Editor’s Picks

Dear Reader,

Stocks took another major hit on Monday, with benchmark indices dropping to their lowest levels in eight months. The?Sensex declined more than 1 percent, and the Nifty slipped below the crucial 22,600 mark, reports Neeshita Beura. Today’s slump was triggered by fears about US growth and Trump’s tariff threats that sent Wall Street into a tailspin on Friday. Indian IT stocks, which count the US as their biggest market, tumbled nearly 3 percent. Amid sustained selling by foreign investors, cash segment turnover slipped below Rs 1 lakh crore for the first time in 15 months, reports Ravindra Sonavane.

On the trade front, India is walking a diplomatic tightrope. It is bracing for trade talks with the US that will test Indian diplomacy’s ability to balance Donald Trump’s demands with the need to safeguard local industries. Amid demands for greater market access for US farm goods, India may push for increased exports of its own farm and textile products to the US, report Adrija Chatterjee and Meghna Mittal. The aim is to protect domestic businesses while aiming for a doubling of trade with the US to $500 billion by 2030. Meanwhile, talks on the free trade agreement with the UK resumed in New Delhi. India is seeking greater mobility for its professionals in the UK as part of the proposed FTA. Commerce Minister Piyush Goyal has emphasised the need for a more liberal visa issuance regime, reports Adrija Chatterjee.

With the summer arriving earlier than usual, the cooling industry is rubbing its hands in anticipation of a bumper season, reports Aishwarya Nair. Companies such as Voltas, Crompton Greaves, and Havells are stocking up on air conditioners, fans, and refrigerators, expecting strong demand amid mercury levels soaring in February. With an expected rise in consumer spending, the industry is looking to avoid last year’s supply shortages and make the most of this summer.

In the electric vehicle space, long before Elon Musk announced Tesla’s plans for India, Germany was already leading the charge as a top exporter of EVs to the country, reports Ishaan Gera. In the first 11 months of 2024, 37 percent of India’s imported electric cars came from Germany, second only to China. With Tesla planning to import cars from Germany, it’s likely to boost the nation’s EV exports further. But what’s interesting is that while China dominates in terms of volume, Germany’s EV exports are twice as valuable.

US-based social media platforms in India are facing a compliance conundrum as India’s requirements to tackle child sexual abuse material put them in conflict with American law, reports Aihik Sur. The Ministry of Electronics and Information Technology has asked platforms to report on their efforts, but complying with local rules may violate US laws that mandate reporting exclusively through a US-based NGO.

And finally, do read Manas Chakravarty’s take on Warren Buffett’s latest letter to Berkshire Hathaway shareholders- which has been going viral on social media platforms. With a staggering $330 billion cash pile, Buffett is struggling to find attractive investment opportunities, leading to a surge in government bond holdings. As a result, Berkshire’s investment gains took a hit in 2024 despite a rise in operating earnings.

Regards,

Nalin Mehta

Managing Editor

Moneycontrol