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Good Morning India 🇮🇳
Are you on your way to get your take-home rations from the anganwadis? Well, don’t forget your face. Yes, you read that right. Facial recognition for ration has stirred up a disagreement between Congress and the Center as the latter claims it’s tech for transparency. P.S. - Sorry, John Cena. IYKYK.
Now, let’s get into the dispatch! 🚀
Today’s reading time is 5 mins.
MARKETS 🔔🐂🐻
As of 24th June, 10pm
Market turned green on news of a ceasefire between Israel and Iran, lower oil prices and positive global cues.
Today’s notable gainers were Adani Ports, Tata Steel, Kotak Mahindra Bank, and top losers were PowerGrid, IndusInd, Maruti, NTPC
Environment ♻️
Electronic Waste: The dark side of tech advancement
Image credits: Geneva Environment Network
The world has taken giant technological strides in the last decade, with India being one of the main beneficiaries. However, in an era where our gadgets grow smarter by the day, the waste they leave behind is becoming a silent crisis. As a result, India has emerged as the third-largest generator of e-waste, with 3.8 MMT (million metric tonnes) produced in FY24, a 100% surge from the last decade. To put it in perspective, that pile of discarded tech could roughly be worth $6 billion.
The E-waste landscape in India
Households contribute nearly 70% of this e-waste, with the remaining 30% traced back to commercial use. Refrigerators alone account for 675,000 tonnes, followed closely by washing machines (630,000 tonnes) and air conditioners (115,000 tonnes). As appliances evolve faster than ever, they’re being discarded just as quickly.
The crisis
As of 2022, only a quarter of the e-waste produced was formally recycled. These products contain toxic substances. When functional, they pose no harm, but once they become waste, it sounds an alarm bell for the environment. Children and pregnant women are particularly vulnerable, as poor e-waste handling can lead to impaired lung function, premature births, and neurodevelopmental disorders.
We’ve celebrated the digital boom, right from the ‘dot com’ boom to billion-dollar dreams born out of garages and rightly so. But there’s a flip side to this tech triumph. E-waste may not be on the agenda at election rallies, manifestos or viral hashtags, but it’s a slow-moving poison.
Economy 📈🇮🇳
India’s $40 Billion Spending Surge
Image credits: TOI
What’s happening?
A $40 billion consumption wave is quietly building under India’s economy, and it’s expected to crash into markets over the next 18–24 months. With tax cuts, salary hikes, and cheaper loans fattening wallets, analysts see this as the next big theme for investors. HSBC estimates a $30–40 billion boost to discretionary consumption, or nearly 15% of India’s $250 billion base.
What’s Driving It?
Experts are seeing growing signs that consumption indicators in India are poised to improve as policy support continues to build. Inflation remains mild, Real wages - especially rural - are rebounding and personal credit growth is recovering. Consumption is expected to soon outpace GDP, as incomes stabilize and policy support kicks in. Four factors are contributing to this $30-40 billion boost:
Lower taxes – $12 billion in savings
8th Pay Commission – 15% salary hike, unlocking $18–26 billion for govt and defence workers
Cheaper mortgages – $3–4 billion saved from falling rates
100 bps rate cuts, ₹12 lakh crore in liquidity easing, and easier NBFC/MFI rules fuelling credit growth.
How should investors think about this?
Though hard to point out where the money will go, sectors will benefit most, the average Indian consumer is clearly heading toward a higher-spending mode.
HSBC’s Yogesh Aggarwal highlights that the consumption uptick is broad‑based, with spending increasing notably in automobiles, consumer goods, electronics and “out‑of‑home” services such as dining
BNP Paribas’s Kunal Vora points to the food delivery and quick‑commerce players—specifically Swiggy and Eternal (Zomato) as key beneficiaries. These firms now form a functional duopoly and are expected to generate significant cash flows from India’s $1 trillion retail opportunity
Nomura’s highlighted GCPL, Marico and Tata Consumer — firms that are showing strength in pricing, premiumisation, innovation, and brand equity
Edelweiss Mutual Fund expert said that the pieces may finally be falling in place. He believes the second half of the year will mark a decisive turn in consumption, calling it the “dark horse of 2025”.
Experts are suggesting that macro tailwinds are visible, the liquidity is real, and the runway looks unusually long. So if you’re looking to where to invest your money - maybe research more on consumption stocks. But remember, none of this is investment advice.
BUSINESS INDIA
DHANDA HAI YEH!
World’s largest Green Ammonia Tender: The Solar Energy Corporation of India is set to finalise a massive tender on June 26 for 724,000 tonnes of green ammonia annually across 13 fertiliser plants, aiming to reduce reliance ammonia produced through fossil fuels.
Adani moves: Adani New Industries Limited (ANIL), the clean energy unit of Adani Group, commissioned India's first 5 MW off-grid green hydrogen pilot plant in Kutch, Gujarat. It is powered entirely by solar and integrated with battery storage - allowing it to operate “off-grid”. Additionally, Adani Airports Holding Limited secured $1 billion from global investors for Mumbai International Airport's expansion, modernisation, and green initiatives
Walmart’s India dhamal: US retail giant Walmart’s CEO, McMillon, confirms that their $10 billion annual sourcing target from India by 2027 is on track. They aim to strengthen ties through exports and a digital push.
Defence Ministry’s massive contracts: India’s defence ministry cleared ₹2000 crore for 13 emergency contracts. This will strengthen the Indian Army's counter-terror operations with new tech, improving troop awareness, lethality, mobility, and protection.
VI is still waiting for help: The central government is considering options to provide Vodafone Idea (VI) relief on ₹84,000 crore dues. Options like extending repayment to 20 years or simple interest are being explored to save the telco from collapse.
Kamath Brothers InCred dive: Zerodha founders invested ₹250 Crore in InCred ahead of its IPO, securing a minority stake in the fintech.
WORLD: BUSINESS AND GEOPOLITICS 🌍
KYA CHAL RAHA HAI?
Uncertain ceasefire: A U.S. intelligence assessment found that recent U.S. airstrikes on Iran’s nuclear sites failed to destroy the program—only setting it back by a few months. Meanwhile, the ceasefire remains fragile and uncertain amid mutual accusations of violations within hours of its initiation
Historic first for electric planes: Beta Technologies just made history with its first all-electric plane, Alia CX300, transporting passengers for 130 km in the US from East Hampton to JFK for a meagre sum of $8 (Rs 694). Light on the pocket and easy on the environment. Two birds with one stone?
Burning for days: Wildfires on Greece’s Chios Island raged into a third day torching forests and farmland. Over 400 firefighters, assisted by 14 helicopters and four aircraft, are attempting to douse the fires.
New York to get its own Nuclear plant: New York is set to get a new nuclear plant (the first major nuclear plant in the US in over 15 years). With the location still undecided, it is believed that this plant can generate 1 gigawatt of energy, ‘enough to juice up a million homes’ in the words of Governor Kathy Hochul.
Oman introduces historic tax bill: Oman becomes the first Gulf nation to roll out income tax, aimed at reducing dependency on oil revenue. It aims to implement a 5% income tax in 2028 on earnings above 42,000 rials ($109,000), targeting the top 1%
Paris music fest turns sinister: Around 145 people were pricked with mystery syringes during France’s Fête de la Musique, sparking panic. Twelve suspects were arrested, and authorities are probing whether the syringes carried drugs like Rohypnol or GHB
Aur Batao: News from across India 📰
Operation Sindhu — India flies home 2,300+: India’s ‘Operation Sindhu’ has now brought home 1,713 Indians from conflict-hit Iran, with three more evacuation flights scheduled in the next few days. Meanwhile, India’s Israel evacuations began on June 23. So far, 594 citizens have been flown out via Egypt and Jordan, with IAF’s C-17 aircraft conducting missions.
ANI vs YouTubers: Asian News International (ANI), in its suit against YouTuber Mohank Mangal, disclosed for the first time that it has charged up to Rs 45 lakh from creators whose YouTube channels it has put on death row with copyright strikes. ‘Fair Use’ or legal extortion, what do you think?
India Breaks into Top 100 on Sustainability List: India now ranks 99th among 193 nations on the UN’s 2025 Sustainable Development Goals Index, its best-ever showing with a score of 67.
Tripura hits full Literacy milestone: Tripura is now officially “fully literate” with a 95.6% literacy rate, CM Manik Saha announced, citing ULLAS data. From just 20.24% in 1961 to 95.6% in 2025, the state has made a big leap.
Diplomacy over disputes: India’s NSA Ajit Doval met China’s top diplomat Wang Yi in Beijing on June 23, calling for a broader reset in ties. They discussed resuming flights, boosting links, and restoring Kailash Manasarovar travel. With PM Modi likely to visit China for the SCO summit in September, both sides pitched for managing border tensions wisely and building long-term trust.
Sports and Entertainment
India vs England 1 Test Result (Anderson – Tendulkar series): England defeated India by 5 wickets with 84 balls to spare in the first test at Leeds. Ben Duckett was awarded ‘Player of the Match’ for his contributions. Despite the result, India can take some positives as Rishabh Pant shone with the bat, scoring two centuries, and Jasprit Bumrah getting a 5-wicket haul.
Record victory for Blue Tigresses: The Indian Women’s National football team recorded its biggest victory in an AFC Women’s Asian Cup (final round and qualifiers) after defeating Mongolia 13-0. Pyari Xaxa stole the show by netting 5 goals.
Cricket icon ‘Dillip Doshi’ passes away: Former India spinner Dilip Doshi passed away in London at the age of 77, after a cardiac arrest, leaving the Indian cricket community heartbroken. He played 33 Tests.
Retro Movies are back: Prime Video now offers National Film Development Corporation (NFDC) – Cinemas of India as an add-on. For ₹199/year, you can stream iconic films from legendary Indian directors.
Diljit in Trouble: Calls for boycotting Diljit Dosanjh over "Sardaar Ji 3" casting a Pakistani actress are gathering news
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