News Brief
Swarajya Staff
Jul 04, 2025, 08:26 AM | Updated 08:26 AM IST
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India Sends Arunachal-Sized Message To China On Dalai Lama Succession
In a pointed assertion that carries deep geopolitical undertones, Union minister Kiren Rijiju on Thursday ( 3 July) said that only the Dalai Lama himself and the spiritual conventions he upholds can decide his successor, not any external authority. The remarks come just days ahead of the Tibetan spiritual leader’s 90th birthday and directly counter China’s claim that the reincarnation must be approved by the Chinese Communist Party..
What makes Rijiju’s statement even more significant is his identity and origin. A Buddhist from Arunachal Pradesh, a border state claimed in its entirety by China, Rijiju hails from a region central to the reincarnation issue. Tawang, in Arunachal, is not only geopolitically sensitive but is also home to the Tawang Monastery, the most influential Tibetan Buddhist institution outside Lhasa and a potential birthplace of the next Dalai Lama.
By putting Rijiju, and not just any minister, at the forefront of India’s response, New Delhi has sent one of its clearest signal on the issue yet.
India’s Services Activity Hits 10-Month High In June
India’s services sector surged to a 10-month high in June, with the HSBC Services PMI climbing to 60.4 from 58.8 in May, driven by rising domestic orders and steady growth in international sales. Firms reported strong demand, particularly in finance and insurance, while real estate and business services saw the slowest expansion.
June also marked the fastest growth in new orders since August 2024, with international demand improving from Asia, the Middle East, and the US. While input cost inflation fell to a 10-month low, service providers retained pricing power, especially in consumer services. Hiring remained strong, with June marking the 37th consecutive month of employment growth.
Startups Lead IPO Rush As Markets Surge
With the Sensex and Nifty up 13 per cent since April and global tensions easing, India’s IPO market is witnessing a strong revival, led by startups. Meesho filed its draft IPO papers on Thursday to raise Rs 4,250 crore, joining a growing list that includes Pine Labs, Shadowfax, and Wakefit.
Analysts expect July’s primary market fundraising to reach $2.4 billion, nearly matching December 2024’s record. Over 120 companies filed draft papers in the first half of 2025, more than double last year’s tally. Big-ticket listings from LG Electronics India, NSDL, and JSW Cement are also in the pipeline. While investor appetite is strong, experts caution against frothy valuations in the rush to list.
Other Developments
India To Match China’s Electronics Value-Addition In 5 Years
India is building its electronics manufacturing ecosystem in a “methodical and sustained” manner and aims to hit 38 per cent value addition within five years, matching China’s current level, said Union Minister Ashwini Vaishnaw at an ET Roundtable. He downplayed concerns over Chinese dependence after reports that Apple supplier Foxconn had repatriated over 300 Chinese engineers from its Indian factories, citing support from Taiwanese, American, Korean partners, and local talent.
The Foxconn pullout, reportedly driven by Beijing’s curbs on talent outflow, could disrupt training and operations, but Vaishnaw said India is confident it can sustain 20%+ growth in a $145 billion sector. He cited ongoing efforts like the Rs 76,000 crore semiconductor mission and a Rs 23,000 crore components incentive scheme as key drivers of value-add and supply chain self-reliance.
Defence Ministry Clears Rs 1 Lakh Crore in Military Purchases
The defence ministry has given initial approval for defence acquisitions worth over Rs 1 lakh crore, including mine countermeasure vessels, quick-reaction air defence missiles, and high-end surveillance platforms. The largest of these is a Rs 44,000 crore project to indigenously build 12 mine countermeasure vessels, vital for detecting and neutralising underwater mines that could threaten ports and shipping lanes.
Also cleared was a Rs 36,000 crore procurement of DRDO-developed quick-reaction surface-to-air missile (QRSAM) systems, which will strengthen the Army and IAF’s ability to intercept drones, helicopters, and fighter jets at short ranges. Three ISTAR surveillance aircraft, estimated at Rs 10,000 crore, and semi-submersible autonomous vessels for ISR missions were also granted acceptance of necessity (AoN).
Trump’s ‘Big Beautiful Bill’ Passes In Tight Vote
US President Donald Trump clinched a major political win on Thursday as Congress narrowly passed his flagship tax and spending bill, dubbed the “One Big Beautiful Bill,” delivering on key second-term promises, including mass deportations and military expansion. Passed 218-214 in the House, the $4.5 trillion package boosts Trump’s anti-immigration agenda and extends first-term tax cuts, while slashing healthcare and food support for millions.
Despite deep Republican divisions and a nine-hour delay by Democratic leader Hakeem Jeffries, Speaker Mike Johnson rallied enough GOP votes to push the bill through. Critics warn the bill could strip Medicaid coverage from up to 17 million people and add $3.4 trillion to the deficit. Democrats branded the measure a “massive wealth transfer” and aim to make it a key issue in the 2026 midterms.
From The States
EC Defends Bihar Voter Roll Revision As Lawful
Despite opposition concerns that the special voter list revision in Bihar may disenfranchise lakhs, the Election Commission said the process is legally mandated and fully transparent. CEC Gyanesh Kumar cited Article 326 of the Constitution and provisions of the R P Act, 1950, to affirm the legality of the ongoing revision.
The EC assured parties that all eligible voters will be included, while ineligible names, such as illegal immigrants or non-residents, will be removed. No genuine migrant from Bihar will lose voting rights, officials clarified, but will be enrolled where they ordinarily reside. The last such revision in Bihar took place 22 years ago.
Sharad Pawar to Skip Thackeray Cousins’ Rally
NCP (SP) chief Sharad Pawar will not attend the joint “victory rally” being organised by Uddhav and Raj Thackeray on Saturday, citing prior commitments. State NCP (SP) chief Jayant Patil and Congress state president Harshawardhan Sakpal are expected to represent their parties at the event in Worli’s NSCI Dome.
The rally, called to celebrate the state government's rollback of Hindi’s inclusion as a third language in schools, will feature both Thackeray cousins along with Aaditya and Amit Thackeray. Shiv Sena (UBT) and MNS leaders said the event is “non-political” but carries strong Marathi unity overtones, with possible implications for a BMC poll alliance.
You’re all caught up—until next time.