Summary of India This Week - January 17, 2025

Rupee Hits Record Low Against USD

Experts predict that the Indian rupee may drop to 87 against the US dollar by March end due to rising treasury yields and surge in crude prices. The volatility trends suggest an 80% chance of this drop, with the rupee already hitting an all-time low of 86.40. Factors contributing to this include the rupee dropping for 16 consecutive weeks, offshore markets betting against the rupee, and FPIs pulling out funds from Indian markets.

Pete Hegseth Nominated for Secretary of Defence

Pete Hegseth, the nominee for Secretary of Defence, plans to collaborate with the US State and Commerce Departments to reassess the India-US partnership. His focus is on joint military exercises, defence sales, and strategic talks to strengthen ties between the two nations. Hegseth aims to prioritize homeland defense, deter aggression from China in the Indo-Pacific, and responsibly end wars to realign resources.

Tamil Language and Heritage Month Resolution

US Congressman Raja Krishnamoorthi introduced a bipartisan resolution to designate January as Tamil Language and Heritage Month, recognizing the importance of the language spoken by over 80 million people globally. Various Tamil American organizations and leaders have welcomed this initiative, emphasizing the rich history and contributions of the Tamil community.

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India This Week~January 17, 2025 - Flipbook by Fleepit