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Good Morning 🇮🇳
If you thought return-to-office is just a you issue, you're discriminating against machines. A $115M British F-35B stealth jet that has been vacationing in Kerala for the last month is now being forced back to office next week. The stealth fighter plane had a technical snag during a regular fly-by and had to land in Thiruvananthapuram airport. Legend says the Brits spent a month trying to figure out the problem, but it was actually a desi engineer who fixed it by switching it 'off-on'. C U plane mate, thanks for all the memes!
Now, let’s get into the dispatch! 🚀
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MARKETS 🔔🐂🐻
As of market close on July 10
The Indian stock market saw a red day on Thursday, July 10th, as tariff-related uncertainties and caution ahead of the Q1 earnings session continued to weigh on Indian stocks.
Motorcycles 🏍️
Premium bikes to claim 22% market share by 2030
Image credits: ET Auto
India’s two-wheeler market size is estimated at 315.9 billion USD in 2025, with signals that this could reach 347.4 billion USD by 2029. Interestingly, the upward trend also highlights a growing love affair with the premium section of the two-wheeler market, with Crisil Intelligence reporting a growing shift towards the premium segment. With a 19% share in the last fiscal year, the premium motorcycle segment is expected to touch 22% by 2030.
Does the trend suggest anything?
Notably, 23 lakh units of premium motorcycles (engine capacity greater than 150 cc) were sold in the last fiscal year, a sizeable increase from 19 lakh units in FY19. On the other hand, the market share of economy motorcycles decreased from 62% in FY19 to 42% in FY24 (kyunki bhaiya gaadi toh badiya wali chahiye).
Means of transport or style statement?
Initially, vehicles may have served simply as a mode of transport. That said, people are now starting to view their vehicle as an extension of their lifestyles and themselves. Another interesting aspect is the charm of EMI and loans. India’s two-wheeler loan market, valued at $8.34 billion in 2024, is expected to reach ~$15 billion by 2030. Attractive loan schemes from banks and NBFCs, along with government initiatives promoting easy access to credit, are integral factors in fuelling this boom.
The trend is a clear indicator that the country has gotten a taste for the finer things when it comes to two-wheelers. This evolution in consumer mindset—from mileage-focused commuters to power-packed, feature-rich cruisers—signals more than just economic progress; it reflects a cultural shift.
Tech and AI📱
The AI race for control
OpenAI and Meta are taking major steps to reshape the future of AI, consumer hardware, and digital platforms. OpenAI is preparing to launch an AI-powered web browser that will come with a chat interface and AI agent support to handle tasks like booking reservations or filling out forms. By keeping users within its ecosystem, OpenAI aims to collect behavioral data and compete directly with Google Chrome—having even hired former Google Chrome engineers. The race for control of user data through AI-integrated browsers has picked up speed with competitors like Dia Browser and Comet making plays into the market.
Hard Talk
Separately, betting hard on hardware, OpenAI has completed its largest acquisition to date: a $6.5 billion all-stock deal to buy io, a device startup co-founded by legenday iPhone designer and Apple Chief Design Officer Sir Jony Ive. This move gives OpenAI its own hardware division. Meanwhile, Meta has acquired a roughly 3% stake in EssilorLuxottica for around $3.5 billion in an investment that aims to expand its partnership on smart glasses, which include the highly successful Ray-Ban Meta line. Google, in partnership with Warby Parker, plans to launch AI-powered smart glasses after 2025 as well, with Apple aiming for a release by 2026.
What It Means:
Big Tech is thinking beyond just LLMs and chat interface—they’re betting hard on hardware and real-world channels to get access to user interactivy and data directly. While OpenAI is targeting web browsing and consumer devices, the likes of Meta and Google are pushing smart glasses as a key interface.
Why It’s Important:
AI is shifting from being a background tool to the front-end interface people use daily. By controlling both software and hardware, companies can shape behavior, gather richer data, and lock users into their ecosystems.
BUSINESS INDIA
DHANDA HAI YEH!
India’s FTAs will boost the farming sector: Recently, the Commerce and Industry Minister of India, Piyush Goyal, stated that FTAs with Australia, the UAE, the UK, and EFTA countries will boost Indian farmers' market access by reducing barriers and opening new opportunities.
Samsung eyeing India: Amid looming US tariffs, Samsung may make India a key hub for smartphone production by shifting its smartphone production out from Vietnam. Samsung is eyeing India as an export base for the US market, while its factory at Greater Noida in Uttar Pradesh is largely used for domestic demand.
Manipal Hospital cuts Rs 6,000 crore cheque: Manipal Hospitals is set to acquire Pune-based Sahyadri Hospitals for around ₹6,000 crore from Ontario Teachers' Pension Plan (a Canadian global investor with net assets of $194 billion). This expands Manipal's hospital chain to 49 hospitals with 12,000 beds nationwide.
UPI goes global: In an interesting update, the National Payments Corporation of India (NPCI) has signed an agreement with Namibia's central bank to develop a real-time payments system like UPI. NPCI’s consistent efforts have resulted in UPI payments being accepted in countries like France, UAE, Bhutan, Nepal, and Singapore among others.
India’s quick commerce boost: India’s Quick commerce has created 450,000 jobs within three years, led by platforms like Zepto and Blinkit. This growth is transforming consumer habits and reshaping the economy, while fostering synergy between traditional retail, gig employment, and digital convenience.
Karnataka x Berlin’s tech ties: Karnataka and Berlin signed an MoU to boost startup growth, innovation exchange, and AI collaborations. The partnership, focusing on market access and talent mobility, aims to foster innovation between Bengaluru and Berlin while strengthening their tech ecosystems.
WORLD: BUSINESS AND GEOPOLITICS 🌍
KYA CHAL RAHA HAI?
Ukraine: War & Aid! With over 700 drones, Russia launched its largest-ever drone attack on Ukraine, prompting NATO jets to scramble. Meanwhile, a conference held in Rome pledged more than €10 billion towards rebuilding Ukraine, with the EU Commission committing €2.3 billion to kickstart recovery efforts.
Iran's nuclear stance: Iran's President Pezeshkian demands that the UN nuclear watchdog should drop its "double standards" if Tehran has to resume cooperation, citing recent US/Israel bombings and the IAEA's lack of condemnation. Iran suspended cooperation after the 12-day war.
Former South Korean President returns to jail: Former President and People Power Party member Yoon Suk Yeol returned to jail after a new warrant was issued over his martial law bid. He faces insurrection charges, with prosecutors accelerating their probe into obstruction of justice and abuse of power.
Ex-Bangladeshi PM charged with crimes against humanity: Bangladesh's tribunal has charged ousted PM Sheikh Hasina over protester deaths, accusing her of crimes against humanity. The interim government led by Md. Yunus is urging India's "conscience" regarding her extradition.
Global HIV crisis looms: UN officials warn that a sudden withdrawal of $4 billion in US funding for HIV programs, ordered by President Trump, could cause over 4 million AIDS-related deaths and 6 million new infections by 2029.
Aur Batao: News from across India 📰
US visa costs skyrocket: Starting 2026, US visa fees for Indians will shoot up to ₹40,456 (2.5x the current cost), thanks to a new $250 'Visa Integrity Fee' under Trump’s new Omnibus Act. It applies to tourist, student, work, and exchange visas. The fee might be refundable if you exit the US within 5 days of visa expiry without applying for extension or status modification.
MostlySane a TIME100 creator: Prajakta Koli, aka MostlySane, is the only Indian on TIME's first-ever ‘TIME100 Creators’ list for 2025! From YouTube comedy skits to Netflix and Bollywood, she now shares the global space with the likes of MrBeast, Jay Shetty, and Khaby Lame.
SC greenlights Bihar voter roll, T&C apply: The Supreme Court refused to pause the EC’s Special Voter Roll Revision in Bihar, despite 10+ Opposition petitions. However, it questioned the timing while suggesting that Aadhaar, voter ID, and ration cards be accepted as valid documents with the next hearing on July 28.
Haryana quakes with fear: A 4.4 magnitude earthquake with a depth of 10 km hit near Jhajjar, Haryana, on Thursday morning at 9:04 a.m. It shook parts of Delhi, Noida, Gurugram, and Meerut, causing panic as people rushed out of their homes. No damage was reported, but the sudden tremors after heavy rain left many scared.
Push for diversity in judges’ panel: A Chennai-based lawyers’ forum has urged CJI B.R. Gavai to include senior judges from OBC, SC, and ST communities in the Supreme Court and High Court collegiums. They argue that this will ensure corrective justice, broader perspectives, and uphold constitutional values, without requiring new laws. The call aims to break decades of exclusion and bring transparency to judicial appointments.
Sports and Entertainment
India’s silver lining in junior weightlifting: Sixteen-year-old Indian weightlifter Parv Chaudhary lifted 328kg, including 145kg in snatch and 183kg in clean and jerk, to win silver in the men's 94kg category at the Asian junior weightlifting championships in Astana, Kazakhstan.
‘India A’ continues hockey victory streak: The ‘India A’ hockey team ran riot against Ireland, defeating them 6-0 on their European tour, securing their second consecutive victory against them. Next up, they face France on July 12th.
New low for Indian football: The Indian football team sank to its lowest ranking in nine years, dropping six places positioned at 133 in FIFA’s latest ranking. This just signals the mess in Indian football, having recently fired Manolo Marquez, who guided the Blues to a solitary win out of their last eight games.
India’s historic T20 series win: The Indian women’s cricket team created history by winning their first-ever T20 international series in England after a 6-wicket victory, taking a 3-1 lead. Meanwhile, Deepti Sharma also reached a 300-wicket international milestone.
PSG dominates Real Madrid to enter CWC final: PSG crushed Real Madrid 4-0 in the FIFA Club World Cup semifinal, with goals from Fabián Ruiz, Dembélé, and Ramos. The Parisians now face Chelsea in the final, scheduled to take place at the MetLife Stadium on July 14.
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