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Monday, 21 April 2025

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As India and the US work to seal their long-awaited bilateral trade agreement by fall 2025, one issue is shaping up to be the ultimate challenge: dairy. While both sides have made headway in terms of reference and are deep into virtual and in-person rounds of talks, India is standing firm on a culturally loaded point—no US dairy imports unless the feed is strictly vegetarian. Indian negotiators have told their US counterparts that unless American dairy cattle are raised on a plant-based diet, in line with India’s “green dot” certification standards, products like cheese and butter won’t find a place on Indian shelves. The concern goes beyond economics. In India, cows are sacred, and the idea of them being fed animal-derived proteins—common in US dairy practices—touches a deep nerve. At the same time, India is showing flexibility elsewhere, offering tariff concessions on items not grown domestically, such as nuts and fruits, to help move negotiations forward. Read the full report by Dhirendra Kumar.

Mint Primer | SPF wars: Honasa vs HUL heats up

What happens when sunscreen turns savage? Honasa Consumer, the maker of The Derma Co., has dragged FMCG giant HUL to the Delhi High Court over ads for Lakmé’s sunscreen. Honasa claims Lakmé’s new ‘SPF Lie Detector Test’ campaign targets its own bestseller, implying it lies about offering SPF 50. HUL hit back, saying in vivo tests showed Derma Co’s sunscreen offers only SPF 20. The court has now ordered HUL to tone down its ads and remove any references to The Derma Co. Read more.

Margin squeeze incoming? Banks brace for rate-cut aftershocks

As the RBI’s twin rate cuts begin to ripple through the system, India’s top private banks—HDFC Bank, ICICI Bank, and Yes Bank—are signalling short-term pressure on their margins. Why? Because loan rates reprice fast, while deposits take time to adjust. Translation: lower income, for now. Although Q4 margins held steady, thanks to stable yields and easing deposit rates, the road ahead looks foggy. From retail loan competition to repricing lags, CFOs are cautious. Read more.

Cognizant flags GCC threat!

For the first time, an IT bigwig—Cognizant—has openly admitted what many in the industry have tiptoed around: Global capability centres (GCCs) run by clients are emerging as a serious threat. In its latest annual report, Cognizant cited in-house client tech hubs as potential risks to its business model, triggering the question—will others follow suit? With 1,700+ GCCs in India, global giants from Microsoft to JP Morgan are building innovation powerhouses here. Read more.

Summer heatwaves, staffing woes: Can India Inc keep cool?

Summer’s soaring temps are heating up more than just streets—they’re singeing staffing firms, too. Demand for sales and gig workers is up 20% across consumer, banking, and logistics sectors, but relocating talent to cities is tougher and costlier than ever. Attrition is sky-high, accommodation demands are rising, and hiring local isn’t cheap either. With air conditioner sales booming and quick commerce expanding into smaller towns, companies are scrambling to find (and retain) the right people. Read more.

Auto ancillaries’ EV gamble: Bet big, bleed bigger?

When engine-maker Greaves Cotton, Murugappa’s Tube Investments, and Pinnacle Industries dove headfirst into EV manufacturing, it seemed like a smart hedge against an ICE-dominated future. After all, EVs promised fewer parts, simpler assembly, and a booming market. But fast forward to 2024, and all three are deep in the red—with combined losses nearing ₹1,600 crore. What went wrong? Fierce competition, underwhelming demand, and legacy automakers finally showing up to the EV party. Can these component veterans survive in a game now ruled by big names like Tata, Bajaj, and Hero? Find out Read more.

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3,624

The number of pilgrims from Jammu and Kashmir who are expected to perform Hajj 2025, down from 7,008 last year, due to higher travel costs, among other reasons.

₹63,000 Cr

The size of a deal India is set to sign this month with France to buy 26 Rafale-Marine combat aircraft, the largest ever in the Indian defence sector.

₹27,350 Cr

The revenue reported by Bharat Heavy Electricals for FY 2024-25, up 19% from the previous year, as power sector demand pushed its order book to a record high.

53%

The share of drive transmission systems, engine components, and electrical & electronics components in the total auto ancillary exports from India at present, according to a NITI Aayog report.

₹88 Cr

The global box office collection of Sunny Deol's movie Jaat in 10 days since its release, including ₹77.4 crore in India.

₹112 Cr

The total amount spent on Project Cheetah, an initiative launched in 2022 to reintroduce cheetahs in the country, with about 67% of the amount going to Madhya Pradesh.

₹289.2 cr

The revenue reported by local search engine Just Dial in the fourth quarter of FY25, up 7% from the same period last year, driven by merchant acquisition initiatives.

howindialives.com

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