Policy Circle

India’s WTO consultations may ease the US quartz tariffs shock, but the deeper risk is heavy export dependence on the American market. US quartz tariffs: India and the United States are still working towards an interim bilateral trade agreement. On August 5, the Ministry of External Affairs said that some issues remained to be finalised. Ten days later, a new American trade barrier took effect against an Indian industry heavily dependent on the US market.

SEBI plans to revamp securities lending as India’s closing auction exposes gaps in liquidity, arbitrage and market infrastructure. SEBI’s securities lending reforms: The Securities and Exchange Board of India is preparing to overhaul India’s securities lending and borrowing market. The regulator has identified SLB as an area that needs reform to improve price discovery and strengthen the link between the cash and derivatives markets.

The CJP agitation showed how Gen Z protests can turn examination grievances into political pressure through street protests and social media. Gen Z protests: The Jantar Mantar protests in July were unusual even by the standards of a city accustomed to agitation. What began as a reaction to examination leaks became a youth mobilisation, organised and amplified online.

Stronger PSB balance sheets give India room for next round of banking reform, tackling deposits, investment finance, and governance issues. Next banking reform cycle: India’s public sector banks have given the government room to think beyond balance-sheet repair. PSBs reported a record net profit of ₹1.98 lakh crore in FY26. Gross non-performing assets fell to 1.9% from 7.3% in FY22. Aggregate business crossed ₹283 lakh crore and capital adequacy reached 16.6%.

The skills vs degrees debate ignores the basic fact that employers still rely on credentials even as many colleges deliver too little learning. India’s skills vs degrees debate: Three recent arguments about higher education point to the same problem. India may be asking the wrong question when it pits skills against degrees. The argument returned in July when Principal Economic Adviser Sanjeev Sanyal, Chief Economic Adviser V.

As document standards evolve in India, electoral verification must balance citizenship evidence, constitutional safeguards and protection against arbitrary voter exclusion. A passport is the most recognisable document the Indian state issues to its citizens. It carries the national emblem, is issued by a sovereign government, and allows its holder to cross international borders as an Indian national.

Periodic reviews and better regulation could help India replace ageing farm chemicals as safety evidence and agricultural technology change. Review and regulation of farm chemicals: The Union government has invited comments on a proposal to ban paraquat dichloride, a non-selective herbicide in widespread use. Public health experts cite its acute toxicity, occupational exposure and the absence of an effective antidote in support of the ban.

Draft SHANTI rules spell out liability, insurance and lifecycle costs as India seeks private capital for its 100-GW nuclear target. SHANTI rules: India has opened nuclear power to private investment under the SHANTI Act. The draft rules issued by the Department of Atomic Energy now set out how operators will cover accident liability and pay for spent fuel and decommissioning. These provisions will decide much of the economics of private nuclear generation.

Udyam recognition has helped retail MSMEs, but credit, GST costs, digital payments and fragmented regulation still constrain them. Retail MSMEs: India has spent years describing micro, small and medium enterprises as an answer to the country’s employment problem. Yet policy still has difficulty deciding where the small trader or retailer fits. Manufacturing MSMEs have a reasonably clear place in the policy architecture. Retail and wholesale enterprises have had to make do with partial recognition.

A child is vaccinated against multiple diseases at a health centre in Cuba. Trump’s Cuba blockade risks migration, disorder and regional resentment without creating a credible political transition. Cuba blockade offers no diplomatic gain to the US: Cuba is running out of electricity, fuel and time. In parts of Havana, power returns for 20 minutes, sometimes at three in the morning. Families use the interval to cook, pump water and wash clothes. Outages elsewhere last more than 20 hours.