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  • Nykaa Under ESOP Allots Shares Worth INR 32 Lakh

    Nykaa, a significant player in the beauty and fashion industry, has distributed 17,010 equity shares through its employee stock option plans (ESOP). The company stated in an exchange filing on 21 April that the equity shares were distributed in accordance with the employees’ execution of vested stock options under ESOP programmes. The allotment is valued at more than INR 32.3 lakh based on Nykaa’s starting price of INR 190 per share.

    Financial Outlook and Ongoing Developments at Nykaa

    Nihir Parikh, the CEO of Nykaa Fashion, resigned in December 2024, citing personal obligations, marking another high-level departure from the company. In terms of finances, Nykaa’s consolidated net profit increased 51% from INR 17.5 Cr in the same period last year to INR 26.4 Cr in Q3 FY25. Operational revenue increased 26.7% from INR 1,788.8 Cr in Q3 FY24 to INR 2,267.2 Cr in the reviewed quarter. Broker JM Financial kept its “BUY” recommendation on the stock due to the company’s good quarterly performance, pointing to its capacity to generate high growth in an environment of low demand. In the meanwhile, Bernstein kept its “market-perform” rating on the company, although anticipating that the margin will progressively grow as a result of ongoing investments and an improvement in profitability in its B2B and fashion divisions. Nykaa has also been working on offering 10-minute delivery on a few cities’ SKUs in response to the growing popularity of rapid commerce.

    In March, 1.01 Lakh Equity Shares were Allotted in Another ESOP

    In March 2025, Nykaa had distributed 101,350 equity shares through its employee stock option plans (ESOP). According to the filing, the equity shares that were so assigned will rank on an equal footing with the company’s current equity shares in every way. This comes three weeks after 90,500 equity shares were distributed under ESOP plans by the company led by Falguni Nayar. It had already distributed 56,750 stock shares in January.

    Current ESOP Scenario in India

    According to a 2024 survey of 160 companies, 78% of them offered employee stock option plans (ESOPs) to their staff, a considerable increase from 59% in 2021. This indicates that ESOPs are becoming more and more popular among startup owners. More firms are now offering ESOPs to all employees, not only senior management, according to a survey done by Saison Capital, XA Network, and Carta. Compared to one in four in 2021, one in three firms now provides these plans to all employees.

    Furthermore, the median ESOP pool size grew from 9% in 2021 to 12.6% in 2024, and 90% of founders now talk about ESOPs with candidates during interviews or job offers, up from 75% in 2021. Additionally, the reasons for providing ESOPs have changed; in 2024, 40% of founders cited cost reductions, up from 28% in 2021.

  • Eversource Intends to Acquire BluSmart of INR 800-1000 Crore

    A media report claims that Eversource, a private equity firm, has made an offer to purchase BluSmart for between INR 800 and 1,000 crore. Eversource Capital is a climate-focused investment platform. If the purchase goes through, BluSmart’s last known valuation of $300 million (about INR 2,561 crore) would be at least 60% lower. According to the media filings, Eversource intends to combine BluSmart with Lithium Urban Technologies, a company in its portfolio, and invest roughly $100 million in the resulting company.

    Jaggi Brothers to Step-down

    According to reports, Eversource wants Anmol Singh Jaggi and Puneet Singh Jaggi, co-founders of BluSmart, to resign from their positions on the board. Following their exclusion from the securities market by the Securities and Exchange Board of India (Sebi). This step was taken due to allegations of capital diversion and fraudulent activities conducted by the Jaggi brothers. Sebi accused the two of misusing money intended for the purchase of electric vehicles for their own personal expenses, such as buying a fancy flat. Following regulatory action, BluSmart suspended operations, causing thousands of drivers to lose their jobs and customers to express worries about ride credit refunds. The accusations of financial impropriety have also resulted in the resignation of other senior officials. Eversource Capital is a climate investing platform based in India that was established in 2018. It is a 50:50 joint venture between Lightsource BP, a worldwide solar energy producer based in the UK, and Everstone Capital, a private equity firm with operations in India and Southeast Asia.

    Choosing Luxury Over Business Development

    The Jaggi brothers’ use of businesses under their control to divert funds was one of the most humiliating discoveries. Capbridge Ventures, a promoter-affiliated company, was used to channel INR 50 crore of a loan of INR 71.41 crore. From INR 50 crore, INR 42.94 crore was used to purchase an expensive flat in Gurugram’s elite residential complex, The Camellias. Wellray Solar Industries, which is also connected to the promoters, received an additional INR 40 crore from another loan. It was very impossible to determine the money’s actual destination because it was redirected among a number of different companies, including Gensol EV Lease, GoSolar Ventures, and BluSmart Mobility.

    These deliberate actions were intended to obscure the audit trail and mislead investors, lenders, and regulators. Even more egregiously, Gensol claimed their loan accounts were in good standing in fake “Conduct Letters” that they sent to PFC and IREDA. After verifying, SEBI discovered that the agencies had not issued any such letters. Rating agencies ICRA and CARE downgraded Gensol’s credit rating to “D”, indicating high default risk and damaged confidence, because this not only broke regulatory standards but also amounted to open fraud.

  • State-Owned MTNL Defaults on 7 PSU Banks’ INR 8,346 Crore in Bank Debts

    Mahanagar Telephone Nigam Ltd (MTNL), a state-owned telecom service provider, announced on April 19 that it had fallen behind on bank loans from public sector lenders of INR 8,346.24 crore, as per the exchange filing. Seven public sector banks provided loans to the company, including the Union Bank of India, Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab and Sind Bank, and Indian Overseas Bank, according to BSE data. According to the declaration, the total amount of outstanding debt, including both short-term and long-term borrowings, was INR 33,568 crore following the most recent default of INR 8,346.24 crore. To pay the interest on the SG Bond, this is further separated into a bank loan, an SG Bond, and a loan from the Department of Telecom.

    How Much MTNL Owes to Each Bank?

    MTNL has defaulted on INR 3,633.42 crore to the Union Bank of India, INR 1,077.34 crore to the Bank of India, INR 464.26 crore to the Punjab National Bank, INR 350.05 crore to the State Bank of India, INR 266.39 crore to the UCO Bank, INR 180.30 crore to the Punjab and Sind Bank, and INR 2,374.49 crore to the Indian Overseas Bank, according to the filing data. The loan principal and past-due interest amount are included in the default payment figures, which cover the period from August 2024 to February 2025. In addition, the corporation owes INR 8,346 crore in bank loan defaults, INR 1,151 crore in Department of Telecom debt, and INR 24,071 crore in SG Bond debt.

    MTNL a Sinking Ship

    The telecom operator is experiencing a serious liquidity shortage as a result of the frequent defaults. In the previous months, the company had sent a series of letters informing the stock exchanges of similar defaults. According to TRAI data, at the end of March 2023, MTNL held a 0.21% market share in the cellular segment and an 8.14% market share in the wireline segment. The business has recently accrued a significant amount of debt and has been reporting losses for a number of years. With the exception of the 2013–14 fiscal year, MTNL has been reporting losses annually since it first disclosed one in the 2008–09 fiscal year. The hefty labour costs borne by both MTNL and BSNL, two public sector undertakings (PSUs), are a major contributing factor to the debt.

    MTNL currently employs 3,547 people, while it once employed over 20,000 people in only two service areas. In 2019, around 15,000 workers at MTNL chose to participate in the voluntary retirement plan (VRS). Another major factor contributing to MTNL’s collapse was its limited reach. In the National Capital Region (which includes Delhi and the nearby cities of Faridabad, Gurgaon, Noida, and Ghaziabad), Mumbai, Thane, and New Mumbai, it provides both fixed-line and wireless services. In terms of customer experience, MTNL has also failed to match commercial players. Due to years of being the sole service provider, the company was ill-equipped to handle subscribers’ issues in a satisfactory manner.

  • [Update] Bhavish Aggarwal’s Krutrim Denies Report on $300 Million Fundraising Plan

    Update | April 21, 2025, 5:30 pm
    Krutrim has issued a statement denying claims in the media reports regarding its fundraising efforts. The company clarified that it is not seeking external equity capital, and any reports suggesting otherwise are “speculative and misleading.” The company remains focused on executing its AI strategy with existing funds.

    Bhavish Aggarwal, founder of Ola and Ola Electric, was reportedly planning to raise up to $300 million (around INR 2,561 crore) for his artificial intelligence startup, Krutrim. The funding was said to include a mix of equity and debt to support its product and infrastructure expansion.

    Krutrim Cuts Fundraising Target as Investors Remain Cautious

    According to a Mint report citing sources close to the matter, Aggarwal had initially aimed for a $500 million raise but revised the target to $300 million due to muted investor sentiment. Factors such as the past business performance of Ola and its aggressive expansion strategy were cited as reasons for reduced interest.

    No confirmed investment offers were mentioned, but the report claimed Aggarwal remained confident about closing the round soon, with potential participation from global financial institutions like Goldman Sachs, JP Morgan, and SBI Capital Markets.

    What Krutrim Plans to Build with the Funding

    Krutrim was launched in 2023 with a focus on building artificial intelligence products designed for Indian users. The company introduced its own large language model in December 2023 and became India’s first AI unicorn just a month later, in January 2024. The company has raised approximately $75 million in previous funding from investors like Z47 (formerly Matrix) and the Sarin Family.

    Krutrim aims to create AI solutions in Indian languages, along with launching AI servers, cloud services, and consumer devices. The fresh funding will likely support the development of these offerings and help the company grow its team and infrastructure.

    The startup is betting big on the future of AI in India. Its long-term goal is to offer locally trained AI models that can power businesses and consumer applications across the country.

    Krutrim AI Labs and Vision for India’s AI Future

    In 2025, Aggarwal launched Krutrim AI Labs, aiming to develop AI technologies tailored specifically for the Indian market. Initially, the venture is backed by INR 2,000 crore in investments, with plans to scale up to INR 10,000 crore by next year. Krutrim’s goal is to build an AI ecosystem capable of competing with global players like OpenAI, Google, and Anthropic.

    Krutrim is actively working on multiple AI models, including:

    • Krutrim-2, a next-generation language model
    • Chitrarth 1, focused on images and text
    • Dhwani 1, designed for speech recognition
    • Vyakhyarth 1, designed for Indian languages

    Krutrim is also constructing India’s largest AI supercomputer, equipped with NVIDIA’s GB200 chips. This supercomputer is expected to enhance both AI and cloud infrastructure within the country.

    📢 Krutrim Issues Statement Denying Fundraising Reports

    Following the circulation of fundraising reports, Krutrim has denied the claims in an official press statement. The company called the reports inaccurate, speculative, and misleading, stating:

    “Krutrim presently is not raising any external equity as the company is well funded by the promoter and select investors and it continues to invest towards executing its AI strategy.”

    It further stated that the fundraising claims were inaccurate and clarified that all updates would be shared through official channels.

    Bhavish Aggarwal: Education | Personal Life | Success Story
    Explore the inspiring journey of Bhavish Aggarwal, the founder and CEO of Ola, as he navigates the dynamic world of technology and transportation. Discover about Bhavish Aggarwal’s education, parents, age, and more.
    StartupTalkyTejas Mundhada

  • DHL will Halt More Than $800 International Shipments to US Customers

    Citing new modifications to US customs laws, DHL Express, the logistics division of Deutsche Post of Germany, will temporarily halt international business-to-consumer (B2C) shipments valued at more than $800 to recipients in the US beginning April 21. The decision is in reaction to revised customs clearance regulations that have considerably limited the processing of higher-value shipments, according to a notification published on DHL’s website, the metadata of which showed it was produced on 19 April. All shipments over $800 are now subject to formal entry procedures under the updated rules. Prior to its reduction on April 5, the threshold was $2,500.

    Shipment Valued Under $800 Remain Unaffected

    Business-to-business (B2B) shipments will continue, although they might be delayed because of the new clearance processes, according to a number of media sources. The new restriction, however, has no bearing on shipments under $800, whether they are B2B or B2C. In its statement, DHL called the action a “temporary measure” meant to help the company adjust to the evolving legal landscape. The business reaffirmed that it is assisting clients in comprehending and navigating the new compliance standards by working closely with them.

    Tug of War Between Hongkong Post and US Authority

    DHL stated last week to a media agency that it would continue to handle shipments from Hong Kong to the US in compliance with the relevant customs laws and regulations. The business added that it would help clients through the changeover before more adjustments are anticipated on May 2. The development also tracks Hongkong Post’s latest moves. Sea mail services for items headed for the United States have been suspended, the Hongkong Post announced. Following the US government’s decision to remove tariff-free trade rights for packages coming from China and Hong Kong, the Hongkong Post accused Washington of “bullying”.

    The change in policy is viewed as a hot spot in the larger trade dispute between the US and China. Beijing has retaliated after President Donald Trump announced new duties totalling 245% on goods from China and Hong Kong, citing fears over fentanyl trafficking. Logistics companies like DHL are left to handle the aftermath as the two biggest economies in the world continue to stand apart, along with the international companies and customers who depend on them.

    About DHL

    Adrian Dalsey, Larry Hillblom, and Robert Lynn had no idea how they would transform the logistics industry when they created DHL in 1969. DHL is currently the top logistics provider in the world. With operations in more than 220 nations and territories, DHL provides a broad range of services, such as supply chain solutions, freight forwarding, and expedited delivery. In addition to offering domestic package services in partnership with Deutsche Post, they are well-known for their international express delivery, especially DHL Express.

  • Aman Gupta Speaks Out on BluSmart Fraud, Stresses Ethics Over Hype

    BluSmart’s financial scandal has sent shockwaves through India’s startup world and has led many business leaders to contemplate the true role of ethics and governance. Among the co-founders who has quite vocally addressed the situation is boAt’s Aman Gupta.

    On the heels of his appearance as a judge on Shark Tank India, the boAt co-founder took to social media to draw from personal values and professional experience in addressing what has happened. He expressed grave concern over the many layers of damage the crisis is inflicting, from investors losing their capital to founders watching their years of work unravel, employees facing uncertainty, and customers left in the lurch. Beyond these depredations, Gupta warned that the trust factor in the wider startup community is now in danger.

    Calling for a Culture Shift in Entrepreneurship

     In his post, Gupta stressed upon the lesson he learned as a child: to do things with honesty and sincerity while never compromising on what is right. He emphasized that this simple value applies in business just as it does in life. Gupta’s key point was that governance, transparency, and timely compliance are not optional, they are absolutely essential to long-term sustainability.

    Startup founders should look beyond rapid scaling and focus instead on clean books, timely audits, and transparent financial disclosures, Gupta urged. While these may seem like snoozers compared to aggressive growth strategies are the bedrock of a stable enterprise.

    Governance in the Spotlight After SEBI Probe

    Controversy broke out after SEBI’s investigation uncovered major financial shenanigans linked to BluSmart’s parent, Gensol Engineering Ltd. The probe uncovered that INR 262 crore, originally lent for EV procurement, was allegedly hijacked by the promoters of the company for personal luxuries, including a high-end apartment in Gurugram.

    Furthermore, it is alleged that lenders and investors were deceived with forged loan documents. BluSmart has now shut down, and Gensol’s stock is plummeting, yet the two companies, for reasons that are still unclear, had been projecting robust growth. Are these incidents of corporate fraud? And if so, why are they happening in the clean energy space?

    Building Startups That Last: The Path Forward

    Even though there’s been a setback, Gupta continues to be very optimistic about the resilience of the Indian entrepreneurial landscape. He wants the community to see the BluSmart debacle not as a death blow but as a wake-up call of sorts, one that was needlessly earned but should be heeded. In his eyes, to build companies that are both fast-growing and fundamentally strong, it takes emotional intelligence, plain old smarts, and what he calls a “Governance Quotient.”

    Gupta ended with a call for founders to build responsibly, a sentiment shared by many who still believe India’s startup story is being written and that integrity is the most valuable capital in that story.

  • Intel CEO Lip-Bu Tan Streamlines Leadership Structure

    The newly-appointed Intel CEO Lip-Bu Tan is redoing the company’s leadership structure, a month after taking over the job. His goal, set in a recent internal memo, is to eliminate bottlenecks in the company’s huge, unwieldy structure and to encourage it to do what it has always claimed it can do: innovate. Tan moved a number of top executives around and put the major chip divisions, data center, AI, and PC processors, directly under him. That was a clear signal that he wants to speed decision-making and cut through red tape.

    Tan stressed that the company’s innovative edge has suffered because of delays and too many silos. He made it clear that across-the-board, fast communication is necessary if the company is to compete well in the ever-changing, big-tech landscape. Working closely with Intel’s core engineering and product groups, Tan intends to get a first-hand look at the sorts of problems that need solutions.

    Veteran Executives Brought Closer to the Top

    Reorganizing the hierarchy means that three seasoned technical leaders, Rob Bruckner, Mike Hurley, and Lisa Pearce, will now report directly to Tan. Bruckner, Hurley, and Pearce have all been at Intel long enough to have a hand in many of its key chip products over the years. Bruckner, for instance, was a key architect for the Itanium processor. Likewise, Hurley has had a hand in several major Intel chips, and has also worked on the successor to Moore’s Law, a project that could have major implications for Intel’s future. For the uninitiated, the company’s success has mostly been about the team working under Lisa Pearce for years.

    Tan remarked that this action fortifies his objective of transforming Intel back into a corporation where engineering is in the driver’s seat. Moreover, it gives him much-improved sightlines into what’s necessary for Intel to compete effectively across the many markets in which it plays, and particularly in the most important of these at the moment: AI, cloud computing, and consumer hardware.

    Sachin Katti Takes on Expanded Role in AI and Technology

    In a significant promotion, Intel has moved networking chip chief Sachin Katti to the position of Chief Technology and AI Officer. Katti is also a professor at Stanford. He replaces Greg Lavender, who retired from the post. Katti’s new job description includes a long list of important development tasks for the company.

    Katti has the ideal mix of experience in academia and industry to help Intel drive its future. He not only knows how to develop breakthrough computing technologies, but also knows how to partner with startups and the broader developer ecosystem to ensure those technologies have impact. I look forward to seeing how Katti’s work in next-generation computing extends Intel’s leadership.

    The memo also revealed that Intel is looking for a new leader to run its government affairs team, who will report directly to Tan. This is considered a critical position, with the global semiconductor business becoming ever more affected by government policies, everything from export controls to public-private R&D funding.

  • Kerala Tech Talent Powers India’s First Homegrown AI Server

    Significantly boosting India’s technological self-reliance, engineers from Kerala took the lead in creating the country’s first fully designed artificial intelligence (AI) server. The Rudra-3 AI server, developed by Manesar-headquartered VVDN Technologies, was recently unveiled by Union Electronics and IT Minister Ashwini Vaishnaw.

    What made the maiden moment stand out was the minister’s enthusiastic nod to local contribution, using the Malayalam term Adipoli, meaning fantastic, to describe the accomplishment after learning that nearly 80% of the work was done at VVDN’s Kochi facility. The Rudra series includes the AI server, which features an advanced configuration of eight GPUs. It is likewise a key part of the next generation of Param supercomputers. The project represents a novel attempt by  India  to build  domestic AI infrastructure.

    AI Powerhouse with Real-World Impact

    As per the Senior Vice President of Adaptive Compute and Communications at VVDN Kochi, Joseph George, the Rudra-3 server takes high-performance computing to the next level in a few key areas:  

    1. Weather prediction  

    2. Disaster response  

    3. Complex scientific simulations  

    These and other applications affected by Rudra-3’s advanced computing capabilities range from ‘real-time’ forecasts that impact millions to ‘biomedical’ research endeavors focused on understanding drug interactions at a molecular level.

    The skills of the server are much more than a technical accomplishment; they are directed at solving urgent societal challenges. When India uses this locally harnessed AI power, it gets that much closer to directly serving its citizens with the sort of machine learning solutions that make things work better for them.

    India’s Rising Electronics Design Ecosystem

    The inauguration event took place at VVDN’s Global Innovation Park located in Manesar, Haryana, and was presided over by the minister. This particular event marked the unveiling of a new top-of-the-line Surface Mount Technology (SMT) line and a mechanical manufacturing innovation hub at VVDN. The minister took time before the cameras to proclaim that the electronics manufacturing sector in India had grown five times within a six-year time span. He also mentioned that the output of this sector now exceeded INR 11 lakh crore.

    What sets India apart, according to Vaishnaw, is its increasing ability not just to manufacture but also to design high-end electronics. This capability, which many of our competing nations lack, gives us a leg up. The successful rollout of the Rudra-3 server, built on the foundation of Indian innovation, demonstrates this advantage in spades.

  • RISA Labs Secures $3.5M to Streamline Cancer Care With AI

    RISA Labs, a healthtech startup in Silicon Valley, founded by IIT Kanpur alumni Kshitij Jaggi and Kumar Shivang, has raised seed funding of USD 3.5 million to grapple with one of the oncology space’s most persistent bottlenecks: slowdowns in treatment induced by the prior authorization process. The round was led by Binny Bansal, co-founder of Flipkart, and included investments from an array of firms and individuals: Oncology Ventures, General Catalyst, z21 Ventures and ODD BIRD VC.

    The startup’s purpose is to reduce the red tape that slows down healthcare and directly harms patients. They are starting with a product that helps with the prior authorization process, which the Mayo Clinic recently described as the most significant and universal administrative burden imposed on health care providers and patients. A lot of money and time are wasted because of these needless slowdowns. BOSS is supposed to help with that.

    BOSS: An AI System Built for Flow, Not Friction

    At its core, BOSS is not merely another layer of automation. It is a total rethink of how work gets done, especially in a complex, dynamic, and heavily regulated operational environment like healthcare. The BOSS system is based on a digital workforce that uses large language models (LLMs), digital twins, and reinforcement learning agents. These elements make up the BOSS architecture.

    BOSS is a system for the world after ChatGPT. It expresses the fundamental shift that has occurred: we are now in a world where we not only know how to convey software instructions, but also where we must be able to express our intents to non-human intelligences that work for us. This new layer of intelligence has been built with BOSS as its first major product. It was used at a large cancer treatment center in the U.S. to help reduce the time it took to get prior authorization for certain kinds of medications from 30 minutes to less than five minutes. It also processed over INR 8 crore during the trial run and, most importantly, reduced costs by 66%.

    Clinical Impact Backed by Technology and Research

    RISA Labs is tackling a serious problem: approximately 70% of patients with cancer suffer treatment holdups owing to authorization problems. In numerous instances, those hitches can stretch out for a month, with the potential to up the mortality risk 13%. 

    Dr. Jeffrey Vacirca, the CEO of New York Cancer and Blood Specialists, put it forthrightly, “Cancer care is time sensitive. Every delay in treatment can affect outcomes. Prior authorizations continue to slow us down. What RISA is building is not just smart technology. It removes barriers so our teams can move faster and stay focused on what matters most: caring for patients.”

    With its new funding, RISA Labs intends to broaden the deployment of BOSS to 100 cancer centers across the U.S. over the next two years. But their vision doesn’t stop there. This young company aims to serve all the stakeholders in oncology, from hospitals and pharma firms to platforms that coordinate care, and to make BOSS the intelligent backbone of cancer-care operations.

  • India, US Target $500 Billion Trade Deal Amid Accelerated Bilateral Talks

    A senior Indian delegation will travel to Washington next week to tackle unresolved issues before they engage in negotiations for the eagerly awaited US-India Bilateral Trade Agreement (BTA). The three-day talks, starting April 23, will be the first in-person meeting between the two countries since they agreed on the terms of reference for the trade pact. The Indian delegation will be led by Rajesh Agrawal, who is currently an additional secretary in the Department of Commerce and is set to become Commerce Secretary on October 1.

    This visit comes quickly on the heels of similar reciprocal engagements, one of which was a recent US delegation that visited India. That delegation was led by Brendan Lynch, the Assistant US Trade Representative for South and Central Asia. These kinds of visits are clearly by design, intended to serve as building blocks for the momentum that the BTA seems to be gaining on the way to something more formal. In other words, as signals go, it’s a pretty strong one.

    Scope of the Agreement and Strategic Timing

    The trade deal that is being proposed is expected to be very comprehensive, covering 19 main areas. These are: 1. Trade in goods 2. Trade in services 3. Investment 4. Customs facilitation 5. Intellectual property rights 6. Government procurement 7. Labor 8. Environment 9. Trade remedies 10. E-commerce and digital trade 11. Trade in agricultural goods 12. Trade in services 13. Cross-border data flows 14. Trade in 21st Century goods and services 15. Trade and economic implications of AI 16. Labor rights 17. Environmental concerns 18. Intellectual property rights.

    The talks with the US are for trade liberalisation, underscored Commerce Secretary Sunil Barthwal. He laid out the objective – to wrap-up talks as quickly as possible.

    Balancing Trade Interests: Key Negotiation Areas

    Negotiations will necessitate careful balancing of each nation’s priorities. The US is angling for tariff concessions that run the gamut from products like electric vehicles and petrochemicals to wines and a range of agricultural products like apples and nuts. In contrast, India seems poised to push for lower duties on its labor-intensive exports like textiles, leather goods, jewellery, and seafood, as well as on more mainstream service products.

    The main subjects of discussion are expected to revolve around two elements: ways to simplify service trade rules and methods to improve the climate for investments. The U.S. has been India’s largest trading partner for four years now, so both sides of the negotiation table have a vested interest in reducing trade barriers. The theme shown here is of unlocking new potential growth avenues.

    The current trade between India and the United States stands at approximately USD 191 billion. Nevertheless, both countries have established an assertive objective to elevate that number to USD 500 billion by the year 2030. With the United States representing almost 18 percent of India’s goods exports and over 10 percent of total bilateral trade, the imminent negotiations have the potential to create the foundation for a new epoch of economic partnership between the two largest democracies in the world.