Morning Brief: China Lifts Urea Export Ban — Except For India; Dalal Street Hits Nine-Month High; Amit Shah Outsmarts The ‘Hindi Imposition’ Chorus; And More

Kick-start your morning with Swarajya’s Morning Brief – your news fix, curated for clarity and insight.

China Lifts Urea Export Ban — Except For India: Report

China has begun easing its urea export restrictions to help stabilise global prices amid West Asia tensions. However, The Times of India has reported that export restrictions on India will continue, citing experts who say that Beijing has made a deliberate choice to exclude India from the relaxation, even as it opens up limited shipments to other countries under quotas and price controls.

Beijing initially imposed the ban in June 2023 to lower domestic prices and support food security. With local prices now stable and at multi-year lows in provinces like Shandong, authorities are allowing limited exports, about 2 million tonnes for now, to balance domestic affordability with producer profitability. India, however, remains excluded from this relaxation, with no official comment yet from China.

Dalal Street Hits Nine-Month High

India’s benchmark indices surged to their highest levels in nine months on Thursday (26 June), with the Sensex rising 1,000 points and the Nifty gaining 1.2 per cent. The rally was driven by easing geopolitical tensions in West Asia following the announcement of a ceasefire between Israel and Iran, among other developments.

Banking stocks led the charge, with the Bank Nifty hitting a record high, while a weaker dollar index and falling crude prices further lifted sentiment. The market’s fear gauge, India VIX, dropped 2.9 per cent to 12.6, its lowest in a month, signalling reduced near-term risk perception. Foreign investors net bought Rs 12,594 crore worth of shares.

Amit Shah Outsmarts The ‘Hindi Imposition’ Chorus

Union Home Minister Amit Shah on Thursday (27 June) flipped the script on the usual language warriors like MK Stalin and Siddaramaiah, who routinely cry "Hindi imposition" while doing little to promote their own state languages. "No state can ever become great by neglecting its mother tongue," Shah said at an event, calling for governance and professional education to be conducted in local languages.

Shah said Indian languages should be tools of unity, not division. It was a clear dig at decades of political posturing where regional pride often meant opposing Hindi rather than strengthening one's own language. "Hindi is a friend of all Indian languages," he added, asserting that Indian languages are gaining momentum in technology, administration, and national exams.

Other Developments

PSU Stocks Add Rs 57 Lakh Crore In Market Cap Over Five Years

Once seen as laggards, listed public sector undertakings (PSUs) have added Rs 57 lakh crore in market capitalisation between March 2020 and June 2025, rising from Rs 12 lakh crore to Rs 69 lakh crore. This sharp recovery follows a decade of stagnation (FY09–20) and has been driven by structural reforms across sectors.

PSU earnings grew at a 36 per cent CAGR over five years, outpacing private peers, while their share in overall market cap rebounded from 10 per cent in FY22 to 15.3 per cent last fiscal. The drag from loss-making PSUs has significantly diminished, with such firms now forming just 1 per cent of the profit pool, down from 45 per cent in FY18.

Trump Hints At 'Very Big' Trade Deal With India

US President Donald Trump has hinted at a “very big trade deal” with India, following the deal with China. With the 90-day suspension of US tariffs on Indian goods set to expire on 9 July, negotiations between Washington and New Delhi are intensifying.

US officials have pushed for increased exports to India to reduce the trade deficit, while Indian negotiators are exploring more oil and defence imports from the US as part of a broader strategy to diversify procurement sources.

US, China Reach Deal To Expedite Rare Earth Shipments

The United States and China have reached an agreement to accelerate rare earth mineral shipments to the US, the White House has said, as both sides work to ease ongoing trade tensions. The announcement follows President Donald Trump's statement that Washington had signed a deal with China on Wednesday (25 June).

During trade talks held in Geneva this May, China had agreed to remove non-tariff countermeasures imposed since April, though details on the rollback remain unclear. Beijing’s earlier restrictions on critical mineral exports, imposed in retaliation to US tariffs, had disrupted global supply chains across sectors.

From The States

PM Modi To Hold Nine Rallies In Bihar By September

Prime Minister Narendra Modi will spearhead the BJP’s campaign for the upcoming Bihar assembly elections, addressing nine rallies across the state over the next two and a half months. He has already held two rallies in Rohtas and Saran, with seven more planned — one in each of Bihar’s remaining divisions — covering over 200 assembly constituencies.

The campaign will wrap up by September, just ahead of the election schedule. Union Home Minister Amit Shah is also expected to make multiple visits during the campaign.

MNS, Uddhav Sena To Rally Against Hindi

The Maharashtra government’s push to introduce Hindi as the third language in primary schools has sparked political resistance, with both Raj Thackeray’s MNS and Uddhav Thackeray’s Sena announcing state-wide protests. Despite a meeting with Education Minister Dada Bhuse, Raj Thackeray refused to reconsider his opposition, declaring a morcha on 5 July from Girgaum Chowpatty to Azad Maidan and inviting support from Marathi-speaking parents, students, and writers.

Uddhav Thackeray also rejected the proposal and announced a separate protest march on 7 July. Interestingly, the two parties have not chosen to protest together — a sign that merger talks may not have materialised in any form.

Mamata Set To Flag Off Digha Rath Yatra Today

West Bengal Chief Minister Mamata Banerjee is set to flag off the Rath Yatra in Digha on Friday (27 June), marking the first such event in the coastal town since the inauguration of the new Jagannath Dham Temple. The state government has made preparations, including the distribution of Lord Jagannath’s prasad across Bengal, and Banerjee has personally contributed offerings such as mangoes and guavas from her residence.

Three chariots are ready for the procession, with large crowds expected to gather. Security has been tightened, with senior officials and ISKCON representatives overseeing arrangements. The event comes ahead of the 2026 assembly elections and has drawn criticism from the BJP, which has accused the TMC of using it for political gain.

You’re all caught up—until next time.