• S&P Global Upgrades India’s Sovereign Rating
  India’s sovereign credit rating was raised from BBB- to BBB, marking its first upgrade in nearly 19 years. This upgrade reflects regained investor confidence, bolstered by economic reforms, fiscal stability, and infrastructure progress—despite political tensions with the U.S. over tariffs.
  The Times of India+1

• Goldman Sachs Flags Elevated Risk of Market Correction
  The bank warned that the S&P 500 faces more than a 10% chance of a drawdown within three months and over 20% within a year, driven by a weakening business cycle, softer job data, and inflation concerns.
  Business Insider

India-Specific Business Developments

• Independence Day: Semiconductor Promise and Reform Push
  On August 15, Prime Minister Modi reaffirmed India’s commitment to economic self-reliance. He announced that “Made in India” semiconductor chips will hit the market by year-end and pledged to introduce next-generation GST reforms by October.
  Financial TimesThe Times of India

• Rice Prices Spike Dramatically
  Due to Bangladesh’s duty-free rice import policy, Indian rice prices surged up to 14% in just two days, with traders scrambling to fulfill shipments.
  The Times of India

• India–U.S. Trade Activity Surges
  In July, India’s exports to the U.S. rose nearly 20% to $8.01 billion, while imports increased by about 13.8% to $4.55 billion, signaling robust trade dynamics despite tariff tensions.
  The Times of India

• Widening Trade Deficit
  July trade data shows exports rose 7.3% year-on-year to $37.24 billion, but imports jumped 8.6% to $64.59 billion, expanding the trade deficit to an eight-month high of $27.35 billion—largely due to rising imports of crude oil and gold.
  The Times of India

• Exporters Aim to Navigate Tariff Hurdles
  The Indian government unveiled a four-pillar support plan to help exporters counteract tariff headwinds, including boosting trade with 50 key markets that account for over 90% of India’s export base.
  The New Indian Express

• Darwinbox Bags $40 Million Funding
  Hyderabad-based HRTech startup Darwinbox raised US$40 million from Canada’s Teachers’ Venture Growth (TVG), signaling strong investor confidence in India’s tech startup ecosystem.
  The Times of India

• India Achieves Clean Energy Goal Early
  During the Independence Day address, PM Modi announced that India hit its clean energy target—50% of installed capacity from non-fossil sources—five years ahead of schedule.
  The New Indian Express

International Business Signals

• U.S. Mortgage Rates at 10-Month Low
  The U.S. 30-year mortgage rate dropped to 6.58%, easing pressure on homebuyers amid a slow housing recovery.
  The Times of India

• KOI Dessert Bar in Melbourne Seeks Restructuring
  The Melbourne outlet of the well-known KOI Dessert Bar entered voluntary administration with liabilities exceeding $1.6 million. Operations continue elsewhere, and efforts are underway to secure a franchisee for the existing location.
  Herald Sun

• Growing Pains in New York’s Cannabis Sector
  Some 100 licensed cannabis dispensaries in New York may need to relocate after officials admitted to a zoning miscalculation. Financial aid up to $250,000 is being offered to support relocations.