Mid-September 2025 has brought a mix of trade headwinds, corporate governance debates, and a busy IPO pipeline. Here’s a roundup of the major developments shaping markets.
🌍 Tariff Talks with EU Amid U.S. Pressure
As U.S. tariffs bite Indian exports, New Delhi is seeking tariff relief from the EU on labour-intensive goods like textiles, leather, and gems & jewellery. In return, the EU wants tariff cuts on wine (150% duty) and cars (110% duty), which together account for $2.5 billion of EU exports to India.
📈 IPO Pipeline Cleared by SEBI
SEBI approved several high-profile IPOs, including Pine Labs, Hero Motors, Orkla India, Emmwee Photovoltaic, and Canara Robeco AMC. These mega IPOs must be launched within one year. Meanwhile, Manipal Payment and Identity Solutions (MPISL) confidentially filed for a ₹1,200 crore IPO.
🚢 Trade Deficit Narrows Slightly
India’s merchandise exports rose for the second month, clocking $35.1 billion in August 2025. However, exports to the U.S. slumped to $6.86 billion due to tariffs. Imports fell 10.1% YoY to $61.59 billion, helped by cheaper Russian crude. The trade deficit narrowed to $26.49 billion, down from $27.35 billion in July.
📊 WPI Inflation Back in Positive
WPI inflation bounced to +0.52% in August, after two months in the negative. Food and manufactured goods drove the rise, while fuel inflation fell to -3.17%. CPI inflation also spiked, signalling broader price pressures. Higher producer prices could increase costs of doing business in coming quarters.
🏢 Tata Sons Leadership Debate
Trustees of Tata Sons back N. Chandrasekaran for a third term, but Noel Tata has suggested splitting the role into CEO, MD, and Deputy CEO. Noel wants Chandrasekaran to become non-executive chairman from 2027, when he crosses 65, leaving operational roles to younger leaders.
🛒 Flipkart Losses Widen Despite Revenue Growth
Flipkart’s FY25 net loss widened 24% to ₹5,189 crore, even as revenues rose 17% YoY to ₹82,787 crore. Marketplace services grew 100%, but rising material and finance costs drove losses. Despite Walmart’s heavy investment, profitability remains elusive.
🌊 Shrimp Export Hit by U.S. Tariffs
Andhra Pradesh faces ₹25,000 crore losses in shrimp exports due to steep U.S. tariffs. The state, which contributes 80% of India’s shrimp exports, is hit hard as seafood was a key U.S. target along with textiles, leather, and gems.
🏠 Realty Stocks in Focus
Nuvama Wealth highlighted realty leaders Prestige Estates and Brigade Enterprises as top picks. Despite macro challenges, FY25 saw improved profits and robust cash flows in the realty sector, with India entering the middle stage of its housing cycle.
📌 Conclusion
From tariff battles and IPO clearances to inflationary pressures and leadership changes, India’s economy is navigating through both global risks and domestic opportunities. Investors should track trade negotiations, IPO launches, and sector-specific shifts to align portfolios.
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