Recent reports from India cover several key developments, including a ceasefire between India and Pakistan following missile and air strikes, with Prime Minister Modi emphasizing that military action is only paused and India remains vigilant. The de-escalation contributed to a significant surge in India's equity markets, driven also by a new U.S.-China trade truce that lowered tariffs, though it may affect India's trade advantage. The India-Pakistan conflict also led to a temporary suspension of the Indian Premier League (IPL), which is now set to resume, while several airports in northern, western, and central India have reopened. Domestically, there are discussions on how to address the conflict's aftermath, with a suggestion for an all-party meeting instead of a parliamentary session, and some individuals were arrested for anti-India social media posts. Meanwhile, the U.S. is considering drug price cuts that could impact Indian pharmaceutical exports, and India is engaging China over export restrictions on germanium, a critical mineral. Finally, the Cannes Film Festival will feature the restoration of a classic Indian film by Satyajit Ray.
