Govt for dedicated zones in industrial cities for MSMEs (Financial Express)
Commerce Minister Piyush Goyal has called for dedicated zones for startups and MSMEs in upcoming smart industrial cities, offering subsidized land, cutting-edge infrastructure, and tech support to fuel innovation and enterprise growth. With 12 smart cities being developed across 10 states under the NICDC, attracting anchor investors and foreign capital through targeted investment conclaves is a central focus, aiming to unlock ₹1.5 lakh crore in investments and generate 40 lakh jobs. Andhra Pradesh stands out with nodes in three corridors, CBIC, HBIC, and VCIC, positioning itself as a major hub in India’s next wave of industrial expansion and startup incubation.
MakeMyTrip to raise over $2.5 billion to slash China-based Trip.com’s stake in company (The Indian Express)
MakeMyTrip is raising over $2.5 billion via equity and zero-coupon convertible bonds to slash China-based Trip.com Group’s voting stake from over 45% to around 20%, amid growing nationalist pressure in India to cut ties with Chinese investors following geopolitical tensions and public backlash. The Nasdaq-listed Indian travel giant aims to reassert its independence and Indian identity, especially after public criticism from EaseMyTrip’s founder and amid rising scrutiny of foreign holdings in sensitive sectors. The move strategically aligns with India’s broader economic sentiment shift, where geopolitical risk is increasingly influencing corporate ownership and capital structuring decisions.
India to lead global oil demand growth, add 1 mn bpd by 2030: IEA (The Economic Times)
India is set to drive global oil demand through 2030, adding 1 million barrels per day, more than any other country, powered by a 2.8% average GDP growth and a rising appetite for transport fuels, particularly petrol and jet fuel. While global oil demand will plateau at 105.5 million bpd by the decade’s end, India’s consumption will climb from 5.64 to 6.66 million bpd, even as domestic output lags and imports cover over 95% of needs. The IEA warns that while this surge reflects economic optimism and an expanding middle class, it is partly underpinned by debt-fuelled consumption, which could introduce future macroeconomic risks.
US-China trade war blows hot and cold for India (mint)
Global trade patterns are shifting as the US-China trade war deepens, with China’s exports to the US collapsing 34.5% while rerouting sharply to ASEAN, the EU, and notably India—where Chinese imports surged 21.7% in May, raising concerns over potential dumping and trade imbalances. Simultaneously, India’s exports to the US rose 17.3%, especially in smartphones and electronics, solidifying its emerging role as a supply chain pivot amid ongoing negotiations for a bilateral trade pact before the July 9 tariff deadline. Despite a modest 1.8% drop in overall merchandise imports, India’s non-oil, non-gold imports jumped 12%, mirrored in a 72.9% surge in IGST revenues, highlighting robust demand for high-value industrial and electronic goods.
