Retail Inflation Eases to 8-Year Low of 1.54% in September

Geopolitical Developments

• 💡 A US-brokered ceasefire deal facilitated the return of living hostages to Israel from Hamas captivity.
• 💬 Prime Minister Narendra Modi hailed the hostage return and affirmed India's support for President Donald Trump's peace efforts in the region.
• 🚀 President Trump addressed Israel's parliament, declaring the hostage release as the "dawn of the new Middle East", and later co-chaired the Gaza Peace Summit in Egypt.

Economic Highlights

• 📊 India's retail inflation eased to an 8-year low of 1.54% in September, a decrease from 2.07% in August.
• 📉 This decline is primarily attributed to a favorable base effect and reduced prices for vegetables, oil, fruits, pulses, and cereals.
• 🏆 The Nobel Prize in Economic Sciences was awarded to Joel Mokyr, Philip Aghion, and Peter Howitt for their foundational work on innovation-driven economic growth and the theory of creative destruction.

Bilateral Relations & Trade

• 🤝 The President of Mongolia, Khurelsukh Ukhnaa, arrived in New Delhi for a four-day visit to engage in talks with Prime Minister Modi and review bilateral relations.
• 🇮🇳🇨🇦 Canadian Foreign Minister Anita Anand met with Prime Minister Modi and External Affairs Minister Dr. S. Jaishankar to strengthen the India-Canada bilateral partnership.
• 🚢 Afghanistan's Foreign Minister advocated for lifting sanctions on Chabahar port to boost trade and requested more Indian visas for medical tourism and cultural exchange.

Domestic Policy & Infrastructure

• ✅ Recent GST reforms in Maharashtra have led to reduced tax rates on processed sugar, fish, traditional crafts, and leather goods, directly benefiting various industries and artisans.
• 🚄 The first section of the Mumbai-Ahmedabad bullet train project, specifically from Bilyimora to Surat, is projected to be operational by 2027.
• ⚡ India is poised to lead globally in biofuels, while the electric vehicle industry has experienced substantial growth, complemented by initiatives like Fair Sephurat to ease air travel.