All you need to start your day informed in under 6 mins
Good Morning 🇮🇳
In the most teen patti at the Diwali party vibe, Maharashtra Agriculture Minister Manikrao Kokate was caught playing Junglee Rummy on his phone right inside the Assembly—while the state’s farm issues were literally on the line. Opposition leaders called it an insult to democracy, but Kokate hasn’t said a word. Legend says he’s still holding out for that flush. We think he’d rather fold and call it all muflis.
Now, let’s get into the dispatch! 🚀
Today’s reading time is 5 mins.
Exports 🏗️
Big Export Energy: Record Highs & Global Moves
Image credits: India Briefing
India is emerging as a global export powerhouse, with exports growing from $468.4 billion in 2014-15 to a record $824.9 billion in FY2024–25. This marks a pivotal shift and gives wings to India’s vision of becoming an export hub.
Sector-wise contribution: Electronics exports surged by 47% to $12.4 billion, and automobile exports rose by 22%, led by record passenger vehicle shipments. Maruti Suzuki alone captured nearly half of India’s car export market. The expansion of India’s export profile isn’t limited to electronics and autos; shipments of coffee, tobacco, rice, jute, meat, tea, carpets, plastics, ready-made garments, drugs & pharmaceuticals, engineering goods, and fruits & vegetables have all seen strong growth, with service exports soaring to a historic $387.5 billion, up 13.6%
Advantages and obstacles: With supportive schemes like Production Linked Incentive (PLI), Make in India, and global companies relocating production, India’s export ecosystem is building momentum. However, challenges like dependence on Chinese components and slow port clearances remain on the radar.
These impressive gains come even as domestic auto sales slow down, highlighting India’s transformation into a reliable alternative manufacturing hub. However, imports also grew significantly, reaching $915 billion in FY 2024-25. India’s export engine is clearly shifting gears, driven by policy support and global demand. However, India’s next big leap should be turning this export momentum into a trade surplus, where exports consistently outpace imports.
Economy 🏦
RBI’s Credit Crunch & Cash Splash
Image credits: KNN India
According to data released by the RBI, it has pumped nearly ₹10 lakh crore into the banking system since December 2024 to ease liquidity (i.e., making it easier for banks to access money). Despite this push, the efforts haven’t translated into increasing credit growth.
Expert speak: Non-food credit growth slowed to 9.8% YoY in May, down from 11.2% in April and 16.2% a year ago. According to global financial services group Nomura, credit expansion could further slow to 7–8% by March 2026.
What the jargon?! In simpler terms, people and businesses are borrowing less, which usually signals a sign of caution about the economy or future spending plans. Analysts from J.P. Morgan argue that simply pouring liquidity into the system doesn’t spur loans; instead, lending demand itself fuels liquidity growth. The RBI, in response, has withdrawn about ₹7 lakh crore from the system.
The final take: New bank loans were significantly cheaper this May compared to a year ago, yet borrowers remain cautious. With uncertainties looming, the RBI’s transmission of rate cuts into broader economic activity remains incomplete. The real challenge for the RBI? Not just handing out cash, but building confidence so that India starts borrowing, building, and spending again.
BUSINESS INDIA: Dhanda Hai Yeh! 📈
India’s market dip: India’s stock market just slipped to the 4th spot in Asia-Pacific investor rankings, now trailing Japan, Taiwan, and South Korea, thanks to their semiconductor boom. Only 10% of fund managers are bullish on India, compared to 32% favouring Japan. What we think: everyone wants chips, and not just with chai.
Deal or no deal?: India and the US wrapped up a week of intense trade negotiations, racing to seal an interim deal before August 1. Sticking points include US demands on genetically modified crops like soya and corn. India risks up to 26% tariffs should these negotiations fail.
New clear wasooli: The government is rolling out the red carpet for private players (read: their wallets) in civil nuclear power, as it targets 100 GW capacity by 2047. Amendments to key laws, including the Atomic Energy Act and the Civil Liability for Nuclear Damage Act, are expected to open the sector to Indian and global investors.
GST scam surge: GST officers uncovered ₹15,851 crore in fake input tax credit claims from April to June 2025—a 29% jump from last year. 3,558 bogus firms were identified, 53 people arrested, and ₹659 crore recovered.
On Honda, it’s ladies first: Honda aims to capture 30% of India's two-wheeler market by 2030, up from its current 27%. The company sees opportunity among women, who currently account for just 10% of industry sales. While the plan is for electric vehicle expansion, inadequate charging infrastructure remains a hurdle.
Crypto heist: Leading Indian crypto exchange, CoinDCX, suffered a $44 million hack on an internal operational account. The company has assured that no customer funds were affected as they work with cybersecurity partners to recover assets. Losses will be covered from company reserves.
WORLD: KYA CHAL RAHA HAI? 🌏
Brahmaputra battles: China begun building the world’s largest hydropower dam on the Brahmaputra River in Tibet, with a staggering investment of $168 billion. India and Bangladesh are concerned the “mega dam” could disrupt water flow, impact flood plains, and spark geopolitical tensions.
EU squeezes Russia: The EU hit Russia with its 18th sanctions package, targeting oil, shipping, and finance in response to the Ukraine war. Highlights include a new oil price cap (around $47.60/barrel), a ban on 105 more ships from EU waters, and cutting off Nord Stream gas pipeline transactions. The Nayara refinery in India, part owned by Russia’s Rosneft, is affected.
Show of strength: Thousands rallied in Dhaka in support of Jamaat-e-Islami, Bangladesh’s largest Islamist party. They demanded fair elections and an Islamic government, signalling a potential political shift after the ouster of former PM Sheikh Hasina.
Trump taps out: Donald Trump's funding cuts have stalled dozens of US-backed water and sanitation projects globally, leaving millions at risk in 16 countries. The stalled projects threaten health and safety in vulnerable communities where clean water and sanitation remain out of reach.
Aur Batao: News from across India 📰
Less AI, my lord: In a first, the Kerala High Court has issued an AI usage policy, banning district courts from using AI tools like ChatGPT or Gemini for legal reasoning or decision-making. The new policy basically says, “Don’t do your homework with AI, please.” Judges must supervise, verify, and log every AI use, and avoid any unapproved cloud tools.
Made-in-India Malaria vaccine: ICMR, NIMR, & DBT-NII are developing AdFalciVax, India's first indigenous recombinant chimeric malaria vaccine. Designed to protect against human infection and reduce community transmission, it is still in early R&D but could mark a big step toward malaria eradication under Make in India initiative.
Stormy start to Monsoon Session: As the Monsoon Session kicks off July 21, the Centre has agreed to the Opposition’s demand for a debate on Operation Sindoor. Meanwhile, the INDIA bloc held a virtual meeting with 24 parties and listed 8 major issues to raise, including the Pahalgam attack and foreign policy direction.
Manipur: new government? The Manipur Democratic Alliance (MDA) expects a new elected government to be in place by early August, before Parliament’s Budget Session ends on August 21. Dismissing talk of extending President’s Rule as “bogus,” the MDA blamed delays on “selfish” MLAs and urged all parties to cooperate in restoring democratic governance.
Sports and Entertainment ⚽
Wrestling’s gold rush: Indian wrestlers Antim Panghal (53kg) and Harshita (72kg) just channelled their inner Geeta-Babita and clinched gold at the Budapest Ranking Series. Panghal beat Natalia Malysheva 7-4 while Harshita won her four round-robin matches. Neha Sangwan secured silver in the 57kg category.
Rain check at Lord’s: England women beat India women by eight wickets in a rain-reduced 2nd ODI at Lord's, levelling the series 1-1. Sophie Ecclestone was Player of the Match with a crucial spell of 3-27 in 6 overs. The series-deciding third game is set for Tuesday.
Anderson-Tendulkar trophy: The England-India Test series, formerly the Pataudi Trophy, has had a glow up and rebranded into the Anderson-Tendulkar Trophy. Pace legend James Anderson admits feeling "completely out of place" sharing a name with Sachin Tendulkar (honestly, who wouldn’t?), calling it an "incredible honour."
Football blues: The All India Football Federation received 170 applications for the men's national team coach position following Manolo Marquez’s departure. The team is currently ranked 133rd in FIFA rankings, its worst ranking in nine years.
Injury time woes: India pacer Arshdeep Singh is likely to be ruled out of the 4th Test due to a cut on his bowling hand. Meanwhile, Akash Deep's groin niggle also makes him doubtful, adding to India's injury concerns for the Manchester match.
NOTE FROM THE DESI DISPATCH TEAM
Got thoughts? Write to us - we would LOVE to hear from you. Just reply to this email.
If you were forwarded this - subscribe now at thedesidispatch.com so you don’t miss out on a daily update.
Join the exclusive Desi Dispatch community here: WhatsApp community
Keep reading!🚀