Current Affairs - International

India signed a Comprehensive Economic Partnership Agreement (CEPA) with Oman on 18 December 2025, marking a significant milestone in India’s economic engagement with the Gulf region. The agreement aims to boost bilateral trade, investment, services, and professional mobility while providing near-universal duty-free access to Indian exports. It grants zero-duty access on over 98% of tariff lines, benefiting sectors such as textiles, gems and jewellery, engineering goods, pharmaceuticals, and agriculture. The CEPA also includes Oman’s first-ever comprehensive services commitments and enhanced mobility provisions for Indian professionals, strengthening long-term economic cooperation and strategic ties between the two nations.

The Global Investment Risk and Resilience Index 2025 measures how well countries can withstand and manage investment-related risks arising from geopolitical uncertainty, economic volatility, technological disruption, and climate challenges. India was ranked 104th in this index, indicating a relatively lower level of resilience compared to many other nations assessed. While countries such as Switzerland topped the rankings due to strong institutional stability and investor-friendly environments, India’s position reflects ongoing challenges related to infrastructure, regulatory consistency, and risk mitigation. This ranking serves as an indicator of areas where policy reforms and economic strengthening could improve investor confidence.

India and Saudi Arabia entered into a bilateral visa waiver agreement aimed at facilitating smoother official travel between the two nations. The pact provides mutual short-term visa exemptions for holders of diplomatic, special, and official passports, reducing administrative barriers for government officials. Signed in Riyadh under the Strategic Partnership Council framework, the agreement reflects deepening diplomatic ties and growing cooperation across sectors such as trade, energy, defense, and people-to-people exchanges. By simplifying travel procedures, the initiative is expected to enhance institutional dialogue, accelerate joint initiatives, and further strengthen the long-standing strategic relationship between India and Saudi Arabia.

India and Argentina entered into a Work Plan for 2025–27 aimed at enhancing collaboration in agricultural research and technology exchange. The agreement was signed in New Delhi and involves cooperation between the Indian Council of Agricultural Research and Argentina’s National Institute of Agricultural Technology. Key focus areas include sustainable agronomy, efficient natural resource management, zero tillage practices, agricultural mechanisation, micro-irrigation, fertigation techniques, and germplasm exchange. This partnership is designed to promote innovation, improve farm productivity, and support sustainable agricultural development in both countries through shared expertise and advanced research practices.

Jose Antonio Kast emerged victorious in Chile’s presidential election, marking a significant political shift in the country. A right-wing and ultra-conservative leader, he secured a decisive win with 58.16% of the vote, defeating leftist candidate Jeannette Jara. His election reflects growing public concerns over rising crime, illegal migration, and internal security. Kast’s agenda focuses on strengthening border control, reducing organised violence, and stabilising the economy through fiscal discipline. His victory signals a broader rightward shift in Chile’s political landscape and may influence both domestic governance and the country’s future foreign and economic policies.