🩺 Amazon’s next health bet

Good morning. It’s going to be a great week - let’s go after it 💪 

Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

• 🛢️ How India’s avoiding the oil shock

• 🩺 Amazon’s next health bet

• 🗞️ Bite-sized summaries

  • 💰️ $2B Seed round

  • 💾 Chip making concerns

• 🧑‍🍳 What else is cookin’?

MARKETS

🇮🇳 India

• Indian stock markets closed the week on a strong note. Broader indices like Nifty Midcap and Smallcap also rebounded, supported by renewed buying and positive sentiment. All sectoral indices ended in positive territory, led by realty and PSU banks.

🌍️ International

• US stock markets declined on Friday. Investors remained cautious amid persistent concerns over Middle East tensions and mixed economic data. Technology and consumer discretionary stocks led the declines, while defensive sectors showed relative resilience.

OIL & GAS

🛢️ How India’s avoiding the oil shock

The Strait of Hormuz - a narrow but vital waterway - is once again at the center of global tension.

With Iran threatening to shut it down after U.S. airstrikes and rising Israel-Iran conflict, oil markets are jittery. Nearly 20% of the world’s oil passes through this strait, and for India, one of the largest oil importers, 40% of its crude flows through this route. A closure could send prices soaring and slow India’s growth.

But here’s the good news: India might dodge the worst.

• Thanks to a smart diversification strategy, India now sources most of its oil from Russia, bypassing Hormuz entirely via alternate routes like the Suez Canal or Cape of Good Hope.

• In June alone, India imported more Russian crude than from all Middle Eastern suppliers combined.

• LNG supplies are similarly spread out, with imports from Australia, Russia, and the U.S., while Qatar’s gas ships avoid the strait altogether.

Yes, oil prices may spike - Goldman Sachs predicts $90/barrel if tensions escalate - but India has buffers: 9–10 days of strategic oil reserves, fuel exports from private refiners, and policy tools like price subsidies.

Overall: Historically, Iran has never actually shut the strait, and doing so would hurt its own economy and major buyers like China and India. Still, fewer tankers are entering the Gulf, signaling possible short-term disruptions.

Read more: Economic Times

EVACUATION

🩺 Amazon’s next health bet

Amazon India is doubling down on healthcare — this time by bringing diagnostic tests straight to your doorstep. In partnership with Orange Health Labs, Amazon has launched an at-home diagnostics service in six major cities, offering 60-minute sample pickups and results in under six hours.

This move builds on Amazon’s growing healthcare vertical, which already includes online pharmacy and teleconsultation services. With diagnostics added to the mix, Amazon is closing the loop — offering end-to-end care from consultation to medication to lab testing. It’s a natural next step: most doctor visits require tests, and Amazon wants to make that process seamless.

The partnership isn’t new. Amazon’s Smbhav Venture Fund backed Orange Health Labs with a $12 million investment in late 2024, betting early on the startup’s potential. Now, that investment is powering this national rollout.

India’s diagnostics market, pegged at $15 billion and growing at 15% annually, is ripe for disruption. Consumers want speed, reliability, and convenience — and Amazon is betting it can deliver all three. With competition heating up from players like Tata 1mg, PharmEasy’s Thyrocare, and Apollo, the race is on to dominate digital health.

For Amazon, it’s more than just lab tests. It’s a strategic push to become a one-stop health destination, mirroring its global ambitions. As healthcare becomes more digital and home-centric, Amazon’s entry into diagnostics could reshape how millions access care — without ever leaving home.

Read more: Economic Times

GENERAL OVERVIEW

🗞️ Bite-sized summaries

💰️ $2B Seed round - Mira Murati just pulled off a $2 billion power move. Her six-month-old startup, Thinking Machines Lab, has raised one of Silicon Valley’s biggest-ever seed rounds at a wild $10 billion valuation. Backed by Andreessen Horowitz and Sarah Guo’s Conviction Partners, the company is packed with talent from OpenAI, Meta, and Mistral. Murati's mission? Build next-gen AI that works better with humans. Big names like OpenAI cofounder John Schulman have joined the ride. With rivals like Anthropic and SSI also raising billions, ex-OpenAI stars are now leading the hottest gold rush in tech: the AI arms race 2.0.

💾 Chip making concerns - South Korea’s trade chief, Yeo Han-koo, is heading to Washington with a chip on his shoulder—literally. He plans to raise industry concerns over potential US curbs on foreign chipmakers operating in China. With the July 8 trade deal deadline looming, Yeo hinted talks might drag on, citing US political and economic uncertainty. This visit marks round three of tariff talks, where Korea currently faces a 10% blanket tariff and a paused 25% duty. Yeo, newly appointed under President Lee Jae Myung, is also set to push back on US demands like easing rules on American beef imports. Trade drama incoming.

HEADLINES

🧑‍🍳 What else is cookin’?

What’s happening in India (and around the world 🌍️)

• Fact Focus: US, Israeli strikes on Iran nuclear sites pose limited radiation risks.

• India denies use of its airspace by US for Iran strike, calls viral claim fake.

• Smartphone brands shift focus to offline sales in smaller towns.

• Snap Inc acquires social calendar app Saturn to deepen Gen Z engagement.

• Kolkata metro railway using sustainable braking technology to reduce carbon emissions.