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.
World 🌏
Netflix’s New Juggernaut: K-Pop Demon Hunters
Image credits: Netflix
Music to Netflix’s ears: Netflix’s animated musical K-Pop Demon Hunters has stormed into streaming history, becoming the most-watched film on the platform with over 236 million global views in under ten weeks. The film has surpassed even blockbuster hits like Red Notice, earning the title of Netflix’s top animated original ever. With catchy tracks and folklore-inspired visuals, the movie has struck a chord with fans worldwide. Special sing-along screenings have become events in themselves, raking in an estimated $18–$20 million in North America alone.
Myth Meets Modern Pop: Although American-made, the film is deeply rooted in Korean cultural motifs, from traditional folk symbols to myth-inspired characters. This authenticity has resonated strongly with Korean audiences and idols, who praised the film for capturing the spirit of K-pop while celebrating local folklore. The success didn’t stop with streaming numbers. The film’s soundtrack stormed the Billboard 200, while its lead single Golden dominated global music charts, further blurring the line between cinema and pop phenomenon. Unsurprisingly, Netflix and Sony are already in discussions about a sequel, potentially diving into the backstories of Huntr/x’s (the girl group in the musical) members.
Why It Resonates: What makes K-Pop Demon Hunters a juggernaut isn’t just the animation or music — it’s the fusion of idol nostalgia, folklore, and empowering girl-group storytelling. As cultural analysts note, the film taps into a global youth yearning for joy, belonging, and fantasy, all wrapped in vibrant visuals and catchy soundtracks. Clearing out your Sunday to watch it? We sure are.
DuniyaDIARY 🌏📒
Image credits: Indian Express
Denmark Confronts US Over Greenland Plot: Denmark has summoned senior US diplomat Mark Stroh after reports claimed three Americans were running covert campaigns to push Greenland toward secession. A Danish broadcaster alleged they sought to infiltrate local society and promote US ties.
US Firms Eye Pakistan’s Oil Potential: Following Donald Trump’s claims of vast untapped oil reserves in Pakistan, American companies are showing keen interest in the country’s energy sector. However, industry experts remain doubtful, pointing to dwindling foreign investments, weak infrastructure, and persistent security risks.
Africa and Chinese Exports: Africa is fast becoming a crucial destination for Chinese goods. The continent’s growing demand offers Beijing new opportunities to offset losses from its strained trade with the US.
Porsche hunt for a new CEO: Porsche AG is searching for a new CEO to replace Oliver Blume, who has faced investor pushback over juggling leadership of both Porsche and Volkswagen.
Vietnam’s Gold Market: Vietnam is liberalizing its gold market by ending the state’s monopoly on bullion imports, exports, and bar production. Under the new decree, licensed companies and banks can trade and produce gold, while the central bank retains regulatory oversight.
Rio Tinto’s restructuring efforts: Rio Tinto’s new CEO Simon Trott has reorganized the mining giant into three core divisions - iron ore, aluminum & lithium, and copper, in a bid to simplify operations and cut costs.
Aur Batao 📰
0.5% shock: The new 50% US tariffs are expected to severely hit India's economy, potentially shaving up to 0.5% off GDP and threatening millions of jobs. Labour-intensive sectors like textiles, gems and jewellery, and seafood are most vulnerable to this "50% shock".
2030 CWG bid: The Indian Cabinet has approved India's bid to host the 2030 Commonwealth Games in Ahmedabad. The city is considered an ideal host due to its world-class stadiums and modern facilities, and the opportunity to host can boost tourism and create jobs.
Monsoon mayhem: Heavy rains in the Himalayas have killed at least 36 people in India in the past 24 hours, with an additional 30 deaths from a landslide near a pilgrimage site.
Mineral alliance: The Quad nations have launched a Critical Minerals Initiative to build resilient supply chains and reduce reliance on any single country. The goal is to address China's dominance and its use of economic coercion, price manipulation, and supply disruptions.
