The summary provides an overview of key developments in the Indian and global economy from July 7-11, 2014 based on a weekly market report: - In India, industrial production grew at 4.7% in May, the highest in 17 months, and exports rose 7.2% in June, signaling a strengthening economic recovery. The budget focused on infrastructure spending and tax benefits for individuals. - Globally, UK industrial production declined in May while US wholesale inventories and Chinese exports increased. China's inflation rose less than expected. - In the stock market, indices declined 1-7% over the week with corrections in sectors like metals, oil & gas, and realty. Bond yields rose for longer