Newspaper Summary 090226

 The provided sources do not contain an article with the exact title "India inc delivers well in Q3." However, they do contain a detailed report regarding India's GDP growth and manufacturing sector performance for the third quarter (Q3), which highlights a surprising spurt in industrial activity.

Based on the news dated February 9, 2026, from the sources:

• GDP Growth Projections: India's economy was forecast to expand at a faster pace of 7.6% for the full year 2025-26, exceeding the government’s earlier expectations of 7-7.5%.
• Third Quarter Deceleration: Despite the optimistic full-year forecast, GDP growth actually decelerated to 7.3% in the quarter ended December (Q3), down from 7.7% in the previous quarter.
• Manufacturing "Surprise": The highlight of the Q3 performance was a significant spurt in the manufacturing sector, which registered a sharp pickup of 12.6% in the third quarter. Presiding over the full year 2025-26, manufacturing growth was estimated at 9.5%.
• Drivers of Growth: Economists noted that manufacturing was likely buoyed by a significant fall in input costs following the collapse of global commodity prices.
• Corporate Earnings (2026 Context): In a separate set of reports dated February 2026, Bharti Airtel reported that its consolidated Ebitda for the December quarter (Q3FY26) grew by 4.1% sequentially to ₹30,783 crore, driven by a 6.8% rise in its Africa mobile business and a 2.2% crawl in India's mobile services Ebitda. Additionally, mid-size IT firms such as Coforge, KPIT Technologies, and LTIMindtree reported that higher revenue per employee in the December quarter was being driven by AI-boosted productivity.

I-T Dept Seeks Views on Draft Rules and Forms

The Income Tax department invited inputs and suggestions from stakeholders on draft tax rules and forms under the new Income Tax Act, 2025, which is scheduled to come into effect on April 1.

• Consultative Process: The Central Board of Direct Taxes (CBDT) is seeking suggestions in four key categories:
  • Simplification of language.
  • Reduction of litigation.
  • Reduction of compliance burden.
  • Identification of redundant or obsolete rules and forms.
• Access: The proposed Income Tax Rules, 2026, and their corresponding forms have been uploaded to the official I-T website for review before their final notification. A utility has also been launched on the e-filing portal to facilitate these suggestions.

Sharp Hike in Securities Transaction Tax (STT)

While the draft I-T rules focus on simplification, the Budget 2026 (discussed in the same day's news) introduced a sharp hike in costs for short-term trading:

• Futures STT: The Securities Transaction Tax on futures was hiked from 0.02% to 0.05% on contract value—a 150% increase.
• Options STT: The tax on options was unified at 0.15% on both premium (up from 0.10%) and exercise (up from 0.125%).
• Market Impact: This hike is expected to disproportionately hit futures trading and significantly push up the breakeven levels for retail traders, making frequent short-term positions more expensive.

Other Related I-T Developments

• Tax Base Expansion: The I-T department is planning to scan GST data to widen the direct tax base. This move aims to bolster tax buoyancy following recent sharp tax rate cuts for individuals that moderated revenue growth in the current fiscal year.
• Compliance Strategy: The department is increasingly using a "nudge" approach, informing taxpayers about under-reported income and allowing them to revise returns voluntarily to enhance compliance.

The article titled "Critical minerals: Can US-led group end China’s grip?" is featured as a Mint Primer in the sources dated February 9, 2026. Citing India's scale of human talent, the US has invited India to join the Pax Silica initiative, which aims to challenge China's dominance in the critical minerals supply chain.

The details of the report are as follows:

What is the Pax Silica initiative?

Launched by the US in December 2025, Pax Silica aims to bring together countries across continents to collaborate on technology, mining, and processing of critical minerals such as lithium, rare earth elements, gallium, germanium, palladium, and indium. These minerals are vital for sectors ranging from artificial intelligence infrastructure to automobiles.

The initiative has nine signatories: Australia, Greece, Israel, Japan, Qatar, South Korea, Singapore, the UAE, and the UK. Non-signatory partners include Canada, Taiwan, the European Union, the Netherlands, and the OECD.

Why is the US pushing the alliance now?

The alliance is a response to China "flexing its muscles" on the critical minerals supply chain. Recent actions by China include:

• Imposing restrictions on the export of rare earth magnets.
• Banning collaborations on the latest lithium-ion battery technology.
• Halting chip exports to Europe following a conflict with the EU over the semiconductor company Nexperia.

Pax Silica continues Western efforts that began post-Covid 19 to diversify away from a China-dominant supply chain.

Why does China dominate the supply chain?

China's dominance began in the late '80s when it ramped up output while Western nations tightened environmental rules. Currently:

• China controls 90% of processing and 70% of refining for critical minerals.
• Chinese firms have secured stakes in mines across South America and Africa.
• China holds 69% of global lithium-ion battery capacity.

Where does India fit in the equation?

India lacks the required technology and capital to mine and process critical minerals. While India discovered lithium reserves in Jammu and Kashmir in 2023, progress has been slow. Although India holds the world’s fifth largest rare earth reserves, its mining and refining capabilities are limited. To address this, the government has launched a ₹34,300 crore National Critical Minerals Mission to increase domestic control over the supply chain.

Can Pax Silica challenge China?

Analysts believe it is unlikely to succeed in the short term, as mineral investments take years to materialize. However, a potential blueprint involves India serving as a manufacturing and demand hub, with Australia providing raw materials and the US and Japan offering technological support—a model similar to suggestions made under the Quad alliance. Success ultimately depends on the specific agreements reached between member nations.

The article titled "Permanent roles elusive; gigs may rise this summer," authored by Vaeshnavi Kasthuril and Devina Sengupta, reports on a subdued hiring outlook for India’s upcoming summer season.

Subdued Hiring Outlook

Recruitment companies are bracing for a subdued hiring season during the summer months, which typically represent India's second-largest hiring period after the festive season. The general sentiment in the recruitment industry is described as "sombre".

Key reasons for this stagnation include:

• Budget Impact: No significant changes in the recent Budget were seen as putting more money into the hands of consumers, which has directly impacted consumption patterns.
• Limited Permanent Roles: Companies in sectors like banking, consumer durables, and electronics with physical stores are largely limiting their hiring to replacements rather than expansion.
• Economic Factors: Private investment is not expected to significantly increase permanent jobs in the near term because consumption hasn't picked up enough.

Rise of the Gig Economy

While permanent roles remain hard to find, experts project a 10–20% jump in gig workforce hiring this summer compared to last year.

• Contractual Shift: Over the next six months, the market is likely to see more contractual and temporary hiring.
• Sector Drivers: Demand for gig workers is being driven by e-commerce and logistics players. Quick-commerce firms have already begun recruitment to handle the anticipated surge in sales.
• Event-Driven Growth: Major sporting events, specifically the IPL and the FIFA World Cup, are expected to be significant catalysts for sales and related gig hiring.

Regional and Channel Trends

• Tier-2 and Tier-3 Focus: Demand is once again expected to be driven by tier-2 and tier-3 cities. Last year, these regions saw a 15–20% rise in hiring across the consumer, banking, and logistics sectors.
• Online vs. Offline: While store footfalls remain uneven, online platforms are expected to perform marginally better than they did last year.
• Tiered Recovery: Tier-3 and tier-4 cities have shown some improvement in footfall, whereas tier-1 and tier-2 markets remain in "recovery mode".

In summary, the article indicates that until consumption improves and new labour codes are fully integrated, the job market will lean heavily on temporary and gig roles to meet seasonal demand.

The article titled "China is going all-in to beat the U.S. on humanoid robots," authored by Yoko Kubota and Raffaele Huang, details China's aggressive mobilization to dominate the emerging humanoid robotics industry.

The Competitive Landscape

• Musk’s Warning: Elon Musk has stated that Tesla’s Optimus humanoid robot could create a new mega-industry, but he warned investors that "China is an ass-kicker, next level" and could ultimately own the sector.
• Strategic Sector: Much like its strategy with electric vehicles (EVs), China is leveraging state support, deep supply chains, and rapid commercialization to build this new strategic sector.
• U.S. Response: The momentum in China is a major concern for U.S. policymakers; the White House is reportedly working on an executive order to boost the American robotics industry. While the U.S. still leads in foundational AI models (the "brains" of the robots), American firms like Tesla may still rely on Chinese suppliers for mass-production components like joints and motors.

China's Industry Growth

• Company Surge: More than 140 humanoid-robotics companies have sprouted up across China, particularly in tech hubs like Shenzhen and Suzhou.
• Supply Chain Advantage: Chinese firms can source roughly 80% of their components—such as sensors and batteries—within a one-hour radius. This proximity allows for rapid design changes and lower costs compared to global competitors.
• Order Volume: Chinese makers announced orders worth more than $300 million in the second half of 2025 alone.

Government Support and Policy

• Beijing’s Direction: The central government has identified “embodied AI”—the fusion of robotics and artificial intelligence—as a key industrial priority.
• Incentives: Local governments provide significant subsidies, including paying roughly 10% of the robot's price for buyers and offering free office space for startups for up to three years.
• Robot Valleys: In Shenzhen, home to tech giants like Tencent and BYD, a “Robot Valley” is emerging, supported by a $1.4 billion fund focused on AI and robotics. Beijing has established a similar zone with $14 billion in supporting funds.

Real-Life Deployments

China is actively introducing robots into factories, hotels, offices, and public spaces to collect data and build a market.

• Commercial Use: AI Robotics’ general-purpose humanoid, AlphaBot, is already being used in LCD television factories and for airport services.
• Consumer Use: UniX AI, founded by a Michigan and Yale alumnus, has deployed hundreds of robots in hotels. These robots, starting at $12,600, can perform tasks like adjusting bedsheets, picking up trash, and starting laundry cycles.
• Public Services: Government agencies are deploying robots in museums and as "robocops" for traffic control.

Risks and Standardization

• Bubble Concerns: Skeptics warn that the industry may be a bubble with a lot of hype but few clear use cases. To avoid the overcapacity issues that hit the EV market, the Chinese government is drafting technical standards to weed out unqualified players and accelerate official adoption.
• Hype vs. Reality: While some robots have performed well—one completed a 13-mile humanoid marathon in under three hours—others reportedly "sat down and refused to move" during the same event.

The article titled "Adequate safeguards for India in deal with US: Goyal," with the sub-header "The commerce minister says that the trade pact with the US will ‘ultimately help our farmers’," reports on the protections built into the interim trade agreement between India and the United States.

Protection for Domestic Interests

Commerce and industry minister Piyush Goyal stated that adequate safeguards are in place within the trade agreement to protect farmers and the domestic industry from any significant surge in imports. He emphasized that the deal would "ultimately help our farmers," who currently export between $50 billion and $55 billion worth of agricultural and fish products.

Competitive Advantage and Tariffs

Goyal noted that Indian goods would gain a competitive advantage in the American market due to the 18% tariff. He pointed out that competitor nations like China face tariffs as high as 35%, while other countries are subject to levies exceeding 19%.

Negotiation Context

Addressing concerns about the brevity of the announcement, Goyal explained that the current India-US joint statement is a two-page framework. He compared it to the trade deal with the European Union (EU), which involved a much larger set of documents. He described the current state of the deal as a "work in progress," noting that safeguards are a normal part of any negotiation and that both nations would want protections if their markets were flooded.

Specific Sector Safeguards

The minister highlighted that both countries have sensitivities regarding specific products and have implemented safeguards accordingly.

• Excluded Items: India has not granted any duty concessions for dairy products, genetically modified (GM) products, meat, poultry, soya meal, or corn.
• Calibrated Access: India has provided some market access for specific pulses and lentils that it already imports.
• Give and Take: Goyal described the deal as a "give and take," asking, "if I don’t give anything, how will I open the market for my farmers in the US?".

Impact on Consumers and Trade Volume

• Consumer Benefits: Regarding dry fruits, Goyal noted that India already imports $1 billion worth of tree nuts from the US out of a total $3.5 billion import bill. He stated that cheaper imports benefit the 1.4 billion Indian consumers, who are the largest stakeholders.
• Future Trade Projections: Goyal expressed confidence that India could purchase $500 billion worth of goods from the US over the next five years. He suggested India could shift $300 billion of current imports from other countries to the US, provided US goods are competitive.

The article concludes by noting that India and the US officially announced the finalization of the framework for the first phase of their bilateral trade agreement on Saturday.

AI to hunt emerging pathogens in India

The AI mission will offer early warnings and real-time support to stop outbreaks from becoming pandemics

By Priyanka Sharma NEW DELHI

Facing a surge in zoonotic threats, India is set to use artificial intelligence (AI) to detect emerging pathogens that jump from animals to humans. This initiative, led by the Indian Council of Medical Research (ICMR) under the National One Health Mission (NOHM), marks a significant shift from reactive reporting to predictive surveillance.

Targeted Threats and Context

The project is designed to target a broad spectrum of viral threats, including:

• Nipah virus
• Zika
• Avian Influenza (H5N1)
• Kyasanur Forest Disease (monkey fever)

The urgency for this mission is driven by rising novel pathogen threats; in 2025, India reported 41 bird flu outbreaks across 10 states, including Maharashtra and Odisha. These outbreaks primarily affected poultry, wild birds, and mammals such as tigers, and crucially, the virus caused two human fatalities.

How the AI System Works

The new framework aims to enhance integrated surveillance to prevent local outbreaks from escalating into global pandemics. Key features of the system include:

• Early Signal Detection: Utilizing sophisticated data analytics and predictive modelling to identify threats before they spread.
• Real-Time Support: Providing decision support and automated disease surveillance for rapid response coordination.
• Data Management: The government is expanding its digital and physical infrastructure to manage high-resolution health data.

Currently, the Integrated Health Information Platform already provides a unified, near-real-time reporting system across all 36 states and Union territories. While the mission is moving forward, official queries sent to the ICMR and the health ministry regarding specific deployment timelines remained unanswered at the time of the report.

Upstox looks beyond broking for growth

Regulator’s clampdown has clouded broking industry’s growth outlook

By Mansi Verma MUMBAI

Tiger Global-backed Upstox has sought permits to offer non-bank lending, asset management, and other financial services as the regulator’s prolonged clampdown on retail frenzy in futures and options (F&O) has clouded the broking industry’s growth outlook.

Profitability and High-Value Focus

While growth almost flattened in the fiscal year ended March 2025 (FY25), Upstox expects profits to double in the ongoing (FY26) and next (FY27) financial years, according to co-founder and CEO Ravi Kumar.

The sharp improvement in profitability for India’s fourth-largest broker by clients is being driven by a focus on high-value, active traders. This shift has lifted the average revenue per active user (Arpu) by over 40%, with retention rates among these traders reaching almost 90%.

In FY26, this focus has driven significant financial gains:

• Ebitda has grown by almost 120% compared to last year.
• PAT (Profit After Tax) is tracking at 2.25x to 2.3x of last year’s levels.
• For context, in FY25, profit stood at ₹215 crore on revenue of approximately ₹1,208 crore.

Regulatory "Speed Bumps"

The online broking industry has been grappling with a clampdown by the Securities and Exchange Board of India (Sebi) and the finance ministry against speculative trading in equities and derivatives. Since 2024, Sebi has tightened risk norms, raised margins, and limited retail access to high-risk products.

The pressure increased further following a hike in the securities transaction tax (STT) on derivatives trades in the recent Budget. Despite these challenges, Kumar stated that Sebi "generally does the right thing by putting these speed bumps" as it helps the industry long-term and structurally. Upstox is now operating on the assumption that regulatory scrutiny will intensify rather than reverse.

A Full-Stack Future

Following the lead of many fintech firms, Upstox aims to become a full-stack financial institution. It is aggressively investing in leadership and distribution to scale new revenue streams:

• Lending and Asset Management: Permits have been sought to enter these spaces.
• Insurance: This is in the early stages with no meaningful revenue yet, but the company plans to scale the business over the next 12–18 months.

Public Listing

While a public listing is on the cards, Upstox has not yet disclosed a specific timeline. Kumar noted that remaining private currently provides the flexibility to experiment with new business lines without the immediate pressure of short-term market expectations.

Airtel’s struggle to please Street

By Manish Joshi

Bharti Airtel Ltd’s consolidated Ebitda for the December quarter (Q3FY26) grew by 4.1% sequentially to ₹30,783 crore. While the Africa mobile business Ebitda rose at a faster rate of 6.8% in constant currency, India's mobile services Ebitda merely crawled up by 2.2% quarter-on-quarter (q-o-q).

Performance in Africa vs. India

The divergence in growth between the two regions was evident in their user bases:

• User Growth: Africa’s user base growth stood at 3.2%, significantly higher than India’s 1.2%.
• Data Potential: The data customer base in Africa rose by 4.7%. Since data Arpu ($2.70) is much higher than voice Arpu ($1.10), increasing this segment offers a clear path to higher revenue.
• Usage Gap: Africa's data usage is currently only one-third of India's 30 GB per month, suggesting substantial room for upward movement, though currency devaluation remains a significant risk for the African business.

Signs of Saturation in India

In the domestic market, Airtel's mobile Arpu growth was described as "soft," rising just 1.1% q-o-q to ₹259. Analysts noted that premiumization—such as migration from prepaid to postpaid—had a limited effect in the absence of a tariff hike.

Further challenges in lifting Arpu include:

• Pricing Hurdles: Management shared that implementing differential pricing for 5G over 4G is difficult, as it could confuse customers regarding the distinction between 5G and 4G data usage.
• AI Integration: While Bharti is partnering with Perplexity AI to drive new revenue shares, it is expected to be a "long haul" before Indian mobile users embrace paid AI plans at scale.

Expansion into Data Centres

Beyond mobile services, Bharti is shifting its focus toward data centres, aiming to grow its market share from 12% to 25% over the next three to four years.

To fund this inorganic growth, the company has significant room to increase leverage. Its net-debt-to-Ebitda is currently just 1.2x (factoring in ₹16,000 crore from a rights issue), and analysts suggest it could stretch to 2x to pursue opportunities. However, management stated they are not currently thinking along those lines.

Investor Outlook

The "Street" remains divided on what would most please investors: an aggressive growth strategy using higher leverage or an increase in dividend payouts, given the ₹50,000 crore in annual free cash flow generated by the Indian mobile business.

The competitive landscape is also set to shift with Reliance Jio’s upcoming listing, which will provide investors with another profitable, pure-play telecom option. This may diminish Bharti Airtel’s current "scarcity premium" as the sole listed telecom stock. Currently, Bharti's stock valuation at an EV/Ebitda of 10x is not considered expensive given the near-duopoly status of the Indian telecom industry.

Green power reaches a choke point, and the search is on for a way out

Solar and wind farms saw sweeping production cuts as renewable capacity growth outpaced the system’s ability to absorb power efficiently.

By Rituraj Baruah NEW DELHI

The Centre has stepped in to resolve a growing “green power quagmire” characterized by surplus production and insufficient transmission. This move follows sweeping production cuts at solar and wind farms in Rajasthan and Gujarat, two of India’s primary green power hubs. While these curtailments offer a temporary fix to keep the national grid stable, they result in steep losses for developers and threaten to derail India’s ambitious green energy trajectory.

The Scale of Curtailment

According to Ember, a UK-based energy transition think tank, the recent curtailments were equivalent to 18% of the average monthly solar generation (approximately 13 terawatt hours). This led to compensation payouts of ₹575–690 crore to developers. However, developers often still incur losses as compensation from reserve funds rarely covers the full extent of the financial impact.

Root Causes: Transmission and Storage Lag

Experts point to a fundamental mismatch in the sector's growth:

• Infrastructure Gap: While India has rapidly expanded solar and wind projects, the transmission capacity required to evacuate that power and the necessary battery storage mechanisms are not yet fully in place.
• System Inflexibility: Neerav Nanavati, CEO of BluPine Energy, noted that curtailment occurs when clean energy is backed down during predictable high-generation periods, signaling a shortfall in system flexibility rather than a lack of generation.
• Thermal Power Reliance: Because green power is currently intermittent, many state power distributors are turning back to more expensive but reliable thermal power to ensure stability.

Technical Challenges: Oscillations

The Ministry of New and Renewable Energy (MNRE) has tasked the Central Electricity Authority (CEA) and the Grid Controller of India Ltd (Grid India) to conduct a joint study on reducing oscillations in the power system. Oscillations—variations in voltage, current, power, and frequency—can amplify during times of excess production, leading to grid instability or equipment damage.

Market and Industry Impact

The lack of infrastructure has created a difficult market environment:

• Revenue Loss: Varchasvi Gagal, MD and CEO of Datta Power Infra, stated that curtailment results in direct revenue loss and reduces the internal rate of return (IRR) for projects.
• PPA Deficit: Approximately 43GW of green power capacity, involving a proposed investment of ₹2.1 trillion, currently lacks power purchase agreements (PPAs) and power supply agreements (PSAs).
• Price Disparity: Discoms are reportedly selling renewable energy on electricity exchanges at prices lower than their purchase cost.

The Path Forward

Industry leaders like Akshay Hiranandani, CEO of Serentica Renewables, emphasize that market-based dispatch and storage integration are essential to reduce curtailment risk and lower system costs in the long run. Without better transmission planning and discom reforms, curtailment will likely continue to slow down investment and push up renewable tariffs.

India currently has a total renewable energy capacity of 258GW, with solar accounting for 135.80GW and wind for 54.51GW. Success in the next phase of this transition will depend on how quickly flexibility is embedded into the national power system.

The Dow, the uncool index, has its moment in the sun

The Dow industrials reached 50,000 this past week. The younger crowd is unimpressed.

By Hannah Erin Lang

The article begins with an anecdote about Amit Kukreja, a 28-year-old trader and content creator, who was caught off guard during a livestream when a social media post from President Trump celebrated stocks hitting all-time highs. While the S&P 500 and Nasdaq were not at records, Kukreja and his audience soon realized the president was referring to the Dow Jones Industrial Average.

A New Milestone

The market’s "throwback benchmark" recently crossed the 50,000 threshold for the first time, less than two years after hitting 40,000. The Dow—a collection of 30 sizable, industry-spanning blue-chip companies such as Walmart, Boeing, and McDonald’s—has been on a hot streak, outperforming other major indexes over several months and into early 2026.

The Generational Divide

Despite this performance, a new generation of individual investors remains largely unimpressed, viewing the index as a "stodgy" relic of the past.

• Irrelevance: Kukreja notes that the Dow is "just not on people’s radar" and is rarely discussed among his peers.
• "Cool" Factor: Younger investors, who grew up trading on smartphones, find the Dow's "real economy" stocks unexciting compared to the Nasdaq's high-growth tech firms. Content creator Austin Hankwitz remarked that "Coca-Cola was cool like 30 years ago," suggesting the index shows "what was versus what is".
• Representation Concerns: 22-year-old bank teller Shane Greenlee argued that such a small group of stocks could never represent the broader market and seems most popular with people aged "60 and up".

A Broadening Market Rally

While the S&P 500 and Nasdaq are heavily concentrated in technology—with IT and communication services accounting for 43% of the S&P 500—the Dow offers exposure to different sectors. In 2026, investors have begun betting on a broadening rally, retreating from tech giants into materials, consumer staples, and industrials, all of which outperformed the other major indexes in the past month.

Historical Reliability and Structure

Skeptics decry the Dow’s concentration and unique price-weighted structure, which can exclude fast-growing names. However, supporters point out its long-term utility:

• Historical Comparison: The Dow allows for a direct comparison of stock-market performance over the past 130 years, surviving the Great Depression, two world wars, and multiple financial crises.
• Updates: The index is updated intermittently; a significant recent change was swapping Intel for Nvidia in 2024.
• Balance: Ed Yardeni, president of Yardeni Research, noted that during the tech bubble of the late 1990s, many questioned the Dow’s relevance just before the Nasdaq cratered by 78%, leading some to wish they had been invested in something more balanced like the Dow.

Though it may not be the first ticker younger traders click on in the morning, the Dow remains a bastion of balance and relative stability in a market that many analysts believe has become overly concentrated in a single industry.

Takaichi forges a stunning win in Japan’s snap polls

Takaichi was projected to deliver as many as 328 of the 465 seats for her party in the lower house.

Reuters TOKYO

Japanese Prime Minister Sanae Takaichi’s coalition swept to a landslide election win on Sunday, paving the way for her tax cuts that have spooked financial markets and military spending aimed at countering China. The conservative Takaichi, Japan’s first female leader who says she is inspired by Britain’s “Iron Lady” Margaret Thatcher, was projected to deliver as many as 328 of the 465 seats in parliament’s lower house for her Liberal Democratic Party (LDP).

The LDP alone had already sailed past the 233 seats needed for a majority less than two hours after polls closed. With its coalition partner, the Japan Innovation Party, known as Ishin, she is certain to deliver a supermajority that would ease her legislative agenda, public broadcaster NHK projected.

“This election involved major policy shifts—particularly a major shift in economic and fiscal policy, as well as strengthening security policy,” Takaichi said in a television interview as the results rolled in. “These are policies that have drawn a great deal of opposition. If we have received the public’s support, then we truly must tackle these issues with all our strength”.

Takaichi, 64, called the rare winter snap election to capitalize on her buoyant personal approval ratings since she was elevated to lead the long-ruling LDP late last year. Voters have been drawn to her straight-talking, hardworking image, but her nationalistic leanings and emphasis on security have strained ties with powerful neighbour China, while her promises of tax cuts have rattled financial markets.

The LDP, which has ruled for almost all of Japan’s postwar history, had lost control of both houses in elections over the past 15 months under Takaichi’s predecessor, Shigeru Ishiba. Takaichi has managed to turn around the party’s fortunes in part by building a sizable following on social media and striking a chord with younger voters.

Takaichi’s strong mandate could accelerate her plans to bolster Japan’s defences, further angering Beijing, which has cast her as attempting to revive its militaristic past.

How Startup Singam Broke the Lock

A Tamil pitch show is hoping to speed up funding for startups you wouldn’t have heard of.

By Pankaj Mishra CHENNAI

The article begins with the story of Kannan Hari, an IT professional who quit his high-paying job to run Palm Era, a brand focused on palm jaggery and natural sweeteners. Hari’s journey into entrepreneurship was sparked in 2021 when he witnessed palm trees being cut down in his home village because the fallen fruit attracted wild pigs. He innovated by turning traditional palm jaggery, which typically clumps and melts, into a fine granular powder and focused on premium packaging to make it suitable for "elite people’s plates".

The Premise of Startup Singam

Startup Singam is a Tamil pitch show airing on Star Vijay (Vijay TV) and streaming on JioHotstar. Its central premise is that while Tamil Nadu is rich in entrepreneurship, it lacks capital that reliably shows up where the founders are. Co-founder Balachandar R. (Bala) frames the show as a solution to a marketplace failure, where startups and investors struggle to find each other.

The Role of Early Backers

The show was initially backed by Kumar Vembu, founder of GoFrugal Technologies, who invested in October 2024 to speed up funding for founders stalled between meetings and term sheets. Vembu noted that the show quickly became a household habit in Tamil Nadu, engaging even viewers who typically preferred TV serials.

Kannan Hari’s Experience and the Show’s Impact

Initially skeptical that an email from the show was spam, Hari applied after being nudged by the state's startup team. While an on-air commitment of ₹1 crore did not initially close due to harvest season delays, the visibility from the broadcast was transformative.

• Sales Surge: On the day his episode aired in March 2025, monthly sales—which usually hovered around ₹3–4 lakh—touched ₹7 lakh.
• Viral Visibility: A clip of his pitch on Instagram garnered over two million views by the following morning.
• Growth: By January 2026, Palm Era’s monthly revenue reached ₹50 lakh, and Hari successfully closed an outside funding round with an impact investor.

Beyond Investment: Visibility and Language

For many founders, the show offers benefits beyond capital:

• Deyga: Arthi Raguram, founder of the profitable skincare brand Deyga, joined the show not for capital but for visibility and customer awareness.
• Save Mom: Senthilkumar Murugesan, founder of the maternal care platform Save Mom, used the show to pitch in Tamil for the first time, helping his parents finally understand his work.
• Negotiation Power: The attention from the show changes how retailers, landlords, and distributors negotiate with these small brands.

The Numbers of Season 1

There is often a gap between television commitments and actual capital deployment. Season 1 generated approximately ₹45–50 crore in on-air commitments, with about ₹24 crore actually deployed following due diligence and final terms.

“The Locked Door”: Preethi Shashikumar’s Story

The article highlights the story of Preethi Shashikumar, who lost her first company after a co-founder took control of her brand's login and password. She eventually built a successful shapewear label, which she expanded into maternity dresses by listening to her customers. For Shashikumar, Startup Singam served as a "front door" to investor communities, as she was unable to join Shark Tank India because she did not speak Hindi.

Conclusion: Demystifying the Process

The article concludes that while capital is a bottleneck, the first real hurdle for many founders is legitimacy. Startup Singam aims to demystify the process of dealing with investors so that the next time a founder hits a "locked door," they will at least know what the lock is called.