🪷 India needs partners, not preachers

Good morning. HAPPY MET GALA MONDAY! We are very excited to see the looks for this year’s theme: Superfine: Tailoring Black Style 🤵 

p.s.round up on all the looks will most definitely be covered in tomorrow’s NL so don’t forget to subscribe if you haven’t already.

Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

• 🪷 India needs partners, not preachers

• 🤖 India’s AI Talent driving global digital shift

• 🗞️ Bite-sized summaries

  • 🫡 End of an era

  • 🧑‍🚀 NASA sees budget slashed

• 🧑‍🍳 What else is cookin’?

• 🍿 Entertainment, Entertainment, Entertainment

MARKETS

🇮🇳 India

• Indian equities ended higher after a volatile session. Gains in oil & gas and IT stocks offset declines in metals and consumer durables, while global optimism and easing trade tensions supported sentiment.

🌍️ International

• US stocks rallied for a ninth straight session, marking the S&P 500’s longest winning streak since 2004 and erasing losses from April’s tariff-driven selloff. The surge was fueled by a stronger-than-expected jobs report and optimism about renewed US-China trade talks, with travel and tech stocks leading gains.

GEOPOLITICS

🪷 India needs partners, not preachers

In a sharp and candid critique of the European Union, India's External Affairs Minister S. Jaishankar reiterated a message he's voiced before: India seeks global partners, not moralising preachers.

Speaking about New Delhi’s evolving expectations from the EU, Jaishankar pointed out that Europe is undergoing a "reality check" and must reflect on its often contradictory global stance.

• He stressed that while India welcomes collaboration, it rejects lectures—especially from those who fail to practice at home what they advocate abroad.

• Some parts of Europe, he noted, still struggle with this inconsistency, though change is beginning to take root.

This isn’t Jaishankar’s first public disagreement with European posturing, though:

• In 2022, he firmly rejected the notion that India’s non-alignment on the Ukraine conflict could affect global support in its own regional challenges, particularly with China.

• He argued that India is fully capable of managing its complex relationship with China independently, without transactional expectations tied to unrelated conflicts.

He also challenged Europe’s worldview, pointing out its tendency to universalise its own issues while disregarding those of others—a mindset he believes needs to evolve.

Overall: Jaishankar’s recent comments come at a time of heightened India-Pakistan tensions, following a terrorist attack in Jammu and Kashmir that killed 26 civilians.

The EU's response, urging both nations to de-escalate, stood in stark contrast to its robust backing of Ukraine against Russia - highlighting what many in India see as a double standard in Europe’s foreign policy.

Read more: Times of India

ARTIFICIAL INTELLIGENCE

🤖 India’s AI Talent is driving global digital shift

India’s rapidly growing AI ecosystem is not only transforming its own economy but also positioning the country as a global tech powerhouse. At the 14th India Internet Day hosted by TiE Delhi-NCR, industry leaders like Ankur Warikoo and Vijay Shekhar Sharma praised India’s AI talent and its potential to benefit the world.

Ankur Warikoo highlighted that India’s openness - unlike countries such as China that retain talent domestically - is helping the global tech ecosystem flourish.

• He pointed out how students are proactively exploring AI and building on their own, which will ultimately feed back into the economy.

• For Warikoo, technology is key to solving India’s low productivity challenge, stressing the need to deploy tech instead of relying solely on human effort.

Vijay Shekhar Sharma, CEO of Paytm, added that we are in the midst of an internet revolution driven by AI. He noted a paradigm shift: while today we use AI as a tool, the future may see us working as agents for AI, underlining the profound changes ahead.

India’s digital economy is currently growing at nearly twice the pace of its GDP and is projected to contribute 20% to GDP by 2029. This momentum is being supported by strong policy measures such as the ₹10,300 crore IndiaAI Mission and the setup of AI Centres of Excellence. These initiatives are central to the vision of Viksit Bharat 2047, aimed at making India self-reliant and globally competitive in emerging tech.

Overall: Despite concerns over job displacement, industry experts like Mohit Joshi of Havas Media Network India argue that AI will lead to job transformation rather than loss, with reskilling becoming essential.

Read more: Economic Times

GENERAL OVERVIEW

🗞️ Bite-sized summaries

🫡 End of an era - Warren Buffett announced he will ask Berkshire Hathaway’s board to appoint Greg Abel as CEO by year-end, marking the end of an era. At 94, Buffett said the time is right for Abel, long designated as his successor, to take over. Abel, 62, has led Berkshire’s non-insurance businesses and will retain Buffett’s value investing approach. Buffett, who transformed Berkshire from a textile mill into a $1.2 trillion conglomerate, said he’ll remain available for guidance but leave decision-making to Abel. Despite stepping back, Buffett will keep all his shares, confident the company will thrive under Abel’s leadership. Shareholders gave Buffett a standing ovation.

🧑‍🚀 NASA sees budget slashed - The Trump administration has proposed cutting NASA’s budget by $6 billion, roughly 25%, while redirecting $1 billion toward Mars-focused initiatives, aligning with Elon Musk's long-standing ambitions. The new plan prioritizes returning to the Moon before China and landing humans on Mars. NASA Acting Administrator Janet Petro acknowledged the challenges ahead, urging staff to stay resilient amid layoffs and project terminations. The plan retires key programs like the SLS rocket, Orion spacecraft, and Mars Sample Return mission, while ending green aviation efforts. SpaceX, already a major NASA partner, stands to benefit. Trump’s nominee to lead NASA, Jared Isaacman, awaits Senate confirmation.

HEADLINES

🧑‍🍳 What else is cookin’?

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

• Trump takes credit for ‘good parts’ of economy, blames ‘bad parts’ on Biden.

• Netflix executive says getting publicly fired was ‘the greatest learning lesson’: ‘I am so grateful that it happened.’

• Jeff Bezos discloses plan to sell up to $4.8 billion in Amazon stock.

• Uber inks robotaxi deal with Momenta to launch service in Europe next year.

• French police investigate spate of cryptocurrency millionaire kidnappings.

CULTURE

🍿 Entertainment, Entertainment, Entertainment

• Babil Khan's family issues statement after actor calls Bollywood "Fake And Rude".

• 2.1 million fans attend Lady Gaga concert in Rio de Janeiro 🤩 

• IPL 2025: 

  • GT beat SRH by 38 runs;

  • RCB beat CSK by 2 runs;

  • KKR beat RR by 1 run;

  • PBKS beat LSG by 37 runs.
    Leaderboard here.