India is pursuing an ambitious plan to grow its network of trade agreements across North America, Latin America, Africa, and the Gulf, with negotiations already under way or scheduled with several significant nations, after recently signing its historic free trade agreement with the European Union.

India’s Chief Negotiator for the EU-India Free Trade Agreement, Darpan Jain, stated at an event sponsored by the Peterson Institute for International Economics that New Delhi’s trade strategy now focuses on strengthening commercial ties with almost every major area of the world.

“Our intention, broadly, is to cover the entire globe,” Jain stated. Full hands. Full table. Space is taken up by the mind. As a result, we are all working hard to increase our trade, diversify our relationships, and grow our collaborations.

According to Jain, India has already negotiated trade agreements with countries that account for around 50% of the world’s economy and 50% of global trade in the last five years.

Now, attention is shifting to nations where India has comparatively little trade agreements.

India is pursuing a free trade pact with Mexico in addition to Canada in North America. New Delhi is talking with Chile and Peru in Latin America and has started negotiations with the Mercosur bloc to expand its current Preferential Trade Agreement.

Jain said of Mercosur, “We intend to grow that,” and added that Latin America continues to be a significant area where India seeks to improve its trade presence.

In addition, India is stepping up its involvement in West Asia. The nation is currently in discussions with Qatar, the Gulf Cooperation Council, and other nations in the area, according to Jain, who added that it already has trade agreements with Oman and the United Arab Emirates.

Another priority is Africa. To increase its economic engagement throughout the continent, India is having negotiations with Kenya and the Southern African Customs Union.

India has previously signed trade accords with a number of key partners, including Japan, South Korea, Singapore, and ASEAN nations, according to Jain, who was looking eastward. New Delhi has signed agreements with Australia and New Zealand in Oceania.

These statements were made just a few months after the European Union and India concluded one of the world’s largest bilateral trade agreements, connecting economies that encompass over two billion individuals.

According to Jain, the EU agreement was one of India’s most ambitious trade agreements and demonstrated a strong political commitment to broadening market access and boosting India’s integration into international trade.

There is a strong political desire to boost India’s trade ties with other countries, increase access to other markets, and minimize the challenges our exporters confront, he noted.

He noted that the renewed focus on trade deals indicates a bigger change in India’s economic viewpoint, which includes more openness to imports in addition to attempts to boost exports and improve Indian businesses’ global competitiveness.

Similar tactics are being used by the European Union.

Brussels has already attained preferential trade coverage for almost half of its commerce, according to Christophe Kiener, the EU’s main negotiator, and is now concentrating on finalizing agreements in the Indo-Pacific, including negotiations with Thailand, the Philippines, and Malaysia, while also pursuing discussions with the United Arab Emirates.

Prime Minister Narendra Modi hailed AustralianSuper’s additional investment of $500 million (Australian dollars) in India’s National Investment and Infrastructure Fund (NIIF), saying the move showed the world’s faith in India’s expansion narrative.

As Australia’s biggest pension fund, it now holds 3. 3 billion Australian dollars in India across all asset categories.

PM Modi used the social media site X to declare that the new investment showed international trust in India’s path of progress and reform.

Paul Schroder, Chief Executive of AustralianSuper, declared today in Melbourne that Australia’s retirement fund will invest AU$500 million in India. Once again, the world has shown that it believes in India’s path of progress and change.

According to Prime Minister Modi, it also demonstrates the countless possibilities that our vibrant economy provides to foreign investors.

Paul Schroder, CEO of AustralianSuper, was slated to attend the Australia-India Annual Leaders’ Summit in Melbourne, where the announcement was made on the margins.

The fresh pledge comes after AustralianSuper’s first investment of A$240 million in the NIIF in 2019, which the fund characterized as one of its infrastructure investments with the greatest performance.

Shaun Manuell, Chief Investment Officer of AustralianSuper, stated that the investment demonstrated the fund’s faith in India’s policy environment and long-term growth potential.

Manuell commented that one of our most fruitful collaborations has been AustralianSuper’s investment in the NIIF, which is why we are eager to make another investment to assist increase member returns.

He said that our experience with NIIF shows what is possible when visionary policy, trustworthy organizations, and solid alliances are combined with long-term capital.

Manuell emphasized that policy consistency remained a major element, emphasizing the reasons for the new investment.

Due to India’s robust economic growth and expanding middle class, India is an appealing destination for investment, and the Indian government has simplified the process for institutions to effectively deploy capital, he added.

We are making a second investment in the NIIF because those fundamental strengths remain, and we see the opportunity for higher returns for members.

In 2015, the Indian government established the NIIF to draw long-term institutional investment into the country’s infrastructure industry.

In addition, AustralianSuper has around 2. 8 billion Australian dollars invested in India in private markets, equities, and infrastructure.

Nine boxers from India’s U-23 women’s team advanced to the semifinals of the Asian U-19 & U-23 Boxing Championships, guaranteeing medals after a strong showing in the last-eight stage bouts held across afternoon and evening sessions in Jakarta on Wednesday.

In the afternoon session, Tanu (51kg) defeated Thailand’s Kewalin Norasing by a unanimous decision of 5:0, while Nisha (54kg) similarly defeated Kazakhstan’s Aliaksar Symbat by a decisive score of 5:0. Gulnaz Buribayeva of Kazakhstan defeated Nidhi by a slim 3:2 split decision despite her fierce fight in the 48kg event.

Prachi (57kg) maintained India’s momentum in the evening session, defeating South Korea’s Yejin Oh by RSC in the first round with a dominant victory. Kajal (65kg) defeated Japan’s Arinda Akimoto in a fiercely contested 4:1 split decision, while Nikita Chand (60kg) followed it up with a clinical triumph over Chinese Taipei’s Chen-Xuan Ye by RSC in the third round.

India has guaranteed a total of nine medals in the U-23 women’s competition, as all semifinalists are guaranteed podium finishes with these findings. Tanu (51kg), Nisha (54kg), Prachi (57kg), Nikita Chand (60kg), Kajal (65kg), Shivani (70kg), Muskan (75kg), Naina (80kg), and Priyanka (+80kg) are the boxers who have advanced to the semifinals.

India’s commanding performance in the women’s division demonstrates its increasing strength and depth at the continental level, with a number of fighters now vying for gold medals.

India’s rising talent continues to have a great opportunity to succeed on the global stage at the Asian U-19 and U-23 Boxing Championships, which are being place in Jakarta from July 5 to July 16.

Changes to the Foreign Portfolio Investors (FPI) Regulations have been notified by the Securities and Exchange Board of India (SEBI). These changes replace the dollar-denominated fee system with a rupee-denominated payment mechanism for foreign venture capital investors (FVCIs) and foreign investors.

The new system will go into effect in six months, giving foreign investors and intermediaries enough time to make the transition.

The existing fee of $1,000, according to a SEBI announcement, has been changed to Rs 90,000 in qualifying foreign currency equivalent.

From $2,500 to Rs 2. 3 lakh, the registration cost for FPIs and FVCI in Category-I has also been changed. In a similar vein, the market regulator has modified the late charge and continuance charge.

In accordance with the revised regulations, designated depository participants (DDPs) will be compelled to transfer the costs obtained from FPIs and FVCIs to SEBI within five working days after registration.

The regulator has also streamlined the registration procedure by adding the date of birth or date of incorporation in the common application form for FPI registration.

The change is designed to make it simpler to apply for Permanent Account Numbers (PANs), in accordance with the Central Board of Direct Taxes (CBDT) notice published in March.

For the financial year 2025-26, Sebi gathered $12. 98 million, inclusive of GST, via the continuation, registration, and other fees paid by FPIs and FVCIs.

According to the regulator, the shift to a rupee-denominated fee system addresses operational issues with the current dollar-based system, such as manual accounting and invoicing, a lack of real-time accounting visibility, and delays in financial reporting.

Furthermore, the regulator has changed the fee payment system for custodians, switching from a monthly payment of Rs 85,000 to an annual payment of Rs 10 lakh.

The government has completed the framework for India’s first Index of Services Production (ISP), with the trial monthly series slated to be released on July 14, marking a significant move towards improving the measurement of the country’s services sector.

According to the Ministry of Statistics and Programme Implementation (MoSPI), the proposed ISP will offer a thorough monthly assessment of short-term movements in India’s formal services industry for the first time and supplement the current Index of Industrial Production (IIP).

With a contribution of around 53% to India’s Gross Value Added (GVA), the services sector is a major source of jobs and has become a driving force behind economic expansion, investment, and exports.

Monthly data on outward supplies reported by millions of businesses, according to the ministry, has greatly improved India’s statistical system due to the availability of Goods and Services Tax (GST) data.

MoSPI will utilize the aggregated GST data supplied by the GST network, as well as administrative datasets from the railway, aviation, banking, and insurance industries, for the suggested index.

In order to cover GST-exempt industries like health and education, data from the ASISSE (Annual Survey of Unincorporated Sector Enterprises in Services Sector and Establishments) will also be used.

Nevertheless, the ministry made it clear that it does not need or access unit-level GST data in order to create the index.

According to the statement, MoSPI established a Technical Advisory Committee on Index of Services Production (TAC-ISP) in May 2025, headed by Debjani Ghosh, Distinguished Fellow at NITI Aayog, to create the new index.

The committee conducted extensive discussions about the index’s conceptual, methodological, and operational components. Before the final report was prepared, an approach paper was issued for public feedback in April of this year.

The study suggests that the index should be compiled as a Laspeyres volume index with 2024-25 as the base year, using Gross Value Added weights, and sector-wise indices should be released at the two-digit NIC 2025 level.

The committee has additionally suggested that the sub-sectoral and aggregate indices be issued on a preliminary trial basis in order to gather stakeholder comments and confirm the methodology.

Additionally, it suggested that the ISP be compiled on a monthly basis and published within 60 days of the reference month, offering decision-makers and companies a current indicator of activity in India’s services sector.

India’s economy has become less reliant on monsoon rains over the last ten years, with expanding irrigation networks and changing cropping patterns protecting agriculture and rural demand from the kind of shocks seen in the past.

In the past, poor monsoons typically resulted in significant decreases in rural revenue and agricultural production. According to a research analyst and brokerage firm Bernstein, precipitation in 2002, for example, declined to 81% of the long-period average, resulting in a dramatic decrease in foodgrain output and a severe decline in rural disposable incomes.

However, that connection has weakened over the last ten years. It further stated that even with lower-than-normal monsoons in 2018–19 and 2023–24, India continued to report increasing foodgrain output.

The change has mostly been sparked by increased irrigation availability and a change to year-round agriculture.

According to the Bernstein report, the changing dynamics of monsoons in India necessitate a shift in how we see rainfall and its consequences.

It emphasizes how India’s irrigated land now encompasses close to 60% of its overall farmed area, up from approximately 42% in the early 2000s.

With tubewells and canals acting as significant buffers against rainfall deficits, irrigation coverage in the top agricultural states has increased to over 67% from 54% in 2009.

Additionally, India’s reliance on the monsoon-focused Kharif season has significantly decreased. Until the 1990s, kharif crops accounted for nearly 60% of total foodgrain output. However, in 2025-26, they contributed only 47% of total production. The study highlights how important rabi crops and a new summer planting season that lasts from February to May have become.

It claims that these structural changes imply that bad monsoons no longer pose an immediate threat to food security and are unlikely to hurt rural demand in the way they once did.

The Bernstein study indicates that although minimal precipitation continues to be harmful, it is unlikely to have the same negative impact on rural demand as it formerly did.

The effects of insufficient monsoons are now likely to be more subtle, affecting certain areas of the economy rather than sparking widespread suffering.

For example, food inflation risks are predicted to be more contained and focused on a select few categories, including pulses and vegetables, rather than resulting in a general increase in prices.

According to the brokerage, a record wheat harvest of approximately 121 million tonnes and increased irrigation coverage in important agricultural states like Punjab, Haryana, and Uttar Pradesh should help mitigate the effects of delayed rains.

Similarly, worries about slow Kharif seeding might be overblown. According to the study, although only about 8% of the area that is often grown had been planted by mid-June, this does not deviate much from previous patterns because the majority of Kharif planting occurs in the second week of July.

The research, though, notes that low rainfall does pose a longer-term macroeconomic issue due to increasing electricity demand and groundwater depletion. The reservoir levels have already dropped to some of the lowest points in recent memory.

Reduced rainfall could increase reliance on groundwater and electrically powered irrigation systems, driving up electricity demand from the agricultural industry and further depleting water supplies.

After the first game was rained out, England put on a clinical all-around showing to defeat Team India by 125 runs in the third T20I at Trent Bridge, grabbing a convincing 2-0 lead in the five-match series.

England must not lose this series against the reigning T20 World Cup champion since there are still two matches left to play.

England, who were requested to bat first, amassed a formidable 201/7 in their 20 overs thanks to a fluid 70 from 44 balls by Phil Salt. Sam Curran’s late cameo of 41 off just 24 deliveries ensured the hosts reached the 200-run mark after the opener hit hard at the top.

Despite dropping a few wickets quickly during the middle innings, England recovered admirably, with Jos Buttler adding 36.

Prince Yadav, a debutant for India, was the outstanding bowler, taking 2-30 and having an immediate influence by dismissing Harry Brook and subsequently eliminating the dangerous Salt. Despite making three run-outs, the visitors were unable to slow down England’s scoring rate during the final overs.

England’s sustained pace assault caused India’s batting order to fall apart in response. The guests were bowled out for just 76 in 11. 4 overs after pursuing 202, suffering one of their biggest T20I cricket losses.

Wickets tumbled in groups throughout the innings as England’s bowlers hit often, denying India any chance to establish partnerships.

The series is now completely under England’s control after their crushing victory, and India will have to win the last two games to prevent a series defeat.

Brief scores:
England 201/7 in 20 overs (Phil Salt 70, Sam Curran 41*, Jos Buttler 36; Prince Yadav 2-30)
India 76 all out in 11.4 overs (Josh Tongue 4-28, Jofra Archer 3-29, Adil Rashid 2-14) by 125 runs

Cristiano Ronaldo stated at Dallas Stadium that after Portugal’s elimination from the World Cup in the Round of 16 against Spain, he will not be competing in a seventh global final.

With 27 games, the 41-year-old’s World Cup career finishes second only to Argentina’s Lionel Messi (30), but without the one major trophy he lacks.

He scored 11 goals in 27 games and reached many milestones, including becoming the first player to score in six editions. In the current edition, he scored three goals, including two in Portugal’s 5-0 opening statement against Uzbekistan, and his first-ever World Cup knockout goal, a penalty that sent Portugal past Croatia in the last 32.

“I’m fine, sad to go out of the World Cup like this. But, as I mentioned in the press conference yesterday, I did my best and I leave with a clear conscience, he told SportTV following the game.

The existence of a football player is like that. Sometimes we lose, sometimes we win, and we must keep trying. The fact is that this was my final World Cup, and I’ll now have time to spend with my family so that I don’t make snap judgments.

The 41-year-old first competed in the FIFA World Cup in Germany in 2006, when he scored his first tournament goal against Iran and contributed to Portugal’s first semi-final in 40 years. In addition to scoring at least one goal, he went on to play at Brazil 2014, Russia 2018, South Africa 2010, and Qatar 2022.

I’ll wake up tomorrow with a clear conscience. I earned two UEFA Nations League championships and one European Championship for Portugal. Portugal had never won any championships prior to Cristiano. Hence, I go with a clear conscience. I tried my best. Life continues on, and tomorrow will be a different day.

Ronaldo assisted Portugal in winning the European Championship in 2016 and two UEFA Nations League crowns, but the World Cup continued to be out of reach.

Ronaldo’s World Cup debut occurred in 2006, when he made it to the semifinals, his deepest run ever.

WhatsApp, a Meta-backed messaging platform, has promised the Indian government that its planned username feature would not be introduced in the nation until discussions with authorities are finished.

The government notice seeking clarification on the feature has also given the Meta-owned messaging platform three more days to respond. Friday was the deadline for WhatsApp’s response.

WhatsApp had previously suggested a username function that would let users talk on the site without providing their phone numbers.

Concerns about how such a move may increase the dangers of impersonation, phishing, and online fraud were raised by the Central government last week in a formal notice.

On Friday, a Meta team met with officials from the Ministry of Electronics and Information Technology to discuss the situation after the government urged WhatsApp to put the feature on hold until the security and consumer protection issues it raises are resolved through conversation.

In preparation for a wider deployment later this year, WhatsApp restated earlier this week that the username feature has several built-in protections to ward off impersonation, frauds, and unwelcome contact.

Following concerns about the feature, including those raised by the government, which has requested that the company postpone its implementation in the nation until discussions are completed, the messaging platform responded to a number of often asked questions on X.

Users won’t have to create a username, according to the business, and existing Instagram and Facebook usernames, as well as those of public personalities, celebrities, governmental organizations, and Meta Verified accounts, have been set aside so that only their rightful owners may claim them.