BUSINESS
Reimagining Microfinance’s Journey: Old roots, new routes
Microfinance in India is evolving amid digital disruption, changing borrower needs, and regulatory shifts. Embracing technology, personalised credit, and strategic partnerships is key to sustaining its role in empowering underserved communities and driving inclusive growth
WORLD
Trump’s premature message on the ceasefire is a setback for India-US ties
The American president’s social media messages about the ceasefire between India and Pakistan are bound to be disquieting for both Indians and neutral observers. From indicating an equivalence between the two countries to going back to hyphenating them, the tenor was inconsistent with reality. This setback may be because of the recent churn in the Trump administration.
INDIA
India’s sugar sector stable with positive outlook for 2025
The Indian Sugar and Bio-energy Manufacturers Association confirms stable sugar supply for 2024–25, driven by consistent production, timely farmer payments, and controlled exports. A favourable monsoon and improved cane varieties support a strong outlook for 2025–26
BUSINESS
War, insurance, and the limits of protection amid India-Pakistan tensions
Standard insurance policies in India exclude war-related losses, covering only specified risks like terrorism. Courts uphold these exclusions, leaving peace and diplomacy as the only true safeguards in conflict zones
POLITICS
The making of India’s drone military-industrial complex
Operation Sindoor and its aftermath heralded the age of drone warfare in the Indian subcontinent. India’s drone manufacturing ecosystem proved its mettle last week. Populated by both startups and old industrial houses, the drone ecosystem now needs to add scale and quicken the pace of technological absorption. The government can help by compressing timelines in drone procurement
BUSINESS
The Reading List: May 9, 2025
A selection of articles and social media gems from the world of economy, business and finance, curated by our research and opinion teams
BUSINESS
Chart of the Day | Low rated NBFCs saw growth, profitability plummet in FY25
Given their low rating, these NBFCs cannot access bond markets easily.
BUSINESS
Chart of the Day | Surge in exits augurs well for PE:VC investments
The share of exits via the public market route rose from 38 per cent of the total value of exits in 2022 to 59 per cent in 2024.
INDIA
Safeguarding the eye in sky
Drones are crucial in both civilian and military usage. They are vulnerable to jamming, spoofing and hacking. To safeguard drones in India against these threats, it’s essential to source drone components from countries which are trusted partners
BUSINESS
Trade wars and global economic uncertainty
Global economic uncertainties from trade tensions, geopolitical conflicts, and volatile oil prices are straining credit markets. This article talks about the impact on credit markets in India
BUSINESS
India's Natural Gas Challenge: Escaping the vicious price-demand loop
India’s natural gas push shows strong infrastructure growth, but demand lags due to pricing, limited uptake, and policy gaps. Success depends on aligning supply with affordability, accessibility, and demand-driven strategies to avoid underutilised assets
BUSINESS
India’s capital is coming home & and it’s not stopping at the Sensex
In 2025, domestic institutional investors surpassed foreign ones in NSE-listed firms, reflecting rising Indian investor confidence, deeper market participation, and a transformative shift towards financial self-reliance in both public and private capital markets
BUSINESS
US-Ukraine critical mineral deal rests on heroic assumptions
US involvement in Ukraine’s critical mineral sector may not have a compelling economic rationale, but it justifies further US involvement in Ukraine and the post-war reconstruction of the country
BUSINESS
A practical alternative in Bhushan Steel insolvency case
Supreme Court found procedural flaws in the resolution and also concluded that the conduct of critical stakeholders was dubious. Given that the resolution had already been implemented and the company is running, the Court could have ordered parties it found guilty to pay compensation. Unravelling a done deal will have consequences that will ripple out across the economy
BUSINESS
Chart of the Day: The underbelly of digital piracy
According to a CII report, piracy could cost India's digital video sector $2.4 billion and lead to a loss of 158 million users by 2029.
BUSINESS
The Reading List: May 2, 2025
Our research and opinion teams have curated a selection of articles and social media gems from the world of economy, business and finance for your weekend read.
POLITICS
Focus on justice for Pahalgam massacre, but do not forget the vulnerability of Chicken’s Neck
This narrow corridor connects India’s northeast to the rest of the country. Increasingly hostile statements about India’s territorial integrity from members of Bangladesh’s government indicate that India cannot for a moment lower its guard. The eastern front is no less important than the western front
BUSINESS
Chart of the Day: Will rise in private capex be just a forever hope?
Capex intentions in some sectors, however, are expected to rise in FY26.
LIFESTYLE
Has digital abundance created human scarcity?
This piece explores how digital platforms have evolved by redefining scarcity, from information to human connection, and argues that the next frontier lies in fostering genuine relationships through community-building and technology that enhances real-world interactions
POLITICS
Dredge Wular Lake to maximise the positive spinoff of holding IWT in abeyance
The size of this massive freshwater lake needs to be increased from 29 to 100 square kilometres. Dredging’s in line with the even the treaty provisions and something Pakistan has tried to prevent through a terror strike. Dredging will allow to India to reduce the flow of Jhelum into Pakistan
BUSINESS
AI and Competition: CCI weighs risks of algorithmic collusion
As AI tools reshape pricing and competition dynamics, regulators like the CCI are scrutinising their potential to enable collusion. A nuanced, case-by-case approach is essential to balance innovation with market fairness and accountability
POLITICS
Indus Waters Treaty: No immediate impact, but Pakistan will hurt later from data paucity
Keeping the Treaty in abeyance will not stop any water from flowing to lower riparian Pakistan. Leave aside the waters from the Western Rivers, even the water from Ravi which goes into Pakistan, and which is India’s share under the Treaty, will continue to flow unhindered. What can happen is a breakdown in data sharing mechanism, which will hurt Pakistan during monsoon and winter
BUSINESS
America’s messy Afghan withdrawal has left the region awash with arms
When the US hastily withdrew from Afghanistan in August 2021, it left behind an arsenal estimated to be worth $7 billion in military hardware. The spillover effects are visible in Pakistan and, to a certain extent, in Jammu and Kashmir. Between 2022 and 2024, a series of recoveries, particularly across Jammu’s Doda-Kishtwar-Kathua-Udhampur belt, some featuring night-vision devices, suggests a potential cross-border influx of advanced gear
BUSINESS
MSMEs brace for a challenging year
Even before tariff-related uncertainty worsened economic outlook, MSMEs witnessed a slowdown in sales growth last. Trump tariffs will have both a direct impact and an indirect one on the segment. To help them, the government, in addition to its ongoing tariff negotiation with the US, needs to address issues undermining competitiveness
