Business Standard - April 12, 2025

In this issue

April 12, 2025

'High degree' of urgency for US trade deal: Jaishankar

The Trump administration was quick in responding to what was tabled for a bilateral trade pact with India and New Delhi is geared up for a \"very high\" degree of urgency in concluding trade deals with the US and the European Union, External Affairs Minister SJaishankar said on Friday.

2 mins

Nifty 50 earnings likely contracted in Q4

The January-March 2025 quarter (Q4FY25) is expected to show a decline in the combined net profits of Nifty 50 companies, according to brokerages.

2 mins

Scriptures and dialects to empower AIKosh

The government is planning to use text, images, and other content from religious books and scriptures — cutting across languages like Hindi, English, Tamil, Telugu, Kannada, Urdu, and some others — as inputs for the AIKosh database, according to sources aware of the development.

2 mins

Fake invoices: I-T dept reopening old assessments

The income tax (I-T) department has begun reopening hundreds of old assessment cases, targeting businesses that may have claimed fake or inflated purchases to suppress profits and reduce tax liability.

2 mins

Govt working on 25 chipsets with Indian IPR to fight cyber attacks

The semiconductor and AI (artificial intelligence) mission is moving fast even as it charts a $500 billion electronics-production target by 2030. ASHWINI VAISHNAW, minister for electronics and information technology, railways, and information and broadcasting, in an interview with Surajeet Das Gupta in New Delhi, unravels the action on the ground and the move towards localisation. Edited excerpts:

3 mins

India never negotiates at gunpoint: Goyal on US deal

Both nations may pursue interim trade pact within 90 days

2 mins

Markets Get Relief From Tariff Timeout

Indian equity benchmarks surged as much as 2 per cent on Friday after US President Donald Trump rolled back some tariff measures earlier this week.

1 min

Equity investments in real estate up 74% at $2.9 bn in Q1CY25

The total equity investment inflows in real estate stood at $2.9 billion in the first quarter of the calendar year (Q1CY25), recording a 74 per cent year-on-year (Y-o-Y) increase, according to real estate consulting firm CBRE South Asia.

1 min

Mounting Costs

New rules require firms to pay more to recycle air conditioners, refrigerators, and TVs.

1 min

Amid wavering loyalty, QSRs whip up treats for GenZ

Quick-service restaurant (QSR) chains are busy whipping up treats for the GenZ as they fight for a share of this emerging consumer cohort.

2 mins

Electronics Firms Oppose E-Waste Policy

Daikin, Hitachi, and Samsung Suing Government Over Pricing Mandate

1 min

Realty to build on tax breaks, wallet watch

Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.

3 mins

MG Windsor Races to Become Fastest-Selling EV

Company sold 20,000 units in six months

1 min

Realtors May Post Mixed Q4 Results as Residential Demand Moderates

India's top listed real estate developers may report a mixed quarterly performance in terms of sales and revenues in the fourth quarter of 2024-25 (Q4FY25) because some of them missed their pre-sales guidance due to launch delays and moderate residential demand across major cities.

1 min

Zepto Appoints Airtel's Akhil Gupta to Board

Quick commerce unicorn Zepto has appointed Akhil Gupta, vice-chairman of Bharti Enterprises as an independent director on its board, ahead of its initial public offering (IPO).

1 min

EaseMyTrip CEO, Italy's Deputy PM discuss strengthening tourism corridors

EaseMyTrip's Chief Executive Officer and Cofounder, Rikant Pittie, on Friday said that he discussed strengthening tourism corridors between India and Italy with Antonio Tajani, deputy prime minister of Italy.

1 min

Former vice-chairman of Bajaj Auto passes away

Madhur Bajaj, the former vice-chairman of Bajaj Auto, passed away at a hospital in Mumbai on Friday. He was 73.

1 min

Don't lose sleep over DeepSeek, says Nilekani

India has developed several small-scale artificial intelligence (AI) models and it should now scale up rather than lose sleep over China's DeepSeek, Infosys cofounder Nandan Nilekani said on Friday while asserting that the technology's adoption would be quicker in this country.

1 min

IIMA Ventures to invest ₹40 cr in 30 deeptech startups

IIMA Ventures, a technology-focused investment platform, aims to invest in 30 deeptech startups from a ₹40 crore corpus under its partnership with Small Industries Development Bank of India (Sidbi).

1 min

Vegetable oil stocks drop to 3-year low

Vegetable oil inventories in India fell to its lowest level in more than 3 years as palm oil imports in March stayed below average for the fourth straight month, a leading trade body said on Friday.

1 min

NTPC to add 30 GW thermal capacity by '32

State-owned NTPC, the country's largest power generator, has jacked up its capacity addition target by financial year 2032 (FY32) to 30 gigawatt (GW) from the earlier 26 GW to meet the rising power demand in the country.

1 min

India's outward FDI surges 20% in March

India's outward foreign direct investment (FDI) commitments rose about 20 per cent to $5.81 billion in March 2025, up from $4.84 billion the same month last year.

1 min

Outlook gloomy for corporate share in direct tax mop-up

Corporate share of net direct tax collections was lower in 2024-25 than in previous years

2 mins

Industrial output growth slows to 6-mth low in Feb

Consumer non-durables contracted for 3rd straight month

2 mins

NITI Calls For Reforms To Treble Auto Parts Exports In Five Years

India must implement reforms to triple its automotive components exports to $60 billion in the next five years, according to a NITI Aayog report unveiled on Friday.

2 mins

R&D spends by India Inc lag global competitors despite improvement

Union Trade Minister Piyush Goyal recently chided India's startups and expressed concern over the quality of innovation by them, comparing them to their Chinese counterparts.

1 min

Rupee Logs Best 1-Day Gain in Over 2 Years

The local currency, though, posts its worst week in almost 27 months

2 mins

Datasets on AIKosh will not be available for monetisation

The datasets present on the AIKosh platform will not, however, be available for monetisation, either by the government or private sector, one of the officials said, adding that Meity had clarified this in Parliament as well.

1 min

Irdai warns Heritage against unilaterally closing health claims

The insurance regulator on Friday warned Heritage TPA against unilaterally closing health claims, saying that such actions violated regulatory norms, which mandate that only insurers are authorised to communicate claim decisions to policyholders.

1 min

Proposed RBI Norms May Hit Gold-Loan NBFCs in Near Term

The Reserve Bank of India's (RBI's) draft guidelines on gold loans, if implemented in their current form, are expected to impact non-banking financial companies (NBFCs) and mid-tier banks in the near term, more significantly than larger banks, according to analysts.

1 min

India Far Ahead of Other Countries in Negotiating Trade Deal: Official

In February, Prime Minister Narendra Modi and President Trump announced their intention to finalize the first phase of a mutually beneficial, multi-sectoral BTA by the fall of 2025.

1 min

India keen to conclude deal talks with US at earliest: Jaishankar

Jaishankar's remarks at the Global Technology Summit come as Trump's policy on tariffs has triggered massive trade disruptions and fears of a global economic recession.

1 min

PM Lays Foundation for 44 Projects in Varanasi

Prime Minister Narendra Modi (pictured) on Friday inaugurated and laid the foundation stone of 44 projects worth ₹3,880 crore here.

1 min

AIADMK, BJP join hands for TN polls

Tamil Nadu's two prominent opposition parties, All India Anna Dravida Munnetra Kazhagam (AIADMK) and BJP announced an alliance on Friday to take on ruling DMK in the state elections slated for 2026.

1 min

Shifting from import substitution to export-led growth in electronics

You recently notified the new production-linked incentive (PLI) scheme for electronics components? How do you see this helping increase value addition, which has not been very high so far?

2 mins

FM Urges Austrian Firms to Harness India Opportunity

Lays Out Priority Areas Like Digital Tech, Infra, RE Among Others To Enhance Ties

2 mins

After Musk criticism, S Africa paves way for Starlink's entry

South Africa's president, Cyril Ramaphosa, has been vocal about his desire to see his country's wealthiest son, Elon Musk, invest some of his billions at home.

1 min

Google lays off hundreds in Android, Pixel units

Alphabet's Google laid off hundreds of employees in its platforms and devices unit, The Information reported on Friday, citing a person with direct knowledge of the situation.

1 min

EU Pledges Unity Amid Trade Woes

With higher US tariffs deferred by 90 days, European Union finance ministers pledged unity on Friday in negotiating a trade deal with Washington during that window, noting the US' levies were more hurtful for its own economy than for Europe's.

1 min

Dollar the latest victim of this week's market turmoil

The dollar has emerged as the latest victim of this week's market turmoil as a worsening global trade war risks derailing US economic growth.

1 min

China hikes US tariffs to 125%

'Must oppose tariff bullying,' Xi tells Spanish PM as US stands its ground

2 mins

The past and the present of M A Baby

It was May 1996. Atal Bihari Vajpayee's 13-day government had fallen. A page was about to be turned in the history of the communist movement and the country.

3 mins

When 2 elephants fight

The US-China trade war has opened many possibilities for all swing states, and India is the most consequential of them. It has to rededicate itself to that Covid-era reform idea

5 mins

US Tariffs Are Making China Great Again

Be nice to allies, departing US Ambassador to China Nicholas Burns said, when asked how Washington might beat Beijing in the global game of power.

3 mins

The Comic Red Line

In 1922, Rabindranath Tagore penned a short story titled Bidushok, which translates to \"the clown.\" In the story, Karnat was conquered by the king of Kanchi, who then destroyed the local villages. Bidushok, the king's court jester, consequently resigned from his position.

3 mins

Maga Meets Resistance and Ridicule

Anti-Maga T-shirts are everywhere—and they are hilarious. \"Did you know that 1 out of 3 Trump supporters are as stupid as the other 2?\" reads one that retails online for Canadian (CAD) $32.99.

3 mins

Markets rebound after Trump's tariff pause

Despite the rally, benchmarks ended the week 0.3 per cent lower

2 mins

Gold Soars Past $3,200 as Trade War Deepens

Safe-haven gold gained nearly 2 percent and surpassed the $3,200 mark on Friday, spurred by a weaker dollar and recession concerns over the intensifying trade war between the US and China.

1 min

Domestic demand, European turnaround keep Street positive on Tata Steel

Tata Steel's European operations may be improving, though global headwinds could make things difficult for the steel industry.

2 mins

Equity MF Inflows Drop to 11-mth Low of ₹25,082 cr in Mar

SIP inflows resilient at ₹25,926 crore

2 mins

NSE active clients up 21% in FY25; Groww leads with 36% growth

The National Stock Exchange (NSE), India's largest bourse, saw its active client base grow by 21 per cent to 49.2 million in FY25, fuelled by robust stock market gains in the first half of the financial year.

1 min

Sun Pharma stock up 2% as US court clears alopecia drug launch

Sun Pharmaceutical Industries stock ended 2.15 per cent higher on Friday after zooming by almost 5 per cent in the morning trade on the back of an announcement that a court ruling has cleared the deck for India's largest pharmaceutical company to launch its alopecia drug Leqselvi in the United States.

1 min

What to do if your insurance claim is rejected?

The Supreme Court ruled this week that insurance companies could not deny claims on grounds of breaching a condition that was \"impossible\" to fulfil.

2 mins

TCS Earnings Cut on Muted Q4 Showing

Demand uncertainty prompts brokerages to cut target price for stock

2 mins

Lifting A Nation

Olympic silver medallist Chanu opens up to Vishal Menon on why winning an Asian Games medal would mean the world to her, her love for Lata Mangeshkar songs, and the plans to open an academy for weightlifters in Manipur

3 mins

Forces of nature

Sumana Roy has chosen to title the introductory chapter of her book \"Phloem\" rather than Preface or Introduction.

5 mins

De-extinction' of dire wolf could be both a gift and curse

Despite its potential for conservation, questions around the consequences of resurrecting extinct species remain

4 mins

Luxury rush: Hotels may add 100,000 keys in 5 yrs

The country's hospitality industry is expected to record one of its fastest growth rates in investment and expansion between 2024 and 2026, sector executives told Business Standard.

2 mins

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