🎯 Ambitious goals

Good morning. Sonakshi Sinha got married to Zaheer Iqbal yesterday and their wedding ceremony photos have got us in our feels.

All the love and best wishes to the now married couple 🧑‍🤝‍🧑 💏 

- Ruchirr Sharma & Shatakshi Sharmaa

In today’s news

• 🎯 PM Modi’s Goals for India

•  🇮🇳 🇺🇸 India and US strengthen ties

• 🗞️ Bite-sized summaries

  • Drone delivery

  • The NEET controversy

  • Biz is bustling

• 🧑‍🍳 What else is cookin’? (quick links)

• 🍿 Entertainment, Entertainment, Entertainment

🎯 PM Modi’s Goals for India

Prime Minister Narendra Modi has set an ambitious goal for India to become a developed economy by 2047.

For all intents and purposes, this seems like a stretch. 

But despite recent political challenges, analysts believe this vision is achievable if the country focuses on four critical areas:

1. Infrastructure Development: India has made significant strides in modernizing its transportation networks. Continued investment in ports, railways, and highways is crucial for attracting foreign investors and facilitating business growth.

2. Manufacturing Capabilities: Modi's push for self-reliance and becoming Asia's manufacturing powerhouse is gaining traction. Tech giants like Apple and Google are increasingly bringing production to India, with a particular focus on semiconductor manufacturing.

3. Employment: Tackling high unemployment rates and addressing the skills mismatch in the workforce are top priorities. Improving education standards and vocational training will be key to creating equitable job opportunities across sectors.

4. Foreign Investment: While India's stock market remains attractive to global investors, foreign direct investment (FDI) can be improved. Easing investment processes and potential U.S. interest rate cuts could boost FDI inflows.

Overall: As Modi's coalition government begins its third term, the focus will be on maintaining economic momentum and improving living standards for millions of Indians. Success in these areas will be crucial for realizing India's ambition of joining the ranks of developed nations by 2047.

Read more: CNBC

 🇮🇳 🇺🇸 India and US strengthen ties

In a significant diplomatic development, India and the United States have reaffirmed their commitment to boosting defence and trade ties. 

This follows National Security Adviser Jake Sullivan's two-day visit to New Delhi, which marked the first high-level U.S. visit since Prime Minister Narendra Modi's recent electoral victory.

Here’s the TL;DR:

• Sullivan's meeting with his Indian counterpart, Ajit Doval, focused on advancing the Initiative on Critical Emerging Technologies, aiming to foster collaboration in crucial areas such as semiconductor production and artificial intelligence development.

• The talks also emphasized the need for increased cooperation, particularly in funding innovative research in semiconductor manufacturing, clean energy, and machine learning. Discussions also touched on the potential co-production of land warfare systems.

Why now? 

• This strengthening of ties comes at a time when both nations are warily eyeing China's growing assertiveness in the Indo-Pacific region. The relationship between India and the U.S. has been described as "among the most consequential in the world" by both sides.

• However, the relationship has faced challenges, including recent allegations of Indian involvement in assassination plots against Sikh separatists in North America.

• Despite these hurdles, both nations appear committed to moving forward with their strategic partnership.

Overall: As India aims for developed nation status and the U.S. seeks to balance power in Asia, this relationship continues to evolve as a cornerstone of regional stability and economic growth.

Read more: NBC News

🗞️ Bite-sized summaries

🚚 Drone delivery - Blue Dart, in partnership with drone technology company Skye Air, has launched drone deliveries for courier services, aiming to revolutionize last-mile delivery in India's expanding e-commerce sector. Building on previous Visual Line of Sight (VLOS) and Beyond Visual Line of Sight (BVLOS) trials, this initiative promises same-day delivery for shipments, reducing delivery times and environmental impact. While specific locations and package details were not disclosed, the move follows Skye Air's recent announcement of drone deliveries in Gurugram.

📜 The NEET controversy - The head of India's National Testing Agency (NTA) has been dismissed following accusations of irregularities in recent higher education entrance exams, particularly the National Eligibility Cum Entrance Test (NEET) for medical studies. The controversy arose when thousands of candidates secured unusually high marks in the NEET, prompting allegations of cheating and calls for a rerun of the exam. Other issues include a leaked question paper for a PhD fellowship exam and the last-minute postponement of a post-graduate medical entrance test. These incidents have sparked widespread protests across India, with opposition parties and student groups criticizing the government's handling of the education system and calling attention to the pressures students face in a country with high unemployment.

📈 Biz is bustling - India's business activity strengthened in June, with the HSBC Manufacturing, Services and Composite Purchasing Managers' Index (PMI) rising to 60.9 from 60.5 in May. The survey indicates robust growth in both manufacturing and services sectors, driven by increased domestic demand. Job creation was at its fastest pace in over 18 years as firms expanded their workforce to meet rising capacity pressures. Input cost inflation moderated, improving corporate margins, particularly in manufacturing. While new export orders slowed, they remained above historical averages. However, the future output index fell sharply, suggesting some caution in long-term optimism.

🧑‍🍳 What else is cookin’?

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

• Why deal sizes are shrinking for top Indian IT companies.

• Zepto, a 10-minute delivery app, raises $665M at a $3.6B valuation.

• Uber Green electric cabs launched in Kolkata.

• Pocket FM partners with ElevenLabs to launch AI Audio Series.

• Amazon expands grocery service to over 130 cities as competition increases.

• Cafes are having a field day this summer.

🍿 Entertainment, Entertainment, Entertainment

• T20 World Cup:

  • England beat the West Indies by 8 wickets.

  • India beat Afghanistan by 47 runs.

  • Australia beat Bangladesh by 28 runs.

  • South Africa beat England by 7 runs.

  • West Indies beat the USA by 9 wickets.

  • India beat Bangladesh by 50 runs.

  • Afghanistan beat Australia by 21 runs.

  • England beat the USA by 10 wickets.

• Euros 2024:

  • Slovenia tied with Serbia 1-1.

  • Denmark tied with England 1-1.

  • Spain beat Italy 1-0.

  • Ukraine beat Slovakia 2-1.

  • Austria beat Poland 3-1.

  • The Netherlands tied with France 0-0.

  • Georgia tied with Czech Republic 1-1.

  • Portugal beat Turkey 3-0.

  • Belgium beat Romania 2-0.

• India Women beat South Africa Women by 6 wickets, and take the ODI series 3-0.