Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.

“We Want a Deal, Not a Steal” — India Holds Firm on Trade

India and the US have pushed their trade deal deadline from July 9 to mid-July, even as President Trump enforces steep retaliatory tariffs on 14 other nations. India, however, isn’t on that list yet. The deal is awaiting Trump’s final sign-off, but Indian negotiators are in no rush.

“Vietnam signed too quickly—we’re drawing red lines,” said a senior official, referring to contentious issues like agriculture, dairy, GM seeds, and digital trade. India currently faces a 26% tariff, and with Trump’s August 1 tariff trigger looming, the stakes are high. Trade experts warn these deals reflect pressure, not parity.

Apple’s New Ops Boss is India-Born Sabih Khan

After nearly 30 years behind the scenes, Apple veteran Sabih Khan has been named Chief Operating Officer, taking over from Jeff Williams. Born in Moradabad, Khan moved from Singapore to the US, earning degrees in economics and mechanical engineering.

Joining Apple in 1995, he’s been instrumental in shaping its global supply chain, driving sustainability, and expanding US manufacturing. CEO Tim Cook praised Khan’s values-driven leadership, calling him “a brilliant strategist” and “central architect of Apple’s supply chain.”

Khan officially steps into the role later this month.

India’s Warship Surge to Counter China

India is arming up at sea. Over the next year, the Navy will induct six homegrown stealth frigates—Udaygiri, Taragiri, Mahendragiri, Himgiri, Dunagiri, and Vindhyagiri—under Project 17A. These 6,670-tonne vessels, with 75% indigenous content, are armed with BrahMos missiles and cutting-edge tech.

The ₹45,000-crore project marks a significant upgrade over earlier Shivalik-class ships. INS Udaygiri has already been delivered, and the rest will follow by August 2026.

PM Modi, at a rare tri-commissioning earlier this year, called it a step toward a self-reliant Navy. By 2047, the Navy aims to be fully ‘atmanirbhar’ with 60 warships under construction.

Modi Bags Brazil’s Top Civilian Honour

In Brazil, PM Modi was awarded the Grand Collar of the National Order of the Southern Cross—the country’s highest civilian honour—for deepening India-Brazil ties and advancing global cooperation.

“This is a moment of immense pride for 140 crore Indians,” Modi said, calling President Lula the “architect” of the strategic partnership.

This is Modi’s 26th international award since 2014. Just days earlier, he received Trinidad and Tobago’s top honour—the Order of the Republic—making him the first foreign leader to earn it.

Trump Targets BRICS with 10% Tariff Threat

Donald Trump has launched a fresh broadside against BRICS. Calling the bloc an attempt to “destroy the dollar,” Trump warned that all BRICS nations—including India—will face a 10% tariff if he returns to office.

“If they want to play games, I can play too,” he said. Trump claimed BRICS is not a “serious threat,” but accused it of trying to dethrone the dollar as the world’s standard.

He slammed President Biden’s handling of the dollar’s global status, saying losing it would be like “losing a world war.” Trump added, “The dollar is king. We’re going to keep it that way.”

India and the U.S. are poised to seal a landmark interim trade deal before the July 9, 2025, tariff deadline, with former USTR negotiator Mark Linscott calling it “historic” in an exclusive interview.

Focusing on tariff reductions and market access for industrial goods and select agricultural products, the agreement aims to boost bilateral trade to $500 Billion by 2030.#IndiaUSTrade #TradeDeal #MarkLinscott #Tariffs

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.

25 Crore Workers Strike: Bharat Bandh Takes Centre Stage

India is witnessing one of its biggest labour uprisings. On Wednesday, over 25 crore workers across banking, insurance, coal, postal, and transport sectors are expected to join a nationwide strike—Bharat Bandh—led by 10 central trade unions.

The unions are protesting what they call the Modi government’s “anti-worker, anti-farmer, pro-corporate” policies. The flashpoint? The four new labour codes, which unions say erode workers’ rights, extend working hours, weaken collective bargaining, and decriminalize violations by employers.

Farmers’ unions, including the Samyukta Kisan Morcha, are also backing the strike. “This isn’t just about wages,” said Harbhajan Singh Sidhu of Hind Mazdoor Sabha. “It’s a fight for the soul of India’s workforce.”

China Fumes Over Modi’s Dalai Lama Wish

A SEBI study has revealed a brutal truth—91% of retail traders in equity derivatives lost money in FY2025, with net losses ballooning to ₹1.05 lakh crore, up 41% from the previous year.

Retail participation in F&O also dropped 20% year-on-year, reflecting rising disillusionment. Despite some pullback in volumes, India still sees intense activity in index options.

The data comes as SEBI tightens its oversight of the derivatives market, with new risk-monitoring and transparency norms introduced this year. “The house still wins,” the study suggests, “and most traders are paying—not playing—the market.”

Trump Tariff Tsunami Hits Asia—India Spared, For Now

China has issued a formal protest to India after PM Narendra Modi wished the Dalai Lama on his 90th birthday and Union ministers attended celebrations in Dharamshala. Beijing labelled the Tibetan leader a “separatist” and accused India of violating past commitments on Tibet, which it refers to as “Xizang.”

Chinese officials also reignited the reincarnation debate, asserting that the centuries-old process is under Chinese jurisdiction—not the Dalai Lama’s. India maintained that it doesn’t comment on religious matters and supports freedom of belief.

The Dalai Lama, meanwhile, declared his reincarnation will be decided outside China, reinforcing the deep spiritual-political divide between the neighbours.

Trump Nominated for Nobel After Iran Strikes

President Donald Trump has announced steep new tariffs—up to 40%—on imports from 15 countries, including key Asian economies like Thailand, Cambodia, Indonesia, and South Korea. But India is notably exempt, amid pending talks on a bilateral trade agreement.

Trump says the move is part of his Reciprocal Tariff Policy to counter “unfair trade barriers.” Laos and Myanmar face the steepest duties (40%), while Japan and South Korea are hit with 25%.

India’s absence from the list gives it a temporary export edge in sectors like textiles, toys, and electronics. “Indian products may gain a pricing edge,” said FIEO’s Ajay Sahai.

But with a July 9 deadline for the tariff pause and the trade deal still unsigned, India’s free pass may not last long.

In a high-stakes moment of international optics, Israeli PM Benjamin Netanyahu nominated Donald Trump for the Nobel Peace Prize—just two weeks after the U.S. bombed Iranian nuclear sites.

Netanyahu called it a “historic victory” and praised Trump’s Middle East strategy. Trump, meanwhile, revealed Iran has approached the U.S. for talks and compared the bombings to the atomic strikes on Japan in World War II.

Trump also claimed Hamas is now seeking a ceasefire in Gaza and floated the idea of Palestinian relocation. He sidestepped a two-state solution question, deferring to Netanyahu, who said peace is possible only with Palestinian neighbours who “don’t want to destroy Israel.”

With Assad gone in Syria, Netanyahu believes new alliances can be forged in the region. Peace talk, power plays, and posturing—it’s diplomacy, Trump-style.

Hindustan Times Executive Editor Shishir Gupta speaks with Abhishek Singh, Deputy Editor at Livemint, about the growing friction between China and the Tibetan Buddhist community following the Dalai Lama’s latest succession announcement. The 14th Dalai Lama has made it clear that the spiritual lineage will continue after him and that his successor will be selected by a trust he established, not by the Chinese government. As he nears his 90th birthday, the Dalai Lama’s stance is seen as a direct rebuke to Beijing’s bid to control Tibetan religious affairs. Why is atheist China so unsettled by this declaration? And what are the implications for India-China relations? Tune in to this episode of Point Blank for the full analysis.#dalailama #ccp #chinesecommunistparty #xijinping #buddhism #tibet

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.

Markets on Edge: Five Triggers to Watch

India’s stock markets cooled off last week, snapping a two-week rally. Both the Sensex and Nifty 50 fell 0.7%, amid global trade tension and FPI outflows (₹5,773 crore in July so far). Mid and small caps stayed resilient.

What’s Next?

Five key signals will shape this week:

1. India-US Trade Deal: With the July 9 deadline looming and Commerce Minister Piyush Goyal standing firm, uncertainty lingers.
   

2. Q1 Earnings Kick Off: TCS and Tata Elxsi report July 10.
   

3. Monsoon Progress: Above-normal rains = boost for kharif sowing.
   

4. FPI Flows: Still in withdrawal mode, eyes on earnings and trade talks.
   

5. US Fed Minutes: Could hint at when rate cuts might come.
   

Modi in Rio: Trade, Terror & Teamwork

At the BRICS Summit in Brazil, PM Modi met Cuban President Miguel Díaz-Canel to push ties in Ayurveda, biotech, pharma, and digital payments. The leaders agreed on strengthening cooperation on global issues like pandemics and climate change.

Modi also took a hard line on terror, calling for sanctions after the Pahalgam attack. “Backing terrorists for political gain should never be acceptable,” he said.

UAE’s Golden Gateway for Indians

A lifetime UAE Golden Visa is now within reach for Indians—without needing to buy property.

What’s new?

• Nomination-based entry.
  

• One-time fee: AED 1,00,000 (~₹23.3 lakh).
  

• No Dubai visit needed for pre-approval.
  

• Includes family, business, and job rights.
  

Launched under UAE’s CEPA strategy, this pilot includes India and Bangladesh first, with China and others to follow. Applicants will undergo intense vetting—criminal checks, social media scrutiny, and potential economic value to the UAE.

Yes Bank CEO Search Paused Amid Japan Deal

Yes Bank has paused its CEO search as it awaits RBI’s green light on a ₹13,482 crore investment from Japan’s SMBC Group, which plans to acquire a 20% stake—the largest cross-border banking deal in India.

The board felt it prudent to wait for SMBC’s input before appointing a new chief.

Current CEO Prashant Kumar has been given a six-month extension, and the search firm has been told to stand down.

Fitch calls the SMBC deal a potential game-changer for foreign investment in Indian banks—if RBI opens the door.

Bengaluru Startup’s 12-Hour Days Spark Debate

Work from 10 to 10. Six days a week. Sometimes Sundays too.

That’s the reality at mobile gaming startup Matiks, where founder Mohan Kumar says it’s not a job, it’s a mission.

His post on X set off a firestorm—some admired the grind, others slammed it as burnout in disguise. Critics questioned equity sharing, mental health, and the ethics of glorifying extreme hours.

Kumar insists no one is forced. “We’re not here for paychecks—we’re chasing a dream,” he said, calling his all-under-25 team co-builders, not employees.

Beds in the office, dinners at desks—is this startup grit or toxic hustle?

What do you think? Driven dreamers or burnout in disguise?

Money from mutual funds, bank accounts, and insurance policies often goes unclaimed for years. In this video, we break down how to track and claim unclaimed amounts across mutual funds, bank deposits (via RBI’s UDGAM portal), and insurance. Experts Aprajita Sharma (Mint) and Ankit Garg (Garg Law Chambers) explain the process, key documents, and challenges, including the lack of centralised databases. Start your recovery process today!#mutualfunds #money #insurance #bankbalance #forgottenmoney #money #moneyrecovery #mutualfunds #unclaimedfunds #udgamportal #bankdeposits #insuranceclaim #personalfinance #investmenttips #aprajitasharma #ankitgarg #financialliteracy #moneyrecovery #mutualfundsadvice #howto #claimmoney #financeguide

How to Track Unclaimed Mutual Funds | How to Claim Unclaimed Mutual Funds | How to Track Bank Deposits | How to Track Insurance | How to Claim Bank Deposits | How to Claim Insurance | How to use UDGAM Portal | Aprajita Sharma | Ankit Garg | Mutual Funds Advice

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.

“30 Seconds to Doomsday”: Pakistan’s Nuclear Scare

In a startling disclosure, Rana Sanaullah, aide to Pakistan PM Shehbaz Sharif, revealed that during Operation Sindoor, Pakistan had just 30–45 seconds to assess whether an incoming Indian BrahMos missile was nuclear-armed. The missile had struck Pakistan’s Nur Khan airbase following a deadly terror attack in Pahalgam that killed 26 civilians. India’s swift tri-service retaliation targeted JeM and LeT camps in Pakistan and PoK.

The near-crisis, which ended with Pakistan requesting a ceasefire, underscores how close the region came to nuclear conflict. Sanaullah also questioned former U.S. President Donald Trump’s role in the standoff, hinting at vague international mediation. The episode highlights the razor-thin margins on which Indo-Pak ties rest.

2. Markets Calm, But Tariff Tempest Ahead?

With the Nifty 50 up 4% this month and India’s VIX sliding to 12.44, investor nerves seem soothed—for now. But volatility could return swiftly as Trump’s 90-day tariff pause ends on July 9.

Shrikant Chouhan of Kotak Securities warns the VIX could spike to 19–20 if tariffs return. Globally, too, fear gauges have cooled—the Cboe VIX has dropped from 51 to under 17. While over 50 IPOs, including HDB Financial’s ₹12,500 crore listing, are riding this wave of calm, events like TCS’s July 10 earnings and the FOMC meet on July 29-30 could shake things up again.

Russia has become the first country to officially recognize the Taliban regime in Afghanistan, ending nearly four years of diplomatic isolation for the group. In Kabul, Russian Ambassador Dmitry Zhirnov handed over formal recognition papers to Taliban foreign minister Amir Khan Muttaqi, who called it a “courageous step.”

3. Russia Recognizes Taliban Government

Russia’s move follows its decision in April to remove the Taliban from its terror list, and it now views the group as an ally against ISIS-K. Economic motives also drive this pivot—Russia sees Afghanistan as a transit hub for energy routes into Southeast Asia.

Western nations remain cautious. The U.S. condemned the move as dangerous legitimization, and others like Germany, France, and Britain continue to demand progress on women’s rights before engaging further. The Taliban, now backed by Russia, is eyeing a UN seat—but that path remains fraught.

4. Tata’s Grocery Ambitions Get Serious

Noel Tata believes Star—Trent Ltd’s grocery venture—could soon outshine fashion brands Zudio and Westside. Why? “The food market is just so much bigger than clothing,” he said at Trent’s AGM.

Led by Neville Tata, Star posted a record revenue of ₹8,854 crore in FY25, growing 25% YoY, now contributing over 15% of Trent’s revenue. Despite past losses of ₹1,000 crore, the group is investing ₹2,000 crore this year alone—nearly 3x the total invested in the past two decades.

The secret sauce? Private labels—72% of Q4 sales came from in-house brands. But challenges remain, including competition from Blinkit, Zepto, and Instamart. For now, the Tatas are betting big on your grocery basket.

5. SBI’s Mission: Lead Every District

As it celebrates 70 years, State Bank of India has a bold new target—become the market leader in all 787 Indian districts. Currently, it holds 22.5% in deposits and 19.3% in advances.

Chairman C.S. Setty outlined a three-pronged strategy: defend dominance in strong markets, expand aggressively in metros, and close “white spaces” where SBI has no presence. Specialized branches will be rolled out in areas with deposit strength but low loan penetration.

SBI is also pursuing strategic tie-ups with fintech, agrotech, and digital platforms while rolling out a massive 104-zone outreach to align its workforce. The message is clear: from a 1955 legacy to a digital-first future, SBI wants to own the next decade of Indian banking.

India’s financial sector is entering a new phase with the launch of Jio Black rock , a 50:50 joint venture between Jio Financial Services & & BlackRock, the world’s largest asset manager.Now the combined entity launched 3 debt funds yesterday.#jio #blackrock #mukesh #mukeshambani #mutualfunds #share #jiofinancial #stockmarket