India has instructed IREL, the state-run miner, to pause a 13-year rare-earth export agreement with Japan, reallocating materials like neodymium for domestic industries to reduce dependence on China . In 2024, IREL supplied over 1,000 MT out of its 2,900 MT output to Japan—nearly one-third of its production . With China imposing export curbs since April, India plans to boost domestic mining and processing, targeting 450 MT of neodymium by fiscal 2026 and doubling output by 2030 . The government is also considering incentives for local rare-earth magnet facilities and negotiating diplomatically to amend the bilateral deal with Japan. (PC: Reuters)

Boeing’s share price plunged over 6.5% in pre-market trading following the crash of an Air India Boeing 787-8 Dreamliner near Ahmedabad on June 12. The tragedy, which claimed dozens of lives, also impacted Indian aviation stocks. IndiGo fell 3% to ₹5,465, while SpiceJet slipped 1.5% in afternoon trading. The aircraft was carrying 242 people, including 169 Indian and 53 British nationals. Air India has issued a passenger information hotline: 1800 5691 444. Market analysts expect further turbulence for aviation stocks as investigations into the cause of the crash continue. Government agencies remain on high alert. (PC: Money Control)

At Toyota’s annual shareholder meeting on June 12, Chairman Akio Toyoda is facing tough questions over a $33 billion proposal to take key supplier Toyota Industries private. Critics, including Zennor Asset Management and Oasis Management, contend the 16,300 yen/share offer undervalues minority investors, especially given Toyota Industries’ ¥1.5 trillion in assets. Toyota insists the deal benefits all stakeholders, and executives defended it over two hours, their longest AGM ever. The plan forms a new holding company funded by Toyota Motor, Toyota Fudosan, and Toyoda himself. Governance watchdogs remain skeptical: shareholder support for Toyoda dropped from 96% in 2022 to 72% in 2024. The meeting’s outcome could reshape perceptions of Toyota’s corporate governance credibility. (PC: Reuters)

President Trump announced on June 11, 2025, a landmark trade deal with China: Beijing will resume exports of critical rare earth minerals and magnets to the U.S., while American tariffs on Chinese goods will surge to 55%, compared to China's planned 10% on U.S. imports . In return, the U.S. will continue allowing Chinese students to enroll in its universities . The agreement builds upon a 90‑day tariff truce brokered in Geneva and is now pending final approval by Presidents Trump and Xi . Analysts caution that enforcement details, export‑control relaxations, and geopolitical guards remain to be negotiated in follow‑up talks. (PC: NDTV)

India’s trade pact with EFTA may begin in September, Union Minister Piyush Goyal said. EFTA includes Iceland, Liechtenstein, Norway, and Switzerland. The deal, signed in March 2024, will cut or remove import duties on items like Swiss watches and chocolates. India will also get $100 billion in investment over 15 years. All four countries have approved the deal. In Switzerland, the public can raise objections until July 10. Once active, India will get duty-free access for 99% of its goods, including rice. The aim is to boost trade and investment between India and the four European countries. (PC: PTI)

Elon Musk’s Starlink has secured a license from India’s Department of Telecommunications and is poised to begin operations within the next two months . The satellite-based internet kit will cost around ₹33,000, with unlimited data plans at ₹3,000 per month . Customers will benefit from a complimentary one-month trial with each device purchase . Initial bandwidth capacity is projected at 600–700 Gbps, targeting 30,000–50,000 users, with potential to scale up to 3 Tbps by 2027 . Positioned as a premium connectivity option aimed at remote and underserved regions of India, this satellite service complements existing telecom offerings from Airtel and Jio. (PC: Reuters)

India is cautious about curbing trade with Turkey despite pressure to ban imports like apples and marble. The country enjoys a substantial $2.73 billion trade surplus in goods, driven by strong industrial exports engineering goods, electronics, chemicals over the past five years. While some Himachal apple growers, alarmed by cheaper Turkish fruit, urged a ban, officials argue that restricting imports could backfire and hurt exporters. Instead, New Delhi has limited its actions to national-security-driven bans on select Turkish firms involved in critical infrastructure avoiding broader economic fallout. The government is weighing diplomatic signaling versus preserving the lucrative trade relationship. (PC: The Daily Jagran & ETV Bharat)

India bucked global trends after the World Bank raised the extreme poverty line from USD 2.15 to USD 3.00 per day (2021 PPP), which added approximately 125 million to the global poverty count. However, thanks to refined consumption data—via the new Household Consumption Expenditure Survey using the Modified Mixed Recall Period—India offset this entire increase, reducing its extreme poverty headcount by around 125 million . Its extreme poverty rate dropped dramatically from 27.1% (344 million) in 2011–12 to just 5.3% (75 million) in 2022–23 . Rural and urban gaps narrowed, and consumption inequality eased—marking a significant socio-economic achievement amid tougher global benchmarking. (PC: ANI)  

Elon Musk’s Starlink has received a Global Mobile Personal Communication by Satellite (GMPCS) license from India’s Department of Telecommunications, allowing it to provide satellite-based internet services in the country. This makes Starlink the third satellite internet provider in India, alongside Reliance Jio and Eutelsat-OneWeb. The move follows Musk’s February 2025 meeting with PM Modi and Starlink’s partnerships with telecom giants Reliance Jio and Bharti Airtel. Aimed at expanding connectivity in rural areas, Starlink still requires approvals from India's space regulator and spectrum licenses. India's satellite internet market is projected to hit $1.9 billion by 2030. (PC: ANI)    

Elon Musk's Starlink has obtained a crucial license from India's Department of Telecommunications, enabling it to offer satellite-based internet services across the country. This approval positions Starlink as the third operator in India's satellite internet sector, following Reliance Jio and Bharti's OneWeb. The license comes after prolonged regulatory delays since 2022, primarily due to national security concerns. Starlink's entry is expected to enhance internet connectivity in remote and underserved regions, aligning with India's digital inclusion goals. The development also intensifies competition in the satellite internet market, potentially reshaping the country's broadband landscape. (PC: Bloomberg)