🎩 Best of the Week: From renewed Chinese ties to GST rebootGST overhaul, Jio's IPO, and much more in today's edition of Best of the Week.
Dear reader, Have you ever found yourself trapped on an app? I have. Whether it is quick commerce or social media, I have spent far more time than I intended doomscrolling. What should take five minutes, like ordering groceries, often stretches into half an hour. But this is not just about losing time or money, it is about the design. Social media perfected “time-loss” loops, such as YouTube autoplay, TikTok’s infinite scroll, and Instagram’s in-feed replies. Quick-commerce apps now nudge us the same way, removing natural pauses. Learning apps, fitness trackers, and even AI tools do it too, chasing streaks, checking friends’ activity, and exploring “next steps”. What begins as convenience quietly becomes manipulation. Shephali Bhatt unpacks the phenomenon of doomscrolling, showing how subtle design choices in apps keep us hooked, often without us even realizing it. Also read:On to the best of Mint’s journalism from this week:Modi uses SCO stage to counter US pressure and reset tiesAt the Shanghai Cooperation Organization (SCO) summit in Tianjin, India signalled a subtle foreign policy reset. Prime Minister Narendra Modi rekindled ties with China after seven years, embraced Vladimir Putin to reaffirm a “special” partnership, and pitched India’s startups to regional leaders. The summit’s declaration slammed US tariffs as unlawful, echoing India’s frustration with Washington’s trade squeeze. In a rare win, Pakistan joined others in condemning the Pahalgam terror attack, bolstering India’s stance. For New Delhi, the SCO was more than diplomacy; it was a stage to counter tariff pressures and showcase India as a rising, balancing power in Asia. GST overhaul slashes taxes, sparks state concernsThe GST Council unveiled its boldest reform yet, slashing taxes on daily essentials and aspirational buys, from toothpaste and paneer to TVs, cars, and hotel stays, in a move aimed at powering festive consumption. Effective 22 September, the revamp simplifies slabs and makes life and health insurance GST-free. Finance minister Nirmala Sitharaman called it a reform “with the common man in mind”. But while consumers cheer, opposition-ruled states worry about revenue losses that could top $11 billion. With the compensation cess expiring, tensions over who bears the shortfall threaten to linger, even as New Delhi banks on a consumption-led cushion against global tariff shocks. GST 2.0 cuts taxes, tests government’s fiscal resolveThe long-awaited GST revamp is here, slashing rates on mass-consumption goods while trimming slabs from four to two. The move is expected to lift household spending and spark festive demand, but it comes at the cost of an estimated ₹48,000 crore annual revenue loss. With both direct and indirect taxes already trailing targets, the strain on the exchequer is real. The government hopes buoyant consumption, better compliance, and Reserve Bank of India dividends will plug the gap. If not, trimming capex or non-essential spending may be the only way to keep the fiscal deficit target intact. Automakers turn to influencers to power EV adoptionWith EV sales lagging targets, automakers are betting on influencers to do what ads haven’t: convince buyers that electric is practical, affordable, and here to stay. From Tata to MG, carmakers are roping in creators to bust myths, test EVs in real-world conditions, and connect with audiences in local languages. The strategy is working: EV-related content now makes up 62% of auto posts and drives higher engagement than petrol or diesel. For consumers, influencer storytelling is replacing spec sheets as the trusted guide in making purchase decisions. India rethinks what counts as ‘Chinese’ investmentIndia is weighing whether companies with only tiny Chinese shareholdings should really be treated as “Chinese firms”, as it looks to relax covid-era curbs on foreign direct investment. The move comes as New Delhi scrambles to counter US tariffs of up to 50% on Indian exports by wooing new capital inflows. Officials are considering a threshold below which investments won’t face added scrutiny, easing rules for sectors like manufacturing and auto components while keeping strategic areas off-limits. The shift reflects a pragmatic bid: balancing geopolitical concerns with the urgent need to boost growth, jobs, and competitiveness. High growth, low cushion—the nominal GDP dilemmaIndia’s economy clocked an impressive 7.8% real GDP growth last quarter—but nominal growth, the number that actually guides the government’s Budget math, slowed to just 8.8%, barely above real growth. Why does this matter? Because lower inflation means the “feel-good” real number looks strong, but the money value of output—the one tied to taxes, deficits, and spending—is under pressure. Economists fear FY26 nominal growth could slip to 7.5-8%, forcing spending cuts and squeezing fiscal space just when US tariffs are set to bite. Reliance’s Jio eyes $125 billion valuationGet ready—Jio Platforms is gearing up for what could be India’s biggest-ever IPO by a private company. The Reliance arm is expected to kick off banker pitches this month for an $8-10 billion listing, eyeing a valuation of $120-125 billion. More than a dozen global and domestic banks are in the fray, with Morgan Stanley tipped as the frontrunner. If all goes to plan, Jio could hit the market by H12026. The IPO will not only test investor appetite for a pure-play telecom giant but also give global backers like Meta and Google an exit. Prime Video’s ad gambleImagine paying for years to escape TV ads—only to have them sneak back in. That’s what Amazon Prime Video just did, and subscribers in India aren’t thrilled. Starting June, movies and shows now come with ads, unless you shell out extra—₹699 a year for ad-free streaming. Understandably, many feel shortchanged: why pay more to keep what you already had? Amazon argues it’s about “choice”, but with rivals like JioHotstar racing ahead, is this really a smart play—or a desperate one? From cheese omelettes to ₹10 trillionIf you think the ‘cheese pizza omelette’ craze at Delhi’s Dwarka carts is just about indulgence, think again—it’s also a mirror to India’s booming healthcare story. As our diets get richer and lifestyles more sedentary, hospitals—not just street food stalls—are seeing lines get longer. No wonder the healthcare market, already worth ₹10.7 trillion, is buzzing, with hospital stocks like Apollo, Max, Medanta, and Narayana now darling picks on Dalal Street. But, are we investing in wellness or in our own future ailments? With lifestyle diseases on the rise and India still short on hospital beds, this sector might just be the ultimate consumption story. Bharat Forge bets on dark factoriesWalk into Bharat Forge’s Pune HQ and you’ll see less hammer-and-anvil, more AI dashboards and digital twins. Chairman Baba Kalyani is betting big on a “dark factory”—plants that run without people—within three years. Sounds sci-fi, right? But this isn’t just about cool tech. With EVs eating into its core auto parts business, Bharat Forge must reinvent itself as a defence-tech powerhouse. From AI-patrolling robots like Snowy to artillery systems bristling with sensors, the company is forging a new identity—literally. The gamble? Defence orders take years, while US tariffs are already hurting profits. Best, Siddharth Sharma
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शनिवार, 6 सितंबर 2025
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