Dear readers,

Have you heard the latest buzz from India's honey sector? India, with its rich diversity of flora, produces close to 152,000 tonnes. The industry saw a growth of over 7%, much higher than the average growth of 2-3% for conventional crops such as cereals and pulses. 

Our reporter, Sayantan Bera, found that Indian beekeepers are feeling the sting of recent US trade decisions.

Export rates have halved, falling from $3,000 to $1,500 per tonne, and farmgate prices have followed, sliding to ₹90-110 per kg, well below the pandemic peak of ₹150–170. For beekeepers, it's an immediate, hard impact on their livelihoods.

The story is a reminder of how global trade decisions can reach all the way into India's apiaries, affecting everyday producers in a very direct way.

Curious to know more? Check out Sayantan's full story, and don't miss his behind-the-scenes account in the latest edition of Mint's new newsletter, The Beat Report.

On to the best of Mint's journalism from this week:

How US tariffs are threatening India's 'China+1' manufacturing bet

On the edge of Bengaluru, a toy factory buzzes with urgency as workers race to meet holiday orders for American clients. Yet, behind the hum, anxiety looms. Propelus Manufacturing and others are offering steep discounts following Trump's additional tariffs on Indian goods. The move has spooked US buyers, stalling millions in future orders. From toys in Karnataka to shoes in Agra and furniture in Rajasthan, exporters are scrambling, some even routing goods through Vietnam and Bangladesh to dodge the US's tariffs. The bigger worry: Can India still stake its claim as the world's next factory hub? 

From trainee to titan: Wipro's Vineet Agrawal marks 40 years

In 1985, Vineet Agrawal walked into Wipro as a management trainee. Four decades later, he stands as one of India's longest-serving consumer goods CEOs. For the past 22 years, Agrawal has helmed Wipro Consumer Care and Lighting, transforming it from a soap maker into a global FMCG player. He expanded the company's footprint across Southeast Asia, West Asia, and Africa through bold acquisitions, while nurturing brands like Santoor, Yardley and Enchanteur into household names. His long tenure is rare in India's corporate world, where leadership churn is common. Read this Long Story to take a look at Agarwal's decades-long journey. 

India's battery PLI scheme faces review after four years of delay

Four years after the government announced its ₹18,100-crore incentive scheme to boost battery manufacturing, not a single rupee has been disbursed. The Ministry of Heavy Industries will now review the plan, meant to develop 50 GWh of advanced battery storage by 2029, after progress stalled at just 40 GWh. Even approved players like Ola Electric, Reliance, and Rajesh Exports have been fined for missing deadlines. Meanwhile, most Indian automakers still rely on imported Chinese cells, only assembling them locally. As EV adoption grows, the review raises a critical question: can India build its own battery ecosystem fast enough to reduce dependence on China? 

Billionaire villages: What do India's richest panchayats have in common?

When you think of an Indian village, dusty lanes and meagre budgets may come to mind. But a few gram panchayats are rewriting the script. Take Neraluru near Bengaluru, which collects nearly ₹20 crore a year from industries and real estate. In Maharashtra, Ranjangaon Ganpati earns ₹17.5 crore on the back of its highway location and temple economy, while Pimpalgaon Baswant pulls in over ₹13 crore thanks to its thriving markets. In all, eight panchayats collect more than ₹10 crore annually. Their secret: proximity to cities, highways and industrial corridors. With their own robust tax bases, these villages resemble mini municipalities, gaining financial independence even as most of India's 250,000 panchayats struggle to stay afloat.

ICICI Bank's higher minimum balance signals a hunt for quality deposits

Earlier this month, ICICI Bank raised the minimum balance for new savings accounts to as much as ₹50,000, sparking a public outcry. The bank partly rolled it back, but still enforced a 50% hike in most categories. The move reflects pressure on margins as cheap deposits—current and savings accounts—shrink across the industry. ICICI's cost of deposits has risen, its net interest margin dropped, and its Casa share is slipping. By nudging new customers towards higher balances, the bank hopes to secure more stable, low-cost funds. The question is, will rivals follow suit or chase inclusivity instead? 

'Not knee-jerk': Vaishnaw says gaming ban aims to shield citizens, not revenues

What happens when a sunrise sector suddenly faces sunset? The Centre's move to ban real-money online gaming, think Dream11, RummyCulture, and MPL, has sent shockwaves across the $3.6 billion industry. Union IT Minister Ashwini Vaishnaw insists this isn't a knee-jerk reaction but a response to crores of rupees lost by citizens on platforms "rigged so no user can ever be a net winner". With Indians reportedly losing nearly ₹15,000 crore annually, the government says the ban is about protecting society, even if it risks job losses, lower taxes, and foreign investment flight. Will this bill truly safeguard users, or push them to unregulated offshore platforms?

Mint Explainer | China's Wang Yi in India: A reset for bilateral ties or just tactical realignment?

China's foreign minister Wang Yi was in India to meet national security advisor Ajit Doval for boundary talks. But was it just about borders or something bigger? The visit came right before Prime Minister Narendra Modi's much-anticipated China trip for the SCO summit, where he'll meet Chinese President Xi Jinping after seven years. With US tariffs straining India's trade, and China eager to keep India in its economic orbit, could Washington's stance be nudging Delhi and Beijing closer? The Pakistan factor still looms large, and border de-escalation remains the ultimate test of trust. Is this a tactical reset or the beginning of a deeper India-China realignment?

Aggarwal goes missing at many Ola Electric board meetings

Ola Electric's Bhavish Aggarwal, who built one of India's most ambitious EV companies, attended just four out of 17 board meetings last year. That's barely 24%, compared with near-perfect attendance by leaders of rivals like Bajaj Auto, TVS, and Hero. Why is Ola's chairman missing from the very table where big decisions are made, especially when the company is losing market share and battling regulatory scrutiny? Is Aggarwal too focused on operations and new ventures like AI startup Krutrim?

India may crack open the gates to Chinese inflows

India is quietly weighing a softer stance on Chinese investments, just ahead of PM Modi's visit to China. But the question is: can trade trump trust after the Galwan clash between the two neighbours a few years ago? Reports suggest New Delhi may ease rules for "non-sensitive" sectors like renewables, consumer goods, and manufacturing while keeping telecom and defence off-limits. With US tariffs biting hard and foreign investments slowing, India needs fresh capital to fuel its $100-billion FDI target for FY26. Will letting Chinese money in help bridge the gap, or open up fresh vulnerabilities in critical supply chains?

That's all for this week. I hope you have a pleasant weekend!

If you have feedback, want to discuss food, or have anything else to say about our journalism, write to me at siddharth.sharma1@htdigital.in or reply to this email. You can also write to feedback@livemint.com.

Best,

Siddharth Sharma

Community Editor

Subscriber Experience Team