G7 leaders are uniting to lessen reliance on China for vital minerals, essential for defense and green tech. Plans include coordinated stockpiling, enhanced recycling, and a new platform with the IEA. The goal is to significantly cut dependence on single suppliers by 2030, fostering more secure global supply chains.
The National Stock Exchange has officially filed for its long-awaited IPO, aiming to raise $2-3 billion. This move follows a nine-year delay due to the co-location controversy. The offer is entirely an ‘offer for sale,’ with existing shareholders, including Tiger Global, divesting stakes. This listing marks a significant milestone after regulatory hurdles were cleared.
Europe faces a looming “China Shock” as booming exports, redirected from the US, threaten its industries. G7 leaders are discussing trade imbalances, with concerns that China’s manufacturing dominance and sophisticated products could mirror past disruptions. Policymakers are considering tougher trade measures against Chinese imports, particularly in key sectors.
Indian airlines anticipate a 10-15% drop in operating profits this fiscal year. Soaring aviation fuel prices, airspace limitations, and a weakening rupee, exacerbated by the Middle East conflict, are significantly impacting the sector. Despite potential fuel price moderation, higher costs and lease rentals will continue to pressure airline finances.
India and the UK will implement their landmark free trade agreement on July 15, significantly reducing tariffs on key products like whisky and automobiles. This historic pact is set to boost bilateral trade by billions and enhance economic cooperation, with businesses having 28 days to prepare for its benefits.
US President Donald Trump indicated significant progress in trade talks with India, stating a deal is “very close.” This follows intensified negotiations and an upcoming visit by the US Trade Representative to finalize a bilateral trade agreement. Most issues are reportedly settled, with discussions focusing on minor details for the initial phase, expected before July
Indian markets mirrored global trends as US stocks traded cautiously, awaiting the Federal Reserve’s policy decision. Easing oil prices and hopes for a US-Iran peace deal offered support. Technology and AI stocks saw a rebound, while specific companies like La-Z-Boy reported strong earnings, boosting investor sentiment despite broader market indecision.
Fertiliser prices may remain high for another three to four months despite a US-Iran peace deal and the Strait of Hormuz reopening. Industry insiders cite the time needed to restart plants and stabilize raw material supplies, particularly sulphur, which faces ongoing shortages. Lingering shipping disruptions and logistical hurdles will also delay a full return to
Section 87A tax relief to resident individuals whose total income is less than the prescribed limits. How does it work? The tax (before cess) is first calculated according to the applicable tax rates and then reduced by the rebate available under section 87A.
