Noel Tata pushes shorter term for Tata Sons chief

Noel Tata is pushing for a shorter, two-year extension for Natarajan Chandrasekaran as chairman of Tata Sons, instead of the usual five-year term, as the group weighs a broader leadership overhaul.

Trustees are expected to discuss a new structure that separates the roles of chairman, CEO and managing director, along with a possible deputy CEO. The idea is to use a truncated extension to firm up succession plans before Chandrasekaran’s current term ends in February 2027.

The move follows concerns from Noel Tata over the performance and capital intensity of newer bets such as aviation, e-commerce and semiconductors, which have together drawn over $11 billion in investments.

However, not all trustees agree. Leaders like Venu Srinivasan and Vijay Singh have backed a full third term, citing the need for continuity amid a challenging business environment.

The final call will test the balance of power between the Tata Trusts, which own a majority stake, and the Tata Sons board as it navigates leadership transition at India’s largest conglomerate.

THE MAIN STUFF

Instagram rollback revives encryption debate

Meta will discontinue end-to-end encrypted messages on Instagram from May 2026, reigniting a global debate over privacy versus safety. The company cites low usage and is nudging users toward WhatsApp for secure chats, even as governments increase scrutiny of encrypted platforms. End-to-end encryption prevents platforms from accessing messages, making it harder to detect fraud, abuse or child exploitation. Privacy advocates, however, warn that weakening encryption could expose users to surveillance and cyber risks. India, with over 500 million WhatsApp users, remains a key battleground in this ongoing policy tug-of-war. Read more.

Sensex logs one of its worst starts amid oil shock

Indian equities have had one of their weakest starts in decades, with the BSE Sensex down 11.4% between January and mid-March 2026, as rising crude prices linked to West Asia tensions weigh on sentiment. Nomura warns markets could end the year in the red if oil stays above $100 per barrel, with every $10 rise widening India’s deficit and potentially dragging down earnings. The Nifty 50 could see a 10-15% cut in FY27 earnings estimates if prices remain elevated. While such sharp early declines are rare, history shows markets often recover unless shocks turn systemic. Read more.

India adopts a calibrated global playbook on FDI

India is reshaping its foreign investment strategy with a calibrated easing of Press Note 3, signalling a more pragmatic, globally aligned approach to capital flows. By allowing low-risk Chinese-linked investments under the automatic route and fast-tracking approvals in key sectors, New Delhi is balancing economic needs with strategic caution. The shift mirrors evolving global practices, where countries welcome foreign capital but impose guardrails in sensitive sectors. For India, the move addresses falling inflows, supply chain gaps and import dependence on China. Read more.

India’s farms turn into carbon removal engines

India’s farmlands are emerging as unlikely hubs for global carbon removal, as startups like Alt Carbon, Varaha and Mitti Labs turn soil, crop residue and irrigation practices into tradeable carbon credits. These credits, bought by global firms such as Google and Microsoft, channel climate capital into the Global South while funding new farm practices that can boost yields and incomes. India’s scale, low costs and favourable conditions make it a strong contender in this emerging market. But challenges remain, especially around verifying carbon removal and ensuring long-term credibility, which will determine whether this nascent ecosystem can scale into a reliable global climate solution. Read more.

NCLT clears Adani plan for Jaypee Associates, but legal risks linger

The National Company Law Tribunal has approved Adani Enterprises’ ₹15,000-crore resolution plan for Jaiprakash Associates Ltd, handing it control of the bankrupt firm and advancing one of India’s largest insolvency cases towards closure. The plan, backed by 93% of creditors led by National Asset Reconstruction Co. Ltd, offers a modest 2.8% recovery. Rival bidder Vedanta Ltd can still appeal, though courts rarely overturn creditor decisions. The acquisition strengthens Adani’s cement ambitions while unlocking valuable land and infrastructure assets, even as the case underscores the limits of India’s insolvency recoveries. Read more.

AROUND THE WORLD

The Fed keeps getting hit with new shocks in its yearslong inflation fight

The Iran war is roiling commodities far beyond oil

In Donald Trump’s world, the strong take what they can

The blowup that exposed how America’s banks are entangled in private credit

OpenAI to cut back on side projects in push to ‘nail’ core business

NEWS IN NUMBERS

₹144.5 crore
The amount SpiceJet was directed to deposit in its arbitration dispute with Kalanithi Maran, which it says it cannot pay amid a severe liquidity crunch worsened by Gulf flight cancellations.

₹709.56 crore
The value of a contract that Power Mech Projects won from Adani Infrastructure Management Services for operations and maintenance of a 5×660 MW thermal power plant in Maharashtra.

₹560 crore
The amount The Leela Palaces, Hotels and Resorts will pay to acquire an ultra‑luxury Coorg resort from Pai Vista Hotels, expanding its wellness portfolio.

440 kg
The amount of enriched uranium Iran was reportedly willing to hand over in negotiations with the US shortly before the US‑Israel military strikes began.

₹15,000 crore
The size of Adani Enterprises’ approved resolution plan for bankrupt Jaiprakash Associates, clearing the way for takeover and creditor payments after NCLT Allahabad’s order.

4
The number of days Sri Lanka's state institutions, schools, and universities will operate each week, after the government declared Wednesdays a holiday to conserve fuel amid the Middle East war.

100%
The rebate on ground rent and dwell time charges offered by JNPA to containers bound for West Asia, as India eases port costs for stranded vessels amid the Strait of Hormuz closure.

CHART OF THE DAY

LOUNGE RECOMMENDS

High cortisol is the new normal. Here’s how to calm your body down

More and more people are living in a state of constant activation: poor sleep, nonstop stimulation, emotional overload, late meals, too much caffeine, and almost no real decompression. Reason why high cortisol is becoming the new normal. A 2024 report from Harvard Health Publishing notes that chronic stress keeps cortisol elevated and can interfere with sleep, digestion, reproduction, and growth-related processes. Read more.

WHAT THE FACT

Naming (and taming) an Impala

Though often thought of as a band, Tame Impala is actually the psychedelic music project of Kevin Parker. Its name comes from the impala, an African antelope, and reflects Parker’s idea of music that feels both wild and controlled, raw and polished. “Tame” suggests domestication, while “Impala” evokes something instinctive and untamed. Parker has also said the name was inspired by the strange, wordless feeling of sharing a brief moment of connection with a wild animal, making it a perfect metaphor for his sound.

Written by Siddharth Sharma. Edited by Alokesh Bhattacharyya.