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Good morning from the Financial Times.

Today is Friday, July 11th, and this is your FT News briefing.

India is having an IPO boom, and META heads to court next week for an unusual trial.

Plus, the pharmaceutical industry is speeding towards something called a patent cliff.

We'll tell you what that means for the sector.

I'm Mark Filipino, and here's the news you need to start your day.

India now has the world's biggest initial public offering market outside the U.S.

The amount raised in primary

public flotation so far this year hit $6.7 billion, and a few highly anticipated listings

are expected to push India past the $21 billion mark that was raised last year. All this success

comes on the back of India's interest rate cuts and a lot of demand for

equities from domestic investors. But there's a bit of a hang-up. New Delhi has not cut a trade deal

with Washington yet, and U.S. President Donald Trump is threatening the country with more tariffs,

so investors are a bit cautious about calling this a bull market.

...