Mohandas Pai warns that Indian startups are struggling due to limited domestic investment, restrictive regulations, and a challenging business culture. He advocates for urgent policy reforms, increased R&D funding, and enabling insurance and pension fund investments to boost the ecosystem. Pai also urges a shift in mindset to support startups and ensure timely payments from larger companies.
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The Centre has increased financial thresholds for scientific equipment procurement by research institutions, as per revised General Financial Rules. Vice-chancellors and directors can now directly procure instruments up to Rs 2 lakh, while purchase committees can approve up to Rs 25 lakh. Senior authorities can also approve global tenders up to Rs 200 crore, streamlining processes and fostering innovation.
The revamped PM SVANidhi scheme is set to offer street vendors higher subsidised loans and credit cards with a Rs 30,000 limit, thanks to bank participation. Rural vendors migrating to cities will also benefit from these loans, with an additional Rs 10,000 potentially included. This initiative aims to provide accessible capital and reduce reliance on high-interest informal loans.
President Trump signed executive orders to bolster drone security, promote air technologies like electric air taxis and supersonic aircraft, and reduce reliance on Chinese drone manufacturers. A federal task force will enhance airspace protection and counter-drone capabilities. The FAA is instructed to remove the ban on overland supersonic transport, contingent on preventing sonic booms on the ground.
India's engineering exports face significant headwinds as the US prepares to impose a 50% tariff on steel and aluminium imports, effective June 4, 2025. This move, doubling existing duties, threatens approximately $5 billion in annual exports, prompting concerns from the EEPC and AAI.
The IEA cautions that concentrated critical mineral mining could disrupt global supplies and prices, urging diversification. Executive Director Fatih Birol advises India to incentivize electric vehicles to reduce reliance on oil imports, highlighting the economic benefits of EVs. He also lauded India's successful green energy transition, noting the significant shift in investment towards clean energy sources.
A Jefferies report indicates that AI implementation may disproportionately affect entry-level white-collar positions, raising unemployment concerns for recent US university graduates. Sectors like sales, customer support, and software development are particularly vulnerable. While some companies report net employment gains, others acknowledge AI-led staff reductions impacting service quality, highlighting the need for proactive skill development and workplace adaptation.
India's Ministry of Heavy Industries has launched the “Scheme to Promote Manufacturing of Electric Passenger Cars in India” (SPMEPCI) to attract EV manufacturing investments. The scheme offers reduced customs duties on imported EVs for approved applicants who meet minimum investment and localization targets.
Ola Electric experienced a significant downturn in the March quarter, with revenue plummeting by 60% to Rs 649 crore and net losses widening to Rs 870 crore. Deliveries also sharply declined to 51,375 units, reflecting a substantial drop in demand, particularly in the premium segment.
H&M, a publicly traded company since 1974, is witnessing a significant shift towards private ownership as the Persson family, its founders, have aggressively increased their stake. Since 2016, they've invested over $6.6 billion, raising their control to almost 64%. This substantial accumulation fuels speculation about a potential move to take the fast-fashion retailer private, despite the family's denials.
India and the US are progressing towards a bilateral trade agreement, even as the impact of a US court order on potential tariffs is assessed. Commerce Minister Piyush Goyal highlighted the advancements alongside ongoing trade deal negotiations with the EU at the CII's Annual Business Summit 2025.