Current Affairs - International

Bangladesh has resumed its seasonal export of hilsa fish to India for Durga Puja 2025, though in a reduced quantity of 1,200 metric tonnes—the lowest since 2019. The first consignment of around 32 tonnes arrived in West Bengal via the Petrapole border on September 17, 2025. Hilsa from the Padma River in Bangladesh is particularly prized for its superior taste and cultural significance during Bengal’s biggest festival. The export window runs from September 16 to October 5, giving importers a limited period to complete shipments. This trade is seen as part of India-Bangladesh goodwill diplomacy, highlighting the strong cultural and economic ties between the two nations.

Pakistan and Saudi Arabia have entered into a significant mutual defence agreement during Prime Minister Shehbaz Sharif’s official visit to Riyadh. The central feature of this pact is the collective security clause, under which any act of aggression against one nation will be regarded as aggression against both. This deepens the long-standing strategic and defence ties between the two countries, reinforcing regional security cooperation. The agreement comes at a critical geopolitical moment, following heightened tensions in the Gulf after an Israeli attack on Hamas leadership in Qatar, a close US ally. This move highlights Saudi Arabia’s pivotal role in regional defence alliances.

On September 18, 2025, IIT Kanpur and Vietnam National University (VNU) signed a Memorandum of Understanding (MoU) to strengthen academic and research collaboration. The agreement focuses on key areas such as Artificial Intelligence (AI), medical technology, smart cities, drone applications, and advanced material research. This partnership is expected to foster joint research projects, enhance student and faculty exchange programs, and contribute to the socio-economic needs of both nations. It also aligns with India’s Act East Policy by deepening academic and technological ties with Southeast Asia. For Vietnam, the collaboration offers access to India’s expertise in cutting-edge STEM fields, thereby advancing innovation and capacity building.

Australia has significantly raised its climate ambition by setting a new emissions reduction target of 62% by 2035, based on 2005 levels. Announced by Prime Minister Anthony Albanese, this target builds upon the earlier pledge of a 43% cut by 2030. The move aligns with Australia’s obligations under the Paris Agreement and responds to growing domestic risks such as bushfires, droughts, rising sea levels, and biodiversity loss. The country has faced global criticism for its reliance on fossil fuels, making this updated target an important step toward decarbonisation. Backed by recommendations from the Climate Change Authority, it underscores Australia’s intent to balance economic development with climate responsibility.

The US Federal Reserve reduced its benchmark interest rate by 25 basis points (bps), bringing the range to 4.00%–4.25%. This marks the first rate cut of 2025 and signals the beginning of a potential easing cycle. The decision was influenced by signs of a cooling labour market, slower economic growth, and moderating inflation that remains above the 2% target. The Fed’s move aims to lower borrowing costs, encourage business investment, and support consumer spending, while still balancing the risks of inflation. Globally, the cut is expected to shape monetary policy sentiment, impacting capital flows, debt markets, and investor strategies across emerging and developed economies.