Just a Little Beyond the Headlines - 19/02/25
Hey there—welcome back to Just a Little Beyond the Headlines, the bigger, bolder spin-off of The Daily Brief. Over on The Daily Brief, we cram a bunch of quick news bytes at the end of each episode, but there's only so much we can share there. That’s why we made this show: to dig a little wider and give you more of those stories.
And we’re not just here to parrot headlines—you’ll get that one extra insight you wouldn’t catch just from reading the news. That’s why we’re calling it Just a Little Beyond the Headlines.
Oh, and we’re sticking with the EIC format: E for Economy, I for Industry, and C for Company. Think of it as your one-stop coverage—from the big-picture macro trends down to the nitty-gritty corporate developments.
Before we start, here’s a question for you: How long do you actually want this show to be? We currently cover nine stories in around ten minutes. Should we shrink it down? Add more stories? Aim for more breadth? Would you prefer it under seven minutes, or is ten minutes about right? We’re clueless—so please help us tailor this show to what you want.
With that said, let’s jump into today’s stories.
Economy
[1] Urban Unemployment Holds Steady at 6.4%
India’s urban unemployment rate stayed at 6.4% in the October-December 2024 quarter, unchanged from last quarter but slightly better than 6.5% a year ago. But stability in the headline number hides some major shifts. Now, this data is according to the Periodic Labour Force Survey (PLFS) released by the Ministry of Statistics and Programme Implementation (MoSPI).
Under the headline numbers, women are driving the improvement, with female unemployment hitting a record low. More women are entering and staying in the workforce, suggesting slow but steady progress in job accessibility. Meanwhile, male unemployment edged up slightly, indicating that certain sectors traditionally employing men may be slowing down.
State-wise, Jammu & Kashmir (13.1%), Himachal Pradesh (10.4%), and Rajasthan (9.7%) are facing the highest joblessness, while other regions have shown marginal improvement.
The numbers suggest that while India’s job market looks stable overall, the reality depends on where you are and who you are—with some benefiting from new opportunities while others still struggle to find work.
[2] RBI Launches a new App
The Reserve Bank of India just launched the RBIDATA app, a one-stop shop for all things macroeconomic. It gives access to 11,000+ data series, interactive graphs, and lots of other data that can come in handy for researchers, students, and the general public.
Now, this data was always available. However, RBI slapped it on a mobile-friendly UI, some charts, and a search bar so you don’t have to dig through PDFs like an archaeologist. It’s an improvement, sure, but not really groundbreaking.
That said, as a financial researcher, I fully support anything that saves me from scrolling through endless RBI reports. If this app keeps me from losing my mind over messy datasets, well—long live RBIDATA!
[2] Mutual Fund + Insurance = ULIP 2.0?
SEBI is considering a new mutual fund + insurance combo product, and honestly, it sounds a lot like ULIPs with extra steps. The Association of Mutual Funds in India (AMFI) has pitched the idea, and SEBI’s advisory committee is reviewing it.
But here’s where it gets interesting—SEBI Chair Madhabi Puri Buch isn’t spilling details yet. When asked how this is different from a Unit-Linked Insurance Plan (ULIP), she simply said, “You will see when the product is launched.”
Translation? We have no clue yet. Maybe it’s revolutionary, maybe it’s just rebranded old wine in a new bottle. Either way, until we get the fine print, this could be either a game-changer or just another financial product nobody asked for.
Industry
[1] Pharmacies Don’t Want You to See Drug Prices—Why?
The National Pharmaceutical Pricing Authority (NPPA) has ordered all pharmacies—online and offline—to display drug prices clearly so consumers don’t overpay. Sounds fair, right?
Well, the Indian Pharmaceutical Association (IPA) disagrees. They’re pushing back, saying it’s not logistically “feasible” to show prices. Which raises the question—why not? Physical stores already do this, so why should online pharmacies get a free pass?
The NPPA wants transparency, but the IPA insists the rule isn’t practical and wants it scrapped. If this is about logistics, fair. But if it’s about keeping consumers in the dark? Not a great look.
[2] India’s Solar Boom to lead Energy Transition
The IEA says India’s renewable energy share will jump from 21% to 27% by 2027, with solar doing the heavy lifting. In fact, between 2025-2027, solar PV is set to grow over 28%—which sounds great, if everything actually goes as planned.
The government is throwing money at it too—₹70,000 crore for the PM-Surya Ghar: Muft Bijli Yojana, which promises rooftop solar for 10 million homes and 30 GW of capacity. Then there’s the National Electricity Plan, which aims for 500 GW of renewables by 2030.
The ambition? Massive. The execution? Well, let’s see. Policies and subsidies are nice, but turning blueprints into real, functioning solar grids? That’s the real test.
[3] Castor Seed Output Shrinks
ET reported, India’s castor seed production is down 8% this year, landing at 18.22 lakh tonnes. Farmers planted 12% less land with castor compared to last year, opting for crops like cotton and groundnut instead. Meanwhile, each hectare of land is producing 5% more seeds than before, thanks to better weather. But that’s not enough to offset the drop in total production, especially in Gujarat—India’s castor capital.
Now, why does this matter? Castor oil is in lubricants, cosmetics, medicines, and even biofuels. A production dip means a variety of things in the economy may get disrupted. However, we shouldn’t forget that we account for roughly 85% of the castor seed production of the world and are the largest exporter. So if push comes to shove, we might actually cut back on exports.
Company
[1] U.S. Seeks India's Help in Adani Probe
The U.S. Securities and Exchange Commission (SEC) has asked Indian authorities for help in investigating Adani Group over alleged securities fraud and a $265 million bribery scheme. According to The Hindu Business Line, Adani allegedly bribed Indian officials to secure electricity contracts while misleading U.S. investors about its anti-corruption practices
Now, the ironic thing is that the alleged bribes were paid in India, but no Indian court has charged Adani yet. Meanwhile, U.S. prosecutors are pressing ahead in New York, and the SEC is trying to serve legal notices to Gautam Adani and his nephew, Sagar Adani, who are both in India.
Adani Group has called the allegations “baseless,” but for now, the real legal heat is coming from Washington, not New Delhi.
[2] Tata Wants BigBasket to Fix Its Q-Commerce Problem—Without Its Wallet
Tata Sons isn’t thrilled with BigBasket’s performance in the quick commerce (q-com) race. While Blinkit and Zepto are thriving in a market that’s now bigger than food delivery, BigBasket is lagging behind. And Tata, per ET sources, isn’t in the mood to keep writing checks.
A few months ago, ET also reported that Tata Sons told its subsidiaries to manage their own finances. Now, that’s playing out in real-time—BigBasket is being asked to raise fresh capital of as much as $1 billion but with a financial investor, not Tata’s deep pockets.
No official confirmation from Tata’s on any of this, but the message seems clear: Adapt, raise money, and fight—or risk getting left behind in the Q-com blitz.
[3] Musk Meets Modi—But Will Tesla Finally Commit?
Elon Musk met Modi in the U.S., and suddenly Tesla started looking for land in Maharashtra and posted 13 job openings in India. Exciting, right? Not so fast.
Musk has flirted with India before—setting up office space in Pune, meetings, big promises—but nothing has materialized. The roadblock? Tariffs and incentives. Tesla wants lower import duties; Modi’s government isn’t budging.
Now, after this latest meeting, is something actually happening? Maybe. But until Tesla and Maharashtra sign on the contract for that factory land, this is just another chapter in Musk’s long history of will-they-won’t-they with India.
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