Indian Prime Minister Narendra Modi delivered a notable Independence Day speech last year, speaking for over 100 minutes at the historic Red Fort in Delhi. During that address, he vowed to protect farmers amid ongoing trade tensions with the U.S. This year, Modi faces renewed challenges following weekslong youth protests that led to the education minister's resignation, as he aims to address growing concerns about job opportunities and inequality.

Meanwhile, Vietnamese President To Lam continues his diplomatic outreach since becoming general secretary of the Communist Party in 2024. His current tour of Australia and New Zealand, running from Sunday to Friday, includes an expected meeting with Australian Prime Minister Anthony Albanese. The discussions are anticipated to focus on deepening economic and strategic ties.

Building on the Vietnam-Australia Comprehensive Strategic Partnership established in 2024, To Lam's visit is expected to prioritize cooperation in science and technology, innovation, digital transformation, and resilient supply chains. Further collaboration is also planned in energy, infrastructure, food security, trade, investment, and education. Multiple bilateral agreements are expected to be signed with both countries during this period.

In economic news, the Bank of Japan is set to release its summary of opinions from its most recent monetary policy meeting held on July 30 and 31. Bank of Japan Governor Kazuo Ueda had previously highlighted "meaningful upside risks" to inflation. Additionally, India's central bank predicted 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%.