The tariff letters that US President Donald Trump has signed on exports from 12 nations are scheduled to be distributed on Monday, July 7.

The US President told reporters on Air Force One that the identities of the nations who will get the letters will only be made public on Monday.

“I signed a few letters, which will likely be sent out around twelve on Monday. He informed reporters, “Different sums of money, different amounts of tariffs.”

“The letters are superior. Sending a letter is much simpler,” Trump continued.

Trump has proposed raising the reciprocal tariffs even further, maybe to 70% for certain nations, and implementing them on August 1.

In April, the US president announced a base tax of 10% on the majority of goods that enter the US, with higher tariffs for specific nations, such as China. Later, those higher duties were halted until July 9.

The United Kingdom and Vietnam are the two nations with which Washington has signed trade deals.

On the delicate subject of trade in dairy and agricultural products, which the US is promoting, India’s high-level official delegation, headed by top negotiator Rajesh Agrawal, has returned from Washington without concluding a deal with US authorities.

There is still some chance, nevertheless, that an interim bilateral trade agreement might be completed by the July 9 deadline at the highest political level in both nations.

From June 26 to July 2, the Indian team was in Washington to negotiate a temporary trade deal with the United States.

India would not rush into negotiating a free trade pact under pressure from any deadline, according to Commerce Minister Piyush Goyal.

Minister Goyal emphasized that India is prepared to enter into trade agreements in the benefit of the country, but that it “never negotiates trade deals with a deadline” while speaking on the fringes of an event in the nation’s capital.

A significant obstacle is the US’s desire for more market access for its dairy and agricultural products; in India, this is a sensitive topic since it affects small farmers’ livelihoods.

In addition to negotiating a temporary agreement before July 9 to obtain an exemption from President Trump’s 26% tariffs, India is also attempting to obtain substantial duty breaks for its labor-intensive exports, including textiles, leather goods, and footwear.

Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings, stated on Tuesday that the Goods and Services Tax (GST) has been one of the most important changes implemented in India in the last ten years.

He claims that in addition to increasing the number of taxpayers in the nation, GST has also made doing business much simpler than it was in the past.

“India has witnessed several important structural changes over the last ten years, and GST stands out among them,” Sharma stated.

The stats make the impact very evident. With an average monthly collection of Rs 1.84 lakh crore, GST receipts in the fiscal year 2024–2025 were Rs 22.08 lakh crore, which was more than 9% more than the previous year. In comparison, Rs 11.37 lakh crore was collected in GST in FY 2020–21, according to Sharma.

He added that the government’s sporadic reforms had led to a notable increase in the number of GST-registered taxpayers.

There were around 60 lakh taxpayers when the GST was originally implemented. That figure has increased to 1.51 crore today, Sharma said IANS.

Sharma acknowledged that there were difficulties during the first phase of the GST’s introduction, but pointed out that many of the problems were resolved by prompt government actions.

“The adoption of GST has grown steadily over time, which is very good for the Indian economy,” he continued.

Sharma concurred with the results of a recent Deloitte survey that indicated 85% of companies thought the GST had improved their operations.

Businesses used to have to cope with a variety of tax rates and compliance requirements. Because of the centralization of the tax system under the ‘One Nation, One Tax‘ premise brought about by the GST, conducting business in India is now considerably simpler, Sharma said.

He added that although there has been significant progress in the last seven to eight years in the implementation of the GST, more can be done.

“We need to concentrate on streamlining the tax process, addressing taxpayer complaints, and guaranteeing quicker refunds in order to proceed more successfully,” he said.

The country’s largest bank, the State Bank of India (SBI), stated on Tuesday that it currently contributes 1.1% of the world’s GDP and 16% of India’s GDP. The bank also stated that it now owns more than 25% of the implementation of all government-sponsored social security programs.

SBI has established 15 crore accounts under the Pradhan Mantri Jan-Dhan Yojana (PMJDY), enrolled 14.6 crore through the Pradhan Mantri Suraksha Bima Yojana (PMSBY), 6.7 crore through the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), and 1.73 crore through the Atal Pension Yojana (APY).

According to the report, the bank contributed 2.53% of corporate income tax (AY26) and made about 40% of the earnings of all public sector banks (PSBs) in FY25.

“With over 52 crore clients, SBI is the third most populated nation on Earth and has a greater customer base than the United States of America. According to figures released by the bank, the size of SBI’s balance sheet exceeds the GDP of 175 nations.

In its 70th year of existence, the largest financial institution in the country has seen its balance sheet climb to Rs 66 lakh crore.

According to the bank, 8.8 crore people have registered for the SBI YONO app, and the number is still rising, placing SBI as the 18th most populated country in terms of YONO users.

As the SBI marks 70 years of service to the country, Finance Minister Nirmala Sitharaman praised the organization.

With more than 23,000 branches, 78,000 CSPs, and 64,000 ATMs, SBI has a significant presence today and is indeed the banker of all Indians. “Its customers have benefited greatly from the digital transformation it has accomplished over the past ten years,” she wrote in a post on social networking site X.

According to the Finance Minister, the SBI has also played a significant role in helping 1.5 crore farmers, 1.3 crore women-led Self-Help Groups (SHGs), 32 lakh street vendors under PM SVANidhi, 23 lakh MSMEs, and lakhs of craftsmen through a variety of programs.

The top asset management firm in India, SBI Mutual Fund, announced the release of SBIMF SmartAssist, an AI-powered chatbot accessible on WhatsApp, on Tuesday.

Through a straightforward, WhatsApp chat-based interface, SmartAssist assists users in learning about mutual funds, investing, and portfolio management, with the goal of streamlining every step of the mutual fund journey.

“We are bringing the power of AI straight to our investors with the debut of SmartAssist, our AI-powered WhatsApp chatbot, which will make investing in mutual funds easier and more accessible. Nand Kishore, MD and CEO of SBI Mutual Fund, stated, “This is a major step in our journey to improve investor experience and adopt tech for growth and efficiency.“

As the Modi government’s flagship program, Digital India, enters its 10th year, significant and revolutionary changes have occurred throughout the spectrum, enabling everyone to access and afford technology.

Digital literacy was poor, internet penetration was low, and the majority of government services were provided on paper when the Digital India Mission was started in 2015.

But as digitalization and penetration increased over time, the nation’s digital footprint grew significantly, and it is now ready to expand internationally.

The nation will undergo even more transformation in the upcoming ten years as it transitions from digital governance to global digital leadership—from India-first to India-for-the-world. Prime Minister Narendra Modi also acknowledged the historic day.

Examining the main achievements of Digital India

At first, pessimism played a major role in obscuring India’s digital revolution journey. But ten years later, India is becoming a leader in digital governance, real-time digital payments have become a worldwide model, and rapid 5G rollouts have attracted international interest.

India claims to have the nation’s quickest 5G rollout. Currently, 95% of people live in India, surpassing populations in continents like Europe, Latin America, and Africa.

At about Rs 10/GB, India offers the lowest and most economical internet in the world. For millions of individuals, especially in rural places, the internet is now a reality rather than a pipe dream.

India is currently leading the world in real-time digital transactions. According to reports, this location processes almost half of the world’s monthly real-time digital payments.

Although the success of India’s optical fiber trail may seem unreal to some, it is true. Throughout the nation, more than 42 lakh optical fiber route kilometers have been installed. Today, e-Government is powered by the internet, which connects everything from large metropolis to isolated villages.

There are more ABHA accounts in the nation than there are people in most other nations. With more than 78 crore Ayushman Bharat Health Accounts (ABHA) established, the nation is building the largest digital health ecosystem in the world.

Indian astronaut Shubhanshu Shukla became the first Indian to reach the orbiting laboratory on Thursday when he successfully docked at the International Space Station (ISS) after a long and arduous 41-year wait.

After 41 years, India now has an astronaut in space. After Rakesh Sharma’s 1984 journey, Shukla, who was born in Lucknow, will also be the second Indian in space.

At 6:30 a.m. ET (4:00 p.m. IST), Shukla and three other passengers from the US, Poland, and Hungary have docked to the Harmony module’s space-facing port aboard Axiom Space’s mission -4.

Ax-4 Commander Peggy Whitson, Pilot Shubhanshu Shukla, and Mission Specialists Sławosz Uznański-Wiśniewski and Tibor Kapu are aboard the SpaceX Dragon spaceship “Grace.”

“Docking confirmed!” In a post on the social media site X, SpaceX stated.

The crew boarded a new SpaceX Dragon spacecraft on the company’s Falcon 9 rocket and took off for the ISS at 2:31 a.m. EDT (12 noon IST) from Launch Complex 39A at NASA’s Kennedy Space Center in Florida.

“Hello everyone, from space, Namaskar. Being here with my fellow astronauts makes me very happy. What a journey it was. “Let’s just go,” said Group Captain Shukla, “was all I could think of as I was sitting in the capsule on the launchpad.

“Something was pushing you back in the seat when the ride began. The ride was incredible. Then all of a sudden there was nothing. He said, “You are floating in a vacuum,” as he described his time in space.

“I am learning like a baby; how to walk and eat in space,” he stated.

The mission “is the journey of India’s human space flight,” he had previously stated.

To satisfy his appetites for home-cooked meals while in space, Shukla is also bringing carrot halwa, moong dal halwa, and mango nectar.

In addition to being a scientific achievement, the Axiom-4 Mission provides evidence of India’s growing influence as a major player in technology worldwide. It strengthens the country’s capacity to spearhead space innovation, advance sustainability, and make a significant contribution to international missions.

Shukla will carry out groundbreaking research on food and space nutrition once she is on board the ISS.

With assistance from NASA, ISRO and the Department of Biotechnology (DBT) collaborated to develop these tests, which are intended to advance knowledge of sustainable life-support systems, a critical component of long-duration space flight in the future.

Additionally, the study will examine how edible microalgae—a nutrient-rich, very promising food source for upcoming space missions—are affected by microgravity and space radiation.

In addition to analyzing transcriptome, proteomic, and metabolomic alterations in several algae species in space as opposed to their behavior on Earth, the experiment will assess important growth indices.

According to a survey released on Thursday, India’s online commerce industry is predicted to grow from a base of $30 billion in 2020 to $300 billion by the end of the decade in 2030, contributing to a $1 trillion digital opportunity in the nation.

According to Bessemer Venture Partners‘ research, this shows it is no more a marginal phenomena serving a small section but has solidified itself as a dominant force within the Indian retail environment for a sizable and expanding portion of the population.

“India offers a digital opportunity worth $1 trillion.” The rise of several consumer markets, platforms, and cutting-edge businesses over the last ten years is evidence of India’s evolving ambitions. We are quite hopeful that many more consumer plays will surface in the upcoming years as a result of this,” said Partner Anant Vidur Puri.

The emergence of new generation consumer enterprises has been made possible by a tailwind trinity of developments, including changing demographics, internet penetration, and policy changes.

According to the survey, fresh businesses will succeed in the Indian market in the future due to the development of content platforms, commerce marketplaces, and shifting customer preferences.

In recent years, the rapidly growing online commerce industry in India has experienced a remarkable surge in growth.

The way consumers obtain items has also been further revolutionized by the recent emergence of rapid commerce, or q-commerce, which has added a new dimension to the online retail ecosystem.

This trend has been led by platforms like BigBasket, Blinkit, Swiggy, and Zepto, which show how profitable and popular quick delivery services are with customers. With firms like Snabbit, Swish, and Slikk meeting specialized needs, this market is witnessing the emergence of the additional trend of verticalized q-commerce.

Also read: The Myths And Realities Of Starting A Successful Ecommerce Business

Last but not least, D2C companies are rapidly serving an aspirational mass-premium market, which is defined by a desire for more recent, more affordable, and higher-quality goods.

The varied tastes of Indian customers for gaming, education, and entertainment are fueling a content revolution in the country. According to the report, “user engagement is rapid, facilitated by frictionless microtransactions or autopay-led subscriptions. Users are characterized by short attention spans and a multitude of accessible platforms across interests, languages, and budgets.”

With brief and interesting content, platforms are adjusting to users’ shortened attention spans. In India, short-form video platforms have seen a 3.6X increase in daily active users over the last five years, putting them in competition with more popular digital platforms.

Additionally, the growth of UPI-enabled microtransactions, which enables businesses to experiment with a variety of revenue models beyond advertisements, is exemplified by the rise of virtual tipping, UPI autopay, and other microtransactions, which are predicted to reach $1.5 billion by 2029.

Spending on wellness services, workout equipment, organic food, protein, and preventive healthcare has increased.

According to the survey, the category of health-focused food and beverage (F&B) has grown from 11% to 16% of F&B spending and is predicted to keep growing as brands have been fast to follow suit.

According to the RBI’s monthly economic bulletin published on Wednesday, a number of high-frequency indicators for May 2025 suggest that India’s industrial and services sectors would see robust economic activity despite the increased level of global uncertainty.

During 2024–2025, agriculture demonstrated a widespread increase in production across the majority of main crops. According to the report, headline inflation in May remained below the target for the fourth consecutive month, indicating that the domestic pricing situation is still benign.

It also emphasizes how favorable financial conditions persisted, allowing rate reductions to be effectively transmitted to the lending market.

According to the report, uncertainty around trade policy and a rise in geopolitical tensions have left the world economy in a state of instability.

On the home front, however, the May provisional projections confirmed that India’s growth would be 6.5 percent in 2024–2025, with a notable sequential increase in Q4. Numerous high-frequency indicators for May show indications of robust economic activity in the services and industrial sectors.

In actuality, India had the largest overall gain in activity among the nations assessed for the Purchasing Managers’ Index (PMI), with the growth in new export orders in May standing out as an exception among contraction in other significant economies. Manufacturing companies’ capacity utilization stayed higher than its long-term average.

Given the agricultural sector’s impressive performance, high-frequency indicators of May’s aggregate demand also pointed to an increase in demand in rural areas. Consumer sentiment polls that look ahead reveal increasing optimism for the future and steady consumer confidence for the present. The RBI report notes that all of these show the Indian economy’s remarkable resilience in the face of global trade, economic, and geopolitical challenges.

Additionally, it emphasizes that headline inflation in May remained below the target for the fourth consecutive month, indicating that domestic inflation is still benign. Food price inflation is sharply and steadily declining as a result of record domestic crop production in the 2024–25 growing season. According to the research, stable core inflation with signs of slight cooling after removing the influence of erratic and high gold and silver prices suggests that underlying inflationary pressures are still low.

It also emphasizes that, despite varying movements brought on by international cues regarding the economic outlook, news pertaining to tariffs, and the changing local situation, equity markets saw moderate advances in May and June. The Middle East’s escalating geopolitical tensions caused the stock market to experience a brief, steep decline before seeing a notable recovery on June 20.

The RBI bulletin further notes that while credit growth slowed in April, particularly in the services and agriculture sectors, non-bank credit sources, such as external commercial borrowing (ECB) inflows, remained robust, albeit somewhat slower than in March. Overall, the state of the economy was still favorable for effectively communicating rate reductions to the credit market.

Additionally, it notes that the external sector remained strong, with sufficient foreign exchange reserves to finance imports and external debt.

In order to inaugurate numerous projects and attend a public yoga session on the International Day of Yoga, Prime Minister Narendra Modi will start his two-day trip to Bihar, Odisha, and Andhra Pradesh on Friday.

On Friday, PM Modi will travel to Siwan, Bihar, where he will lay the cornerstone and officially launch many development projects at noon. Additionally, he will speak to the audience on the occasion. After that, at approximately 4:15 p.m., he will go to Bhubaneswar, Odisha, to preside over a state-level event commemorating the state government’s one-year anniversary. In addition, he will speak to the crowd and lay the cornerstone for several development projects totaling more than Rs 18,600 crore.

The Prime Minister will take part in the International Yoga Day-Mass Yoga Demonstration in Visakhapatnam, Andhra Pradesh, on June 21 at approximately 6:30 a.m. Additionally, he will speak to the audience on the occasion.

“Over the next two days, I will be attending programs in Bihar, Odisha, and Andhra Pradesh,” PM Modi wrote on X on Thursday. Numerous sectors are covered by these programs.

A government press release states that the prime minister would launch a new train service on the Vaishali–Deoria railway line project in Bihar, which is valued at about Rs 400 crore. The PM will also launch the Vande Bharat Express between Patliputra and Gorakhpur via Muzaffarpur and Bettiah, which would significantly improve connectivity in North Bihar.

In keeping with the motto “Make in India – Make for the World,” the prime minister will also unveil a brand-new locomotive that was constructed at the Marhowra Plant and will be sent to the Republic of Guinea.

This factory’s first export locomotive was produced here. They have powerful engines, cutting-edge AC propulsion systems, control systems based on microprocessors, ergonomic cabin designs, and innovations like regenerative braking.
In line with his commitment to conservation and rejuvenation of the river Ganga, the Prime Minister will inaugurate six Sewage Treatment Plants (STPs) under the Namami Gange project worth over Rs 1,800 crore, catering to the needs of people in the region.

In order to give the residents of these towns access to clean and safe drinking water, PM Modi will also lay the cornerstone for water supply, sanitation, and STPs totaling more than Rs 3,000 crore in a number of Bihar towns.

More than 53,600 PMAY U beneficiaries in Bihar will also receive their first installment from Prime Minister Modi. To commemorate the Grih Pravesh Ceremony of more than 6,600 PMAY U built homes, he would also give keys to a select group of beneficiaries.

PM Modi will travel from Bihar to Odisha, where he will preside over a state-level event in Bhubaneswar to mark the end of the government’s first year.

In addition, the Prime Minister will officially launch and set the groundwork for several development initiatives totaling more than Rs 18,600 crore. Critical areas like as drinking water, irrigation, agricultural and health infrastructure, rural roads and bridges, portions of national highways, and a new railway line will all be covered by these projects.

The Prime Minister will officially open new train services that will provide rail access to the Boudh district for the first time, marking a significant milestone in the district’s integration into the national railway network.

The Prime Minister will launch 100 electric buses as part of the Capital Region Urban Transport (CRUT) system, promoting a cutting-edge, environmentally responsible urban mobility network and a significant step toward clean energy and sustainable transportation.

The Odisha Vision Document will be made public by PM Modi. The vision will lay out an ambitious and forward-looking plan for inclusive progress, with a focus on the historic years of 2036 (when Odisha celebrates 100 years as India’s first language State) and 2047 (when India celebrates 100 years of independence).

The Prime Minister will introduce the “Baraputra Aitihya Gram Yojana” program in honor of the contributions of notable Odias. In order to honor Odisha’s past and encourage cultural tourism, it seeks to turn their birthplaces into living memorials through museums, interpretation centers, statues, libraries, and public areas.

The Prime Minister will honor female achievers from throughout the state as he celebrates more than 16.50 lakh Lakhpati Didis, which are emblems of the state’s wealth and independence.

PM Modi will lead the national celebration from Visakhapatnam on International Yoga Day while he is in Andhra Pradesh. Along with about five lakh other participants, he would take part in the Common Yoga Protocol (CYP) session on Visakhapatnam’s beach.

According to the press release, over 3.5 lakh places around India would host Yoga Sangam sessions concurrently. This year, platforms like MyGov and MyBharat have created youth-focused projects under Yoga Unplugged and specific contests like Yoga with Family to encourage widespread participation.

Based on India’s idea of “Sarve Santu Niramaya” (May all be free from disease), this year’s theme, “Yoga for One Earth, One Health,” emphasizes the connection between personal and planetary health and echoes the worldwide vision of communal wellness.

Former head coach Ravi Shastri has given the young captain some wise words of counsel as India gets ready to start a new chapter in Test cricket under Shubman Gill‘s direction.

Shastri advised Gill to maintain his composure and patience as he assumes one of the most difficult positions in international cricket: captaining India in a five-match Test series in England, in an interview with The ICC Review.

Shastri gave the 25-year-old advice, saying, “I think, take your time.”

“It will not be simple. He has been invited to take on the challenging task of leading India on a tour to England.

Gill is the tasked with heading a very young Indian team after veterans Virat Kohli and Rohit Sharma recently announced their retirement from the longest format. In addition to being India’s first assignment in the 2025–27 ICC World Test Championship (WTC) cycle, the next series starts on June 20 at Headingley.

Shastri is still hopeful despite Gill’s comparatively low red-ball cricket record of 1,893 runs at an average of 35.05 in 32 Test matches. He thinks the tour will be a crucial stage in Gill’s development as a leader.

Shastri stated, “I think he will learn from this exposure, but it’s never easy.”

Shastri also reflected on Gill’s recent leadership stint in the IPL 2025, where the youngster captained Gujarat Titans. The former India coach found Gill’s cool and collected manner particularly noteworthy, even though the squad lost in the Eliminator.

“I observed him playing for the Gujarat Titans in the IPL, and he appeared to be quite cool and collected. His demeanor is good.

With a half-century in India’s most recent intra-squad encounter in Beckenham, Gill—who has also been playing excellent white-ball cricket this year—showed that he was up to the task. However, the Test series in England offers a distinct kind of analysis, one that has always put even India’s most seasoned players’ skill and temperament to the test.

India has the chance to end their 17-year Test losing streak in England during this tour; their most recent victory occurred in 2007 while Rahul Dravid was captain.

In closing, Shastri emphasized the journey’s wider significance for Gill. “I believe there is a learning curve for Shubman Gill, but he has matured as a person and has some young players around him.”

The ambitious short-term goal of building 5 million metric tonnes (MMT) of green hydrogen generation capacity by 2030 has been set by India. According to a new analysis released on Thursday, export potential might lead to up to 1.1 MMT in green hydrogen demand, but realizing this goal requires unlocking green hydrogen demand at scale.

According to a collaborative analysis by Bain & Company, the Confederation of Indian Industry (CII), and Rocky Mountain Institute (RMI), this potential can go untapped if there isn’t a corresponding drive on the demand side.

The paper provides a clear roadmap for how India may realize its objective and increase demand for green hydrogen on a broad scale. In order to create a strong domestic and global market for green hydrogen, it highlights the significance of focused policy interventions, strategic sector selection, and export alignment.

Incorporating green hydrogen into existing industrial processes such as fertilizer manufacture, oil refining, and PNG distribution could generate up to 3 MMT of demand by 2030, the paper states.

Globally, green steel, ammonia, and green hydrogen exports may add an additional 1.1 MMT, while public purchases of green steel for infrastructure might release 0.6 MMT of demand.

According to the paper, blending even tiny amounts of green hydrogen—10% in refining and 20% in fertilizers—could be accomplished with no cost increases.

These blend rates could be further increased as production prices continue to drop, allowing for greater demand without placing undue strain on end users.

Opportunities in specialized industries like chemicals, glass, and ceramics are also highlighted in the paper.

These industries presently use a lot of hydrogen, and by 2030, small-scale green hydrogen substitution might increase demand by up to 0.07 MMT, particularly for smaller players that pay more for grey hydrogen.

Leveraging public procurement is one of the report’s other important recommendations. The government can function as an anchor customer and establish long-term demand stability by requiring the use of green steel in government projects like houses, railroads, and bridges.

India is in a good position to meet demand worldwide because to its expanding renewable energy capabilities and comparatively cheap manufacturing costs.

According to the analysis, India could create an extra 0.8–1.1 MMT in demand if it were to capture just 5–7.5% of the green hydrogen import requirements of nations such as the EU and South Korea.

Green steel exports could contribute an additional 0.13–0.18 MMT, particularly to the EU under its new carbon price regulations.

Leaders in the industry praised the report’s conclusions. It serves as a “playbook” for putting India’s green hydrogen aspirations into practice, according to Sumant Sinha, Chairman of the CII Energy Transition and Hydrogen Council.

In order to facilitate broad adoption, Vineet Mittal, the Council’s co-chairman, emphasized the necessity of long-term offtake agreements, inexpensive financing, and input cost optimization.

Although the supply side is already growing quickly, demand-side measures like blending, public procurement, and export tactics are crucial to achieving the 2030 goal, according to Sachin Kotak of Bain & Company.