Digest for 01 August, 2025
US Imposes 25% Tariff on Indian Goods, Citing Trade Imbalance and Russia Ties
The United States has imposed a 25% tariff on all Indian exports, effective August 7, as part of a revised tariff structure for 70 nations. President Donald Trump cited India's high tariffs, trade barriers, and significant energy and military purchases from Russia as reasons for the levy. He also referred to India's economy as "dead" and stated India may face an additional "penalty" for its ties with Russia. The move has created uncertainty for Indian exporters and the bilateral trade relationship.
All Accused, Including Pragya Thakur, Acquitted in 2008 Malegaon Blast Case
A special NIA court in Mumbai has acquitted all seven accused in the 2008 Malegaon bomb blast case, including former BJP MP Pragya Singh Thakur and Lt. Col. Prasad Purohit. The court cited a lack of "reliable and cogent evidence" for the verdict, nearly 17 years after the attack killed six people and injured over 100. The judgment has sparked political debate, with the BJP hailing it as a refutation of the "saffron terror" narrative, while opposition parties have questioned the investigation.
Supreme Court Recalls Order to Liquidate Bhushan Power & Steel
The Supreme Court has recalled its May 2 judgment that ordered the liquidation of Bhushan Power and Steel Limited (BPSL). A bench led by the Chief Justice noted that the earlier verdict did not correctly consider the legal position and that the larger picture, including the fate of 25,000 workers, must be considered. JSW Steel had acquired the debt-ridden BPSL in 2019 for ₹19,700 crore. The court will now hear the matter afresh, keeping all questions open.
Enforcement Directorate Summons Anil Ambani in Loan Fraud Probe
The Enforcement Directorate (ED) has summoned Reliance Group Chairman Anil Ambani for questioning on August 5 in Delhi. The summons is part of a money laundering investigation into an alleged loan fraud scheme exceeding ₹10,000 crore. The probe stems from CBI FIRs and focuses on the diversion of around ₹3,000 crore in loans from Yes Bank between 2017-2019. The action follows extensive ED raids last week on over 50 companies linked to Ambani's business group across Mumbai and Delhi.
Pakistan Court Sentences 166 Members of Imran Khan's Party to 10 Years in Prison
An anti-terrorism court in Faisalabad, Pakistan, has sentenced 166 members of Imran Khan's Pakistan Tehreek-e-Insaf (PTI) party to 10 years in prison each. The convictions relate to the May 9, 2023, attacks on military installations, including an ISI building, following Khan's arrest. Those sentenced include senior lawmakers and opposition leaders. The PTI has condemned the verdict as politically motivated and part of a plan to disqualify its parliamentarians ahead of a planned protest movement.