Daily Briefing: Follow the money

Indian Express

2 days ago

Good morning,
The clock's ticking on the July 9 deadline to sidestep US President Donald Trump's steep reciprocal tariffs. The Indian government has been negotiating with its US counterpart for months. Last week, Trump hinted that an interim bilateral trade deal with India may be approaching. The agreement, he said, would 'open up' the Indian market to US goods. Borrowing words from Trump's vocabulary, Union Finance Minister doubled down on his announcement, saying, 'Yes, we would love to have an agreement, a big, good, beautiful one; why not?' She also made it clear that certain sectors were off limits. Indian officials have drawn 'very big red lines' when it comes to agriculture and dairy to protect the industry's concerns. Read her full interview.
On that note, let's get to the rest of today's edition.
In recent years, India has recorded a worrying rise in online fraud, particularly digital arrests, a scam where fraudsters impersonate law enforcement or government authorities to trick victims with fake video interrogations and extort money. In 2024 alone, around 1.23 lakh cases of digital arrest, involving Rs 1,935 crore, were reported — almost thrice the 2022 cases.
Our investigative reporter Ritu Sarin zeroed in on an illustrative case in Gurugram to understand the nature of the crime. She tracked the money trail through an investigation of police records, interrogation statements, along with field visits to police stations across three states, interviewing dozens of traumatised victims.
Sarin found that besides the victim, whose bank account was emptied, there were also 'mule' account holders, whose bank accounts were used to create a befuddling web of transactions. The money, totalling nearly six crore, was splintered and transferred through a staggering 141 accounts in 23 banks across 15 states. Take a look at her findings.
As The Indian Express marks 50 years since the Emergency, senior BJP leader Ravi Shankar Prasad joined the latest Idea Exchange session. A vocal opponent of the Indira Gandhi regime, Prasad was imprisoned under the harsh MISA (Maintenance of Internal Security Act) for his protests during that time. He reflected on what he called one of India's darkest chapters, and discussed its most enduring, and controversial, legacy — the 42nd Amendment to the Constitution.
🔴 Besides the political reasons, which saw Gandhi losing grip over her kursi, there were also economic factors behind her decision to impose the Emergency. My colleague Siddharth Upasani details how devastating droughts, a failing economy and domestic unrest had left the government beleaguered.
🔴 While the many triggers for the Emergency have been identified, historians have long puzzled over Gandhi's decision to hold elections and end the Emergency ultimately. Was she confident that she would win? Or was it because of the growing international criticism? Read.
Twin acts: Work is underway to amend two key laws to open up the civil nuclear sector. Anil Sasi outlines the two changes: One would dilute a specific provision of the Civil Liability for Nuclear Damage Act, 2010, which places accountability on the suppliers for a nuclear incident. This has been cited as an impediment to foreign vendors dealing with India. Second, an amendment to the Atomic Energy Act of 1962 would allow private companies to enter the closed-off nuclear sector. Read more.
Fuel up: The Indian Air Force has been scouting for crucial mid-air refuellers to expand its strategic assets since 2007. As per sources, 3-4 firms have submitted bids for six such tankers. The IAF has begun technical evaluations for these aircraft.
Dig in: The National Highway Authority of India (NHAI) has undertaken an ambitious project to carve out a 22-metre-wide and 11-metre-high tunnel, the widest tunnel in the country, through the Mukundra Hills in Rajasthan's Kota. This tunnel will be a crucial link for the Delhi-Mumbai Expressway. The project has proven to be more challenging than initially thought due to the terrain. The Indian Express speaks to the various stakeholders — a worker in charge of blasting the rocks, the project head, a geologist and a safety expert — to understand the challenges.
Rein in: On his first day as President, on January 20, Trump signed an order to end birthright citizenship for children of undocumented immigrants and those on temporary visas in the US. Several federal district courts blocked the order just days later. However, a Friday ruling by the US Supreme Court has limited the powers of federal judges to issue nationwide injunctions, removing the roadblock to the implementation of Trump's order. We explain the legal system in the US and what the latest ruling means.
♟️ R Praggnanandhaa is on the hottest streak of his career. The UzChess Cup is the third title of 2025 he has claimed after the Tata Steel Chess tournament in Wijk aan Zee and the Superbet Chess Classic Romania. The Indian Express sat down with the chess prodigy for an interview to uncover the 'secrets' behind his success.
🎧 Before you go, tune into the latest '3 Things' podcast episode. Today's lineup: The Kolkata rape case, the stampede at Jagannath Rath Yatra in Puri and the hype around Australian teenage sprinter Gout Gout.
That's all for today, folks! Until tomorrow,
Sonal Gupta
Sonal Gupta is a senior sub-editor on the news desk. She writes feature stories and explainers on a wide range of topics from art and culture to international affairs. She also curates the Morning Expresso, a daily briefing of top stories of the day, which won gold in the 'best newsletter' category at the WAN-IFRA South Asian Digital Media Awards 2023. She also edits our newly-launched pop culture section, Fresh Take.
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