WORDS WORTH WELL BEING FE LINES NEW CHOLESTEROL PILL A GAME-CHANGER? The middle-life crisis For a segment that drives India’s economy, the middle class is severely stretched and strained Page 4 Recorder reimagined Devices today not only record but also transcribe conversations, identify speakers & more Page 8 How a new drug, earlier taken in the form of an injectable, might alleviate the LDL burden in India Page 9 VOL XXIII, NO. 16 LEISURE Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM QUICK BITES FIBREMAXXED HYDERABAD 16 Pages, `12 FINANCIAL EXPRESS ON SUNDAY SUNDAY, AUGUST 16, 2026 P U B L I S H E D F R O M : A H M E D A B A D , B E N G A L U R U , C H A N D I G A R H , C H E N N A I , ■ SPOTLIGHT, P5 Longevity comes of age Changing consumer habits and conversations around ageing, and a rapidly expanding wellness market leading to growing interest in living longer & healthier lives ■ LIVING, P7 How to assemble the perfect sleep kit From tech support to wellness products, an entire industry has woken up to give you a good night’s rest outflows of $2.3 billion and $859 million, respectively. — Compiled by Kishor Kadam Japan -2,335 South Korea -859 Thailand -299 Malaysia -215 Philippines -75 -50 Indonesia Vietnam India Sri Lanka 9 33 1,602 FPI net equity inflows in $ million in August so far 4,686 K O C H I , K O L K A T A , L U C K N O W , M U M B A I , PRIME MINISTER NARENDRA Modi on Saturday unveiled a trove of promises for India’s youth, offered more support for the unorganised sector and startups and reaffirmed the government’s commitment to making India a developed country by 2047. Addressing the nation from Red Fort on the 80th Independence Day, Modi elaborated on his government’s accomplishments, while promising faster economic reforms to strengthen the manufacturing sector, achieve scale and foster greater self-reliance on multiple fronts. He laid emphasis on energy security, especially in light of recent threats from external factors. Acknowledging that coaching for competitive exams has become “a huge burden formiddle-class families”, he said the government will provide free online coaching for various examinations to the youth.“We have digital public infrastructure, highly talented teachers and educators. By bringing these resources together, we will provide free coaching to the country’s young people and build an entire network for VAISHALI DAR New Delhi, August 15 THE UPCOMING FESTIVE season will not be an easy one forsweetsbrandsamidheightened food safety scrutiny and rising input costs. Brands such as Khoya Mithai, Ghantewala, Heritage Foodsaretighteningscrutinyin face of stricter regulatory focus on adulteration, hygiene and D E L H I , P U N E PM’sPROMISES NARENDRA MODI, PRIME MINISTER Wemustnotmakethecountry merelyamarketfortheworld; wehavetobecomeahub ofinnovation 100 GW Five-eight more semiconductor plants Wecannolongermove forwardwithsmalldreams. Wemustdreambig AI training for 10 million youth Lakhpati Didi target to double to nuclear power capacity by 2047 60 million Free online coaching for competitive exams Talent hunt to identify promising sportspersons SaptaDharaframework Manufacturing: Enable value chain for small components and large products, from design to manufacturing PTI PM Narendra Modi addresses the nation from Red Fort on 80th Independence Day on Saturday this purpose,”he said. He also announced a new scheme to train 10 million youngpeopleinartificialintelligence skills to equip them with the skills necessary to “lead in the world of AI”. Modi highlighted that semiconductors, AI, quantum technology,space,roboticsand data centres would drive the economy in the future,adding that India should not become merely a market for new technologies but an ‘innovation hub’.While three semiconductor manufacturing units are operational in the country, he said another 5-8 semiconductorplantsareexpectedtobeset up in the next 7-8 years. Modi’s 13th straight I-Day speech included a decisive response to the disaffection among the country’s youth against the backdrop of ongoing protests over exam paper leaks,and the flashpoint in the nationalcapitalwhichledtothe education minister’s resignation. The PM mentioned the word‘youth’21timesinhis75minute speech and referred to the‘young’23 times. Continued on Page 2 Agri&foodprocessing: Farmer access to global markets aided by FTAs, with cuisine, millets, etc Defence: Emerge as global supplier of nextgen defence tech like drones, hypersonic tech Tech & innovation: Create hub for emerging tech such as AI, quantum tech, space Green & blue economy: Globalscaleinrenewable energy, green hydrogen; fisheries, ocean tech Gati Shakti: High-speed inter-city connectivity via high speed rail; ports to be engines of growth Soft power: Tap yoga, ayurveda, handicrafts, culture, films, digital content, tourism »INSIDE« INDIA INC HAILS PM'S GROWTH VISION PAGE 2 Limitedwindow to disclose foreign assets and income Windfalltax cutondiesel, petroland ATFexports India closerto private nuclear power as draft rules issued THE CENTRAL GOVERNMENThasloweredthewindfall gains tax on exports of petrol, diesel, and aviation turbine fuel (ATF), effective Saturday, said the finance ministry in a notification, reports Shubham Rana in New Delhi. The windfall tax on diesel exports was cut to `24 per litre from `25.5 perlitre earlier.The duty on ATF comes down by `2.5 per litre to `19.5 per litre. Duty on petrol exports has also been reduced to nil from `3.5perlitre,asperthenotification.“There is no change in the existing excise duty rates on petrol and diesel cleared for domestic consumption,” the ministrysaid. The government first imposedexportdutiesondiesel and ATF on March 27 to ensure domestic availability of petroleumproductsbydisincentivising exports in the backdrop of the West Asia war and surge in globalenergyprices.TheCentre reviewstherateseveryfortnight basedoninternationalpricesof crude oil and petroleum products. Petrol exports were brought under the windfall-tax framework from May16. THE COUNTRY MOVED a step closer to opening its nuclear power sector to private investment,with the Department of Atomic Energy issuing draft rules to implement legislation thatendsdecadesofstatedominance of the industry. The rules,issued late Friday, come eight months after nuclearlawswereoverhauledto attractprivatefirmsandinvestment to the sector.In his Independence Day speech also, PM Narendra Modi said India aims THE GOVERNMENT HAS opened a one-time voluntary disclosure scheme for taxpayerstodeclaretheirundisclosed or undeclared foreign assets and income.Underthe Foreign Assets of SmallTaxpayers-Disclosure Scheme (FAST-DS), taxpayers can declare their undisclosed foreign bank accounts, overseas property, jewellery, artistic works, unquoted shares and securities,otherassetsorundisclosed foreign income on payment of a specified tax or fee. The Central Board of Direct Taxes(CBDT)onSaturdaynotified the rules for the scheme, which was announced in the UnionBudget2026byFinance MinisterNirmala Sitharaman. The scheme comes into effect from Sunday, with December 31 the last date for filing these declarations. “This scheme allows taxpayers with non-disclosure of foreign income and assets, up to specified thresholds to regularise their position through a simple, one-time process. BROAD CATEGORIES ■ First covers undisclosed assets outside India as on March 31, or foreign income not exceeding `1 crore ■ Second covers foreign assets with aggregate value of up to `5 crore ■ One-time scheme begins Sunday, ends Dec 31 Taxpayerswith qualifying foreign holdings should evaluate eligibility and act promptly,” said Richa Sawhney, partner, tax,Grant Thornton Bharat. Sitharaman in her Budget speech had said this scheme was aimed at addressing practical issues of small taxpayers suchasstudents,youngprofessionals, tech employees, relocated non-resident Indians. Continued on Page 2 AGENCIES New Delhi, August 15 Public feedback on draft rules sought by Sept 4 to start five nuclear reactors within six to sevenyears. Nuclearplantoperatorsneed tomaintainaninsurancepolicy, financialsecurityoracombina- food safety by State Food and Drug Administrations (FDAs) and the national regulator, the Food Safety and Standards Authorityof India (FSSAI). Expecting festive sales to grow 15-20%, driven by premium mithai, festive gifting and corporate orders, sweet brand Khoya Mithai has strengthened checks on rawmaterial sourcing and suppliers,batch-level quality checks, storageandtemperaturemonitoring, and sanitation and hygiene audits ahead of the festive season. “Our teams are regularly trained on food safetyand handlingprotocols.Festivedemand STRONGER CHECKLISTS ■ Emphasis on controlling quality of core ingredients and packaging ■ Particular attention to khoya, milk & dry fruits, among others ■ Storage and temperature monitoring, sanitation and hygiene audits ■ Sweets & namkeen brands to increase prices if raw material costs go up can increase production volumes, but our benchmarks remainstrong.Everyingredient that goes into our mithai has to meet quality standards throughouttheyearsothatconsumers do not worry about the safety of what they are eating,” said Sid Mathur, co-founder, KhoyaMithai,whichisavailable across India and Dubai. AtDelhi-basedGhantewala, tionofbothfornucleardamage, as perthe draft rules of the Sustainable Harnessing and Advancement of Nuclear Energy (SHANTI) Act, 2025. Released by the Department of Atomic Energy, the draft rules state that the financial security has to remain in place till the removal of all spent fuel from thestoragepoolconcerned.The Centre has to, once every five years, constitute a group of expertstoreviewthemaximum limits of an operator’s civil liabilityfornucleardamage. Continued on Page 2 3-horseraceintwo-wheelerspace VIKRAM CHAUDHARY New Delhi, August 15 FOR ALMOST TWO decades, Hero MotoCorp and Honda Motorcycle & Scooter India (HMSI) were the undisputed leaders of the two-wheeler market — with HMSI closely trailing Hero — while TVS and Bajaj, both distant, fought for the third position. But in the first half of this calendar year, TVS has nar- rowed the gap with Hero and HMSI, and has left Bajaj far behind. Data from the Society of Indian Automobile Manufacturers (SIAM) shows that TVS’s sales grew 27.15% to reach 2,265,240 units in H1CY26, compared to 1,781,500 units in H1CY25, outpacing Hero’s growth of 22.48% (3,161,788 units,up from 2,581,549 units). Continued on Page 2 This festive season to be testy for sweets makers ● Under pressure amid regulatory heat, rising costs N E W SHUBHAM RANA New Delhi, August 15 India second-biggest recipient of FPI inflows Taiwan H Y D E R A B A D , PMoffers7-stepplanforViksitBharat FE BUREAU New Delhi, August 15 Source: Bloomberg READ TO LEAD PUSHES FOR SELF-RELIANCE,ENERGY SECURITY,TECH PROWESS; BONANZAFORYOUTH WHAT'S INSIDE AFTER ATTRACTING $2.5 billion in FPI (foreign portfolio investors) equity inflows in July, India received another $1.6 billion in August so far, according to data sourced from Bloomberg. India was the second-largest recipient of FPI inflows during the period, after Taiwan, which attracted $4.7 billion. In contrast, Japan and South Korea recorded FPI How snacks are embracing the next wave of functional nutrition Page 6 which is also available online, the emphasis is on controlling the quality of core ingredients. “Wearecloselymonitoringconsumer preferences and market trends ahead of the festive season,” said Pari Jain, creative director, Ghantewala. “We strictly adhere to FSSAI guidelines and update our processes to align with the latest regulatory requirements.We are paying particular attention to khoya,milk,dryfruitsandother raw materials while managing production in controlled batches. This is significant becausefestivedemandcanput pressure on both manufacturing capacity and cold-chain HYDERABAD infrastructure,” added Jain. Leading sweets and namkeen chain Haldiram’s, which holdsanestimated33%market shareinIndia’sorganisedtraditionalsweets(mithai)market,is dependingonstandardisedproductionandpackagingtomaintain standards and quality control. “We are confident of delivering a strong percentage growth in festive sales over last yearaswebalancetraditionand evolving tastes,” said Mohit Upadhyay, marketing lead, Haldiram’s, which is now expanding its business in the US,theMiddleEastandEurope. Continued on Page 2 TVS CLOSING GAP Sales (in units) Hero MotoCorp HMSI TVS Motor Bajaj Auto H1CY25 H1CY26 2,581,549 3,161,788 2,417,299 2,958,638 1,781,500 2,265,240 1,030,440 1,208,459 At least 47 killed in Indonesia quakes AT LEAST 47 died after an earthquake of magnitude 7.7 struck off eastern Indonesia on Saturday. Hours later, another earthquake of magnitude 6.9 was reported. ■ PAGE 16 Will declare Hormuz US territory: Trump EVENAS Iran called on the US to accept defeat, President Donald Trump blastedTehran as ‘very evil’ and said ‘will be declaring the Hormuz Strait a territory of the US’. ■ PAGE 16