💰️ India’s metal play

Good morning. Hope you had a great weekend. Let’s get after it relentlessly.

- Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

• 💾 Food Delivery to Deep Tech

• 💰️ India’s metal play

• 🗞️ Bite-sized summaries

  • 🧸 Indian toys

  • 📈 Tariff isn’t affecting India too much

• 🧑‍🍳 What else is cookin’?

• 🍿 Entertainment, Entertainment, Entertainment

ENTREPRENEURSHIP

💾 Food Delivery to Deep Tech

India’s startup scene is booming—but is it dreaming big enough?

At Startup Mahakumbh, Commerce Minister Piyush Goyal threw down the gauntlet, urging founders to shift gears from “jugaad” to “breakthrough.”

His message? It’s time to evolve from delivery apps and fantasy leagues to deep-tech frontiers like AI, robotics, and quantum computing.

While some startup founders pushed back, boAt co-founder and Shark Tank India judge Aman Gupta stood firmly with Goyal. In a candid post on X, Gupta said, “It’s not every day the government asks us to aim higher.” He acknowledged the tough love but embraced the challenge, calling for India to compete with innovation giants like China and the US—not just in scale, but in depth.

So, what does this mean for India?

• Currently, less than 1% of India’s 1.57 lakh registered startups are working in deep tech—a stat Goyal called “disturbing” for a nation aiming to become developed by 2047. That gap presents a massive opportunity.

• India already has the world’s third-largest startup ecosystem and is the fastest-growing major economy.

• But to truly lead, it must build what Gupta calls “innovation stacks” that can match global standards—think homegrown LLMs, next-gen manufacturing, and green mobility solutions.

Overall: This shift won’t be easy. It calls for more scientific risk-taking, patient capital, and tighter collaboration between founders and policymakers. But the rewards? A more resilient, future-ready economy with fewer delivery jobs—and more deep-tech exports.

Read more: Economic Times

MARKETS

💰️ India’s metal play

While Trump’s tariffs send shockwaves through global trade routes, India’s metal giants are doubling down—not abroad, but at home.

Unlike export-heavy players hit hard by rising levies, Indian metal majors like Vedanta, Hindustan Zinc, JSW Steel, and NALCO are leaning into domestic demand and using it as a launchpad for expansion. The shift isn’t just defensive—it’s strategic.

Here’s why:

🔩 Strong Domestic Tailwinds: Steel demand in India is expected to grow 10% annually, while aluminium is projected to clock a 7.2% CAGR through 2030. Driving this? The government’s ₹11.2 lakh crore infrastructure push, an electric vehicle surge, and booming sectors like defense and railways.

🏗️ Big Bets on Capacity: Vedanta is ramping up aluminium production to 3 million tonnes and boosting value-added products from 60% to 90%—a clear pivot toward higher margins. Its BALCO smelter is nearly ready, and a major bauxite mine acquisition ensures raw material security.

• Hindustan Zinc plans to double its metal output to 2 million tonnes in five years and recently set up a zinc alloy plant to ride the domestic construction boom.

• JSW Steel is committing ₹45,000 crore to capacity and energy expansion. Tata Steel is adding muscle to three plants—Kalinganagar, Neelachal, and Bhushan.

💡 Tariff-Proof Strategy: As the US slaps tariffs on global metals, India’s inward focus acts as insulation. Experts say stocks of companies with strong local roots—like Vedanta and Hindustan Zinc—are likely to outperform as global competition wanes and demand shifts homeward.

Overall: While others dodge tariffs, India’s metal industry is building something bigger: self-reliance with scale. The result could be a more resilient sector that not only weathers global storms—but forges ahead because of them.

Read more: Economic Times

GENERAL OVERVIEW

🗞️ Bite-sized summaries

🧸 Indian toys - India’s toy industry is set to benefit from high US tariffs on competitors like China, Vietnam, and Bangladesh. While India faces a 26% import duty in the US, others face steeper rates—up to 54% for China. Indian toy makers are expanding capacity, forming global partnerships, and supported by state policies and the National Action Plan for Toys. A potential US-India trade deal could further boost exports. India has reduced its dependence on Chinese imports significantly, showing growing competitiveness. Domestic production is rising, backed by quality standards and customs duty hikes, positioning India as a strong player in the global toy market.

📈 Tariff isn’t affecting India too much - NSE CEO Ashish Kumar Chauhan said India is performing better than many countries despite global uncertainty caused by new US reciprocal tariffs. Speaking after visiting the Mata Vaishno Devi Shrine, he expressed optimism that the current confusion will clear up within a week or two, as global negotiations lead to a more stable duty structure. While the US has imposed new import duties on all nations, India’s markets have shown resilience. Chauhan noted that although some companies may face losses, India’s economic position remains stronger compared to others. However, Sensex and Nifty fell over 2.5% last week due to global concerns.

HEADLINES

🧑‍🍳 What else is cookin’?

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

• Apple shipped five plane-loads of iPhones and other products in three days to beat US tariff deadline.

• Israeli strikes on Gaza kill 24, mostly women, children.

• Vietnam considers 10-year ‘golden visa’ to stay ahead in Southeast Asia’s tourism race.

• What to expect in South Korea now that Yoon has been removed from office.

CULTURE

🍿 Entertainment, Entertainment, Entertainment

• Sikandar box office collection day 8: Salman Khan, Rashmika Mandanna-starrer finally crosses ₹100 cr in India.

• IPL news:

  • Gujarat Titans beat Sun Risers Hyderabad by 7 wickets.

  • Rajasthan Royals beat Punjab Kings by 50 runs.

  • Delhi Capitals beat Chennai Super Kings by 25 runs.

  • Lucknow Super Giants beat Mumbai Indians by 12 runs.