Handpicked updates about India’s business and the business of India
Good morning! Hold on to your seats because we’ve got news for you. The band that basically made our misplaced rebellion in sixth grade automatically cool is finally coming to India for their first ever concert. In a message to fans, Linkin Park co-founder Mike Shinoda called India’s audience ‘incredibly passionate’, adding the band can’t wait to bring their live show here. The bank is set to perform at Mahalaxmi Racecourse in Mumbai, as part of Lollapalooza India in Jan 2026. The band lost lead singer Chester in 2017 to a tragic suicide, but the appeal of the songs and the nostalgia of badly copied high-pitched screams hasn’t faded for us at all. Zero doubt we’ll be humming ‘In The End’ as we write the rest of today’s edition.
Now, let’s get into the Dispatch! 🚀
Today’s reading time is 6 mins.
Markets 🔔🐂🐻
As of the Indian market closed on Aug 28th.
The Indian stock market experienced a significant downturn on Thursday, with the Sensex and Nifty falling sharply. This was a reaction to the 50% tariffs starting out this week.
Climate & Environment
Air Quality Stealing Years
Image credits: ET
Breathing Poison: Air pollution in India is not just an environmental concern, it’s a full-blown public health crisis. According to a recent report by the Energy Policy Institute (University of Chicago) - chronic exposure to polluted air cuts the average Indian’s life expectancy by 3.5 years. Shockingly, every single one of the country’s 1.4 billion people live in areas where pollution levels exceed WHO’s safe standards and 46% live in areas where PM2.5 levels exceed the national standard. This is not a seasonal issue confined to a few “bad air days”. It is the constant presence of microscopic particulate matter along with industrial emissions, vehicular exhaust, and dust that make the air we breathe toxic. Over time, this toxic cocktail is linked to cardiovascular diseases, reduced lung capacity, stunted child growth, and even cancer. In fact, breathing air in some states (e.g.; Delhi) has often been equated to smoking a pack of cigarettes daily, and studies are now directly connecting chronic exposure to increased cancer risk.
Delhi As A Prime Example: If there is one city that epitomizes India’s air pollution problem, it is Delhi. The capital has earned grim global attention for years, with estimates suggesting that residents could be losing up to 12 years of life expectancy due to the air they breathe. During winters, the city regularly chokes under smog, made worse by stubble burning in neighbouring states, a weather inversion that traps pollutants, and relentless vehicular and industrial emissions. The risks aren’t abstract, they are visible in rising cases of asthma, chronic obstructive pulmonary disease (COPD), and lung cancer.
Why Solutions Fall Short: India has not ignored the crisis. The government launched the National Clean Air Programme (NCAP) with a target of reducing particulate pollution by 40% by 2026. Some gains have been made in 2022, certain regions recorded a 19.3% drop in particulate matter, adding nearly two months to average life expectancy.
The Way Forward: Unsafe air is everywhere. The urgency, however, often fades once the smog clears. Unless stronger political will, regional coordination, and stricter enforcement kick in, India risks normalizing a public health emergency that silently steals years from every citizen.
Society & Gender
Women: The Invisible Backbone Of India’s Farming
Image credits: ActionAid India
Women In Agriculture: In India’s vast farmlands, women are everywhere - sowing, weeding, harvesting, tending livestock. According to estimates, nearly 80% of farm and livestock-related activities are carried out by women. Yet, when you look at land records, bank loan files, or income data, their names are mostly missing. They are, quite literally, the invisible backbone of Indian agriculture with a recent 2024 report suggesting that women now form 42% of India’s farm workforce.
The Ownership Gap: One of the starkest challenges is land. Without land titles, women are unable to access formal credit, crop insurance, or government subsidies. This missing link suggests that women may be farming, but they are not acknowledged as farmers. Barely 13% of India’s land is owned by women, despite their overwhelming presence in the fields.
Women Taking Charge: Still, change is happening at the grassroots. In Bihar, the Solar Didi initiative has turned women into managers of solar-powered irrigation services, offering them a steady source of income while transforming water access in villages. Elsewhere, women-led Farmer Producer Organisations (FPOs) are giving female farmers more bargaining power and control over profits. These small but significant shifts show how women are moving from being just farm labourers to decision-makers and entrepreneurs. But here lies the paradox, the so-called “feminization of agriculture” is not always empowerment. Often, it is a result of men migrating to cities, leaving women with double the responsibility, working the fields while still managing households. Without recognition, rights, and resources, women’s increased participation risks being just another layer of unpaid, undervalued labour.
Recognition: For India’s rural economy and food security, women’s contributions are not just vital, they are irreplaceable. Policy reforms that ensure joint land titles, easier access to credit, targeted skilling, and leadership opportunities in FPOs can help bridge the gap. Most importantly, recognising them legally and socially as “farmers” is not optional, it’s overdue.
Business India: Dhanda Hai Yeh!
Auto Tariffs: India's $80 billion auto components industry is hit by Trump's tariffs, with some exports to the US facing a 50% duty. Companies are now looking to new markets and alternative shipping routes to mitigate the impact.
Aviation Woes: ICRA predicts India's aviation losses will widen to ₹95,000-105,000 crore in FY26, as traffic growth slows to 4-6%, the rupee weakens by 3%, and jet fuel prices remain high. The current fleet is 855 aircraft, with 1,600 deliveries pending.
GDP Forecast not great: Nomura has cut India's FY26 GDP growth forecast to 5.8% in a worst-case scenario where the 50% US tariffs last one year - harming exports, capex, and jobs.
… but Economy boomerang suggested: While the Indian economy is facing a immediate struggle with tariffs, an EY report suggests that India could become the world's second-largest economy by 2038, reaching a GDP of $34.2 trillion. The reports cites strong fundamentals despite potential impacts from US tariffs.
RBI’s hunt for shadow banks: The RBI plans to curb "shadow banks" by stopping subsidiaries from duplicating the parent’s lending business. This aims to reduce financial risks, with large gold financiers potentially being hit, as the RBI aligns rules with banks.
New gaming law challenged: A23 has filed the first legal challenge to India's new online gaming Act, arguing it unconstitutionally criminalises skill-based games, like rummy and poker. The law bans all real-money games, and rivals have paused operations. A High Court hearing is set for August 30.
World 🌏
Tesla’s Rough Patch
Image credits: Car Buzz
Tesla’s European Slump: Tesla’s rough patch in Europe just got starker with July registrations falling about 40% year over year, while Chinese rival BYD surged roughly 225%, per industry data compiled from ACEA and reported by multiple outlets. These aren’t one-off blips; they reflect a broader mix of softer EU demand, fiercer competition, and pricing tactics that have squeezed margins.
Why The Drop: Beyond a cooling market, Tesla’s lineup in Europe looks comparatively mature against a flood of fresh models from Chinese brands and refreshed European incumbents. Price cuts that once bought volume are now biting into profits: Q2 2025 revenue fell 12% year over year and Elon Musk warned of “a few rough quarters” ahead, indicating how much now rides on autonomous tech and a lower-cost model that’s taking longer than hoped.
China Inc. Moving In: Even EU tariffs on China-built EVs haven’t stopped Chinese brands from gaining share and planning local production to blunt duties. BYD is pushing ahead with a Hungary plant and a $1B factory in Turkey, positioning for regional manufacturing and logistics advantages. Brussels and Beijing have floated minimum-price ideas to defuse the tariff fight, which could reshape pricing power in the bloc.
The Big Picture: Put together, Europe shows how quickly the EV leaderboard can shift when price, product cadence, and policy move against you. Tesla still has powerful levers - software, brand, and manufacturing scale - but near-term execution risk is real, especially as Chinese rivals localize and EU-China trade rules evolve.
DuniyaDIARY 🌏📒
Image credits: CNN
Mexico’s Tariff Hikes: Pushed by US, Mexico is preparing to raise tariffs on Chinese imports, including cars, textiles, and plastics, as part of its 2026 budget proposal aimed at protecting domestic manufacturers from subsidized Chinese competition.
Apple, Samsung & Xiaomi Ads - Apple and Samsung have issued cease-and-desist notices to Xiaomi over an ad campaign that directly compared Xiaomi’s flagship phone with their premium models.
Kim Jong-un In Beijing? North Korean leader Kim Jong-un will attend Beijing’s military parade alongside Xi Jinping, Vladimir Putin, and over 20 world leaders, commemorating 80 years since China’s victory in the war against Japanese aggression, according to China’s Foreign Ministry.
ByteDance Valuation Surge: ByteDance, the parent company of TikTok, is launching a new employee share buyback this autumn, valuing the firm at over $330 billion.
Nvidia’s Record Revenue: Nvidia delivered stellar Q2 results, reporting 56% year-over-year revenue growth to $46.7 billion, driven by robust AI chip sales and strong data center demand.
Startups thinking of Orbital Data Centers: Startups and space agencies are pioneering data centers in orbit to meet soaring demand for cloud computing.
Eurozone Growth Slows - Economic sentiment across the Eurozone is deteriorating, with sluggish growth and rising concerns from U.S. tariffs dampening optimism, according to reports.
Aur Batao 📰
Monsoon meltdown in north India: Heavy monsoons have paralysed North India's hill travel, with 45 train cancellations freezing tourism. Hotels have suspended bookings for up to 20 days, with some expecting just ₹1 lakh in revenue for September, although a festive season recovery is anticipated.
Bihar on high alert: Bihar police are on high alert after three Jaish-e-Mohammed terrorists from Pakistan entered the state via Nepal, with concerns they may be planning to disrupt upcoming assembly polls. Police have released sketches and tightened patrols as top leaders visit the state.
Palghar tragedy: In Palghar's Virar area of Maharashtra, a four-story building collapsed, killing 17 people, including a one-year-old. Nine were rescued, and the builder of the unauthorised structure was arrested.
