Indian Prime Minister Narendra Modi is preparing to address the nation again on Independence Day, following a previous speech last year where he spoke for over 100 minutes at the historic Red Fort in Delhi. During that address, Modi vowed to protect farmers amid ongoing trade tensions with the U.S. This year, he faces new challenges after weekslong youth protests that led to the resignation of the education minister, focusing on job opportunities and inequality.

Meanwhile, Vietnamese President To Lam, who became general secretary of the Communist Party in 2024, continues his diplomatic outreach with visits to Australia and New Zealand. His tour, running from Sunday to Friday, includes an expected meeting with Australian Prime Minister Anthony Albanese. The discussions aim to deepen economic and strategic ties, building on the Vietnam-Australia Comprehensive Strategic Partnership established in 2024.

The trip is set to prioritize cooperation in science and technology, innovation, digital transformation, and resilient supply chains. It will also advance collaboration in energy, infrastructure, food security, trade, investment, and education. Multiple bilateral agreements are expected to be signed with both countries during this visit.

In economic news, the Bank of Japan will release its summary of opinions from its most recent monetary policy meeting held on July 30 and 31. Bank of Japan Governor Kazuo Ueda has highlighted "meaningful upside risks" to inflation. Meanwhile, India's central bank predicts inflation to come in at 5% for the fiscal year through March 2027, with a slowdown expected after the third quarter, remaining within the Reserve Bank of India's tolerance band of 2% to 6%.