OPINION, P10 FE LINES WELL BEING Dr Manmohan Singh,RIP HOW TO CONSUME DRY FRUITS Race for humanoids OpenAI is back in the robotics arena, and the world awaits the results Page 6 While they are rich in nutrients, eating too much can have negative health effects Page 9 ACROSS THE AISLE, P CHIDAMBARAM LEISURE Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM VOL 18 NO. 4 KISSA & KAHANI FINANCIAL EXPRESS ON SUNDAY SUNDAY, JANUARY 5, 2025 F R O M : A H M E D A B A D , TECHCHARGEOF YOURWELLNESS Wellness is today the biggest selling point, and brands are upping the wellness quotient of their products ■ WORDS WORTH, P4 BIJNESS IS BIJNESS Entrepreneurial spirit is inherent in Gujaratis, as excerpts from Salil Tripathi’s book show C H E N N A I , READ TO LEAD H Y D E R A B A D , 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 , N E W D E L H I , P U N E Not top, the 2025 auto sector race hot at middle level ■ Last year, Source: Siam, carmakers Toyota timerivalTata Motors. Lastyear,ToyotaKirloskarMotor edged past Kia India to claim the 2023 2024 5,50,838 5,62,468 4,33,172 5,28,460 fifth-largest carmaker position, a feat driven by robust growth and strategic collaborations. Toyota’s 2,55,038 ■ M&M caught up Toyota with rivalTata edged past Motors for 3rd spot Kia India to become fifth-largest carmaker (Unit sales) 2,55,000 gearing up for a defining year in 2025,with two intense battles shaping the sector’s landscape. One will see Toyota and Kia locking horns for the fifth spot among carmakers, whiletheotherwillinvolveMahindra andTataMotorsinano-holds-barred raceforthethirdposition.Theserivalries are set to build on the upheavals of 2024,when Toyota overtook Kia, and Mahindra caught up with long- NECK AND NECK Tata Motors VIKRAM CHAUDHARY New Delhi, January 4 THE PASSENGER VEHICLE market is ■ SPOTLIGHT, P5 C H A N D I G A R H , M&M WHAT'S INSIDE B E N G A L U R U , 2,99,989 P U B L I S H E D 2,20,725 LUCKNOW 20 Pages, `12 How some festivals are striving to keep oral storytelling alive Page 7 Kia sales surged to 299,989 units in 2024, a 36% jump over the 220,725unitssoldin2023,accord- ing to Siam data. This growth enabled Toyota to outpace Kia, whose sales stagnated at 255,038 units, almost similar to its 2023 performance of 255,000 units. Toyota’ssuccessstorywasfuelled bynewproduct launches and its collaborationwithMarutiSuzuki,which suppliesfourmodelstoToyotaunder a cross-badging agreement. These rebadged models—Glanza, Urban CruiserHyryder,Rumion,andUrban Cruiser Taisor—constituted nearly 50% of Toyota’s sales. Toyota also expanded its appeal with innovative TWO-YEAR COMPLIANCE TIME FOR NEW LAW Sectoral needs to drive data localisation: Govt ● Restrictions to be applied only where needed JATIN GROVER New Delhi, January 4 THE GOVERNMENT’S APPROACH todatalocalisationwillbeguided by sectoral requirements, ensuring restrictions are imposed only where necessary, electronics and IT ASHWINI VAISHNAW, ELECTRONICS & IT MINISTER Rules designed to balance regulation and innovation while safeguarding citizens’ rights minister Ashwini Vaishnaw told FE on Saturday. Vaishnaw said a balanced framework is being put in place to safeguard critical personal data while avoiding disruption to industries. A government-appointed committee will act as a central body to evaluateanylocalisationneedsraised by sectoral ministries.This committeewillconsultindustrystakeholders before making any recommendations. “The intent is not to disrupt cross-border data flows but to address specific sectoral requirementswherelocalisationisnecessary forcitizen safety,”Vaishnawsaid. Continued on Page 2 ■ Compliance challenges: P3 offerings like the Urban Cruiser Taisor and Camry Hybrid,alongside limited editions of its popular models such as the Innova Hycross and FortunerLeaderEdition. In contrast,Kia’s newofferings in 2024leanedtowardnichesegments, including the ultra-premium EV9 (priced at `1.3 crore) and the CarnivalLimousine(`64lakh).Whilethese products bolstered its brand image, their limited appeal didn’t translate into significantsalesvolume. Continued on Page 2 HDFC Bank deposits up 15.8% in Q3 SACHIN KUMAR Mumbai, January 4 PM Narendra Modi & FM Nirmala Sitharaman at Grameen Bharat Mahotsav Modi emphasised that the government is moving forward with the mantra of national development through rural development. Modi also stressed upon the need to create more farmer producer organisations (FPOs). BANK POSTED higher deposit growth than advances in the third quarter, as per provisional business updates. Deposits at the country’s largest private lender surged 15.8% to `25.63 lakh crore as of December 31, 2024, from `22.14 lakh crore a year ago, registering a growth of 2.5% at over `25 lakh crore as of September 30, 2024. Gross advances of the bank rose 3% to `25.42 lakh crore as of December 31, 2024, from `24.69 lakh crore a year ago. Continued on Page 2 Continued on Page 2 PM: Need 5-6 more cooperatives likeAmul FE BUREAU New Delhi, January 4 PM NARENDRA MODI on Saturday said there is a need to set up five-six morecooperativeslikeAmultoensure betterpricesforfarmers’produce. Inaugurating the Grameen Bharat Mahotsav 2025 in Delhi, HDFC Lucknow