Daily News - Thursday, 13 March 2025

WTO: New Tariffs likely to Hit Trade in Medium-Term (The Economic Times)

The World Trade Organization (WTO) reported that global goods trade remained steady in Q4 2024 and showed signs of growth in early 2025, with merchandise trade increasing by 3.3% year-on-year in Q3 2024 as it continued recovering from the 2023 slump. However, trade policy uncertainty and new tariff threats—particularly from the U.S. under President Donald Trump against countries like China and Canada, which have responded with retaliatory duties—could weigh on global trade in the medium term. While Asian exports and North American imports exceeded expectations, European trade was weaker than anticipated, and short-term trade acceleration may be driven by businesses frontloading imports ahead of potential tariffs, which could dampen demand later in the year. 

Pharma body refutes US study findings on India-made drugs (Financial Express)

⁠The Indian Pharmaceutical Alliance (IPA) has strongly refuted a study by Ohio State University that claims Indian-made generic drugs have 54% more severe adverse outcomes than U.S.-made drugs, emphasizing that India’s 650 USFDA-compliant plants— the largest number outside the U.S.— undergo rigorous inspections from global regulators. The IPA highlighted that India’s pharma industry supplies 40% of the U.S. generics demand and exported $8.7 billion worth of medicines to the U.S. in FY24, attributing lower costs to economies of scale, automation, and efficient manufacturing rather than compromised quality. Additionally, the IPA criticized the study’s reliance on the FDA Adverse Event Reporting System (FAERS), arguing that the database captures associations, not causation, and that Indian pharma facilities face stricter scrutiny than many other global manufacturers. 

After Bharti, Jio allies with Musk's SpaceX for Starlink net services (The Hindu)

Following Bharti Airtel’s agreement with Elon Musk’s SpaceX to offer Starlink’s high-speed internet in India, Reliance Jio Platforms Ltd (JPL) has also signed a pact to provide Starlink services, pending regulatory approvals. Jio plans to distribute Starlink equipment through retail outlets and online storefronts while integrating customer support mechanisms, positioning the service as a complement to its existing JioAirFiber and JioFiber offerings for remote and challenging locations. Additionally, Jio and SpaceX are exploring further collaborations to enhance India’s digital ecosystem, with Jio emphasizing its commitment to ensuring affordable high-speed broadband access nationwide. 

⁠India, Mauritius ink eight pacts, enhance strategic partnership (mint)

India and Mauritius have elevated their ties to an ‘enhanced strategic partnership’ by signing eight agreements covering trade, maritime security, cross-border transactions in national currencies, MSME cooperation, and anti-money laundering efforts, while Prime Minister Narendra Modi attended Mauritius’ National Day as the chief guest. Modi also unveiled India’s new vision for the Global South, named MAHASAGAR (Mutual and Holistic Advancement for Security and Growth Across Regions), which builds on the SAGAR (Security and Growth for All in the Region) policy and aims to ensure a free, open, and secure Indian Ocean amid China’s growing influence. India reaffirmed its commitment to securing Mauritius’ Exclusive Economic Zone, participated in the celebrations with a naval warship and skydiving team, and emphasized its respect for Mauritius’ sovereignty over the Chagos Archipelago. 

⁠India 'super important’ market: Riyadh Air CEO (The Indian Express)

⁠Saudi Arabia’s new full-service airline, Riyadh Air, sees India as a crucial market and is in talks with IndiGo and Air India for potential partnerships, alongside discussions with India’s aviation regulator (DGCA) to secure operational approvals. With Saudi Arabia expecting India to be its largest tourism source by 2030 and Indian nationals already being the biggest non-Saudi resident group in the country, Riyadh Air aims to capitalize on this growing passenger flow and expand its reach to over 100 destinations. Backed by Crown Prince Mohammed bin Salman, the airline, set to launch operations later this year, has already secured partnerships with major global airlines and has an aircraft order pipeline of 39 Boeing 787s (expandable to 72) and 60 Airbus A321s.