Mid-September 2025 brought a mix of trade relief, IPO buzz, lawsuits in AI, and landmark corporate moves. Here’s everything you need to know.
🌍 Trade Deficit Narrows on Services Surplus
DGFT data shows India’s merchandise trade deficit eased to $26.49B in Aug 2025 from $27.35B in July. Exports slipped to a 9-month low of $35.1B, with U.S. shipments plunging to $6.87B amid steep tariffs. Relief came from a stronger services trade surplus and lower crude imports, though gold imports spiked above $5B.
🏦 RBI Likely to Hold Rates in October
Senior bankers don’t expect the RBI MPC meeting on 01-Oct to deliver a rate cut. Between Feb–Jun 2025, RBI had already cut rates by 100 bps, but it paused in August. With GST cuts already boosting consumption, bankers see only one more 25 bps cut in FY26, possibly later in the year.
🤖 Perplexity AI Faces Copyright Suit
AI firm Perplexity is facing a lawsuit from Encyclopaedia Britannica and Merriam-Webster in New York for alleged copyright infringement. The case accuses Perplexity of scraping and reproducing publisher content without permission. The outcome could be pivotal for AI’s handling of intellectual property.
📈 Groww Files for ₹7,000 Cr IPO
India’s largest digital brokerage Groww has filed DRHP with SEBI for a ₹7,000 Cr IPO, including ₹1,060 Cr fresh issue and ₹6,000 Cr OFS. Early investors like Peak XV, Y Combinator, Ribbit Capital, and Tiger Global are likely to offload stakes. The listing is expected by November, making Groww only the second listed low-cost broker after Angel One.
🇮🇳🇺🇸 India & U.S. Push for BTA
Despite recent tariff tensions, India and the U.S. are working toward signing their first Bilateral Trade Agreement (BTA) by November. Both nations aim to rebuild ties and revive trade momentum, though the 50–60% U.S. tariffs on Indian goods remain a sticking point.
🚀 Eternal Ltd Surges into Top-25 Market Cap
Eternal Ltd (formerly Zomato) has stormed into the top-25 NSE companies by market cap at ₹3.16T, up 62% since March 2025. Its rise past Tata Motors, Wipro, and Adani Ports is fuelled by its quick commerce growth and investor focus on domestic consumption stories.
🌎 World News: Tyres & Steel
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Tyre Boom: PWC & ATMA project India’s tyre industry revenue to jump 12x from ₹1.1T to ₹13T by 2047, driven by premiumization, exports, and higher replacement demand.
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Jindal Steel: In talks with ThyssenKrupp AG to acquire its European steel business, with a €2B decarbonization plan, supported by iron ore mines in Cameroon.
📌 Conclusion
From trade deficit relief and Groww’s mega IPO filing to Eternal’s market cap leap and India-U.S. trade negotiations, the week showed resilience amid challenges. Global moves in AI, tyres, and steel only add to the dynamic landscape investors must track.
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