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Welcome to The morning report brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point. Check out the top news for the day.
India’s outward remittances for education abroad fell 24% year-on-year in August 2025 to $0.32 billion — the lowest August figure since 2017. Travel-related remittances also dipped 19%, pulling overall LRS remittances down 18% to $2.64 billion. Experts link the decline to tighter visa norms and shifting student preferences away from the US towards Europe, Australia, and the Middle East. While remittances for deposits and medical treatment fell, investments in property and equity rose. Economists say this trend eases current account pressure but may impact future NRI inflows if student migration continues to shrink.
2. Markets end flat in Muhurat trading as experts bet on revival in Samvat 2082
Markets ended nearly flat in the one-hour Muhurat trading session, marking the start of Samvat 2082. Nifty rose 0.10% to 25,868.60, and Sensex gained 0.07% to 84,426.34. Despite festive cheer and broad market participation, experts cited Samvat 2081’s underperformance due to weak earnings. Cipla led gains, while Kotak Mahindra Bank topped the losers. Analysts remain optimistic, expecting a revival driven by improved earnings, sectoral growth, and potential trade deals. Technical indicators suggest bullish momentum, with targets of 27,600 for Nifty and 90,100 for Sensex. The mood is cautiously hopeful for a stronger year ahead.
3. Diwali spending peaks with ₹5.40 lakh crore in goods, ₹65,000 crore in services sales: CAIT
India recorded its highest-ever Diwali turnover in 2025, with ₹5.40 lakh crore in goods and ₹65,000 crore in services, marking a 25% jump from last year. A CAIT survey across 60 cities credited GST rate cuts and PM Modi’s “Vocal for Local” push for the surge. 87% of consumers preferred Indian goods, boosting domestic manufacturing. Brick-and-mortar stores led sales, with gold, FMCG, electronics, and garments showing strong growth. The festive season created 50 lakh jobs, lifted trader and consumer confidence, and highlighted India’s shift toward self-reliance under Aatmanirbhar Bharat
4. At WTO, India must counter China’s complaints against its PLI schemes: Experts
India faces a WTO challenge from China over its EV and PLI schemes, which Beijing claims unfairly favour domestic goods. China’s complaint targets three programmes under ‘Make in India’, citing violations of WTO rules. Indian experts argue the schemes aim to build local manufacturing, not discriminate. With no functioning WTO appellate body, China’s legal options are limited. India is urged to defend its policy space, especially for emerging tech sectors. If consultations fail, a dispute panel may be formed. Experts say India can invoke the ‘infant industry’ defence, though it requires meeting specific WTO conditions.
Published on October 22, 2025
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