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Balancing Brics
The 17th Brics summit was held in Brazil amid tariff threats and geopolitical conflicts, with the bloc seeking to strengthen the position of the global south. The absence of China’s Xi Jinping and the virtual participation of Russia’s Vladimir Putin owing to legal constraints underscored internal challenges.
Brics+, now expanded to 11 members, represents 48% of the global population and is steadily closing the GDP gap with the G7, according to a Mint analysis. However, the bloc has more differences than similarities, with only a few countries, including India and South Africa, having strong democratic values.
Electricity demand dips
India’s electricity demand fell 1.5% year-on-year in the June quarter to 445.8 billion kilowatt hours, according to the data from the Central Electricity Authority. This marks the first drop since the 2020 pandemic-hit first quarter of 2020.
The decline in April-June 2025 was likely due to a cooler summer and an early monsoon, which reduced energy needs. The latest data from the India Meteorological Department showed that May saw a maximum temperature of 35.08 degrees Celsius, as against the normal trend of 36.60 degrees Celsius. The highest supply in a day (peak power demand met) in June also fell to about 242 GW last month from about 244 GW in June 2024.
Nvidia is in a league of its own
$4 trillion: That’s the market cap Nvidia briefly hit on 9 July after its shares surged to an all-time high of $164.42, extending its lead over Apple and Microsoft as the world’s most valuable publicly traded company. Nvidia’s stock has seen strong demand in the past five years, driven by growing investor confidence in its critical role in powering AI technologies. The chipmaker’s shares have gained around 21% since last year, Mint reported. The company, founded in 1993, first surpassed $2-trillion in market cap in February 2024 and $3 trillion in June 2024.
Renewed US tariffs
With the 9 July deadline for trade deal negotiations ending, the US has sent formal letters to 14 countries, outlining revised tariffs. Among these, Laos and Myanmar have been hit with 40% reciprocal tariffs, the highest in the current list. Five of these, including Japan and South Korea, have been hit with a 25% tariff. The new reciprocal tariffs for the listed countries are set to take effect from 1 August. India, which is trying to strike a trade deal with the US, is unlikely to receive such a formal notification, Mint reported.
Accenture signals IT slump
A 6% drop in Accenture’s new bookings in Q3FY25 led to a sharp decline in its stock last month. This was mirrored by Indian IT stocks, highlighting the company’s influence on the sector.
As a major player with overlapping markets, especially in North America, Accenture is seen as a bellwether for Indian IT firms. All listed Indian IT companies earn over 50% of their revenue from the Americas, making them sensitive to demand shifts there.
However, an analysis by howindialives.com shows that the Dublin-headquartered tech and consulting major differs from Indian IT firms in several ways, warranting a closer look beyond its quarterly numbers.
Balrampur Chini’s bio bet
₹2,850 crore: That’s the investment Balrampur Chini Mills is making on bioplastics amid price controls and climate risks, Mint reported. The company is setting up a polylactic acid plant, India’s first by a sugar firm, next to its Kumbhi mill in Uttar Pradesh, aiming for ₹2,000 crore in revenue by 2027. PLA, a biodegradable plastic made from sugar, will initially target single-use plastic substitutes. While analysts see it as an ESG-friendly growth engine, concerns persist over input risks, as the plant will still rely on sugarcane, which is a water-guzzling crop vulnerable to weather shocks.
RCB’s power play
The Indian Premier League’s (IPL) valuation rose 12.9% year-on-year to $18.5 billion in 2025, cementing its status among the world’s top sporting leagues, according to a study by Houlihan Lokey. Royal Challengers Bangalore became the most valuable team after their maiden title win in 2025, replacing Chennai Super Kings. Mumbai Indians ranked second and Chennai Super Kings settled for third. Advertising revenues crossed $600 million, and viewership peaked at 678 million during the final on 3 June. With growing investor interest and cross-league expansion, IPL is evolving into a global media-sport brand, with longer seasons expected in future, the report said.
Chart of the week: How urban Indians use their time
Urban Indians love to watch TV and give a lower priority to reflection, relaxation and rest, a Mint analysis of the Time Use Survey 2024 showed. Watching TV is the top leisure activity, especially for urban women, while rural women, who work the hardest, prefer talking over screen time to unwind.
Follow our data stories on the In Charts and Plain Facts pages.
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