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Subscribe to enjoy similar stories.The Centre is planning to roll back a significant number of quality control orders (QCOs) imposed on input materials, aiming to ease compliance burdens and support manufacturing amid US-Iran war-led disruptions.The exercise, being led by the consumer affairs department, will be completed in phases, and all line ministries have been asked to identify products that could benefit from the removal of quality controls, said two government officials familiar with the discussions.“The proposed rollback is expected to focus on input materials where domestic capacity remains limited or where mandatory certification has disrupted supply chains,” said the first government official, on the condition of anonymity.The move follows a NITI Aayog committee recommendation to ease QCOs to augment manufacturing and ensure the availability of raw materials at affordable rates.“As recommended by NITI Aayog, we have asked line ministries to identify all such QCOs that can be withdrawn without impacting quality and domestic industry,” said the second official, also on the condition of anonymity.This official, however, maintained that some important QCOs will be introduced, if needed, to protect against substandard imports of finished goods or raw materials.

Subscribe to enjoy similar stories.A body representing alternative investment funds (AIFs) at GIFT International Financial Services Centre (IFSC) asked the government to intervene after the RBI mandated in late March that such funds must be treated as ‘resident Indians’ when reporting foreign assets.In a letter dated 10 April, which Mint has seen, the AIF Chief Financial Officers Association flagged a “critical regulatory overlap” triggered by the RBI's mandate for filing foreign liabilities and assets (FLA) returns, saying it conflicts with the specialized status usually granted to funds in the international zone. GIFT IFSC is a specialized regulatory zone within GIFT City that’s treated as a foreign jurisdiction for financial transactions.The association asked the union government to start a dialogue with the central bank and issue a joint clarification circular exempting IFSCA-registered entities from the FLA return rule.

Subscribe to enjoy similar stories.Hostilities in West Asia may have eased, but oil prices remain well above pre-war levels. Though prices have stayed below $100 a barrel since the ceasefire announcement, conflicting signals from the US and Iran are keeping markets volatile.Mint looks at the near-term outlook.Yes.

Subscribe to enjoy similar stories.MUMBAI: With its iron ore mining leases in Jharkhand and Odisha set to expire by 2030, Tata Steel is preparing for a future that could see fewer permanent workers.The company has slowed hiring of permanent blue-collar workers over the past two years and is sensitizing its existing workforce and unions to a potential transition, including the possibility of moving to a new mine owner.“Tata Steel will see its number of permanent workers transition after 2030 as some of its captive iron ore mining leases come up for expiry,” Atrayee Sanyal, chief people officer at Tata Steel Group told Mint in an interview at the company’s headquarters in Bombay House in Mumbai.At the end of FY25, Tata Steel’s permanent blue-collar workforce stood at 31,794, down by 585 workers compared to FY24, according to the company.Sanyal outlined three possible scenarios for the workforce, depending on the outcome of mandatory auctions for the mines under the amended Mines and Minerals (Development and Regulation) Act. If Tata Steel retains the leases, there will be “no impact on workers”.

Subscribe to enjoy similar stories.NEW DELHI: India’s appetite for Swiss watches is expanding, but the bigger shift is in how consumers are buying them. As the market crossed ₹3,500 crore for the first time in 2025, demand is increasingly being shaped by more informed, deliberate choices—moving away from logo-driven purchases towards craftsmanship, heritage and understated design.“The Indian luxury customer has evolved from buying brands to buying watchmaking,” said Pranav Saboo, managing director and chief executive of Ethos Ltd, one of India’s biggest watch retailersThat shift is showing up across the market.

Subscribe to enjoy similar stories.BENGALURU/MUMBAI: Digital insure-tech firm Acko has let go of about 60 employees, roughly 5% of its workforce, as it undergoes a structural realignment with a greater focus on integrating artificial intelligence (AI) into its operations, multiple people familiar with the matter said. Affected employees are expected to remain with the company until the end of June, the people added.The job cuts come alongside the departure of chief marketing officer Ashish Mishra, who spent nearly five-and-a-half years at Acko after joining in August 2020.

Subscribe to enjoy similar stories.On 13 April, the Reserve Bank of India (RBI) returned Ujjivan Small Finance Bank's (SFB) application for a voluntary transition to a universal bank, asking it to diversify its loan portfolio. RBI had also returned Jana SFB's application in October 2025 for failing eligibility criteria under its April 2024 framework for SFB-to-universal bank transitions. Jana and Ujjivan are expected to reapply.

Subscribe to enjoy similar stories.On Thursday afternoon, Netflix announced that co-founder and chairman of the board Reed Hastings would be stepping down when his term expires later this year “in order to focus on his philanthropy and other pursuits,” according to a letter to shareholders.Hastings founded Netflix in 1997 with Marc Randolph, and took the reins in 1999 when the company was still a DVD-by-mail service. In 2020 he elevated creative executive Ted Sarandos to the co-CEO position, reflecting how important original content had become for Netflix, by then the leading subscription streaming service.

Subscribe to enjoy similar stories.It has been an eventful week – once again dominated by developments around the US-Israel-Iran war.Iran said on Friday (17 April) that the Strait of Hormuz is open. The announcement came almost simultaneously from US President Donald Trump (via Truth Social) and Iranian Foreign Minister Abbas Araghchi (on X).“In line with the ceasefire in Lebanon, the passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep.

Subscribe to enjoy similar stories.From India falling to the sixth rank in the IMF’s GDP rankings to retail inflation rising at a quicker pace in March amid the West Asia war, the moderation in shareholder payouts by TCS to parent Tata Sons, and commercial banks facing fewer penalties from the RBI, indicating improved compliance, here’s a compilation of this week’s news in numbers.India has slipped to the sixth rank globally in gross domestic product (GDP) rankings for 2025 (FY26) and 2026 (FY27), falling behind the UK after holding the fifth spot for three consecutive years, according to the International Monetary Fund's (IMF) latest data.The pullback follows a downward revision in the country’s nominal GDP after the base year was updated from 2011-12 to 2022-23, which corrected previous overestimations, Mint reported. Additionally, a sharp depreciation in the rupee has weakened India’s standing in dollar terms.

Subscribe to enjoy similar stories.Bengaluru: Organized jewellers are pushing lightweight designs, price-lock schemes and new launches amid volatile gold prices ahead of Akshaya Tritiya.The push comes amid sharp volatility in gold prices following the West Asia war, weighing on entry-level demand. Prices have swung widely over the past three months—from a record ₹1.75 lakh per 10gm in January to about ₹1.31 lakh in March, with intermittent rebounds and intraday drops of up to 5%.Akshaya Tritiya, which will be celebrated on Sunday, 19 April, isconsidered auspicious for buying gold.

Subscribe to enjoy similar stories.The trailing impact of disruptions related to goods and services tax (GST) and recent policy changes dulled the March quarter for life insurers. HDFC Life Insurance and ICICI Prudential Life Insurance, India's second and third largest private life insurers respectively, reporting softer growth and lower margins in what is usually their strongest premium season.

Subscribe to enjoy similar stories.The Directorate General of Foreign Trade (DGFT) on Friday authorized 17 banks to import precious metals for the period from 1 April to March 2029, according to an official order.Of these, Union Bank of India and Russia- headquartered SBER Bank are authorised to import only gold, while 15 others, including Axis Bank Ltd, State Bank of India, Indian Overseas Bank, and HDFC Bank Ltd, are authorised to import both gold and silver, the order showed. Bank of India, Deutsche Bank, Federal Bank Ltd and Industrial and Commercial Bank of China Ltd are also on the list.In FY26, Indian Overseas Bank was authorised to import only gold, which has now been expanded to both precious metals, the order showed.

Subscribe to enjoy similar stories.Mumbai: Last week’s euphoria on Dalal Street appears to have cooled, even as global indices outperformed Indian benchmarks. While optimism around US–Iran peace talks lent support, investor activity remained selective, driven more by stock- and sector-specific bets than broad-based momentum.The Nifty 50 and Sensex rose over 1% this week, extending gains after last week’s near 6% surge—their strongest in over five years—but the pace has now moderated.

Subscribe to enjoy similar stories.The artificial-intelligence trade came roaring back to life this week, with the Nasdaq Composite closing at a fresh high on Thursday, marking 12 straight days of gains. Underneath the optimism, however, are some of the same concerns about circular finance that plagued the stocks at the start of the year.Those are valid concerns ahead of a flurry of Big Tech earnings reports due out next week, including Google parent Alphabet, Facebook parent Meta Platforms, Microsoft, and Apple.

Subscribe to enjoy similar stories.Sam Altman, the chief executive officer (CEO) of OpenAI, said at a finance conference in October 2023 that he and his “CEO friends” were running a betting pool on when the first one-person billion-dollar company would be created thanks to artificial intelligence (AI). He didn’t divulge their identities nor their precise predictions.

Subscribe to enjoy similar stories.HYDERABAD: Two weeks after announcing its foundational artificial intelligence models for transcriptions, voice and images, Big Tech firm Microsoft wants to use its Azure cloud business strategy to sign long-term AI contracts with clients.Microsoft’s business model for Azure has found success in the past 12 years of chief executive officer Satya Nadella’s tenure. The company, which follows a July-June financial cycle, reported $281.7 billion in revenue in FY25, out of which its cloud revenue hit $106.2 billion.

Subscribe to enjoy similar stories.NEW DELHI: Orkla India, the listed maker of MTR foods and Eastern spices, is gearing up for its next phase of growth with a cash-rich balance sheet to fund acquisitions, even as it pivots towards convenience foods and digital channels—moves that could stretch its traditional operating model.“We are a cash-generating company. We generate anything between ₹300-400 crore annually… money is not a constraint," Sanjay Sharma, managing director and chief executive officer at Orkla India, said in an interview with Mint.The debt-free company is evaluating partnerships and buyouts of regional brands as it looks to expand beyond its southern stronghold.The push comes as Orkla works to stabilize performance after its listing in November last year, part of its parent’s strategy to create independent portfolio companies and drive local value creation.

Subscribe to enjoy similar stories.MUMBAI: Cement prices across India have climbed to a one-year high after the West Asia conflict pushed up global energy and freight costs, raising input expenses for manufacturers, with analysts expecting further increases that could bring prices close to four-year peak levels.Cement companies have raised prices by ₹15–20 per 50 kg bag this month, lifting all-India average prices by about 5% in April compared with March, according to a Motilal Oswal report dated 10 April. Manufacturers are facing higher costs for fuel, packaging bags and other inputs, with early signs that the price cycle may extend further.Dealers expect additional hikes in the coming weeks if demand remains steady, according to Motilal Oswal analysts.Data from Crisil Intelligence shows cement prices previously peaked at about ₹305 per 50 kg bag in FY23, driven by a surge in global crude oil prices amid geopolitical tensions following Russia’s invasion of Ukraine.

Subscribe to enjoy similar stories.Mumbai: India’s fast-moving consumer goods (FMCG) companies are set to report a largely steady March quarter, with demand holding up despite a complex operating environment. However, a volatile mix of commodity swings, geopolitical tensions and emerging inflationary pressures is beginning to cloud the outlook, even as companies rely on calibrated pricing and cost controls to protect margins.Large listed players such as Hindustan Unilever Ltd (HUL), ITC Ltd, Nestle India, Dabur, Godrej Consumer Products Ltd and Marico Ltd are expected to reflect these cross-currents in their March quarter earnings, which will kick off later this month.“FMCG companies will be able to maintain a status quo in the domestic market this quarter,” said Ankur Bisen, senior partner and head of retail, consumer products, food and e-commerce sectors at consulting firm The Knowledge Company.

Subscribe to enjoy similar stories.In an unusual attempt to get President Trump’s ear, the grandson of Cuban leader Raúl Castro tapped a wealthy Havana entrepreneur to try to personally deliver a letter to the White House last week outside of regular diplomatic channels, said a U.S. official and former U.S.