BACK PAGE | PAGE 16 COMPANIES | PAGE 4 IndiabeatAustralia,enter ChampionsTrophyfinal INTERNATIONAL | PAGE 7 Palichacounterscashburn claimbyZomatoCEO LUCKNOW, WEDNESDAY, MARCH 5, 2025 US pulls the plug on Ukraine military aid FOLLOW US ON TWITTER & FACEBOOK. APP AVAILABLE ON APP STORE & PLAYSTORE WWW.FINANCIALEXPRESS.COM READ TO LEAD VOL 18 NO. 80, 20 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 , 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 SENSEX: 72989.93 ▼ 96.01 NIFTY: 22,082.65 ▼ 36.65 NIKKEI 225: 37,331.18 ▼ 454.29 HANG SENG: 22,941.77 ▼ 64.50 `/$: 87.27▲ 0.09 `/€: 91.74 ▼ 0.63 BRENT: $70.63 ▼ $0.99 GOLD: `86,022 ▲ `1194 IN THE NEWS Firm on reducing regulatory burden, says Sitharaman A ROBUST MANUFACTURING sector free from unnecessary regulatory bottlenecks will further attract both domestic & foreign investments, driving economic growth and positioning India as a trusted global player, FM Nirmala Sitharaman said on Monday. ■ PAGE 2 Bombay HC stays FIR order against Buch, five others THE BOMBAY HIGH Court on Tuesday stayed for four weeks a special court’s order directing FIR against former Sebi chairperson Madhabi Puri Buch and five others, reports PTI. ■ PAGE 6 Real estate sector to see record `60K cr launches in Q4 THE FOURTH QUARTER of the current fiscal is expected to see a record `60,000 crore launches of projects by top listed developers, reports Raghavendra Kamath. ■ PAGE 4 »EXPLAINER« US TARIFF THREAT: WHATARE INDIA’S OPTIONS? PAGE 9 TOADDRESS LACK OFENTHUSIASM Govtmayseek localtalentfor internscheme ● Candidates from same state where employer is located may get preference PRIYANSH VERMA & MANU KAUSHIK New Delhi, March 4 THE GOVERNMENT IS considering key changes to the PM Internship Scheme (PMIS) to make it more workable, and ensure that a larger pool of job seekers benefit from it. According to official sources, the government may,to the extent possible, select and recommend candidates to each participating unit from the same state it is located. The proposed state-specific selection is expected to address the issue of a lack of enthusiasm among a section of potential beneficiaries. Currently, in a vast number of cases, shortlisted individuals are unwilling to travel to a different state for availing the 12-month internship, especially given the “low stipend”. Hence, the government – which shortlists candidates for the internship positions in participating companies – may start selecting candidates based TEPID RESPONSE ■ Currently, shortlisted individuals are unwilling to travel to a different state for availing 12-month internship, especially given the low stipend ■ PMIS offers `5,000 a month plus a one-time allowance of `6,000 BigjobcutsatRenaultsubsidiary NARAYANAN V Chennai, March 4 RIPPLE EFFECT RENAULT NISSAN TECHNOLOGY and Business Centre India (RNTBCI), the tech capability centre of the Renault-Nissan Alliance,may lay off 5-10% of its workforce as part of a restructuringexercise.Sourcesfamiliar with the developments told FE thatthecentrewhichhasatotalstaff strength of 10,000,is looking at cutting the same byaround 500-1,000. The centre has outsourced some of its functions like finance, accounting,and supply chain management, to Genpact.As a result, it will focus only on its core engineering functions. Sources said that the core engineering staff will not be affected bythe layoffs. a staff strength of 10,000 may lay off ■ The tech centre with 5-10% workforce of the total ■ Renault Nissan Technology and Business Centre India (RNTBCI) was established in 2007 Mails seeking responses from RNTBCI and Genpact did not elicit any response till the time of going to the press. RNTBCI serves as the global tech capabilitycentresupportingRenault and Nissan operations worldwide. ■ RNTBCI's workforce includes over 5,000 employees in core engineering, 2,800 in vehicle department, and the remainder in other functions ■ Renault holds a 51% stake in the company, while Nissan owns the remaining 49% Renault holds a 51% stake in the company, while Nissan owns the remaining49%.Establishedin2007, itwasamongthefirstglobalcapabilitycentres in Chennai. Continued on Page 10 ● EXCELLENCE IN GOVERNANCEAWARDS Don’t be just a spectator, PM tells India Inc AMIDGLOBALUNCERTAINTIESand supplychain disruptions,PM NarendraModionTuesdayaskedtheindustry not to be a mere spectator,but to take advantage of the opportunities byinvestingmore.Speakingatawebinarwith stakeholders to finalise the blueprint for implementing measures announced in the Budget, he said new modes of credit delivery needtobedevelopedtoensureaccess of timely and low-cost funds to MSMEs.“Today every country in the world wants to strengthen its economic partnership with India. Our manufacturing sector should come forwardtotakemaximumadvantage ofthispartnership,”hesaid. ■PAGE 2 RENUKA PURI ■ So far, only 28,141 candidates accepted internship offers ■ In the current fiscal, the target is to provide 125,000 internship opportunities on the locality factor, the sources added. While there is also a demand from large firms implementing the scheme for the right to select the candidates, a final call on this is yet to be taken. Continued on Page 10 Union minister Ashwini Vaishnaw with Express Group chairman Viveck Goenka and its executive director Anant Goenka at The Indian Express Excellence in Governance Awards in New Delhi on Tuesday WINNERS LIST, PAGE 10 Lucknow
The Financial Express (FE) is a business paper that’s closest to the people who are in the business of business. From business policies to market trends to new developments, The Financial Express comes packed with incisive news on every relevant issue.
