Morning Brief: India Destroyed 20 Per Cent Pakistan Air Force's Infra, Multiple F-16s, JF-17s; Defense Stocks Surge After Success Of Indian Weapons; Retail Inflation At Six-Year Low

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India Destroyed 20 Per Cent PAF's Infra, Multiple F-16s, JF-17s: Report

India carried out precision strikes on over a dozen Pakistani military bases, destroying nearly 20 per cent of the Pakistan Air Force’s infrastructure, including multiple F-16 and JF-17 fighter jets, a report in the Indian Express says. Key air bases such as Sargodha, Bholari, Nur Khan, Rafiqui, and Jacobabad were hit, with over 50 personnel, including Squadron Leader Usman Yusuf, killed at Bholari alone.

Along the Line of Control, India destroyed terrorist bunkers and Pakistani Army positions, reportedly killing 35–40 soldiers. Satellite imagery and released visuals confirmed significant damage, especially at the Shahbaz air base in Jacobabad. Lt General D S Rana briefed foreign attaches on the operation’s success, highlighting India’s precise targeting, technological superiority, and its efforts to counter Pakistan’s misinformation.

Defense Stocks Surge After Success Of 'Made In India' Weapons

Shares of defence companies surged on 13 May after Prime Minister Narendra Modi highlighted the success of 'Made in India' equipment, with the Nifty India Defence index rising nearly 4 per cent, Money Control has reported. In his address on May 12, Modi highlighted India's military capabilities, particularly the Akash air defense system.

Bharat Dynamics (BDL) saw the largest gain, jumping nearly 11.5 per cent following Modi’s comments, as it manufactures the Akash missile system. Other defense stocks, including Bharat Electronics, Hindustan Aeronautics, and Mazagon Dock Shipbuilders, also saw significant gains. India’s defence exports hit a record Rs 23,622 crore in FY25, and Defence Minister Rajnath Singh has set a target of Rs 50,000 crore by 2029.

Retail Inflation Drops To Six-Year Low

Retail inflation in April eased to a six-year low of 3.16 per cent, down from 3.34 per cent in March, mainly due to a drop in food prices, according to government data. Food inflation fell to 1.78 per cent, the lowest since October 2021, with notable declines in the prices of vegetables, pulses, fruits, meat, and cereals.

Rural inflation dropped more sharply to 2.92 per cent, while urban inflation also declined to 3.36 per cent. Experts expect inflation to stay around 3 per cent in the coming months but caution that heatwaves and rainfall patterns could impact agricultural output and food prices. Barclays forecasts CPI inflation near 3 per cent in May and predicts a rate cut in June, given the lower-than-expected figures.

Other Developments

MEA Reveals Timeline Behind India-Pakistan Ceasefire

The Ministry of External Affairs (MEA) revealed the timeline behind the ceasefire understanding between India and Pakistan, noting that the Pakistani DGMO faced technical issues in contacting his Indian counterpart directly.

As a result, the request was routed through the Pakistan High Commission in New Delhi at 12:37 PM and then conveyed to the MEA, which passed it on to India’s armed forces. The ceasefire time was agreed upon by both DGMOs at 3:35 PM, following a mutually set time based on the availability of the Indian DGMO.

Indian companies exploring partnerships with Chinese firms are facing tighter regulations due to China's support for Pakistan during recent hostilities, with some deals, including Haier’s stake sale in India, being delayed or reevaluated. The tightening of the regulatory process follows India's 2020 decision to implement Press Note 3, which requires multi-department approvals for investments from neighbouring countries.

Chinese companies are struggling to gain approvals, forcing them to sell stakes or enter joint ventures with Indian firms, particularly in sectors like electronics. Despite the challenges, Indian manufacturers still seek Chinese technology for cost-effective solutions, though they are now exploring solo ventures.

The recent political tensions, including China's continued support for Pakistan, are expected to further hinder Press Note 3 approvals, jeopardising investment plans under India’s production-linked incentive scheme.

Trump Again Claims Role In India-Pakistan Ceasefire

US President Donald Trump has yet again claimed he brokered the recent India-Pakistan ceasefire during a speech in Riyadh on 13 May, citing trade as a tool to prevent nuclear conflict between the two countries. Trump praised his administration’s efforts, saying his use of trade instead of nuclear missiles to resolve tensions.

India, however, rejected Trump’s claim, with the Ministry of External Affairs stating the ceasefire was the result of talks between the Indian and Pakistani military officials. Meanwhile, Prime Minister Modi rejected the idea of talks with Pakistan and reinforced the Indian position that New Delhi will only engage in talks with Rawalpindi if they were focused on terrorism and the return of Pakistan-occupied Kashmir.

From The States

Omar Abdullah Says Kashmiris Killed In Pakistani Shelling Overlooked

Jammu and Kashmir Chief Minister Omar Abdullah criticised the national media and political response for showing "selective outrage" after the recent terror attack in Pahalgam, where 26 tourists were killed, while largely ignoring the deaths of Kashmiris in Pakistani cross-border shelling.

In an interview with India Today, he expressed disappointment over the lack of attention given to civilian and military casualties in regions like Rajouri, Poonch, Uri, and Baramulla, affecting all communities. Abdullah said that the national response to these deaths has been limited to "lip service" and that many tragic stories, such as the deaths of 12-year-old twins in Poonch and other civilians, are being overlooked.

Uddhav-Raj Reconciliation Buzz As Shinde Sena Explores MNS Alliance

Uddhav and Raj Thackeray have signalled a potential reconciliation, sparking speculation about a possible alliance. At the same time, Maharashtra Minister Uday Samant, from the Eknath Shinde-led Shiv Sena, met Raj Thackeray, adding to the growing rumors of a partnership between the Shinde-led Shiv Sena and MNS ahead of the upcoming BMC elections.

This development follows earlier discussions between the two cousins, who expressed a willingness to set aside past differences for the greater good of Maharashtra. However, Uddhav has insisted that Raj must not align with the BJP or the Shinde faction for any potential collaboration.