Just a Little Beyond the Headlines - 18/02/25
Welcome back to the grand experiment we call Just a Little Beyond the Headlines! Our last episode did well enough that we get to keep this thing going for another three days—so if you’re enjoying it, do us a favor and hit that like and share button.
If you’re new around here, this show is basically an offshoot of The Daily Brief. Over there, we end each episode with quick tidbits—those extra headlines that didn’t make it into the main news. And because some stories deserve more than just a quick mention, we’ve rounded them up here.
But don’t worry, we won’t just regurgitate headlines. You’ll get that one extra insight you can’t glean from a cursory scroll through the news. That’s why we’re calling it Just a Little Beyond the Headlines—because, well, it is.
Oh, and we’re keeping it neat with the EIC format: E for Economy, I for Industry, C for Company. Think of it as your daily coverage from the big-picture stuff to the nitty-gritty corporate moves.
Alright, enough build-up—let’s dive in.
Economy
[1] ₹1 lac crore in Welfare Funds is Lying Idle
Business Standard reports that state government accounts hold nearly ₹1 lakh crore of unspent money meant for centrally sponsored schemes. The biggest chunks belong to Pradhan Mantri Awas Yojana–Gramin, Jal Jeevan Mission, AMRUT, Swachh Bharat Mission–Urban, and others. Together, these programs account for 45% of the total unutilized funds.
Each scheme uses a Single Nodal Agency (SNA) account, which a state government designates to hold and release funds on time. This system aims to avoid idle money while states still borrow for development. However, these accounts remain stuck with unused funds. Meanwhile, the latest budget allocates another ₹1.6 lakh crore to central sector schemes—a 7.2% jump from last year.
So why do states keep such large sums unspent? Observers once worried about corruption, but now they point to weak implementation, sluggish planning, and delayed approvals. If the money can’t reach the people it’s meant to help, what’s blocking the pipeline—and can states fix it before more funds pile up?
[2] India’s Exports Shrink 3rd Month in a Row
India’s exports have been under pressure, declining for three consecutive months. There is some positive momentum on electronics, engineering goods, and pharmaceuticals exports though. Meanwhile, imports are climbing, driven by rising gold purchases and a steady demand for energy products.
The United States remains India’s largest export destination, followed by the UAE and the Netherlands. On the import side, China, Russia, and the UAE continue to dominate, supplying essential raw materials, energy, and industrial inputs.
Contrary to what data says, the Commerce officials see this as a strong performance. They feel despite global trade tensions, India is able to maintain a steady export flow. However, commodity price fluctuations and tariff uncertainties remain risks, especially after Trump’s “retaliatory tariff” plan, something we have talked about greatly in The Daily Brief too.
The rupee’s depreciation is another factor—while it makes exports competitive, it also increases the cost of imports, particularly oil, which India depends on heavily.
[3] The US and Russia are in Peace talks for Ukraine, but didn’t invite them or the EU
High-level talks between the U.S. and Russia have kicked off in Saudi Arabia to find a way out of the Ukraine conflict. However, Ukraine and European nations feel sidelined because no one invited them to the table. Ukraine refuses to accept any deal made without its input, and European leaders have called an emergency meeting to plan their next move.
Europe’s absence raises serious questions about its alliances and security. Investors anticipate that governments will boost military expenditures to strengthen the continent's security posture. Companies such as Rheinmetall, BAE Systems, and Thales have experienced significant stock price increases, with some shares rising by over 7%.
This rise has shot European stock markets to new highs, with indices like the DAX 40 and STOXX 600 reaching record levels.
Industry
[1] Print media grows faster than TV
The Hindu Business Line reported TV ad spending has slowed, but print advertising is holding steady, defying expectations. Despite the digital revolution, advertisers are rediscovering print’s ability to create localized, high-trust brand experiences. Even with fewer advertisers, print ad revenue continues to grow, driven primarily by elections and festive demand.
Meanwhile, TV ad revenue is struggling, as brands hesitate to spend on expensive prime-time slots with uncertain reach. Digital remains dominant, but print is proving its worth by offering targeted, cost-effective campaigns. Advertisers see value in creative print ads that capture attention and even go viral online.
Industry experts predict print’s modest growth to continue, though digital will keep gaining ground. However, it’s important to note that TV still commands a much larger share of ad spending than print. Growth rates might be shifting, but TV remains the bigger player in traditional media.
[2] World Class Weight-Loss Drugs Enter India
The Business Standard reported that global pharmaceutical giants are preparing to introduce new weight-loss medications in India to combat the nation's rising obesity rates. These drugs, known as GLP-1 receptor agonists, help regulate blood sugar and appetite, promoting weight loss. Eli Lilly plans to launch its drug in India by 2025, pending regulatory approvals. Novo Nordisk aims to introduce its drug by 2026, though efforts are underway to expedite this to 2025 to align with Eli Lilly's timeline.
Distribution strategies include partnerships with local firms to navigate India's complex market. However, pricing remains a significant concern. Due to patent protections, these innovative drugs are expected to be priced at a premium, posing challenges in India's price-sensitive market. High costs may limit widespread adoption, especially since long-term use is often necessary for sustained weight loss.
The Indian government is considering incentives to promote local manufacturing of these drugs post-patent expiry, which could reduce costs and improve accessibility.
[3] India’s First Homegrown Chip Set for Launch
The Business Standard reported, India is set to unveil its first domestically produced semiconductor chip by September-October 2025, a key milestone in reducing dependence on global suppliers. Tata Electronics, in collaboration with Powerchip Semiconductor Manufacturing Corporation (PSMC), is leading this effort at the Dholera semiconductor fab in Gujarat.
The government is pushing semiconductor self-sufficiency, investing in gallium nitride technology, and offering financial incentives under the Semiconductor Mission. However, while this chip marks progress, it is unlikely to immediately rival advanced processors from the U.S. or China, which have decades of research and manufacturing scale.
India’s first-generation chips will likely serve automotive, telecom, and industrial applications, rather than cutting-edge AI or consumer electronics. With the semiconductor market projected to reach $63 billion by 2026, this step is crucial, but catching up with global giants will take time. Success depends on scaling production, securing supply chains, and continued R&D investment.
Company
[1] Titan maybe thinking of acquiring Damas, again
ET reported that Titan Company, the Tata Group’s jewellery arm, is eyeing a stake in Damas Jewellery for about ₹4,500 crores. Damas is a big jewellery retailer in the Middle East Region. If the name sounds familiar, it should—this is Titan’s second attempt at bagging Damas after a previous deal fell through two years ago over valuation disputes. There is no official confirmation of this development.
The GCC region is a key target for Titan’s international expansion. The UAE, in particular, ranks as the world’s fifth-largest gold jewellery market, because of its impressively high per capita consumption. Titan is already there with its Tanishq brand operating in Dubai, Doha, Sharjah, and Abu Dhabi—and now it looks like it wants more.
But here’s a reality check: according to Harvard, 70–90% of acquisitions crash and burn. Titan’s track record is a mixed bag—CaratLane was a major win and now pulls in around 6% of Titan’s revenue, but Favre-Leuba - acquisition of the Swiss watchmaker - didn’t go so well, ending with a sale to Ethos in 2023.
[2] Did TCS Game the U.S. Visa System?
ET reported that TCS, India’s largest IT firm, is facing a lawsuit from former employees. Ex-employees claim that TCS misused L-1A manager visas to bypass strict H-1B visa rules.
What’s the difference between the two visas? H-1B visas are limited, require a lottery, and have strict salary rules. L-1A visas are meant only for executives and managers, and have no cap and fewer restrictions. Imagine H-1B as a concert with limited tickets, while L-1A is a VIP pass for executives—TCS is accused of handing out fake VIP passes to avoid the lottery.
Employees allege TCS falsely classified regular workers as “managers” to get easier approvals.
TCS denies any wrongdoing, stating it follows U.S. laws. The Department of Justice has declined to intervene saying that they don’t have enough evidence. But if proven true, this could lead to penalties, visa restrictions, and stricter oversight on Indian IT firms operating in the U.S.
[3] Licious eyes $2 billion IPO
Licious plans to become profitable first and then launch a $2 billion IPO by 2026. In 2023, it commanded a $1.5 billion valuation.
The company operates in 20 Indian cities and offers fresh meat, fish, spice mixes, spreads, and ready-to-eat products. After it goes public, Licious plans to use the IPO funds for deeper market penetration, small-store acquisitions, and bigger operations.
India’s IPO market raised $20 billion in 2024—second only to the U.S.—and Licious hopes to ride that wave. It also wants to give early investors an exit and solidify its position as the top branded meat player. However, with demand slowing post-pandemic, the company must prove its strategy can handle the pressure.
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Please let us know what you think of this episode 🙂
The concert ticket analogy to explain visas was truly helpful. Such analogies help me remember and understand things better! hope you continue with this kind of writing further
Very well written, would like to read this report daily