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As the U.S. and China move from a battle over economic principles to managing the status quo, who is winning? Write to me at [email protected].

₹20,020 crore.In fact, Q3FY26 revenue growth was as high as 46%, led by a 54% jump in its mainstay wires and cables business that contributes 88% of the gross segment revenues.Like peers, supply chain uncertainties and demand disruptions following the Middle East conflict are expected to hurt Polycab too. “March so far has been weaker versus initial expectations, thereby impacting Q4 estimates, emanating from uncertainty from the ongoing Middle East conflict, and a high base,” wrote JM Financial Institutional Securities’ analysts after interacting with Polycab’s executives in a report on 15 March.Should the ongoing uncertainty persist, Q4 volumes could remain flat year-on-year, revenue growth relying on input cost appreciation (18-20%), it added.March usually accounts for 45-50% of Polycab’s fourth-quarter revenue, but demand has been slower this time owing to uncertainty around commodity prices and project visibility.

NEW DELHI: The civil aviation ministry proposes to offer as much as ₹1,800 crore as incentives to manufacture drones in India, increase adoption across defence and civilian sectors and reduce reliance on component imports from China.The tentatively titled Mission Drone Shakti is expected to set aside ₹1,600 crore-1,800 crore over five years to fund and support research and development and local manufacturing of components including critical parts and incentivize drone sales and adoption, an official aware of the discussions said.The plan is to introduce the scheme in FY27, targeting private Indian companies. The details are being finalized and after the finance ministry’s approval, it will be presented for the consideration of the Cabinet.The proposed Mission Drone Shakti mirrors India’s production-linked incentive schemes across 14 sectors such as electronics, textiles, pharmaceuticals and automobiles, which had a cumulative outlay of ₹1.97 trillion.

₹1,200 crore, with Stovekraft and TTK Prestige together accounting for about 36% as of FY25, according to Fadia.“Whatever channel inventory was already available has largely been sold out, and companies would not be in a position to quickly refill the channel as they would not have planned for such a sudden surge in demand,” said Fadia. “They will need time to order components and align the supply chain, which could take at least 20–30 days."Most consumer appliance companies source components from China and assemble them locally, while some traders and distributors directly import finished goods from China and Vietnam, limiting the benefit for domestic manufacturers, said Fadia.A major share of induction stoves sold in India are sourced from China, with companies procuring components or finished units and assembling them domestically before selling under local brands, said Trviesh D, chief operating officer at Tradejini, a stock broking company.And even if companies ramp up supply, the demand may fade once LPG availability improves.“While the disruption may lead some households to try induction cooking, we expect demand to normalize once LPG supply improves, limiting the likelihood of a sustained structural shift in the category,” said Manish Valecha, research analyst, Anand Rathi Institutional Equities.Investor enthusiasm has already cooled.

trade deficit of nearly $100 billion with China. Local production funded by FDI could substitute a part of these imports.Second, net FDI inflows have fallen significantly in recent years, making new sources of capital increasingly valuable.Third, the Israel–Iran war has once again exposed India’s energy vulnerabilities.

Mint. “That creates an alternative to the China supply chain."For a company best known for consumer products, the shift marks a strategic expansion into the enterprise segment and reflects a broader shift in India’s manufacturing landscape.Many core components used in appliances, particularly motors, compressors and electronic controllers, have historically been imported largely from China.

China’s move against OpenClaw came before the rest of the world had even settled on a vocabulary for what worried it. This early restriction matters because it frames the issue correctly.OpenClaw is not merely another chatbot. It is an open-source agent framework designed to connect language models to real tools such as messaging apps, email, calendars, browsers and local files, so that the system can act with limited human supervision.Chinese authorities did not impose a blanket prohibition on all use, but reports indicate that state-linked institutions have been told not to install it on work devices and personal gizmos (in some cases) because of security concerns.

ChrysCapital’s $700-million continuation fund alongside HarbourVest and LGT Capital Partners in 2024.Broadly, India has emerged as an increasingly attractive destination for LPs and its regional weight has increased amid China’s slowdown, according to a report by McKinsey that was released earlier this month.The report added that India accounts for more than a third of all Asia–Pacific investment exposure among surveyed LPs. Data notes that private equity and venture capital deals expanded 1.6-fold to $207 billion between 2016-20 and 2021-25 while exits for the same period more than doubled to around $120 billion, the consultancy firm said.Pantheon has also benefited from improving liquidity through India’s public markets.“Over the last year, we certainly got some liquidity from the IPO markets, and this has been very encouraging for us as global investors to be able to continue deploying capital,” Sood said.However, he struck a cautious note as geopolitical tensions and macroeconomic uncertainties continue to pose risks to deal activity across both public and private markets.“While we have a significant presence in Asia-Pacific, the risks are elevated in the short-term due to a confluence of factors.

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was killed along with his 44 top leaders. The US and Israel thought that like in Iraq, people would revolt in Iran. But the reverse happened.People took to the streets to mourn Khamenei’s death.

fertilizer industry is coordinating with the Centre and states on increasing supply from more countries, the Fertiliser Association of India (FAI) said. “Production planning, imports and logistics are being actively coordinated to maintain adequate availability during the upcoming cropping season.

India’s recalibration of its approach to Chinese investments marks an important moment in the evolution of India-China economic ties. The revised framework under Press Note 3 (PN3) signals a pragmatic attempt to balance India’s strategic and security considerations with the economic opportunities that carefully structured investment from China could bring.

the Netherlands has produced—under judicial compulsion and apparently with a straight face—is a mechanism that may force investors to sell assets simply to fund tax bills on gains that have not actually been realized.The broader concern is not the Dutch policy alone, but the trend it represents.Spend time in any corner of social media where economics is debated and you will encounter a growing community of neo-socialists who have arrived at a remarkable conclusion: socialism did not fail—it was simply never implemented properly.In this narrative, the Soviet Union, Maoist China and Cuba were merely flawed attempts at what is fundamentally a sound idea.The right people, armed with modern technology and the right intentions, will supposedly get it right this time.Within this worldview, taxing paper gains is not seen as overreach but as an obvious act of justice. The rich are simply too rich; their wealth—even the theoretical kind—is viewed as an affront that the state should correct.The notion that market value represents real money that the government is entitled to immediately, rather than when an asset is sold, fits neatly into this framework.

NEW DELHI: India’s steadily rising mobile phone exports, which generated $11 billion in revenue in the first six months of the current fiscal, are expected to take a multi-billion-dollar hit as a result of a prolonged impact of the Iran war on consumption, imports and freight transit in the Gulf region.Executives, analysts and brokerage firms estimate a loss of $2 billion-3 billion on India’s electronics exports, largely because electronics manufacturing services (EMS) companies export a sizeable quantity of mobile phones to the Gulf area—a key trade and consumption hub.Mobile phones are among the top five most-impacted commodities as a result of the Gulf nations and the West Asia region being directly affected in Israel and the US’s war on Iran, analysts Suvodeep Rakshit and Swarupjit Palit at brokerage firm Kotak Institutional Equities wrote in a note to investors on 6 March.The analysts cited India’s commerce ministry data to say that mobile phone exports to the Gulf and West Asia rose to $3.1 billion in FY25, accounting for 12% of the country’s net electronics exports. This entire chunk may be affected and EMS companies that rely significantly on mobile phone manufacturing may be substantially hit, at least in the current quarter and next.If the conflict continues, the entire $3 billion in export value may be wiped off in the next fiscal year, the Kotak analysts said.

Mint.The company trimmed or sold stakes in Indian portfolio companies including PB Fintech and Dream11 in recent years, amid India’s stringent foreign direct investment (FDI) rules.The Union cabinet on Tuesday relaxed restrictions under the Press Note-3 (PN-3), which mandated pre-approval for investments from countries that share a land border with India. According to an official statement, such investments will now be allowed through the automatic route up to 10% in a local firm, on the condition that the foreign investor must not exercise management control or hold a board seat.

Digital commerce in India has become a theatre of quiet deception. Sellers cheat by design, and in the rush of a 10-minute grocery delivery, hundreds of millions of consumers rarely notice they are being fleeced.In 1919, John Maynard Keynes marvelled at the Londoner who could order by phone “various products of the whole earth” from his bed while sipping his morning tea. A century later, India has democratized this convenience through cheap smartphones and a national system of instant mobile payments, overtaking the US to emerge as the second-largest e-retail market after China by number of shoppers.Yet, this innovation is being hijacked by ‘dark patterns’—design elements that trick users into overpaying or paying for things they never wanted.

It is welcome that India is liberalizing inward investment from countries that share a land border with India. Investments up to 10% of a company’s paid-up capital that involve no board-seat control will be allowed under the automatic route. Investment proposals that need government approval would also be fast-tracked for nods within 60 days in specified sectors, including the manufacture of capital goods, capital goods for electronics, electronic components, polysilicon and the conversion of polysilicon into ingots and their slicing into wafers.

New Delhi: India’s automakers could be heading toward another semiconductor supply squeeze—this time triggered by the artificial intelligence (AI) boom. As chipmakers shift manufacturing capacity toward high-bandwidth memory (HBM) for AI data centres, supplies of conventional memory chips used in vehicles are tightening, driving up prices and raising supply risks for the industry.This could mark the third major supply disruption for the auto industry in recent years, after the rare earth magnet crunch triggered by China’s restrictions last year, and the global semiconductor shortage during the covid pandemic years of 2020-22.At least two industry executives said that if supply pressures persist, automakers may start facing shortages by the end of the next financial year (FY27).“Internal estimates suggest that the supply crunch will get serious towards the last two quarters of the next financial year, which is why there is a rush to prepare now,” one of the executives mentioned above said on the condition of anonymity.The issue was earlier flagged to analysts by Mahindra and Mahindra Ltd (M&M), which makes electric cars, and e-two-wheeler manufacturer Ather Energy Ltd.“Memory chips are something that is a supply chain risk/price sensitive thing because shortage obviously is driving premiums in memory chips,” M&M executive director Rajesh Jejurikar told analysts and investors on an 11 February earnings call.

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National Aluminium Co. Ltd’s (Nalco) shares are up more than 8% since the West Asia conflict began as some aluminium producers in the region have been forced to suspend operations, creating a supply shortage.