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Friday, 18 July 2025

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India is considering relaxing strict localisation rules for electric vehicle (EV) makers as a deepening shortage of Chinese rare earth magnets threatens production and subsidies.

These magnets, crucial for EV traction motors, have become harder to source after China tightened export controls. Automakers are exploring importing fully built motors to cope, but doing so disqualifies them from claiming incentives under key schemes like PLI-Auto and PM E-Drive. 

Now, the Centre has asked testing agencies like ARAI to assess the impact of a temporary relaxation. With rising import costs and policy deadlines looming, the move could offer short-term relief. But will it undermine India’s long-term goal of building a self-reliant EV supply chain?

BSE Sensex

82,259.24 (-0.45%)

NIFTY

25,111.45 (-0.40%)

Dollar/Rupee

₹86.07 (+0.22%)

Gold

₹97,348 (-0.45%)

Crude oil

₹5,732 (+0.33%)

Bitcoin

₹1,02,20,559.32 (+0.25%)

*As of 8.05 PM, 17 July; MCX, CoinDCX

India’s $280 billion IT industry faces a turbulent FY26

Early Q1 earnings show that India’s IT services sector is navigating tough terrain. Revenue growth is muted, discretionary tech spending is delayed, and uncertainty around US tariffs is rattling consumer-facing sectors like auto and retail. Even bellwethers like TCS and HCLTech missed estimates, while Accenture flagged slowing bookings. At the same time, AI, especially agentic AI, is emerging as a new battleground. The big question: can India’s tech giants reinvent themselves fast enough to stay relevant? Read more

Fertility startups bloom as India’s IVF market matures

India’s booming IVF sector, projected to nearly double to $1.45 billion by 2027, is drawing a new wave of tech-savvy fertility startups. Backed by rising incomes, later-life pregnancies, and increasing infertility, ventures like Luma Fertility, Arva Health, and Inito are offering everything from at-home hormone tracking to full-stack IVF services. At least 37 fertility startups have sprung up since 2021, raising $86.4 million so far. Now, big players are eyeing these startups for innovation and possible acquisition. Can these young ventures scale up while keeping their personal touch and trust factor intact? Read on

Govt begins tax revamp, more reforms to follow

India’s new Income Tax Bill, set to be tabled in Parliament’s monsoon session, is just the beginning. While the legislation aims to rewrite and simplify the six-decade-old tax code, the government sees this as a foundation for more substantial reforms in the years ahead. The Bill, which will take effect from 1 April 2026, reorganises the law for better clarity but leaves complex issues, like taxing digital services and reworking capital gains, largely untouched. As cross-border digital transactions rise and tax complexity grows, can simplification alone future-proof India’s tax system? Read more

Big move from public banks amid falling deposits

As savings rates hit a 20-year low, state-run banks are scrapping charges for not maintaining minimum balances to retain and attract depositors. Public sector banks like Canara Bank, PNB and Indian Bank have followed SBI’s lead in waiving the fee, once a ₹2,300-crore annual revenue stream. The move comes amid regulatory pressure and a struggle to compete with private banks, which are gaining deposit share.Can improved customer experience and digital push help PSBs win back savers in a low-interest, high-opportunity-cost world? Read more

India’s indie chocolates are here to stay 

Move over Switzerland, Belgiam and France, India wants to own its chocolate moment. At the heart of this transformation is Manam Chocolate, a homegrown brand that’s part of a fast-growing tribe of Indian craft chocolate makers reinventing the bean-to-bar journey with local cacao, global technique, and luxury retail flair. From the cocoa farms of Andhra Pradesh to sleek cafes and experiential stores in Delhi and Hyderabad, these brands are reshaping what premium chocolate looks and tastes like in India—bold, artisanal, and unapologetically local. Read this piece that takes a close look at the journey of Manam Chocolate, one of the many players in India’s fast-growing local chocolate landscape.

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₹748 crore

The net profit reported by HDFC Asset Management Co. for the June 2025 quarter, a 24% increase from the previous year.

$9 billion

The amount of foreign aid and public broadcasting funding eliminated by US Senate-approved spending cuts proposed by President Donald Trump.

2

The number of units sold out of 683 total units at W Residences Marina View condominium in Singapore during its opening weekend, highlighting the challenges in the luxury property market.

4.3%

The unemployment rate in Australia for June, up from 4.1% the previous month, breaking from the 3.9-4.2% range since late 2023.

60,942

The number of vehicles GM brought in from China to Mexico in H1 2025, representing 65% of GM's total sales there, according to the country's national statistics bureau.

₹603 crore

The revenue from operations reported by Waaree Renewable Technologies for the June quarter, up 155% from ₹236.35 crore in the same period last year.

26,367

The number of public EV charging stations in India by early FY25, representing a five-fold increase from FY22, according to CareEdge Ratings.

howindialives.com

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