ePaper | THE ECONOMIC TIMES

  • The Economic Times
  • The Times of India
  • Mirror
  • Maharashtra Times
Front PagePure PoliticsBrands & CompaniesThe Edit PageCompanies: Pursuit of ProfitEconomy: Macro, Micro & MoreAround the World
More
Smart InvestingDisruption: Startups & TechET PanacheSports World Play
Smart InvestingDisruption: Startups & TechET PanacheSports World Play

1Front Page

From Denmark and Romania to Taiwan and Israel, Indian consumers will soon have a global selection of whiskies in their glasses. Nearly a dozen whisky brands – including Denmark's Stauning, Israel’s Milk & Honey, Romanian malt Carpathian and Taiwan’s Kavalan – have either recently entered or are seeking distribution tie-ups in the world’s largest whisky-consuming country, industry insiders said.

Tata group is set to embark on a billion-dollar capital raise for two of its prime digital assets, BigBasket and 1mg, as it gears up to capitalise on these businesses and catch up with the competition, said multiple people involved.

By kicking off the tariff war, the US has inadvertently ceded half of its dairy export market to India, according to Jayen Mehta, managing director of Gujarat Co-operative Milk Marketing Federation (GCMMF), owner of leading dairy brand Amul.
Apple’s vendors nearly doubled exports of iPhones from India in March–a majority to the US–to ₹20,000 crore, from ₹11,000 crore a year ago, likely pointing to the smartphone major’s efforts to build stocks ahead of the tariffs announced by the Donald Trump administration from April 2.
Economists are unanimous that the Reserve Bank of India will deliver a quarter percentage-point cut in policy interest rate this week on easing domestic inflation, but are divided on a shift in its monetary stance amid the tariff war that is causing unprecedented uncertainty in global trade and financial markets.
While India’s Unified Payments Interface (UPI) continues to break monthly transaction records, the earlier breakneck pace of growth is slowing as its user base has widened, according to data analysed by ET.
Should investors worldwide brace for another ‘Black Monday’ — a reference to October 19, 1987, when stock markets around the world crashed simultaneously?

2Pure Politics

It is heartening that the Ministry of Defence (MoD) has resumed the process of procuring a new fleet of multi-role fighter aircraft after an inexplicably long lull. The process, originally initiated in 2018 for procurement of 114 aircraft in the ‘Make In India’ format through the strategic partnership model, got stalled after the preliminary shortlisting of a few models.

The environment ministry’s apex regulatory panel on Genetically Modified crops cleared the way for the import of Alfalfa hay, used in animal feed, from the US back in July 2024 but it is still awaiting a final nod from the agriculture ministry — an issue raised in the on going Indo-US trade talks.

In ethnic violence-hit Manipur, almost all political parties have set aside their differences to band together against a Supreme Court directive that the delimitation exercise in the state must be completed within the next three months.
Senior leader MA Baby was on Sunday elected as the new general secretary of CPI(M). This was announced at the 24th party congress in Madurai.
Peaceful Ram Navami celebrations were held in West Bengal on Sunday, with several processions organised across the state, amid tight security. Ram Navami has become a focal point of a political war between BJP and Trinamool, ahead of 2026 assembly polls.
India is studying reports of a Chinese plan to build an airfield in Bangladesh’s Lalmonirhat district which will emerge as a challenge for New Delhi’s security interests along the eastern border, including the Chicken’s Neck area.
The sudden change of BJD's stand of opposing the waqf bill to allowing the MPs in Rajya Sabha to vote on their conscience has now become a bone of contention among the party leaders.
There are problems in INDIA bloc, CPI(M) general secretary MA Baby admitted on Sunday but also expressed hope that the grouping would be able to overcome those differences.
Prime Minister Narendra Modi and Sri Lanka President Anura Kumara Dissanayake on Sunday jointly inaugurated a railway line and flagged off construction of an advanced railway signalling system in Anuradhapura in central Sri Lanka.
The AICC session in Ahmedabad on Wednesday will be more of an exercise by the party leadership to project yet another resolve to check the party’s drift and lift the gloom after the respite of a partial recovery in 2024 Lok Sabha polls was hit by serial setbacks, said some party leaders.
Union home minister Amit Shah on Sunday said the coverage area of the ‘Niyad Nellanar’ (our clean village) scheme should be expanded from a 5 km to 10 km radius around the Forward Operating Base (FOB) being set up by the central security forces led by the CRPF.
A soldier allegedly committed suicide by shooting himself with his service rifle at an Army camp in Ramban district of J&K in the early hours of Sunday, officials said.
An Indian Navy warship operating in the Arabian Sea provided critical medical assistance to a Pakistani crew member on a fishing vessel off the Oman coast, the Navy said on Sunday.
Jammu and Kashmir Police has identified 7,200 mule accounts, which remain active for a few days and crores of rupees are funnelled through these channels.
Union home minister Amit Shah arrived in Jammu and Kashmir on Sunday evening for a 3-day visit during which he will chair security and development review meetings and travel to border areas of Jammu to assess the ground situation.
Tension broke out between two tribal communities in Manipur’s Kangpokpi district on Saturday after at least 10 people, including two village leaders, were allegedly assaulted by militants over a land dispute.

3Brands & Companies

Naveen Jindal-owned Jindal Power is competing with Sev.en Global Investments of the Czech Republic to acquire the 1,320-MW Jhajjar thermal power project in Haryana from Apraava Energy (formerly CLP India) as demand for coal-fired power rises, multiple people aware of the development said.

Leading QSR chain operator Jubilant Foods Ltd (JFL) consolidated revenue from operations increased 34 per cent to Rs 2,107 crore in the March 2025 quarter. For the fiscal 2025, its consolidated revenue from operations rose 44 per cent to Rs 8,145.5 crore, as per a quarterly update filed by the company.

All-expenses-paid luxury cruises, tickets to live programmes of celebrity artists and upgrades to business class — travel-related incentives are getting bigger and better this appraisal season as employers look for ways to pamper and retain their top performers.
Integrated fund and development management platform Welspun One Logistics Parks has secured funds worth ₹2,300 crore from National Bank for Financing Infrastructure and Development (NaBFID) for its logistics park project at Jawaharlal Nehru Port Authority (JNPA) in Navi Mumbai.
Toyota Kirloskar Motor aims to maintain sales volume growth in the current fiscal with plans to expand the sales network and introduce new models, according to a senior company executive.
Dr Reddy’s Laboratories Limited has received a showcause notice from the Income Tax Department, proposing a demand of over Rs 2,395 crore.
The government may soon introduce stringent quality norms for a host of beauty products to rein in imports of cheap, substandard cosmetics, officials directly involved with the development said.
Danish pharma giant Novo Nordisk is preparing to launch blockbuster anti-diabetes and weight-loss drug Wegovy (semaglutide) in India. To get an edge over Eli Lilly’s brand Mounjaro (tirzepatide), which was recently introduced, Novo Nordisk has demonstrated the cardiovascular benefits of Wegovy in Indian patients, according to regulatory filings seen by ET.
Unburdened by responsibilities and bolstered by retirement benefits or long-standing savings, a growing tribe of affluent Indians aged 50 and above is swapping armchairs for adrenaline.
Jaguar Land Rover, the British luxury automaker, said Saturday that it was pausing shipments to the United States in April, days after President Donald Trump’s auto tariffs went into effect.

4The Edit Page

Tailoring healthcare to an individual’s unique biological makeup, lifestyle and environment is emerging as a transformative force. While genetic testing plays a role, the future lies in integrating health records, diagnostics and clinical insights to offer more precise and proactive interventions.

In Mahabharata, Dhritrashtra’s charioteer Sanjaya was granted ‘divya drishti’ (divine sight), the ability to see what was happening on the Kurukshetra battlefield far away.

Apple may have beaten Trump-tariffs for a few months by cranking up production in Asia. It reportedly shipped five planeloads of iPhones and other products from India to the US late last March to avoid new tariffs.
In the cacophony of modern life, where moral compasses often waver, Ramnavmi illuminates the path of dharm, the cosmic order that sustains the universe.
India has stepped up. The Bangkok Bimstec summit last week signalled the beginning of a new relationship for Bay of Bengal countries. As the region’s largest economy, India has an important role to make Bimstec work.
One great thing about 2047 is that it’s 22 years away. While we can be intutionally sure that, in that period, Bharat will be so viksit that jaws slack now will drop in awe of the transformation, we are still quarelling over something as futuristic as streamlining management and governance of religious properties.
Greek composer Vangelis’ music has been described as ethereal. His finest works are, indeed, goosebumps-inducing. And the finest example of his ‘electronica classical’ has to be his title track for the 1981 Hugh Hudson film, ‘Chariots of Fire’.

5Companies: Pursuit of Profit

Apple, through its iPhones and other products, could face around $39.5 billion in tariff costs after Donald Trump’s sweeping reciprocal tariffs as the Cupertino-based company’s global supply chain relies heavily on China, Vietnam, India, and other Asian countries, said a Rosenblatt Securities report.

This top-tier private sector bank — once compared with Wall Street titans — is staring at turbulence over succession yet again, but this time the challenge is far bigger we hear.

Union Minister G Kishan Reddy has written to Telangana chief minister Revanth Reddy flagging land acquisition for over ₹12,500 crore worth infrastructure projects remaining stuck in the state, delaying their execution.
A joint venture between a Reliance Industries (RIL) unit and European esports company BLAST is expected to stir up and intensify competition in the fast growing esports space, currently dominated by the likes of KRAFTON, Nazara-owned Nodwin Gaming and Jetsynthesys' Skyesports, experts said.
For Indian filmmakers, social media is the new box office battleground, consuming 50-70% of film marketing budgets, up from just 10-20% before the Covid-19 pandemic, according to industry analysts.
Tata Electronics has emerged as one of the top ten businesses within the group in terms of revenue, while most of the newer ventures are also showing strong momentum in both growth and profitability, Tata Sons chairman N Chandrasekaran said.
Oil prices have a “very low” probability of falling below $60 per barrel and Oil and Natural Gas Corp (ONGC) “should not face any economic difficulties” as long as prices stay above that level, its finance chief has said.
The IndusInd Bank forex derivatives portfolio crisis has put the spotlight on audit policies on regulated entities such as commercial banks, non-banking finance companies and small finance banks, experts said.
Trump’s tariff shocks have dashed any hopes of a quick stock market rebound even as gold’s safe haven appeal has intensified, while bonds look ripe for further gains.

6Economy: Macro, Micro & More

In a move to combat financial fraud, banks are looking to verify and restrict accounts most vulnerable to misuse as ‘mule’ accounts for channelling illicit money, multiple people aware of the development said.

Indian customs authorities are fast-tracking shipments headed to the US ahead of the Trump administration’s April 9 deadline for 26% reciprocal tariff on New Delhi.

Developed countries are softening their stance on pushing non-trade issues such as sustainability and environment in their free trade agreement (FTA) negotiations with India, officials said—a shift that could smoothen ongoing trade talks with partners like the EU and the UK.
Commerce and industry minister Piyush Goyal is likely to meet exporters and industry on Wednesday, the day the 26% reciprocal tariffs by the US come into effect, people familiar with the development said.
More women are occupying senior positions in India than before, according to a government report released on Sunday. Women held 28.7% share in board of directors in FY25, up from 26.7% in FY20. During the same period, men’s share declined to 71.3% from 73.3%.
The finance ministry is studying global pension fund management practices and India’s experience of running the Employees' Provident Fund Organisation (EPFO) to soon firm up rules on investing the corpus made up of additional government contributions under the recently-announced Unified Pension Scheme (UPS), senior officials said.
ACME Group is targeting ₹10,000 crore revenue by 2030 from its solar module and cell equipment manufacturing business, the company said on Sunday. While it recently commissioned a 1.2 GW solar module manufacturing unit in Rajasthan, the company is looking to expand it in the coming years.

7Around the World

A powerful legal group backed by conservative funding sued President Donald Trump, setting up an early legal clash over the significant US tariffs his administration announced this week.

More than 17 million people have been affected in Myanmar by a devastating earthquake that killed over 3,300 people in the country about a week ago, according to the United Nations and the ruling State Administration Council.

More than 50 nations have reached out to the White House to begin trade talks since US President Donald Trump rolled out sweeping new tariffs, top officials said on Sunday as they defended levies that wiped out nearly $6 trillion in value from US stocks last week and downplayed economic fallout.
China says that its export controls on rare earths will not affect the stability of the international supply chain, according to a statement from the China Nonferrous Metals Industry Association on Sunday.
The outlook for Prosecco, Brunello di Montalcino and other Italian wines in the United States is increasingly gloomy, producers and importers said, following President Donald Trump's imposition of a 20% tariff on European imports.
Iran’s top diplomat has dismissed direct negotiations with the United States as pointless, his office said Sunday, after US President Donald Trump said he preferred face-to-face talks over its nuclear programme.
Vietnam has offered to remove all tariffs on US imports after Donald Trump announced a 46% levy on the southeast Asian nation, according to an April 5 letter from Vietnam’s communist party.

8ET Markets

All key technical indicators have turned bearish, signalling sustained selling pressure at higher levels. As long as Nifty stays below 23,000 mark, weakness could extend towards 22,700–22,500 zone, say technical analysts.

India’s equity markets are in for a rollercoaster ride over the next few weeks as US President Donald Trump’s tariff impositions have rattled the stock markets from East to West.

Equity forecasters currently face the unenviable task of foretelling what is in store for investors. Investment models — and even crystal balls — seem ill-equipped to offer definitive answers to Donald Trump’s unsettling experiment to reposition the US as a manufacturing giant.
Indian companies are witnessing sharpest wave of earnings downgrades by analysts in nearly 20 quarters. According to an ET analysis of LSEG data, earnings estimates have been slashed for 480 of the 610 tracked companies over the past three months, underscoring the growing stress on profitability.
Saudi Arabia slashed its flagship oil price by the most in more than two years, just days after the OPEC+ alliance announced an unexpectedly large output hike.

9Smart Investing

With cars and transport vehicles becoming more connected and software-driven, automotive cybersecurity is likely to become a standard feature much like airbags or traction control, according to industry experts.

The Indian toy industry is ready to take advantage of the high tariffs imposed by the US on competitors such as China and Vietnam, and the domestic players have already begun work on expanding capacity and forming joint ventures with global firms, exporters said on Sunday.

As banks become cautious with unsecured lending, borrowers have started shifting towards loans against fixed deposits (FDs), shares and jewellery—all of which are backed by a strong collateral.
Credit Saison India (CS India), a non-bank lender which is backed by some of Japan's largest institutional investors, has raised $300 million (₹2,600 crore) via its maiden dollar loan in India as it seeks to diversify funding like its peers in the local market.
Foreign investors who had struck deals abroad with other offshore investors to buy into Indian companies have caught the attention of the income tax (I-T) department.
Two days after Donald Trump erected lofty tariff towers, the Indian rupee hurdled the 85/$ barrier for the first time in 2025. But its gains may well be short-lived, as both the Dollar Index and US sovereign bond yields begin to reflect the altered pricing reality for the tariff-laden American shopper.
China investors are bracing for a grim Monday as the nation’s markets return from an extended weekend and factor in its retaliation to US tariffs.

10Disruption: Startups & Tech

​ In 10 years, electronics production jumped five times to Rs 9.5 lakh crore, adding 25 lakh jobs

Microsoft, determined to hold its ground in AI, will soon let consumers tailor the Copilot digital assistant to their own needs. The chatbot will be able to record user preferences — such as favourite foods or movies or past vacations — and carry that knowledge into future conversations.

As the AI turf war escalates, Elon Musk owned Grok and Chinese DeepSeek models now stand at the forefront of AI capability — one optimised for accessibility and efficiency and the other for brute-force scale — despite the vast disparity in training resources, a report said.
Mumbai-based impact investor Asha Ventures has raised $10 million from the UK government-backed British International Investment (BII) for its fund I, as it moves closer to hitting its target corpus of $91 million.
The Indian fabless semiconductor ecosystem is stuck in a classic chicken and egg problem. Startups need working silicon, a proof-of-concept chip to attract serious investor interest.
Japan is investing aggressively in India’s semiconductor ambitions, while countries like South Korea and Taiwan race to catch up, as India builds its chip manufacturing ecosystem from the ground up, multiple industry sources said.
On a recent morning, I knocked on the front door of a handsome two-story home in Redwood City, California. Within seconds, the door was opened by a faceless robot dressed in a beige bodysuit that clung tight to its trim waist and long legs.
Food and grocery delivery firm Swiggy has received a fresh notice from the Pune profession tax department for ₹7.6 crore in unpaid tax, it said in a filing with stock exchanges.
Pune-based digital payments player Easebuzz has raised ₹240 crore ($30 million) in a funding round led by Bessemer Venture Partners. The round saw the infusion of ₹200 crore in primary capital and ₹40 crore in secondary capital.
Margins for Indian IT companies in the new fiscal year are likely to come under pressure due to wage hikes, investment costs and heightened uncertainties about the demand environment amid the tariff war, according to analysts.
FSN E-Commerce, the parent company of fashion and beauty retailer Nykaa, expects to report consolidated net revenue growth in the low to mid-20% range year-on-year for the March quarter (Q4 FY25), maintaining the momentum seen throughout the year.
British fintech major Revolut has received the final authorisation from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPIs), including prepaid cards and digital wallets with Unified Payments Interface (UPI) integration.

11ET Panache

Elon Musk’s influence is vast in Texas, the US state that both he and his companies call home. He’s funding schools, wading into politics and even trying to incorporate a city.

Neha Dhupia, Angad Bedi and their children jetted off to Hong Kong, turning the quick, visa-free weekend getaway into an adventure

During a recent podcast, US track coach Stuart McMillan touted skipping as an overlooked form of exercise for athletes of all levels. Why is skipping so powerful? The movement can help build power, agility and speed, and improve coordination, balance and mobility.
The approximate age of a mass grave recently uncovered under a soccer field along the Danube River in Vienna. The grave is said to date back to AD 80 to 234 when the Roman Empire was battling Germanic tribes in the region.
With their quirky shapes, lavish appointments and alluring settings, a new generation of timeshares in Japan is attracting remote workers, co-owners and investors ranging from middle-class families to global celebrities.

12Sports World Play

Max Verstappen won his first F1 race of the season after again tussling with Lando Norris at the Japanese Grand Prix.

Skipper Shubman Gill led by example with a classy half-century after Mohammed Siraj bowled with fire in his belly to return excellent figures of 4/17 as Gujarat Titans crushed Sunrisers Hyderabad by seven wickets in Hyderabad on Sunday.

Ace Indian pacer Jasprit Bumrah is set for a comeback after he joined Mumbai Indians (MI) squad ahead of match against Royal Challengers Bengaluru (RCB) on Monday, confirmed the team's head coach Mahela Jayawardene in Mumbai on Sunday.
Fulham put Liverpool’s procession towards the Premier League title on pause with a 3-2 win on Sunday. Alexis Mac Allister gave Liverpopol an early lead but that was as good as it got for the Reds who then shipped three poor goals in 14 minutes.
The Indian boxing contingent ended their campaign at the World Boxing Cup with an impressive haul of six medals (10-member contingent), including a gold won by Hitesh, at Foz Do Iguacu in Brazil.
ET Print Edition: All you need to know
In today’s fast-paced world, reading a newspaper while having a cup of tea is a distant dream. Realising the hardship faced by newspaper lovers nowadays, Economic Times has come up with a unique initiative called ET Print Edition.

The ET Print Edition is a digital experience of the Economic Times newspaper, which is published daily. It helps you get the enormous amount of valuable information published in the newspaper daily in the digital form.

So, you get acquainted with all national and international affairs of the world while you are on the go. The best part is you can access the digital copies of our daily published stories in the print, anytime, anywhere.

What is ET Print Edition?

  • ET Print Edition is a replica of the Economic Times newspaper in the digital form. All the ET newspaper stories are presented in a format that is easy to read. The vital news from India and around the world is just a click away.
  • It has a toolbar that helps you jump from one page to the other without scrolling. The site opens up with a 'Front Page' followed by 'Pure Politics', and so on. It gives you all the important news of the day.

How can you access ET Print Edition?

  • All the Economic Times Prime members can access the ET Print Edition for free and enjoy its benefits
  • Free users on the Economic Times website can access limited content of the ET Print Edition. To get complete access to ET Print Edition, the users need to become a ET Prime Member.

What are the most significant features of ET Print Edition?

ET Print Edition is a digital avatar of the Economic Times newspaper. It has gained immense popularity amongst avid readers in no time. Here’s why it’s being loved by several readers.

  • Delivered to Your Email Inbox Every Morning: The Print Edition in digital form is sent to your email inbox at around 7 am in the morning when the subscribers of the print copy of the newspaper receive it. You can go through the daily news while having breakfast!
  • Accessible on Different Devices: No matter what gadget you are more comfortable with, ET Print Edition will be available on it. Whether it is a laptop or your smartphone, you can access the ET Print Edition with ease.
  • Archive Option Available: There is a specific feature, which can help you read the stories published in the past weeks. The 'Archive' option lets you read all the news published after April 25, 2022.
  • Sharp, Interactive Design For Better User Experience: The news stories come in a properly formatted design, which is not only easy to browse but convenient to read on all devices.

The Economic Times