News

This category will talk of the news of the day and our analysis of the event.

As India’s real estate market faces a slowdown, developers are looking for ways to boost their sales. One of the key avenues they are turning to is the growing interest from Non-Resident Indians (NRIs). 

With their strong purchasing power, mainly fueled by the depreciation of the Indian rupee, NRIs are increasingly looking to invest in luxury properties in India. This growing demand from the Indian diaspora, especially in key regions like the United States, the United Kingdom, the United Arab Emirates (UAE), Singapore, and Canada, is becoming a crucial development lifeline. 

As sales in the domestic market slow down, developers are organizing roadshows in these countries to attract overseas buyers, hoping to tap into the potential of the NRI market.

According to developers, NRIs are becoming an essential part of the real estate ecosystem, accounting for a significant portion of sales. This trend is confined to metropolitan cities and extends to emerging urban centers, with NRIs diversifying their investments beyond traditional hot spots like Delhi NCR and Mumbai. Source: Economic Times

The Rapid Growth of India’s Real Estate Market

India’s real estate market has witnessed remarkable growth in recent years, and projections indicate that this growth will only accelerate in the coming decades. The sector, which was valued at Rs. 12,000 crore (US$ 1.72 billion) in 2019, is expected to reach an impressive Rs. 65,000 crore (US$ 9.30 billion) by 2040. Furthermore, India’s real estate sector is forecasted to hit a staggering US$ 1 trillion in market size by 2030, up from US$ 200 billion in 2021. 

Looking further into the future, India’s real estate market is projected to soar to US$ 5-7 trillion by 2047. Some experts believe the market could surpass US$ 10 trillion, making India one of the largest real estate markets globally. Source: IBEF.org

Source: IBEF.org

Key Drivers of Real Estate Growth

A major factor fueling this growth is the increasing demand for infrastructure across various sectors. The retail, hospitality, and commercial real estate sectors have seen substantial expansion, driven by the rapid urbanization of Indian cities and the country’s evolving economic needs. 

Moreover, the real estate sector’s contribution to India’s GDP will reach 13% in 2025. This growth reflects a shift in the country’s development priorities, emphasizing modern infrastructure to support economic growth and a growing middle class. Source: Economic Times

Factors Driving NRI Interest in Indian Real Estate

The growing interest from NRIs in the Indian real estate market can be attributed to several factors. 

  • Strong Purchasing Power Due to Currency Depreciation
    The depreciation of the Indian rupee has made Indian real estate significantly more affordable for NRIs. With incomes often earned in stronger currencies like the US dollar or British pound, NRIs are seeing increased purchasing power, allowing them to invest in high-value properties at attractive prices.
  • Key Regions Contributing to NRI Demand
    NRIs from countries with large, affluent Indian communities, such as the United States, United Kingdom, UAE, Canada, and Singapore, are showing strong interest in the Indian real estate market. These regions host financially capable Indian expats motivated to invest in premium properties in India.
  • Growing Share of NRI Buyers in Sales
    NRIs accounted for 23% of DLF’s total sales in FY24, a significant rise from 14% in FY23 and just 5% in FY22. This surge highlights the increasing role of NRIs in shaping the future of India’s real estate market.

Shift Toward Luxury Properties and High-End Developments

  • NRI Preference for Luxury Living
    A notable trend is the growing demand for luxury properties among NRIs. For example, nearly 27% of the units sold in DLF’s Privana West project in Gurugram were purchased by NRIs. This demonstrates their strong preference for high-end living spaces.
  • Developers Responding to the Shift
    As demand for luxury properties continues to rise, developers are focusing on offering world-class amenities and infrastructure that align with the expectations of global buyers, ensuring that Indian real estate matches the standards of international cities. Source: Economic Times

The Role of Roadshows and Overseas Engagement

To further capitalize on this NRI interest, real estate developers in India are actively reaching out to Indian communities abroad. They organize roadshows and exhibitions in key overseas markets such as the US, UK, Australia, Singapore, and Dubai. 

These roadshows are designed to directly engage with potential buyers and promote India’s diverse range of real estate projects. Developers emphasize the importance of these efforts in connecting with NRIs. They mention that NRIs’ trust in India’s growth story, robust infrastructure development, and evolving lifestyle preferences make Indian real estate a compelling investment destination.

One of the highlights of these efforts is the market in Delhi NCR, which stands out as the only region among India’s top eight cities to register positive growth in home sales during the October-December period of 2024. This growth in Delhi NCR is particularly noteworthy given that, on average, housing sales in India’s major markets dipped by 26% during the same period. 

NRIs Expanding Beyond Traditional Metros

Traditionally, cities like Delhi, Mumbai, and Bangalore have been the focal points for NRI real estate investments. However, there is a noticeable shift in focus as NRIs now look beyond these metropolitan areas to invest in Tier II and III cities. 

According to industry experts, NRIs are increasingly expanding their portfolios to include emerging urban centers, recognizing the growth potential these cities offer. With their affordable property prices and good future prospects, these cities are becoming attractive to NRIs seeking both residential properties and investment opportunities.

One region that is growing interest is the tri-city area of Chandigarh, Mohali, and Panchkula in northern India. Known for its modern infrastructure and quality of life, this area has become a hub for NRI investments.

Similarly, areas on the outskirts of Delhi, such as Bahadurgarh and Rohtak, are also gaining traction. These locations offer more affordable property prices and the potential for higher rental yields, which make them appealing to NRIs looking for significant returns on investment.

A real estate developer like AIPL, which is undertaking a large-scale project in Ludhiana, is also seeing a surge in interest from overseas buyers. This illustrates how even more miniature cities are becoming increasingly popular among NRIs. The lower cost of living and higher rental yields make these areas good alternatives to the high-priced real estate markets in metro cities.

The Road Ahead for India’s Real Estate Market

India’s real estate sector is entering a new era of global integration, where investment from domestic buyers and NRIs will play an integral role in shaping its future. The growing confidence in India’s economy, supported by strong fundamentals, a rapidly expanding infrastructure network, and its emergence as a preferred destination for multinational corporations, is fuelling the demand for premium real estate. 

This is further boosted by the increasing number of Global Capability Centers (GCCs) being set up in India, which are creating high-paying job opportunities and driving the demand for luxury housing.

The NRI segment will likely continue playing a pivotal role in this growth, with developers seeking to connect with Indian communities worldwide. As long as the global appeal of India’s real estate market remains strong and the purchasing power of NRIs continues to grow, India’s luxury property market is set to head in the right direction. 

Conclusion

As India faces a slowdown in its domestic real estate market, the NRI community’s interest is becoming more important than ever. With their strong financial backing and increasing interest in luxury homes, NRIs are helping stabilize and propel India’s real estate sector forward. 

Developers actively reach out to these buyers through roadshows and targeted marketing efforts in key international markets, ensuring that the NRI community remains an integral part of the Indian real estate landscape.

FAQs

  1. Why are realtors targeting NRIs now?

    Slowing domestic sales has made realtors seek NRI investment, leveraging their higher purchasing power and interest in Indian real estate, especially with long-term market growth projections.

  2. What benefits do NRIs find in Indian property? 

    NRIs find investment potential, emotional connection, and diversification in Indian real estate. Long-term growth forecasts of US$5-7 trillion by 2047 make it a good option.

  3. How is the market expected to reach US$5-7 trillion?

    Urbanization, rising incomes, and infrastructural development are key drivers. Government policies and increased foreign investment contribute to the projected growth by 2047.

  4. What types of properties are NRIs typically interested in?

    NRIs often prefer luxury apartments, villas, and commercial properties in prime locations. They seek investments with high rental yields and long-term appreciation potential.

  5. What challenges do NRIs face when investing in India? 

    NRIs encounter challenges like legal complexities, documentation issues, and currency fluctuations. Reputable realtors assist in navigating these, ensuring smooth transactions and secure investments.

Today’s market is set against major economic events, corporate earnings, geopolitical developments, and central bank policies that could influence market movements across Asia, the U.S., and Europe. Each factor shapes the day ahead, from Wall Street’s overnight performance to crude oil fluctuations and China’s economic measures.

Whether you’re an active investor, a day trader, or someone keeping an eye on the markets, staying ahead of global cues is crucial. So, let’s break down the key market-moving triggers straightforwardly so you can grasp the bigger picture and make sense of what’s happening. 

Asian Markets: Positive Momentum

Asian markets have started the week on a positive note. Japan’s Nikkei 225 opened 0.99% higher, with the broader Topix index gaining 1.10%. South Korea’s Kospi climbed 1.23% at the open, and the small-cap Kosdaq edged up 0.32%. 

IndexChange from Previous Close (%)MTD (%)YTD (%)
Topix1.273.266.08
Nikkei1.411.630.94
Hang Seng0.714.6422.2
Taiwan1.19-4.27-2.42
Kospi1.462.8612.46
Source: Money Control

China’s announcements partly drive this optimism to boost domestic consumption through various economic measures. The Chinese State Council revealed plans to increase residents’ income and implement a childcare subsidy scheme to stimulate spending, supporting expectations for a revival in Chinese demand. 

AD 4nXeLaodnF DEl5rtgIFdwaTFSwZAK57pNjXlTS7vmOx07z0Cs9dT38Nq39GLkvd2E28UMCpnxDVgoIZnWoexIXIMcrsgIwA1ctAI TRWJH4KM2EOaNVf2s8BiHGlbXHNzO3wPswXg?key=9NMzOCgmdXquEfnC3VZEXqhu
Source: Money Control

Federal Reserve Meeting: Interest Rate Decisions

The U.S. Federal Reserve is set to begin its two-day Federal Open Market Committee (FOMC) meeting tomorrow, March 18. The central bank is expected to keep interest rates unchanged in the 4.25%-4.50% range after cutting rates by 100 basis points since September 2024. Fed Chair Jerome Powell recently warned that rising tariffs could complicate inflation management. Investors will closely monitor the Fed’s statements for insights into future monetary policy.

New Tariffs and Global Responses

Trade tensions remain a key concern as President Trump’s tariff policies rattle global markets. The U.S. has implemented new tariffs, prompting retaliation from the European Union and others, resulting in significant weekly market losses over the past month. These developments have added to market uncertainty, influencing investor sentiment worldwide.
Source: Money Control

U.S. Markets: Rebound Amidst Volatility

On Friday, U.S. stocks experienced their best rally since the election. The S&P 500 index increased by 2.1%, the Dow Jones Industrial Average rose by 1.7%, and the Nasdaq Composite climbed by 2.6%. Despite these gains, the week ended with declines across all major indexes: the S&P 500 fell by 2.3%, the Dow by 3.1%, and the Nasdaq by 2.4%. Investors remain cautious due to ongoing concerns about a potential recession.

IndexChange from Previous Close (%)MTD (%)YTD (%)
Dow Jones1.65-5.91-0.89
S&P 5002.13-5.81-2.56
Nasdaq2.61-6.34-6.56
AD 4nXfTKpaJv 0fULCWUGv MOS6kGKdAbFo7DaZmfUQZPMyOH3m9bBA60LuImK o6tDMXLv
Source: Money Control

Crude Oil Prices: Geopolitical Tensions and Supply Concerns

Oil prices increased significantly on Monday amid geopolitical tensions from the U.S. Defense Secretary’s remarks on Yemen’s Houthis, raising concerns about supply disruptions. Brent futures rose 1.06% to $71.33 per barrel, while U.S. West Texas Intermediate grew by 1.12% to $67.94. These developments could impact sectors sensitive to energy costs.

Currency Markets: Dollar Weakness and Euro Strength

The U.S. dollar remains close to a five-month low against major currencies due to inconsistent trade policies and weak macroeconomic data. The euro is near a five-month high after German parties agreed on a fiscal deal to boost defense spending and economic growth. The euro stands at $1.0881, and the dollar index is at 103.71, down almost 6% from January highs. Currency fluctuations can have broad implications for international markets and corporate earnings.
Source: Financial Express

Gold Prices: Safe-Haven Demand

Gold prices crossed the $3,000 mark for the first time on Friday, marking the 13th all-time high this year. This surge comes as investors seek safe-haven assets amid growing trade war tensions and fresh tariffs imposed by President Trump, adding to market uncertainty. Elevated gold prices often reflect investor caution regarding economic stability.

Change from Previous Close (%)MTD (%)YTD (%)
Gold0.254.6713.96
Silver0.28.717.11
AD 4nXdr83apSB51e2NiMLz45lK7mMEx5tSoJplTS5bzOnz6kglogzIG1J4naQHKZ1O5BiBf8 iaa tQb1QWNByYY5PjDfHw MlZf0mGbLRcf crM9p2 lhFNQRqJO5JPd6YdTgy9B05MQ?key=9NMzOCgmdXquEfnC3VZEXqhu
Source: Money Control

Corporate Developments: Earnings and Market Movers

United Airlines Holdings Inc. shares rose by 5.4% to $73.67 on Friday, ending a six-day losing streak. Despite this increase, the stock remains 36.5% below the 52-week high of $116 achieved in January. Additionally, Nvidia’s upcoming GTC event, where the company may unveil its GB300 AI chip, is anticipated to influence the market, particularly for AI stocks such as Nvidia, Broadcom, and Taiwan Semiconductor. These corporate events can have ripple effects across related sectors. Source: Investors

Political Developments: Government Spending and Market Sentiment

The stock market received a boost with news that the U.S. government would likely avoid a shutdown. Senate Minority Leader Chuck Schumer supported a six-month provisional bill proposed by Republicans, alleviating concerns about a prolonged government closure. This decision removed a layer of uncertainty in an already volatile week, bolstering investor confidence. Political stability often plays a crucial role in market performance. Source: Business Insider

Economic Indicators: Consumer Sentiment and Industrial Output

U.S. consumer sentiment hit a two-and-a-half-year low, reflecting concerns about tariffs and inflation. In contrast, China’s industrial output grew by 5.9%, though property investment continued to lag. These indicators provide insights into economic health and potential future demand.

Conclusion

Market sentiment is being steered by a mix of economic data, corporate actions, and geopolitical factors, all of which will play a role in influencing how stocks, commodities, and currencies perform.

While U.S. markets are bouncing back after last week’s turbulence, Federal Reserve policies remain key concerns. Asian markets are off to a positive start, but investors still weigh China’s economic measures. Meanwhile, oil prices, gold trends, and currency movements complicate the day’s outlook. Market conditions can shift rapidly; being informed is your best asset in navigating the uncertainties. Stay tuned, stay alert, and invest wisely!

India’s foreign exchange reserves have surged by $15.27 billion to $653.97 billion as of March 7, 2025. This is the largest weekly jump in two years and underscores the country’s growing economic resilience. The sudden spike in reserves comes amid a complex global financial landscape characterized by volatile capital flows, inflationary pressures, and geopolitical uncertainties.

A strong forex reserve position is a crucial economic indicator, signaling financial stability and strengthening investor confidence. As India emerges as one of the fastest-growing economies, the reserve surge brings opportunities and challenges. This article delves into the history of India’s forex reserves, the significance of this surge, and its impact on investments and the broader economy.

India’s Forex Reserves: A Historical Perspective

Significant milestones have marked India’s journey in accumulating foreign exchange reserves:

  • 1960s-1980s: 1960 forex reserves covered just 8.6 weeks of imports. By 1980, India’s reserves stood at over $7 billion, surpassing China’s.
  • 1991 Economic Crisis: By 1990, reserves had dwindled to a critical level, covering only 4.8 weeks of imports. This led to the liberalization of the economy and structural reforms.
  • 2004 Milestone: India’s forex reserves crossed the $100 billion mark, reflecting increased foreign investment and export growth.
  • 2020-2024 Boom: Reserves touched $500 billion in June 2020, surpassing $600 billion in June 2021. The highest recorded level was $704.89 billion in September 2024, following strong capital inflows and policy measures.

The latest reserve increase is part of this long-term upward trajectory, reinforcing India’s position as a robust economic force.

Source: RBI, Business Standard, StatistaAD 4nXdAU3VtduPcmHxJbw6dut1lQZj CevtBDSY0lnGotrBSw1 yYdk4PluVcSOAFxyYpgLwroKp1CVUb7eRcNJpYcAjkaaV E8sqRx1dryr6JI7eTu3HcTHkBCzWr uNMkTDW0Gyw5Jw?key=ubLcCf6qbSiG1

Source: RBI, Business Standard, Statista

Implications of the Surge in Forex Reserves

The significant increase in forex reserves has far-reaching economic implications, influencing monetary policy, financial stability, and investment flows.

1. Strengthening the Rupee and Exchange Rate Stability

The Reserve Bank of India (RBI) actively manages the exchange rate by buying and selling foreign currency. Its strong reserve position allows the RBI to intervene in currency markets, mitigating volatility and preventing excessive rupee depreciation. This is particularly crucial when global markets experience fluctuations due to shifting U.S. Federal Reserve policies and geopolitical tensions.

2. Boosting India’s Import Cover and Trade Resilience

Forex reserves are a buffer to finance imports in case of external economic shocks. India’s rising energy and technology imports make it essential to maintain adequate reserves. The current level provides over 10 months of import cover, ensuring the country can manage supply-chain disruptions and oil price volatility.

3. Enhancing Sovereign Credit Ratings and Investor Confidence

Credit rating agencies closely monitor forex reserves as an indicator of financial stability. A higher reserve position strengthens India’s sovereign credit profile, potentially leading to lower borrowing costs for the government and corporates. This, in turn, attracts foreign direct investment (FDI) and portfolio inflows, bolstering economic growth.

4. Greater Flexibility in Monetary Policy

With ample reserves, the RBI gains greater flexibility in managing liquidity and interest rates. This enables the central bank to focus on domestic economic priorities, such as controlling inflation and fostering sustainable growth, without the immediate risk of external shocks triggering capital outflows.

5. Reducing External Debt Vulnerability

India’s external debt obligations, including repayments of government and corporate borrowings, are better managed with strong forex reserves. This reduces dependence on foreign borrowing and insulates the economy from sudden capital flight during periods of global financial stress.

6. Supporting Economic Growth and Market Stability

Higher forex reserves contribute to a stable macroeconomic environment, benefiting industries reliant on global trade and investment. Information technology (IT), pharmaceuticals, and manufacturing sectors benefit from improved investor sentiment and enhanced economic credibility.

Impact on Indian Investments

The surge in forex reserves has a direct and indirect impact on investment dynamics across asset classes:

1. Increased Foreign Institutional Investment (FII) Inflows

Foreign institutional investors (FIIs) track reserve levels to assess India’s economic health. Rising reserves signal confidence in the economy, leading to increased capital inflows into equity and debt markets. The Indian stock market, already witnessing strong performance, could see further growth as FIIs seek stability in emerging markets.

2. Stable Bond Yields and Lower Interest Rates

Higher reserves contribute to a stable bond market by reducing risks associated with external debt repayments. It helps keep government bond yields in check, lowering borrowing costs for businesses and consumers.

3. Strengthened Banking Sector Liquidity

A higher forex reserve position ensures that the RBI has sufficient liquidity to inject into the banking system if required. This facilitates credit expansion, supporting small and medium enterprises (SMEs) and infrastructure development projects.

4. Impact on Gold Reserves and Diversification Strategies

India’s forex reserves include foreign currency assets, gold reserves, and SDRs (Special Drawing Rights). With reserves rising, the RBI may diversify holdings by increasing gold reserves, reducing exposure to U.S. dollar fluctuations, and hedging against global uncertainties.

5. Potential for Currency Appreciation and Export Competitiveness

While a strong forex position supports currency stability, excessive reserve accumulation could lead to rupee appreciation. This may impact export competitiveness, making Indian goods more expensive in global markets. Policymakers will need to balance exchange rate management to ensure continued export growth.

Looking Ahead: Future Considerations

While India’s forex reserves have surged, certain challenges remain:

  • Forward Dollar Positions: The RBI’s net short dollar position in forwards and futures reached $77.5 billion in January 2025. This reduces the effective import cover to 9.4 months instead of 10.7 months 
  • Global Economic Trends: International interest rate decisions, particularly those of the U.S. Federal Reserve, influence capital flows. Any shift in global risk sentiment could impact reserve accumulation and currency movements.
  • Inflation and Policy Adjustments: Managing inflation while sustaining growth remains a challenge. The RBI’s ability to navigate monetary policy effectively will determine the long-term impact of reserve accumulation.(Reuters)  

Conclusion

India’s record surge in forex reserves marks a significant milestone, reinforcing economic stability and enhancing investor confidence. As the country continues its growth trajectory, prudent reserve management will be crucial in sustaining long-term financial resilience. 

With global uncertainties persisting, India’s strong reserve position provides a much-needed cushion against external shocks, ensuring macroeconomic stability and continued investment inflows. 

How often have you tossed and turned in bed, adjusting pillows, flipping the mattress, or questioning your life choices at 3 AM? A good night’s sleep is essential and should be simple, but for most of us, it’s an endless struggle between comfort and compromise. 

Two restless minds didn’t just dream of better sleep; they woke up and built a ₹2,280 crore empire to make it happen.

Want to know how they built this business? Read on

Story of Wakefit Storytelling 00 02

Of Foam & Frustration

It was 2016. Ankit Garg was busy planning his wedding, setting up his new home, and shopping for furniture like every other couple. But one thing kept him awake (literally): mattresses.

A chemical engineer with experience in foaming at Bayer Material Sciences, Ankit knew the raw materials inside out. What he didn’t understand was why high-quality mattresses cost a fortune.

The price gap between manufacturing and retail was absurd. That’s when he turned to his ‘HelpChat’ colleague, Chaitanya Ramalingegowda.

Story of Wakefit Storytelling 00 03

Chaitanya’s Road to Reinvention

Chaitanya had seen a different side of entrepreneurship. In 2011, he left a cushy consulting career to pursue entrepreneurship, but reality hit hard. His first dating app, built around shared experiences, flopped—India wasn’t ready. 

His second, a women’s online community, showed promise but soon became a struggle for survival. Both startups failed fast, draining his savings and pushing him to burnout.

By 2014, he shut it down, took up consulting to pay rent, and joined Helpchat as VP of Operations, carrying hard-earned lessons.

Story of Wakefit Storytelling 00 04

Two Founders and One Shared Vision

The aim was to disrupt an industry that desperately needed a wake-up call. Mattress shopping in India was stuck in the past.

Customers had to visit showrooms, bounce from one overpriced option to another, and haggle with salespeople who pushed whatever had the highest margins.

Quality came at a steep cost, and the process was anything but customer-friendly.

Story of Wakefit Storytelling 00 05

Disrupting the Sleep Market

Ankit and Chaitanya saw a chance to shake up the sleep market. The Direct-to-Consumer (D2C) wave was picking up, and if Casper could redefine bedtime in the US, why not India?

By cutting out mediators, they could deliver premium mattresses straight to consumers—at nearly half the price.
But there was just one tiny problem: trust.


Indians had only ever bought mattresses after physically testing them. Convincing people to buy online? Nearly impossible.

That’s when Wakefit’s game-changing strategy was born. Trust was missing. And Wakefit needed to build it—fast.
The solution?

A 30-day free trial. Sleep on it. If you don’t love it, return it—no questions asked.

Story of Wakefit Storytelling 00 06

That Kept Investors Tossing and Turning

Investors weren’t convinced. “What if customers never return it?” “What if they misuse it?” “Can you trust strangers?” The doubts kept piling up.

But Ankit and Chaitanya believed in their strategy. After all, the trust had once cost Chaitanya his savings. This time, he was betting on it to build an empire.

The doubts were plenty, but the risk paid off. Word spread like wildfire, and orders started rolling in.

Customers who would never have considered an online mattress purchase suddenly saw the appeal—premium quality at half the price, delivered to their doorstep, with zero risks.

Story of Wakefit Storytelling 00 07

Showroom Markups to Sleep Science

With an initial investment of just ₹30 lakh, they set up their manufacturing unit, sourced high-quality raw materials, and started making premium memory foam mattresses—without showroom markups. 

But Wakefit wasn’t just selling a product; it was selling a revolution in sleep.

The duo personally handled deliveries for their first 100 customers, listening, learning, and tweaking everything from firmness to packaging.

Every insight helped refine their products, shaping Wakefit into a brand that Indians could finally trust.

Story of Wakefit Storytelling 00 08

Wakefit’s Sleepy Yet Smart Marketing

No expensive TV ads or over-the-top celebrity endorsements. Instead, Wakefit leaned into humor, relatability, and digital-first storytelling to win hearts.

Their quirky campaigns—like an insomniac chatting with his mattress—struck a chord with millennials and Gen Z. But the real game-changer? Their commitment to making sleep a serious (yet fun) conversation.

Take Kumbhkaran, Wakefit’s Chief Sleep Officer—a character so dedicated to rest that he even has a LinkedIn profile. Emails, newsletters, and customer communication added a playful, personal touch to the brand. 

Then there’s BaaBaa, the sheep, the #KnowMoreSleepBetter campaign. Wakefit’s BaaBaa became the friendly face guiding customers toward better sleep.

And if that was not enough, then Wakefit’s Sleep Internship—paying people to sleep and research their products.

Now in its fourth season, the initiative has drawn applications from across the globe.

Story of Wakefit Storytelling 00 09

To Rocket Growth

Wakefit was growing fast—revenue shot up from ₹6.75 crore in FY17 to ₹80 crore in FY19. But there was a catch. Despite impressive numbers, no VC wanted to invest.

Chaitanya pitched to 42 investors—all declined. The breakthrough came in December 2018 when Sequoia saw the potential and backed Wakefit.

More funding followed—₹185 crore in Series B (2020) and ₹200 crore in Series C (2021). With the fresh capital, Wakefit scaled aggressively, investing in R&D, manufacturing, and expanding product lines.

By 2022, Wakefit had crossed ₹600 crore in revenue. Today, it’s a ₹2,280 crore brand—a leader in India’s sleep industry.

Story of Wakefit Storytelling 00 10

The Comfort Revolution

Wakefit wasn’t just selling mattresses anymore. It was redefining how India sleeps. The brand expanded into pillows, furniture, and even sleep-tech devices.

Customers could now buy ergonomic sofas, study tables, bookshelves, and coffee tables to make homes more comfortable.

The D2C model continued to be Wakefit’s biggest strength. By eliminating mediators, they kept prices 50% lower than competitors, making premium sleep solutions accessible to millions.

Their 22 experience centers across significant cities allowed customers to explore products firsthand, strengthening trust further.

Story of Wakefit Storytelling 00 11

Gurukul, Carpentry & The Future of Wakefit

Wakefit is not slowing down. To maintain quality while scaling, the brand launched Wakefit Gurukul—a training program for 200+ carpenters, ensuring craftsmanship at every level.

With nine dedicated factories, a product range expanding beyond sleep, and a relentless focus on innovation, Wakefit aims to build India’s comfort ecosystem.

Mahanagar Telephone Nigam Ltd (MTNL) shares jumped over 13% on Thursday, March 13. The stock soared to ₹48.93 on NSE, driven largely by the company’s successful asset monetization initiative, which helped MTNL raise more than ₹2,135 crore.

Source: NSE

Minister of State for Communications, Pemmasani Chandra Sekhar, informed Parliament that BSNL and MTNL have collectively generated Rs 12,984.86 crore through asset monetization since 2019. Source: Economic Times/Moneycontrol

How Much Have BSNL and MTNL Earned So Far from Monetization?

Interestingly, MTNL isn’t the only telecom PSU (public sector undertaking) making money in this way. Since 2019, both BSNL and MTNL have earned a massive ₹12,984.86 crore through asset sales, according to government data shared in Parliament.

Here’s a breakdown:

  • BSNL has earned ₹2,387.82 crore from asset monetization directly.
  • BSNL’s total monetization earnings stand at ₹8,204.18 crore, while MTNL has earned ₹258.25 crore from assets like towers and fiber until January 2025. 
  • MTNL’s recent monetization move adds a huge ₹2,135 crore; BSNL has also been selling off unutilized assets, adding to a substantial sum over time. Source: Economic Times/Moneycontrol

What Triggered the Rally in MTNL’s Stock Price?

The big push came when the Minister of State for Communications revealed in Lok Sabha that MTNL earned ₹2,135 crore by monetizing its land and building assets. This announcement was part of a broader update on how state-owned telecom giants like BSNL and MTNL leverage their non-core assets to raise funds and improve financial health.

The government’s asset monetization strategy essentially involves selling or leasing properties, fiber networks, towers, and other physical assets that these companies don’t immediately need. This way, they can generate revenue without depending solely on their traditional telecom business. Source: Economic Times/Moneycontrol

What Kind of Assets Are Being Monetized?

According to the minister’s statement, BSNL and MTNL only monetize land, buildings, towers, and fiber assets they don’t need for their future use. These are typically properties inherited from when telecom services were heavily government-run or assets no longer strategically important.

The Minister emphasized that these are surplus assets, and the companies retain full ownership rights to transfer them. 

Why Is the Government Pushing Asset Monetization?

The move is part of the government’s broader strategy to revive loss-making telecom PSUs. Over the years, MTNL and BSNL have faced stiff competition from private players like Reliance Jio, Bharti Airtel, and Vodafone Idea, which has led to massive losses, especially due to outdated technology and declining subscriber bases.

By selling unused assets, these companies can:

  • Raise immediate cash to clear debts.
  • Fund modernization efforts like rolling out 4G/5G services.
  • Improve their balance sheets, making them more stable for future collaborations or investments.

The government closely monitors the asset monetization policy to ensure it’s implemented effectively and benefits the companies long-term.

MTNL Share Price Journey: A Rollercoaster Ride

Let’s look at how MTNL’s shares have performed over time. It’s been quite a bumpy ride.

1. Performance in the Past Year:

On a year-to-date (YTD) basis, MTNL’s stock has fallen by 15.66%.

2. Last Six Months:

  • Over the past six months, the stock has fallen 23.25%, reflecting broader market uncertainties and specific issues related to MTNL’s business performance.

3. Last Three Months:

  • In the three months leading up to March, MTNL’s shares were down 25.95%, showing that recent investor sentiment has been cautious — likely due to concerns over profitability and future growth.

4. One Month Overview:

  • Even in the last month, the stock price has dropped 12.44%, making Thursday’s rally an important positive reversal. Source: Economic Times

What Does This Mean for Investors?

The surge in MTNL’s stock is good news for existing MTNL shareholders, but what about new investors or those considering buying in now? Here’s a simplified view:

Positive Signs:

  • Significant cash inflow from asset monetization can improve MTNL’s financial health.
  • A clear government-backed revival strategy could support future growth if implemented well.
  • Market recognition of the monetization effort, as reflected in the share price jump.

Risks to Consider:

  • MTNL still has a weak core telecom business, with intense competition from private giants.
  • Revenue from telecom operations is not growing fast, so reliance on one-time asset sales isn’t a long-term solution.
  • The stock remains highly volatile, with steep rises and falls—making it risky for short-term investors.

What Lies Ahead for MTNL and BSNL?

While MTNL has won with this monetization, the road ahead remains challenging. Both BSNL and MTNL are working to roll out 4G services, and there’s talk about upgrading to 5G in the future. But the success of these plans depends on:

  • Timely government support and funding.
  • Efficient use of funds raised from asset sales.
  • Ability to compete with established players like Reliance Jio and Airtel, who already dominate the market with cutting-edge technology and pricing strategies.

Moreover, customer retention and network modernization will be key if these PSUs want to become relevant players again.

Final Thoughts

Retail investors wondering whether to jump into MTNL now should be cautious. 

  • The surge is driven by a one-time event—monetization—not necessarily by improvements in core business performance.
  • MTNL’s overall telecom operations remain stressed, and future profitability is uncertain.
  • Asset sales may not be a sustainable way to keep the company afloat in the long run.

The 13% surge in MTNL’s share price reflects investor optimism over its recent asset monetization success. However, for sustained growth, MTNL must address deeper issues like competitive positioning and network expansion. While the government’s support and smart monetization of non-core assets offer a much-needed breather, the next few quarters will be crucial to watch.

So, whether you’re already invested or thinking about it, keep an eye on how MTNL uses this money and whether it can revive its business in a fiercely competitive market.

FAQs

  1. Why did MTNL shares surge?

    MTNL shares rose over 13% due to a Rs 2,135 crore boost from asset monetization, improving its financial stability and investor confidence.

  2. What is asset monetization?

    Asset monetization is when a company sells or leases its assets to generate revenue. In MTNL’s case, it involved selling properties.

  3. How does this boost benefit MTNL?

    The financial boost helps MTNL reduce debt, improve operational efficiency, and potentially invest in infrastructure upgrades.

  4. Is this surge sustainable?

    Sustainability depends on MTNL’s continued financial management, operational improvements, and market conditions.

  5. What does this mean for MTNL’s future?

    The boost offers MTNL a chance for revitalization, but long-term success requires strategic planning and effective execution.

Global markets are heading in opposite directions. While Wall Street struggles with uncertainty, Hong Kong’s stock market is on a winning streak, drawing the attention of investors worldwide. The Hang Seng Index has surged past 24,000 for the first time in three years, fueled by billions in fresh investments from mainland China.

Hong Kong’s stock market has emerged as one of the biggest beneficiaries of the turbulence surrounding Donald Trump’s initial days in office. Since his presidency began, the Hang Seng Index has soared by 21%, making it the top-performing market globally. In stark contrast, the S&P 500 has declined by approximately 7%, falling behind most other major indices. The gap between these two benchmarks has now widened to levels not seen since the dotcom crash in 2000, based on a 90-day correlation measure.

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Source: Yahoo! Finance

This rapid growth comes when U.S. tech stocks are underperforming, economic uncertainty looms over Wall Street, and China’s government is implementing aggressive stimulus measures. But what exactly is driving this contrast? Here are five key reasons why Hong Kong’s market is booming while Wall Street faces turmoil.

Influx of Mainland Chinese Capital

One of the most significant factors behind Hong Kong’s stock market surge is the massive influx of capital from mainland Chinese investors. The numbers speak for themselves:

  • On February 26, 2025, mainland investors bought HK$22.4 billion ($2.88 billion) worth of Hong Kong stocks – the highest daily purchase since early 2021.
  • The next day, an additional HK$5.5 billion was invested, continuing the strong momentum.
  • The Tracker Fund of Hong Kong saw over HK$9 billion in purchases, showing investor preference for diversified exposure to the market.

This wave of investments has provided Hong Kong’s market with a liquidity boost, strengthening investor sentiment and increasing stock prices. The Hang Seng Index has responded by climbing to a 20-month high.

Beijing’s Economic Stimulus Measures

China’s economic policies have played a crucial role in fueling the rally in Hong Kong’s markets. Over the past few months, Beijing has rolled out extensive stimulus measures, and the impact is evident in market performance:

  • Between September 13 and October 2, 2024, China’s total market capitalization surged from $7.95 trillion to $10.1 trillion, a massive $2 trillion increase.
  • Hong Kong’s stock market capitalization also rose sharply from $4.79 trillion to $6 trillion during the same period.

This dramatic rise reflects the effect of Beijing’s financial support initiatives, which include:

  • Cutting interest rates to make borrowing cheaper and stimulate economic activity.
  • Offering targeted fiscal support to struggling sectors, ensuring liquidity and market confidence.
  • Implementing investor-friendly policies that promote capital inflows into Hong Kong’s market.

These measures have reinforced Hong Kong’s position as a financial hub, attracting investors seeking stability and growth.

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Source: Yahoo! Finance

Resurgence of Chinese Technology Giants

Hong Kong’s stock market has received a significant boost from the resurgence of Chinese technology companies, which have experienced a considerable rebound in valuations. A key catalyst has been the rise of China’s AI sector:

  • The launch of DeepSeek’s AI-powered chatbot has intensified the global competition in artificial intelligence, positioning China’s tech firms as serious contenders to U.S. giants.
  • This renewed enthusiasm for Chinese technology stocks has pushed the Hang Seng Index above 24,000 points for the first time in three years.
  • Alibaba, Tencent, and Meituan have been among the biggest gainers, with their stock prices rising sharply as investors return to the Chinese tech sector.

As global investors look beyond the struggling U.S. tech market, China’s technology stocks have emerged as a preferred alternative, reinforcing Hong Kong’s stock rally.

Shift in Global Investment Focus

Investor sentiment is shifting as the U.S. market grapples with uncertainty, leading global funds to reallocate capital toward Hong Kong and Chinese equities. Several factors are driving this shift:

  • U.S. tech stocks have been struggling, with major names like Nvidia and Tesla experiencing significant losses in 2025.
  • Uncertainty surrounding U.S. economic policies and tariffs under the Trump administration has created a cautious investment environment.
  • The rise of Chinese AI and tech companies has attracted international investors, shifting capital flows toward Hong Kong’s market.

As Wall Street faces headwinds, the Hong Kong Stock Exchange has positioned itself as a more stable and promising investment destination, further fueling its momentum.

Divergent Economic Policies and Market Sentiment

The economic policies of China and the United States are moving in opposite directions, influencing investor sentiment and driving contrasting market performances:

  • U.S. markets are under pressure due to concerns over tariffs, inflation, and tech underperformance.
  • Conversely, China has introduced aggressive pro-growth policies that have bolstered investor confidence and supported the rally in Hong Kong’s stocks.
  • Wall Street has seen a wave of sell-offs, whereas Hong Kong’s market has benefited from renewed optimism and strong capital inflows.

As a result, while U.S. investors navigate market volatility, Hong Kong has emerged as a financial hotspot, with investors capitalizing on its upward trajectory.

Conclusion

The stark contrast between Hong Kong’s booming stock market and Wall Street’s struggles stems from several key factors. Mainland China’s capital inflows and Beijing’s economic stimulus have fueled Hong Kong’s growth, while the resurgence of Chinese tech giants has drawn global investors. A shift in investment focus away from the U.S. and diverging economic policies have further widened the gap. As Hong Kong solidifies its position as a global financial hub, investors are closely watching these trends, which could shape the future of global markets.

Related Posts

Blackstone’s Investment Journey in India

Blackstone began engaging with India two decades ago and has significantly expanded its footprint across various sectors. As of 2025, its investments in India have reached approximately $50 billion, encompassing private equity, real estate, technology, data centers, and healthcare. 

SectorInvestment Highlights
Real Estate– Embassy Office Parks REIT: In December 2023, Blackstone announced plans to divest its 23.59% stake, valued at $833 million, in Embassy Office Parks, India’s largest real estate investment trust. reuters.com
Global Village Tech Park: In 2019, Blackstone, in partnership with Salarpuria Sattva, acquired this tech park in Bengaluru, emphasizing its commitment to India’s IT infrastructure. en.wikipedia.org
IT Services– Mphasis: Blackstone acquired a controlling stake in Mphasis, a leading IT services firm, highlighting its focus on India’s technology sector. en.wikipedia.org
Renewable Energy– Hindustan Power Projects: Blackstone-backed Hindustan Power projects have been involved in significant solar energy initiatives that align with global sustainability trends.

Key Milestones:

  • Real Estate: Blackstone has significant investments in India’s real estate sector. In 2013, the firm, in partnership with Panchshil Realty, acquired Mumbai’s iconic Express Towers for approximately ₹900 crore. 
  • Private Equity: The firm has invested in a diverse portfolio of companies, supporting sectors like IT services, manufacturing, and consumer goods. These investments have provided capital and strategic guidance to Indian enterprises aiming for global competitiveness.
  • Infrastructure: Blackstone recognizes India’s burgeoning infrastructure needs and has ventured into data centers, renewable energy, and logistics sectors. For instance, the firm has shown interest in developing data centers to support India’s digital economy and renewable energy projects that align with global sustainability goals.

Future Aspirations

Blackstone’s commitment to India is poised for further growth. The firm aims to expand its asset base to $100 billion, reflecting its robust confidence in the country’s economic trajectory. This ambitious target encompasses scaling existing investments and exploring new opportunities in emerging sectors.

Strategic Focus Areas:

  • Credit and Infrastructure: Blackstone plans to bolster its credit and infrastructure businesses in India. This includes providing financing solutions to Indian companies and investing in critical infrastructure projects that are pivotal for the nation’s growth.
  • Technology and Healthcare: The firm is keen on tapping into India’s burgeoning technology sector, particularly startups and tech-enabled services. Additionally, investments in healthcare are on the radar, aiming to enhance medical infrastructure and services across the country.

Implications for India’s Economy

Blackstone’s intensified investment strategy holds several positive implications for India:

  • Foreign Direct Investment (FDI): Substantial investments from global entities like Blackstone enhance India’s FDI inflows, fostering economic growth and job creation.
  • Employment Generation: Large-scale investments create jobs across sectors, from construction in real estate projects to skilled positions in tech ventures.
  • Infrastructure Development: Capital infusion into infrastructure accelerates the development of essential facilities, boosting economic efficiency and connectivity.
  • Global Competitiveness: Blackstone enhances its ability to compete globally by supporting Indian companies in fostering innovation and best practices.
     

The Tariff Landscape and Investment Decisions

Trade policies and tariffs are critical factors influencing foreign investment decisions. Recent global developments, such as the U.S. administration’s tariffs on steel and aluminum imports, have raised concerns about potential trade wars and their ripple effects on emerging markets like India. 

Potential Impacts on Blackstone’s Strategy:

  • Currency Fluctuations: Trade tensions can lead to currency volatility. The Indian rupee, for instance, is projected to weaken further against the U.S. dollar due to escalating trade disputes and domestic economic factors.
    A depreciating rupee can affect the returns on foreign investments when repatriated.
  • Market Sentiment: Persistent tariff concerns have led to fluctuations in Indian stock markets. For example, benchmarks like the Nifty 50 and BSE Sensex experienced declines amid such apprehensions. Negative market sentiment can influence investment timing and valuations.reuters.com
  • Operational Costs: Tariffs on imported goods can increase costs for sectors reliant on foreign materials, potentially impacting the profitability of investments in those industries.

Blackstone’s Perspective:

Despite these challenges, Blackstone maintains a positive outlook on India. Schwarzman has expressed support for specific tariff measures, believing they could bolster domestic manufacturing and, by extension, benefit the global economy. This perspective suggests that while tariffs are a consideration, they do not deter Blackstone’s investment plans in India.reuters.com.

Conclusion

Blackstone’s unwavering commitment and strategic investments underscore India’s prominence as a pivotal market in the global investment landscape. The firm’s expansive plans reflect confidence in India’s economic fundamentals and promise substantial contributions to the nation’s development. 

While global trade dynamics and tariffs present challenges, Blackstone’s adaptive strategies and long-term vision position it to effectively navigate these complexities, ensuring sustained growth and mutual benefit.

In a move that marks one of the biggest private equity (PE) transactions in India’s food and snacks industry, Singapore government’s private equity arm Temasek has agreed to buy a 10% stake in Haldiram Snacks Food Pvt. Ltd. — the parent company of India’s iconic snacks brand Haldiram’s. The deal, worth ₹8,500 crore, puts the total value of Haldiram’s business at a staggering ₹85,000 crore (about $10 billion), according to people familiar with the matter.

Source: Mint 

The agreement with Temasek is more than just a financial transaction; it’s a significant development that reflects the growing global interest in India’s booming consumer market, especially the packaged foods and snacks sector where Haldiram’s is a dominant player.

A Long Wait, But a Big Win

This investment comes after over a year of intense discussions between Haldiram’s and several potential investors. According to people aware of the deal, the family behind Haldiram’s may also sell an additional 5% stake to other suitors like Blackstone or Alphawave Global. These talks are reportedly happening at similar terms to Temasek’s offer, but nothing has been finalized yet. 

The agreement with Temasek has been signed, and talks are ongoing with Blackstone and Alphawave. If successful, these additional stake sales could further consolidate Haldiram’s position as one of India’s most valuable and sought-after consumer brands.

Source: Mint 

Market size of savory snacks in India

Before we get into more details of the deal, let’s take a quick look at India’s savory snacks market — a space that’s growing fast. In FY22, the market was valued at over ₹750 billion, and it’s expected to cross ₹1 trillion by 2026. What’s more, western-style snacks hold the biggest share in the organized savory snacks segment in India.

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Source: Statista

A Rare $10 Billion Valuation in the Indian Snack Market

To understand the size of this deal, a $10 billion value for an Indian snack brand is unheard of. It shows how big Haldiram’s has become and how much potential global investors see in India’s growing packaged food market.

For Temasek, writing a cheque of this size signals deep confidence in both Haldiram’s brand power and India’s consumer story. It is also an indication of how attractive India’s homegrown businesses have become for global private equity players looking for growth opportunities in emerging markets.

Interestingly, Haldiram’s controls over 40% of India’s snacks and savory market, making it a leader by a huge margin. Its annual revenue stands around ₹14,000 crore, and its EBITDA (earnings before interest, taxes, depreciation, and amortization) margins are reportedly between 20-21% for FY24 — a sign of strong profitability in a competitive industry.

Source: Mint 

A Family Business Comes Together

This major stake sale comes on the heels of a crucial family business reorganization. Last year, the two major branches of the Haldiram family — the Delhi and Nagpur groups — merged their businesses to create a unified entity: Haldiram Snacks Food Pvt. Ltd. (HSFPL).

Before this merger, the Delhi unit, Haldiram Snacks Pvt. Ltd. (HSPL), and the Nagpur unit, Haldiram Foods International Pvt. Ltd. (HFIPL), operated somewhat independently, often leading to confusion and internal competition.

Under the new arrangement, HSPL shareholders now hold 56% in the new company, while HFIPL shareholders own 44%.

The Delhi business was mainly led by Manohar Agarwal and Madhu Sudan Agarwal, while the Nagpur business was run by Kamalkumar Shivkisan Agrawal, a grandson of the founder Ganga Bhishen Agarwal, who first started Haldiram’s as a small sweet shop in Bikaner in 1937.

This consolidation streamlined operations and opened doors for major investors such as Temasek.

Source: Mint 

From a Small Sweet Shop to a Global Brand

What started as a modest sweet shop almost nine decades ago has transformed into a global snack empire. Today, Haldiram’s boasts a portfolio of over 400 products, ranging from namkeens, sweets, and ready-to-eat meals to frozen foods, biscuits, beverages, and pasta.

The brand’s reach extends far beyond Indian shores. Haldiram’s exports to more than 100 countries, including major markets like the United States and Europe.

Despite the increasing competition from global giants like PepsiCo and Indian brands like Balaji Wafers, Bikanervala, ITC, Parle Products, and Prataap Snacks, Haldiram’s continues to dominate thanks to its deep market penetration, strong distribution network, and unmatched brand loyalty.

An Eye on the Stock Market

Interestingly, there are also plans to take Haldiram’s public within the next 24 to 36 months, according to people close to the development. This potential IPO would not only provide an exit route for private equity investors like Temasek but could also turn Haldiram’s into one of India’s most valuable publicly traded consumer companies.

Though nothing official has been announced yet, a listing of this magnitude would mark a significant moment for Indian family-run businesses entering global capital markets.

Why Everyone Wants a Bite of Haldiram’s

Investors’ growing interest in Haldiram’s is easy to understand when one looks at the numbers and the broader market trends:

  1. Strong Market Position: Controlling over 40% market share in India’s organized savory snacks market is no small feat. This leadership provides a strong base for further growth.
  2. Steady Revenue and Profitability: With ₹14,000 crore in revenue and 20-21% EBITDA margins, Haldiram’s is not just big, but also highly profitable — a rare combination in India’s snacks industry.
  3. Consistent Growth: The company has been growing at a compounded annual growth rate (CAGR) of 16-17%, demonstrating its ability to scale up consistently.
  4. Strong Brand Recall: In India, Haldiram’s is almost a household name. Whether it’s packaged snacks on supermarket shelves or quick bites at Haldiram’s outlets, the brand connects deeply with consumers.
  5. Global Potential: As Indian cuisine gains popularity worldwide, brands like Haldiram’s are well-positioned to ride this wave in international markets.

A Sign of Maturing Indian Consumer Market

Deals like this highlight how India’s consumer market is maturing and gaining popularity among global investors. The growing middle class, increasing urbanization, and a shift toward branded packaged food are trends that are here to stay.

It’s not just about snacks. India’s food and beverages sector is set to see major transformations in the coming years, with global funds lining up to back strong, homegrown brands.

The Road Ahead for Haldiram’s

While Temasek’s entry brings in capital and global expertise, the company still faces challenges ahead.

  • Keeping up with changing consumer tastes, especially with the health and wellness trend picking up pace.
  • Managing competition from both established brands and emerging players.
  • Navigating regulatory hurdles and supply chain complexities, especially when expanding internationally.
  • And, of course, successfully executing a public listing when the time comes.

Final Word

Temasek’s high-profile investment in Haldiram’s is not just about snacks — it’s a story of a homegrown brand that has stood the test of time, evolving from a small sweet shop to a ₹85,000 crore giant.

As the deal unfolds and possibly opens doors to other investors, Haldiram’s journey could become a defining chapter in India’s consumer brand success stories — a reflection of how traditional family businesses can adapt, modernize, and scale with the right partnerships.

If the IPO comes through in the next few years, Haldiram’s may very well become a brand that not only fills snack shelves across the world but also captures the imagination of investors on Dalal Street.

FAQ

  1. Why did Temasek invest in Haldiram’s?

    Temasek sees Haldiram’s strong market position and growth potential in India’s booming packaged food sector, aiming to capitalize on its global expansion.

  2. How much did Temasek invest, and what stake did they acquire?

    Temasek invested ₹8,500 crore, acquiring approximately a 10% stake in Haldiram’s, signaling a significant vote of confidence in the company.

  3. What impact will this investment have on Haldiram’s?

    The investment will fuel Haldiram’s expansion plans, enhance its infrastructure, and support its ambitions to strengthen its global footprint.

  4. How does this deal affect Haldiram’s existing market position?

    The investment reinforces Haldiram’s market leadership, providing financial backing and strategic support to further solidify its dominance and accelerate growth.

India’s digital landscape is on the verge of a major shift. Elon Musk’s Starlink, the ambitious satellite-based internet service by SpaceX, is gearing up to make its mark in the Indian market. Its arrival has set off a race among telecom giants, policymakers, and industry leaders, all eager to stake their claim in this next-gen connectivity revolution. But what does this mean for India’s internet future? Let’s break it down.

Starlink’s Foray into India: A New Frontier

Starlink, a satellite-based internet service by SpaceX, is designed to provide global high-speed internet coverage through a network of low Earth orbit (LEO) satellites. Starlink’s technology enables direct internet access from space, unlike traditional broadband services that rely on fiber-optic cables or cellular towers. This eliminates the dependency on extensive ground infrastructure, making it an ideal solution for countries like India, where network accessibility remains challenging in many regions.

India has one of the world’s most significant internet users, but over 40% of its population still lacks reliable connectivity, particularly in rural and remote areas. According to recent reports, rural internet penetration in India remains significantly lower than in urban areas due to infrastructural limitations, high deployment costs, and challenging terrains. Traditional broadband infrastructure has failed to reach many villages in states with difficult topographies, such as Ladakh, Arunachal Pradesh, and parts of Uttarakhand.

Bridging the Connectivity Gap

Starlink’s LEO satellite technology offers a potential solution by providing uninterrupted, high-speed internet coverage regardless of terrain. Unlike geostationary satellites, which orbit 35,786 km above Earth, Starlink satellites operate at a much lower altitude of around 550 km. This reduces latency (the delay in data transmission) and improves internet speed, making it suitable even for bandwidth-heavy applications such as video streaming, gaming, and telemedicine.

If successfully launched in India, Starlink could bring connectivity to over 700,000 unconnected villages, boosting digital inclusion, e-governance, remote education, and online healthcare services. Moreover, it could enhance internet reliability during natural disasters, as satellite-based services are less vulnerable to infrastructure damage than traditional fiber-optic networks.
Source: The Hindu

Telecom Titans Aligning with Starlink

Recognizing the potential of satellite internet, major Indian telecom companies have strategically moved to collaborate with Starlink rather than compete against it. This shift is significant, as India’s telecom sector has historically relied on fiber-optic and cellular networks for internet expansion. However, any collaboration is subject to SpaceX receiving its authorization to sell Starlink in India.

  • Bharti Airtel: On March 11, 2025, Bharti Airtel, India’s second-largest telecom provider, announced a partnership with SpaceX to explore bringing Starlink services to India. Airtel, which already has a presence in the satellite broadband market through its stake in OneWeb, sees this collaboration as a way to enhance connectivity in remote and mountainous regions.
Source: NSE

Airtel’s strengths lie in its deep regulatory expertise, customer base, and existing network infrastructure, which could be crucial in facilitating Starlink’s rollout. The company is expected to integrate Starlink’s satellite technology with its terrestrial infrastructure, improving service reliability in areas where fiber-optic expansion is not viable.

With India prioritizing rural broadband expansion, Airtel’s partnership with Starlink could significantly contribute to government initiatives like Digital India and BharatNet, which aim to provide broadband access to villages and underserved regions.

  • Reliance Jio: Not to be outdone, Reliance Jio, the country’s largest telecom operator, revealed its agreement with SpaceX on March 12, 2025. Unlike Airtel, which has a stake in OneWeb, Jio has no prior satellite broadband investments, making this collaboration a strategic move to enter the space-based internet market.

Jio’s approach differs from Airtel’s in that it plans to leverage its extensive retail network to distribute Starlink equipment, simplifying purchasing, setting up, and activating satellite internet services across India. Jio’s dominance in the 4G and fiber broadband market, with over 450 million subscribers, gives it a significant edge in reaching a broader consumer base.

Source: NSE

Additionally, Jio’s partnership could help bring down the cost of Starlink’s user terminals, making the service more affordable for middle-class and rural consumers. Given Jio’s history of disrupting the Indian telecom industry with aggressive pricing, its involvement in satellite broadband could push competition further, benefiting consumers with cheaper internet plans and better service coverage. Source: LiveMint

Government Policies Shaping the Satellite Internet Landscape

The Indian government’s stance on spectrum allocation has been pivotal in shaping the satellite internet sector:

  • Spectrum Allocation: In January 2025, India decided to allocate satellite spectrum without auction, aligning with global practices. This move lowers entry barriers for foreign companies like Starlink, fostering a more competitive environment.
  • Licensing and Approvals: While partnerships are forming, Starlink still awaits operating licenses to commence services in India. The government’s approach to these approvals will significantly influence the timeline and success of satellite internet deployment.

Implications for Internet Users in India

The advent of satellite-based internet services like Starlink brings several potential benefits and challenges for Indian consumers:

  • Enhanced Connectivity: For residents in remote or underserved areas, satellite internet can provide reliable access where traditional networks are absent or unreliable.
  • Competitive Pricing: The entry of new players could lead to more competitive pricing and improved service quality across the board.
  • Technological Adoption: Users may need to invest in specific equipment to access satellite services, which could be a consideration for widespread adoption. Source: Economic Times

Navigating the Future: Opportunities and Considerations

As Starlink and its partners navigate the regulatory and operational landscape, several factors will influence the future of internet connectivity in India:

  • Regulatory Compliance: Securing the necessary licenses and adhering to local regulations will be crucial for a smooth rollout of services.
  • Infrastructure Development: Collaborations with local telecom providers can facilitate the establishment of ground infrastructure, ensuring seamless integration with existing networks.
  • Consumer Awareness: Educating potential users about the benefits and requirements of satellite internet will be essential for adoption, especially in rural areas.

In conclusion, 

Starlink’s entry into India, backed by partnerships with telecom giants like Bharti Airtel and Reliance Jio, marks a significant milestone in the country’s digital journey. As government policies evolve to accommodate new technologies, the landscape of internet connectivity in India is poised for a transformative shift, promising broader access and enhanced services for millions.

In a significant escalation of trade tensions, India has imposed steep tariffs on American products, specifically 150% on alcoholic beverages and 100% on certain agricultural goods. This move has drawn sharp criticism from the White House, highlighting the growing complexities in international trade relations.

Understanding India’s Tariff Decision

The government imposes tariffs on imported goods, making them more expensive and less competitive than domestic products. India’s decision to levy such high tariffs on American alcohol and agricultural products serves multiple purposes:

  1. Protecting Domestic Industries: By making imported goods more expensive, tariffs can encourage consumers to buy domestically produced alternatives, thereby supporting local industries and farmers.
  2. Revenue Generation: Tariffs contribute to government revenue, which can be utilized for various developmental projects.
  3. Strategic Retaliation: Such measures can respond to trade policies perceived as unfair, aiming to pressure the exporting country into negotiations or concessions. 

Implications for India-US Trade Relations

The imposition of these tariffs is likely to strain the already delicate trade relations between India and the United States:

  • Trade Negotiations: Ongoing discussions may face setbacks, with both nations adopting more rigid stances. The U.S. might view these tariffs as protectionist, hindering progress toward mutually beneficial agreements.
  • Market Access: American exporters, particularly those in the alcohol and agriculture sectors, may find the Indian market less accessible, leading to potential revenue losses and reevaluation of market strategies.
  • Diplomatic Relations: Beyond economics, such trade measures can influence diplomatic ties, affecting collaborations in defense, technology, and education.

Impact on Financial Markets

The introduction of such substantial tariffs can lead to heightened volatility in financial markets:

  • Equity Markets: Companies heavily reliant on international trade, particularly those in the alcohol and agriculture sectors, may experience stock price declines due to anticipated revenue losses. Investors might shift their portfolios towards more domestically focused or non-cyclical industries to mitigate risk.
  • Commodity Prices: Agricultural commodities affected by tariffs could see price fluctuations. Reduced U.S. exports may lead to an oversupply domestically, driving prices down, while importing countries might face shortages, pushing prices up.
  • Currency Movements: Trade tensions can influence currency valuations. Countries imposing tariffs may appreciate their currencies due to reduced import demand, while exporting nations could experience depreciation pressures.
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(Figures in billion USD, Source: U.S. Department of Agriculture, Statista, Reuters reports on trade tariffs) Estimated based on tariff trends and trade volume impact)

Global Perspective: Other Nations’ Tariff Measures

India’s actions are part of a broader pattern of retaliatory trade measures worldwide:

  • Canada: In response to U.S. tariffs on steel and aluminum, Canada imposed a 25% surcharge on electricity exports to U.S. states like Michigan, Minnesota, and New York. This measure affects approximately 1.5 million U.S. households and businesses, generating an estimated $278,000 daily. Canadian officials have also considered further actions, including export restrictions on critical minerals and energy products.  Business Insider
  • European Union (EU): The EU announced counter-tariffs on $28 billion worth of U.S. goods following U.S. tariffs on steel and aluminum imports. This move targets various American products, pressuring the U.S. administration to reconsider its trade policies. reuters.com
  • China: China has imposed additional tariffs of 10-15% on U.S. agricultural products, including soybeans, corn, dairy, and beef. This has directly impacted U.S. farmers and escalated the trade war between the two largest economies.

Consequences of These Tariffs

The ripple effects of these tariffs are multifaceted:

  • Supply Chain Disruptions: Global supply chains may need restructuring as companies seek alternative markets or suppliers to circumvent tariffs. This realignment can lead to inefficiencies and increased operational costs.
  • Inflationary Pressures: Increased tariffs can raise the cost of imported goods, contributing to inflation in importing countries. Consumers may face higher prices, reducing their purchasing power and potentially slowing economic growth.
  • Diplomatic Strains: Escalating trade tensions can strain diplomatic relations, making cooperation on other global issues more challenging. Prolonged disputes may lead to new trade alliances, altering the geopolitical landscape.  

The imposition of tariffs, such as India’s recent measures on American products, underscores the fragility of global trade relations. While intended to protect domestic industries, these actions often lead to broader economic disruptions, affecting financial markets, supply chains, and international diplomacy. 

As countries continue to navigate these challenges, the importance of constructive dialogue and negotiation cannot be overstated to ensure global economic stability.

Frequently asked questions

Get answers to the most pertinent questions on your mind now.

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What is an Investment Advisory Firm?

An investment advisory firm is a company that helps investors make decisions about buying and selling securities (like stocks) in exchange for a fee. They can advise clients directly or provide advisory reports and other publications about specific securities, such as high growth stock recommendations. Some firms use both methods, like Research & Ranking, India’s leading stock advisory company, specializing in smart investments and long-term stocks since 2015.

An investment advisory firm is a company that helps investors make decisions about buying and selling securities (like stocks) in exchange for a fee. They can advise clients directly or provide advisory reports and other publications about specific securities, such as high growth stock recommendations. Some firms use both methods, like Research & Ranking, India’s leading stock advisory company, specializing in smart investments and long-term stocks since 2015.

An investment advisory firm is a company that helps investors make decisions about buying and selling securities (like stocks) in exchange for a fee. They can advise clients directly or provide advisory reports and other publications about specific securities, such as high growth stock recommendations. Some firms use both methods, like Research & Ranking, India’s leading stock advisory company, specializing in smart investments and long-term stocks since 2015.

An investment advisory firm is a company that helps investors make decisions about buying and selling securities (like stocks) in exchange for a fee. They can advise clients directly or provide advisory reports and other publications about specific securities, such as high growth stock recommendations. Some firms use both methods, like Research & Ranking, India’s leading stock advisory company, specializing in smart investments and long-term stocks since 2015.