OPINION, P10 WELL BEING FE LINES SHOULD YOU WORRY ABOUT PH IN FOOD? MrTrump will be a loser Sound, only for you Bendable sound waves that can reach only one set of ears could be next tech revolution Page 9 Does following an alkaline diet lower inflammation, ward off lifestyle diseases, aid digestion, and even cure cancer? Page 6 ACROSS THE AISLE, P CHIDAMBARAM VOL XIX NO. 44 WORDS WORTH Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM BANU MUSHTAQ AHMEDABAD 16 Pages, `12 FINANCIAL EXPRESS ON SUNDAY SUNDAY, APRIL 13, 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 , ● For Gen Zs, gym visits as much about networking as fitness GARIMA SADHWANI New Delhi, April 12 IN 2024, SPORTS and fitness activity tracking app Strava released a ‘Year in Sport’ report that revealed 58% of the people surveyed said they had made new friends via fitnessgroups.Almost1inevery5Gen Zfolkssurveyedsaidthey“wentona ■ SPOTLIGHT, P5 The age of lost innocence The issues that have sparked off a debate in Netflix series Adolescence have existed since time immemorial. How did we reach a stage where social media glamourises, and even normalises, incel culture? ■ LEISURE, P7 A mind for magic How some young men and women with special needs are learning to become professional performers, one magic trick at a time Realty, ITworst performing sectors; fall over 25% each UNDERPERFORMINGTHE BENCHMARK Sensex (down 3.82%), the realty and ITindices have been theworst-performing sectors inYTD 2025, each falling over 25%.While liquidity constraints, inflationary pressures, and delays in project approvals haveweighed on the real estate sector, uncertainty over economic growth in the US and Europe—key markets for Indian ITcompanies— has adversely impacted the ITsector. — Compiled by Kishor Kadam 110 96 96.18 BSE B Sensex 74 74.79 BSE B IT 80 74 74.31 70 B Realty BSE Base value taken as 100 Dec 31, 2024 Apr 11, 2025 Top realty laggards in YTD2025 48.6 Anant Raj 33.9 33.0 30.1 28.6 Prestige Estates Oberoi Realty Godrej Properties Sobha Top IT laggards in YTD2025 70.7 57.9 47.5 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 , Vakrangee Quick Heal Tech Sonata Software 47.5 Black Box 46.8 Newgen Software A SHARED EXERCISE 1 n5 58% GeniZs went 95% 49% 44% made new friends via fitness groups 52% Indians said sporty first dates are appealing on date with someone they met through exercise Indians eager to combine fitness with dating Indian Gen Z singles interested in fitness-centred dates said it will be dealbreaker if their partner is not interested in sports ILLUSTRATION: SUNEESH K date with someone they met through exercise; and were 4x more likely to want to meet people throughworkingoutthanatthebar.” For Jackie Thakkar,a 32-year-old Mumbai-based standup comedian and creative director at a leading media company, this phenomenon resonates quite a bit. He’s recently joined a local frisbee group that meetstwiceaweek.Theclubhasalot offolksundertheageof40.“Thishas ● Exceptions to 10% baseline tariff possible, says Trump PRESIDENT DONALD TRUMP’S administration exempted smartphones, computers and other electronics from its so-called reciprocal tariffs, potentially cushioning consumers from sticker shock while benefiting electronics giants,includingApple and Samsung. The exclusions, published late Friday by US Customs and Border Protection,narrow the scope of the levies by excluding the products from Trump’s 125% China tariff and his baseline 10% global tariff on nearly all other countries. The exclusions would apply to smartphones, laptop computers, hard drives and computer processors and memorychips.Those popular consumer electronics items TARIFF TURMOIL Exclusions would apply to smartphones, ■ The tariff reprieve may prove fleeting as exclusions stem from laptop computers, an initial order that prevented hard drives extra tariffs on certain sectors and computer from stacking cumulatively on processors and top of the country-wide rates memory chips ■ FOR DECADES, THE fiercely independent Prada chairman Patrizio Bertelli talked about the need for Italian fashion houses to acquire size and scale to take on sprawling industrybehemoths like LVMH and Keringandalsoavoidbeinggobbled up by them. And yet his efforts to add heft to the Milan-based company he controls with his wife Miuccia Prada through an acquisition binge in the late 1990s left the group saddled with more than €1 billion ($1.13 billion) in debt and later forced the couple to seek help from Italian banks to prevent losing control. More than a quarter century on, the family—including the couple’s D E L H I , P U N E oldest son Lorenzo,Bertelli’s designated successor—is seeking a different outcome from the biggest acquisition in Prada’s 112-yearhistory: Versace. PradaonThursdayagreedtobuy the brand founded in the 1970s by late designer Gianni Versace from Capri Holdings for €1.25 billion. The amount was significantly less than the initial asking price of more than €2 billion,according to people familiarwiththematter.Pradaeven squeezed out a last-minute discount on the agreed €1.4 billioneuro price following the turmoil created by US President Donald Trump’s tariff push.The final price tag could be lower still, following several adjustments. AddingVersace to Prada’s small yet growing stable of brands may been a greatwayforme to meet new people I would not have met otherwise as I usually hang out in media circles.Through frisbee, I have met many expats and NRIs and made newfriends,”saidThakkar. Siva Kumar Pedhapati, head of brandmarketingatCurefit,theparent companyof Cultfit,told FE,“Fitness really is a shared experience rather than merely an individual pursuit.At Cult,ourgroupworkouts are specificallydesigned to encourage social interactionwhile making fitness more enjoyable.” Continued on Page 2 ■ The exclusion is a sign that the products may soon be subject to a different tariff, albeit almost surely a lower one for China THE SUPREME COURT judgment settling the dispute between Tamil NaduGovernorRNRaviandtheruling DMK government over the clearingof bills—while laying down a specific timeframe for the Presidentandgovernortoact in such cases—seeks to give itself a toehold in the lawmaking process. The April 8 judgment by a bench of Justices JB Pardiwala and R Mahadevan saysthatinvokingArticle143,the President “ought to” seek its opinionwherethegovernorhasreserved the Bill forhis/herconsideration on the ground of“perceived unconstitutionality”.Article 143 deals with the power of the President to seek theSC’sopiniononimportantques- used to make semiconductors also won’t be subject to Trump’s new tariffs DONALD TRUMP, US PRESIDENT Dollar would always remain the currency of choice generallyaren’tmadeintheUS.Setting up domestic manufacturing would take years. The products that won’t be subject to Trump’s new tariffs also include machines used to make semiconductors. That would be important for Taiwan Prez‘ought’to seekview if guvreserves Bill: SC ANANTHAKRISHNAN G New Delhi, April 12 ■ Machines tions of law or fact. Acknowledging that it’s not mandatory for the government to accept its opinion, the SC added that the same “holds high persuasive value and should ordinarily be accepted by the legislature and the executive” and “merely because the jurisdiction under Article 143 is not binding does not undermine the principles used by this Court to determine the constitutionality of the bill.” It pointed out that in the 1978 decision in ‘In Re: The Special Courts Bill’,“theview taken” by the SC “was that consultative jurisdiction under Article 143 may avoid any possible challenges to the vires of a bill if it becomes an Act”. Continued on Page 2 Semiconductor Manufacturing, which has announced a major new investment in the US as well as other chipmakers. The tariff reprieve may prove fleeting. Continued on Page 2 ● Soaring sales driven ZOOMING AHEAD by new sub-4 metre % models Syros & Kylaq 31.3 VIKRAM CHAUDHARY New Delhi, April 12 KIA INDIA AND Skoda Auto India have witnessed a significant sales boost in March, driven by the rising popularity of sub-4 metre SUVs.Kia recorded sales of 25,525 units, marking its third-highest monthly performance and a year-on-year growth of 19.3%. Skoda, meanwhile, achieved its best-ever monthly sales, delivering 7,422 vehicles. Thissuccesscanbelargelyattributed to two new compact SUVmodels—Kia’s Syros and Skoda’s Kylaq. Syros, launched on February 1, has alreadysold15,986unitsinjusttwo months.Kylaq,whichbegandeliveries on January 27, has already receivedover15,000bookings.Both models have entered a hotly contested segment and quickly found favouramong the consumers. Guaranteeing succession is a critical issue for Italian family-controlled businesses. They have seen one brand after another scooped up by global players. For families, it has meant loss of control. This deal has brought together two of the best-known clans of the fashion industry give the Italian house the ability to stand alone in the fight for customers against the world’s biggest luxury giants as key markets like China and the US weaken.The bulk it adds strengthens the succession plans of the Prada-Bertelli family, which owns 80% of Prada. Miuccia, 76, and Patrizio, 79, have been determined to hand over the reins of the companyto Lorenzo in away that ensures the fashion house can Share of sub-4 metre SUVs in sales ofpassengervehicles (Apr-Feb FY25) 25,525 7,422 Units sold by Kia in March, its third-highest monthly figure Units sold by Skoda in March, its best-ever monthly sales 15,986 Units sold by Kia's Syros since its launch on February 1 Industryexpertssaidthecontinued consumer shift toward SUVs is fuelling this momentum. Continued on Page 2 ● UNITED COLOURS OF SPRING Revellers play with water as they celebrate Songkran in Bangkok, Thailand, on Saturday. The festival, which marks the Thai new year, is often compared to India's Holi due to their shared themes of REUTERS cleansing, renewal and the celebration of spring Prada clan succession plan bolstered by Versace deal BLOOMBERG April 12 N E W Reciprocal tariffs spare Kia,Skoda ride on phones,computers,chips compactSUVboom BLOOMBERG April 12 90 READ TO LEAD Muscle,friends & a date—all in a day’swork(out) WHAT'S INSIDE 100 C H E N N A I , Interview with author of Heart Lamp, shortlisted for Int’nl Booker Prize Page 4 maintain its independence. Guaranteeing succession is a critical issue forItalian family-controlled businesses. Over the years, they have seen one brand after another scooped up by bigger global players. LVMH owns Fendi and Loro Piana and lastyearbought a stake in the company that controls Moncler. Kering owns Gucci, Bottega Veneta and has an option to gain control ofValentino.Forthe families behind these brands,it has meant a loss of control. Lorenzo,36,a formerrallydriver who joined the family business about six years ago, is currently the head of marketing and social responsibility at Prada. He’s set to take over his father’s responsibilities in coming years. In Versace, Prada gets a brand with a polar-opposite aesthetic, widening its range. While designerMiuccia has created her “ugly chic” style at Prada, Versace has been known for its elaborate, ornate designs and its signature Barocco print.“Versace’s distinctive aesthetic fits perfectly into our portfolio, adding creative and customer complementarity,” Lorenzo said. “As we’ve seen in recent years, unlocking a brand’s full potential doesn’t necessarily require a revolution, but rather an evolution through small and constant steps.” Prada’s purchase comes after record 2024 results, thanks to its Miu Miu label, which caters to younger consumers and helped it weathertherecentglobaldownturn in high-end fashion. IN THE NEWS ED issues notices in National Herald case THE ENFORCEMENT Directorate has served notices to take possession of immovable assets worth `661 crore that it had attached as part of a money laundering probe linked to Congress-controlled National Herald newspaper and Associated Journals. ■ PAGE 3 NoWaqfAmendment Act in Bengal: Mamata THE WAQF (Amendment) Act will not be implemented in West Bengal, CM Mamata Banerjee said on Saturday amid violent protests in the state, particularly in Murshidabad. ■ PAGE 3 Ahmedabad