OPINION, P10 WELL BEING ACROSS THE AISLE, P CHIDAMBARAM Why it is crucial to read and understand product labels to know what goes into the making of pet foods Page 9 FE LINES DECODING DIETS FOR YOUR FURRY FRIENDS Mitigating costs of start-stop war VOL.NO.XIII SL.NO.176 Tech tools for women’s safety Products no longer restricted to pepper spray, pocket knives Page 6 SPOTLIGHT Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM THE SUMMER TABLE CHENNAI/KOCHI FINANCIAL EXPRESS ON SUNDAY SUNDAY, MAY 3, 2026 14 Pages, `12 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 , COMING SOON ● Stellar line-up of global films, but Bollywood tepid INDIAN CINEMAS ARE transporting audiences straight to Hollywood this summer,with a slateofbig-ticketreleaseslined up,startingwithFriday’srelease The DevilWears Prada 2. Next in line are the much- How inclusion is becoming par for the course at public events, with interpretation services also growing to match the needs of the deaf community A mournful chronicle of the devastation and tragedy of Gaza Cash market turnover hits 21-month high THE DAILYAVERAGE turnover in NSE’s cash market segment stood at `1.35 lakh crore in April, the highest in 21 months (since August 2024). NSE’s average daily cash turnover rose 7.6% month-on-month, while its total turnover for April increased 13% to `26.94 lakh crore. In contrast, the BSE reported a modest 5% rise in total cash market turnover to `1.86 lakh crore, while its average daily turnover in the cash segment declined marginally by 0.6% to `9,323 crore. — Compiled by Kishor Kadam 9,323 9,375 8,692 9,053 7,065 8,296 7,662 7,743 9,172 7,189 Cash market average daily turnover (in ` crore) BSE 7,944 Moana JULY 17 The Odyssey MAY 22 2025 Apr 1,34,709 Mar 1,25,169 Feb 1,14,647 Jan 1,19,560 Dec 94,496 Nov 1,04,576 Oct 98,740 Sep 98,312 Aug 93,545 Jul 94,995 NSE 2026 GOING GLOBAL VIKRAM CHAUDHARY New Delhi, May 2 The strip of blood Jun 1,13,440 L U C K N O W , JULY 10 anticipated Star Wars: The Mandalorian and Grogu, Spider-Man: Brand New Day and Toy Story 5. ● Star export of FY27 likely to be eVitara ■ WORDS WORTH, P4 7,536 K O L K A T A , JUNE 19 JULY 1 Toy Story 5 Minions & Monsters Thisyear’s summerline-up leansheavilyonfranchisesand nostalgia—genres that traditionally perform well in India. JULY 31 Spider-Man: Brand New Day Titles like Spider-Man: Brand New Day are expected to lead the box office,while The MandalorianandGroguarelikelyto World taking a shine to made-in-India cars Signs of hope May 1,11,075 K O C H I , COST-EFFECTIVE WITH DIP IN RUPEE ■ LEISURE, P7 5,943 H Y D E R A B A D , Star Wars: The Mandalorian and Grogu VAISHALI DAR New Delhi, May 2 Apr 1,00,329 READ TO LEAD 72,209 CAR EXPORTS FROMIndiaare on an upward path and set to cross the million-unit mark in FY27,thanks in part to depreciation of the rupee, which has enhancedthecostcompetitiveness of made-in-India cars in most global markets.Passenger vehicle exports from India increasedfrom770,394unitsin FY25to905,200unitsinFY26. Leading the pack are the Fronx, Swift, Baleno and Dzire. TheFY26model-wisesalesdata sourced from the industry revealstheMarutiSuzukiFronx was India’s top-selling model with exports of 90,186 units, followed by the Jimny (72,209 units), and Hyundai Verna Sales in units (FY26) 56,704 Nissan Magnite 53,661 Maruti Suzuki Swift Hyundai Grand i10 SINGAPORE AIRLINES EXECUTIVE Vinod Kannan and Air India’s commercial head Nipun Aggarwal are the two frontrunners to become the new CEO of Air India, two sourceswith direct knowledge of the matter said. The development suggests the search for a new CEO to lead the country’s secondlargest airline is nearing completion, after New Zealander Campbell Wilson said last month he had resigned as the airline faced persistent losses and regulatory scrutiny. The board of Tata Sons, the majorityowneroftheairline,is N E W D E L H I , P U N E draw strong interest in metro cities. Family-oriented films such as Toy Story 5, Minions & Monsters, and Moana (live- Continued on Page 2 LIC CAP STAYS AT 20% Govtnotifies100% insuranceFDIunder automatic route FE BUREAU Chennai, May 2 WELCOMING INVESTORS THE UNITED States government is warning shipping companies that they could face sanctions for making payments to Iran to safely pass through the Strait of Hormuz. ■ PAGE 14 WAsiawarmight double CAD: CEA 40,979 Maruti Suzuki Jimny Maruti Suzuki Dzire 40,751 Hyundai Aura 90,186 40,210 Maruti Suzuki Fronx (63,044 units). Other top exports were Nissan Magnite (56,704 units), Maruti Swift (53,661 units),Hyundai Grand i10(53,181units),andMaruti’s Baleno (41,032 units), Dzire (40,979 units), and S-Presso (40,210 units). And, while the Fronx is expected to stay at the top in Maruti Suzuki S-Presso FY27 as well—with the anticipated launch of the Fronx hybrid in India, and its consequent exports—the pecking ordermight change,with an EV getting into the top 10 for the first time.Industry experts told FEthatwhileFronxwilllikelysee an even bigger boost once its anticipated hybrid version REUTERS May 2 Vehicles drive past a billboard with a graphic showing the Strait of Hormuz and sewn lips of US President Donald Trump in downtown Tehran, Iran, on Saturday AP Last month the US imposed its own blockade of ships from Iranian ports. Trump said on Friday he was “not satisfied” with Iran’s VINOD KANNAN ■ Currently senior vice-president of sales and marketing at Singapore Airlines ■ Was previously CEO of Vistara NIPUN AGGARWAL ■ Currently Air India’s commercial head ■ Played key role in transformation of several Tata Group companies may emerge as the favourite. A spokesperson for Tata Sons did not respond to a request forcomment.AirIndia Marketing campaigns, experiential promotions, social media push to drive buzz, footfalls during summer months action) are expected to boost daytime occupancy. The momentum is set to continue beyond summer, with Avengers: Doomsday, Dune: Part Three,and Christopher Nolan’s epic The Odyssey, which are anticipated to strengthen Hollywood’s performance in the later half of the year. In contrast, Bollywood is having a relaxed summer,with no bigstar films to release in the next few months. USwarnsof sanctionsover Hormuztolls Maruti Suzuki Baleno Hyundai Verna THE TWO FRONTRUNNERS discussing both names, one of the sources said.No final decision has been taken and it is possible another candidate 25% Contribution of Hollywood films to Indian cineplexes’ annual box-office collections THE GOVERNMENT ON Saturday notified 100% foreign direct investment (FDI) in the insurance sector under the automatic route, allowing greater participation from global investors and eliminating the need foran Indian joint venture partner to do insurance business in India. Total foreign investment in Indian insurance companies, including by portfolio investors, is permitted up to 100% of the paid-up equity capital and is allowed under the automatic route,subject to approval and verification by the Insurance Regulatory and Development Authority of India (Irdai),as per the gazette notification. However, foreign investment in Life Insurance Corporation of India (LIC) will continuetoremaincappedat20% under the automatic route, keeping the state-run insurer under a separate framework. “Foreign investment in LIC shall be subject to compliance with the provisions of the Life Insurance Corporation Act, 1956 (31 of 1956), and such other provisions of the Insur- 41,032 63,044 Iran offer rejected byTrump AN IRANIAN PROPOSAL so far rejected by US President Donald Trump would open shipping in the Strait of Hormuz and end the US blockade of Iran while leaving talks on Iran’s nuclear programme for later, a senior Iranian official said on Saturday. Four weeks since the United States and Israel suspended their bombing campaign against Iran, no deal has been reached to end a war that has caused the biggest disruption ever to global energy supplies. Iran has been blocking nearly all shipping from the Gulf apart from its own for more than two months. 53,181 latest proposal, without spelling out in detail which elements he opposes. Continued on Page 2 arrives,the export of the year is going to be the eVitara.“From August 2025 onwards, Maruti Suzuki has exported more than 25,000unitsoftheeVitarato44 countries,with a primary focus on Europe, the UK, and Japan,” an industryanalyst said. Continued on Page 2 India-linked tankerexits Hormuz AN INDIA-LINKED tanker laden with 45,000 tonne of LPG has managed to transit the Strait of Hormuz. ■ PAGE 14 SIA’s Kannan, insider Aggarwal in Air India CEO race REUTERS New Delhi, May 2 M U M B A I , It’s a Hollywood summer in Indian cinemas WHAT'S INSIDE Source: NSE, BSE How the season of sun turns food into a celebration of fun & function Page 5 declined to comment. Aggarwal and Kannan also did not respond to text messages seeking comment. Singapore Airlines holds a roughly 25% stake in Air India, with the rest owned by Tata Sons. The choice of a new CEO comes at a crucial time for Air India, which is grappling with heavylosses,heightened regulatory scrutiny after a deadly crash lastyear,and operational disruptions from the Iran war, which has driven up costs and compounded the effects of Pakistan’s airspace ban. Pakistan banned Indian carriers from its airspace last Aprilfollowingmilitarytension between the two neighbours. Kannan, who currently serves as seniorvice-president of sales and marketing at SingaporeAirlines,was previously the CEO of Vistara, the former jointventurebetweenTataand Singapore Airlines that was merged into Air India. An aviation veteran, Kannan began his career with Singapore Airlines in 2001 and has since held a range of roles across the airline. Aggarwal joined Air India in January 2022 after the loss-making airline was taken over by Tata Sons from the Indian government. He has played a key role in the transformation of several Tata Group companies between 2017 and 2022, according to Air India’s website. He also previously worked in investment banking with BankofAmericaMerrillLynch. CHENNAI/KOCHI INDIA’S CURRENTACCOUNT deficit (CAD) could more than double to 2% or higher of GDP in FY27 from below 1% in FY26, while the fiscal deficit targetof4.3%willcomeunder pressure due to the West Asia conflict,chiefeconomicadviser VAnantha Nageswaran said on Saturday,reports FE Bureau. Hesaidtheconflict,whether on a “low simmer or high flame”,wouldcontinuetoaffect globaleconomythroughmultiple channels, including higher commodityprices,weakertrade growth, sticky logistics costs and lowerremittances. ■ FDI in pension sector too hiked to 100% ■ State-run insurer LIC kept under a separate framework ■ Insurance firms with foreign investment should have one resident Indian citizen on a top post ■ Entities such as banks operating as insurance intermediaries to continue FDI cap applicable to their primary sector »INSIDE« BRICS BANK INVESTMENTS DON'T NEED PRIOR NOD, SAYS GOVT PAGE 3 ance Act, 1938 (4 of 1938), as are applicable to LIC as per the provisions of section 43 of the Life Insurance Corporation Act, 1956 (31 of 1956),” the notification said. Continued on Page 2 V ANANTHA NAGESWARAN, CEA CAD could widen from less than 1% of GDP to 2% or 2%-plus of GDP, which we have to finance Continued on Page 2 RohitJainisRBI NITIAayoggets deputygovernor 2newmembers ROHIT Jain has been appointed deputy governor of the RBI for a threeyear term. Jain replaces T Rabi Sankar, whose extended tenure ended on Saturday. Jain is currently executive director at the RBI. As per the RBI Act, 1934, the central bank should have four deputy governors. The other three are Swaminathan J, Poonam Gupta and SC Murmu. THE government on Saturday appointed two new members to NITI Aayog — R Balasubramaniam, currently a member (HR) at the Capacity Building Commission, and educator Joram Aniya. With these appointments, the thinktank will now have seven members under the leadership ofVice-Chairman Ashok Lahiri.