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Good evening, On Tuesday, an Indian delegation met with the International Olympic Committee (IOC) and its leadership in Lausanne, officially putting forward Ahmedabad’s name as the city of choice for a future edition of the Olympic Games. The city is hoping to secure the hosting rights for the 2036 Olympics, despite the IOC pausing the selection process for future Games. According to President Kristy Coventry, the world body’s members want a greater say in the selection process. Since India harboured Olympic ambitions, Ahmedabad was widely believed to be the Indian government’s first choice, but Tuesday’s announcement formalised the city’s nomination. However, with the Future Games Commission’s selection model now suspended and the IOC exploring alternatives through a working group study, India’s bid could face potential obstacles. Last week, the IOC stated that a double-digit number of countries had expressed interest in hosting the 2036 edition, including Turkey, Saudi Arabia, Indonesia, Chile, and Germany, among others. On that note, let’s dive in 👇🏽
📝 The Debrief
An interim trade deal with the US is inching closer to the finish line ahead of the July 9 deadline
Talks between Indian and US negotiators over an interim trade agreement are now in their final and most crucial stages. True to form, however, US President Donald Trump said aboard Air Force One on Tuesday that the deal was of a “different kind” that would allow American companies to “go and compete.” In typical Trump-speak, he added, “Right now, India does not accept anybody in. I think India is going to do that, and if they do that, we’re going to have a deal for much less tariffs.” Getting there: Trump’s comments followed his Treasury Secretary, Scott Bessent, who told Fox News on Tuesday that the two countries are “very close” to a deal. As noted in this letter on Monday, one of the main sticking points is the US seeking increased access to India’s agricultural markets, particularly for its soybean and maize exports, as well as dairy. India has also sought zero tariffs on electronic exports. The Financial Times reported on Tuesday that “the deal is expected to spare India’s big and politically influential agricultural markets, including wheat and dairy, from US tariffs,” adding that India had “agreed to import more natural gas from the US to bring down its trade surplus.” Delhi’s wishlist: The hope of an interim agreement, as my colleagues Ravi Dutta Mishra and Anil Sasi write here, comes amid “greater receptiveness within India’s policy circles to cut tariffs on some industrial goods, including automobiles, and some agri products of interest to Americans such as apples, almonds, walnuts, avocados, and spirits.” India, they add, could import more from the US, especially in crude oil, defence equipment, and nuclear sectors, to bridge the trade gap. The China question: India is hoping that the Trump administration will maintain a “steady tariff differential” of 10-20% between US tariffs on China and India, which is also a key reason to clinch the deal. This is because, in some sectors, Indian producers are reasonably competitive, with China already facing high tariffs, at least on paper. A 20% differential, according to officials, can help India overcome structural barriers such as “infrastructure bottlenecks, logistics woes, high interest cost, the cost of doing business, corruption, etc.” Should India clinch the deal before July 9 (as it seems likely), India could see tariffs decrease from 26% to a level closer to 10%. However, China, which currently faces 55% tariffs, could see its rate reduced to an effective 30%, with further decreases expected due to its export of rare-earth minerals and their increased importance in the US automotive and defence industries.
✍️ From our newsroom
India Manga wave: As an older weeb, I thoroughly enjoyed reading this long read by my colleague, Aishwarya Khosla. Although I'm not as into anime or manga, these Japanese graphic novels have become all the rage among young Indians. They’re hooked not just on Manga, but also on its manifestation in Korean culture (manhwa) and China (manhua). What was once a quiet subculture has now truly gone mainstream. From metro rides (as in Tokyo) to sibling chats, titles like One Piece, Jujutsu Kaisen, and Here U Are are more than just conversation starters. Anime, however, is still the gateway drug. Pokémon lit the spark, Dragon Ball Z kept it burning, and now, fans dive deep into long-running storylines and niche genres, such as BL (Boys’ Love), horror, and slice-of-life sports dramas. Why is that happening? Platforms like Netflix and Crunchyroll have expanded access, while Comic Con India has become a hub for anime cosplay and local manga-inspired art. Homegrown creators are jumping in, too. With artists like Aparna Chaurasia and big publishers like Yen Press entering the Indian market, this wave isn't slowing down. It's here to stay (and likely grow).
🔎 Need to know
Your move: President Trump announced that Israel had agreed to a 60-day ceasefire in Gaza and urged militant group Hamas to “take the deal.” He warned Hamas that if it did not accept the deal, “it will not get better, IT WILL ONLY GET WORSE (sic).”
No changes: A few days before his 90th birthday, the 14th Dalai Lama reiterated on Wednesday that the institution of the Dalai Lama would continue, and that “the sole authority to recognise the future reincarnation” would be with the Gaden Phodrang Trust. Hinting at China, he said, “No one else has any such authority in interfering with the matter.” Surge on: The government has permitted cab aggregators like Ola and Uber to charge up to double the base fare during peak hours, exceeding the previous 1.5 times base fare limit.
🎙️Expresso Playlist!
In today’s Playlist, I’ll recommend a really, really good episode from the Acquired podcast, which delves deeply into Google – from its origins as a Stanford research project called BackRub to what it is today. Warning: It’s 3 hours and 39 minutes long, but well worth your time. So tune right in!
✋🏽 One last thing
I’ll leave you with a cool Wall Street Journal story from Brazil’s São Paulo, where bloodhounds assist police as private detectives, helping desperate owners to find their beloved four-legged pets for as high as $200 an hour, and of course, solving homicide cases.
That’s all from me today. Thank you so much for reading this edition. If you enjoy the Evening Expresso, tell your friends to subscribe to the newsletter. You can do so by signing up for the Morning Expresso. Additionally, you can reach me via email for tips, feedback, or simply to say hello! 😀 Until tomorrow, Venkat Ananth |
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