📈 India pushes back on U.S. tariff penalty

PLUS: Indian biotech is on the rise

Author

Ruchirr Sharma
August 28, 2025

 

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

Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

MARKETS

🇮🇳 India

indicates per gram rate in Delhi | Stock data as of market close 26/08/2025

  • The Indian markets were closed on the occasion of Ganesh Chaturthi 🙏 

🌍️ International

Stock data as of market close 27/08/2025

  • US stocks rebounded. Tech and pharma stocks, led by Nvidia and Eli Lilly, powered the advance. Investors looked past political drama at the Fed, focusing instead on potential September rate cuts and key earnings reports.

TARIFF

The U.S. just slapped a 25% tariff on Indian goods - a penalty for New Delhi’s continued imports of discounted Russian oil. But India isn’t taking it lying down. According to government sources, New Delhi is hopeful Washington will reconsider the move, even as it scrambles to shield exporters from the fallout.

Here’s the backdrop:

  • After Russia’s invasion of Ukraine, Western nations cut energy ties, but India (alongside China) kept buying Russian crude at bargain prices.

  • That strategy saved India billions on energy bills and kept inflation in check at home - but it irked Washington. The tariff is the latest sign of how U.S. patience is wearing thin.

What’s different now:

  • Until recently, India had managed a delicate balancing act - deepening its U.S. partnership (think Quad, defense deals, and tech ties) while quietly doubling down on Russian energy.

  • The tariff is a signal that Washington may be less willing to tolerate this hedging.

At home, the Indian government is already holding talks with exporters of textiles, leather, gems, and jewelry—sectors most exposed to U.S. demand—and may roll out financial assistance to cushion the blow.

The broader implication: This is about more than oil or tariffs. It’s about how long India can straddle both sides in a fractured world order.

Cheap Russian crude has fueled India’s growth story, but if it starts costing market access in the U.S., the trade-offs will get sharper. For now, New Delhi is betting Washington won’t risk pushing its fastest-growing partner too hard.

SPACE

India’s space program isn’t just about rockets anymore—it’s quietly seeding homegrown innovation across industries. On Wednesday, IN-SPACe (Indian National Space Promotion and Authorization Centre) announced the transfer of five ISRO-developed technologies to Indian companies, a move aimed squarely at cutting import dependence and boosting self-reliance.

Until now, many of these niche but critical technologies - like solar panel adhesives and biomedical chip modules - were sourced from abroad. That meant higher costs, longer lead times, and reliance on global supply chains. The new shift: Indian firms will now have direct access to ISRO’s R&D, opening the door to local production and commercialization.

Take Pune-based Voltix Semicon, which acquired ISRO’s ceramic chip module tech for RT-PCR kits. Or Crest Speciality Resins, which will use ISRO’s silicone adhesive for solar panels—no more waiting on imports. Other firms snapped up technologies ranging from aerospace-grade film adhesives to advanced converters and metal anodization techniques.

The broader impact?

  • This isn’t just about replacing imports—it’s about unlocking ISRO-grade tech for non-space applications like healthcare, automotive, and renewable energy.

  • Think of it as India’s “spin-off economy,” where innovations built for satellites and rockets find their way into everyday industries.

With this round, IN-SPACe has now executed 98 technology transfer agreements. It’s a sign that India’s space ecosystem is no longer confined to launches and lunar missions—it’s becoming a driver of industrial competitiveness and tech sovereignty.

In short: ISRO isn’t just reaching for the stars—it’s helping Indian industry stand taller on Earth.

GENERAL OVERVIEW

🗞️ Bite-sized summaries

📚️ Training in Kota - A new analysis by IIT-Kanpur highlights the dominance of Kota in IIT admissions. The report shows that every fourth student admitted to an IIT this year came from Kota’s coaching institutes. The Delhi zone, heavily boosted by Kota aspirants, achieved both the highest qualification rate in JEE-Advanced and the best admission conversion rate. Out of the 1.87 lakh students who registered, Delhi zone had 11,370 qualify and 4,182 secure IIT seats—36.8% of qualifiers, the strongest ratio among zones. Strikingly, half of the top 100 rankers also hailed from Kota, reinforcing its reputation as India’s biggest IIT pipeline.

🧪 Indian biotech is on the rise - India’s biotech sector is on a steep growth curve, with the country’s bioeconomy projected to hit $300 billion by 2030, according to Union Minister Jitendra Singh. From just $10 billion in 2014, it expanded to $80 billion by 2022 and $130 billion in 2024, powered by a surge in start-ups—from 50 a decade ago to over 11,000 today. The BioE3 Policy, launched in 2024, is driving this momentum by fostering high-performance biomanufacturing across food, energy, and health. Singh also announced the National Biofoundry Network to scale indigenous bio-based products, reflecting India’s ambition to lead a sustainable, biotech-driven industrial revolution.

HEADLINES

🧑‍🍳 What else is cookin’?

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

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That’s all for today folks - have a lovely day and we’ll see you tomorrow.