Business
Sitharaman engages investors in Silicon Valley

The Confederation of Indian Industry (CII) and the US Chamber of Commerce’s US-India Business Council (USIBC), co-hosted an exclusive roundtable for business leaders and investors with Finance Minister Nirmala Sitharaman in Palo Alto.
The roundtable was attended by senior executives, private sector business leaders, venture capitalists, institutional investors, and representatives of pension and endowment funds, representing combined assets under management of over $1 trillion.
Moderated by Atul Keshap, President, USIBC, this executive gathering was also joined by V. Ananth Nageswaran, Chief Economic Advisor, Taranjit Singh Sandhu, Ambassador of India to the US, among others.
The roundtable highlighted India’s emergence from the pandemic as one of the world’s fastest growing major economies and outlined the Centre’s efforts to support growth by a process of sustained reforms across sectors, increased capital expenditure especially in infrastructure, and measures to boost FDI.
“With a growth forecast of almost 8 per cent in FY 2023, India is likely to remain the world’s fastest growing major economy over the next few years, driven by the continued expansion of its technology and start-up ecosystems,” Sitharaman said.
“In this context, US-India collaboration in financial services and emerging technologies will support increased investment and innovation, and fintech represents a unique opportunity for sustainable and inclusive growth.”
She invited leading investors present in the room to become part of the India growth story.
Sandhu remarked: “There is a fintech revolution happening in India. As a country that runs the largest financial inclusion programme in the world, to the country that has highest fintech adoption rate globally to the highest number of real time online transactions globally, India has a lot to offer to the world. The financial sector in India has recently seen PM guided and FM led reforms.
“We hope that the US venture capitalists, endowment funds and asset management companies look at India to start their new journey or scale up existing operations and partner and grow.”
National
Amit Shah to visit J&K for three days from April 6, hold security review meets

Jammu, April 4: Union Home Minister Amit Shah will be on a three-day visit to Jammu and Kashmir from April 6 to hold security review meetings and inaugurate development projects.
The Home Minister will chair two important security review meetings and will also virtually inaugurate some developmental projects.
HM Shah, as per sources, will hold a meeting with the BJP MLAs in Jammu on April 6. He will take feedback from the BJP MLAs, especially about the budget session of the Legislative Assembly, which will resume on April 7 after a 12-day break. The session is scheduled to adjourn sine die on April 9.
The performance of the BJP MLAs in the Assembly during the first budget session of the present government will come up for review during the meeting.
He will review the political situation in the union territory with the party MLAs. Shah will be in Jammu till the afternoon of April 7 and then proceed to Srinagar. He will return to Delhi on April 8. Minister of State (PMO) Dr Jitendra Singh will join the home minister in Jammu.
Amit Shah is scheduled to undertake a tour of the International Border in Jammu. He will meet the family members of police martyrs.
Two terrorists were killed, and four police personnel were martyred in the Kathua encounter last week.
In Srinagar, the home minister will chair two separate security review meetings of Unified Headquarters and the annual pilgrimage of Shri Amarnath Yatra.
He will be dedicating a number of multi-crore projects to the people of the UT through virtual inauguration and a foundation stone laying ceremony.
During Shah’s Unified Headquarters meeting, a strategy for ensuring zero infiltration and the elimination of terrorists from the mountains and forests of the Jammu region besides the Kashmir Valley will be reviewed, sources said.
Union Home Secretary Govind Mohan, MHA officials dealing with Jammu and Kashmir, heads of Intelligence agencies and paramilitary forces will also join Amit Shah in security review meetings.
The second security review meeting will be held exclusively for security and other arrangements for the annual Shri Amarnath Yatra, scheduled to start on July 3 and end on August 9.
The Home Minister will also inaugurate and lay the foundation stone of multi-crore projects virtually from Srinagar.
Chief Minister Omar Abdullah will also be joining the function for the dedication of developmental projects by HM Shah.
The CM is likely to have a separate meeting with the Home Minister.
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.
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