India has overtaken China as the top smartphone exporter to the US, accounting for 44% of shipments in Q2 2025, up from 13% a year ago. This shift is driven by Apple’s accelerated “China Plus One” strategy, scaling iPhone production in India amid US-China tariff tensions. China’s share dropped from 61% to 25%. Apple now assembles iPhone 16 Pro models in India, with plans to double output to 80 million units. Samsung and Motorola also increased India-based exports, though at a slower pace. Despite the supply chain shift, US smartphone demand grew just 1%. Apple’s exports from India hit $5 billion in Q1 FY26, reinforcing India’s rise as a global tech manufacturing hub. (PC: Digital Trends & Wired)

At the AI Summit in Washington, President Donald Trump urged U.S. tech firms to halt hiring Indian workers and building factories in China, declaring “those days are over.” He criticized the industry’s “radical globalism” and called for renewed patriotism and national loyalty. Trump signed three executive orders to promote American-made AI, accelerate data center infrastructure, and eliminate “woke” AI in federal systems. He emphasized that America started the AI race and must win it, urging companies to “put America first.” The move signals a shift toward tech nationalism, potentially impacting Indian professionals and outsourcing firms that rely on U.S. contracts and talent pipelines.

India and the UK have signed a landmark Free Trade Agreement (FTA) aiming to boost bilateral trade by over £25 billion annually by 2040. Under the deal, tariffs on Scotch whisky and British gin in India will be reduced from 150% to 75% immediately, with further cuts to 30–40% over 10 years. UK car import duties drop from over 100% to 10% under quotas. Meanwhile, 99% of Indian exports—including textiles, gems, and pharmaceuticals—will enter the UK duty-free. The agreement also eases visa rules for Indian professionals and opens up UK government procurement markets to Indian firms. (PC: HT Print)

India and the UK are set to finalize a landmark Free Trade Agreement during PM Modi’s July 24 visit to London. The deal will eliminate tariffs on ~99% of Indian exports to the UK—including textiles, leather, gems, marine products, auto parts, and organic chemicals—and phase out duties on 90% of UK goods imported into India, with 64% cut immediately . Key sector wins include zero‑duty access for labour‑intensive industries and improved services mobility. Scotch whisky and cars see staged tariff cuts, while provisions include enhanced market access, professional visa movement, and streamlined procurement . The pact aims to double bilateral trade to $120 bn by 2030, pending legislative ratification in both nations. (PC: ANI)

Iron ore and steel prices soared to four-month highs after China began constructing the world’s largest hydropower dam on the Yarlung Tsangpo River in Tibet. The $170 billion project, launched by Premier Li Qiang, is expected to boost demand for steel, cement, and glass. India raised concerns over potential downstream impacts, while Arunachal Pradesh CM Pema Khandu warned of a “ticking water bomb.” NGOs fear irreversible ecological damage. The dam aims to generate 300 billion kilowatt-hours annually and support China’s carbon neutrality goals. China’s Iron and Steel Association is also working to curb industry overcapacity and hyper-competition, further influencing market dynamics. (PC: NDTV & Telegraph India)

Astronomer CEO Andy Byron resigned following a viral “kiss cam” moment at a Coldplay concert with Chief People Officer Kristin Cabot. Captured on the jumbotron during “The Jumbotron Song,” the pair embraced before awkwardly ducking away, prompting Coldplay’s Chris Martin to quip, “Either they’re having an affair or they’re just very shy.” The clip sparked social media frenzy, leading to Byron’s resignation, accepted by the board. Pete DeJoy was named interim CEO. The company reaffirmed its commitment to conduct and accountability, launching an internal investigation. Byron’s LinkedIn was deleted, and Cabot’s marital status remains unclear. The scandal, dubbed “ColdplayGate,” has ignited memes and revived past allegations of toxic leadership.

A viral “kiss cam” moment at Coldplay’s Boston concert featuring Astronomer CEO Andy Byron and Chief People Officer Kristin Cabot sparked a wave of witty brand campaigns. As Chris Martin joked about the duo “having an affair,” Byron ducked and Cabot hid her face, igniting meme culture. IKEA, Frido, Tesla, GlobeAir, and Ryanair capitalized on the moment with humorous ads, from cuddle pillows to spontaneous getaways. Despite speculation, Astronomer confirmed neither executive was dismissed, though a formal investigation is underway. The incident, dubbed “ColdplayGate,” became a marketing goldmine, blending corporate opportunism with internet frenzy. (PC: The Times of India & NDTV)

U.S. President Donald Trump reiterated his threat to impose a 10% tariff on imports from BRICS nations, warning the group would "end very quickly" if it formed meaningfully. He accused BRICS of promoting "anti-American policies" and pledged to preserve the dollar’s global reserve status, rejecting any central bank digital currency in the U.S. The BRICS bloc, which expanded to include Iran and Indonesia, has denied being anti-American and is advancing BRICS Pay for local currency transactions. Brazil dropped plans for a common currency. Trump also announced a 50% tariff on Brazilian imports starting August and launched a probe into its trade practices. (PC: The Tribune & X)

Tesla officially launched its first showroom in India today at Maker Maxity Mall, Bandra Kurla Complex (BKC), Mumbai, marking its entry into the Indian market. Tesla’s Model Y starts at ₹60 lakh, with the long-range variant priced at ₹67.8 lakh. Maharashtra CM Devendra Fadnavis attended the opening and invited Tesla to consider the state for future R&D and manufacturing. India’s steep import duties make Tesla’s prices higher than in other countries. Despite this, Tesla aims to attract wealthy urban buyers. India’s EV market is growing, with a target of 30% EV sales by 2030, up from 4% now. (PC: HT)

Tesla officially entered the Indian market today with the launch of its first showroom at Maker Maxity Mall in Mumbai’s Bandra Kurla Complex. The Elon Musk-led EV giant unveiled the Model Y, priced at Rs 59.89 lakh (rear-wheel drive) and Rs 61 lakh on-road. Maharashtra CM Devendra Fadnavis welcomed Tesla, calling it a symbol of innovation and sustainability. While Tesla currently has no plans for manufacturing in India, the showroom marks its first physical presence. The move follows India’s new EV policy easing import duties. Tesla aims to test India’s fast-growing automobile market through showroom-based sales.