Category: Business

Just 20 days ago, the US stock market was sitting at all-time highs. The US economy appeared to be growing at a solid pace. And a recession was nowhere in sight.

Now, the R-word is seemingly everywhere.

Recession fears are rocking the stock market. GDP forecasts are getting slashed. President Donald Trump and his economic team are facing questions about a possible recession —and failing to ease mounting jitters about the economy.

US stocks retreated again on Tuesday, failing to rebound from Monday’s steep losses. The Dow dropped about 400 points (around 1%) and the Nasdaq dropped again after its worst day in two and a half years.

Selling accelerated after Trump announced plans to lob a 50% tariff on steel and aluminum imports from Canada – and warned more tariffs could be on the way.

It’s stunning how fast the mood has flipped. Investors who just a few months ago wondered if the economy was perhaps too strong are now bracing for real trouble ahead.

The reality is that the US economy doesn’t appear to be near an imminent recession. It was growing at a steady clip at the end of last year. The first quarter isn’t even over yet. And the jobs market was still in growth mode in January and February.

It’s way too early to say the economy is destined for a recession, a deep downturn typically marked by mass job loss, bankruptcies and foreclosures.

Previous recession scares were, with the benefit of hindsight, way overdone. Recall the 2022 recession freakout that featured some flashing a 99% chance of a recession.

The bad news is economists say the risk of a recession has in fact gone up, albeit from relatively low levels.

And uncertainty about Trump’s economic agenda — especially confusion about his tariff plans — is a big part of the problem.

“This is a very resilient economy. It can take a licking and keep on ticking. But it doesn’t like this uncertainty,” said David Kelly, chief global strategist at JPMorgan Asset Management.

On Monday, former Treasury Secretary Larry Summers told CNN there’s a “real possibility” of a recession.

“We’ve got a real possibility of a vicious cycle where a weakening economy leads to weaker markets, and then weaker markets lead to a weakening economy,” he said in an on-air interview.

‘Deer in headlights’ moment for business

Kelly said the economy and market are suffering from an “uncertainty tax” caused by questions about Trump’s tariffs, federal spending cuts and mass layoffs of federal workers.

“Right now, a lot of businesspeople are like deer in headlights. That’s a very dangerous place to be,” he said.

Bill Dudley, former president of the New York Federal Reserve, told CNN on Monday that it’s “premature” to forecast a recession but added that the risk has “definitely gone up.” Dudley pinned the blame on confusion over the trade war.

“Tariffs have two effects: One, they push up prices. And two, they push down growth,” Dudley said. “The Trump administration is making things worse with this on-again, off-again approach. The uncertainty level is higher than it needs to be.”

Summers noted that markets rely on predictability but instead have seen “surprise after surprise after surprise.”

“All of this emphasis on tariffs and all of the ambiguity and uncertainty created about tariffs has, ironically, both chilled demand, made businesses not invest, made consumers think they should hold off before making big spending commitments,” he said.

Market selloff intensifies

This confusion is spilling over into the market.

After its worst week in six months, the S&P 500 lost another nearly 3% on Monday. The benchmark index has now dropped about 9% since hitting a record high on February 19.

“The stock market is losing confidence in the Trump 2.0 policies,” Ed Yardeni, president of investment advisory Yardeni Research, told CNN in a phone interview. “Everything is at risk now, mostly because of the administration’s rush to establish so many objectives in a very short period of time — with unintended consequences.”

CNN’s Fear & Greed Index of market sentiment tumbled further into “extreme fear” mode on Monday, a big shift from “neutral” just a few weeks ago.

Tech stocks are suffering the brunt of the selling as investors rush out of risky corners of the market and into defense areas like utilities, healthcare and consumer staples.

The Nasdaq plunged 4% on Monday, its biggest one-day drop since September 2022. The losses were led by the Magnificent 7, the group of seven once-unstoppable high-growth stocks. Of those, Tesla plummeted 13%, while Nvidia, Apple and Alphabet lost more than 5% apiece.

Spillover into the real economy possible

Of course, the stock market is not the economy.

The unemployment rate remains low at 4.1%. The economy added jobs in February for the 50th month in a row, the second-longest period of uninterrupted growth in modern history.

Yet there is a risk that the market turmoil spills over into the real economy.

Consumer confidence, already tumbling in recent months, could take a further hit as Americans tune into the market turmoil. That in turn could depress consumer spending – the main driver of the US economy.

Delta Air Lines slashed its profit outlook on Monday, warning that deteriorating corporate and consumer confidence is hurting travel demand.

Yardeni is worried about the “negative wealth effects” caused by a continued market slump.

“Trump is going to have to rethink his notion that it’s okay to let the market go down while he is experimenting with tariffs and slashing federal payrolls,” he said.

In another potential warning sign on the economy, corporate bankruptcies are starting to pile up.

US corporate bankruptcies totaled 129 through the first two months of 2025, the highest total for this point in the year since 2010 in the aftermath of the Great Recession, according to S&P Global Market Intelligence.

Goldman Sachs: 1 in 5 chance of recession

Citing the risk of higher tariffs, Goldman Sachs increased its recession forecast on Friday — but not dramatically. The Wall Street bank now sees a 20% chance of a recession over the next 12 months, up from 15% previously.

“We raised it by only a limited amount at this point because we see policy changes as the key risk, and the White House has the option to pull back if the downside risks begin to look more serious,” Goldman Sachs economists wrote in a note to clients.

In other words, Goldman Sachs is betting that Trump will blink on tariffs if a recession looks imminent.

But what if Trump doesn’t blink?

“If the White House remained committed to its policies even in the face of much worse data,” Goldman Sachs economists wrote, “recession risk would rise further.”

Another major question mark: How will the Federal Reserve respond to the ongoing growth scare?

Dudley, the former NY Fed chief, said Trump’s tariffs put the Fed in a bind by simultaneously raising prices and hurting the economy.

Source : https://edition.cnn.com/2025/03/11/business/recession-economy-trump-dow-stocks/index.html

The European Union’s (EU) aggressive environmental regulations, particularly the carbon tax, deforestation rules, and supply chain due diligence laws are one of the biggest hurdles in the negotiations for a proposed trade pact with India, economic think tank GTRI said on Sunday.

It said that these regulations could impose additional costs on Indian exports.

Under the Carbon Border Adjustment Mechanism (CBAM), Indian exports of steel, aluminum, and cement to the EU could face tariffs of 20-35 per cent, even if an FTA is signed, the Global Trade Research Initiative (GTRI) said in its report.

This raises concerns that while EU goods would enter India duty-free, Indian exports would still face these indirect barriers in Europe, it added.

India and the 27-nation European Union (EU) bloc will start the tenth round of negotiations for a proposed free trade agreement from Monday in Brussels.

GTRI Founder Ajay Srivastava said that India is pressing for clear exemptions or compensatory measures within the FTA to neutralize the impact of CBAM and related environmental rules.

“Without such provisions, India fears that EU’s climate policies could act as disguised trade barriers, limiting its ability to export to Europe. One of the biggest hurdles in the negotiations is the EU’s aggressive environmental regulations,” he said.

On the services sector, the report said the EU imposes restrictions on remote online service delivery (Mode 1) by requiring Indian companies to establish local offices and maintain high minimum salary thresholds for Indian professionals working in Europe.

These requirements undermine the very purpose of digital trade, making it more difficult for Indian IT firms to offer their services remotely, he said adding a long-standing demand from India is for the EU to recognize it as a ‘data secure country’ under the General Data Protection Regulation (GDPR).

Without this status, Indian companies handling EU citizens’ data face additional compliance costs and legal barriers, unlike firms from countries like Japan or South Korea, which enjoy seamless data transfers.

“The EU is urging India to adopt stronger privacy regulations aligned with GDPR, but India sees this as an unnecessary burden on its digital economy. India has just enacted its Digital Personal Data Protection Act, 2023, which it argues should be sufficient, though it does not meet all EU standards,” Srivastava said.

In the services chapter of the agreement, India has also called for easier business visas (Mode 4) for its professionals travelling to the EU for short-term assignments.

On the other hand, European firms are seeking greater access to India’s banking, legal, accountancy, auditing, and financial services sectors.

The EU wants India to open these markets to European firms.

India is also seeking the recognition of professional qualifications through Mutual Recognition Agreements (MRAs). This would allow Indian professionals in areas like medicine, engineering, and accountancy to work more easily in EU countries, something the EU has been slow to agree upon, it said.

Further, the EU is pushing for access to India’s lucrative government procurement (GP) market, allowing European firms to compete for contracts in India’s central government and public sector undertakings (PSUs).

“However, India is unlikely to accept this demand, given that the EU’s own procurement market is largely closed to external firms. India may not agree to the EU demands as the government procurement is a major Indian policy support for small firms, especially in sectors like infrastructure, defense, and public services,” the report said.

In the investment negotiations, while India has proposed its Model Bilateral Investment Treaty (BIT) as the framework, the EU wants India to relax its investment protection clauses to align with European expectations.

India may be unwilling to dilute beyond its Model BIT, which is designed to protect India’s regulatory autonomy and prevent excessive legal claims by foreign investors, it added.

The report said that the EU is demanding that India take on binding commitments on labor rights, environmental sustainability, and data protection. India, however, prefers a best-effort approach, arguing that imposing rigid sustainability obligations could interfere with its domestic laws and policies.

European negotiators are insisting that India align its labor laws with international standards, particularly in areas like collective bargaining, workplace safety, and wages, it said adding they also want India to commit to strict environmental norms as part of the FTA.

“Intellectual property (IP) remains another area of disagreement. The EU is pressuring India to agree to TRIPS-plus provisions, which go beyond the WTO’s Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement,” it said.

The GTRI said that the EU wants stronger enforcement mechanisms, extended data exclusivity for pharmaceutical companies, and tougher patent protection rules.

“India, however, resists these demands, as they could make life-saving drugs more expensive and restrict India’s thriving generic drug industry, which supplies affordable medicines to the world,” it added.

In the area of Geographical Indications (GIs), the EU is asking India to bypass its normal GI registration process for certain European products, granting them automatic recognition, according to the report.

This would give products like Champagne, Roquefort cheese, and Prosciutto di Parma (a dry-cured Italian ham) immediate GI protection in India without undergoing the standard verification process, it said.

“India insists that the EU follow Indian legal procedures for registering GIs, just as Indian products like Darjeeling Tea, Basmati Rice, and Alphonso Mangoes undergo rigorous scrutiny before receiving GI status in Europe,” it added.

The India-EU agreement has the potential to significantly boost trade and investment between the two partners.

Source : https://www.deccanherald.com/business/eus-aggressive-environmental-regulations-biggest-hurdles-of-fta-talks-with-india-gtri-3438925

Over 1.2 crore central government employees may have a lot to cheer about this Holi as the Centre may announce a raise in Dearness Allowance (DA) and Dearness Relief (DR) ahead of the festival. Usually, the government goes for a DA hike twice a year – January and July, however, the announcement is mostly made around Holi for January’s hike and Diwali for July revision.
During the Cabinet meeting in New Delhi on March 5, 2025, no discussion took place regarding a Dearness Allowance (DA) hike for central government employees.
Last year, on March 4, the Cabinet approved a DA hike, increasing it from 46% to 50% of the basic pay. Another hike in October 2025 raised the DA rate to 53%, effective from July 1, 2025.

In January 2025, the government announced the formation of the 8th Pay Commission to review salaries and allowances for central government employees, with implementation expected from January next year.

Source : https://www.timesnownews.com/business-economy/personal-finance/da-hike-before-holi-over-1-2-crore-central-govt-employees-may-get-good-news-soon-article-118773513

Legendary investor Jeremy Grantham who has accurately predicted past financial crises and market tops said the U.S. stock market is now in “super bubble” territory.

“I’ve always looked at it from the point of view that the longer and the bigger and the higher it goes, the more exciting and dangerous it will be, and this has moved up the rank of super bubbles,” Grantham, who co-founded investment management firm GMO, said on a Bloomberg podcast interview that published Friday.

That said, the current bubble building on Wall Street is nowhere near Japan’s 1989 “mother and father of all super bubbles” or that country’s real estate bubble of the same era, he added.

His dim view of U.S. stocks isn’t new. In early 2024, he warned investors to avoid them — the year ended with a 23% gain for the S&P 500 SPX+1.59%. He forecast a potential 50% drop for stocks in 2023 when the index finished up 24%. But the investor is also widely followed thanks to his correct calls on the housing market crash and dot-com bust.

His latest warning comes as U.S. stocks have struggled for gains amid worries about President Donald Trump’s tariffs with major technology stocks like Tesla
TSLA+3.91% and Nvidia NVDA+3.97% also stumbling. Grantham notes that “every measure of traditional value,” for stocks, including the cyclically adjusted price-to-earnings ratio, is at record levels.

One of the market’s main drivers, AI, like “every really important new technology,” is also surrounded by a bubble, he said.

“It will, of course, change our world. It is, of course, impossible to know in what ways, and whether it will be entirely beneficial or not,” he said. “If the government does not smooth out the benefits of AI, you will have either starvation or revolution.”

As for where Grantham would invest his money now, he favors those aimed at “greening the economy,” without identifying particular assets.

As of Jan. 31, top stocks in GMO’s Climate Change Strategy were biofuels group Darling Ingredients DAR-2.12%, Korean battery and storage company LG Chem 051910-6.57%, solar group Sunrun RUN-8.34%, biofuels company Ameresco AMRC-35.62% and Canadian copper producer Ivanhoe Mines IVN-1.44%

He believes that will be a “long and bumpy” road, but a much needed massive undertaking requiring plenty of investment and workers to get done. It’s also a beaten-down area of the market, he noted.

“Unlike most things in the stock market, I would say that is an area that we’ll have sooner or later, a massive regrouping and a huge outperformance of the rest of the market,” said Grantham.

He also sees a system that faces lots more big shocks, and “in that environment you do not want to be caught with a lot of leverage,” which he said will just crush businesses. “You have to be able to withstand shocks unexpectedly arriving, and to do that, you need little or no debt,” plus decent profit margins for a cushion, he said.

“The [1930s] were a pretty good ultimate reminder. That things are cheap, usually for a pretty good reason, so you have to tread carefully,” he said. “If you’re going to play the cheap game, you’ve got to make sure, it is armor-plated with as much quality as you can get into it.”

Turning to non-U.S. markets that have been getting more investor love, such as China and European stocks, Grantham said he said they are “much less dangerous to own and will very likely over five or 10 years crush the U.S. market as has happened several times.” He said U.S. and foreign markets often take turns having “great” decades.

Source : https://www.marketwatch.com/story/jeremy-grantham-on-the-meltdown-coming-for-u-s-stocks-and-where-hes-putting-his-money-now-e186302f

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No matter what metric you’re looking at, US inflation is moving in the wrong direction again.

Whether it’s a house or a carton of eggs, price growth is once again intensifying across a broad range of indicators. Much of that has to do with the same supply and demand factors and labor-market pressures that led to the initial inflation surge in the pandemic, while planned tariffs from President Donald Trump are heightening concerns that prices will rise even more.

The scope of reports indicating a resurgence in price pressures — spanning from input costs to wage growth to inflation expectations — underscores the Federal Reserve’s intent to keep interest rates on hold for the time being. Policymakers’ preferred gauge of underlying inflation probably picked up in January, ahead of data due Friday.

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“Our outlook is very much for inflation to be coming back. We’ve been saying second half of this year, but it seems like the pressures are already starting to build,” said Lauren Saidel-Baker, economist at ITR Economics.

And between the administration’s policies on tariffs and immigration, there’s more to come, she said. “I want to be absolutely clear: there are upside risks to our inflation outlook.”

Here are some of the inflation measures that are heating up again:

Input Costs

Costs of materials like lumber and steel have been high for several years coming out of the pandemic and are moving up even more. A measure of input prices for manufacturers this month reached the highest since October 2022, according to S&P Global. A similar gauge from the Institute for Supply Management rose last month to the highest since May.

Businesses surveyed by the Dallas Fed in February reported that an index of prices for raw materials doubled to the highest since September 2022, around the time when overall US inflation rates peaked. One food manufacturer responded that the items it imports will get more expensive because of tariffs, and higher prices will be borne by consumers.

Elon Musk on Thursday made a plea for “top notch” air traffic controllers to come out of retirement to help ease a shortage of skilled aviation workers as public concern over flight safety mounts.

Musk, the face of the government’s cost-cutting task force, has taken a special interest in revamping the Federal Aviation Agency, calling for “rapid safety upgrades to the air traffic control system.”

But fears about the country’s aviation system have grown after a deadly DC plane crash and a series of near-misses – prompting Musk to call for retired air traffic controllers to return to towers.

“There is a shortage of top notch air traffic controllers,” Musk said Thursday in a post on X, his social media platform.

“If you have retired, but are open to returning to work, please consider doing so.”

The FAA did not immediately respond to a request for comment.

Transportation Secretary Sean Duffy earlier this month praised the Department of Government Efficiency, or DOGE, team for helping to “upgrade” the aviation system. Duffy then started fired about 400 FAA staffers, stressing: “Zero air traffic controllers and critical safety personnel were let go.”

The layoffs did include personnel hired for FAA radar, landing and navigational aid maintenance, according to the Associated Press.

The culling by Duffy came just weeks after a fatal mid-air crash at Ronald Reagan Washington National Airport.

On Jan. 29, an American Airlines jet was preparing to land when it collided with a Black Hawk helicopter, sending both aircraft plummeting into the Potomac River.

All 64 passengers on board the plane, including several young figure skaters who were returning from a skating camp, along with three people in the military chopper were killed.

In the following weeks, several other plane mishaps have led to rising concerns from panicked passengers that there is a shortage of crucial air safety workers.

On Feb. 17, a Delta Air Lines jet flipped upside down, lost a wing and skidded along a snowy Toronto runway before bursting into flames.

All 80 passengers on board survived, and those who were hurt suffered minor injuries.

Earlier this week, a Delta flight was forced to turn around and return to Atlanta after takeoff when the crew reported “possible smoke.”

The incident occurred just two days after another Delta jet headed for Australia was forced to return to Los Angeles when smoke was detected in the plane’s galley mid-air.

Source: https://nypost.com/2025/02/27/business/elon-musk-begs-top-notch-air-traffic-controller-retirees-to-return-to-work/

A Canadian regulator said on Wednesday it will impose a fee on Google to recover the cost of enforcing a law that requires large internet platforms to pay for news content on their websites.

The imposition of the levy on the Mountain View, California-based search engine giant comes at a time of increased tension between Canada and the United States over trade, border security, and a digital services tax on US technology firms.

The Canadian Radio-television and Telecommunications Commission said the vast majority of its operations are funded by fees charged to the companies it regulates, and the cost recovery rule for the Online News Act will come into effect from April 1. The charge may vary from year to year and does not have an upper limit.

The CRTC finalized the rule after a period of public consultations, during which Google intervened to argue against its implementation saying it was “not a rational approach” to impose 100 per cent of the costs on one entity.

Part of a global trend to make internet giants pay for news, Canada passed the law last year to address media industry concerns that tech companies were elbowing news businesses out of the online advertising market.

Only Alphabet’s Google and Facebook-parent Meta met the threshold of a large enough company that would need to pay news organizations.

Google, after months of negotiations with the government, agreed to pay C$100 million annually in a deal with publishers to keep news stories in search results. Meta, however, decided to block news from its Facebook and Instagram platforms in Canada to avoid payments.

Google, among other comments in its submission to the CRTC, argued the rule was “an unfair additional regulatory burden on a company that has continued to support the news ecosystem in this country.”

Source : https://www.deccanherald.com/business/companies/canada-regulator-to-impose-fee-on-google-for-online-news-laws-operating-costs-3423782

The stock market volatility continued last week with the top 10 most-valued firms witnessing a major erosion in their market cap. India’s tech giant TCS took the biggest hit as bearish trends continued with the BSE benchmark losing 628.15 points, or 0.82 per cent, while the Nifty went lower 133.35 points or 0.58 per cent in the previous week.

PM Kisan Samman Nidhi Yojana: PM Modi is all set to release the 19th instalment for PM Kisan today. Know how to check beneficiary status 2025 , eKYC process, and eligibility.

PM KISAN 19th Instalment 2025 Today: Prime Minister Narendra Modi is all set to release the 19th instalment of PM KISAN (PM Kisan Samman Nidhi) today, i.e. February 24, in an address from Bhagalpur, Bihar. The amount worth Rs 22,000 crore will be directly credited to farmers’ accounts via the DBT (Direct Beneficiary Transfer) scheme.

Under the PM Kisan scheme, eligible farmers receive Rs 2,000 every four months, which is Rs 6,000 a year. The money, which is directly transferred to the bank accounts of the beneficiaries, is provided each year in three instalments — April-July, August-November and December-March.

The scheme was announced in the Interim Budget 2019 by the then finance minister Piyush Goyal and was later launched by Prime Minister Narendra Modi. It has now become the world’s biggest Direct Benefit Transfer scheme.

Complete Your KYC To Receive the 19th Instalment of PM-KISAN

To receive the 19th instalment, farmers need to complete their e-KYC. According to the scheme’s official website, “eKYC is MANDATORY for PMKISAN Registered Farmers. OTP-based eKYC is available on the PMKISAN Portal, or the nearest CSC centres may be contacted for Biometric-based eKYC”.

PM Kisan: How To Check Beneficiary Status?

1) Visit the official website — pmkisan.gov.in.

2) Now, click on the tab ‘Know Your Status’ on the right side of the page.

3) Enter your registration number and fill in the Captcha Code, and select the ‘Get Data’ option.

Your beneficiary status will appear on the screen.

PM-KISAN: Check Your Name in the Beneficiary List

Step 1: Visit the PM Kisan official website www.pmkisan.gov.in.

Step 2: Click on the ‘Beneficiary list’ tab.

Step 3: Select details from the drop-down menu, such as state, district, sub-district, block, and village.

Step 4: Click on the ‘Get report’ tab.

After this, the beneficiary list will be displayed.

You can call on the helpline numbers — 155261 and 011-24300606.

Source : https://www.news18.com/business/pm-kisan-yojana-19th-installment-rs-22000-cr-to-be-released-today-know-how-to-check-beneficiary-status-ws-b-9238402.html

India’s EV policy, which offers import tax cuts for foreign automakers investing in the country, will restrict them from using funds spent on charging infrastructure for such relief, increasing their car manufacturing, a government document shows.

India last year announced a policy aimed at attracting Tesla to manufacture EVs in the country and let such foreign carmakers import cars at a 15 per cent tariff, from around 100 per cent now, but only if they invest at least $500 million for a factory.

But the policy will mandate that automakers can count only 5 per cent of their total EV investment as coming from creation of charging infrastructure, even if they spend much more on the power network, according to government document detailing draft rules which is not public but was seen by Reuters.

The government’s plan comes just as Tesla gets closer to entering India with imported cars, having finalised two locations for showrooms. The restriction could upset those automakers who may want to invest a bigger chunk of their planned India investments into creating charging networks, which remain far and few in India.

An industry source privy to discussions with the government said the call is being taken as New Delhi wants companies to prioritise manufacturing, and not just charging networks.

In India’s nascent EV market, many buyers have shied away from making purchases due to lack of fast chargers.

“Expenditure incurred on charging infrastructure would be considered up to (a) maximum 5 per cnt of the committed investment,” the 47-page draft document from January 2025 stated.

The government is holding consultations with carmakers and other stakeholders on the draft rules and will finalise them by next month, said a source with direct knowledge of the matter.

India’s ministry of heavy industries, which is spearheading the new policy, did not respond to an email seeking comment.

Tesla in a job advert last week said it is also looking for a “charging developer” who would “develop and manage pipeline of new charging” sites, and select locations for deployment.

The EV giant’s chief Elon Musk put on hold his manufacturing investment plans for India last year, amid falling electric car sales globally.

Tesla’s immediate India plan is to import cars and sell them in India. Musk and US President Donald Trump however have repeatedly said India’s tariffs for cars are too high.

The new draft rules said companies which commit to India manufacturing will also need to meet a minimum turnover of $577 million by the end of the fourth year of operation, and $866 million by the fifth year, to be eligible for lower tariffs on up to 8,000 electric cars per year.

Source : https://www.deccanherald.com/business/india-to-cap-investment-in-ev-charging-for-tariff-relief-as-tesla-entry-looms-document-shows-3416535

Nifty Rejig: The National Stock Exchange (NSE) has said Jio Financial Services Ltd and Zomato Ltd will enter its benchmark index Nifty 50, effective March 28. As per the revisions, Britannia Industries Ltd and Bharat Petroleum Corporation Ltd (BPCL) and will be excluded from the index.

The Index Maintenance Sub-Committee of NSE Indices Ltd has announced changes to the Nifty 50 index as part of its semi-annual review, effective from March 28, 2025, according to a statement from NSE Indices.

These changes are in line with the periodic assessment of the index to ensure it accurately reflects market trends and maintains its relevance to investors.

Zomato and Jio Financial Services Ltd. have been added to the Nifty 50 index because their average free-float market capitalization over six months is at least 1.5 times that of the smallest companies being removed.

Zomato’s market cap is Rs 1,69,837 crore, while Jio Financial’s is Rs 1,04,387 crore. In comparison, Bharat Petroleum and Britannia, which are being excluded, have market caps of Rs. 60,928 crore and Rs 64,151 crore respectively.

Source : https://www.news18.com/business/markets/nifty-index-rejig-zomato-jio-financial-to-replace-bpcl-britannia-from-march-28-9236488.html

Elon Musk, while trying to slash the US government’s federal spending, has also been exploring his businesses. Musk-led xAI released the latest version of his Grok chatbot, Grok 3, on February 18.

Grok Vs The Rest

Ever since then Musk and his allies have been talking up the platform, for being highly advanced.

In fact, Musk’s X timeline, apart from alleged misinformation on political issues, has also featured posts and reposts in the AI chatbot.

Interestingly, the release of this version was just days after the Sam Altman-led OpenAI rejected a USD 97.4 billion acquisition deal from an Elon Musk-led consortium.

Faster Than Previous Models

According to xAI engineers, this version (Grok 3) surpasses the capabilities of its previous version (Grok 2) by more than 10 times.

“Grok 3 has no specific “knowledge cutoff date”. Unlike GPT models which are constantly outdated by one year or more, Grok is always kept up-to-date. That’s actually a big deal and probably deserves more discussion”, claimed a user.

Reacting to this, Musk said, “Grok has real-time knowledge. Big difference.”

Currently, Premium+ X subscribers, who pay USD 22 or around Rs 1,906 a month can access the bot.

This is much cheaper than OpenAI’s Chatbot, which could cost around USD 200 or close to Rs 20,000.

Silence From Sam

Interestingly, Sam Altman has not reacted to the chatbot or its capabilities. This is worth mentioning because when Chinese chatbot DeepSeek stole the headlines, Altman acknowledged the capabilities of the platform and vowed to work to improve OpenAI’s bots.

There has been no known or published reaction from Grok’s other competitors, including DeepSeek and Google’s parent company, Alphabet.

Source : https://www.freepressjournal.in/business/grok-3-will-replace-google-search-elon-musks-new-ai-chatbot-makes-waves

Netflix has committed to invest $1 billion in Mexico for the production of series and films over the next four years, meaning from 2025 through 2028, co-CEO Ted Sarandos said during a press conference with Mexico’s President Claudia Sheinbaum on Thursday.

“This investment, and the productions derived therefrom, will benefit Mexican production companies and will contribute to the growth of the local audiovisual industry and the creation of opportunities nationwide,” the streaming giant said.

Netflix will also invest $2 million in Mexico City’s iconic Churubusco Studios, one of the oldest and largest production facilities in Mexico, to “elevate” its facilities. The streaming company will continue creating and funding programs that help develop diverse and creative talents behind the camera, so that they may develop their careers in the entertainment industry. In August last year, a fund worth more than $1 million was unveiled in Mexico to be used in 2024 and 2025 for this purpose.

The global streamer has a long history in Mexico. In September 2011, Netflix became available in the country. In 2015, the company produced its first series outside the U.S. in Mexico, namely Club de Cuervos.

In 2019, Netflix opened its first offices in Mexico and then decided in 2020 to set up its Latin American headquarters there. “Over the past six years, Netflix’s local employee base has increased more than tenfold, from 30 employees to nearly 400,” according to the streamer.

“This country holds a special place in Netflix’s own history,” Sarandos said during Thursday’s press conference, referencing Club de Cuervos. “We created it in Mexico for Mexico — and it paved the way for our programming strategy, which is all about local production.

“Being local is very important to us,” Sarandos added. “It’s why all of our series and films in Mexico are made in partnership with local production companies and local partners. Every single one. That means we’re investing in the creative community, and helping talented people find their calling in our industry. But we’re also helping people in other industries make a living, too — from catering and hotels, to transportation and manufacturing.”

He continued: “A film called Roma, which was made here, won the Oscar for best [international] feature — it was a first for Netflix and for Mexico. In fact, it won three Academy Awards on that night. We were also proud to produce Alejandro G. Iñárritu’s Bardo, which was the Mexican submission for the Oscars in 2022. And a year after that, Guillermo del Toro’s Pinocchio won for best animated feature — which was another first for both Netflix and Mexico.”

Source : https://www.hollywoodreporter.com/business/business-news/netflix-mexico-invest-billion-studios-ted-sarandos-1236141749/

The U.S. Securities and Exchange Commission has asked Indian authorities for help in its investigation of Adani Group founder Gautam Adani and his nephew over alleged securities fraud and a $265-million bribery scheme, a court filing showed on Tuesday.
The regulator told a New York district court it was making efforts to serve its complaint on the founder and his nephew, Sagar Adani, and was seeking help from India’s law ministry to do so.

Neither individual is in U.S. custody, and both are now in India.
“The SEC has requested assistance … under the Hague service convention,” it said in the court filing.
Adani Group and India’s law ministry did not immediately respond to a Reuters request for comment.
Last week, Prime Minister Narendra Modi said he did not discuss the Adani case with U.S. President Donald Trump during his visit to Washington, describing it to reporters as an individual issue never discussed by leaders.
India’s opposition Congress party has called for Adani’s arrest and accused Modi of shielding him or favouring him in deals in the past. Modi’s party and Adani have denied the charges.

Last year, federal prosecutors in Brooklyn unsealed an indictment accusing Adani of bribing Indian officials to convince them to buy electricity produced by Adani Green Energy (ADNA.NS), opens new tab, a subsidiary of his Adani Group.
He then misled U.S. investors by providing reassuring information about the company’s anti-graft practices, it added.

Source : https://www.reuters.com/business/us-sec-seeks-indias-help-adani-fraud-probe-2025-02-18/

Nike (NKE.N) will launch a new women’s activewear brand in the U.S. this spring in partnership with Kim Kardashian-owned shapewear label Skims, as CEO Elliott Hill works to broaden its offerings to better compete with upstart brands.
The tie-up is expected to give Nike a leg up in women-centric athleisure brands as it stakes its turnaround on a return to its core sports roots. It currently relies on its men-focused business for more than half of its sales.

The push was evident in Nike’s first Super Bowl ad in nearly three decades, featuring star women athletes including Caitlin Clark and Sha’Carri Richardson.
“The women’s business has faster growth and it has more potential growth in the future. Nike missed out on that opportunity that Lululemon (LULU.O), exploited over the last 10-15 years,” Morningstar analyst David Swartz said.
“The Skims partnership is an effort to grow a little bit faster in that area.”
Nike shares rose 4% on Tuesday and were on track for their best day since Hill’s appointment in September last year.

Demand for women’s high-end joggers and yoga pants has been a growth driver for Canada-based Lululemon, as well as for upstarts such as Alo Yoga and Vuori. It has also helped Gap’s (GAP.N),  brand Athleta turn a corner.
Nike said the new brand, called NikeSKIMS, would include training apparel, footwear and accessories for women.
Skims was launched in 2019 and is valued at around $4 billion. It has seen strong demand for its premium bras, loungewear and shapewear.

Source : https://www.reuters.com/business/retail-consumer/nike-launch-new-womens-fitness-brand-with-kim-kardashians-skims-2025-02-18/

Elon Musk-led Tesla is reportedly hiring in India. The electric vehicle maker sought candidates for 13 roles. This comes after Musk met with Prime Minister Narendra Modi during his recently concluded US trip. A Bloomberg report further claimed that Tesla plans to enter the Indian market.
According to Tesla’s advertisements on its LinkedIn page, these candidates are being considered for roles including customer-facing and back-end jobs.
At least five positions, including service technician and various advisory roles, were open in both Mumbai and Delhi, while other roles, such as customer engagement manager and delivery operations specialist, were exclusively available in Mumbai, the report said.

Tesla had so far refrained from entering the market due to high import duties. However, with India now lowering the basic customs duty on high-end cars priced above $40,000 from 110% to 70%, it has become more favourable for the carmaker.

The Finance Minister (FM) in the Union Budget 2024 has announced that both the LTCG and STCG liability of equity mutual fund investors is subject to an increase of 12.5% and 20%, respectively, effective 23 July 2024.

Union Finance Minister Nirmala Sitharaman introduced the Income Tax Bill, 2025, in the Lok Sabha on Thursday and urged Speaker Om Birla to refer it to a select committee of the House.

Opposition members opposed the Bill at the introduction stage but the House passed a motion by voice vote for its introduction.

Getting to the finer points of the new tax bill, will there be changes in the short-term capital gains (STCG) and long-term capital gains (LTCG)? Let’s take a look:

The taxation will remain the same as the current one.

The government had introduced a simplified capital gains tax regime in 2024 and capital assets taxed under the capital gains regime are divided into two categories –

1. Listed securities

2. Unlisted securities and non-financial securities.

Source: https://www.deccanherald.com/business/new-income-tax-bill-introduced-in-lok-sabha-has-stcg-ltcg-taxation-changed-3404662

Domestic steel industry needs to be on guard as countries exporting to the US may divert shipments to India after the imposition of tariffs, an industry official said on Saturday. With the tariffs announced by the US on steel and aluminium imports, countries sending shipments to America might dump products in India because of huge domestic demand, Jindal Steel and Power Ltd (JSPL) chairman Naveen Jindal said the Global Business Summit (GBS) here.

“So, for that, Indian steel industry would have to be protected from unfair exports happening into India,” he cautioned.

US President Donald Trump has announced 25 per cent tariff on all steel and aluminium imports.

Jindal said the Indian Steel Association has already filed application with the DGTR in this regard which is reviewing it.

Indian steel makers have been consistently raising the issue of dumping of steel into Indian market from select group of countries which has impacted their competitiveness.

Source: https://www.news18.com/business/economy/indian-steel-market-may-see-dumping-due-to-us-tariffs-jspl-chairman-9229139.html

Union Finance Minister Nirmala Sitharaman introduced the Income Tax Bill, 2025, in the Lok Sabha on Thursday and urged Speaker Om Birla to refer it to a select committee of the House.

Opposition members opposed the Bill at the introduction stage but the House passed a motion by voice vote for its introduction.

Getting to the finer points of the new tax bill, will there be changes in the short-term capital gains (STCG) and long-term capital gains (LTCG)? Let’s take a look:

To take matters into perspective, the government had in Budget 2024, changed the capital gains tax regime in July and reports suggest that there are no changes in the capital gains tax regime in the new Income Tax Bill, 2025.

The taxation will remain the same as the current one.

The government had introduced a simplified capital gains tax regime in 2024 and capital assets taxed under the capital gains regime are divided into two categories –

1. Listed securities

2. Unlisted securities and non-financial securities.

The holding period to define capital gains as short-term or long-term is different for both categories of capital assets.

What FM said in Budget 2024

1. The Finance Minister (FM) in the Union Budget 2024 has announced that both the LTCG and STCG liability of equity mutual fund investors is subject to an increase of 12.5% and 20%, respectively, effective 23 July 2024.

2. The FM also stated that the LTCG liability increase to 12.5% is not just for equity mutual fund investments; it applies to any long-term gains from investments in financial and non-financial assets.

3. The budget also mentioned that the STCG liability of investors is increased to 20% for specific financial asset investments like equity mutual funds. Apart from the specific financial asset investments listed in the budget, the STCG increase will not affect other investments in financial or non-financial asset classes.

Source : https://www.deccanherald.com/business/new-income-tax-bill-introduced-in-lok-sabha-has-stcg-ltcg-taxation-changed-3404662

JioStar, a joint venture between Viacom18 and Star India, has launched JioHotstar, merging JioCinema and Disney+ Hotstar into a unified streaming platform. With over 500 million subscribers, JioHotstar aims to enhance India’s entertainment and sports streaming experience.

The platform offers 300,000 hours of content across 19 languages, including Bollywood films, international franchises, and live sports. By combining the libraries of JioCinema and Disney+ Hotstar, JioHotstar delivers a diverse range of content, from Hollywood blockbusters and Indian shows to reality programs and global sports.

“At the heart of JioHotstar is a bold vision—to make premium entertainment accessible to all Indians. Our ‘Infinite Possibilities’ promise ensures that entertainment becomes a shared experience, not a privilege. By leveraging AI-driven recommendations and offering content in over 19 languages, we’re personalizing viewing like never before,” said Kiran Mani, CEO – Digital, JioStar.

JioHotstar uses AI-powered recommendations to tailor the viewing experience. Basic access is available without a subscription, while premium options start at Rs. 149, with seamless transitions for existing subscribers.

The platform places a strong emphasis on sports, providing live coverage of major events like the IPL, ICC tournaments, Premier League, Wimbledon, as well as local leagues such as Pro Kabaddi and ISL. It also offers 4K streaming, multi-angle views, and real-time statistics.

“JioHotstar is setting a new standard for digital-first entertainment. The platform is immersive, inclusive, and audience-focused. With endless entertainment options, we’re committed to continuous innovation, elevating storytelling, and ensuring every Indian, regardless of language, finds content they love,” added Kevin Vaz, CEO – Entertainment, JioStar, highlighting the platform’s broad entertainment offerings.

Source : https://www.news18.com/business/jiohotstar-streaming-platform-is-now-official-as-jiocinema-disney-hotstar-merge-details-here-9226982.html

The proposed income tax bill will be tabled in the Parliament today. At present, there are various deadlines for submitting ITR depending on the category of income taxpayers. Numerous taxpayers are seeking a permanent extension of the ITR filing deadline to have additional time for filing their ITR.

As per an Economic Times report, citing sources, the new income tax bill has not made any changes to the ITR filing deadlines and is likely to continue with the same deadline matrix as before. As per the existing income tax regime, there are different ITR filing deadlines for different categories of taxpayers.
Individuals and other taxpayers whose accounts do not need to be audited must submit the original ITR by July 31 of the assessment year. On the contrary, those taxpayers whose accounts need to be audited are supposed to turn in their audit report by September 30 of the assessment year. Post successful submission of the audit report, taxpayers have to file the ITR by October 31 of the assessment year.

Taxpayers who are involved in international transactions are required to submit the audit report by October 31 of the assessment year. After the audit report is submitted, taxpayers are required to file the ITR by November 30 of the assessment year.

Source : https://www.timesnownews.com/business-economy/personal-finance/new-income-tax-bill-proposal-on-feb-13-will-itr-filing-deadlines-change-article-118178646

Markets regulator Sebi has banned six entities, including Asmita Patel Global School and fin-influencer Asmita Patel, from the capital markets for alleged unregistered investment advisory services and directed to disgorge over Rs 53 crore collected as fees course participants for various courses.

Sebi through an interim order cum show cause notice passed on Thursday prohibited six entities, including Asmita Patel Global School of Trading Pvt Ltd (APGSOT), Asmita Jitesh Patel, Jitesh Jethalal Patel, King Traders, Gemini Enterprise and United Enterprises, from the capital market.

The Securities and Exchange Board of India (Sebi) has also asked the six entities to explain why another Rs 104.63 crore should not be collected as fees for various programmes and should not be seized as well, according to a Sebi order.

The case pertains to individuals enrolling in trading courses provided by Asmita Patel Global School Of Trading. The Sebi order said that they were misled by exaggerated promises of profits and forced into paying high fees for minimal or ineffective trading education.

YouTuber and financial influencer Asmita Patel portrays herself as the ‘She Wolf of the stock market’ and the ‘options queen’ and claimed to have mentored over one lakh students/investors/participants worldwide. As per the complainants, she (Asmita) has assets to the tune of Rs 140 crore using her proprietary system.

The regulator noted that each entity has played specific roles at various stages which have prima facie, been found to violate Sebi’s rules.

Further, Sebi revealed that, prima facie APGSOT along with the Asmita and Jitesh devised a scheme wherein students/investors/participants were lured to trade in specific stocks and told to open a trading account with ABC Ltd.

Recommendations of buy/sell of specific securities were provided and uploaded on telegram channels owned by APGSOT. The acts of the entity make it evident that it was providing investment advice/ research analyst services to students/investors/participants for consideration in the pretext of imparting education, the 129-page order said.

The regulator also pointed out that the APGSOT collected fees from course participants through King Traders, Gemini Enterprise and United Enterprises directing them to pay the course fees to the bank accounts of these entities.

According to Sebi, this was not a one-time arrangement but a regular practice followed by the Asmita Patel Global School of Trading to route funds through different entities.

Sebi noted that these six entities are jointly and severally liable for impounding Rs 53.67 crore collected as fees from participants for courses such as, LMIT (Let’s Make India Trade), MPAT (Master’s in Price Action Trading) and Options Multiplier (OM) offered by the Asmita Patel Global School of Trading.

these practices, APGSOT, its director Asmita, and Jitesh were directed by Sebi to cease and desist from offering unregistered investment advisory or holding themselves out to be as investment advisors/ research analysts.

They have also been ordered to cease to solicit or undertake any other unregistered or fraudulent activity in the securities market, directly or indirectly, in any manner whatsoever, Sebi said.

However, the markets watchdog clarified that findings in this order are prima facie findings and the entities have full opportunity to provide their defence and prove their innocence. This prima facie finding should also be viewed in that manner and should not be taken as a final verdict against anyone.

Sebi has examined APGSOT and its directors following a complaint from a group of 42 investors alleging unauthorised investment advisory activities.

The regulator conducted an examination covering the period from August 2019 to October 2023, focusing on APGSOT, its director Asmita — who is also an authorised person of registered stockbroker ABC Ltd — and Jitesh, along with proprietary firms King Traders, Gemini Enterprise, and United Enterprises.

Source : https://www.news18.com/business/markets/sebi-bans-finfluencer-asmita-patel-5-others-from-market-impound-illegal-gains-of-over-rs-53-crore-9219587.html

Online fast-fashion retailer Shein is set to cut its valuation in a potential London listing to around $50 billion, said three people with knowledge of the matter, nearly a quarter less than the company’s 2023 fundraising value amid growing headwinds.
The company’s business prospects have come under a cloud in recent days after the Trump administration said it would close the “de minimis” duty exemption in the United States, ending an import rule that had helped Shein keep prices low.

The measure’s removal could hurt Shein’s profitability and push up product prices in the U.S., its biggest market, analysts and industry experts have said.
The eventual IPO (initial public offering) valuation will depend on the impact of the end of de minimis on the retailer’s business, one of the people said. Given the removal only took place this week, it will take time to assess, they added.
Shein and rival Temu together probably accounted for more than 30% of all packages shipped to the U.S. each day under the de minimis provision, the U.S. congressional committee on China said in a 2023 report. The measure exempted shipments of less than $800 from import duties.

The sources declined to be named as they were not authorised to speak to the media.
Shein, founded by China-born entrepreneur Sky Xu, did not respond to a request for comment.
The removal of de minimis is part of President Donald Trump’s imposition of an additional 10% tariff on China in what he called an “opening salvo” in a clash between the world’s two largest economies.
Nearly half of all packages shipped under de minimis come from China, according to the congressional committee report.

Shein had been aiming to go public in London in the first half of this year assuming it secured approvals from regulators in the U.K. as well as in China, Reuters reported last month.

The company’s last fundraising round in 2023 valued it at $66 billion, about a third less than its peak a year earlier, sources have told Reuters.
The latest target IPO valuation would mark the retailer’s second consecutive down round, when a company takes a hair cut on its valuation during a funding round.
The reasons were not immediately known.
Shein’s proposed IPO comes at a time when the UK government has been pressuring its regulators to be more pro-growth and has launched an overhaul of listing rules to make London a more attractive market to companies.
A UK government source who declined to be named as they were not authorised to speak about the deal publicly said it was still keen for Shein to launch an IPO in London.
Shein confidentially filed papers with Britain’s Financial Conduct Authority (FCA) in early June, sources told Reuters last year. However, it has taken longer than typically expected for the regulator to sign off on the listing.
The FCA has not made any decision to approve the IPO yet, a separate person said. The FCA declined to comment.
Market experts say it usually takes several months to reach a decision. A spokesperson for the FCA previously said timelines for IPO approval depend on each individual case.

Source : https://www.reuters.com/business/retail-consumer/shein-poised-slash-valuation-50-billion-london-ipo-sources-say-2025-02-07/

On Friday, February 7, the Reserve Bank of India decided to use its scissors, now rusty, to cut the repo rate or the country’s interest rate, by 25 basis points, bringing it down to 6.25 per cent, compared to its previous 6.50 per cent. The interest rates had remained the same for nearly 2 years. This rate cut comes for the first time in 5 years.

The last time, the interest rate was cut, was in March 2020, when the benchmark rate was brought down by 75 basis points to 4.40 per cent.

This was the new RBI Governor, Sanjay Malhotra, a former revenue department bureaucrat’s first MPC meeting, after succeeding Shaktikanta Das.

This was announced by the government’s banker after a 3-day Monetary Policy Committee meeting that concluded on February 7.

The RBI Governor started his post-MPC speech with a great emphasis on maintaining price stability, along with maintaining and aiding growth.

Sanjay Malhotra focused extensively on the pertinence of maintaining price stability.

RBI Slashes Repo Rate

The governor started his address after the 53rd MPC meeting by remarking on the 8 years of the flexible inflation targeting framework.

This framework introduced in 2016, according to the governor, has assisted in bringing about stability in the economy, especially during the pandemic years.

The RBI has retained its GDP projection for the next FY to 6.7 per cent.

On February 5th, Delhi residents will cast their votes for the Delhi Assembly election 2025. Since voting days hold utmost importance in a democratic country, multiple establishments declare the day as a holiday so that people can go and cast their votes and take part in this important political activity. Here is a comprehensive guide on which state-run bodies will remain open on February 5th and which ones will remain closed.
To raise awareness about the importance of participating in election days, the District Election Officer has instructed the Deputy Director of Education to arrange a ‘Prabhat Rally’ on 3rd February at 9:00 AM to promote voter awareness, including students from different schools.

Income Tax: The government provides a Rs 75,000 standard deduction in the new tax regime benefiting salaried individuals and pensioner by simplifying tax filing and reducing tax burden

Filing income tax in India has been quite complicated and difficult, especially under the old tax regime. However, the current government has implemented several reforms to simplify the process. The most significant of these is the new tax regime.

The government previously introduced a valuable provision known as the Standard Deduction, applicable to both the old and new tax regimes. This deduction effectively reduces your taxable income by a predetermined amount. Currently, this amount stands at Rs 75,000 in the new tax regime, compared to Rs 50,000 in the old tax regime. However, this facility is not universally available to all taxpayers. Let’s delve into who qualifies for this deduction and who doesn’t.

Let’s begin by understanding what standard deduction is. Previously, salaried individuals could claim various small exemptions, such as transport allowance and medical reimbursement. They were required to maintain records for each of these, which often amounted to less than Rs 50,000. Managing these small deductions proved cumbersome for employees, companies, and the government alike.

To simplify the process, the government replaced these individual exemptions with a single standard deduction. This allows for a fixed amount to be deducted from the taxable income, streamlining the tax calculation process.

This means that if one’s annual income is Rs 13 lakh and the standard deduction is Rs 75,000, then the taxable income will be Rs 12.25 lakh.

In the Union Budget 2025-26, Finance Minister Nirmala Sitharaman made income up to Rs 12.75 lakh tax-free under the new tax regime. This budget also saw changes to the new tax slabs, with a total of six tax slabs now in place.

Who Are Eligible For This Facility

This facility is primarily for salaried individuals and pensioners. If you are employed and receive a salary, you are eligible. Additionally, if you receive a pension, whether from the government or a private company, you can also avail of this facility. Senior citizens (above 60 years of age) and super senior citizens (above 80 years of age) also benefit from this facility.

Who Are Ineligible For This Facility

While this facility benefits many, certain individuals and entities are ineligible. This includes self-employed individuals and business owners. Additionally, those whose sole source of income is interest, rent, or capital gains cannot avail themselves of this facility. Furthermore, companies, firms, and other entities are not eligible.

Why Does The Government Provide This Facility

The government provides this standard deduction for several reasons. Firstly, it simplifies tax filing. Previously, individuals had to submit numerous documents to avail themselves of small exemptions, but the standard deduction has streamlined this process.

Source : https://www.news18.com/business/income-tax-why-is-standard-deduction-of-rs-75000-given-who-doesnt-qualify-for-it-ws-ab-9213622.html

Reliance Retail has launched an app in India to sell fashionwear from China’s Shein under a licensing deal, almost five years since Shein’s app was banned in the country after getting caught up in a diplomatic tussle.
Reliance, owned by billionaire Mukesh Ambani, launched the app on Saturday morning, said a person with direct knowledge of Reliance’s launch plans. The firm did not announce the launch.

Neither parent Reliance Industries (RELI.NS), opens new tab nor Shein responded to requests for comment outside of business hours.
The Shein India Fast Fashion app represents a departure from Reliance’s strategy of adding brands to its flagship fashion app Ajio – whose offering includes Superdry and Gap – as it competes with rivals such as Myntra from Walmart’s (WMT.N), opens new tab Flipkart.
Shein, founded in China in 2012 and later headquartered in Singapore, offers a vast selection of low-priced Western clothes. Its app was banned in India in 2020 alongside other Chinese apps such as ByteDance’s TikTok due to data security concerns, after a border dispute soured Indo-Chinese relations.

Last year, India’s government disclosed to parliament, opens new tab that Reliance had entered an agreement with Shein under which Indian manufacturers would supply products under the Shein brand. It did not make any other details public.
“The fashion OG (original) is back,” said a message displayed upon opening the app. Deliveries will initially be limited to a few cities including New Delhi and Mumbai and expanded nationwide soon, it said.

Offerings include dresses priced as low as 350 rupees ($4).
Reliance will pay a licence fee for using Shein’s brand name, said the person with direct knowledge of the matter. There is no equity investment in the partnership, the person said, without elaborating on financial arrangements.
All Shein-branded products sold through the app are designed and made in India, said a second person with direct knowledge of the matter. The clothing will later be made available on Ajio, the person said, without providing a time frame.

Source: https://www.reuters.com/business/retail-consumer/billionaire-ambanis-reliance-brings-shein-back-india-after-2020-app-ban-2025-02-02/

Finance Minister Nirmala Sitharaman’s Union Budget 2025-26 has been met with optimism from the real estate sector, with industry leaders praising its focus on infrastructure, tax relief, and liquidity measures while urging more emphasis on affordable housing.

A major highlight of the budget is the increase in the income tax exemption limit to ₹12 lakh, boosting disposable income and encouraging homeownership. The removal of tax on two self-occupied properties is expected to drive fresh investments in residential real estate. “This progressive reform provides significant tax relief and acknowledges the evolving housing needs of Indian families,” said Domnic Romell, President, CREDAI-MCHI.

The increase in the TDS exemption threshold on rental income from ₹2.4 lakh to ₹6 lakh will further support landlords and small taxpayers. Amit Jain, CMD, Arkade Developers, remarked, “These measures will spur housing demand, particularly in metro and Tier-1 & 2 cities.”

The ₹15,000 crore infusion into the Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund 2.0 has been widely appreciated for addressing stalled housing projects and providing relief to homebuyers. “With the completion of 50,000 units under the existing SWAMIH scheme and another 40,000 in the pipeline, this move ensures liquidity and accelerates housing deliveries,” noted Ashwin N Sheth, CMD, Sheth Group.

The budget allocates ₹1 lakh crore under the Urban Challenge Fund to address land and development constraints, fostering robust infrastructure in key urban corridors. The continued capital expenditure of ₹11.21 lakh crore on railways, roads, and logistics is expected to boost economic activity. “A stronger infrastructure framework will transform India into a competitive logistics hub, reducing costs and enhancing efficiency,” said Dr. Niranjan Hiranandani, Chairman, NAREDCO.

The push for Global Capability Centers (GCCs) in Tier-II cities is another welcome move. “Expanding GCC footprints beyond metros will unlock real estate potential and drive regional economic growth,” added Badal Yagnik, CEO, Colliers India.

Despite the positive measures, experts expressed concerns over the lack of specific sops for affordable housing. “A national rental housing policy and higher tax deductions for home loans would have further strengthened the sector,” said Piyush Bothra, Co-Founder & CFO, Square Yards.

Shrinivas Rao, CEO, Vestian, echoed similar sentiments, highlighting the importance of fiscal incentives for affordable housing to ensure inclusive economic growth.

The real estate sector, which employs over 71 million workers, faces a critical skill gap, with 81% of the workforce unskilled. “By 2030, the sector will need 33 million skilled workers. Bridging this gap through policy interventions is essential for sustainable industry growth,” emphasized Dr. Hiranandani.

Overall, the budget has been lauded for its pro-investment stance and long-term growth initiatives. “The continued focus on infrastructure, taxation relief, and economic expansion makes this a well-rounded, growth-oriented blueprint,” concluded Shishir Baijal, CMD, Knight Frank India.

Source : https://www.freepressjournal.in/business/union-budget-2025-real-estate-sector-welcomes-reforms-urges-greater-focus-on-affordable-housing

India will see a massive transformation in railways with 200 new Vande Bharat trains, 100 Amrit Bharat trains, 50 Namo Bharat rapid rail and 17,500 general non-AC coaches expected to be launched in the next two to three years, the ministry said, as it called the union budget “amazing” with an allocation of Rs 2.52 lakh crore for the financial year (FY) 2025-26.

Railways minister Ashwini Vaishnaw said new trains and modern coaches will go a long way in serving the middle-class. “This year’s budget mentions infrastructure development projects of railways to the order of Rs 4.60 lakh crore. Focusing on safety, the budget allocates Rs 1.16 lakh crore for expenditure in this year to augment the safety of Indian Railways through various projects,” he said.

Talking to the media in Rail Bhawan, after the presentation of the budget in Lok Sabha, Vaishnaw also said that it not only seeks to create employment by means of investment, but gives big relief to the middle class with a reduced income tax burden.

Railways will mobilise an additional Rs 3,000 crore from its internal resources, he said.

Reimbursement of losses on the operation of strategic lines has been kept at Rs 2,739.18 crore in Budget Estimate 2025-26 as against Rs 2,602.81 crore in last fiscal’s revised estimates 2024-25.

An amount of Rs 706 crore is provided in this fiscal year towards debt servicing of market borrowings for national projects.

With this, the net revenue expenditure of Indian Railways is placed at Rs 3,02,100 crore in this year’s budget estimate as against Rs 2,79,000 crore in the revised estimate of the last fiscal.

Source : https://www.news18.com/business/200-vande-bharat-100-amrit-bharat-17500-general-coaches-railways-plan-to-pick-up-speed-after-budget-boost-9211341.html

A gender-equal world is still a utopian concept, and while the journey of change has taken flight, there’s still a long way to go. We may be in 2022, but any discourse around menstrual hygiene and sexual wellness is often suppressed by the age-old patriarchal norms. Fortunately, there are several entrepreneurs who are ‘breaking the bias’ and shattering convention to create a safe space for women. These new-age brands cater to the needs of those with vulvas and provide them with solutions that help to enhance their quality of life.

This International Women’s Day, we caught up with some prominent changemakers, who are making a difference with their brands.

1. Neha Kant, Founder and Director — Clovia

Lingerie has always been spoken about in hushed tones in our country. It is hardly uncommon for women to be glared at, when they walk into a lingerie store to shop for innerwear. The experience is rather uncomfortable since these shops are mostly run by men.

For Neha, who grew up in Haridwar, it was her mother, who would do underwear shopping for her. Everything was based on trials and guesswork, which left the young girl devoid of confidence. When she stepped out of her hometown to pursue her higher education, started working in New Delhi and travelled abroad, Neha realised that the evolution of innerwear had not kept pace with the fast-changing outerwear fashion.

“To bridge the existing gap in the lingerie space, I decided to dive into the business with the help of my husband and was ably supported by a tech specialist and an experienced lingerie expert. That’s how Clovia was born in 2013,” she says.

The brand believes in bringing world-class products to Indian customers at the right price point. They have a proprietary algorithm based on ‘Clovia’s Fit Test’, which asks women five questions about their body type and accordingly recommends the right bra.

“Earlier this year, we also launched Bra-Bot, an online AI-based chatbot curated to help one buy the right innerwear and other categories. This is part of Clovia’s continued effort to bring its online shopping experience closer to an assisted offline store experience,” she adds.

Clovia launches 200+ styles per month and over 75% of the inventory is less than 30 days old. They also offer 75+ sizes across 12+ categories and address 18 body types.

The brand has also recently ventured into the personal care category to cater to the needs of new moms and urban millennial women.

2. Tanvi Johri, Co-founder and CEO — Carmesi

Like several other women, Tanvi, too, was a victim of rashes caused by sanitary napkins and would dread her period every month. Although she tried looking for alternatives, there was no solution in sight. Another issue that troubled her was the unhygienic disposal of sanitary napkins.

“I started researching more about these things, and that’s when I realised that rashes are taken seriously only when they appear on the face or are associated with beauty. These allergies are triggered by the use of certain ingredients in sanitary napkins. This is what I wanted to change with Carmesi,” she says.

The eco-conscious brand makes biodegradable sanitary napkins using plant-based materials like corn fibre that are devoid of harsh chemicals. These sanitary napkins also come with a disposable bag made from oxo-biodegradable material.

Carmesi has always been big on innovation and has also launched products that may be too niche, but try and provide a solution to women’s problems.

“We created the world’s first and only solution to bra stress called BREASE, after taking into account the challenges of women in our office. The product may not be getting us too much revenue, but our customers love it,” she says, adding that they have also launched a natural deodorant roller with 95% natural ingredients, and an entire skincare range for hormonal acne.

Apart from selling other period care and intimate care products, Carmesi has also made inroads into hair removal, and the health and nutrition category. As they continue to grow by leaps and bounds, Carmesi also plans to make its presence felt in the offline space.

3. Aruna Chawla, Founder — Salad Condoms

How many times have you felt awkward walking up to a pharmacist, and asking for a condom? The feeling is all too familiar, right? This is exactly what happened with Aruna. As a consumer psychologist, she studied purchase patterns and buying behaviour closely and came up with Salad, a non-toxic, eco-conscious, and ultra-thin vegan condom brand.

As the youngest woman to start a condom brand in India, she had her fair share of challenges and was subjected to lewd remarks on social media. It wasn’t just trolling that she had to deal with — it was a hard task to convince manufacturers to associate with her brand, but eventually, she succeeded.

Aruna has been “open and transparent” in her approach and that reflects in everything Salad does. Scan the QR code on the packaging, and you can read all about the ingredients that go into making the condom. Moreover, Salad is the only condom brand that not only focuses on pleasure but also emphasises on the health angle. “Salad has committed 15% of its profits to enable sex education in schools and colleges in India. We are also building a new product that’s under beta testing right now that will help users learn the language of their bodies anytime, anywhere,” says Aruna.

4. Sujata Pawar, Founder — Avni