Telecom Minister Jyotiraditya Scindia has clarified that the Sanchar Saathi app is totally optional after reports suggested it would be mandatory on all new smartphones. While the app aims to combat phone theft and fraud, accusations are rife that it might turn into a snooping tool. Meanwhile, Apple is expected to be on the privacy side, and say ‘hells-nah’ to preloading phones with the app.

Now, let’s get into the Dispatch! 🚀

Today’s reading time is 6 mins.

The Indian stock market fell for a second straight day on Tuesday, with the Sensex dropping 504 points and the Nifty losing 144 points. The decline was driven by profit booking and persistent foreign investor outflows ahead of the RBI monetary policy decision.

What happened: China has issued its first batch of streamlined rare earth export licenses, according to a report by Reuters. The move follows a late October meeting between U.S. President Donald Trump and Chinese President Xi Jinping, which eased trade tensions. These streamlined licenses, known as "general licenses," aim to simplify the export process for rare earth materials, which are critical components in various industries. The new licensing regime is seen as a significant step toward reducing export controls and easing global supply chain issues.

What Changed: The introduction of the "general licenses" marks a shift in China's rare earth export policy. Previously, companies were required to obtain a specific license for each shipment, causing delays and bottlenecks for international customers. Now, the new system allows for a broader and more efficient licensing process. Several Chinese companies, including JL Mag Rare Earth, Ningbo Yunsheng, and Beijing Zhong Ke San Huan High-Tech, have already received these licenses for their clients.

The Numbers: The newly introduced licensing system currently applies only to large rare earth companies. If deemed successful, the eligibility to apply for general licenses will expand. The White House has compared these general licenses to the effective end of China's previous stringent export controls. The streamlined process is designed to alleviate the bottlenecks caused by the earlier shipment-specific licensing requirements.

The Larger Picture: The issuance of these licenses could have significant implications for global industries, particularly those in the automotive sector, which heavily rely on rare earth materials. Companies like JL Mag Rare Earth have a substantial presence in Europe, while Ningbo Yunsheng serves clients in both Europe and the Americas. By easing export controls, China is potentially enhancing its trade relations and providing a more reliable supply of these essential materials. However, the long-term impact will depend on the broader adoption and success of this new licensing regime.

What’s the Buzz: Aditya-L1, India's first solar observation mission, is gearing up for a significant year in 2026. The mission will observe the Sun during its maximum activity cycle, which occurs approximately every 11 years. This period is marked by increased solar storms and coronal mass ejections (CMEs), massive bursts of solar wind and magnetic fields. These solar activities can impact Earth's infrastructure, making Aditya-L1's observations crucial. The mission, launched last year, aims to study these events and better understand their effects on Earth and space.

What happened: The Sun's activity is expected to peak in 2026, offering Aditya-L1 a unique opportunity to study solar phenomena. The mission's principal investigator, Prof. R Ramesh of the Indian Institute of Astrophysics, highlights that CMEs can increase from two or three daily to more than ten during peak activity. Aditya-L1 is equipped with a special instrument called the Visible Emission Line Coronagraph (Velc) that allows continuous observation of the Sun's corona.

The Data: Recent data from Aditya-L1 includes a CME recorded on 13 September 2024, which had a mass of 270 million tonnes and a temperature of 1.8 million degrees Celsius. Its energy content was equivalent to 2.2 million megatons of TNT. Despite these massive figures, Prof. Ramesh describes it as "medium-sized." The mission's observations provide critical benchmarks for understanding solar behavior during high activity periods.

Looking Ahead: As 2026 approaches, the Indian Institute of Astrophysics is collaborating with NASA to analyze Aditya-L1's data and prepare for the upcoming solar maximum. Understanding and predicting solar events will aid in safeguarding Earth's infrastructure, including satellites and power grids, which can be affected by geomagnetic storms. The mission's unique ability to study solar eruptions in visible light will provide valuable insights into the Sun's behavior, helping scientists assess the potential impact of future CMEs on our planet and improve preparedness for solar-induced disruptions.

Bajaj Housing Finance Shares Plunge Amid Block Deal Speculation: Bajaj Housing Finance's stock fell 9% to a 52-week low of Rs 94.90 on the BSE due to reports of a block deal involving Bajaj Finance selling a 2.35% stake worth Rs 1,890 crore. Approximately 19.5 crore shares were traded at Rs 97 each. Despite the stock's decline, Bajaj Housing Finance reported an 18% profit rise to Rs 643 crore in Q2 FY26, with revenue up 14% to Rs 2,755 crore.

IPO Market Set for December Surge with 25 Launches: The IPO market in India is expected to see around 25 new launches in December, a significant increase from 10 in October and nine in November. Major offerings include ICICI Prudential Asset Management (₹10,000 crore), Meesho (₹5,400 crore), and Clean Max Enviro Energy Solutions (₹5,200 crore). Analysts attribute the surge to strong investor demand and liquidity.

Inflation Drops to Decadal Low, Opening Door for Rate Cuts: In October, inflation fell to 0.3%, the lowest in a decade and far below the Reserve Bank of India's 4% target. This creates room for potential rate cuts, with the current repo rate at 5.5%. CareEdge predicts CPI inflation will average 3.7% over the next year, suggesting space for policy adjustments.

Mumbai Housing Market Sees Record Registrations: In November, Mumbai registered 12,283 housing units, a 20% year-on-year increase, reaching its second-highest level since 2013, according to Nuvama Research. The value of registrations jumped 13% to ₹174 billion, driven by mid-to-premium demand. However, with property prices rising, affordability issues are emerging, particularly affecting mid-income buyers.

China’s pricing power is undercutting India’s export dreams; India's merchandise exports fell by 12.6% in October 2025, dropping from $31.8 billion to $27.8 billion, driven by declines across major sectors such as engineering goods, petroleum products, and gems and jewellery. Electronics exports, however, grew by 19.05% to $4.08 billion, with smartphones accounting for $2.4 billion. Analysts attribute the broader export downturn to US tariffs and competition from Chinese goods.