Avsnitt
-
To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.
This is Nelson John, and I'll bring you the top business and tech stories, let's get started.
šŗšøšØš³ US-China Trade War Escalates
Just hours after the U.S. slapped a 245% tariff on Chinese goods, Beijing signaled a willingness to return to the negotiation table—but with conditions. China demanded an end to hostile rhetoric, clarity on trade policy, and a Trump-backed lead negotiator. Meanwhile, China played its trump card—rare earths—by restricting exports of seven key minerals crucial for U.S. tech and defense sectors. With China controlling 92% of rare earth processing, this move could deepen supply chain disruptions and intensify the trade war.
š NSE Investor Frenzy Signals IPO Readiness
A technical change sparked a boom in NSE’s unlisted share activity. After India’s largest stock exchange activated its ISIN on March 24—cutting share transfer time from months to just one day—its investor base surged from 22,400 to 60,000 in under three weeks. With shares trading between ā¹700 and ā¹2,260 and a market cap of ā¹4 trillion, the IPO buzz is back. Market veterans say: the liquidity’s here, now it’s up to Sebi.
š» Wipro’s Growth Woes Deepen
Wipro reported a second consecutive year of falling revenue, down 2.7% to $10.51 billion, even as profit rose 19%. CEO Srinivas Pallia blamed global uncertainty and cautious client spending, especially in Europe, for the sluggish outlook. The company expects Q1 FY26 revenue to shrink another 1.5–3.5%. Despite large deals and tighter cost control, Wipro’s growth remains elusive. The company added fewer clients, lost some large accounts, and issued no hiring target—a clear sign of caution amid global tech turbulence.
š Isuzu’s Export Engine Powers Ahead
Isuzu Motors India became the top commercial vehicle exporter in FY25, with a 24% jump in exports to 20,312 units. The company’s Sri City plant in Andhra Pradesh has been key to its growth, supplying vehicles across Asia and the Middle East. With global-standard production and recent expansion into engine assembly, Isuzu is scaling up both exports and domestic reach. It recently rolled out its 100,000th vehicle from the plant—a quiet but firm Made-in-India success story.
š¢ļø Oil India Eyes Big Discovery
Oil India is doubling down on exploration. After bagging nine blocks in the OALP-9 round, CMD Ranjit Rath says a major oil and gas find is “only a matter of time.” The company’s acreage has nearly doubled to 110,000 sq. km, with active drilling across Assam, Mahanadi, Rajasthan, and the Andamans. A recent oil presence confirmed in the north bank of the Brahmaputra marks a significant milestone in Upper Assam. With investor confidence rising—shares closed up 3.29%—Oil India is drilling toward a high-stakes payoff. -
This is Nelson John, and I'll bring you the top business and tech stories, let's get started.
1. India’s $4 Billion Tech Design Ambition
India is aiming to move up the electronics value chain with a proposed $4 billion Design-Linked Incentive (DLI) scheme. The goal? To go from “Make in India” to “Design in India.” The scheme will support 30 semiconductor and 30 electronics categories, including Wi-Fi chips, EV components, and smart meters. Incentives will be based on investment and turnover, with a focus on creating patents and IP. This comes as India files only 60,000 patents annually, far behind the U.S. and China, which each cross the one-million mark. As production-linked incentives for mobile phones wind down, this move could mark India’s next leap in tech manufacturing and innovation.
2. Inflation Eases, RBI Shifts Focus to Growth
Retail inflation in March dropped to 3.34%, the lowest since August 2019, thanks to cooling food prices. Food inflation fell sharply to 2.69% from 8.5% a year ago. This dip prompted the Reserve Bank of India to cut the repo rate to 6%, with more cuts expected in June. With 12 states reporting inflation below the national average and cereals inflation at a 33-month low, analysts expect the RBI to focus more on supporting growth.
3. Ericsson’s India Sales Slip as 5G Rollout Slows
Swedish telecom firm Ericsson reported its sixth straight quarterly revenue dip in India, down 28% year-on-year, as major telcos Airtel and Jio near completion of their 5G rollout. However, revenue rose 32% sequentially, thanks to new contracts from Vodafone Idea and Airtel. India remains Ericsson’s second-largest market, though its share of global revenue dropped to 7% from 10%. Globally, Ericsson’s sales rose 3%, and net profit jumped 63%, signaling strength outside India. The company remains confident in its long-term prospects despite the domestic cooldown.
4. IndiGo Becomes World’s Most Valuable Airline
In a landmark moment, IndiGo’s market cap hit $23.45 billion, making it the world’s most valuable airline. That’s higher than Delta, American, or Lufthansa. The airline commands over 60% of India’s domestic market and has proven resilient through multiple industry downturns. Massive aircraft orders placed early have given it an edge amid global supply shortages. The company’s rise is also being seen as a case for privatization—IndiGo has thrived while government-owned airlines have floundered. Still, issues like falling service quality and limited competition loom.
5. Diamond Exports Hit 20-Year Low
India’s diamond and jewellery exports are in a deep slump. Exports of cut and polished diamonds fell 15% in FY25 to ā¹1.12 trillion, the lowest in nearly two decades. Overall gems and jewellery exports dropped 10%, marking the third straight year of decline. The sector has been hit by post-pandemic demand shifts, sanctions on Russian diamond supplies, and now, slowing consumer demand in the U.S. and China. Lab-grown diamonds, which cost a fraction of natural ones, are also undercutting demand. The industry is calling for government support through tax breaks, easier credit, and promotion campaigns to revive growth. -
Saknas det avsnitt?
-
To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddcThis is Nelson John, and I'll bring you the top business and tech stories, let's get started. China Hits Back with Rare Earth Export CurbsIn a powerful response to US tariffs, China has tightened export controls on rare earth mineralsāessential for defense tech, EVs, and smartphones. These new rules require permits for seven key rare earth elements, creating delays that could ripple through global supply chains. With China controlling nearly 90% of global supply and refining, this move hits American giants like Tesla, Lockheed Martin, and Apple. The U.S. has only one rare earth mine, intensifying the urgency to diversify supply chains. As Bloomberg reports, Chinaās message is clear: if Washington plays tariffs, Beijing plays rare earths.Mehul Choksi Arrested in Belgium; India Pushes for ExtraditionFugitive diamond trader Mehul Choksiāaccused in the ā¹14,000-crore PNB scamāhas been arrested in Belgium. Indian agencies, including the CBI and ED, are preparing to travel to Brussels to expedite his extradition. Choksi, who obtained Belgian residency in 2023, is contesting the move on medical and human rights grounds. His lawyer cites poor prison conditions in India and claims the case is political. Belgium has acknowledged Indiaās extradition request, setting the stage for a legal showdown that could mirror past cases like Sanjay Bhandariās.Dr Reddyās Slams Downsizing Rumors Amid Strong Q3 EarningsDr Reddyās Laboratories has denied reports that it plans to cut workforce costs by 25%, calling the claims āfactually incorrect.ā Business Standard had reported that high-paid executives and R&D employees were being asked to resign or take voluntary retirement. However, the pharma major insists no such restructuring is happening. Financially, Dr Reddyās delivered a strong Q3 FY25āprofit after tax rose 2% YoY to ā¹1,413.3 crore, while revenue jumped 16% to ā¹8,358.6 crore. Key growth came from India, Emerging Markets, and the Nicotine Replacement Therapy portfolio. EBITDA hit ā¹2,298.2 crore, reflecting solid business fundamentals.Tata Capital Files for IPO, Only Third Tata Listing in 25 YearsTata Capital is preparing for a long-awaited IPO, marking the Tata Groupās third public listing in a quarter-century, after TCS and Tata Technologies. The move follows an RBI mandate requiring systemically important NBFCs to go public by September 2025. The IPO is expected to raise ā¹15,000āā¹18,000 crore. Once plagued by bad loans and group-level turbulence, Tata Capital has pivoted under Chairman N. Chandrasekaran and CEO Rajiv Sabharwal, growing its loan book to ā¹1.5 trillion. With strong focus on affordable housing and SMEs, the IPO is poised to reshape the NBFC space.OYO Faces FIR Over Alleged ā¹22 Crore Revenue InflationSamskara Resort in Jaipur has filed an FIR against OYO, accusing the travel aggregator of fabricating bookings worth ā¹22.22 crore, which triggered a ā¹2.66 crore GST notice. Madan Jain, associated with the resort, claims OYO backdated and inflated revenues even before their agreement began in April 2019. Actual bookings via OYO reportedly totaled just ā¹10.95 lakh. The FIR names OYO founder Ritesh Agarwal and includes charges of cheating, forgery, and criminal conspiracy. Rajasthanās hotel federation alleges over 20 hotels received similar GST notices, pointing to a broader pattern of grievances against OYO, which is yet to respond.
-
To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.
https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc
This is Nelson John, and I'll bring you the top business and tech stories, let's get started.
Market Holiday Alert
Heads up, traders! Indian stock markets will be closed on April 14 (Ambedkar Jayanti) and April 18 (Good Friday). Plan your trades accordingly.
US-China Trade War Reloaded
The tariff tussle is back on. U.S. Commerce Secretary Howard Lutnick announced new sector-specific tariffs on smartphones, semiconductors, and pharma, likely within a month.
“We can’t rely on China for essentials,” he told ABC News, signaling a push to bring manufacturing home.
This comes after Trump temporarily exempted some Chinese electronics from a 145% retaliatory tariff, a move that briefly helped companies like Apple, which had lost $640 billion in market value.
With fresh tariffs looming, China is urging a rollback, but the tech and pharma trade war may just be heating up again.
Summer Surge: Indians Flock Abroad
India’s scorching summer is sending travelers packing. Outbound travel is up 15–20% year-on-year, say visa providers.
Top destinations: Europe, US, Canada, and Southeast Asia.
“Plan early,” urges VFS Global, as visa demand jumps 11% since 2024.
Peak season might stretch into October, and agencies are leaning on AI to speed up processing.
From leisure to study and work, Indians are going global—and not looking back.
Cleartrip’s Costly Flight Plan
Despite MS Dhoni’s pilot pitch, Cleartrip’s financials hit turbulence.
In FY24, the travel portal spent ā¹988 crore to earn just ā¹97 crore, racking up losses over ā¹800 crore—half of it on discounts.
Flipkart’s 2021 acquisition hasn’t paid off, as rivals like MakeMyTrip and Ixigo fly ahead.
With new growth head Manjari Singhal, Cleartrip is eyeing hotels, corporate travel, and cabs.
But experts say: “Discounts won’t fly forever.” Will Cleartrip course-correct or stay grounded?
Green Card Setback for Indians
The May 2025 US Visa Bulletin brings bad news—EB-5 visas for Indians retrogressed by six months to May 1, 2019, increasing wait times.
Other categories remain stuck:
EB-2: Jan 2013
EB-3: Slight move to April 2013
EB-4: Still unavailable
Blame it on high demand, annual caps, and per-country limits.
Experts advise exploring faster tracks like EB1 or NIW—but for many, the American dream is on pause.
HDFC Bets Big on Small-Town Homes
HDFC Capital is investing ā¹1,500 crore in 18 residential projects with Eldeco Group across Tier-II and III cities.
Targeting markets like Panipat, Ludhiana, Rishikesh, and Kasauli, the platform eyes ā¹11,000 crore in revenue from 10 million sq ft of new housing.
“We’re bullish on towns near metros,” says CEO Vipul Roongta, citing rising infrastructure and housing demand.
Backed by its $4.2 billion housing fund, HDFC is betting that India’s real estate boom is heading beyond the metros. -
This is Nelson John, and I'll bring you the top business and tech stories, let's get started.
Wall Street Reverses Course After Tariff Jitters
Wednesday’s rally? Short-lived. U.S. stock markets nosedived Thursday, giving back most of their gains after optimism over Trump’s temporary tariff pause faded fast. The S&P 500 fell 3.46%, the Dow lost 1,014 points, and the Nasdaq dropped 4.31%, dragged down by a brutal tech sell-off—Tesla plunged 8%, Nvidia and Meta slid 7%, and Apple fell 4%. What triggered the sell-off? A White House clarification revealed that tariffs on Chinese imports will spike to 145%, not 125% as previously suggested. Even a soft inflation report couldn’t soothe investor nerves. Message from the market: relief rallies are fragile, and volatility may be the new normal.
šŗšøš®š³ U.S. Suspends Extra Tariffs on India for 90 Days
In a significant breather for India, the U.S. has suspended additional 26% import duties for 90 days until July 9, after Trump’s sweeping April 2 order targeted over 60 countries. However, a 10% baseline tariff remains. India, which exports 18% of its goods to the U.S., is among the 75 nations engaging with Washington to fix non-reciprocal trade imbalances. China, Hong Kong, and Macau, notably, are excluded from this relief. With global trade reshuffling, India may have gained time—but uncertainty looms beyond July.
š India’s Growth Outlook Slips on Tariff Pressures
Moody’s Analytics has cut India’s 2025 GDP forecast to 6.1%, down from 6.4%, blaming the economic drag from U.S. tariffs. Though Trump paused most hikes temporarily, the blanket 10% duty could still hurt. India’s Q3 GDP came in at 6.2%, but to meet the fiscal target of 6.5%, Q4 would need to clock a steep 7.6% growth. The RBI has responded by cutting interest rates by 25 basis points to 6% and shifting to an “accommodative” stance, with more rate cuts expected. With exports like gems and textiles under pressure, domestic demand may be India’s buffer—but risks are clearly rising.
āļø Byju’s Sued in U.S. Over Missing $533 Million
In a blockbuster lawsuit, Byju’s U.S. finance arm, Alpha Inc., has sued founder Byju Raveendran, his wife Divya, and top executives for allegedly stealing $533 million from a $1.2 billion loan. Filed in Delaware, the lawsuit accuses them of fraud, fund diversion, and blocking creditor access. Byju’s calls it a “nefarious ploy” to seize control and blames GLAS Trust and EY for misleading U.S. courts and sabotaging India’s insolvency process. Meanwhile, Byju’s has filed its own FIR in India, accusing GLAS, EY, and former resolution professionals of bribery and conspiracy. Once a startup poster child, Byju’s now finds itself in the eye of a global financial storm.
š Kohli’s Next Move: From Puma to Homegrown Agilitas
Virat Kohli is stepping up his entrepreneurial game. With his ā¹110 crore deal with Puma ending, Kohli is joining Indian sportswear startup Agilitas as investor and brand ambassador. Founded by former Puma India MD Abhishek Ganguly, Agilitas will now scale Kohli’s lifestyle brand One8 in India and globally. The official reveal is expected during the IPL season. Backed by ā¹530 crore from Convergent Finance and Nexus Ventures, Agilitas also owns Lotto India and shoemaker Mochiko, signaling serious ambitions to challenge global giants. For Kohli, this isn’t just another endorsement—it’s a brand-building innings. -
This is Nelson John, and I'll bring you the top business and tech stories, let's get started.
ļ»æš Global Trade Truce — Or Just a Timeout?
In a dramatic turn, US President Donald Trump announced a 90-day pause on new tariffs and rolled back the “reciprocal tariff” rate to 10% for most non-China trade partners. “No other president would’ve done what I did,” Trump declared, defending his hardline strategy that’s rocked global markets.
But China wasn’t spared — tariffs on Beijing were jacked up to 125%, with Trump accusing China of “disrespecting” world markets. China retaliated swiftly, slapping 84% tariffs on US goods. The EU and Canada also joined the tit-for-tat, announcing new levies.
Markets cheered the truce — or at least the pause. Wall Street roared:
• S&P 500 jumped 9.5%
• Nasdaq surged 12%
• Dow climbed nearly 3,000 points
Over 30 billion shares changed hands, making it the busiest trading day ever. Still, with talks expected to drag and China still targeted, this could just be the eye of the storm.
š¦ RBI Cuts Rates as Growth Wobbles
Amid the global chaos, the Reserve Bank of India cut the repo rate by 25 bps to 6%, the second such move this year. More notably, it shifted its policy stance to “accommodative”, signaling further support if the economy slows.
RBI Governor Sanjay Malhotra warned of mounting uncertainties, with India’s FY26 growth forecast cut to 6.5% from 6.7%.
Why now? Trump’s tariff war threatens global demand. While India’s inflation is cooling (below 4%), the rupee faces pressure as China devalues the yuan, risking India’s export competitiveness. Oil prices have dropped to $60 per barrel, but a currency war could be next. RBI’s “managed float” strategy may soon be tested like never before.
š BlackRock Bets Big on Adani
In a bold endorsement, BlackRock — the world’s largest asset manager — picked up nearly one-third of a $1 billion bond issue by Adani Group’s promoter firm, Renew Exim.
Despite a lingering US bribery case involving Adani promoters, BlackRock’s entry signals investor confidence. Most of the proceeds will fund Adani’s ā¹5,000 crore acquisition of ITD Cementation, with the rest going toward a ā¹5 trillion capex spree across green energy, ports, airports, and more.
On Wednesday, Adani closed its open offer for ITD, acquiring 21% from the public. Post-deal, Renew Exim will control 67.45% of the company.
Meanwhile, Adani Green Energy refinanced $1 billion in debt — its first major capital move since the DoJ allegations, proving the group is not just navigating headwinds but accelerating through them.
ā” JSW Powers Up with O2 Deal
JSW Neo Energy, a subsidiary of JSW Energy, has completed its largest-ever green acquisition, buying O2 Power for ā¹12,468 crore.
Backed by EQT (51%) and Temasek (49%), O2 Power brings 4.7 GW of renewable capacity, including 1.3 GW of operational assets and a robust project pipeline.
This deal takes JSW’s total installed capacity to 12.2 GW, with renewables now forming 54%. CEO Sharad Mahendra said this move puts them “significantly ahead” of their 2030 targets.
O2’s portfolio includes 3,722 MW tied up under high-credit PPAs, with another 974 MW awaiting contracts. JSW expects strong operational synergies and a solid value payoff from the acquisition.
š Market Holiday
A reminder: Indian stock markets are closed today, April 10, for Mahavir Jayanti. Trading resumes tomorrow. -
This is Nelson John, and I'll bring you the top business and tech stories, let's get started.
US-China Tariff War Escalates
The US-China trade tensions hit a boiling point as the White House confirmed a 104% tariff on Chinese imports, effective April 9. While President Trump says he’s “waiting for China’s call,” Beijing isn’t backing down, calling the move “blackmail.” Global markets, oddly, bounced back slightly on hopes of negotiations—but signs of a resolution remain slim.
Apple’s Satcom Partner Eyes India
Globalstar, the satellite partner behind Apple’s emergency SOS feature, has applied to enter India’s growing satellite market. With just 31 satellites compared to Starlink’s 7,000+, Globalstar is eyeing a niche play. But competition is heating up, with players like Jio, OneWeb, and Amazon Kuiper racing for spectrum. India’s satcom sector could grow nearly 10x by 2028.
BoAt Sets Sail for IPO—Again
India’s popular wearables brand BoAt is gearing up for a ā¹2,000 crore IPO. After shelving its 2022 plans, the company has confidentially filed papers under SEBI’s revised norms. The issue includes a ā¹900 crore fresh issue and ā¹1,100 crore offer-for-sale. Proceeds will fund R&D, product upgrades, and debt reduction—potentially making this one of the year’s most anticipated listings.
India’s Big Shipbuilding Ambition
India is charting a new course in shipbuilding, teaming up with South Korea’s Hyundai and Japan’s Mitsui. Cochin Shipyard is close to sealing a deal for a new Kochi facility, with land provided by the government. The goal? Boost India’s share in the $100 billion global shipbuilding market from less than 1% to a top-5 position by 2047, backed by a ā¹25,000 crore Maritime Development Fund.
Apollo Hospitals Bets Big on NCD Care
Apollo Hospitals is investing ā¹6,000 crore to expand its urban footprint and fight India’s rising tide of non-communicable diseases (NCDs). The two-phase plan will add 3,500 beds across cities like Pune, Mumbai, and Chennai. Apollo’s “Health of the Nation” report reveals 27% of 2.5 million screened individuals had multiple NCD risk factors. The healthcare giant is pushing for nationwide screening and preventive school health programs. -
MARKET SHOCK: MONDAY MELTDOWN, BUT A POSSIBLE REBOUND
India’s stock markets suffered their worst single-day fall in 10 months, with the Sensex plunging nearly 3%—opening 4,000 points lower—after Donald Trump’s tariff threats sent global investors into panic mode. Midcap and smallcap indices dropped even more, down 3.5% and 3.8%. Despite the turmoil, experts say this isn’t an India-specific issue. “Today’s correction is more global panic than India-specific,” noted Finavenue’s Abhishek Jaiswal. Historically, such sharp corrections are often followed by strong rebounds. Meanwhile, the rupee stayed largely stable, slipping only 0.47%, and India’s markets are still outperforming peers like Japan, Hong Kong, and the US.
UP POLITICIAN ARRESTED IN MASSIVE ā¹750 CR BANK FRAUD
Vinay Shankar Tiwari, son of late UP strongman Hari Shankar Tiwari, was arrested in a ā¹750 crore bank fraud case. The ED claims he diverted funds from a ā¹1,129 crore loan taken by Gangotri Enterprises, where he was a promoter. After ignoring multiple summons, Tiwari was picked up from Lucknow following raids across five cities. Over ā¹100 crore in assets have been seized. The case stems from a CBI FIR filed after complaints from the Bank of India-led lending consortium. Tiwari, once elected on a BSP ticket and later with the Samajwadi Party, is now at the heart of one of UP’s largest banking scandals.
TRUMP TARIFFS COULD SHRINK INDIA’S US EXPORTS BY $5.76 BILLION
India’s booming exports to the US face a serious threat under Donald Trump’s revived “America First” agenda. According to the Global Trade Research Initiative, new tariffs could slash India’s exports by over 6% in 2025. High-impact sectors include gems and jewellery, electronics, auto parts, and seafood. Of the $89.8 billion India exported to the US last year, $67.2 billion will now face a steep 26% duty—up from lower MFN rates. While some industries may benefit from Chinese penalties, many others face steep losses. India’s government is maintaining a cautious stance, avoiding retaliatory tariffs for now.
LPG PRICES UP ā¹50; PETROL, DIESEL EXCISE HIKED
Households will pay more for cooking gas starting Tuesday, April 8, with LPG cylinder prices hiked by ā¹50. Under the Ujjwala scheme, subsidized cylinders will now cost ā¹550; others will pay ā¹853. The government also raised excise duty on petrol and diesel by ā¹2 per litre but clarified that pump prices will remain unchanged for now, thanks to falling global crude prices. “The price hike will be reviewed,” said Oil Minister Hardeep Singh Puri, noting the move will help recover ā¹43,000 crore in losses incurred by oil companies due to previous subsidies.
PRESTIGE HOSPITALITY GEARS UP FOR ā¹2,500 CR IPO
Prestige Hospitality Ventures, a subsidiary of real estate major Prestige Group, is preparing to go public to raise ā¹2,000–2,500 crore. The company is expected to file its draft IPO papers with SEBI in the next two weeks. The funds will be used to expand its hotel portfolio and reduce debt. The firm currently operates eight hotels (1,477 keys) and has 15 more in the pipeline, including high-end properties in Delhi Aerocity, Mumbai, Goa, and more. With travel demand rising and partnerships like Marriott in place, the IPO aims to tap into India’s fast-growing hospitality market. Prestige joins a wave of hotel IPOs including Samhi Hotels, Juniper Hotels, and Ventive Hospitality, as the sector rides a post-pandemic growth wave. -
To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.
https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc
This is Nelson John, and I'll bring you the top business and tech stories, let's get started.
Last week, the Indian stock market hit the brakes—and hard.
The Sensex plunged over 2,000 points, Nifty dropped more than 600, wiping out a two-week rally. The trigger? Donald Trump’s tariff hike announcement rattled global markets, sending IT and metal stocks into a tailspin—down 7–9%. Banks and FMCG held steady, but foreign investors flipped to sellers, deepening the slide. This week is crucial. The RBI’s monetary policy meet on April 9, along with IIP and CPI data, will set the tone. TCS kicks off Q4 earnings on April 10, adding to the market’s watchlist. Technically, Nifty’s support sits at 22,600—if that breaks, 22,100 could be next. Bank Nifty is showing some strength and might just be the market’s silver lining.
Meanwhile, Skoda Auto Volkswagen India is in hot water over a ā¹11,526 crore tax dispute.
India’s customs department claims Skoda misclassified imported parts as something other than Completely Knocked Down (CKD) kits between 2012 and 2024—costing the exchequer big. Skoda disagrees and has taken the matter to the Bombay High Court. But customs officials say the automaker delayed proceedings by not submitting critical documents—even after repeated requests. A past probe also found Skoda concealed 31 agreements with foreign affiliates. The court has yet to rule, but the government wants adjudication to begin—immediately.
India’s PM E-Drive scheme for electric trucks? Still stuck in neutral.
One year in, not a single rupee of the ā¹500 crore fund has been used. No trucks subsidized. No localization rules issued. The scheme, meant to boost clean logistics, is now looking to steel, cement, ports, and logistics sectors to revive demand. But without a clear Phased Manufacturing Programme (PMP), truckmakers are stuck. They say they need 18 months once rules are notified—but the clock’s ticking. The scheme ends FY26. Still, the market is moving quietly—over 6,000 electric goods carriers were sold in 2024, up from 2,600 in 2023. Chinese major BYD is leading the charge, but with ā¹150 crore unused this fiscal, the government’s got work to do—and fast.
Premium Indian whiskies might just dodge the U.S. tariff bullet.
A fresh 26% duty hike on Indian liquor exports is worrying—but top-shelf single malts are holding their own. “Even a 30% hike won’t shake premium buyers,” says Radico Khaitan’s Amar Sinha. Last year, Indian alcohol exports to the U.S. surged nearly 50% to $10.5 million. The high margins and lifestyle positioning of premium whiskies are helping absorb the blow. But the pain is real for small and mid-sized distillers, especially in low-duty categories like ethyl alcohol. Industry leaders are pushing both governments to strike a balance before long-term growth is jeopardized.
And finally, Wipro is going all-in on AI—guided by a new face.
Ali Wasti, a veteran deep-tech investor, has joined Wipro Ventures as co-managing partner. He replaces retiring co-founder Venu Pemmaraju. Wasti previously led investments at HPE’s Pathfinder Ventures and brings deep AI and cybersecurity chops. Wipro just topped up its $500 million venture fund with another $200 million, aiming to back startups whose tech can be integrated into Wipro’s services. With 37 portfolio companies—mostly U.S.-based—Wipro is now eyeing AI-powered enterprise solutions as the next frontier. In today’s IT landscape, this isn’t just strategy—it’s survival. -
To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.
https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc
This is Nelson John, and I'll bring you the top business and tech stories, let's get started.
Trump’s Tariffs Shake Global Trade, But India Stays Steady
Donald Trump’s sweeping new tariffs—10% on all imports and 27% on Indian goods—sent global markets into a tailspin, yet India’s markets showed resilience. While Japan’s Nikkei plunged nearly 3% and Hong Kong’s Hang Seng fell 1.5%, India’s Sensex and Nifty 50 barely flinched. Analysts say India’s competitive edge remains intact, though foreign investors pulled ā¹2,806 crore from stocks. Meanwhile, gold prices surged as investors sought safe havens amid U.S. economic concerns. With central banks increasing gold reserves, the move signals deeper worries about the dollar’s stability.
India’s Fuel Trade With the U.S. Faces New Challenges
The 27% tariff on Indian imports is set to disrupt India’s $6 billion petroleum trade with the U.S., particularly in refined fuels like gasoline. As Western nations cut Russian oil post-Ukraine war, India became a major supplier—but the new tariff threatens that role. Despite a 3.7% rise in export volume, revenue dropped 7% to $40.4 billion this fiscal year. Private refiners like Reliance and Nayara Energy are expected to take a hit. India is unlikely to retaliate with counter-tariffs, as that would raise domestic crude and LNG prices. Instead, officials are considering boosting imports of U.S. WTI crude to maintain trade ties.
India’s Pharma Industry Wins Tariff Exemption
Amid Trump’s tariff spree, Indian pharmaceuticals emerged unscathed. The U.S. exempted the sector, recognizing its role in providing affordable medicines worldwide. India supplies 40% of the U.S.’s generic drugs, saving the American healthcare system $219 billion in 2022 alone. With exports worth $8.7 billion to the U.S. and imports of just $800 million, the exemption benefits both nations. However, legal experts warn of potential future scrutiny under Section 232, which assesses imports based on national security concerns. For now, the exemption reinforces India’s status as the “pharmacy of the world,” opening opportunities for biosimilars and domestic API production.
BMW India’s EV Sales Soar Despite Industry Caution
BMW India defied concerns over slow EV adoption, reporting a threefold surge in electric vehicle sales in Q1 2024. EVs accounted for 17% of its total sales (3,914 units), with overall sales growing 7% year-on-year. While Tata Motors and Maruti Suzuki remain cautious about EV adoption due to infrastructure challenges, BMW sees strong demand even in smaller cities. The company’s latest EV, the BMW iX1 Long Wheelbase, launched at Auto Expo 2024, has already secured 1,500 bookings. However, the auto industry faces headwinds from Trump’s 25% tariff on auto imports, prompting manufacturers to refocus on internal combustion engines (ICE) amid policy uncertainty.
Dusit International Returns to India With a Bold Expansion Plan
After exiting in 2017, Thailand’s Dusit International is making a comeback in India with plans to sign 30 hotels and 3,000 rooms in three years. “This time, we’re getting it right,” says Siradej Donavanik, VP of Global Hotel Development. The company is targeting tier-II and III cities while maintaining a presence in metros. Led by industry veteran Deepika Arora, Dusit’s expansion includes luxury and upper-midscale brands, with upcoming hotels in Raipur, Bhiwadi, Kolkata, Lonavala, Kasol, and Manali. As India’s luxury travel market surges toward a projected $410 billion by 2030, Dusit sees a prime opportunity to establish a strong foothold. -
To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.
https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc
This is Nelson John, and I'll bring you the top business and tech stories, let's get started.
Harvard in Trump’s Crosshairs
Harvard is the latest Ivy League school facing Trump’s crackdown on alleged campus antisemitism. On Monday, the White House launched a review of its $9 billion in federal funding—weeks after stripping Columbia University of $400 million. Harvard’s new president, Alan Garber, has acted swiftly: dismissing Middle Eastern Studies leaders, cutting ties with a West Bank university, and reinforcing academic diversity guidelines. Critics say it’s not enough. Former Harvard President Larry Summers accused the school of ignoring Israeli perspectives, while faculty worry Garber is caving to political pressure. Princeton, too, is caught in the crossfire, with Trump pausing dozens of its research grants. Princeton’s president calls it “the greatest threat to American universities since the Red Scare.” Garber warns that losing federal funds could cripple research, but with Trump’s task force investigating multiple institutions, the battle is far from over.
India Eyes Bigger Green Bond Target
India is considering increasing its ā¹25,342 crore sovereign green bond issuance for FY26, riding on investor interest. Green bonds, which fund renewable energy and climate projects, currently see a 2-3 basis point premium (“greenium”) over regular bonds in India, lower than the 3-8 points seen in developed markets. Officials expect higher returns this year amid global shifts towards sustainable finance. However, if investor demand falls short, the government may scale back. Since 2022, India has issued ā¹58,000 crore in green bonds to support its 500 GW non-fossil fuel energy target by 2030. The coming months will determine investor appetite and the country’s green finance trajectory.
Manufacturing Rebounds, But Trade Risks Loom
India’s manufacturing sector rebounded in March, with the HSBC PMI hitting 58.1—its highest in eight months—driven by surging new orders. Strong demand and marketing efforts fueled the recovery, but concerns over potential US tariffs linger. President Trump is set to announce new trade measures on April 2, raising fears of weakened exports. A 20% tariff hike could shave 0.4% off India’s GDP, according to Capital Economics. Inflation is also rising, with higher costs for copper, electronics, and rubber. The RBI, meeting April 7-9, may cut rates to support growth, but with Q4 GDP tracking at 6.7%, below its 6.5% target, economic uncertainty remains.
IPL Drives Food Delivery Boom
The IPL season is fueling a surge in food orders, with fast-food chains cashing in. Domino’s sees no sign of demand slowing, doubling down on promotions like its six-in-one pizza. Streaming and TV viewership are soaring—JioHotstar reported a 40% spike in digital engagement, while TV audiences hit 253 million in the first three matches. Rebel Foods, which runs Wendy’s and Oven Story, increased marketing spend by 10-20%, banking on the cricket frenzy. Last year, IPL-driven sales jumped 60-70%, and brands expect another blockbuster season despite broader economic concerns. -
To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.
https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc
This is Nelson John, and I'll bring you the top business and tech stories, let's get started.
Zepto Bets Big on Cold Chain for Fresh Produce
Quick commerce is fast, but fresh produce needs better logistics. Zepto is doubling down on cold chain infrastructure to improve margins and quality. CEO Aadit Palicha is actively seeking cold supply chain experts to enhance operations. The company has partnered with Transport Corporation of India to expand storage in the South. Fruits and vegetables account for 8-10% of quick commerce sales but face 15% wastage due to India’s fragmented cold chain. The market is projected to grow from $14.5 billion (2023) to $53 billion (2032). Zepto’s private-label meat brand, Relish, leveraged cold logistics to hit ā¹150 crore ARR in six months.
Zomato Lays Off 600 Employees Amid Automation Push
Zomato has reportedly laid off 600 customer support employees in a bid to cut costs as growth slows. The layoffs follow AI-driven automation in customer service and financial pressures at its quick commerce arm, Blinkit. Employees claim they were dismissed without notice periods or clear explanations, while Zomato cites performance issues. On Reddit, ex-employees shared grievances, with one alleging termination for being late by 28 minutes over three months. Despite the layoffs, Zomato’s stock closed 0.84% higher at ā¹203.20.
Aditya Birla Exits Paper Business, Sells to ITC for ā¹3,500 Crore
Aditya Birla Real Estate Ltd (ABREL) is exiting the paper sector, selling Century Pulp and Paper to ITC Ltd for ā¹3,500 crore. The deal surpassed estimates, with Nomura valuing it at 18x EV/EBITDA for FY25. ABREL’s paper segment has struggled, with revenue falling 5.5% YoY in FY24 and margins shrinking by 410 basis points. The sale will help reduce net debt (ā¹4,300 crore) to near-zero, boosting ABREL’s real estate expansion. However, significant cash flow from projects like Niyaara will only materialize from FY27 onwards. ABREL’s stock is down 21% in 2025, and investors await Q4 results and the Niyaara Phase 3 launch in FY26.
CAG Report Flags Revenue Losses, Weak Oversight in Telecom & Digital Infra
The Comptroller and Auditor General (CAG) has raised alarms over governance failures in telecom, electronics, and postal services:
• Telecom: The Department of Telecommunications (DoT) failed to recover ā¹2,463.67 crore from telcos due to delayed audits. BSNL lost ā¹1,757.76 crore by failing to bill Reliance Jio for technology use.
• Electronics Manufacturing: Under M-SIPS, only ā¹2,136 crore was disbursed from ā¹36,991 crore in committed investments, causing policy instability for investors.
• Digital Infrastructure: The ā¹6,548-crore National Knowledge Network for research institutions was flagged for poor bandwidth utilization and cybersecurity gaps.
• Postal Services: GST mismanagement and irregular promotions resulted in ā¹17.22 crore in tax losses.
The findings expose execution flaws in India’s push for digital self-reliance.
Shapoorji Pallonji Faces Insolvency Plea Over Unpaid ā¹2.72 Crore
The National Company Law Tribunal (NCLT)-Mumbai has issued a notice to Shapoorji Pallonji & Co. Pvt. Ltd (SPCPL) over an insolvency plea filed by Chennai-based Intertouch Metal Buildings Pvt. Ltd. The roofing firm alleges unpaid dues for work on Port Blair’s Veer Savarkar International Airport. SPCPL must respond within seven days, with the next hearing on April 24.
This isn’t SPCPL’s first insolvency dispute. In October 2024, NCLT dismissed a similar plea by KBC Infrastructure, ruling that insolvency laws cannot be used as a debt recovery tool.
As legal proceedings unfold, all eyes are on Shapoorji Pallonji’s response and whether the case progresses to full-fledged insolvency. -
To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.
https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc
This is Nelson John, and I'll bring you the top business and tech stories, let's get started.
Stock Market Under Pressure
Indian markets may open nearly 1% lower after the Eid holiday as global trade tensions resurface. Investors are wary of US President Donald Trump’s April 2 tariff deadline, which triggered sell-offs in Asian and European markets. Nifty 50 faces key support at 23,263 and resistance at 23,737, with analysts predicting volatility ahead. Meanwhile, concerns over a potential US recession (35% probability per Goldman Sachs) and FPI outflows are adding to uncertainty.
IGL’s Solar Bet
Indraprastha Gas Ltd (IGL) is entering renewables through a ā¹2,066 crore joint venture with Rajasthan Vidyut Utpadan Nigam Ltd (RVUNL) to develop a 500 MWp solar project in Bikaner. With IGL holding a 74% stake, the project aligns with its ambition to build a 1 GW green energy portfolio within four years. The company, known for city gas distribution, is now expanding beyond Delhi into Uttar Pradesh, Haryana, and Rajasthan.
Vodafone Idea’s Lifeline
Vodafone Idea (Vi) received a major boost as the government converted ā¹36,950 crore of spectrum dues into equity, reducing its statutory burden by 66% over three years. This frees up ā¹40,000 crore in cash flow, easing Vi’s liquidity crisis as it seeks ā¹25,000 crore in bank funding. However, long-term challenges remain, with annual payments of ā¹43,000 crore due between FY28-31. Without tariff hikes, Vi could require further government intervention, potentially making it a public-sector telecom operator.
SEBI Cracks Down on Finfluencers
India’s market regulator SEBI is tightening oversight of financial influencers, especially those registered with AMFI, as part of a broader crackdown on misinformation. With help from Meta and Google, SEBI has removed 70,000 unregistered digital financial advisors. The issue is pressing—82% of social media-driven investors act on influencer advice, yet only 2% of these influencers are SEBI-registered. SEBI is exploring ways to increase the number of registered investment advisors while experts push for stricter monitoring of financial content.
Telecom Expansion Faces Roadblocks
Telecom firms warn of service disruptions as 13 states, including Karnataka, Tamil Nadu, and Kerala, have yet to implement the Centre’s 2024 Right of Way (RoW) rules. High municipal fees, multiple approval layers, and delays in clearances are stalling 4G and 5G rollouts. The Department of Telecommunications (DoT) is pushing for compliance, with a centralized RoW portal expected soon. The Cellular Operators Association of India (COAI) is urging swift action to prevent network congestion.
These developments highlight India’s evolving business landscape, with markets bracing for volatility, industries pivoting to new opportunities, and regulatory shifts shaping the investment and telecom sectors. -
To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.
https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc
This is Nelson John, and I'll bring you the top business and tech stories, let's get started.
Jubilant FoodWorks Bets Big on Tech & Expansion
Jubilant FoodWorks is ramping up its Domino’s India expansion from 2,000 to 3,000 stores, backed by Elate, an in-house Android-based POS system aimed at improving efficiency across its brands (Domino’s, Popeyes, Dunkin’, Hong’s Kitchen). CEO Sameer Khetarpal promises tech upgrades every six months, integrating AI into store management. The company is also pushing for faster deliveries, with 70% already happening in under 20 minutes and a new guaranteed 20-minute service coming to India’s top seven cities. However, dine-in sales remain sluggish as free delivery drives online orders.
Meta’s Project Waterworth: Building the World’s Longest Undersea Cable
Meta is advancing Project Waterworth, a 50,000-km undersea cable connecting India, the US, Brazil, South Africa, and more. The aim? Faster internet and AI-driven applications across platforms like Instagram, WhatsApp, and YouTube. Meta is in talks with Airtel, Jio, Tata Communications, and Lightstorm for landing the cable in India, navigating regulatory hurdles. With 95% of global data flowing through subsea cables, this move enhances India’s digital backbone while reducing dependence on geopolitically sensitive routes like the Red Sea and South China Sea.
Indegene Expands AI-Driven Pharma Solutions in the US & Europe
Bangalore-based Indegene is capitalizing on AI in pharma commercialization and regulation, particularly in the US and Europe, where it derives 64% of its revenue. With US pharma firms under pricing pressure, CEO Manish Gupta sees a major opportunity: “Pricing and market access are critical, and our AI-driven solutions can help.” The company has launched Cortex, an AI-powered platform, and is expanding in Europe, with a London center, an Ireland acquisition, and a move into Spain. Since 2010, Indegene has grown from ā¹33 crore to ā¹2,500 crore and is poised for further scale.
Global Investors Shift from US Stocks Amid Tariff Uncertainty
Investors are pulling billions from US stocks, redirecting funds to Europe, Asia, and emerging markets due to concerns over US tariff policies. In March alone, European investors withdrew $2.37 billion from US equity ETFs. April 2, Trump’s “Liberation Day” tariff plan, threatens new trade tensions, prompting 15 of the world’s largest asset managers to reduce US exposure. Goldman Sachs & Barclays have already cut their S&P 500 forecasts for 2025. While some analysts argue US stocks remain attractive, foreign outflows may weaken market performance.
Lollapalooza India Booms Despite Industry Challenges
The third edition of Lollapalooza India attracted 60,000+ fans with Green Day, Shawn Mendes, and others. While ticket sales hit records, India’s live entertainment infrastructure remains weak, lacking dedicated concert venues. “We have to build everything from the ground up,” says Anil Makhija, COO of BookMyShow Live. Diljit Dosanjh’s criticism of India’s concert ecosystem further highlights these issues. High taxes and ticket resale controversies (e.g., Coldplay’s Mumbai show) also pose challenges. Despite this, India’s live music market is growing fast, with global artists increasingly making India a tour stop. BookMyShow is pushing for policy changes, better infrastructure, and new festivals like Bandland. “Fans are ready. Artists are ready. Now, the ecosystem needs to catch up,” says Makhija. -
To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.
https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc
This is Nelson John, and I'll bring you the top business and tech stories, let's get started.
State Revenue Deficit Grants Shrink
India’s states are receiving far less in revenue deficit grants from the Centre—plummeting from ā¹1.18 lakh crore in 2021-22 to ā¹24,483 crore in 2024-25, with further cuts expected next year. The 15th Finance Commission aims to push states toward financial self-reliance. While overall central transfers to states have crossed ā¹9.89 lakh crore in FY25, direct revenue support has dwindled. Strong state tax revenue growth (11.1% in H1 FY25) is helping, but fiscal deficits remain near the 3% threshold. The big question: Can states sustain financial discipline without heavy central backing?
Samsung Hit with $601M Tax Demand
Samsung Electronics faces a $601 million tax demand from Indian authorities over alleged tariff evasion on telecom equipment imports. Officials claim Samsung misclassified “Remote Radio Heads” (RRH) to avoid 10-20% duties. The Directorate of Revenue Intelligence (DRI) launched a probe in 2021, revealing Samsung imported $784 million worth of RRHs duty-free between 2018 and 2021. Samsung denies wrongdoing and is exploring legal options. This case is part of India’s broader scrutiny of foreign firms’ import practices—Volkswagen is also under investigation for a hefty back-tax demand.
Gold Rally Keeps SGB Investors from Cashing Out
Gold prices are soaring, but investors in Sovereign Gold Bonds (SGBs) aren’t redeeming. Despite 14.7 tonnes being eligible for early exit, only 0.5 tonnes have been encashed, as many expect prices to touch ā¹1 lakh per 10 gm amid geopolitical tensions. SGBs, introduced in 2015, offer an 8-year tenure with early exit after five years. Those who invested in 2017-18 at ā¹2,951 per gm are now sitting on a 14.7% annualized return, outpacing Nifty’s 13.4%. Some experts advise locking in gains and shifting to fixed deposits yielding 7-8%. Meanwhile, gold ETFs are gaining traction, with assets nearly doubling in a year.
Wipro GE Healthcare Bets Big on Local Manufacturing
Wipro GE Healthcare has launched a $1 billion investment plan to boost local manufacturing, aiming to produce 70% of its products in India by 2030, up from 40-45% today. The company exports medical devices to 70 countries, with the US and Europe as key markets. While US reciprocal tariffs on Indian medtech are a concern, Wipro GE remains confident, citing its diversified supply chain. The investment will expand R&D, manufacturing capacity, and add a new facility to its four existing plants in Karnataka. With India’s medtech sector projected to grow 20-23% annually, Wipro GE is positioning itself for a surge in demand.
Indian Defence Stocks Poised for a Rebound?
Indian defence stocks have slumped in the recent market sell-off, but analysts see a turnaround as US-India defence ties deepen. During Trump’s first term, India gained license-free access to critical US military tech. While a second Trump presidency may initially prioritize US defence exports over Indian collaboration, long-term prospects remain strong. The US-India joint statement in February outlined plans for a 10-year defence partnership, co-production agreements, and an industry alliance for autonomous systems. Meanwhile, India’s own defence push is accelerating, with ā¹54,000 crore in fresh military acquisitions and a ā¹50,000 crore annual defence export target by 2029. However, analysts caution that some stocks remain overvalued, and investors should adopt a selective approach. -
To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.
https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc
This is Nelson John, and I'll bring you the top business and tech stories, let's get started.
State Revenue Deficit Grants Shrink
India’s states are receiving far less in revenue deficit grants from the Centre—plummeting from ā¹1.18 lakh crore in 2021-22 to ā¹24,483 crore in 2024-25, with further cuts expected next year. The 15th Finance Commission aims to push states toward financial self-reliance. While overall central transfers to states have crossed ā¹9.89 lakh crore in FY25, direct revenue support has dwindled. Strong state tax revenue growth (11.1% in H1 FY25) is helping, but fiscal deficits remain near the 3% threshold. The big question: Can states sustain financial discipline without heavy central backing?
Samsung Hit with $601M Tax Demand
Samsung Electronics faces a $601 million tax demand from Indian authorities over alleged tariff evasion on telecom equipment imports. Officials claim Samsung misclassified “Remote Radio Heads” (RRH) to avoid 10-20% duties. The Directorate of Revenue Intelligence (DRI) launched a probe in 2021, revealing Samsung imported $784 million worth of RRHs duty-free between 2018 and 2021. Samsung denies wrongdoing and is exploring legal options. This case is part of India’s broader scrutiny of foreign firms’ import practices—Volkswagen is also under investigation for a hefty back-tax demand.
Gold Rally Keeps SGB Investors from Cashing Out
Gold prices are soaring, but investors in Sovereign Gold Bonds (SGBs) aren’t redeeming. Despite 14.7 tonnes being eligible for early exit, only 0.5 tonnes have been encashed, as many expect prices to touch ā¹1 lakh per 10 gm amid geopolitical tensions. SGBs, introduced in 2015, offer an 8-year tenure with early exit after five years. Those who invested in 2017-18 at ā¹2,951 per gm are now sitting on a 14.7% annualized return, outpacing Nifty’s 13.4%. Some experts advise locking in gains and shifting to fixed deposits yielding 7-8%. Meanwhile, gold ETFs are gaining traction, with assets nearly doubling in a year.
Wipro GE Healthcare Bets Big on Local Manufacturing
Wipro GE Healthcare has launched a $1 billion investment plan to boost local manufacturing, aiming to produce 70% of its products in India by 2030, up from 40-45% today. The company exports medical devices to 70 countries, with the US and Europe as key markets. While US reciprocal tariffs on Indian medtech are a concern, Wipro GE remains confident, citing its diversified supply chain. The investment will expand R&D, manufacturing capacity, and add a new facility to its four existing plants in Karnataka. With India’s medtech sector projected to grow 20-23% annually, Wipro GE is positioning itself for a surge in demand.
Indian Defence Stocks Poised for a Rebound?
Indian defence stocks have slumped in the recent market sell-off, but analysts see a turnaround as US-India defence ties deepen. During Trump’s first term, India gained license-free access to critical US military tech. While a second Trump presidency may initially prioritize US defence exports over Indian collaboration, long-term prospects remain strong. The US-India joint statement in February outlined plans for a 10-year defence partnership, co-production agreements, and an industry alliance for autonomous systems. Meanwhile, India’s own defence push is accelerating, with ā¹54,000 crore in fresh military acquisitions and a ā¹50,000 crore annual defence export target by 2029. However, analysts caution that some stocks remain overvalued, and investors should adopt a selective approach. -
To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.
https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc
This is Nelson John, and I'll bring you the top business and tech stories, let's get started.
Markets Rally as Nifty Erases Losses
Just weeks ago, Nifty was deep in the red. Now, it’s wiped out its losses for the year, riding a six-day rally that has made India one of the world’s best-performing markets this month. On Monday, Nifty surged 1.32% to 23,658, while Sensex rose 1.4% to 77,984. HDFC Bank, Reliance, SBI, and ICICI Bank led the charge. “The correction’s done—we could be heading toward record highs,” says veteran investor Ramesh Damani. Foreign investors are returning, pumping in over ā¹8,000 crore in two days. However, some experts remain cautious, citing global trade tensions and volatility.
Sebi Eases Investment Rules, Boosts Transparency
India’s market regulator, Sebi, has revamped investment rules, doubling the disclosure threshold for foreign investors from ā¹25,000 crore to ā¹50,000 crore, allowing alternative investment funds to take more risks, and easing fee collection restrictions for advisors. The move, led by new chairman Tuhin Kanta Pandey, gives investors greater flexibility while maintaining oversight. Sebi has also set up a high-level committee to address conflicts of interest and strengthen governance, signaling a push for a more transparent and investor-friendly market.
Quick Commerce Becomes a Lifeline for Consumer Brands
For early-stage consumer brands, quick commerce is no longer just an add-on—it’s becoming their biggest sales channel. Startups like Sweet Karam Coffee and Wholsum Foods (Slurrp Farm) are restructuring supply chains to meet Blinkit, Zepto, and Instamart’s rapid delivery demands. Sweet Karam Coffee, for instance, shifted to regional hubs, leading to a sixfold revenue surge, with 50% of sales now coming from quick commerce. Investors like Fireside Ventures see this as their fastest-growing segment. However, challenges such as high marketing costs, limited shelf space, and operational complexities could threaten long-term profitability.
Car Insurance Discounts Come at a Hidden Cost
The car insurance market has transformed into a game of deep discounts and costly add-ons. Insurers lure customers with up to 80% premium cuts but recover profits by charging separately for essentials like zero depreciation, roadside assistance, and preferred garages. Some policies, especially for commercial vehicles, are issued at 95-99% discounts, distorting true pricing. While insurers claim add-ons offer flexibility, experts warn that the actual cost of insurance is now buried under multiple layers—leading to confusion and higher consumer expenses.
Lentils at the Center of India-US Trade Tensions
A new 10% import duty on pulses has put lentils at the heart of India-US trade talks. The US wants yellow lentils to be classified separately from red masoor to avoid the tax. Currently, both fall under the same harmonized system of nomenclature (HSN) code. India is considering duty-free US pulse imports, even as Washington prepares retaliatory tariffs on Indian goods next month. However, changing HSN classifications is a lengthy process. Despite rising domestic production, India still relies on imports, with Canada and Australia supplying the bulk of lentils. The fate of yellow lentils remains uncertain, keeping pulses a key issue in India’s global trade strategy. -
To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.
https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc
This is Nelson John, and I'll bring you the top business and tech stories, let's get started.
India’s Market Position Slips, Brazil Takes the Lead
India fell three spots to sixth place in Mint’s Emerging Markets Tracker, as a stock market downturn, currency depreciation, and an 11% export decline overshadowed strong GDP growth. Meanwhile, Brazil surged to the top, driven by a 4.5% currency appreciation and stock market gains. China moved up to second, while Thailand secured third place due to export growth. Despite slower depreciation, the rupee remained one of the worst-performing currencies.
Tamil Nadu’s Footwear Revolution
Tamil Nadu is pivoting from leather to non-leather footwear manufacturing, attracting global brands like Nike, Puma, and Adidas. The state has secured ā¹17,550 crore in investments, promising 2.3 lakh jobs. Companies like JR One Kothari have already produced 2 million Crocs, while a ā¹5,000 crore Adidas facility is set to create 50,000 jobs. Rising labor costs in China, Vietnam, and Indonesia are making India a viable alternative, but challenges remain—localizing raw material supply is a priority.
IPO Market Gears Up for 2025
Major firms like NSE, NSDL, Tata Capital, boAt, JSW Cement, and PhonePe are preparing for IPOs in 2025. Market volatility, investor sentiment, and US policies remain key factors. Analysts say the new wave of IPOs emphasizes financial discipline, AI integration, and ESG compliance. Among key listings, Tata Capital plans a ā¹15,000 crore IPO, boAt eyes ā¹2,000 crore, and JSW Cement is set for ā¹4,000 crore. With market confidence rising, the IPO scene is heating up.
Senior Housing, Co-Living Gain Traction
India’s real estate market is shifting, with senior housing and co-living emerging as promising yet complex segments. Urbanization is driving demand for mixed-use senior living communities that blend healthcare and family housing. Meanwhile, co-living is rebounding, driven by young professionals seeking affordable housing. However, low yields and operational hurdles make investors cautious. Additionally, luxury branded residences, linked to global hospitality brands, are gaining traction among HNWIs.
Indian IT Firms Lead H-1B Approvals Amid Policy Shifts
Indian IT companies secured one-fifth of all H-1B visas in 2024. Infosys led Indian firms with 8,140 approvals, trailing Amazon’s 9,265. India remains the dominant H-1B recipient, but policy changes under the Trump administration could impact hiring. The selection process is shifting to prevent multiple filings, fees have increased, and records older than five years are being deleted. While Indian IT firms remain strong, new rules could create hurdles for skilled workers.
India’s economic landscape is evolving—can it navigate global headwinds and capitalize on emerging opportunities? -
To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.
https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc
This is Nelson John, and I'll bring you the top business and tech stories, let's get started.
IndiGo Soars to New Highs but Faces Valuation Concerns
IndiGo’s stock hit a 52-week high of ā¹5,190, fueled by strong management commentary and rising air travel demand from the Mahakumbh gathering and an extended wedding season. Passenger traffic surged 17% YoY, lifting revenue per seat. Since January, the stock has gained 25%, delivering a 58% annual return—far outpacing the Nifty 50. However, its valuation of 9.5x earnings exceeds global airline peers like Air China (8.8x) and the industry average (5.5x). IndiGo plans to expand international capacity from 28% to 40% by 2030, adding one aircraft per week and cutting grounded planes. Despite strong fundamentals, analysts warn the upside is limited, with Motilal Oswal and Nuvama setting target prices below its current ā¹5,097 level.
Eli Lilly Brings Mounjaro to India
Eli Lilly has launched Mounjaro, its diabetes and weight-loss drug, in India after securing regulatory approval. With over 101 million diabetes cases and rising obesity, India is a key market for the pharma giant. Already sold in the UK and Europe under the same name and as Zepbound in the U.S., Mounjaro is expected to tap into a global obesity drug market projected to reach $150 billion annually by the 2030s. CEO David Ricks had hinted at a 2025 India launch, and now it’s a reality.
Accenture’s Warning Spells Trouble for IT Sector
Accenture flagged macroeconomic uncertainty in the U.S., citing weaker earnings and federal contract delays under the Trump administration. The IT giant’s Q2 revenue fell 5.8% sequentially to $16.66 billion but grew 5.4% YoY. Its Q3 revenue outlook remains between $16.9 billion and $17.5 billion, with full-year growth guidance capped at 7%. For Indian IT majors like TCS, Infosys, and Wipro, this signals headwinds, as analysts predict slower growth for India’s $283-billion IT sector in FY26 due to high interest rates and geopolitical risks. However, AI offers a bright spot—Accenture secured $1.4 billion in Gen AI bookings last quarter, with total AI-related orders hitting $5.6 billion since September 2023.
The Corporate Rebranding Wave: More Than Just a Name Change?
Following Zomato’s shift to Eternal, CK Birla Group’s HIL Ltd has rebranded as BirlaNu Ltd, while Hindalco has also refreshed its identity. Experts say rebranding reflects strategic shifts, next-gen leadership, and market differentiation. Over 1,100 Indian companies have changed names in the past two decades, with BFSI, real estate, and IT leading the trend. A third of newly listed companies rebrand within five years of their IPO, highlighting competitive pressures. But does it impact stock prices? Not necessarily—PwC’s Raghav Narsalay notes that unless tied to a major business shift, investor reactions remain muted.
India Approves ā¹54,000 Crore Defence Boost
India has cleared a massive military upgrade, approving key acquisitions for the Army, Navy, and Air Force. Highlights include:
• Air Force: Airborne Early Warning & Control (AEW&C) aircraft to enhance aerial surveillance.
• Army: Upgraded 1,350-HP engines for T-90 tanks, improving mobility in high-altitude regions.
• Navy: Indigenously developed Varunastra torpedoes for anti-submarine warfare.
The Defence Acquisition Council (DAC), led by Defence Minister Rajnath Singh, also announced measures to speed up procurement as part of the government’s “Year of Reforms” initiative. These moves reinforce India’s focus on military modernization and operational readiness. -
It's Thursday, March 20th, 2025. This is Nelson John, let's get started.
Market Rally Continues, Mid- & Small-Caps Shine
Indian markets extended their winning streak for the third straight session, with the Sensex closing 148 points higher at 75,449 and Nifty 50 reclaiming 22,900. However, the real momentum was in mid- and small-cap stocks, which surged over 2%, adding nearly ā¹5 lakh crore in investor wealth. “The market’s positive momentum is backed by valuations,” said Vinod Nair of Geojit Financial Services, though global uncertainties persist. While Shriram Finance and HDFC Life led the gains, ITC and Tech Mahindra lagged. Analysts expect rangebound movement, with support at 22,600 and resistance at 23,100.
Trump Organization Enters India’s Commercial Realty Market
After four luxury residential projects, the Trump Organization is launching its first commercial venture in India—Trump World Center Pune. Partnering with Tribeca Developers and Kundan Spaces, the ā¹1,700 crore office complex will span 1.6 million sq. ft. with a premium retail boulevard. “There’s a dearth of premium office spaces in India,” said Tribeca’s Kalpesh Mehta. With record-high leasing in Pune’s commercial market, experts believe Trump’s entry will reshape the city’s office landscape.
Prologis Bets Big on India’s Warehousing Boom
Global warehouse giant Prologis is investing $500 million in India by 2026 to develop large warehousing parks. “The market is underserved, and there’s massive potential,” said Prologis CIO Joseph Ghazal. With major clients like Amazon, the firm is expanding in Delhi, Mumbai, Pune, Bangalore, and Chennai. It has already secured 270 acres for projects in Chennai and Bengaluru. As India’s Grade A warehousing sector grows, Prologis may eventually expand into data centers.
RBI’s Balancing Act on the Rupee
With the rupee depreciating 2.1% in 70 days under Governor Sanjay Malhotra, the RBI faces a tough choice—intervene or let markets decide. “The uncertainty around Trump’s policies is a key factor,” said economist Madan Sabnavis. India’s $654 billion forex reserves provide a cushion, but too much intervention could distort market dynamics. Former RBI Governor Duvvuri Subbarao cautioned, “Excessive intervention could make markets reliant on the RBI.”
India Builds Tur Buffer to Curb Inflation
To stabilize tur (pigeon pea) prices, the government is targeting a 1-million-tonne buffer for FY26. With production up 3% to 3.5 million tonnes, procurement has reached 200,000 tonnes so far. Despite an MSP of ā¹7,550 per 100 kg, market prices fluctuate between ā¹7,000-7,600. Imports from Mozambique and Myanmar help bridge the demand gap. The government has allocated ā¹4,019 crore under the Price Stabilization Fund to maintain supply and control food inflation. - Visa fler
