Chairman Tuhin Kanta Pandey emphasized the regulator’s commitment to public interest over commercial gains. In a move towards compliance, the NSE paid 6.43 billion rupees ($75.2 million) in October to settle a separate unfair access case related to its algorithmic trading software, potentially removing key obstacles to its IPO.

Business & Technology

• Walmart Expands Tech Presence in Chennai: Walmart has finalized a lease for a second office space in Chennai, India, marking an expansion of its technology presence in the country. Known primarily as a manufacturing center, Chennai is rapidly gaining attention as a technology hub, following in the footsteps of other Indian cities like Bengaluru, Hyderabad, and Pune. The new office space spans more than 465,000 square feet—equivalent to about eight football fields—and is leased for an initial term of five years beginning in November 2025. This move aligns with a broader trend of global companies—including AstraZeneca, UPS, and Pfizer—establishing tech hubs in India to support operations, R&D, and cybersecurity needs. Walmart, which does not operate retail supermarkets in India, already maintains technology offices in Bengaluru, its largest tech hub globally with 8,000 employees, and Chennai. The company has yet to comment publicly on the new lease.

Defense

• Tiger Triumph 2025 Concludes: The fourth edition of the Tiger Triumph exercise, a joint military drill between India and the United States, concluded with successful amphibious landings and humanitarian assistance operations, strengthening bilateral defense cooperation.