Business Standard - April 16, 2025

In this issue

April 16, 2025

March trade deficit widens to $21.54 bn

Merchandise exports from India grew 0.67 per cent at $41.97 billion in March, mainly due to the front-loading of shipments in anticipation of US President Donald Trump's imposition of reciprocal tariffs from April 9, which has been temporarily paused.

2 mins

India trumps mkt tantrums

Benchmarks erase losses from reciprocal tariffs imposed by the US on April 2

2 mins

Startups face I-T heat over funding via S'pore

The income-tax (I-T) department has issued showcause notices under Section 68 of the Income-Tax Act to several startups over funds routed through Singapore, seeking explanations for investments received over the past five years, people familiar with the development said.

2 mins

NPCI meets banks, UPI apps to discuss recent outages

The National Payments Corporation of India (NPCI), which operates the country's flagship payments platform Unified Payments Interface (UPI), held a meeting with major banks and third-party application providers (TPAPs) on Tuesday to discuss the recent outages on the platform, according to sources aware of the development.

2 mins

External audit uncovers ₹1,979 cr impact on IndusInd

Private-sector lender IndusInd Bank on Tuesday said that the external agency appointed to validate the findings of its internal review — PwC — had identified discrepancies in its derivatives portfolio and estimated a negative impact of ₹1,979 crore as on June 30, 2024.

2 mins

Walmart leases 0.46 msf in TN for ₹3.3 cr/mth

World's leading retailer Walmart has leased 460,000 square feet of space in ITPC, Chennai, for a monthly rent of ₹3.26 crore.

1 min

Andhra Pradesh allots 21.16 acres to TCS for 99 p

The Andhra Pradesh Cabinet on Wednesday allotted 21.16 acres of land in Visakhapatnam to Tata Consultancy Services (TCS) for a symbolic price of just 99 paise, sources said.

1 min

Capital goods sector may see modest profit growth in Q4

India's capital goods sector is expected to post modest profit growth during the fourth quarter of 2024-25 (FY25), supported by a rebound in order inflows from the defence and transmission segments.

2 mins

PV wholesales rose 2% in FY25

Siam data shows sales hit record volumes

1 min

Winzo calls for central rules on gaming sector

Currently, several states have their own sets of norms for the industry

2 mins

JioHotstar May Hit 300 Mn Users by May-End

JioHotstar is on track to reach 300 million subscribers by the end of May this year when the Indian Premier League (IPL) ends.

1 min

Sahara case: ED attaches Aamby Valley land worth ₹1,460 crore

The Enforcement Directorate (ED) has provisionally attached about 707 acres of land in Pune's Lonavala, on which luxurious Aamby Valley City was built by the embattled Sahara group.

1 min

Delhi's T1 reopening marred by baggage check-in glitch

Flight operations at revamped Terminal 1 (T1) of the Delhi International Airport started Tuesday, marked by baggage check-in glitches which delayed luggage movement, causing inconvenience to passengers.

1 min

India Lit the Fuse for Tommy Hilfiger

Founder says he began his career by designing his first collection in 1985 in a small Mumbai factory

1 min

Gensol promoters barred from mkt for alleged fraud

Sebi says duo used firm's funds like a 'piggybank'

2 mins

ONDC to help digital commerce grow fivefold by 2030

The value of digital commerce across segments in India is projected to rise to $320-340 billion by 2030, marking a fivefold increase from $60-70 billion in 2022, due in large part to the Open Network for Digital Commerce (ONDC), a government-sponsored platform that launched in 2022 and connects buyers and sellers online.

2 mins

ONGC wins 11 blocks in round nine of oil and gas asset auctions

State-owned Oil and Natural Gas Corporation (ONGC) and its partners won the most number of blocks — 15 — in the ninth round of the national oil and gas asset auctions.

1 min

India-US trade deal: In-person talks may begin by May-end

India and the United States (US) are trying to finalize a trade deal as 'quickly as possible', with both sides gearing up for starting negotiations by the second half of May, a senior commerce department official said on Tuesday.

1 min

Aviation ministry for ramp-up of aircraft leasing at GIFT City

Seeks FinMin help to nudge banks for developing plane leasing ecosystem

3 mins

Retail inflation lowest since Aug 2019

WPI-based inflation cools to a six-month low

3 mins

Wheat Procurement Reaches 6 Million Tonnes in 2025-26 Season So Far

The government has purchased about 6 million tonnes of wheat so far in the 2025-26 marketing season that began on April 1, a food ministry official said on Tuesday.

1 min

Bank credit to grow 12-13% in FY26: Crisil

Bank credit in India is likely to grow 12-13 per cent in the current financial year (FY26), a tad higher than the 11.0-11.5 per cent estimated for FY25, according to Crisil Ratings.

1 min

Startups' foreign funding: Experts flag overreach of Sec 68

This creates practical hurdles for taxpayers, since retrieving old financial records or reconstructing transaction trails becomes difficult.

1 min

UPI transaction value rose 30% to ₹261 trn in FY25

Business Standard has reported previously that network disruptions caused by internet service providers (ISPs) powering UPI, hardware malfunctions, and the overloading of banks' transaction processing systems were likely behind the UPI outages on March 26 and April 2.

1 min

Jha steps down from FC with 6 months to go

About six months before the 16th Finance Commission (FC) is due to submit its report, one of the three full-time members of the body, Ajay Narayan Jha (pictured), is learnt to have stepped down.

1 min

ICICI Lombard General's Q4 profit down 1.9% at ₹519 cr

ICICI Prudential Life Insurance's net profit more than doubled to ₹386.29 crore in the January-March quarter of FY25 (Q4FY25) from ₹173.8 crore in the year-ago period, supported by healthy growth in net premium income.

1 min

Have Done Better Than Other Nations in FY25

Union Commerce Secretary Sunil Barthwal said FY25 was a difficult year for trade, with geopolitical tensions, sea routes being impacted, and countries getting affected by recession.

1 min

Axis Bank trims savings account rate by 25 bps

Axis Bank, the country's third largest private sector lender, has trimmed its savings account interest by 25 basis points (bps), effective April 15.

2 mins

Festive lending slowed in Q3 amid strict norms, tight liquidity: Report

Festive lending in the October-December quarter of the financial year 2024-25 (Q3FY25) saw a decline compared to the year-ago period amid tight liquidity, rising household debt and stricter regulatory norms, which led to cautious lending, according to CRIF High Mark Report.

1 min

Rupee breaches 86 per dollar level on US tariff relief

The rupee appreciated past the 86-per-dollar mark on Tuesday, settling 27 paise stronger against the greenback on optimism around US President Donald Trump's tariff relief.

2 mins

Karnataka Tops Charts in Justice Delivery System

Andhra climbs to second place from fifth; Telangana retains third position

2 mins

In 5 yrs, notified TB cases increase 38% in children aged 14 or less

The number of notified pediatric tuberculosis (TB) cases has increased by 38 percent in children aged up to 14 years in the past five years, mainly due to malnutrition, Covid-19 effect, and rise in drug-resistant TB among other factors.

2 mins

Harvard's Decision to Resist Trump Is of 'Momentous Significance'

University's $2.2 Billion Funding Frozen for Defying Prez's Campus Demands

3 mins

White House Moots 50% Cut in State Dept Budget, Elimination of UN and Nato Funding

The White House's Office of Management and Budget has proposed cutting the State Department's budget by almost 50 per cent, closing a number of overseas diplomatic missions, slashing the number of diplomatic staff, and eliminating funding for nearly all international organisations, including the United Nations (UN), many of its agencies and for Nato headquarters, officials said.

1 min

US Admin Initiates Chip, Drug Probes Ahead of More Tariffs

US President Donald Trump's administration pressed forward with plans to impose tariffs on semiconductor and pharmaceutical imports by initiating probes led by the Commerce Department.

1 min

Oil glut to persist till 2026 as IEA cuts demand forecast

The International Energy Agency (IEA) slashed forecasts for global oil demand this year amid the brewing trade war, and in its first detailed assessment of 2026 predicted a persistent supply surplus.

1 min

Multibillion-dollar exodus hits China ETFs

LOSING STREAK

1 min

China orders halt of Boeing deliveries

Beijing also directs airlines to stop any buys of aircraft-related parts from the US

2 mins

Hardening soft power

Mr Trump is undermining the US

2 mins

Manufacturing Momentum

Encouraging signs emerging in UP

2 mins

Voices from the void

It's a cry from a world of death, destruction and loss. A cry without tears — they have dried up.

3 mins

India's path to redemption

In celebrating Ambedkar's legacy, one cannot ignore its liberal inspiration

4 mins

Make in India to make India stronger

Donald Trump's trade tantrums to Make America Great Again have upset the global trade regime.

2 mins

Nifty Auto up 3.4% on tariff exemption cues

The Nifty Auto index surged 3.4 per cent on Tuesday after US President Donald Trump hinted at granting exemptions on auto-related import tariffs.

1 min

Sebi plans review of MF scheme classifications

The Securities and Exchange Board of India (Sebi) is looking to overhaul the mutual fund (MF) scheme classifications framework, said executive director Manoj Kumar.

1 min

1929: A tariff-led boom ends with a global crash

The British government moved towards encouraging Indian industries in the early 1920s by making imports more expensive.

3 mins

Diversified EPC players well placed in March quarter

The infrastructure sector may have done well in the fourth quarter of 2024-25 (Q4FY25) with capital expenditure (capex) by the central government up 48 per cent year-on-year (Y-o-Y) in Q3FY25, and the momentum maintained in Q4FY25.

2 mins

In a first, machines overtake humans in NSE cash mkt trades

Rise of the Machines

3 mins

Overlapping mutual funds reduce your returns. Here is how to fix it

Mutual funds are popular among investors seeking to diversify their money.

1 min

Allocate to direct plan of liquid fund, auto-sweep account

HDFC Bank has cut its savings account interest rate from 3 per cent to 2.75 per cent.

2 mins

Retail Investors Wary But Analysts Upbeat

Signs of India's retail investors growing wary have begun to emerge as rising market volatility, fueled by US President Donald Trump's shifting stance on reciprocal tariffs, is prompting many to rethink their investments.

2 mins

TRUMP TRADE MAYHEM: INDIA'S OPTIONS

In a fast-changing world, India's focus needs to be on pushing forward a broader, comprehensive trade and investment reform agenda

7 mins

Monsoon likely to be 'above normal' this year, predicts IMD

The India Meteorological Department (IMD) on Tuesday predicted an \"above normal\" monsoon in 2025, which quantitatively could be 105 per cent of the Long Period Average (LPA).

2 mins

Indian students' hunt for new destination takes fresh route

With stricter policies dampening US dream, Germany, Ireland, NZ emerge as new choices

2 mins

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