Daily Current Affairs News: 29th November, 2025

National News

PM Modi Unveils 77 FT Statue Of Rama & Inaugurates Ramayana Theme Park in Goa

• PM Narendra Modi inaugurated a 77-foot bronze statue of Lord Rama and the Ramayana Theme Park at Shree Samsthan Gokarn Partagali Jeevottam Math in Canacona, Goa, marking the 550th-year celebrations (Sardha Panchashatamanotsava) of the Math.
• The event highlighted India’s spiritual and cultural heritage, with the release of a commemorative postal stamp and coin.
• Earlier, he visited Udupi, participating in the Laksha Kantha Gita Parayana at Sri Krishna Matha, inaugurating the Suvarna Teertha Mantapa, and dedicating the Kanaka Kavacha.
• The twin celebrations emphasized faith, tradition, and cultural revival, linking India’s epic heritage with modern expressions of spirituality and heritage tourism.

ICAI Sets Guinness World Record for Largest Career Advice Programme in a Single Day

• On November 28, 2025, the Institute of Chartered Accountants of India (ICAI) achieved a Guinness World Record by conducting the largest career guidance session in a single day.
• Held in Mumbai, the event saw over 7,400 attendees, with 6,166 students officially counted under Guinness criteria.
• This was part of ICAI’s flagship CAFY 4.0 (Career in Accounting and Finance for Youth) and the Super Mega Career Counselling Programme.

India’s Animal Husbandry Sector Records Gains in Milk, Eggs, Meat & Wool — BAHS 2025

International News

Vladimir Putin’s India Visit for 23rd India–Russia Annual Summit In December

• President Putin is set to visit India, marking his first trip post-Ukraine conflict, to reinforce strategic ties under the Special and Privileged Strategic Partnership.
• The summit will focus on defence cooperation (S-400 system), energy partnerships, bilateral trade (target US$100 billion by 2030), technology and space collaboration, and global issues like Ukraine, Indo-Pacific, BRICS, and UN reform.
• President Droupadi Murmu will host a banquet in his honor. Ahead of the visit, EAM S. Jaishankar met Putin and Lavrov, and India opened two new consulates in Russia, signaling strengthened diplomatic engagement.

India Delivers 73 Tonnes of Medicines & Vaccines to Support Afghanistan’s Healthcare

• India dispatched a 73-tonne humanitarian consignment to Afghanistan, including life-saving medicines, vaccines, and nutritional/medical supplements to address healthcare gaps and malnutrition.
• This shipment is part of India’s ongoing support for Afghanistan, which spans infrastructure, education, energy, and healthcare, and marks one of the largest recent medical aid deliveries.
• The initiative underscores India’s humanitarian outreach, regional diplomacy, and soft power strategy, while strengthening people-to-people ties and reinforcing its role as a reliable partner in South Asia.

Operation Sagar Bandhu — India’s Aid Mission to Sri Lanka After Cyclone Ditwah

• In late November 2025, Cyclone Ditwah struck Sri Lanka, causing heavy rains, floods, landslides, over 50 casualties, and widespread damage to infrastructure, agriculture, and housing.
• In response, India launched Operation Sagar Bandhu (“Ocean Friend”), a Humanitarian Assistance and Disaster Relief (HADR) mission, deploying INS Vikrant and INS Udaygiri to Colombo with relief materials, food, medicine, and emergency kits.
• The operation underscores India’s role as a reliable maritime neighbour, reflecting its focus on regional cooperation, rapid disaster response, and humanitarian outreach, as highlighted by EAM Dr S. Jaishankar.

China’s Arctic Express Route Opens — Why India Must Strengthen Its Maritime Corridors

• In 2025, China launched the Arctic Express, a commercial shipping route from Ningbo-Zhoushan to Felixstowe via the Northern Sea Route (NSR), cutting Asia–Europe transit time to 18 days (vs. 40+ via Suez) and reducing costs and emissions by ~50%.
• For India, this shift poses strategic and economic challenges, risking marginalisation in global trade unless it strengthens maritime corridors and port infrastructure.
• India is responding through initiatives like the Chennai–Vladivostok Maritime Corridor (CVMC), the International North-South Transport Corridor (INSTC), and the India-Middle East-Europe Corridor (IMEC), while leveraging its Arctic presence via scientific research, Arctic Council observer status, and energy interests in Russian Arctic projects.

Economy News

India’s Q2 FY26 GDP Grows 8.2%, Driven by Strong Industry and Services Sectors

• India’s economy grew 8.2% in Q2 FY26 (July–September), up from 5.6% in Q2 FY25, driven by robust expansion in Manufacturing (9.1%), Construction (7.2%), and Services (9.2%), with Financial, Real Estate and Professional Services surging 10.2%.
• Agriculture rose modestly 3.5%, while Utilities grew 4.4%.
• Private consumption rebounded 7.9%, reflecting stronger domestic demand and consumer confidence. Real GDP reached ₹48.63 lakh crore and Nominal GDP ₹85.25 lakh crore, with H1 FY26 growth at 8.0% (real) and 8.8% (nominal).
• The NSO highlighted use of real-time indicators and announced a base year revision from 2011–12 to 2022–23 to be released on February 27, 2026, for a modernized GDP measure.

India’s Forex Reserves Fall by $4.47 Billion to $688.1 Billion: RBI

• India’s foreign exchange reserves fell by USD 4.472 billion to USD 688.104 billion for the week ending November 21, 2025, after a USD 5.543 billion rise the previous week.
• The decline was mainly due to a drop in gold reserves (USD 2.675 billion) and foreign currency assets (USD 1.69 billion), with smaller decreases in SDRs (USD 84 million) and IMF reserve position (USD 23 million).
• Despite this fall, India’s reserves remain among the world’s largest, providing a buffer against global shocks, supporting currency stability, and financing trade deficits.
• Reserves are maintained by the RBI and include FCAs, gold, SDRs, and IMF positions, which fluctuate with global market and currency movements.

India’s Fiscal Deficit Reaches 52.6% of FY26 Target by October, Driven by Higher Capex

• India’s fiscal deficit stood at ₹8.25 lakh crore, or 52.6% of the FY26 target, reflecting elevated capital expenditure amid a slight dip in net tax revenue (₹12.74 lakh crore vs ₹13.05 lakh crore last year).
• Non-tax revenue rose to ₹4.89 lakh crore, while total expenditure reached ₹26.26 lakh crore, driven by a 31% jump in capital spending (₹6.18 lakh crore) aimed at infrastructure-led growth.
• The mid-year figures highlight the challenge of balancing revenue shortfalls with sustained investment stimulus, as the government works to maintain fiscal consolidation while supporting long-term economic growth.

How GIFT City Has Emerged as India’s Premier Global Financial and Technology Hub

• The Gujarat International Finance Tec-City (GIFT City) is India’s first operational International Financial Services Centre (IFSC) and smart city, located between Ahmedabad and Gandhinagar, designed to rival global hubs like Singapore and Dubai.
• Regulated by the International Financial Services Centres Authority (IFSCA), it offers unified oversight over banking, capital markets, insurance, and fintech, with single-window approvals and innovation-focused policies.
• Spanning over 1,000 acres (expandable to 3,300 acres), GIFT City hosts 1,000+ entities, including banks, asset managers, insurers, aircraft and ship lessors, and two international stock exchanges.

GIFT City Eyes Becoming India’s ‘Guernsey’ by On‑shoring Intellectual Property

• Gujarat’s GIFT City, best known as India’s premier international financial services centre (GIFT IFSC), is now planning to evolve into a major intellectual property rights (IPR) hub, inspired by global offshore jurisdictions like Guernsey.
• Backed by the IFSCA, the proposal aims to let companies register and hold IP in GIFT City, reducing the long-standing trend of Indian firms shifting IP overseas.
• A dedicated expert committee is evaluating a globally competitive IP regime that blends legal ease, financial services, and IP-based financing.
• The move is expected to stem IP outflow, build a transparent, compliant IP ecosystem, enable IP-backed financing and royalty structuring, and attract international investors and R&D-intensive firms, strengthening India’s innovation economy.

India to Lead Emerging Market Growth with 7% GDP Rise in 2025: Moody’s

• Global credit rating agency Moody’s forecasts India’s GDP growth at 7% in 2025, making it the fastest-growing economy among emerging markets and in the Asia-Pacific (APAC) region, with 6.4% growth expected in 2026.
• The strong performance is driven by resilient domestic demand, including private consumption, robust investment activity, infrastructure expansion, and growth in manufacturing and services.
• Despite currency fluctuations, Indian companies remain well-positioned through hedging, financial buffers, and global capital access, allowing India to withstand global volatility.

Appointments News

Sipan Garg Takes Additional Charge as CMD of THDC India Ltd

• Sipan Kumar Garg, currently Director (Finance), has taken over as the CMD of THDC India Limited in an additional charge from November 16, 2025, following the sudden demise of R. K. Vishnoi.
• With 24+ years of experience in finance, taxation, and commercial operations in the power sector — including roles as CFO of Aravali Power Company and CFO of Patratu Vidyut Utpadan Nigam (both NTPC subsidiaries) — Garg brings strong financial leadership to THDC.
• THDC, a wholly owned NTPC subsidiary, operates in hydro, solar, thermal, and pumped storage power, contributing significantly to India’s clean energy transition.

Temasek Appoints Former DBS CEO Piyush Gupta as India Chairman

• Temasek Holdings has appointed Piyush Gupta, former DBS Bank CEO, as its non-executive Chairman for India effective December 1, 2025, signalling a stronger India-focused investment strategy.
• Gupta will work with Ravi Lambah to shape long-term investment plans, support portfolio companies, and deepen government–industry engagement.
• Known for leading DBS Bank’s digital transformation and APAC expansion during his 2009–2025 tenure, Gupta brings deep financial expertise and India-market insight.
• Temasek, increasingly bullish on India, has been expanding investments across financial services, technology, healthcare, consumer goods, clean energy, and logistics, reinforcing its role as a long-term partner in India’s growth.

Awards News

Jay Shah Honoured with “Indian of the Year 2025”

Defense News

India Signs ₹7,900 Crore Deal with US for MH-60R Navy Helicopter Support

• India formalised a ₹7,900 crore agreement with the United States under the Foreign Military Sales (FMS) programme to ensure the long-term sustainment of its MH-60R Seahawk helicopter fleet.
• The deal covers spare parts, technical support, maintenance training, component repair, and the establishment of intermediate-level repair facilities in India, reducing reliance on foreign hubs.
• Aligned with Aatmanirbhar Bharat, it promotes domestic defence participation and strengthens India’s self-reliant sustainment capabilities.

Ranks & Reports News

India’s Rise: Third Place in Asia Power Index 2025

• India has secured third place in the Asia Power Index 2025, behind the United States and China, officially entering the category of a “major power” with a score of 40/100.
• The index, compiled by the Lowy Institute, evaluates 27 countries across eight dimensions: Economic Capability, Military Capability, Resilience, Future Resources, Diplomatic Influence, Economic Relationships, Defence Networks, and Cultural Influence.
• India excelled in Economic Capability, Future Resources, and Military Capability, reflecting its growing GDP, demographic strength, technological readiness, and defence modernisation, while areas like Defence Networks, Diplomatic, and Cultural Influence remain growth opportunities.

Important Days News

International Jaguar Day 2025: Celebrating the Guardian of the Americas’ Forests

• International Jaguar Day, observed on November 29, raises global awareness about jaguar (Panthera onca) conservation, a Near-Threatened apex predator of the Amazon Basin.
• The day highlights threats like deforestation, poaching, habitat loss, and promotes biodiversity preservation, sustainable development, and wildlife protection, encouraging global action to safeguard this keystone species.