
Handpicked updates about India’s business and the business of India
Good morning! R Ashwin, one of Indian cricket’s modern greats, has called time on his IPL career, closing the final chapter of his professional run in Indian cricket. The CSK stalwart’s move shocked many who were betting on a Royals reunion in 2026. But he isn’t poora poora done just yet, like all retirees he’s planning to go abroad - but to play in global leagues as an explorer of the game. So all of you who were planning to put him in your fantasy team …. oh nevermind. Thank you for the great times you legend.
Now, let’s get into the Dispatch! 🚀
Today’s reading time is 6 mins.
Technology & Innovation
Why India’s Fighter Jet Engine Remains Grounded

Image credits: Defence Express
The Long Wait: India has been chasing the dream of building an Indigenous fighter jet engine for decades, yet the goal remains elusive. Despite heavy investments and ambitious projects like the Kaveri engine, the country continues to depend on foreign suppliers for the “heart” of its fighter aircrafts. This over-reliance has not only delayed the dream of true defence self-reliance but also exposed India to geopolitical vulnerabilities.
Billions Spent but Limited Progress: India has already spent over ₹3,000 crore on indigenous jet engine development under the Kaveri program, which began in the 1980s, but the program has failed to deliver a viable engine even after multiple upgrades and foreign collaborations. Technical hurdles, such as achieving the right thrust-to-weight ratio and managing heat stress, have held the project back. This has forced India to look abroad repeatedly, despite its heavy financial outlay.
Strategic Dependence: The inability to produce engines at home has meant India must rely on the U.S., France, and Russia for technology and supply. This dependence comes with political strings, restrictions on technology transfers, licensing issues, and vulnerability to sanctions. The U.S., for example, has historically been reluctant to share “hot core” engine technology, the most sensitive part of the propulsion system. As a result, India’s fighter jet programs - from the Tejas to future stealth aircraft, face delays and limitations.
The Way Forward: Experts argue that India must take a dual approach: continue partnerships with global leaders like Safran (France) and GE (U.S.), while simultaneously investing in building domestic capacity. This means strengthening metallurgical research, nurturing aerospace talent, and ensuring continuity in long-term projects that often span decades. Only then, with sustained political will and consistent funding can India hope to eventually field a truly indigenous jet engine.
Crime & Security
East India’s Narco Threat

Image credits: Deccan Herald
A changing scene: For decades, vast stretches of Jharkhand, Bihar, and Odisha were synonymous with the “Red Corridor,” the hotbed of Maoist insurgency. Once feared for violence, extortion, and armed conflict, these areas are now witnessing a startling transformation. With the decline of Maoist influence, a new menace has emerged - opium and cannabis cultivation, turning the former battlefield into a narcotics hub.
Rise of Illicit Cultivation: Security forces estimate that thousands of acres in Jharkhand and adjoining states are now being used for illegal poppy and cannabis cultivation. Remote forested terrain, poor state presence, and vulnerable populations provide the perfect setting for such activities. Local villagers, who once offered logistical support to insurgents, are increasingly drawn to the drug trade because of the high financial returns. The same organizational networks that once moved arms and extorted businesses are now being co-opted by drug cartels. Former cadres, familiar with the geography and accustomed to underground operations, play a key role in enabling cultivation and distribution. This shift reflects how insurgent zones can morph into organized crime centers when left unmonitored.
Threats Beyond Borders: The problem isn’t confined to local consumption. Narcotics produced in these areas often find their way into larger interstate and even international supply chains. According to reports, consignments from Jharkhand and Odisha are linked to smuggling networks that stretch as far as Nepal and Bangladesh, emphasising the seriousness of the threat. For governments, the challenge is twofold: curbing illicit cultivation while offering sustainable alternatives to impoverished communities.
Business India: Dhanda Hai Yeh!

Image credits: ET
India’s gas goals: India’s Petroleum and Natural Gas Regulatory Board (PNGRB) aims for 12.6 crore PNG connections and 18,336 CNG stations by 2034, while working with states to streamline policies and reduce VAT on these cleaner fuels.
AI alliance with China? India may offer cautious support to China’s WICO-style global AI body at the Tianjin SCO summit, while not formally joining the group. The topic will be a key agenda point during PM Modi's visit to the SCO summit in China.
India-Africa trade: India's trade with Africa crossed $100 billion in 2024-25, making India a top-five investor with over $75 billion in cumulative investments since 1996. India has also provided $12 billion in loans to Africa.
Tariff update
US Tariff Impact: The 50% US tariffs, incl. the 25% penalty in response to India's Russian oil purchases, is likely to hit $60.2 billion of $86.5 billion exports. Estimates suggest India’s GDP could be impacted by 0.4% - 0.5%.
Exporters' plea: Indian exporters are requesting government support, including loan moratoriums and interest subsidies, to help them cope with the impact of the new US tariffs - described as akin to an "earthquake."
Textile push: India plans to launch outreach programs in 40 nations to diversify and boost textile exports. The goal is to promote quality, sustainable products and increase India's current 5-6% market share in these countries.
Tariff blowback: India's $17 billion oil savings from Russia since 2022 could be reversed by 50% U.S. tariffs. These could slash exports by over 40%, or nearly $37 billion, this fiscal year.