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Introduction: Remembering a Titan of Indian Industry October 9, 2025, marks the first death anniversary of Ratan Naval Tata (1937–2024) , one of India’s most respected industrialists, philanthropists, and global business icons. His name stands synonymous with trust, ethics, and nation-building. As India pays tribute to the man who shaped its modern industrial landscape, it’s important to reflect on how his vision, leadership, and humanity transformed not just the Tata Group, but India’s global image. Who Was Ratan Tata? Born on December 28, 1937 , into the prominent Tata family, Ratan Tata was the son of Naval Tata and Soonoo Commissariat . He was raised by his grandmother, Lady Navajbai Tata , at the Tata Palace in Mumbai. Educated at Cornell University , where he earned a degree in Architecture and Structural Engineering, Ratan Tata later completed the Advanced Management Program at Harvard Business School. He joined the Tata Group in 1961, starting his career at Tata Steel in Ja...

Introduction In a landmark decision, the Supreme Court of India has restored JSW Steel’s ₹19,700 crore resolution plan for Bhushan Power & Steel Ltd (BPSL). The ruling reverses the Court’s own May 2025 verdict that had ordered liquidation of the debt-ridden company, thereby reaffirming the sanctity of India’s Insolvency and Bankruptcy Code (IBC). This judgment brings clarity to one of the most contentious insolvency cases in recent years and ensures stability for lenders, resolution applicants, and the insolvency ecosystem at large. Background: The BPSL Insolvency Bhushan Power & Steel Ltd (BPSL), part of the group of 12 large corporate defaulters identified by the Reserve Bank of India in 2017, defaulted on loans exceeding ₹47,000 crore. Following a competitive bidding process, JSW Steel emerged as the top bidder in 2018, offering ₹19,700 crore. The plan received approval from 97% of lenders, was cleared by the National Company Law Tribunal (NCLT) in 2019, and upheld by ...

The Indian government has permitted manufacturers, packaging firms, and importers to revise the Maximum Retail Price (MRP) of unsold stock to reflect the recently announced GST reforms. The revision will be allowed until 31 December 2025 or till stocks last—whichever is earlier. Transparency in Price Revision Union Minister for Consumer Affairs, Food, and Public Distribution, Pralhad Joshi , clarified that the revised prices must reflect only GST changes . Importantly, the old MRP must remain visible on the packaging. Any increase or decrease in price should directly correspond to GST rate revisions, ensuring that companies do not exploit the reform to arbitrarily increase prices. This safeguard, Joshi stated, is aimed at transparency and protecting consumer interests . Guidelines for Implementation According to the Ministry of Consumer Affairs notice: The new MRP can be stamped, stuck, or printed on the packaging. Overwriting is not allowed ; the original MRP must re...

The Goods and Services Tax (GST) Council has approved the most comprehensive restructuring of India’s GST system since its inception in 2017 , cutting taxes on over 90% of goods. The reforms, announced by Union Finance Minister Nirmala Sitharaman after the 56th GST Council meeting , simplify the GST structure into two principal slabs— 5% and 18% , with a special 40% tax rate for luxury and sin goods. The new rates will take effect from September 22, 2025 . Largest Tax Reform Since 2017 The GST overhaul aims to boost domestic consumption at a time when India’s exports are facing global headwinds, especially due to increased tariffs from the United States. Key highlights: Reduction from four slabs (5%, 12%, 18%, 28%) to two slabs (5% and 18%) A special 40% rate for high-end goods and sin products Net revenue implication : ₹48,000 crore based on FY24 consumption data Objective: To stimulate demand, ease compliance, and simplify GST for businesses Centre’s Push for...

Trump's 'Good Step' or Geopolitical Misunderstanding? Former U.S. President Donald Trump’s recent comments have reignited international debate on India’s energy policy. Speaking to the media, Trump claimed that India may be halting purchases of Russian oil , calling it “a good step”—a statement that echoed earlier assertions made by U.S. Secretary of State Marco Rubio. But India’s Ministry of External Affairs (MEA) responded swiftly, clarifying that no such decision has been made , and reaffirming that India’s energy procurement is guided by national interest and market dynamics . The Background: What's Driving the Noise? On July 31, media reports (including Reuters) claimed that Indian state-owned refineries had suspended Russian oil purchases in response to narrowing discounts and U.S. tariff threats . This fueled speculation in Washington and beyond, culminating in Trump’s Friday remarks. Yet, according to senior Indian officials, this narrative is misleading ...

🔍 Geopolitical Tensions Threaten India’s Fiscal Stability As tensions between Iran and Israel escalate, the economic fallout is becoming more visible—particularly for energy-import-dependent countries like India. A recent report by ICRA has flagged that if crude oil prices jump by $10/barrel amid West Asia instability, India’s Current Account Deficit (CAD) could widen by 0.3% of GDP . This would mean a jump of $13–14 billion in net oil imports, putting pressure on the country’s balance of payments. Currently, ICRA estimates India's CAD for FY26 at 1.2–1.3% of GDP , assuming oil remains around $70–75 per barrel . However, if prices move into the $80–90 range , the CAD could hit 1.5–1.6% , significantly impacting the rupee’s stability against the US dollar. 🚢 Strait of Hormuz: A Critical Choke Point The biggest concern? Iran’s warning to close the Strait of Hormuz —a crucial maritime route through which 20% of the world’s crude and LNG supplies are shipped. India imports...

🇮🇳 India’s Market Borrowing Shows Disciplined Stability: SBI Report India’s sovereign borrowing strategy is evolving with stability and prudence , even as its economic expansion requires rising capital. The State Bank of India (SBI) in its latest research (as of June 13, 2025) confirms that net borrowings remain under control , and the government is showing fiscal restraint in line with FRBM (Fiscal Responsibility and Budget Management) Act objectives.

India Maintains Strong Growth Amid Global Headwinds India’s economy has once again defied global slowdowns and inflationary pressures. According to the CareEdge Economic Pathways Report , India’s real GDP grew by 7.4% in Q4 FY25 , pushing the overall annual growth to 6.5% , beating analyst expectations. Though slightly moderated from the 8.4% average of the past two years, this growth solidifies India’s place among the fastest-growing major economies. Key growth drivers: Construction sector surged 10.8% in Q4. Manufacturing and private investments improved , though consumption slightly slowed. Rural demand stayed robust due to rising wages, despite mixed urban demand. Retail inflation cooled to 3.2% in April 2025, the lowest since August 2019, with food inflation easing due to strong Rabi harvests and water reserves. However, concerns remain over falling household savings , which declined for a third straight year to 18.1% of GDP , with financial liabilities risin...

 

 

RBI’s Risk Buffer Strategy Signals Long-Term Financial Resilience In a recent report, ICICI Bank highlighted that the Reserve Bank of India’s (RBI) decision to maintain higher risk buffers will significantly strengthen its balance sheet while providing a stable foundation for India's macroeconomic outlook . This comes at a time when global oil prices are anticipated to stay benign, offering additional support to India’s inflation and fiscal management efforts. According to the report, the RBI’s robust risk buffers not only enhance its financial resilience but also act as a macroeconomic tailwind . ICICI Bank noted: “We believe higher risk buffer by RBI strengthens its balance sheet and provides a tailwind for India’s macroeconomic fundamentals when oil prices too are expected to be benign.” RBI’s Balance Sheet Expands at a Slower Pace Than GDP Growth The RBI’s balance sheet grew to ₹76.3 trillion in FY25, marking an 8.2% increase from the previous fiscal year. How...

India’s Economic Growth Surges in Q4 FY25 India’s economy continues to assert its strength on the global stage. The latest GDP numbers indicate that the Indian economy grew by 7.4% in Q4 of FY25 , a sharp increase from the 6.2% growth in Q3 , and higher than the Reserve Bank of India’s (RBI) projection of 7.2% for the same period. For the full fiscal year 2024-25 (FY25), India’s economy registered a 6.5% growth , in line with estimates and maintaining its position as the world’s fastest-growing major economy . Key Drivers of Growth: Domestic Consumption & Government Investment Economists attribute this robust growth to strong domestic consumption , sustained government capital investment , and a relatively low dependence on exports . According to Manoranjan Sharma , Chief Economist at Infomerics Valuation and Rating, this growth reinforces India’s economic resilience and its consistent lead among global peers. Rural Recovery and Sectoral Expansion Anshuman Magazine , Chairman a...

Sensex and Nifty Rally on Positive Global Cues Indian equity indices rebounded sharply on renewed optimism over a potential India-US trade deal and favorable global cues. The BSE Sensex surged 1,200.18 points , or 1.48% , to close at 82,530.74 , while the Nifty 50 climbed 395.20 points , or 1.60% , ending the day at 25,062.10 . This rally came after a subdued start to the trading session, where the Nifty 50 briefly dipped to an intraday low of 24,494 before staging a strong recovery past the psychological 25,000 mark , reaching a high of 25,116 . Broad Market Participation Signals Strong Sentiment Market breadth was overwhelmingly positive. Out of all the traded stocks, 2,511 advanced , 1,302 declined , and 139 remained unchanged , indicating broad-based buying interest across the board. Among the top gainers on the NSE were: Hero MotoCorp JSW Steel Trent Tata Motors HCL Technologies On the volatility front, the India VIX (a measure of market volatility) fe...

  India’s Space Policy Set to Accelerate Growth, Says Envoy Anupam Ray India’s growing ambitions in the space sector received a major endorsement at the Carnegie Global Technology Summit 2025 , as Ambassador Anupam Ray , Permanent Representative of India to the Conference on Disarmament, lauded the country’s evolving space policy. Speaking to ANI on the sidelines of the summit, Ray emphasized how the government's latest reforms will place India on a “much higher growth trajectory” by integrating private sector innovation and scientific excellence into the national space agenda. According to Ray, India has already demonstrated substantial capabilities as a space-faring nation — from satellite fabrication and launch to managing complex applications and space situational awareness. These capabilities have made India one of the few countries from the Global South to achieve such status. The government’s new space policy initiatives aim to: Leverage private sector capabilities and...

Massive Tariff Hike by China in Retaliation In a sharp escalation of the ongoing trade conflict, China has announced an increase in tariffs on US goods—from 34% to a steep 84%—starting April 10. The move comes directly in response to US President Donald Trump’s imposition of a 104% tariff on Chinese imports, declared during the US "Liberation Day" address. The tariff war between the two largest economies has been intensifying. President Trump warned that unless China rolled back its 34% tariff within 24 hours, the US would impose additional duties and halt all ongoing talks. China’s decision to raise tariffs by 50 points—mirroring the US move—signals a strong and calculated response. White House’s Aggressive Stand White House Press Secretary Karoline Leavitt defended the 104% tariff, asserting that retaliation was expected and that the US would “punch back harder.” She emphasized that the Trump administration is no longer willing to tolerate trade practices that, in its ...

Monetary Policy Update: Repo Rate Reduced to 6% In a proactive move aimed at supporting domestic economic recovery amidst rising global uncertainties, the Reserve Bank of India (RBI) on Wednesday announced a 25-basis-point cut in the repo rate , reducing it from 6.25% to 6% . This decision was made during the three-day Monetary Policy Committee (MPC) meeting held on April 7–9 , and it marks the second consecutive repo rate cut, following a similar reduction in February 2025. RBI Governor Sanjay Malhotra announced that the decision was taken unanimously after a detailed macroeconomic review. The aim is to stimulate growth while keeping inflation under control. Global Outlook Influencing Policy Decisions Governor Malhotra noted that global economic conditions are shifting rapidly, largely due to recent tariff-related developments and trade tensions. These have led to increasing uncertainty in international markets, causing volatility in commodity prices, and posing challenges ...

Heavy Foreign Portfolio Investor (FPI) Outflows Hit Indian Markets In the wake of US President Donald Trump’s aggressive reciprocal tariff announcement , foreign investors have begun a significant retreat from Indian equities. According to data from the National Securities Depository Ltd (NSDL) , FPIs sold equities worth ₹10,355 crore between April 2 and April 4 , marking one of the steepest outflows in recent times. From Easing in March to Panic in April March had witnessed a moderation in foreign outflows , with net selling reduced to ₹3,973 crore —a major improvement from February’s outflows of ₹34,574 crore . However, April began on a volatile note, with global market panic following President Trump’s tariff declaration on multiple nations , including India. The announcement, coinciding with US Liberation Day , triggered a global sell-off. In just two days , the US stock market lost around $5.4 trillion in market capitalization, sparking widespread investor anxiety. Rippl...

Asian stock markets witnessed a sharp decline on Thursday following the announcement of new tariffs by US President Donald Trump. The decision to impose reciprocal tariffs on multiple countries, including India, has sent shockwaves through global financial markets. Major Indices Take a Hit Japan’s Nikkei 225 fell 2.69% Hong Kong’s Hang Seng Index declined 1.80% South Korea’s KOSPI Index dropped 1.3% US stock market futures also tumbled, with Dow Jones Futures down by 1.78% India’s Stock Market Feels the Heat Gift Nifty Futures fell by 1.11%, indicating a weak opening for the Indian markets Market experts predict economic and financial strain due to the tariffs Banking and market expert Ajay Bagga warned that falling exports and declining margins could hurt India’s economy Safe-Haven Investments Surge With market uncertainty rising, investors are shifting towards: Gold Japanese Yen Swiss Franc Japanese Government Bonds Trump’s Tariff Impact o...

  The Employees' Provident Fund Organisation (EPFO) has expanded its banking partnerships by adding 15 more public and private sector banks . This development aims to enhance direct payment access for employers and streamline provident fund contribution collections, increasing efficiency and reach. Expansion of EPFO’s Banking Network EPFO has now partnered with a total of 32 banks to facilitate seamless contribution payments from employers. The inclusion of these 15 additional banks is expected to enable direct payment of nearly ₹12,000 crore annually . Employers maintaining accounts with these banks will now have easier and more direct access to deposit monthly contributions. EPFO's Growing Role in Social Security EPFO plays a crucial role in ensuring financial security for millions of employees in India. It currently serves 8 crore active members and 78 lakh pensioners . The expansion aligns with India's vision of "Naya Bharat" , a...

Indian stock markets opened flat on Friday , balancing between bullish optimism and bearish caution as traders adjusted their positions at the end of the month and financial year. Market Opening Figures The benchmark indices opened with minimal gains: 📌 Nifty 50 : Opened at 23,600.40 points , gaining 8.45 points (+0.04%) . 📌 BSE Sensex : Opened at 77,690.69 , rising by 84.26 points (+0.11%) . Experts noted that the markets are benefiting from strong domestic macroeconomic conditions , but global uncertainties —including rising tariffs and geopolitical factors—are keeping investors cautious. Market Sentiment: Muted Volumes Expected With a long weekend ahead (as Monday is a market holiday in India) and the March FY2025 expiry settled on Thursday , analysts predict low trading volumes and position squaring-off by the afternoon. Ajay Bagga, a banking and market expert , explained: 🔹 "Expect muted volumes and squaring off of positions by afternoon to avoid exposure ...