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India Extends Solar Cell Sourcing Exemption, Raises Manufacturer Concerns
India extended an exemption for open access and net-metering solar projects to use imported cells until December, drawing concern from local manufacturers. The move aims to protect standalone module makers and support domestic capacity, despite fears of shifting demand to imports and impacting investor confidence.
India's Consumption Shifts: Experiences Over Essentials Amid Rising Incomes
Indian consumers are increasingly prioritizing experiences and lifestyle choices over basic needs, driven by rising incomes and easier credit access. Average monthly spending has increased across rural and urban areas, with food now forming a smaller portion of household expenditure, reflecting a broader economic transformation.
Eternal's Q1FY27 Shareholder Letter: Blinkit Drives Growth, Food Delivery Stays Profitable, New Bets in Investment Mode
Eternal's Q1FY27 shareholder letter reveals strong B2C net order value growth, with Blinkit emerging as the primary growth engine and achieving profitability. Food delivery remains a steady profit anchor, while new ventures like Bistro and Nugget are in early investment stages.
IndusInd Bank Reports 72% YoY Net Profit Growth in Q1
IndusInd Bank reported a 72% year-on-year consolidated net profit surge to Rs 1,037 crore in the first quarter, driven by lower provisions and operating expenses. Despite flat Net Interest Income and declining fee income and advances, the bank improved asset quality and capital adequacy.
Amazon Cuts Jobs in Artificial General Intelligence Group
Amazon has reduced roles within its artificial general intelligence (AGI) organization, marking the latest in a series of smaller cuts since January. The company stated the move is to sharpen focus on key initiatives, following recent executive departures and a consolidation of AGI work.
US Tariffs on Generic Drugs Pose Challenge for India's Pharma Industry
US President Trump announced 100-200% tariffs on generic medicines from Aug 2028 unless manufacturing relocates to the US. This poses a significant challenge for India's $30B pharma industry, which supplies 47% of US generic prescriptions, potentially making exports unviable and raising US drug prices.