Business Standard - April 14, 2025

In this issue

April 14, 2025

Sectoral trade talks with US to begin virtually this week

Even as Washington eyes '90 (trade) deals in 90 days', India and the US are set to launch virtual sector-specific discussions on a proposed trade agreement - with an aim to finalize, by May-end, areas where negotiations can be swiftly concluded.

2 mins

UPI outages cumulatively lasted 1K mins over 5 yrs

The first of a two-part series on the UPI downtime raises questions around duopoly of the platform

1 min

Clients Are in Risk Management Mode

Even after exiting the consumer business, Citi continues to be the largest global bank in India by revenue and a banker to Indian clients in 70 countries while managing 8 percent of India trade flows. JASON REKATE, global co-head (corporate banking), talks to Subrata Panda and Manojit Saha in Mumbai on uncertainties due to global tariff wars, how Indian companies are navigating these challenges, and why India continues to be an important market for the American lender. Edited excerpts:

1 min

Reaching $50 Billion Revenue Goal by '30 Still a Possibility

In an increasingly uncertain macro environment, K Krithivasan, chief executive officer (CEO) and managing director (MD) of Tata Consultancy Services (TCS), continues to reiterate that 2025-26 (FY26) will be better than 2024-25 (FY25) in terms of growth for the company. He remains confident due to the $39.4 billion in total contract value (TCV) the company signed in FY25 and growth from its international markets. In an interview with Shivani Shinde in Mumbai, he talks about what is driving this TCV growth. Edited excerpts:

4 mins

DRL Cuts Workforce Cost by 25% Amid Margin Strain

Move may result in savings of up to ₹1,300 crore for the pharma major

2 mins

TaMo, Maruti, two others seek to make e-ambulances

Four major original equipment manufacturers (OEMs) — Force Motors, Tata Motors, Maruti Suzuki India (MSIL), and EKA Mobility — have expressed interest in manufacturing electric ambulances (e-ambulances) under the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PME-DRIVE) scheme, two people said.

1 min

Our objective is to become the clear number 2 brand in NCR

Max Estates, the real estate development arm of Max Group, is eyeing the second spot in the National Capital Region (NCR) market with 17 million square feet of residential and commercial space being built up over the next 3-4 years with a ballpark investment of ₹15,000 crore including land, said Managing Director and Chief Executive Officer Sahil Vachani. In an exclusive interaction with Gulveen Aulakh in New Delhi, the top executive said that while Max will remain in Delhi NCR, it will remain open to acquiring projects through inorganic routes. Edited excerpts:

2 mins

Chance to get Tata Steel Netherlands back as benchmark

Tata Steel recently announced a major transformation programme at its Netherlands operation that is expected to impact 1,600 jobs. In a video interview, Koushik Chatterjee, executive director and chief financial officer, Tata Steel, discusses with Ishita Ayan Dutt a wide range of issues — from the genesis of the transformation programme to safeguard duty on steel in the domestic market, and the India story which is expected to get stronger in a volatile world. Edited excerpts:

3 mins

Auto sector may have cruised in Q4 on festival boost, launches

Rising input costs, higher ad spends may keep margins under pressure

3 mins

HDFC Capital creates ₹1.5K cr realty platform with Eldeco

HDFC Capital Advisors, the real estate private equity arm of HDFC Group, has created a ₹1,500 crore platform in partnership with the Eldeco Group to develop 18 residential projects across multiple states with a revenue potential of ₹11,000 crore.

1 min

Apple's India FOB production in FY25 surged 57% to ₹1.89 trn

GOING STRONG

1 min

Glenmark, Sun, Zydus recall products in US

Drug makers Glenmark, Sun Pharma and Zydus are recalling products in the US for manufacturing issues, the US Food and Drug Administration (USFDA) said in its latest Enforcement Report.

1 min

Lemon Tree May List Arm Fleur Hotels Next Year

Lemon Tree Hotels may list its subsidiary Fleur Hotels next year in an effort to become a debt-free company.

1 min

'Very interested in exploring humanoids'

Are the traditional cost takeout large deals back on the table?

3 mins

Wipro eyes GCC service line to catch up with peers

Infosys and Cognizant already in the segment

2 mins

Low loan approvals hobble PM Vishwakarma scheme

High rejection rate raises concerns over screening, documentation, and implementation hurdles

2 mins

'Zero-for-zero' tariff strategy off the table

A 'zero-for-zero' tariff strategy under the proposed bilateral trade agreement between India and the US is unlikely, as the two countries are at different levels of economic development, official sources said.

1 min

India May Not Raise US Tariff Issue at WTO

India is unlikely to launch a dispute at the World Trade Organization (WTO) against the US over reciprocal tariffs, as both sides are currently engaged in negotiations aimed at reaching a trade deal.

2 mins

Govt plans cheap gas lifeline for LNG trucks

Move aimed at reviving shuttered outlets

2 mins

Shrimp feed prices drop by ₹4/kg to reimburse farmers

The Trump tariff imbroglio continues to impact the Indian shrimp sector.

1 min

Shippers rush to reach US shores amid tariff pause

To monitor how supply chains reshuffle; freight rates up for 2nd week in a row

2 mins

OIS rates fall sharply in April so far

Overnight indexed swap (OIS) rates have gone down significantly in April so far despite the rise in US Treasury yields on expectations of a deeper rate cut by the Reserve Bank of India's (RBI's) monetary policy committee, said dealers.

1 min

DRL Looks to Sustain Double-Digit Growth, 25% Ebitda via Downsizing

\"The company aims to sustain double-digit growth and maintain 25 per cent Ebitda (earnings before interest, taxes, depreciation, and amortisation) margins through these initiatives,\" the analysts said, adding that DRL is investing in high-margin, complex generics and biosimilars for developed markets.

1 min

PhonePe Continues to Dominate UPI Leaderboard

Fintechs Navi and Super.money were the fourth- and fifth-largest at 1.77 per cent and 0.94 per cent, respectively.

2 mins

Govt-related policies have been supportive in India

Citi continues to be the largest global bank in India by revenue even after consumer divestiture.

3 mins

Customs scrutiny to get more strict everywhere

After causing a week of chaos across the world, the United States has held in temporary abeyance for 90 days the reciprocal tariffs imposed on imports from most countries.

2 mins

In a first, NTPC taps pvt miners for coal supplies

India's largest power generation company, NTPC Limited, has for the first time started procuring coal from privately owned commercial coal mines in the country.

2 mins

States Put Up United Front for a Higher Share in Divisible Pie

Most governments, including those run by BJP, want the 16th Finance Commission to increase their share to 45-50 per cent from 41 per cent, writes Archis Mohan

3 mins

Capital dreams rekindled: The making of Amaravati

Dubbed a 'ghost town' until recently, the 2,300-year-old city is all set for a revival, giving the locals and industry a reason to cheer. SHINE JACOB reports

3 mins

ONLY 12% OF HIGH COURT JUDGES DECLARED ASSETS

Number of SC, HC judges with undisclosed assets

1 min

India's Richest Report Only a Fraction of Their Wealth

A new study shows under-reporting of income makes personal I-T effectively regressive. SHIKHA CHATURVEDI analyses

1 min

US to declare separate tariffs for exempted electronics

China says tariff break a 'small step' to fixing mistake

2 mins

US, Saudi on 'pathway' to civil nuclear deal

The United States and Saudi Arabia will sign a preliminary agreement to cooperate over the kingdom's ambitions to develop a civil nuclear industry, US Energy Secretary Chris Wright told reporters in the Saudi capital Riyadh on Sunday.

1 min

Over 30 Killed in Russian Missile Attack on Ukrainian City

Zelenskyy says 'talks never stopped attacks... what's needed is an attitude towards Russia that a terrorist deserves'

2 mins

Moody's: US trade uncertainty to adversely impact Asia's growth

Uncertainties around the US trade policy will undermine business confidence and consumer sentiment, adversely impacting growth in Asian nations, including India, Moody's Ratings said on Sunday.

1 min

Apple Was on Brink of Crisis Before Trump's Tariff Concession

Apple has managed to dodge its biggest crisis since the pandemic — for the moment, at least.

2 mins

The fall of Biden

Over St. Patrick's Day weekend in 2024, US President Joe Biden hosted the traditional gathering of Irish and Irish American politicians in the White House.

3 mins

Think long-term

Gaps in IAF capability must be filled swiftly

2 mins

A New Plaza Accord?

Dollar depreciation is underway without requiring an accord

4 mins

Transaction Declined

UPI Outage Raises Concern and Risk

2 mins

Climate change: A footnote in US plans

\"This is not the time for energy transition, this is the time for energy addition,\" said United States (US) Energy Secretary Chris Wright to cheering applause.

3 mins

Shipshape & float-ready: Mazagon nears global docking point

Last week, the government sold a 3.5 per cent stake in Mazagon Dock Shipbuilders (MDSL) through an offer for sale (OFS).

1 min

Growth rocket, secured with a debt parachute

HEAVY ON HORSEPOWER, LIGHT ON RISK: A high-powered equity engine, anchored by a secure debt and money market cushion

2 mins

After the Glitter, a Retreat Midas Hits Sell Key: Gold ETFs Log First Pullback in 11 Months

₹77 crore exit halts golden run driven by record inflows

1 min

Investors Should Reset Return Expectations

Donald Trump's tariff announcements have knocked the wind out of market's sails in the last few trading sessions. Anand Shah, chief investment officer — PMS and AIF Investments at ICICI Prudential Asset Management Company, tells Puneet Wadhwa in an email interview that a staggered, diversified flexicap strategy will allow investors to participate in the markets while mitigating timing risk. Excerpts:

2 mins

The side effects are real, but Sun Pharma stays on its feet

Growth hormone kicks in as country's largest pharma co's vital signs hold amid generic strain

2 mins

Aggregator Liable for Driver's Failure to Turn Up

Upendra Singh, a prominent doctor residing in New Delhi, had booked air tickets for himself and his wife, Preeti, to travel on Vistara Flight No. UK 913 from Delhi to Indore to attend the wedding function of a close friend.

2 mins

Stay invested or you may miss the market rebound

Stick to asset allocation, maintain long-term orientation, and continue SIPs to handle volatility

3 mins

Rescue teams are relying on robots in disaster zones

India was among the first responders after a 7.7 magnitude earthquake hit Myanmar on March 28.

2 mins

'We will not use GenAI in Daimler trucks anytime soon'

and past data driver behaviour. Such models can be used to solve a small problem, such as a lane departure warning or predicting the failure of parts in the trucks.

2 mins

Ecommerce Means Business With AI

The technology has been repurposed to serve the Indian customer, report Peerzada Abrar & Udisha Srivastava

3 mins

An 8-minute video and a general manager's promotion

Follow the rule book, don't take any initiative, don't try to be innovative. With such vigilance shackles, will public sector banks ever be able to compete with private sector banks?

4 mins

Investing into the Slowdown

The Reserve Bank of India cut its growth forecast in its latest policy meeting, but in some ways Indian industry seems remarkably optimistic.

1 min

FOR A LARGER APPLE PIE

India may gain, more than China, from Trump's tariff exemption on electronic devices, but there are challenges

5 mins

Soon, Drones to Deliver Packages in Delhi-NCR

Residents of the national capital region (Delhi-NCR) will soon have drones delivering their packages.

1 min

IAF Jet Crashes Call for Greater Simulation Training of Pilots

Three Indian Air Force (IAF) fighter jets have crashed during training so far this year.

3 mins

New US visa rules unlikely to impact H1-B holders

The US government's new rule requiring all immigrants in the country to register using Form G-325R and carry proof of their legal status is unlikely to impact H1-B visa holders, green card holders, and people holding travel visas, said experts.

1 min

With IPL at crease, JioHotstar surges past 200 mn subscribers

JioHotstar, the newly-combined over-the-top (OTT) platform born out of the merger of Disney+Hotstar and JioCinema, surpassed a subscriber count of 200 million on Friday, majorly driven by the ongoing season of the Indian Premier League (IPL).

3 mins

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