July 4: 'Quad' muscles, US defence pact and bagless-tea-bags

Good Morning 🇮🇳 

The only thing crazier than climbing Mt. Everest once is climbing it 31 times. That’s Sherpa Kami Rita’s indirect way of reminding us that some of us need Google Maps just to find the local kirana store. At 55, this absolute legend led an Indian Army expedition up the 8,849 m giant at 4 am, while we were busy ordering anda‑bread on Blinkit to avoid standing for five minutes in our own kitchens. Makes you wonder: Does Kami Rita ever rest?

Now, let’s get into the dispatch! 🚀 

Today’s reading time is 6mins.

MARKETS 🔔🐂🐻

Second day in the red for the Indian market despite some early gains, because of mixed sectoral performances.  

MINERALS ⛏️🪨
The Quad muscles to circumvent China’s ‘critical minerals’ stronghold

Donald Trump’s trade war tariffs may have triggered global chaos, but they also exposed something critical - China’s iron grip on critical minerals. These minerals include the rare earth elements that power today’s tech revolution. Now, the Quad alliance comprising India, U.S., Australia, and Japan is trying to counter China’s stronghold by creating its own supply chain.

Their newly launched Quad Critical Minerals Initiative aims to secure and diversify global supply chains of critical minerals, materials vital for EVs, smartphones, semiconductors, and clean energy infrastructure. The focus is on reducing dependency on a single dominant (read China) by boosting cooperation, investments, and production capacity within the Quad nations.

What’s the plan? The Quad has formed an industry consultation group with the aim of identifying supply chain vulnerabilities, facilitating cross-border investments, strengthening alternative sourcing, and refining capabilities. This is more than economic strategy; it’s geopolitical hedging in a world increasingly defined by tech and energy autonomy.

Why does India have skin in the game? China currently commands around 60% of global rare earth output, giving it disproportionate negotiating leverage and power on global supply chains. For India, this initiative is not just about insulation; it’s an opportunity to lead. With rich mineral reserves and a rising profile in clean tech manufacturing, India can evolve from an importer to a key player in the global mineral market.

Big Picture: In a multipolar world chasing digital dominance and green transitions, critical minerals are the new oil. The Quad’s move signals the beginning of a resource race, one that’s about resilience, influence, and who gets to shape the future.

DEFENCE 🪖
India, U.S. to ink 10-Year defence framework: A Strategic Power Play

India and the United States are gearing up to sign a 10-year defence pact when Defence Minister Rajnath Singh and his US counterpart Pete Hegseth meet later this year. According to US Defence colonel Chris Devine, this strategic decision was taken during a phone call between Singh and Hegseth on Tuesday. Key topics discussed included:

• Expediting delivery of GE F404 engines to power the Tejas Light Combat Aircraft

• Early finalisation of a proposed deal between Hindustan Aeronautics Ltd. (HAL) and U.S. defence major GE Aerospace for joint production of F414 jet engines in India

• Long-term cooperation, ranging from joint training and military exchanges to deeper defence industrial collaboration

• Build upon momentum of this critical and mutually beneficial partnership across all its pillars such as interoperability, integration of defence industrial supply chains, and logistics sharing

Lift-off for Indian Defence? In the aftermath of Pahalgam and strategically planned Chinese incursions in the past, India needs to flex its muscles and shore up its defensive perception. This new pact adds fuel to India’s defence sector, which has already been revving up with big-ticket collaborations. With enhanced U.S. ties, India can fast-track its ambition to become a major global defence exporter, while upgrading the military ecosystem.

BUSINESS INDIA
DHANDA HAI YEH!

• Assam’s bagless tea bags: Woolah Tea, Assam’s first bagless tea brand, has scored a 20-year patent for its microplastic-free, whole leaf “tea dips.” Made from one bud, two leaves, and a natural string, the innovation came after more than a year and 167 trials. Backed by Shark Tank, Woolah is now going global and representing Assam Tea’s 200-year legacy in New York. 

• India may dodge high tariffs: Moody’s Ratings believes that India could be subject to lower US tariffs compared to many Asia Pacific countries. India could thus emerge as a beneficiary; however, potential shifts in trade flows from resulting tariffs could take years to materialise. 

• IT remains the highest paying sector: IT and ITeS (IT-enabled sectors) lead salary charts across all sectors in India according to Indeed’s PayMap survey. While Freshers can expect a renumeration of Rs 28,600 a month, those with 5-7 years of experience can take home close to Rs 68,900. This trend is largely fuelled by high demand for digital and AI driven roles.

• IPO rush incoming: Meesho has filed confidentially for a ₹4,250 crore IPO, eyeing a Sep–Oct listing. Backed by SoftBank and Prosus, the e-commerce firm clocked ₹7,615 crore in FY24 revenue, trimming losses to ₹53 crore. ICICI Prudential AMC is set to file for a ₹10,000 crore OFS by UK’s Prudential Plc, marking ICICI Group’s fifth listing. India’s IPO scene is heating up with $5.86 billion raised until June and $26 billion more in the pipeline from 143 firms, including companies such as Groww and BoAt.

WORLD: BUSINESS AND GEOPOLITICS 🌍
KYA CHAL RAHA HAI?

• Heatwave running havoc in Europe: As highlighted in an earlier edition - a brutal heatwave is squeezing Europe, shutting nuclear plants in France and Switzerland, fuelling wildfires in Greece and Turkey, and triggering blackouts in Italy. Scientists warn that the early heatwaves and heat domes could make this summer even more dangerous. 

• UAE leads the world in mobile shopping: 67% of UAE shoppers now buy via phone, beating tech-savvy rivals like Saudi Arabia and Singapore. Mobile retail is up 23% since 2022 with Millennials leading the charge.

• French air strike derails summer travel plans: A two-day strike by French air traffic controllers has forced over 170 Ryanair flight cancellations, disrupting travel for 30,000 plus passengers.

• Gaza aid turns deadly: Israeli strikes and gunfire killed 94 Palestinians in Gaza on Wednesday and Thursday, including 45 trying to collect food aid as mentioned by authorities. Amnesty accused Israel of using starvation as a war tactic via its GHF-backed aid program, which critics say is inadequate and dangerous.

Aur Batao: News from across India 📰

• Centre nudges ministers over pending files : For the first time, the Cabinet Secretariat has written directly to Central ministers about files pending over two months, urging faster clearances. Files with delays ranging from 61 to over 180 days were flagged, including files related to the fund release of a state that were pending for more than six months.  

• PM Modi honoured by Ghana: PM Modi was awarded The Officer of the Order of the Star of Ghana—the highest civilian award of Ghana for his “distinguished statesmanship and global leadership”. This is PM Modi’s record-setting 29th honour since 2016. 

Sports and Entertainment

• Liverpool star Diogo Jota dies in tragic crash: Liverpool and Portugal forward Diogo Jota died in a fiery car crash near Zamora, Spain, along with his brother André Silva. His unfortunate demise comes 10 days after marrying childhood sweetheart, Rute Cardoso, with whom he shares three children. Tributes have been pouring in from everywhere, while UEFA confirmed a minute’s silence at the upcoming women’s Euro 2025 matches.

• Historic Hollywood achievement for Deepika Padukone: Deepika Padukone has become the first Indian actress to earn a star on the iconic Hollywood Walk of Fame. Announced for the Class of 2026 under the Motion Pictures category, she reacted with one word, “Gratitude…” Her star marks a historic moment for Indian cinema. 

• AIFF parts ways with head coach Manolo Marquez: India’s men’s football team is on the hunt for its third coach since June 2024 after Manolo Marquez stepped down, with AIFF confirming the exit on Wednesday. Marquez’s short stint as head coach was filled with turbulence, managing just one victory in eight matches. 

• 14-year-old Vaibhav Suryavanshi stuns England: Teen sensation Vaibhav Suryavanshi lit up India U19’s third Youth ODI against England with a jaw-dropping 86 off just 31 balls, leading a thrilling four-wicket win in a rain-trimmed 40-over chase. His 20-ball fifty was the second fastest by an Indian in youth ODIs, featuring nine sixes (an Indian U19 record) and six fours.  

Recommended read

Wimbledon is in full swing, causing some major upsets and brining tennis aficionados together. If you’re a tennis fan, check out this super analysis on the different types of courts and how they impact play.

NOTE FROM THE DESI DISPATCH TEAM

Got thoughts on this newsletter or life in general? Write to us - we would LOVE to hear from you. Just reply to this email. 

If you were forwarded this email/whatsapp - subscribe now at desidispatch.com so you don’t miss out on a daily update.

Keep reading!🚀