Mint New Delhi - March 27, 2025

In this issue

March 27, 2025

'Trade flux, global strains cloud exports'

Global tensions, trade policy uncertainties, volatile commodity prices and financial market fluctuations pose significant risks to global and domestic growth, the Union finance ministry said, at a time when India is working to limit the impact of US tariff actions.

2 mins

GIFT Nifty yet to strike it big, nearly 2 years since switch

India's ambitious push to bring home trading in Nifty 50 derivatives has made limited progress in nearly two years, as many traders tempted by cost and logistical advantages keep faith in the Singapore Exchange (SGX).

2 mins

Small drug firms must apply online for GMP extension

Small pharma companies can file an online application if they want to take one more year to comply with global good manufacturing practices (GMPs), said the Drugs Controller General of India (DCGI) on Wednesday.

1 min

Anti-laundering provisions should not hurt honest

It is important for policymakers to ensure that measures against terror financing and money laundering aren't overzealous, and do not stifle legitimate activities or investments while trying to protect the financial systems, according to Reserve Bank of India governor Sanjay Malhotra.

1 min

As US pulls back, UN calls on EU to submit delayed climate plan

The United Nations (UN) stepped up pressure on the European Union (EU) to submit its delayed climate plan in order to fill a diplomatic vacuum left by the US.

1 min

Banking Laws (Amendment) Bill passed

The bill, passed by the Lok Sabha in December, will allow bank account holders to have up to four nominees

2 mins

OMC Refining Margins Hit as Russian Discounts Shrink

Public sector oil marketers' margins have dropped over 50% year-on-year, PPAC data shows

2 mins

Upskilling startup Intellipaat taps EY for pre-IPO fundraise

Bootstrapped upskilling firm Intellipaat Software Solutions Pvt. Ltd has appointed consultancy major EY to advise on its fundraising plans as it targets a revenue of ₹700-800 crore over the next two years, a top executive of the firm told Mint.

2 mins

HUL creator roster swells 11-fold in a year as it targets young

One number captures the explosion of India's creator economy and its ability to shape consumer behaviour: 8,000. It's the count of social media influencers Hindustan Unilever Ltd engaged with in the ongoing fiscal.

1 min

Dailyhunt parent VerSe bets on AI-driven turnaround

VerSe Innovation, the parent of news aggregator Dailyhunt and short-video app Josh, expects to break even in the next three to four months and turn profitable in FY26 after reducing losses and improving cost efficiency, co-founder Umang Bedi told Mint in an interview.

1 min

ChatGPT Levels Up With Visuals

OpenAI is making it easier to edit images in ChatGPT and create visuals for work that include lengthy, legible text, potentially broadening the chatbot's appeal for businesses and everyday users.

1 min

TPG buys India, Lanka biz of Siemens Gamesa

Wind turbine maker will own a minority stake in the new company

2 mins

Britannia's Rajneet Kohli to join HUL as executive director

Hindustan Unilever Ltd (HUL) on Wednesday announced the appointment of Rajneet Kohli, former chief executive and executive director of Britannia Industries Ltd, as executive director, foods.

1 min

Fag end of cement sector M&As?

After the Adani Group's entry into the cement sector in 2022, the industry has been in a phase of consolidation. Big cement firms want to get bigger amid the battle for market share.

2 mins

Airtel prepays ₹5,985 crore, clears 2024 spectrum dues

Bharti Airtel Ltd, India's second largest telecom operator, on Wednesday said it has prepaid an additional ₹5,985 crore to the department of telecommunications (DoT), thereby clearing its bill for the spectrum it purchased in 2024.

2 mins

Cognizant eyes spot among top four IT services companies

New Jersey-based Cognizant plans to improve margins by 30 basis points annually until FY27

1 min

Consumption credit trend: Slowing growth, falling defaults, in charts

India's consumption-led credit origination volume witnessed the biggest year-on-year decline in the credit card segment in October-December 2024, followed by home loans, signalling the weak consumption trends in the economy, showed a report released by TransUnion CIBIL India on Wednesday.

1 min

Sensex falls by 728 pts, snaps 7-day streak

Stock markets snapped the seven-day winning run on Wednesday with benchmark Sensex tanking 728 points due to profit-taking in banking and IT shares ahead of monthly expiry of derivatives contracts.

1 min

Mediation fails in Tesla trademark battle

The mediation efforts between Elon Musk's Tesla Inc. and Gurugram-based Tesla Power India Pvt. Ltd to resolve their trademark dispute have failed, the two parties informed a Delhi court on Wednesday, seeking an urgent hearing.

1 min

Wipro bags $650 mn deal from Phoenix Group

Wipro Ltd bagged a 10-year contract with UK-based insurance company Phoenix Group, valued at $650 million, making it the second deal of at least $500 million in less than a year for India's fourth largest information technology (IT) services company.

1 min

Pidilite to ramp up paints biz in Puri's parting shot

Outgoing MD says firm targets 10-15% market share in decorative paints market

2 mins

Amrut raises toast with category-first single-jaggery rum

It plans to expand premium lineup with category-first rum and whisky, while boosting single malt capacity

1 min

Diaspora disconnect: Patriotic films fail to strike a chord overseas

The Indian diaspora prefers mainstream entertainers, but shuns overtly patriotic movies, say experts

2 mins

GenAI Recodes Indian IT Shift

GenAI is driving Indian IT firms toward value-based pricing, prioritizing efficiency and outcomes over costs

2 mins

Trump's Tariff War Forces Allies to Choose Resistance or Surrender

President Trump's trade war is forcing America's closest allies to choose between fighting back, or acquiescing.

5 mins

Corporate America's euphoria over Trump's 'golden age' is now giving way to distress

Apturous applause and a sea of phones in the air greeted President Trump as he walked on stage and declared, \"The golden age of America has officially begun.\"

9 mins

KKR Plans To Sell 7% In JB Chem

issan Global private equity major KKR is set to trim its holdings in JB Chemicals & Pharmaceuticals Ltd, offloading a 6.8% stake worth $200 million on 27 March, with an option to pare an additional 3.5% stake valued at around $100 million, according to a term sheet reviewed by Mint.

1 min

Ashok Leyland may shut UK e-bus plant

Indian heavy vehicles maker Ashok Leyland said on Wednesday that its electric bus unit Switch Mobility could shutter one of its British plants, which would swing the unit's UK operations to profitability \"soon\".

1 min

Adani Group Keen on Acquiring JAL

Business conglomerate Adani group has shown interest in acquiring Jaiprakash Associates Ltd (JAL) through an insolvency process, according to people aware of the matter.

1 min

IndusInd Garners $2 Billion After Lapses

IndusInd Bank garnered $2 billion in higher-cost bulk deposits in March, its biggest monthly haul in at least two years, as the lender shored up its funding base after disclosing accounting lapses.

1 min

India sourcing of Airbus to hit $2 bn

Aircraft maker Airbus' annual sourcing of components and services from India will be ramped up significantly to touch $2 billion before 2030, its CEO Guillaume Faury has said as he emphasised that the country should play on its strengths rather than replicate what others have done in the past.

1 min

Maruti Suzuki to invest over $860 mn to add one more plant

India's top carmaker Maruti Suzuki will invest ₹7,410 crore (nearly $864 million) to set up a third plant at an existing facility in the northern state of Haryana.

1 min

LG's IPO Valuation Expectations Lower

LG Electronics Inc.'s India unit may get a lower valuation than previously expected in its initial public offering, according to people familiar with the development, after the recent decline in the nation's stock market.

1 min

WeWork India's IPO in abeyance: Sebi

(Sebi) has put the initial public offering (IPO) of premium flexible workspace operator WeWork India Management Ltd in \"abeyance\", an update with the markets regulator showed.

1 min

Bank of India raises $400 mn dollar loan

Bank of India has raised $400 million via a dollar syndicated loan, according to people familiar with the matter, marking its first such deal since 2012 that expands a list of borrowers tapping global credit markets.

1 min

RIL Halts Purchase of Venezuelan Oil

Reliance Industries Ltd (RIL) has paused further purchases of Venezuelan crude after US President Donald Trump authorized a 25% tariff on countries buying the South American country's oil.

1 min

Toyota Kirloskar Is First Parts Maker To Get Auto PLI: Govt

As per the PLI Auto portal, TKAP has two approved products under the scheme

1 min

Inside the Niche Charm of Indian Micro Schools

Some parents are seeking alternatives to mainstream schools and prefer curriculum that is hyper-personalized

8 mins

Can your family inherit your wealth without legal delays?

In the event of my passing, will my family have immediate access to my investments, bank accounts and other financial assets, or will they be subject to legal formalities? Besides, what steps can I take to ensure a smooth transfer of funds to my beneficiaries?

1 min

Will Sebi's DigiLocker Tweak Solve Unclaimed MF Issues?

DigiLocker integration is likely to streamline mutual fund asset transmission for nominees

3 mins

Angel Investing Is A High Rewards-High Risks Game: Strategies To Stay Ahead

Despite rapid growth, 5,000 startups shut shop in 2024, signalling due diligence risks

1 min

India taxes are buzz-kill for likes of Carson Block

Overseas funds pulled around $15 billion from the Indian stock market this year, data compiled by Bloomberg show

2 mins

It's a good time for India to revise its industrial policy

New Delhi could supplement the PLI scheme with efforts to ease doing business and strike useful trade deals

3 mins

Trump stocks? They're mythical in today's new era of uncertainty

His actions have threatened the world order in ways that all but consign predictability to history

4 mins

India's billionaire boom is not a sign of a hunky-dory economy

It reflects deep structural problems and raises questions about an economic model that has yielded little shared prosperity

4 mins

World trade shake-up: India's confidence seems misplaced

We can't rely on the hope that tariffs will hit other countries worse

3 mins

Modern Economies Must Learn to Value Human Beings

The Time Has Come to Apply Some Gandhian Economics by Infusing Capitalism With Human Values

4 mins

Bengaluru Brews India's First Homegrown Sake

Chef Maia Laifungbam, a certified touji, or sake brewer, is all set to launch the country's first locally produced Japanese rice wine

4 mins

France cinema's late reckoning with 'Me Too'

For decades, France's artists were seen as untouchable. That shield is cracking

2 mins

What makes artist Arpita Akhanda a memory collector?

The artist, who was just awarded the Sovereign Asian Art Prize 2025, considers her body as a vessel for memories

4 mins

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