Rupee Strengthens, U.S.-India Trade Deal Falters, NISAR Launch Looms
Dear Readers,
Namaste, and a very warm welcome to today’s edition. In a world that’s rapidly evolving, staying informed is not just important, it's essential. Through this newsletter, we bring you the most significant headlines, policy shifts, economic developments, and cultural highlights from across India, all curated for your awareness and empowerment. Whether you're a student, a professional, a policymaker, or a curious citizen, our goal is to help you stay ahead of the curve with reliable, concise, and insightful updates.
Thank you for joining us on this journey of knowledge and awareness. Let’s dive into what’s making news in today’s Bharat.
📊 Markets & Economy
Rupee Firms Amid Falling U.S. Yields
On July 22, the rupee strengthened slightly to ₹86.2650/USD, benefiting from a drop in U.S. 10‑year Treasury yields to ~4.35%, lower crude oil prices, and a softer dollar. Despite ongoing concerns over potential 26% U.S. tariffs on Indian exports post August 1, equities and bond yields remained steady. Analysts caution the rupee remains susceptible to further weakness, especially with muted foreign investment around $9.5 billion withdrawn so far in 2025.
Foreign Interest Revival in Indian Bonds
Fresh enthusiasm among global investors has emerged in Indian government bonds, fueled by renewed expectations of an RBI rate cut in August after a surprise 50 bps cut in June. In the past month, ₹129 billion (~$1.5 billion) flowed into indexed bonds. While yields on 10‑year bonds stand at 6.30%, a likely U.S. Fed cut could widen yield differentials to India's advantage.
🌐 Trade & Diplomacy
India–U.S. Interim Trade Deal Stalls
As the August 1 deadline looms, the interim trade pact remains elusive. India resists U.S. demands for cuts in farm tariffs on dairy and agriculture, while the U.S. stands firm on steel, aluminum, and auto duties. Both nations are reportedly looking toward a wider agreement by September-October. The delay keeps key Indian export sectors on edge.
Khalistan Extremism Raised with the UK
Ahead of PM Modi's UK visit on July 23, India has formally flagged Khalistani extremist activities to the British government. Foreign Secretary Misri emphasized that this issue is of mutual concern.
🛰️ Science & Innovation
NISAR Satellite Launch Ahead (July 30)
The NASA–ISRO NISAR mission is set for launch from Sriharikota on July 30. Weighing ~2,392 kg and costing $1.5 billion, it features dual-frequency synthetic aperture radar capable of capturing Earth’s surface changes every 12 days regardless of weather. The collaboration marks a historic milestone in Earth observation and Indo‑U.S. scientific cooperation.
In Domestic Policy & Reforms
Unemployment Data Under Scrutiny
A Reuters poll reveals that over 70% of economists believe official unemployment data (5.6% in June) underestimates the real picture. They argue the true rate could be between 10% and 35%, citing weak job creation and underemployment masked by outdated definitions.
AMP 2047: Automotive Ambition
The Ministry of Heavy Industries has launched Automotive Mission Plan 2047, aiming to propel India into a global auto leader by the nation's centenary, focusing on phased goals for 2030, 2037, and 2047. Targets include elevating the automotive sector’s GDP share to 12% and generating 65 million jobs.
Healthcare Cost Oversight Expanded
The government plans to bring the National Health Claims Exchange under stricter supervision of the Finance and IRDAI ministries to curb rising healthcare costs up 13% in 2025, above global averages. Hospitals accused of overcharging could trigger tighter controls.
🌧️ Environment & Agriculture
Monsoon Outlook & Crop Progress
India is projected to receive above-average monsoon rainfall in July, bolstering a rural economy that depends on 70% rain-fed irrigation. June rains were 9% above normal, supporting accelerated kharif sowing across key states like Maharashtra, Gujarat, and Madhya Pradesh.
Quote of the Day:
“Diplomacy is the art of letting someone else have your way.” – India’s strategic abstentions at the UN exemplify this nuanced approach to global engagement.
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