According to a document seen by a media house, India’s markets regulator has accused Pranav Adani, the nephew of the billionaire founder and a director of many Adani Group firms, of sharing price-sensitive information and violating laws meant to stop insider trading.
According to a report, the Securities and Exchange Board of India (Sebi) last year sent a notice to Gautam Adani’s nephew Pranav Adani, accusing him of informing his brother-in-law about Adani Green’s 2021 acquisition of SoftBank-backed SB Energy Holdings prior to the deal’s announcement.
Pranav Adani acknowledged that “he has not violated any securities law” and that he was looking to resolve the charges “to put an end to the matter, without admission or denial of the allegations”. A media report further claims that settlement terms were being considered.
Adani Group on the Firing Line
The Adani group’s most recent hurdle is the scrutiny. Gautam Adani and two Adani Green officials were accused by US authorities last year of allegedly deceiving US investors and paying bribes to obtain contracts for Indian power delivery.
The group has referred to the accusations as “baseless” and refuted them. According to the SEBI document, which revealed call logs and trading patterns were examined during the investigation, Pranav Adani broke insider trading regulations in 2021 by providing his brother-in-law Kunal Shah with UPSI (unpublished price sensitive information) about the SB Energy acquisition.
The paper further stated that Kunal Shah and his brother Nrupal Shah made “ill-gotten gains” of 9 million rupees ($108,000) through their trading in Adani Green shares. The Shah brothers claimed in a statement issued by their legal practice that neither malicious intent nor knowledge of any unpublished price-sensitive information was involved in the trades.
According to the statement, the relevant information was already widely accessible and in the public domain.
Adani Group-SB energy Largest Acquisition in Renewable Energy Sector
The largest acquisition in India’s renewable energy industry to date was Adani Green’s purchase of SB Energy on May 17, 2021, for an enterprise value of $3.5 billion.
According to SEBI, Pranav Adani learnt about the upcoming acquisition two to three days before the deal was concluded on May 16, 2021. SEBI had suggested that Kunal and Nrupal Shah also reach a settlement, but the brothers decided to fight the accusations because they felt the conditions were too harsh.
Following the conclusion of SEBI’s ongoing assessment of its settlement process, Pranav Adani’s settlement plea will be considered.
Microsoft has said that it will shut down Skype, its video-calling service, on May 5 of next week. Skype was one of the most popular video-calling platforms in the last two decades when it was launched in 2003.
However, the emergence of WhatsApp and FaceTime for video calling, which increased competition, coincided with the rapid advancements in communication technology. As part of its larger plan to simplify its other communication platforms and concentrate on Microsoft Teams, Microsoft revealed in an official blog post that Skype is being decommissioned.
“We will be retiring Skype in May 2025 to focus on Microsoft Teams (free), our modern communications and collaboration hub, in order to streamline our free consumer communications offerings so we can more easily adapt to customer needs,” the company said.
Existing Users can Migrate to Teams
Since these Skype IDs can be used to log in and effortlessly move contacts and chats on the Teams platform, Microsoft has also confirmed that current Skype users won’t experience any significant problems when switching to Teams.
In order to give people enough time to adjust, the firm first disclosed this decision earlier this year for this and other reasons. The move won’t be too difficult because both systems have comparable functionality, and Microsoft has promised consumers that thorough help would be provided during the transfer process.
Microsoft has announced that Skype Credit and calling plans, among other premium services, will no longer be available to new customers. Nevertheless, paying subscribers can still utilise Teams to access their active subscriptions and credit.
Additionally, Microsoft has made it clear that even when Skype Credit is stopped, any unused services will remain accessible. Via the Skype web portal or Microsoft Teams, paid users will also get access to earlier premium features like the Skype Dial Pad.
History of Skype
With the assistance of a group of former classmates who had no prior telecommunications experience, Janus Friis and Niklas Zennström, who had previously co-founded the peer-to-peer file-sharing application Kazaa, established Skype in Estonia in 2003. Skype started off as a way for users to make free online calls to each other.
The unusual title was a reference to the VoIP (voice over internet protocol) infrastructure that underpinned the service: “sky peer to peer”. Skype quickly gained popularity. Eleven million users had registered by 2004.
With 54 million users, Skype was expecting $60 million in revenue annually from fees from people who wanted to call landlines and mobile phones by the time eBay revealed plans to purchase Skype Technologies SA for $2.6 billion in 2005.
Meg Whitman, the CEO of eBay at the time, had the idea that by bringing buyers and sellers together, Skype would enable individuals to sell goods—especially expensive ones—more rapidly. Additionally, eBay might charge more for these calls.
Skype users worldwide could also learn about PayPal and eBay. After 29 days, the transaction was finalised.
According to reports, the Karnataka state government has no intention of revising its March 2024 ruling banning bike taxi activities, despite the state’s imminent prohibition on the service.
The Karnataka High Court has extended the deadline for stopping bike taxi services till June 15; however, the prohibition is expected to have a significant impact on millions of commuters, lakhs of bike taxi drivers, and aggregators like Ola, Uber, and Rapido.
The HC granted the extension after the three had already filed a case contesting the Karnataka state government’s decision. Not to mention, the HC gave these bike platforms six weeks to cease operations in the state in its April 2 ruling, citing the Motor Vehicles Act of 1988’s lack of a legal framework.
According to a media report, the government is reluctant to reevaluate the prohibition because, in contrast to cars and taxis, bike taxis are mostly used for private purposes and do not pay ongoing taxes.
Although there is only a one-time lifetime tax applied when buying a bike, around 1.7 lakh cars travel Bengaluru’s roads and are subject to periodic taxes. Similar tax laws also apply to taxis.
Change in the Tax System of Commercial Vehicle
The tax structure pertaining to commercial vehicles, such as cars and taxis, has recently changed. As of May 2025, the majority of commercial vehicles are now subject to a lifetime tax scheme, whereas cars and taxis previously paid quarterly taxes.
Ramalinga Reddy, the transport minister for Karnataka, has ordered the transport department to implement the High Court’s decision to halt bike taxi activities in a similar manner. It is anticipated that commuters will pay more if there are no bike taxis available.
To make matters worse, the Bangalore Metro Rail Corporation Limited (BMRCL) raised metro fares by about 50% earlier this year, and state-run bus fares have already climbed by 15%. Between 75,000 and 1 lakh bike taxi users in Bengaluru are thought to be connected to several ride-hailing services.
Rapido said at the previous HC hearing that the livelihoods of about 6 lakh bike taxi drivers connected to the platform would be impacted by the court’s prior order. This measure clearly benefits cab service providers and autorickshaw operators. Karnataka has been experiencing continuous turmoil due to the purportedly unlawful activities of bike taxis.
The transport department launched a specific enforcement campaign against these services in response to protests spearheaded by unions representing drivers and autorickshaws.
Demand of Regulatory Framework for Bike Taxis
Growing worries about women’s safety are the reason behind the call for an appropriate regulatory framework for bike taxis. Additionally, Karnataka was compelled to discontinue its e-bike program, which was started in 2021 to enhance first- and last-mile connectivity from train, bus, and metro stations.
Following union-led protests over alleged scheme misuse, the action was taken. Simultaneously, unions representing bike taxis have demonstrated opposition to specific state initiatives. In the past few years, there have been multiple incidents of physical confrontations between car drivers and bikers, and numerous films of abuse of bike taxi drivers have gone viral.
Citing allegations of conflicts between car drivers and bike taxi operators in the city, the Bike Taxi Welfare Association filed a case in the High Court. The High Court ordered the state government to preserve bike taxi activities in Karnataka in response to this appeal.
Cellecor Gadgets Limited, one of India’s fastest-growing consumer electronics brands, has announced the launch of its “Pink Leave” policy, a progressive initiative aimed at supporting women’s health and wellbeing in the workplace and becoming one of the few companies in India to formally recognise menstrual health as a workplace priority.
The newly introduced policy grants one paid leave per month to all female employees during their menstrual cycle, reinforcing Cellecor’s commitment to building a workplace culture that is not only high-performance but also compassionate, inclusive, and gender-sensitive.
“At Cellecor, we believe that true productivity is rooted in physical and emotional wellbeing,” said Mr. Ravi Agrawal, Managing Director, Cellecor Gadgets Limited. “The Pink Leave policy is a reflection of our values-it acknowledges a very real physiological need with dignity, and reinforces our trust in our people. Supporting our women team members through thoughtful policies is an essential part of how we define leadership.”
This initiative applies across all verticals and locations of Cellecor Gadgets Limited and reflects the brand’s forward-thinking HR approach grounded in wellbeing, equity, and inclusion. In a country where conversations around menstrual health are still often avoided, Cellecor is taking a bold, human-centric stance.
The Pink Leave policy is more than a benefit- it is a statement: That employee wellbeing is integral to business success, and that women deserve supportive frameworks that acknowledge real challenges and create real solutions.
By being among the few companies in India to implement this kind of leave, Cellecor is not just changing its internal culture-it’s sending a message to the wider industry: Empathy is leadership. Women’s empowerment is a policy. And inclusion is non-negotiable.
As a homegrown brand proudly aligned with the Make in India mission, Cellecor continues to drive innovation not only in technology but also in people practices that truly matter.
About Cellecor Gadgets Limited
Cellecor Gadgets Limited’s journey in the electronics device business, and selling products in its own brand, including Smart TVs, Smart Gadgets, Wearables, Mobile Phones, Home and Kitchen Appliances, and more outsourced from various electronic assemblers and manufacturers, started in 2012 as M/s Unity Communications-its founder Mr. Ravi Agarwal’s proprietorship firm. The company is promoted and managed with an enduring sustainable business strategy, wherein the company aims to synergetic amalgamate business potential embedded in the ever-growing demand for electronic products with a modern business approach of sourcing, producing, and marketing with an objective to provide quality products at affordable prices.
Today, Cellecor Gadgets Ltd is a leading name in the consumer electronics industry, known for its innovative and cutting-edge technology. With a commitment to making happiness affordable, Cellecor offers a diverse range of products, including mobile phones, smart TVs, speakers, neckbands, TWS, soundbars, smartwatches, Washing Machines, and many more.
UK Russell Group University to offer Degrees in AI, Cybersecurity, Business, Economics, and Creative Industries.
Marking a bold new chapter in UK-India research opportunities, the University of York—one of the UK’s most prestigious research-intensive institutions and a member of the elite Russell Group—has announced plans to open a new campus in Mumbai. University of York Vice-Chancellor, Professor Charlie Jeffery, discussed the initiative with Hon’ble Prime Minister Narendra Modi during the ongoing World Audio Visual & Entertainment Summit (WAVES) in Mumbai. A formal Memorandum of Understanding (MoU) was signed with the Chief Minister of Maharashtra, paving the way for the new campus.
The proposed campus, expected to welcome its first cohort in 2026, pending final regulatory approvals from the University Grants Commission (UGC), will offer cutting-edge undergraduate and postgraduate programmes in Computer Science with Artificial Intelligence and Cyber Security, Business, Economics, and the Creative Industries. Programmes in emerging fields – AI, cybersecurity, creative industries- will be designed with global industry input, boosting job readiness in high-demand sectors and opening career pathways for Indian learners.
Chief Minister of Maharashtra, Devendra Fadnavis, said: “It is a privilege to welcome the University of York to Mumbai as we expand world-class educational opportunities in India. The opportunity to connect our students with the academic excellence of a Russell Group institution is particularly valuable and will offer significant academic and research benefits to students and scholars alike, while further enriching the educational landscape. Built on a strong foundation of shared innovation and aligned priorities, we remain dedicated to advancing a relationship that reinforces national development objectives and enriches the global exchange of knowledge.”
Vice-Chancellor of the University of York, Professor Charlie Jeffery, said: “This is a truly exciting new venture, and we are committed to building and strengthening our connections in India and contributing to the education of its future leaders and entrepreneurs. York’s global reputation rests on its outstanding achievements in teaching and research and is one of only four universities in the UK – alongside Oxford, Cambridge and Imperial College London – which is both in the top 10 in the UK for the quality of its research and has a gold ranking for the quality of its teaching. We have research strengths that align with India’s priorities, especially in the areas of digital technologies, creative industries and the real-world applications for AI systems. We look forward to working with our partners in India to welcome students and establish new research opportunities.”
The initiative also deepens research collaboration between India and the UK. Research and teaching in the creative industries is a key part of the plans for the University of York, Mumbai, and follows the launch of the University’s Co-Star Live Lab, a research and development facility based in Yorkshire which offers technological solutions to enhancing live performance experiences. CoStar Live Lab will present new opportunities for researchers in the UK and India to collaborate on new technologies that will enhance the gaming, TV, film, performance and entertainment sectors. The high-tech facilities will create immersive, multisensory and interactive technologies, incubate startups, train future leaders in the industry, while empowering diverse voices and new talent across the sector.
Initially housed in a prominent business district in Mumbai, the University of York plans to develop a state-of-the-art campus over the coming years. All programmes will be delivered in line with York’s academic standards, with students graduating with a University of York degree, enabling York to bring its world-class academic model directly to one of the fastest-growing education markets in the world.
Alison Barrett, Country Director, British Council India, added: “It is exciting to hear that the University of York is planning to open an international campus in Mumbai, India. The strong emphasis on research and innovation alongside high-quality teaching and learning will catalyse research partnerships between innovators from India and the UK. It is especially good to see the focus on the creative industries as well as courses in computer science, AI, cyber security, business and economics, all high potential sectors which will support India and UK growth. This new venture will be testament to the shared commitment between India and UK towards the internationalisation of education.”
Founded in 1963, the University of York has consistently ranked among the top 150 universities worldwide (Times Higher Education World University Rankings), renowned for its pioneering work across the sciences, humanities and social sciences, and globally renowned for its excellence in teaching, research, and innovation. With Nobel Prize-winning alumni, award-winning faculty, and interdisciplinary research centers tackling global challenges – from sustainability and digital futures to public health and conflict resolution – York is uniquely positioned to offer Indian students a transformative learning experience aligned with the needs of the 21st century.
The University of York has strong and enduring ties with India through a vibrant alumni network, academic collaborations, and joint research initiatives. The University of York’s research collaborations with India have led to the enhancement of talent in conservation, better allocation of health resources, and improvements to the resilience of edible crops, among others. The University is also working with Kalinga Institute of Industrial Technology (KIIT), where researchers and York and experts at KIIT are focused on the study of food sustainability in Odisha. The Mumbai campus intends to extend research partnerships further, as York actively engages with Indian academic partners, regulators, and industry leaders to shape a campus that meets national and global standards of excellence.
About the University of York
The University of York was founded in 1963 and is a member of the esteemed Russell Group of Universities, which brings together 24 of the UK’s most prestigious research-intensive universities. York is recognised as one of the leading universities in the UK and globally renowned for its excellence in teaching, research, and innovation.
With over 600 courses across 40 Schools, Departments, and Centres, the University proudly serves a diverse community of more than 20,000 students from over 150 countries. Its vision is clear: to be a world leader in transforming education, delivering impactful research, and shaping positive change on a global scale.
What truly sets York apart is its unwavering commitment to being a ‘University for public good’ with a focus on advancing human life and conditions—a mission that has been at the heart of the University since its inception.
According to its draft red herring prospectus (DRHP), PO-bound consumer services startup Urban Company has started to wind down its step-down subsidiary in Saudi Arabia since it was unable to turn a profit.
The startup in consumer services announced that it has begun moving its operations in Saudi Arabia to a joint venture that was established in 2024 with the goal of eventually closing the step-down subsidiary, Urban Company Arabia for Information Technology. Urban Company Arabia, which was incorporated in 2021, had a 182% increase in its pre-tax loss from INR 8.3 Cr to INR 23.4 Cr in the nine months ending December 31, 2024 (9M FY25).
For FY24, FY23, and FY22, its pre-tax loss was INR 14.1 Cr, 17.7 Cr, and 10.1 Cr, respectively. Through Urban Home Experts, the startup acquired a 100% indirect investment in Urban Company Arabia, an online marketplace that enables users to look for and hire service providers for their business and home needs.
According to the DRHP, the Group has begun operations through Waed Khadmat Al-Munzal For Marketing, a joint venture company based in the Kingdom of Saudi Arabia, as of January 1, 2025. The goal of this venture was to eventually shut down Urban Company Arabia for Information Technology, a step-down subsidiary.
Shortage of Service Professionals
Urban Company added that during FY25, FY24, FY23, and FY22, it encountered shortages of service professionals in its international markets, including the United Arab Emirates, Saudi Arabia, and Singapore, and that supply constraints might persist in the future.
“There is no assurance that we will not face any supply shortages or that we will be able to find alternatives, which could have a material adverse effect on our business, results of operations, and financial condition,” the statement stated, even though the supply shortage has not yet had a negative impact on its business operations.
Urban Company, a tech-enabled, full-stack online marketplace platform that allows consumers to hire professionals for domestic services, was founded in 2014 by Abhiraj Singh Bhal, Varun Khaitan, and Raghav Chandra. In order to raise INR 1,900 Cr through an initial public offering (IPO), it submitted its draft red herring prospectus (DRHP) to SEBI last month.
The IPO would include an offer-for-sale component of INR 1,471 Cr and a new issue of shares valued at INR 429 Cr. In the OFS, current investor Accel India will sell shares of Urban Company for INR 433 Cr, and Bessemer India Capital Holdings II Ltd would sell shares for INR 173 Cr. Elevation Capital and VY Capital are among the other investors taking part in the OFS.
Founders will not Participate in OFS Round
Between September 2024 and February 2025, the founders of Urban Company sold shares for INR 779 Cr in secondary transactions prior to the IPO.
They are not going to take part in the OFS round. From a deficit of INR 57.8 Cr in the same period last year, the consumer services unicorn posted a profit before tax of INR 27.1 Cr in the 9M FY25.
From INR 600.9 Cr in 9M FY24 to INR 846 Cr during the period under review, operating revenue increased 41%. By doing this, Urban Company has joined a number of other cutting-edge software firms that have announced plans for massive initial public offerings.
Additionally, startups like Physics Wallah, boAt, and Smartworks have submitted draft IPO documents to SEBI. The market’s watchdog approved BlueStone and Aye Finance’s initial public offerings (IPOs) last month.
Anupam Mittal, founder of People Group and investor on Shark Tank India, is known for his candid, thought-provoking takes on entrepreneurship. In a recent LinkedIn post, he called out a common trend in the startup world, the flood of founders chasing “the next big thing” without real clarity or depth.
“I’m building the next big app,” he wrote, echoing what he hears all too often. “So is the rest of BLR 😅”
“If I had a rupee for every time someone says this, I’d have… well, a lot more,” he joked.
But beneath the humour lies a sharp insight, one that separates dreamers from doers. Mittal is no longer swayed by ambition alone. As a seasoned investor, he is learnt to look beyond excitement and into substance.
Level 1 vs Level 2 Thinking: The Real Filter
Level 1 Founders: High Energy, Low Clarity
Mittal calls this “surface-level” thinking. These are founders who are full of passion, but they stop at stating what they want to build. There is enthusiasm, but no deeper interrogation of the idea.
In his words, “9 times out of 10, it’s not a pitch–it’s a ‘Jai Mata Di’,” a sign of surface-level thinking that relies more on hope than a solid roadmap.
Level 2 Founders: Clarity Over Chaos
What catches Mittal’s attention now is a different kind of pitch, one that includes roadblocks. “Level 2 founders explain what stands in the way,” he says. These are entrepreneurs who have dissected their industry, studied the friction points, and identified the real problems.
In his words, “The way you frame your thoughts tells me everything about how you’ve processed it.”
Why This Matters
Mittal’s post goes deeper than a typical motivational message. It serves as a filter for seriousness. Founders who understand their market, their risks, and what usually causes failure are more investable, not because they sound flashy, but because they HAVE done the hard thinking.
For example, when someone tells him they have “cracked the cold start problem for a niche network,” he pays attention, not because it sounds smart, but because it shows they understand what usually kills such networks.
Likewise, he respects bootstrapped founders doing INR 2 crore a month with 20% EBITDA margins. As he says, “That’s not a 💪🏼. That’s control. That’s focus.”
It’s Not Just for Founders, It’s for Everyone
Mittal’s message is not limited to startup founders. He expands the idea to students choosing careers and professionals trying to lead change. Anyone pitching an idea, leading a team, or planning their future should move beyond just passion. Understand the obstacles. Prepare for them. Talk about them.
Consistent with His Earlier Advice
This thoughtful post follows a pattern in Anupam Mittal’s public advice. He frequently shares insights with young professionals and students, like in his earlier viral post about the two most essential skills one needs to become a successful entrepreneur: the ability to sell and the ability to build.
Takeaway: Study the Dream, But Prepare for the Detours
If there is one clear takeaway, it is this: dreaming is not enough. Whether you are building a product, pitching a project, or plotting your career. Success depends on how deeply you have interrogated the challenge.
As Mittal puts it, “Don’t just show me the dream. Show me you’ve studied the detours.”
The NPCI is promising to cut the time required to complete a UPI transaction, and in half, to 15 seconds. This is good news for UPI services, which have been running into intermittent troubles during peak hours due, at least in part, to the amount of time taken to process various intermediating steps. The new mandate is definitely a step in the right direction. But whether it will translate into a better experience for users remains to be seen.
In practical terms, when a customer employs an application such as PhonePe or Paytm to scan a QR code and transact with a merchant, the request for that transaction is sent from the sender’s bank to the recipient’s bank through the NPCI network. The entire process from sender to recipient, including the all-important confirmation that completes the transaction, has been made faster and more efficient.
Smoother Transaction Status and Reversal Processes
Apart from the accelerated payment completion time, verifying a transaction’s status and starting any needed reversals are also getting faster. In the past, acquiring banks or payment service providers (PSPs) had to wait 90 seconds before they could even check to see if a payment was successful. Now, they check after 45 to 60 seconds.
TechFini co-founder Jai Kumar explains that the previous delay allowed avoiding the premature or redundant status checks that can load a system too much too soon. Everything is on track now, he says, and the new transaction timeline is better aligned with the kind of efficiency that the company and its users expect. Kumar hints that the service should recover soon, and in the not-too-distant future, have a kind of reliability you can stake your lunch on.
For end users, the new standards mean a much more smooth and well-functioning experience. Transaction failures mostly happen in the 3-5% of transactions due to network or handshake-related failures. Shoppers will not have to wait 90 seconds anymore before they or their bank can do anything about a payment that has gotten stuck. We will handle ambiguity in digital transactions more effectively and with fewer words. This move should earn us even more trust in using the digital payments ecosystem.
Will There Be Downtime?
A quicker system isn’t by definition a fragile system. Even though the new expectations for the UPI network are quite a bit tighter, its infrastructure is considered by many to be well-equipped to handle the new demands. Rahul Jain, CFO of NTT DATA Payment Services India, has a very optimistic perspective on this. He said that the digital framework supporting UPI is mature and resilient enough to accommodate the new changes and that it is not likely to have any significant hiccups.
NPCI has introduced a system of financial penalties for banks or payment players that do not meet the new standards to ensure consistency and compliance. Depending on the seriousness or how often they happen, these penalties can differ and are meant to further ensure that everyone in the ecosystem sticks to the rules.
India’s Goods and Services Tax (GST) collections in April 2025 touched an all-time monthly high of INR 2,36,716 crore. This is not only the first time collections have exceeded INR 2.2 lakh crore in a month; it also eclipsed the previous best of INR 2,23,305 crore collected in March this year. Moreover, we haven’t even seen the collections settle at these amounts; we are seeing the Gross GST Collections rising at a decent CAGR of 14.6%, hitting the INR 9.66 lakh crore mark in the FY ending March 2025.
Reason Behind Hike in GST Collections
Well, the domestic consumption and import activity is really what accounts for this. Domestic consumption has really taken off, as goods and services are being consumed and demanded like never before, and that’s leading to ripple effects through the economy as well. GST accounts for a significant share of annual revenue, making up 16.5 percent of the total.
This is because it is a tax that is paid by practically everyone, is collected in large amounts, and has a very even flow throughout the year. Still, it seems quite clear that there was also a spike in GST collection in the past month. The government collected 1.75 lakh crore in goods and service tax (GST) for April 2023, which is an unprecedented increase and certainly much higher than expectations.
India’s economic fabric and the effectiveness of cooperative federalism are resilient. Tax specialists think that the uniformity of policy implementation and the error-free coordination of central and state governments have made conditions ripe for much better compliance and reporting. They say that the federal government is taking the right steps, especially digitalization and oversight that is more driven by analytics than by people, to make tax evasion less likely and tax revenue much more likely.
Global Trade and Policy Measures Provide a Boost
April’s top bright spot for collection performance was high-profile growth in export activity, especially U.S.-bound shipments. Those surged in advance of expected reciprocal tariffs. So not only was this good for overall business volumes, but it was also splendid for GST since the way the math works is that profit leads to payments that lead to nice settlements.
The government has decided to expedite refunds of the GST , especially for exports and refunds to medium and small enterprises (MSMEs). This has relieved working capital pressures across many industries. Despite the rising outflows of refund money, these experts believe that the liquidity infused into businesses will help consumers.
Growth in GST was seen all over, with most of the major producing and consuming states recording strong double-digit increases. States like Uttar Pradesh, Gujarat, Maharashtra, Karnataka, and Tamil Nadu, each with over 10 lakh GST registrations, drove collections in a big way.
The Indian automobile market witnessed a big shake-up in April 2025, with Mahindra & Mahindra and Tata Motors surpassing Hyundai in car sales. While Maruti Suzuki remains firmly in the lead, the real news this month is that Hyundai dropped out of the top three. Mahindra, for its part, notched a healthy 28% increase in unit sales to a total of 52,330. SUVs continue to drive this automaker’s growth, with models like the ScorpioN and the brand’s other unibody SUVs, including the XUV lineup and the BE6. Meanwhile, the electric XUV9e is also maximizing momentum.
Tata Motors took the third spot with 45,199 units, although it recorded a 6% dip in sales. Hyundai was not too far behind at 44,374 units, with its sales nosediving by 12%. This is not the first time Mahindra has come ahead of Hyundai; it notably surpassed the Korean company in sales back in February of this year.
SUV Strategy Shields Mahindra from Broader Slowdown
When the compact car and sedan segments push hard against the overall car market, it is Mahindra’s focus on SUVs that appears to be hyper-driving it into a parallel universe where it is totally unaffected by the slowdown weighing upon those other segments. Demand for rugged, off-road-capable vehicles that are also suitable for use in everyday life seems to be growing too strong for the company to ignore.
Different from Hyundai and Tata, which have a much more varied range of products including hatchbacks, sedans, and SUVs, Mahindra has directed its attention almost entirely to the SUV segment. This high-demand SUV focus has proven to be more resilient lately, especially since sedans seem to be losing popularity with consumers. Market analysts that follow Mahindra say its product positioning and design strategies are bettering the brand’s chances of making a noticeable impression in the market.
Ranking Volatility Expected to Continue
Given the uncertain market conditions, automakers are being careful. With geopolitical tensions and potential developments over international tariffs affecting consumer sentiment, many companies are putting short-term volume gains behind their efficient inventory management priorities.
April’s reshuffling may not be a one-off event, observers in the industry believe. The competitive terrain among Mahindra, Hyundai, and Tata Motors is set to remain fluid for the foreseeable future. Sales performance may see-saw as each contender adapts its strategy, rolls out new models, and reacts to market demand.
Mahindra’s leadership underscores a clear strategic focus: It’s going after revenue market share in the SUV segment, which it defines as “adventure ready,” instead of overall passenger vehicle volume leadership. In the meantime, other automakers, including Toyota, Kia, Skoda, and JSW MG, saw gains in April, indicating that upward movement for specific brands is still achievable, even in what is an overall hesitant climate.
