India’s defence drill on May 7, Moody’s lowers GDP forecast| Hook News Wrap

India gears up for civil defence drills – its first since 1971 – amid rising tensions with Pakistan. On Wednesday, around 250 districts across India will take part in civil defence drills, ordered by the Union Home Ministry. The mock drill will include air raid warning sirens and evacuations. Civilians and students will also receive civil defence training.

UNSC setback for Pakistan

In a setback for Pakistan, UN Security Council members have reportedly inquired whether Lashkar-E-Taiba, a terror group backed by Pakistan, was involved in the Pahalgam terror attack. Sources say UNSC members condemned the attack and stressed the need for accountability during a meeting requested by Pakistan.

PM Modi meets NSA Doval

Prime Minister Narendra Modi met with National Security Advisor Ajit Doval on Tuesday morning. This marks the second time in two days that the Prime Minister has been briefed by Doval.

Kharge’s letter on caste census

In a major political development, Congress President Mallikarjun Kharge has written to Prime Minister Modi, outlining his party’s three demands regarding the caste census. These include adopting the Telangana model for the survey questionnaire, removing the 50% reservation cap, and extending reservations to private educational institutions.

Moody’s lowers India GDP forcast

Turning to the economy, Moody’s Ratings on Tuesday lowered India’s GDP growth forecast for 2025 to 6.3%, down from 6.5%. The agency cited a global economic slowdown, driven by US policy uncertainty and trade restrictions.

Swiggy exits private label business

Food delivery giant Swiggy has announced it will exit its private label business, entering a deal with food service platform Kouzina. This includes an exclusive license for Swiggy’s digital-first food brands, such as The Bowl Company and Homely.

Indian equities end lower

Indian equities ended the day slightly lower, with both the Sensex and Nifty dipping into the red. Investors are awaiting more clarity on geopolitical tensions, Trump trade talks, and the US Federal Reserve’s upcoming policy meeting.