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  • CARS24 Acquires Team-BHP to Enhance Trusted Auto Insights in India

    India’s leading auto-tech platform, CARS24, has officially acquired Team-BHP, one of the country’s most respected and fiercely independent automotive communities. This strategic move signals a new era for India’s auto ecosystem, one where growth aligns with sincerity and information fosters profound trust.

    For over two decades, Team-BHP has remained a beacon for trustworthy, community-led discourse in the world of cars and bikes. Nurtured by millions of dedicated car owners and built on the principles of truth, independence and a shared passion for all things automotive, the platform has empowered enthusiasts with unbiased reviews, highly detailed ownership experiences and razor-sharp insights, without commercial influences. 

    Team-BHP will continue to operate independently by its founding team, with the same zero-sponsored content policy, strict moderation, and community-first approach that has earned it unmatched credibility and respect. CARS24’s involvement is focused on strengthening Team-BHP’s product, technology and AI capabilities to improve the experience of its readers and community members.

    “Team-BHP is not just a forum, it’s an institution,” said Vikram Chopra, Founder and CEO of CARS24. “As a brand that is equally obsessed with solving real problems for car and bike owners, we see this as a long-term investment in empowering India’s auto ecosystem with sharper conversations, richer insights and deeper trust.”

    “Team-BHP has always been built on one thing—an uncompromising love for cars, and the honesty that love demands,” said Rush Parekh, Founder of Team-BHP. “With CARS24 backing us, and their technology and data layered into our platform, we can now build with more scale, more depth, and more intent. This is about giving enthusiasts and owners sharper tools and deeper insights, without ever losing the independence, transparency, and integrity that brought us all here in the first place.”

    As part of this move, CARS24 will work with Team-BHP to improve platform capabilities, enhance the user experience and bring in new features that help members make smarter automotive decisions. 

    Together, the two companies envision a future where buying, selling and owning a vehicle in India becomes more fun, informed, intuitive and community-driven. 

    About CARS24

    Founded in 2015, CARS24 is already one of India’s largest auto-tech companies. But this is just the beginning. The company’s vision is to grow 100x in the next five years, seizing the rare opportunity to build a $300 billion enterprise in India.

    By harnessing cutting-edge technology, it aims to revolutionize mobility and positively transform lives across India and beyond. The company’s approach is grounded in solving for scale, ensuring simplicity, and embracing sustainability in every facet of the automotive ecosystem. From empowering customers to driving industry-wide change, CARS24 is building the future of mobility today.

    CARS24 is on the journey of a lifetime and seeking those who share our hunger for growth and innovation.

    Cars24 Business Model | How Cars24 Make Money
    Explore the Cars24 business model and discover how this AutoTech company generates revenue through innovative solutions for buying, selling, and financing pre-owned cars.
    StartupTalkyNitin Konde

  • 360 ONE to Acquire UBS’s Wealth Business in India

    According to a joint announcement, 360 One WAM will purchase Swiss financial services titan UBS’s domestic wealth management division for INR 307 crore. By purchasing 20.5 million warrants at a price of INR 1,030 each, which must be converted within 18 months of the allotment date, the company will also acquire a 4.95% ownership stake in 360 One WAM.

    According to the statement, 360 One will also purchase UBS’s residual loan portfolio, discretionary and non-discretionary portfolio management services, and local stock broking and distribution company. As of December 21, 2024, UBS has INR 26,000 crore in active assets under management.

    Additionally, 360 One WAM and UBS have formed an exclusive partnership that will enable their clients to access each other’s wealth management services.

    More Details of the Deal

    Clients of both companies will have access to both onshore and offshore wealth management products as part of the UBS-360 ONE agreement, according to 360 ONE. According to the statement, the businesses would also look into possible joint ventures on investment banking and asset management services.

    360 ONE manages $68 billion in assets and offers investment and financial guidance to over 7,500 affluent and ultra-wealthy families in India. In addition to the Credit Suisse division, UBS operates trading, international banking, and asset management operations in India, as well as a number of sizable service centres throughout the nation.

    Co-head of UBS global wealth management APAC Jin Yee Young told an international media outlet that the agreement combines “complementary” aspects of the two companies. Mickey Doshi, the head of UBS India and a former employee of Credit Suisse, informed a media source that the company’s operations would be concentrated on investment banking and equities capital markets in the future.

    Whether UBS will relinquish the local banking licence needed for the fixed-income business was not mentioned by Doshi. In 2013, UBS surrendered its Indian banking licence, but after acquiring Credit Suisse, it obtained a new one.

    UBS Business Strategy in Asia

    In contrast to its recent efforts to expand in other Asian wealth markets, UBS has adopted a wealth partnership approach in India. To develop services for its wealthy and ultra-wealthy clientele, it inked an agreement with Sumitomo Mitsui Trust in Japan in 2019 to establish a partnership that would be majority held by UBS.

    UBS, which caters to wealthy customers in China, fully owned a securities joint venture in March of this year. Despite the growing number of affluent individuals in India, one of the fastest-growing economies, foreign private banks have encountered significant challenges in generating revenue in the country.

    This struggle is primarily due to the fierce competition from deeply entrenched local actors and regulatory constraints, which have resulted in a significant number of banks exiting the market.

  • Ola Electric Faces Major Setback in Maharashtra as 75 Stores Shut Down

    Ola Electric, a premier name in India’s electric vehicle sector, is facing a severe regulatory setback. The Maharashtra Regional Transport Offices (RTOs) took a hard look at the company’s outlets, a total of 146 spread across the state. What they found was alarming: 121 of these outlets were supposedly running without the most basic legal documents, a trade certificate, that every outfit in this sector is required to have under the Central Motor Vehicles Act. 75 of these outlets have been put on notice, told to close up, with a total of 192 scooters impounded as part of the revenue recovery effort.

    The inspections began in early March 2025, in response to reports of growing numbers of vehicle dealerships operating without trade certificates or using a single certificate among several stores, notably in Mumbai and Pune. Under the law, an authorized trade certificate must be displayed at each location where a dealership sells or services vehicles. Pratap Sarnaik, the Maharashtra Transport Minister who led this crackdown, has made clear that not complying with this law will no longer be tolerated.

    Regulatory Lapses Spark Government Action

    The matter peaked on April 16 when the joint transport commissioner of Maharashtra told all RTOs to shut down Ola Electric showrooms and service centres that were operating in violation of trade certification norms. The move came after a show cause notice and was meant to take immediate effect, with RTOs reporting back within 24 hours that they had closed any offending centre. The commissioner also indicated that any such centres found to be using their trade certificates in a manner that was not intended should have their trade certificates cancelled.

    This action has brought the overarching matter of regulatory compliance into the spotlight; we now see it very clearly, indeed, and the electric two-wheeler market must take note. Ola Electric attained meteoric upward movement in not too long a time, but this swift success may have outpaced the setting and meeting of internal compliance standards that ensure, above all, customers working in the marketplace are safe, also ensuring that the company functions in accordance with the law.

    Ola’s Response and Market Resilience

    Ola Electric is facing increasing pressure, but it has attempted to remain steady. The company has responded to the media reports by saying that the allegations are speculative and misplaced. A company spokesperson reiterated Ola’s commitment to working with the state’s transport authorities to address what has been reported. The EV maker also stated that it is in the process of obtaining trade certificates for all its operational centres within the state, a procedure they claim was already underway before the enforcement operation.

    Even in the middle of this controversy, Ola is charging ahead with its innovation-driven strategy. The brand recently unveiled the Roadster X, its first all-electric motorcycle lineup. With such features as brake-by-wire technology, cruise control, and even reverse mode, the Roadster X positions Ola pretty squarely as a tech-savvy disruptor in the motorcycle market. And at prices between INR 84,999 and INR 184,999, the lineup is pitched at a broad spectrum of consumers.

  • IndusInd Bank Stocks Tumble After INR 600 Crore Discrepancy Triggers Forensic Audit

    IndusInd Bank stocks tumbled, down 6.3% to INR 776.15 on the Bombay Stock Exchange, after the lender decided to call in EY to look into a shortfall of INR 600 crore in its microfinance portfolio. The forensic audit was prompted by the revelation from the bank’s statutory auditors that there was a serious question to be raised about the bank’s financials for the fiscal year that ended March 2025. This event, the most recent of several in a very short timeline, is adding to the apparent unraveling of the bank’s governance and accounting practices.

    As of the time of reporting, the stock had slightly regained some ground, but it was still down 4.33%, trading at INR 792.20. Its steep one-year drop of 46% spotlights the combined impact of continuous operational warning signs and uncertainties over its audits. Investors are keeping a close watch on it, especially since the stock’s price persistently hovers beneath some important technical levels, specifically, the 50-day, 100-day, 150-day, and 200-day simple moving averages.

    EY Brought in Amid Mounting Pressure

    The bank has enlisted EY, renowned for housing the country’s heftiest forensic accounting outfit, to get to the bottom of the identified irregularities. Were they fraudulent? If so, who is accountable? The investigation concerns transactions that apparently took place in the second and third quarters of FY2025. Insiders say the discrepancy doesn’t cover multiple fiscal years, but the opacity of what is happening, have turned up the heat on investors.

    This fresh inquiry is separate from the ongoing audit by Grant Thornton Bharat, which is examining irregularities in IndusInd’s operations involving foreign exchange derivatives. The fact that EY has now been appointed indicates some level of urgency on the part of the board. Further, in light of this audit by Grant Thornton Bharat, it is a positive sign that the board is taking additional steps in conjunction with the appointment of EY.

    Past Incidents Compound Investor Concerns

    IndusInd’s financial issues have now led to a forensic audit, but that’s not the bank’s first brush with scrutiny. In mid-April, an audit report was released to the investing public, detailing PwC’s review of IndusInd’s portfolio. Derivative securities, while serving useful purposes in hedging and other financial strategies, can also be risky. And how risky was IndusInd’s portfolio, according to PwC? The accounting firm estimated that potential post-tax losses might hit INR 1,979 crore (around $275 million).

    The bank has recognized that the accounting effect of these losses amounts to 2.27% of its net worth as of December 2024, calculated using June 2024 P&L data. Adding to the concern, these cumulative issues have harmed sentiment and kept the stock under pressure, even though it had a brief rise of 16.6% in March.

    Despite some small technical recoveries, the long-term prognosis for the bank is seen as cautious. The 14-day Relative Strength Index (RSI) sits at 62.2, an area that tends to signal a neutral trend, but participants are anything but confident and in a hurry to forge ahead. With EY’s findings still pending and the Grant Thornton audit ongoing, a clearer path forward seems anything but imminent. Confidence in the dusky outlook for risk-and-compliance nether-lights has encouraged would-be investors to keep their checkbooks closed.

  • IMF Warns of Slowing Global Growth Amid Trump Tariffs and Policy Uncertainty

    The International Monetary Fund (IMF) has cut its global growth forecasts. It now sees a distinctly threatened world economy as a result of U.S. President Donald Trump’s recent trade policy decisions and the uncertainty they are creating around the globe. In its latest World Economic Outlook published in April 2025, the IMF projected that world growth would be 2.8% in 2025, down 0.5 percentage points from the same organization’s estimate made just three months earlier. The growth forecast for 2026 has also been lowered a bit, now set at 3.0%.

    This downward revision follows a broad tariff policy introduced by the United States on April 2, which effectively slaps universal duties on imports. In the wake of this, the global financial world has grown even more anxious, with not a few policymakers and analysts now fretting over the apparent disintegration of the post-World War II economic order.

    India’s Resilience Tested but Growth Outlook Dips

    India is still on track for relatively notable growth compared to other countries, but it was not immune to the IMF’s latest round of downgrades. The country’s gross domestic product growth is now projected at 6.2% for the fiscal year that ends in March 2026, which is down by 0.3 percentage points from where the IMF had previously pegged it in January. And the IMF sees this moderation basically flowing from two areas: trade disruptions and overarching global uncertainty.

    As India moves forward, it is expected that the growth rate will nudge up slightly to 6.3% in the next fiscal year. Also, inflation is likely to remain in comfortable territory, with the Consumer Price Index projected to be up 4.2% in FY26 and 4.1% in FY27. These are the sort of stable fundamentals that should underpin investor confidence. But even so, the unfolding global situation may continue to exert some pressure on India’s external sector.

    Global Economic Risks Climb Sharply

    The IMF has some alarming news: the chances of a global downturn are rising. The Fund isn’t formally calling for a recession, but it’s now estimating a 30% chance that the world will experience something similar in 2025. That’s nearly double the 17% risk it assessed earlier this year. What seems to be driving this increase is a combination of the sheer size of the policy shifts and how uncertain we’re all now feeling about what will happen next.

    The IMF stressed that although growth is still above levels that would ordinarily result in a recession, the current path we’re on is fraught with risks. Inflation, which had seemed to be heading decisively downward, is now being marked up, and across the world, the process of getting inflation to settle down in a more normal range seems to be stalling.

    Tariffs Trigger Retaliation and Broader Disruptions

    The trade conflict has already pushed retaliation to a blistering pace. China, contending with U.S. tariffs that are hitting some goods at levels as high as 245%, has struck back, levying its own steep counter-tariffs that hit 125% on a number of American goods. And it’s not just China that’s getting squeezed; other parts of the world, including the Euro area, are caught in the crossfire. Multiple European companies are watching their business hit walls that are only going to get higher as trade relations deteriorate.

    The IMF is cautioning that the recalibration of the capital markets and the shifting around of the flows of capital have the potential to create some very choppy waters for several countries, especially those that have a high level of debt and are designated as emerging economies. In the Fund’s concluding remarks, it urged countries around the globe to work together in a renewed spirit of international cooperation to avoid those types of reforms that retreat from the global trading system.

  • Gold Prices Cross INR 1 Lakh for the First Time: What’s Powering the Surge?

    In India, gold has crossed the INR 1 lakh per 10 gram threshold for the first time in history, marking a key moment for the precious metal. The recent price move was very much an international one, with gold climbing past USD 3,400 an ounce. Instability in worldwide financial markets, which U.S. President Donald Trump has worsened with his controversial economic policies, has sent many investors scurrying to the largely forsaken yellow metal as a safe haven. Gold is now establishing itself as a hedge against whatever the President might throw at the nation and the world.

    As of Tuesday, 24-karat gold was trading at INR 101,350 per 10 grams in the Mumbai bullion market. The variant of 22 karats was standing at INR 92,900. The broader flight to safety among investors, who are turning away from riskier assets, is emblematic of a potential period of prolonged inflation and unpredictable monetary policy. It also makes a curious case for gold’s rising demand.

    Trump’s Fed Overhaul and Dollar Slide Drive Momentum

    An increasing contributor to the gold rally is the friction that is growing between President Trump and the U.S. Federal Reserve. His public criticism of Jerome Powell, the current Fed Chair, and his demands for aggressive interest rate cuts have unmoored investor confidence. The U.S. dollar has since been set adrift, falling to its lowest level since 2022. The dip has rendered the once-mighty dollar much less appealing to global investors, which has in turn made gold much more appealing by comparison, yielding a less-than-flattering chart for the greenback.

    India’s Enduring Love for Gold Remains Strong

    India, the world’s second-largest consumer of gold after China, keeps showing resolute demand. In 2024, the country used up 802.8 metric tonnes of gold, an uptick from the 761 tonnes tallied the prior year. The overall worth of this demand shot up to INR 5.15 lakh crore, per numbers from the World Gold Council.

    The cultural importance of gold in India runs very deep. Gold is often seen as a store of value that can be passed down through the generations. When families experience times of financial distress, say, to fund a medical emergency or to pay an educational expense, they often try to use gold as a means to secure a loan. And because prices have been going up, gold-backed loans have only become more appealing since the opportunity is there to use easy digital platforms to access them and, of course, because gold is always said to be good for securing a loan.

    As costs rise, the need for gold loans is gathering speed. With the economy taking a hit and inflation not expected to go away anytime soon, people are using gold as an asset they can both depend on and lend against. This trend only seems likely to increase, especially if instability in the geopolitical realm and devalued currencies stay in play.

  • Trump Walks Back Threat to Fire Fed Chief Powell, Markets Rebound

    Federal Reserve Chairman Jerome Powell needn’t worry about losing his job anytime soon, President Donald Trump made clear Thursday evening. That’s because Trump, despite previous public criticisms of Powell, has no current plans to put someone else in charge of the U.S. central bank. From the Oval Office, Trump told reporters he has “absolutely no plans” to replace Powell, who has come under fire from Trump for not cutting interest rates more rapidly.

    Trump’s recent sharp comments, including calling Powell a “major loser,” had spooked markets last week, triggering a rapid selloff in US stocks, bonds, and the dollar. But with the President’s latest assurance, financial markets seemed to find their footing again, with Asian and US indices nicely rebounding on Wednesday. Analysts think Trump is trying to influence monetary policy via his remarks, rather than trying to pull Powell out of his role. But they also voice concern that all this is undermining the appearance of central bank independence.

    Markets Breathe Easier as Powell Keeps Seat

    Following Trump’s toned-down remarks, investor feeling shifted to the upbeat. Asia’s key stock markets surged in morning trading. Japan’s Nikkei 225 index shot up 1.9%. Hong Kong’s Hang Seng index surged 2.4%. Even the Shanghai Composite, which had been struggling, inched up 0.1%. In the U.S., stocks continued to rise sharply with the S&P 500 closing 2.5% higher on Tuesday and the Nasdaq rising 2.7%. Futures markets suggested that this optimism would carry into midweek.

    The bounce reflects the relief that leadership at the Federal Reserve is likely to remain stable, at least in the short term. Many investors feared a leadership shakeup could trigger even more policy confusion at an already confusing time when global economic signals are decidedly mixed.

    Trade Tensions Still Cast Long Shadow

    Although Powell’s position looks secure for the time being, the bigger issue of trade seems to be going unresolved. Trump gave a hint during the week that he might take a softer line with China, specifically, he suggested that he might lower tariffs if that country comes to the negotiating table. He didn’t, however, suggest that he might eliminate them. Perhaps more telling was what Treasury Secretary Scott Bessent said during the week. He called the current trade environment “unsustainable” and expressed the view that a de-escalation of tensions was necessary.

    Even if markets are reacting well at the moment, there is still a lot of uncertainty around the prospects for free trade. The friction between the U.S. and China, not to mention other global partners, is continuing to cloud the outlook. Policymakers are obviously concerned about inflationary pressure arising from tariffs, especially when the bullish factors for the stock market today are tied to fears that we are heading for a recession.

  • Google Parent Considering Moving Pixel Smartphone Manufacturing to India

    According to reports, Alphabet, the parent company of Google, is in advanced negotiations to move some of the manufacturing of its Pixel smartphones from Vietnam to India. According to a media report, two weeks ago, Alphabet concluded the initial round of talks with its contract manufacturers, Foxconn and Dixon Technologies.

    A media house has also been informed by two industry officials that the corporation intends to localise the production of certain smartphone components, including batteries, chargers, fingerprint sensors, and enclosures. The majority of components are currently imported from the United States. Since President Donald Trump imposed significant tariffs on Vietnam, the Pixel manufacturer intends to be on the safer side.

    Trade War Between the US and Vietnam Calling for the Shift

    While the United States announced a 46% duty on Vietnamese imports, India is subject to a far lower rate of 26%. The 10% baseline tariffs remain in effect even though Trump declared on April 9 that reciprocal duties would be suspended for 90 days.

    However, China had no reprieve. The Trump-led administration maintained the 145% penalty on the Asian economic powerhouse as a form of retribution against the US reciprocal tariff policy, even though other countries were excluded from it. In 2023, the firm announced that it would start producing its Pixel 8 series smartphones in India.

    A year later, it signed a contract with Dixon Technologies, a local contract manufacturer, to begin production. Last year, the multinational tech giant began negotiations with Foxconn to build its Pixel series.

    Google and Apple Locking Horns on India

    At the time of Google’s partnership with Dixon, it was determined that the contract manufacturer would produce one lakh Pixel smartphones in the country each month. Out of those, approximately 25% to 30% of the units are scheduled for export.

     Foxconn has been producing 43,000 to 45,000 units per month for Alphabet, according to a media report. This initiative coincides with rival Apple’s plans to boost its iPhone manufacture in India. The goal of Foxconn, the Indian contract maker of iPhones, is to boost production from 12 million to 25 million handsets. The nation’s electronic manufacturing sector is poised to grow into a massive potential.

     At the moment, the nation produces roughly 33 crore mobile phones. As per the Economic Survey 2024-25, India has reduced its dependency on imports of cellphones since 99% of them are manufactured in India alone.

    Some Pixel units are manufactured in China in addition to Vietnam and India. In an attempt to lessen its dependency on Chinese manufacturing, Google moved the production of Pixels to Vietnam in 2023, mostly through Foxconn and Compal. According to reports, last year almost half of all high-end Pixel models were put together in Vietnam.

  • Delhi HC Notifies Zomato and CCI of NRAI’s Exclusion in Antitrust Investigation

    As part of an ongoing antitrust probe against the foodtech giant, the Delhi High Court (HC) has sent notice to Zomato and the Competition Commission of India (CCI).

    According to reports, the HC made the rulings at a hearing on a plea against the National Restaurant Association of India’s (NRAI) exclusion from the confidential ring during the investigation. The HC was also urged by the NRAI to examine the company’s confidentiality claims.

    What is Confidential Ring?

    The confidential ring was first introduced in 2022 and gives parties access to private documents or information about other parties in an inquiry so they can better defend themselves. The confidentiality ring aids regulators in quickly resolving complaints, subject to specific riders. Exclusion from the ring inhibits a petitioner’s capacity to make a defence.

    It is important to remember that in October 2024, the competition watchdog removed the NRAI from the ring after it had been first included. At the hearing on 21 April, Zomato’s lawyer allegedly argued that the NRAI should not be included in the confidential ring because it included companies that are competitors of the foodtech juggernaut.

    Issue to be Further Heard on 23 April

    The NRAI’s claim against Zomato was combined with a similar suit against Swiggy by the High Court bench, which was presided over by Justice Sachin Datta.

    In November of last year, the HC also sent out a notice on the Swiggy case. At its upcoming hearing on April 23, the HC will now consider both cases together. This news broke on the same day that the CCI upheld Zomato’s platform fees and delivery costs, ruling that they do not constitute an abuse of control.

    The most recent development occurs five months after a report stated both Zomato and rival Swiggy were found guilty internally by the competition commission. According to CCI, both businesses have limited market competition by favouring particular restaurant partners, in violation of competition regulations.

    CCI Putting a Strict Scanner of Zomato and Swiggy

    After NRAI filed a complaint in 2021, the CCI conducted an examination involving the two companies for over two years before issuing its antitrust decision. In its lawsuit, the industry association had said that the foodtech platforms participated in anticompetitive practices such as deep-discounting methods, bundling of services, exorbitant fees, delayed payment cycles and imposition of one-sided terms.

    As part of the confidential ring, the watchdog had already granted the NRAI restricted access to the antitrust report in April 2024. In the Karnataka High Court (HC), Zomato and Swiggy later contested the CCI’s order, claiming that the disclosures may cause the two businesses “irreparable commercial harm” even in the presence of confidentiality protections.

    The Karnataka High Court then ordered the watchdog to re-examine its ruling in June 2024, which cleared the path for the October 2024 verdict that barred the NRAI from the confidentiality ring. The restaurant body moved the Delhi HC as a result of this development.

  • The US Pressuring India to Grant Amazon and Walmart Complete Market Access

    According to a media outlet, the administration of US President Donald Trump plans to pressure India to grant online retailers like Amazon and Walmart complete access to its $125 billion e-commerce sector.

    The US intends to pressure Prime Minister Narendra Modi’s administration for e-commerce fairness in extensive negotiations on a US-India trade deal that will include industries like food and automobiles. The Trump administration did not specify the measures it anticipates the Indian government to take.

    How Amazon and Walmart Currently Operate in India?

    Amazon and Walmart are able to operate in India through local units, but they are prohibited from directly selling to consumers and holding inventory. In contrast, Reliance, a domestic firm, is able to establish physical stores and leverage its extensive retail network to reach customers throughout the country. In an attempt to evade US tariffs, New Delhi is currently discussing a trade agreement with the US.

    Officials in New Delhi want to finalise a trade agreement with the US under the 90-day halt on tariff hikes that Trump imposed on April 9 for major trading partners. Furthermore, US Vice President JD Vance also met with Indian Prime Minister Narendra Modi on 21 April for further discussions.

    McMillon and Bezos Eyeing Big of Trump’s Administration

    Doug McMillon of Walmart spoke at Mar-a-Lago on India’s limitations on international e-commerce businesses. The US plan to increase retail access in India puts Bezos and McMillon in competition with Mukesh Ambani, the richest person in Asia. Ambani’s Reliance Group controls Indian retail and runs a number of e-commerce sites.

    The US has been attempting to open up India’s home market since 2006 but has been effectively thwarted each time, according to Arvind Singhal, chair of the retail consultancy firm Technopak Advisors. Beyond stocking limits, US merchants have confronted recurrent Bureau of Indian Standards product inspections, according to industry officials.

    During negotiations, the Trump administration closely coordinated with US e-commerce platforms, according to two industry executives who spoke to a media outlet. In the meantime, Trump has already called India the “tariff king” because of its protective measures. As India’s biggest trading partner, both India and the US want to double their present amount of bilateral commerce in products and services to $500 billion.

    The Confederation of All India Traders’ secretary-general, Praveen Khandelwal, said that the effort to persuade India to allow American giants like Amazon and Walmart to expand its e-commerce industry is part of a larger trend of economic diplomacy meant to ensure market dominance for its companies.

    He continued by saying that although foreign investment is good, it shouldn’t come at the expense of weakening the interests of India’s small traders or disrupting the country’s retail ecology.