India's next phase of growth in the metals sector is expected to be powered by recycling instead of mining, with scrap likely to become one of the industry's most valuable resources, according to a new thematic report by Ashika Institutional Equities. The report suggests that the country's organised non-ferrous recycling industry is entering a long-term growth cycle driven by structural changes in demand and policy.

In its report, "Recycling: The New Ore," Ashika Institutional Equities said the global metals industry is witnessing a major transformation as demand from renewable energy, electrification and infrastructure development continues to rise while natural resources become increasingly constrained and environmental regulations grow stricter. The brokerage believes that future value creation in the metals industry will depend less on owning mines and more on securing reliable scrap supplies, developing efficient sourcing networks and investing in advanced recycling technologies.

According to the report, India's metals landscape is gradually moving away from a mining-centric model towards one where recycling plays a central role. Increasing domestic metal consumption, limited natural resources and growing sustainability goals are expected to boost the importance of recycled lead, copper and aluminium in meeting future demand.

The report also highlighted that government initiatives such as the Battery Waste Management Rules (BMWR) and the Extended Producer Responsibility (EPR) framework are encouraging a transition from the informal scrap sector to organised recycling. These regulations are expected to create significant long-term growth opportunities for companies that comply with environmental and operational standards.

Ashika noted that the industry's competitive dynamics are changing rapidly, with access to high-quality scrap becoming more critical than simply having large processing facilities. Companies with strong collection networks, efficient sourcing systems and regulatory compliance are likely to enjoy a competitive edge over rivals focused solely on expanding production capacity.

The report further observed that organised recyclers are increasingly diversifying into value-added products, including alloys, conductors, busbars and other specialised metal products. This shift is expected to improve profitability and strengthen customer relationships by generating greater value from each tonne of recycled material.

The report identified lead as offering the most stable earnings outlook due to consistent battery replacement demand and supportive regulations. Copper was highlighted as the largest long-term growth opportunity, supported by rising demand from electrification and an expanding domestic supply gap. Aluminium was described as a major decarbonisation opportunity because recycling aluminium consumes significantly less energy than producing the metal from raw ore.

The report concluded that India is still at an early stage of its recycling transition. However, robust metal demand, supportive government policies and increasing investment in organised recycling capacity are expected to position the sector for sustained multi-year growth. Among the various segments, organised non-ferrous metal recyclers are likely to offer some of the strongest long-term investment opportunities.
Disclaimer: This image is taken from ANI.

External Affairs Minister S Jaishankar highlighted the need for balanced trade, fair market access and dependable supply chains during his meeting with Chinese Foreign Minister Wang Yi in Manila, amid efforts to further improve India-China relations ahead of the upcoming BRICS summit. The talks were held on the sidelines of ASEAN-related events and marked another important engagement between the two countries as they continue efforts to stabilise bilateral ties.

Jaishankar acknowledged several recent steps that have helped restore normalcy between New Delhi and Beijing, including improvements in visa arrangements, the revival of direct air connectivity, the restart of the Kailash Mansarovar pilgrimage and the resumption of border trade. He described these developments as positive moves towards rebuilding confidence.

During the discussions, Jaishankar stressed that maintaining peace and stability along the India-China border remains essential for a healthy bilateral relationship. He noted that since the October 2024 meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping in Kazan, both sides have remained engaged through established channels to maintain border peace.

He also emphasised the importance of continuing support for existing diplomatic and military mechanisms responsible for managing border-related issues. The meeting comes ahead of the BRICS summit, which India is scheduled to host in September. Jaishankar thanked China for supporting India’s presidency of the grouping. Although Beijing has not yet officially confirmed participation, Xi Jinping is expected to attend the summit, which could further signal progress in bilateral ties.

While relations between the two countries have shown signs of improvement after the resolution of the eastern Ladakh border standoff following the Modi-Xi meeting in Kazan, economic challenges continue to remain a major concern for India. Jaishankar pointed to the significant trade imbalance between the two nations, estimated at around $100 billion, and stressed the importance of ensuring reliable access for Indian industries to essential Chinese raw materials. He underlined that reducing economic asymmetry would be crucial for achieving deeper normalisation.

Indian officials have continued to raise concerns over trade barriers and restrictions from Beijing, while efforts are being made to create more predictable supply chains and ensure trade practices follow global standards. Jaishankar reiterated that fair market access and a more balanced trade relationship remain key priorities for India, along with strengthening official exchanges and people-to-people contacts.

The External Affairs Minister also called for scheduling meetings under various bilateral mechanisms based on mutual priorities. He described the engagement as significant given the complex global environment and highlighted the need for responsible diplomacy between the two neighbouring powers. Jaishankar said that differences between India and China are natural due to their size and interests but should not escalate into disputes. He reaffirmed that the relationship must move forward on the foundation of the “three mutuals” — mutual respect, mutual interest and mutual sensitivity.

He added that a stable and cooperative India-China relationship could contribute to a more balanced and multipolar Asia as well as a multipolar global order. He also recalled that bilateral ties have been gradually improving since the Kazan meeting, with further momentum following the Modi-Xi interaction at the SCO summit in Tianjin last year.
Disclaimer: This image is taken from PTI.

India has surpassed the United States to become the world’s second-largest contributor to global savings in purchasing power parity (PPP) terms, according to a new working paper released by the Economic Advisory Council to the Prime Minister (EAC-PM). The report, titled “The World in Purchasing Power Parity (Trends since 1992)”, highlights India’s growing economic influence, noting that the country’s share of global savings has increased sharply over the past three decades. India’s contribution rose from 3.3% in 1992 to 10.3% in 2025, placing it ahead of the US, whose share declined to 9.4% during the same period. China remains the world’s largest contributor, accounting for 31.9% of global savings.

The increase in India’s share of global savings reflects the country’s expanding economic capacity and its growing ability to generate resources for investment. Savings are considered a key driver of economic growth as they provide funding for infrastructure projects, industrial expansion, businesses, and long-term development.

The report notes that while India’s economic progress is often measured through GDP rankings, its rising contribution to global savings offers another perspective on its growing role in the international economy. The analysis uses purchasing power parity, a method that adjusts for differences in price levels across countries, allowing for a more accurate comparison of economic strength and activity.

The study examines changes in the global economic landscape between 1992 and 2025 through indicators such as global GDP share, per-capita income, savings, and investment. It highlights a major shift in economic influence from Western economies towards Asia over the past three decades. During this period, the share of global savings held by countries such as the United States, Japan, and several European economies declined, while Asian nations recorded significant gains. China’s share of global savings increased from 8.9% in 1992 to 31.9% in 2025, while India’s share more than tripled. The report suggests that this trend reflects the growing importance of Asian economies, particularly China, India, and Indonesia, in global production, investment, and financial activity.

However, despite India’s rise as one of the world’s largest sources of savings, the country continues to invest slightly more than it saves. The report estimates India’s share of global investment at 10.8%, compared with its 10.3% share of global savings. This difference contributes to India’s continued current account deficit, as the country relies on foreign capital inflows to support the gap between domestic savings and investment requirements. In contrast, China saves more than it invests, allowing it to maintain a current account surplus.

The findings underline India’s changing position in the global economy, with its expanding savings base reflecting stronger economic activity and increasing influence in global financial trends. As the country continues to grow, its ability to generate and channel savings into productive investments will remain a key factor in shaping its future economic trajectory.
Disclaimer: This image is taken from Shutterstock.

India and the European Union have reinforced their strategic partnership by expanding cooperation under the India-EU Trade and Technology Council (TTC), with both sides agreeing to accelerate collaboration in critical technologies, clean energy, digital infrastructure, and trade. The latest engagement between Indian and European officials underscored a shared commitment to strengthening economic ties while addressing global challenges such as supply chain resilience, technological security, climate change, and sustainable development.

The Trade and Technology Council, launched to provide a structured platform for high-level cooperation, has become a key mechanism for aligning priorities in emerging technologies and future industries. Unlike traditional trade dialogues, the council brings together experts and policymakers to work on issues that extend beyond commerce, including innovation, research, digital governance, and green technologies.

A major area of focus during the discussions was strategic technology. India and the European Union agreed to enhance cooperation in sectors such as artificial intelligence, semiconductors, quantum technologies, high-performance computing, secure telecommunications, and trusted digital infrastructure. Officials believe stronger collaboration in these fields will help reduce vulnerabilities in global supply chains while encouraging innovation and investment.

The two sides also reiterated their commitment to supporting research partnerships, startup ecosystems, and technology-driven businesses. By promoting joint innovation projects and facilitating knowledge exchange, both partners aim to create opportunities for companies and researchers across India and Europe.

Clean energy emerged as another priority during the discussions. India and the EU agreed to deepen cooperation in renewable energy, green hydrogen, battery recycling, sustainable mobility, and energy-efficient manufacturing. The partnership is expected to support the development of cleaner industrial technologies while contributing to global climate goals.

Officials noted that collaboration in battery recycling and circular economy practices could play an important role as demand for electric vehicles continues to rise worldwide. Increased cooperation in these sectors is also expected to encourage investment and strengthen sustainable manufacturing capabilities. Trade and investment remained central to the discussions as both sides explored ways to improve market access, simplify regulatory cooperation, and strengthen resilient supply chains. The European Union remains one of India's largest trading partners, and both economies continue to work toward expanding bilateral trade while creating a more predictable business environment for investors.

Industry experts say the growing partnership comes at a time when countries are increasingly seeking trusted economic and technology partners amid geopolitical uncertainty and shifting global trade patterns. Cooperation between India and the EU is expected to help diversify supply chains, boost industrial competitiveness, and accelerate the adoption of advanced technologies.

Analysts also believe the Trade and Technology Council could serve as a catalyst for long-term collaboration in areas such as digital public infrastructure, cybersecurity, clean manufacturing, and next-generation communication networks. As both partners seek to reduce dependence on limited supply sources and strengthen economic resilience, the council is expected to play a larger role in shaping future policy initiatives. The latest developments reflect the broader strategic relationship between India and the European Union, with both sides emphasizing that closer cooperation in technology, sustainability, and trade will not only benefit their respective economies but also contribute to a more secure, resilient, and sustainable global economic landscape.
Disclaimer: This image is taken from Indian Defence News.

On the July 13 edition of Open For Business, Andrea Heng and Hairianto Diman spoke with Mel Siew, Head of Asia Public Credit at Muzinich & Co., to examine the latest market trends. The discussion covered the resilience of Asian credit markets, growth opportunities in AI infrastructure, and the potential inflationary impact of rising oil prices on the global economy.

Disclaimer: This podcast is taken from CNA.

On the 2 July episode of Open For Business, Andrea Heng and Hairianto Diman sit down with Lorraine Tan, Morningstar's Director of Equity Research for Asia, for an in-depth analysis of the markets.

Disclaimer: This podcast is taken from CNA.

In a world increasingly dominated by digital wallets and quick online payments, cash is often viewed as outdated. Yet, for many people — from elderly citizens concerned about digital scams to families making everyday purchases at hawker centres — physical money remains a dependable and familiar way to pay. Andrea Heng and Hairianto Diman explore the importance of creating a payment ecosystem that remains accessible and inclusive for all. They speak with Wong Wanyi, FinTech Leader at PwC Singapore, about the role of cash in a rapidly changing financial landscape.

Disclaimer: This podcast is taken from CNA.

A decade after the Brexit referendum, the United Kingdom is again facing a leadership transition, with the departure of Prime Minister Keir Starmer set to bring the country its seventh prime minister in just over 10 years. This frequent turnover reflects the ongoing political instability linked to the long-term effects of the Brexit. As nominations open on 9 July and a new prime minister is expected by September, analysts are examining what this latest leadership crisis reveals about Brexit’s lasting impact on British politics and governance, including insights from political analyst Alexander Hilton of Skystamper.
Disclaimer: This podcast is taken from CNA.