OPINION, P10 WELL BEING Should you prioritise one nutrient over another when it comes to reducing your flab or building muscle? Page 6 The irrepressible MrTrump FE LINES Applying acoustic techniques for non-invasive weight loss Page 9 Sound waves can shrink fat PROTEIN VS FIBRE: WHICH ONE CARRIES MORE WEIGHT? ACROSS THE AISLE, P CHIDAMBARAM VOL.NO.XIII SL.NO.126 WORDS WORTH Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM MIDNIGHTTO MILLENNIUM CHENNAI/KOCHI 16 Pages, `12 FINANCIAL EXPRESS ON SUNDAY SUNDAY, MAY 18, 2025 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 , READ TO LEAD H Y D E R A B A D , K O C H I , K O L K A T A , ● About 50% zoomers SUPPLEMENTARY WORK take on side hustles ■ Globally, 45% Gen Zs, 36% millennials have paying side jobs for extra income 65% want to ■ In India, 62% GARIMA SADHWANI New Delhi, May 17 AYAN (NAME CHANGED), a Delhi resident who works in the media space,playsonlinepokereverysingle day. He insists it’s a game of skill, ratherthanluck.Consideringthathe makesbankoutofthegame,heoften jokes that poker is his full-time job, ■ SPOTLIGHT, P5 Gen Zs, 51% millennials held side jobs in 2022 40% opted for gigs due to inflation, 38% cited 'economic fallout from pandemic' as reasons for extra income be entrepreneurs, 49% want to be own bosses when planning side jobs and his actual job,onlya side hustle. Sidehustlesorpart-timejobsare notanewphenomenon.Inthe2024 ‘Gen Z and Millennial Survey’ pub- lishedbyDeloitte,globally45%Gen Zs and 36% millennials said they had “either a part- or full-time payingsidejobs,suchassellingproducts ANEES HUSSAIN Bengaluru, May 17 ■ LEISURE, P7 Reels of reality ● Entry of goods from land routes not allowed Around the world, filmmakers are allowing the camera’s gaze to document facts, from the US to Gaza, Ukraine to Chechnya Nifty IT index emerges top performer, up 14% 14.05 ■ Readymade garments only via Kolkata, Nhava Sheva sea ports ■ Consumer items not to enter Northeast via land routes INDIA ON SATURDAY decided to allow entry of readymade garments from Bangladesh only through Kolkata and Nhava Sheva sea ports and barred imports of several items through land transit posts in the Northeast, a move that is set to hit Dhaka’stradewithNewDelhi.Besides readymade garments, imports of plastics,wooden furniture, carbonated drinks, processed food items, fruitflavoureddrinks,cottonandcottonyardwastewill be affected.These items will not be allowed to enter India through land customs stations andcheckpostsinMeghalaya,Assam, Tripura and Mizoram,and Phulbari and Changrabandha in West Bengal, saidagovernmentnotification. The new restrictions for ■ Move response to Dhaka denying items from N-E entry through land Bangladeshi consumer goods are coming over five weeks after New Delhi ended a nearly five-year-old arrangement for trans-shipment of Bangladeshi export cargo to third countries via Indian airports and ports.Thenewrestrictionshavebeen imposedwith immediate effect. India's fresh restrictions on limiting access to Bangladeshi exports appears to be in response to Dhaka denying certain value added items fromtheNortheasttoenterthatcountrythroughthelandtransitpoints. Continued on Page 2 REJECTING ALLEGATIONS OF being a‘fugitive’,Byju Raveendran, co-founder of troubled edtech Byju’s, on Saturday said these labelswere part of a‘fake narrative’ and ‘malicious media campaign’ designed to seize control of his company. “These are narratives created in trying to take control of the company,” he said in a media podcast, adding that such characterisations have “destroyed value for all stakeholders”. Both co-founders Raveendran and wife Divya Gokulnath, how- BLOOMBERG May 17 TURKISH COMPANY ÇELEBI AviationsaidonSaturdayitis“fullycooperating”with Indian authorities and adhering to regulations after its ground handling and cargo warehouse operations were suspended Nifty Nifty IT Index 114.1 18.04 110 Continued on Page 2 People walk around artworks in the shape of hearts in Basel, Switzerland, ahead of the grand final of the 69th Eurovision Song Contest on Saturday. Broadcasters from 37 nations are participating in the international song competition, said to be the largest live music event in the world AP sulting/running their own businesses.Thetopreasontotakeonside jobs,byawidemargin,istheneedfor a secondary source of income.” As per Deloitte’s 2022 edition of this report,in India,62% Gen Zs and 51% millennials held side jobs.The number was higher than the global averageof43%GenZsand32%millennials.And it’s not just any work— people are actively picking up freelance gigs and part-time jobs in notfor-profit organisations, creating contentonsocialmediaplatforms,or monetisingtheirart-relatedhobbies. Continued on Page 2 Fake narratives were created to take control of the company ever,were optimistic of transforming the company’s dramatic downfall into an opportunity for revival. Referring to the myriad of legal challenges the company has faced in the past two years, Raveendran said: “Things like these can create post-traumatic stress disorder (PTSD), but for those who are mission-driven like us from the very beginning, we will use it to create post-traumatic growth.” In the interview shot in Dubai, where the family currently resides, Raveendran accused financial services firm Ernst & Young (EY), legal firm Khaitan & Co, and US-based lenders GLAS Trust, of colluding to orchestrate the collapse of his $22-billion edtech empire, and “forcefully take control of the company”. Continued on Page 2 due to national securityconcerns. “We are closely monitoring the situationandcooperatingfullywith therelevantauthorities,”Çelebisaid in a statement.“We are following the process diligently and within the legal framework, in close cooperation with the relevant local authorities. To date, all our opera- tions have been carried out in full compliance with regulations.” On Thursday, the Bureau of Civil Aviation Security said it has revoked the security clearance of Çelebi and itsassociatedcompanies“ongrounds related to national security”. Continued on Page 2 INDIAISWILLING to cut 100% tariffs on American goods, US President Donald Trump claimed once again, saying that a trade deal between New Delhi and Washington is coming soon.In an interview to Fox News, Trump, however, said he is not in a“rush”forthe proposed trade deal. Describing India as “one of the highest tariff nations in the world”, Trump said: “They make it almost impossible to do business.Do you know that they’re willing to cut 100% of their tariffs for the United States?” When asked if the deal with India is coming soon, Trump said,“That’ll come soon.I’m in no rush. Look, everybody wants to make a deal with us.” Hewent on to add:"South Korea wants to make a deal but I am not going to make deals with everybody. I am just going to set the limit.I'll make some deals,because you can't meetwith that manypeople.I've got 150 countries thatwant to make deals." Against the backdrop of the US president's repeated claim of India offering to drop all tariffs on American goods, external affairs minister S Jaishankar said in New Delhi on Thursday that "any trade deal has to be mutually beneficial". Continued on Page 2 Mahindra rides high on big SUV surge, overtakes rivals 300,854 FY25 Hyundai Alcazar September 2024,fell from 20,753 units in FY24 to 17,132 units in FY25.Similarly,MG’s Hector saw a steep fall from 27,435 units to 2,598 221,578 FY24 ors Direct competitors 46,645 Mahindra Bolero Neo, Scorpio, Thar Roxx, XUV700 3,300 MAHINDRA & MAHINDRA has surgedaheadofkeyrivalsintheautomotive market,on the back of growing popularity of its large SUVs. In April, the company outpaced both Hyundai andTata Motors to become India’s second-largest automaker, largelydrivenbyitsdominanceinthe largeSUVcategory,comprisingvehi- UNIT SALES 38,994 VIKRAM CHAUDHARY New Delhi, May 17 cles longerthan 4.4 metres. According to data from the Society of Indian Automobile Manufacturers (Siam),while the overall large SUV segment witnessed a decline in FY25, Mahindra bucked the trend with a 36% year-on-year growth in sales of its large SUV models. The company sold 300,854 units of its largeSUVsinFY25,upfrom221,578 units in FY24.These models include the Bolero Neo, Scorpio,Thar Roxx, andXUV700,allofwhichhavegained strong traction among consumers. In sharp contrast, Mahindra’s competitors in the large SUVspace witnessed a collective drop in sales by24%.Hyundai’sAlcazar,despite the launch of a refreshed model in 15,620 ● Races past Hyundai, Tata Motors in April to clinch No. 2 spot 27,435 ATELECOMMUNICATION REVOLUTION is rapidly unfolding across the globe and India is at the forefront of it under the leadership of PM Narendra Modi, said Union minister of communications Jyotiraditya Scindia on Saturday.He asserted that in the days to come, India will play a leading role in tailoring rules for 6G technology. “The rollout of 5G has taken place,and in just 22 months, the revolution has reached 82% of the population of 99% districts in the country.” May 16, 2025 Base: April 16, 2025 = 100 17,132 PRESS TRUST OF INDIA Gwalior, May 17 106.8 20,753 LTIMindtree Persistent Sys Tech Mahindra Coforge Nifty IT Index 105 100 FOUNDER, BYJU'S PRESS TRUST OF INDIA New York, May 17 115 ‘Indiatoleadin 6Gregulations’ P U N E Indiaisreadytocut 100%tariffs:Trump Nifty vs Nifty IT Index Apr 16, 2025 D E L H I , Cooperating with India: Celebi lower on a year-to-date (YTD) basis in 2025. Compiled by Kishor Kadam 95 or services online,flexible‘gig’work like ridesharing or food delivery, pursuing artistic ambitions, working in a restaurant or retail, or con- BYJU RAVEENDRAN, ● LOVE FOR MUSIC 120 21.11 TIT FOR TAT MUKESH JAGOTA New Delhi, May 17 31.49 N E W India imposes We may be broke,but not curbs on imports broken: Byju Raveendran fromBangladesh Health ailments, even deaths, decline in productivity, decreased economic activity— extreme heat is taking a heavy toll on our lives every summer. But when will it be recognised as a disaster? 1 month return in % M U M B A I , VOWS COMEBACK WITH BYJU'S 3.0 Warming bells ringing THE NIFTY IT index emerged as the top performer among all sectoral indices over the past month, buoyed by optimism surrounding the easing of US-China trade tariffs. The index surged 14.05% during this period, significantly outperforming the Nifty, which gained 6.75% over the same timeframe. However, despite this strong monthly performance, the Nifty IT index remains 12.38% L U C K N O W , ForGen Zs,juggling a job too manycomes easy WHAT'S INSIDE 23.56 C H E N N A I , Memoir meets history in Gopalkrishna Gandhi’s new book Page 4 MG Tata Harrier Jeep Hector and Safari Compass 15,620 units, while Tata’s Harrier and Safari dropped from 46,645 units to 38,994. Jeep Compass sales also dipped from 3,300 units to 2,598 units. Analysts attribute Mahindra’s success to a combination of its rugged SUV brand appeal and a wide pricing spectrum that makes itsvehiclesaccessibletoabroadcustomerbase.TharRoxx,forinstance, starts at `12.99 lakh and extends to `23.39 lakh for the premium variant. Scorpio-N is priced from `13.99 lakh to `25.15 lakh, while the XUV700 ranges from `14.49 lakh to `25.14 lakh. This pricing strategy allows Mahindra to cater to both budgetconscious buyers upgrading from compact SUVs and customers who might otherwise consider luxury models priced above `30 lakh.Ana- CHENNAI/KOCHI lysts suggest that feature-loaded top variants of Mahindra’s large SUVs offer exceptional value, thereby luring buyers away from more expensive offerings. This phenomenon is reflected in the shrinking sales of mass-market luxurySUVs.Jeep’sMeridiandropped from 2,106 units to 1,267 units,MG Gloster from 2,450 to 1,735, Skoda Kodiaqfrom1,887to1,663,Hyundai Tucson from 2,883 to 1,319, and Volkswagen Tiguan from 1,618 to just888unitsinFY25.EvenToyota,a traditionally strong player with its Fortuner and Hilux, saw sales fall from 37,996 to 36,689 units. Continued on Page 2