BACK PAGE, P16 COMPANIES, P4 BACK PAGE, P16 ELECTRIC PUSH TO HIRE 40,000 FRESHERS IN POLE POSITION When Musk lands in India, the red carpet for Tesla — and a few red flags TCS expects attrition to fall further by 30-50 bps, says CHRO The blistering pace at Blinkit: Small towns give platform an edge AHMEDABAD, MONDAY, APRIL 15, 2024 FOLLOW US ON TWITTER & FACEBOOK. APP AVAILABLE ON APP STORE & PLAYSTORE WWW.FINANCIALEXPRESS.COM READ TO LEAD VOL NO. XVIII 266, 16 PAGES, `12.00 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 , H Y D E R A B A D , K O C H I , K O L K ATA , L U C K N O W, M U M B A I , N E W D E L H I , P U N E IN THE NEWS FIRST IN 2 DECADES: NO DEVOLVEMENT OF G-SEC AUCTIONS DESPITE THE CENTRAL government borrowing a record amount from the market in the previous fiscal, there was no devolvement on prime dealers for the first time in almost two decades, reports Sachin Kumar. ■ PAGE 6 SHRINKFLATION MAKES ITS WAY BACK INTO FMCG AS INPUT PRICES, which were benign for a few quarters, turn inflationary, the spectre of shrinking packs looms large within fast-moving consumer goods, reports Viveat Susan Pinto. ■ PAGE 4 INVESTORS WARM UP TO CLIMATE TECH STARTUPS WITH THE RISING focus on areas such as e-mobility and energy storage, investors are leaning towards climate tech startups offering innovations, reports S Shanthi. ■ PAGE 4 EXPLAINER Why Ladakh is seeing an unending winter of discontent ■ PAGE 6 IRAN ATTACK ON ISRAEL MAY PUSH CRUDE TO $100/BARREL Shadow of war looms, markets stay on edge VIVEK KUMAR M Mumbai, April 14 ATATIME when Indian markets are at their all-time highs, they could findthemselvescaughtinthecrossfireduetotheescalationintensions between Iran and Israel. The risk of a broader conflict in West Asia after Iran’s attack on Israel on Saturday may trigger volatile swingsin equitymarkets,as rising crude oil prices could unnerve investors. In addition, there are chances that investors may seek to book some profits and take some risk off the table. Iran fired over 300 drones and missiles towards Israel on Saturday night, in response to an alleged IsraelistrikeonitsconsulateinSyria which killed several people, including two Iranian armygenerals. Though Israel,alongwith its ally US,successfullyinterceptedmostof these drones and missiles, limiting the overall damage, any potential Israeli reaction to the attack could lead to the conflict spreading beyondthetwocountries.Iran,however, said the matter is “concluded” for now, but vowed to strike back withgreaterforceifIsraelretaliates. With the price of Brent crude already hovering over $90 per barrel, this fresh escalation has raised fears that oil prices may inch closer to $100/barrel. Continued on Page 7 BJP manifesto for 2024 devoid of fiscal excess Bullet trains, hike in Mudra loan limit among promises PRASANTA SAHU New Delhi, April 14 An anti-missile system at work after Iran’s attack on Israel, as seen from Ashkelon, Israel. Israel, along with the US, successfully intercepted most of the drones and missiles Iran launched on Saturday REUTERS India calls for de-escalation WITHIN HOURS OF Iran’s attack on Israel,India expressed“serious concern” at the escalation of hostilities between the two and called for “immediatede-escalation”.“Itisvital that securityand stabilityare maintainedintheregion,” theministryof external affairs said. ■ Page 7 Won’t take part Airfares may in retaliation: US soar by 25-30% US PRESIDENT JOE Biden has warned Prime Minister Benjamin Netanyahu that the US will not take part in a counter-offensive against Iran if Israel decides to retaliate for a mass drone and missile attack on Israeli territory overnight, a White House official said. ■ Page 7 THE ATTACK BY Iran on Israel is likelyto push up airfares from India to Europe and the UK by 25-30%, reports Rohit Vaid.Travel time will also increase by an hour as airlines have started avoiding the Iranian airspace . Air India on Sunday suspended flights toTelAviv. ■ Page 7 PRIME MINISTER NARENDRAModi onSundayunveiledtheBJP’selection manifesto — ‘Modi ki Guarantee 2024’—,promising“next-generation reforms”, opening up of “newer avenuesofgrowth”invarioussectors, bullet train corridors,and continuationofthewelfareschemesrolledout duringits last decadein power. The document bore the imprint oftherulingdispensation’spolitical and ideological convictions, with pledges to work towards ‘One Nation, One Election’, and implement the Uniform Civil Code, but was marked for the absence of any new fiscally expensive schemes. While the Congress poll manifesto,NyayPatra,unveiledonApril5 promised bounties to the electorate like`1lakhperannumincomesupportto“poorfamilies”anduniversal cashless health insurance, the BJP showed restraint.The ruling party, with apparent confidence in securing a third term,sought to provide a counter-narrative of prudence and vision in its‘Sankalp Patra’. “In the next five years, we will take our nation into the top three economies of the world, launch a NARENDRA MODI, PRIME MINISTER WE WILL… LAUNCH A FINAL AND DECISIVE ASSAULT AGAINST POVERTY, OPEN UP NEWER AVENUES OF GROWTH INSIDE Promise of rise in MSP, but no legal guarantee PAGE 2 Reduced compliance burden for MSME PAGE 2 final and decisive assault against poverty, open up newer avenues of growth in various sectors, further intensifyourbattle against corruption, unveil the next generation of reforms, and take a number of propeople decisions and actions,”Modi said,after releasing the document. Continued on Page 11 Badon par bharosa rakh kar zindagi mein aage badhiye Large Cap Funds ke baare mein jaaniye Adhik jaankari ke liye apne MFD/RIA se sampark karein ya scan karein Advantages of Large Cap Funds Exposure to large and well established businesses Offer diversification and lower volatility An Investor Education and Awareness Initiative Visit https://www.hdfcfund.com/information/key-know-how to know more about the process to complete a one-time Know Your Customer (KYC) requirement to invest in Mutual Funds. Investors should only deal with registered Mutual Funds, details of which can be verified on the SEBI website (www.sebi.gov.in/intermediaries.html). For any queries, complaints & grievance redressal, investors may reach out to the AMCs and / or Investor Relations Officers. Additionally, investors may also lodge complaints directly with the AMCs, if they are unsatisfied with the resolutions given by AMCs they may raise complaint through the SCORES portal on https://scores.gov.in. SCORES portal facilitates investors to lodge complaint online with SEBI and subsequently view its status. In case the investor is not satisfied with the resolution of the complaints raised directly with the AMCs or through the SCORES portal, they may file any complaint on the Smart ODR on https://smartodr.in/login. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Ahmedabad