BUSINESS
OPINION | IPO Journeys: No standard blueprint applies
It can be tempting to draw parallels and make comparisons between prominent companies, especially those under the same corporate umbrella. For example, while evaluating the IPO prospects of PhonePe (which has filed for a mega Rs 12,000 crore IPO), versus Flipkart, such direct comparisons can be misleading. These two entities, despite their shared Walmart parentage, operate on fundamentally different business models
BUSINESS
The Modinomics Buffet: Significant progress mixed with works in progress
India's economic landscape has undergone significant transformations, driven by strategic reforms and technological advancements, but some pain points need policy attention and implementation ironing.
INDIA
India’s atmanirbhar reforms doctrine is about self-respect and self-reliance: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman emphasized the government's commitment to accelerated reforms, protecting exporters, and expanding economic growth into new areas, despite the challenges posed by US tariffs. In an interview to Network18 Group Editor-in-Chief Rahul Joshi, Sitharaman stated that India will continue buying Russian oil if it serves the economy's interests, dismissing US President Donald Trump aide Peter Navarro's remarks as a "divide and rule" tactic. The government is preparing a relief package to support industries hit hardest by the 50% US tariffs, the government is working on measures to cushion the impact, including interest subvention schemes and export credit support.
BUSINESS
GST rate cut could set off consumption spike as economy sets eyes on faster track
With the new rates kicking in on September 22, just in time for the festive season, consumers can expect lower prices on essential items from soaps to cars. The tax cuts also extend to intermediates like cement, which could lead to reduced construction costs and create jobs. Paired with the recent income tax rate changes, this overhaul signals the government's focus on empowering India's vast consuming middle class to drive economic growth.
WORLD
Alaska P&L: Trump’s maximalism hits sobering reality as Putin wins the PR round
Trump's signature bravado was tempered by Putin's steady stance, leaving the war in Ukraine an unresolved puzzle, raising a critical question: did Trump end up conceding too much at a summit that promised too much, but delivered too little for Washington. Here’s a low down of the balance sheet at Anchorage.
INDIA
PM Modi unveils ambitious plan for atmanirbhar India; walks the talk on next-gen reforms
In his Independence Day speech, PM Narendra Modi outlined a bold plan to make India self-reliant (Atmanirbhar Bharat) through next-generation reforms, job creation, and simplified tax rules. He announced a national task force to accelerate growth, a new job scheme (PM Viksit Bharat Rozgar Yojana) to create 3.5 crore jobs, and a simplified GST framework to be announced by Diwali. Modi emphasized the importance of manufacturing, defence production, and critical minerals, and vowed to remove bureaucratic hurdles to boost homegrown industries.
BUSINESS
Infant industry paradox: Trump's tariffs raise questions about US protectionism
Many goods that are exported to the US are from factories contracted in India by some iconic US corporations. Apple is an example. Levis Strauss & Co. is another. These aren’t `infants’ that need tariffs to ringfence them from competitive pressures. They are matured giants with a storied legacy, who have set up supply lines across the world
BUSINESS
Tariffs as a catalyst for another 1991 moment: Trump tantrums can spur India towards reforms
A strategic pivot towards strengthening domestic consumption and internal growth drivers can become a powerful mitigating factor against external pressures, such as tariffs
BUSINESS
Vodafone Idea's Struggle vs BSNL's Resurgence: A tale of two telecoms
State-owned BSNL has reported two consecutive quarterly profits, a first in 18 years, while private sector giant Vodafone Idea continues to struggle with losses. Dues not paid to the government is public money, and such funds should not be available to throw around for running loss making private companies
BUSINESS
Don’t get caught in the FDI ‘Net’. What data doesn't reveal about India’s investment appeal
During 2024-25, many foreign investors divested their Indian operations through initial public offerings (IPO), making significant returns on their investments in some of India’s trailblazing startups. Private equity and venture capital funds realised a total of US$26.7 billion in exits, representing a 7% year-on-year increase. Another central element in this focus is about the analytical markers, itself. It may be worthwhile to analyse FDI inflows as a percentage of gross domestic product (GDP) on a cross-country basis
POLITICS
Modi’s Op Sindoor Address: National interest, geostrategic calculus, and the art of communication
PM’s address to the nation conveyed a multifaceted message, targeting Pakistan, the international community, and the Indian public.
POLITICS
War Economics: The Kargil cess template and market’s irrationality
The Kargil War led to increased defence spending, tax reform, and military modernisation in India. It also exemplified the 'war puzzle', where anticipated conflict boosts markets, while surprise wars trigger negative investor reactions
BUSINESS
Beyond Handouts: India's inclusivity push must shift from cash to careers
The stakes are high, and India’s economic future depends on its ability to equip its workforce with the skills required to compete in an increasingly complex and automated global economy
BUSINESS
Fiscal fortitude: India’s debt-to-GDP record dwarfs shaky G7
Budget marks a significant shift from a qualitative goal to a specific, measurable target to 50 per cent by 2031. Since 2013, India's average central government debt-to-GDP ratio has been 49.03 per cent. The USA’s central government debt-to-GDP ratio has remained above 100 per cent since 2020, as also Japan’s, Italy’s and UK’s (barring 2022, when it was marginally lower)
BUDGET
FM Nirmala Sitharaman bets on salaried middle class to power economy
No taxes upto Rs 12 lakh annual income set to boost consumption spending; stays the path on fiscal consolidation with fiscal deficit target of 4.4 pc in FY26; farm economy in FM’s focus too with a slew of measures.
BUDGET
FM walks the talk on budget discipline; fiscal deficit target set at 4.4 per cent of GDP for FY 26
Primary deficit pegged at 0.8 per cent; debt-to-GDP ratio targetted to be brought down to 50 per cent (+_1) by 2031; another year of RBI dividend bonanza expected.
BUSINESS
GDP to grow at 6.3-6.8% amid global headwinds; eco survey asks govt to 'get out of the way' for businesses to prosper
Economic Survey sounds siren on protectionism and supply chain disruptions; industry needs to pick the tab on investment; jobs face AI reckoning.
BUSINESS
Budget making in times of complex constrained optimisation
Finance minister Nirmala Sitharaman has an opportunity to trigger the right catalysts to unleash entrepreneurial animal spirits, and remain relentlessly focused on infrastructure-led growth and job creation
BUSINESS
Tale of two halves: GDP growth moderates in Q2, but early signs of rebound seen in second half
The latest batch of high-frequency indicators suggests that India's economy has regained some momentum in October. Inflation, however, remains the elephant in the room that can potentially spoil the recovery party in H2.
BUSINESS
India’s Q1 GDP growth at 6.7 percent still towers over rest of the world
One of the surest signs of consumer spending can be seen in shopping malls and car showrooms. The data for the first quarter clearly suggest that consumer confidence is cheerful.
BUSINESS
Moderating inflation is a good sign, but private sector 'crowding in' needed in investment
If the inflation trendline holds for two more months, the RBI could well look at lower interest rates ahead of the festival season in October, the time when consumer buying peaks. The laggard, however, is the capital goods output, a proxy measure investment activity. A similar trend is noticeable in intermediate goods, where growth has plateaued.
BUSINESS
MC Opinion: Hindenburg questions India’s judicial system's fairness, SC included. This requires extensive substantiation
The latest report seems thin on details and lacks investigative rigour. It needs to be supported by enough corroborative evidence to substantiate the claims and not risk Hindenburg’s credibility.
BUSINESS
SEBI needs to find a fine balance between regulation and market development on index derivatives
The regulator should keep one eye firmly on efficient price discovery, which is the core staple of a well-regulated capital market. This is a complex trade-off for SEBI to make
BUSINESS
FM Sitharaman stands firm on fiscal discipline; RBI dividends help in juggling post-poll necessities
Fiscal deficit pegged at 4.9%; lower primary deficit target at 1.4% mirrors recovery in public finance health; rise in revenue expenditure to address political economy pain points; balancing of the fisc predicated on robust GST, corporate and individual income tax collections.
