Business
CAIT urge government to take action against e-pharmacy companies, including Amazon, Flipkart, Reliance

Training its guns on e-pharmacy companies, Confederation of All India Traders (CAIT) on Monday strongly raised the issue of malpractices being conducted in online pharmacy trade.
CAIT alleged that primarily Pharmeasy, Medlife, 1Mg, Netmeds (now owned by Reliance Group), Amazon (foreign company owned by Amazon) Flipkart (owned by foreign company Walmart) are conducting business practices in contravention of provisions of The Drug & Cosmetics Act, 1940 and misusing the e-commerce landscape by operating on rock bottom prices with 30 per cent-40 per cent discount and free shipping.
It’s a case of capital dumping in these e-pharmacies by foreign behemoths which is proving extremely detrimental to the future of the lakhs of crores of small chemists across the country . The retail chemists are the last mile connectivity and emergency provisioning is ensured by brick-and-mortar retailers who in turn also provide livelihood to millions of retail pharmacies, their families and employees
The CAIT has once again reiterated while its demand for issuance of a fresh press note in lieu of Press Note 2 of the FDI policy to make Indian e-commerce trade free from all glitches and a competitive level playing field for all stakeholders and formation of a Regulatory Authority to monitor and regulate e commerce business in India.
CAIT National President B.C. Bhartia and Secretary General Praveen Khandelwal said that mushrooming of e-pharmacy is causing huge hardships to the retail chemists and distributors in the wake of anti-competitive practices like capital dumping and deep discounting leading to predatory pricing. Brick and Mortar medicine retailers, including retail chemists and distributors are the first points of contact for needy patients across the country. E-pharmacies with their financial backing by large foreign players/funds have started disrupting brick and mortar retailers due to the unmatched and often unsustainable pricing.
They further said that It is important to note that sale of prescription drugs and medicines through online medium is illegal. The legal regime, under Drugs & Cosmetics Act, 1940, does not permit home delivery of prescription medicines for which a prescription “in original” is required.
Bhartia and Khandelwal said that the e-pharmacies like Pharmeasy and Medlife indulged in deep discounting on their platforms by giving a flat discount of 30 per cent. To capture the market even further, an additional cashback of 20 per cent is extended to customers with free shipping. Effectively, this translated to a whopping discount of around 40 per cent-45 per cent with free shipping.
Predatory Pricing is done with the sole intention of eliminating the market competition. E-pharmacies have indulged in predatory pricing immediately after the lockdown by offering a 25 per cent discount on medicines and an astronomical 75 per cent discount on wellness products, a market that had begun expanding after the recent Covid-19 pandemic. While even a 25 per cent discount on medicines is capable of distorting the market, a 75 per cent discount on a market that had just begun to swell up is daylight robbery since it not only erodes the customer base of traditional retailers but also creates an unhealthy competition, one that is unsustainable in the long run.
Bhartia and Khandelwal said that by using consumer data, which is otherwise not available to traditional players, e-pharmacies like Pharmeasy & Medlife (owned by Dharmil Seth and investment from Temasek, etc.) and 1Mg (Prashant Tandon, investment from Sequoia and now slated to merge in Tata Group) Netmed of Reliance, Amazon and Flipkart have offered a minimum discount of 30 per cent at the start of the month and approximately 40 per cent discount at the end of the month to cater to the analysis and resultant trend that spending reduces end of the month.
The CAIT has demanded that beside general e-commerce where rules and policies are being flouted at a high magnitude level, the e-pharmacy has become another trade which is being targeted by these heavily funded companies to capture and monopolised at the cost of uprooting of lakhs of chemists and medicine traders across the country. Therefore, immediate intervention of the government is required to stop this menace.
Business
Stock market ends lower as investors take cautious approach on US tariffs

Mumbai, April 3: The Indian stock market closed lower on Thursday as investors remained cautious following US President Donald Trump’s announcement of new tariffs.
The new tariff structure includes a 10 per cent tax on all US imports, with higher tariffs on countries with a trade surplus. India will now face a 27 per cent tariff.
The Sensex fell 322.08 points, or 0.42 per cent, to close at 76,295.36. During the day, the index fluctuated between an intraday high of 76,493.74 and a low of 75,807.55.
The Nifty also ended lower, down 82.25 points, or 0.35 per cent, at 23,250.10.
“The primary catalyst for today’s decline was deteriorating global sentiment, exacerbated by US President Trump’s announcement of a 26 per cent reciprocal tariff on Indian imports, which prompted a cautious stance among investors,” said Sundar Kewat of Ashika Institutional Equity.
Tech stocks led the losses, with TCS, HCL Tech, Tech Mahindra, Infosys, and Tata Motors declining by up to 4.02 per cent.
On the other hand, Power Grid Corporation, Sun Pharma, Ultratech Cement, NTPC, and Asian Paints were among the top gainers, rising as much as 4.57 per cent.
The IT sector was the worst performer, with the Nifty IT index dropping 4.21 per cent, dragged down by Persistent Systems, Coforge, TCS, and Mphasis. Auto, oil & gas, and realty stocks also struggled.
However, pharma stocks performed well, with the Nifty Pharma index climbing 2.25 per cent. Banking, healthcare, FMCG, and consumer durables stocks also saw gains, rising up to 1.94 per cent.
Despite the overall market decline, smallcap stocks outperformed, as the Nifty Smallcap100 index gained 0.58 per cent.
Market analysts stated that investors are expected to remain watchful of global developments and their impact on market trends.
“The domestic market initially showed signs of recovery but ended with modest losses after the announcement of a relatively lower 26 per cent tariff on US imports,” said Vinod Nair of Geojit Investments Limited.
“Although the tariff presents short-term challenges, India’s economic resilience and bilateral trade agreement may help mitigate the overall impact,” he stated.
The rupee ended flat but traded in a volatile range between 85.75 and 85.35, as markets reacted to Trump’s reciprocal tariff policy.
Business
India’s GDP growth projected at 6.7 pc for FY26, cyclical recovery expected

New Delhi, April 3: India’s economy is set to grow at 6.7 per cent in FY26, driven by a cyclical recovery and steady market performance, a new report said on Thursday.
Cyclical recovery refers to the phase in an economic cycle that follows a recession or slowdown, during which economic activity, consumer spending, and business investments start to rise.
Over the past five years, India has witnessed strong earnings growth, with the NIFTY index recording a 20 per cent compound annual growth rate (CAGR), according to a Lighthouse Canton report.
As the economy moves forward, the next phase of growth will depend on key factors such as government capital expenditure, tax benefits for the middle class, and improved consumer demand.
These elements are expected to support earnings recovery and market confidence in 2025, the report said.
India’s investment-led expansion has played a crucial role in economic growth. While the government continues to focus on fiscal discipline, private sector investments are expected to gain momentum, contributing to long-term stability.
The Reserve Bank of India’s recent 25-basis-point rate cut — the first in nearly five years — signals a supportive stance for economic growth.
“India’s economic engine continues to offer long-term promise, however, 2025 will require greater selectivity and discipline,” said Sumegh Bhatia, Managing Director and CEO of Lighthouse Canton in India.
He added that the investors will need to navigate shifting cycles, watch for inflection points in earnings, and remain anchored in fundamentals as the global order undergoes further transformation.
On the global front, market trends and currency movements will influence India’s financial landscape, as per the report.
The strength of the US dollar and rising global trade activity are shaping investment flows, while gold remains a preferred asset due to its resilience amid global uncertainties.
“Additionally, crude oil prices are expected to remain stable, benefiting India’s import-dependent economy,” the report noted.
In 2025, the focus remains on sustainable growth, disciplined market strategies, and long-term investment opportunities, it added.
Business
Institutional investments in Indian real estate up 31 pc at $1.3 billion in Q1

New Delhi, April 3: Institutional investments in India’s real estate sector saw a strong start to 2025, with total inflows reaching $1.3 billion in the first quarter, a new report said on Thursday.
This marks a 31 per cent increase compared to the same period last year, driven largely by domestic investors, according to the report by Colliers India.
Domestic investments played a significant role in this growth, contributing $0.8 billion, which is a 75 per cent rise on a year-on-year (YoY) basis.
These investments were mainly directed toward industrial, warehousing and office spaces. The office segment alone attracted $0.4 billion, making up one-third of the total investments.
Hyderabad emerged as a key market in this segment, drawing more than half of the office-related inflows. The residential sector also witnessed a remarkable rise, with investments almost tripling compared to the first quarter of 2024.
The segment attracted $0.3 billion, accounting for 23 per cent of total investments, a figure comparable to the industrial and warehousing sector.
Interestingly, foreign investors led the residential investment surge, contributing over half of the total inflows in this segment.
The industrial and warehousing sector continued its strong performance from 2024, recording over $0.3 billion in investments during the first quarter of 2025.
This represents a 73 per cent increase YoY, supported by rising investor confidence.
Positive macroeconomic indicators, such as India’s manufacturing purchasing manager’s index (PMI) reaching 58.1 in March 2025 — the highest level since mid-2024 — have reinforced optimism in this sector.
The robust demand, higher production, and improved business confidence have all contributed to this growth, the report said.
Mumbai emerged as the top investment destination, accounting for $0.3 billion, or 22 per cent of the total inflows in Q1 2025.
Bengaluru followed with a 20 per cent share, while Hyderabad secured 18 per cent of the investments, according to the report.
In Mumbai, mixed-use assets attracted over half of the total inflows, whereas Bengaluru saw a majority of investments in the residential sector.
City-wise data show a massive 841 per cent rise in investments in Mumbai, compared to Q1 2024, while Delhi-NCR also experienced significant growth with a 145 per cent increase.
The report also found that Bengaluru saw a steady 26 per cent rise in investments during the same period.
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