OPINION, P10 WELL BEING FE LINES PERIOD PAIN MAY NOT ALWAYS BE ROUTINE That’s the way the cookie crumbles Greening the threads How Indian climate technology startups are making fashion sustainable Page 9 While mostly ignored, menstrual cramps can be accompanied by health conditions such as PCOS & endometriosis Page 7 ACROSS THE AISLE, P CHIDAMBARAM VOL.NO.XIII SL.NO.128 WORDS WORTH Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM FULLY SELF DRIVING CHENNAI/KOCHI 22 Pages, `12 FINANCIAL EXPRESS ON SUNDAY SUNDAY, JUNE 1, 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 , Vi’s net loss widens to `7,166.1 crore VODAFONE IDEA'S net loss widened sequentially in the March quarter by `566.8 crore, as revenue declined by over `100 crore, with the telco continuing to bleed customers. Loss came in at `7,166.1 crore as compared to `6,609.3 crore in the previous quarter. ■ PAGE 3 WHAT'S INSIDE C H A N D I G A R H , C H E N N A I , Love him or hate him, you just can’t ignore Elon Musk Page 4 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 New-age philanthropyhas climate,gender,arts push VAISHALI DAR New Delhi, May 31 WHAT IT TAKES TO GIVE BILL GATES, WHOSE net worth Bloomberg estimates at $168 billion, recently announced to give away 99% of his personal wealth within the next 20 years,mainly for health, educationandagriculture.Whilethe Microsoftco-founder’sstanceisvital in addressing global challenges, newerfocusareaslikeclimateaction, mentalhealth,genderequityarealso attractingrobustphilanthropypush. Datarecordedbetween2022and 2024 from 150 philanthropist members of GivingPi, an exclusive familyphilanthropynetworkstarted 40% members of GivingPi support gender, equity, diversity & inclusion; 29% climate action ■ The Pride Fund supports queer-led organisations in August 2022, and as quoted in Dasra and Bain & Company’s India Philanthropy Report 2025, states 40% of families supported gender, Birla Education Trust drives social change ■ Azim Premji ■ The Anita Dongre Foundation aids sustainability, women’s empowerment ■ The Aditya Foundation aids education, ■ Ek Saath—The Earth ■ The Heritage Project healthcare, ecology, uplifts communities, Foundation drives disaster spaces around environmental response heritage sites sustainability equity,diversity,andinclusion,while 29% support climate action. GivingPi member community includeAbhinavBindra,founderand trustee,AbhinavBindra Foundation; Anjali Tendulkar, director & cofounder,TheSachinTendulkarFoundation;VasviBharatRam,jointchair- person, The Shri Ram Schools, to name a few. India has seen visible growth in families’wealth reflected through a sevenfold growth in family offices from45in2018to300in2024.This can build momentum towards multi-generationalandvalue-driven philanthropy in areas like climate change,mentalhealth,genderequity, sports,andarts.“Fordecades,philanthropyfocusedonhealth,education, poverty—visibleproblemswithmeasurablesolutions,”saidNeeraNundy, co-founder and partner, Dasra, a strategic philanthropyfoundation. Continued on Page 2 Mayauto sales dip Steel, aluminium tariffs 4%,PVsegment todoubleat50%:Trump drives sharp fall TO BE EFFECTIVE JUNE 4 Chief of Defence Staff admits loss of aircraft REUTERS Singapore, May 31 INDIA SWITCHED TACTICS after sufferinglossesintheaironthefirst dayof conflictwith Pakistan earlier this month, establishing a decisive advantage before the neighbours announced a ceasefire three days later, India’s highest ranking General said on Saturday. General Anil Chauhan, Chief of Defence Staff, said in an interview that India suffered initial losses in the air,but declined to give details. “What was important is, why did these losses occur, and what we’ll do after that,”he told Reuters. Continued on Page 2 The year has got off to a slow start, according to HSBC, with 64% of available indicators showing a positive trend in April versus 66% in the March quarter. Consumption in the informal sector appears to have picked up further in the month, but consumption in the formal sector—reflected in the GST cess—seems to have weakened further. Q4 2024 Q1 2025 Apr 2025 (%) Agriculture 60 Ind: Mining 33 Ind: Manufacturing 67 Ind: Utilities 100 Ind: Construction IP: Cons non-durables Terms of trade Domestic GST: Non-cess (real) Rural wages (real) 30 (% 3m/3m saar) 20 10 0 -10 -20 Aug Oct Dec Feb Apr 2024 2025 55 Serv: Financial (Invt) 100 Serv: Financial (cons) Serv: Public Informal sector consumption indicators (i.e., rural plus urban informal) are looking up 86 Serv: Trade & trans 100 0 66 64 0 20 40 60 80 100 All economy (wtd) Source: HSBC calculations Alas, formal sector consumption indicators have slowed IP: Cons durables Petrol: Cons 50 (% 3m/3m saar) 40 30 20 10 0 -10 -20 Apr Jul Oct 2024 Source: CEIC, HSBC Import: Cons goods Jan Apr 2025 AGENCIES New Delhi, May 31 UNION FINANCE MINISTER Nirmala Sitharaman on Saturday said the priority of the government is to make sure that currency in circulationwill be in lowerdenominations, besides spreading more awareness for digital transfers. Speaking at a seminarinDelhi,Sitharamansaidon the future of `500 currency, “We are making every effort to make sure that currency will be in the lower denominations, and used more, as the `2000 note is almost completelyout of circulation, except for possibly 0.02%, which is still lying outside.The rest have been returned to the of imports in 2024 ■ As a result, new tariffs will likely increase steel prices across the board ■ Rise in steel prices will hit industry and consumers alike DONALD TRUMP, US PRESIDENT We’re going to bring it from 25% to 50%... which will further secure steel industry in the United States Steel.Trump said the $14.9-billion deal,likethetariffincrease,willhelp keepjobsforsteelworkersintheUS. He later posted on social media that the increased tariff would also banks.We need to have more digital awareness,”the FM said. In recent years, India has witnessed an unparalleled rise in digital transactions, marking a significant milestone in its journey towards becoming a cashless society. At the forefront is UPI with a record hit of 16.73 billion transactions in December 2024. She also said the government terms entrepreneurs as wealth creators as profit earned by them throughethicalwayshelpsdrive development goals. “Wealth creation in India has never been a taboo. We promoted wealth creation.That is whywe referto entrepreneursaswealth creators; they are not thieves,”she said. Continued on Page 2 apply to aluminium products and thatitwouldtakeeffectonWednesday,June 4. Continued on Page 2 AUTO SALES IN May are set to record a year-on-year (YoY) decline of about 4%. As per Vahan data, total vehicle registrations stood at 2.03 million units as of 3 pm on Saturday,compared to 2.11 million units in May 2024—a drop of approximately 4%. The sharpest declinewas seen in the passengervehicle (PV) segment, whichfellbyapproximately8.6%in May 2025, with sales dropping to 2,80,877unitsfrom3,07,356units in the same month last year. TheSocietyofIndianAutomobile Manufacturers(SIAM)hasprojected FY26 would see subdued growth of 1-2% in the passengervehicles segment and the auto industry as a whole. The cautious outlook has beenattributedtoweakurbansentiment,a rising preference forcostlier SUVs and declining affordability. In contrast, two-wheeler sales May 2024 May 2025 (in mn) Y-oy change (%) -8.6 3.28 16.12 -4 2.11 agreement, like the tariff increase, will help keep jobs for steel workers in the US, says Trump 26.2 mn-tonne 2.03 $14.9-bn Govt prioritising lower denominationnotes:FM Slow off the block Proportion of the economy on a positive footing talks of Nippon Steel-US Steel deal UNIT SALES Total auto sales Brands are turning to AI bots and avatars for ad campaigns, not only as a cost-effective tool but also as a creative collaborator ■ Trump announces higher tariffs amid NITIN KUMAR New Delhi, May 31 Electric 0.14 vehicles 0.16 Faces of the future US PRESIDENT DONALD Trump said on Friday he planned to increase tariffs on imported steel and aluminium to 50% from 25%, ratcheting up pressure on global steel producers and deepening his trade war. “We are going to be imposing a 25%increase.We’regoingtobringit from 25% to 50%—the tariffs on steel into the United States ofAmerica,whichwillevenfurthersecurethe steelindustryintheUnitedStates,”he said at a rallyin Pennsylvania. Trump announced the higher tariffs just outside Pittsburgh, where he was talking up an agreement between Nippon Steel and US ■ US is world's largest steel importer, excluding EU, with 1.54 1.59 ■ LEISURE, P6 REUTERS/PTI Pennsylvania/New Delhi, May 31 TRADE WAR DEEPENS Twowheelers As popular destinations come under pressure due to overcrowding, climate crises & unplanned development, many are redefining travel plans to look at newer places, even as there is a need to reshape policy around tourist hotspots ● $4.56-bn Indian exports exposed to higher rates 0.31 0.28 Shifting tourism Passenger vehicles ■ SPOTLIGHT, P5 rose by 3.28%, reaching 1.59 million units in May 2025, up from 1.54 million units in May 2024. Continued on Page 2 ● A PINCH OF PINK A woman enjoys a 50-metre-long pink slide during the Pink Soup Fest in Vilnius, Lithuania, on Saturday. The unique festival celebrates ‘saltibarsciai’, a creamy, bright pink cold soup and a centuries-old local REUTERS staple that has now become synonymous with Lithuanian identity Dharavi 2.0: A people-first transformation plan RAGHAVENDRA KAMATH Mumbai, May 31 WHAT WAS ONCE a slum, considered the world’s largest, sprawling over251hectares,willsoonbecome awell-developedareacompletewith green spaces, a promenade, waterfront development and a multimodal transit hub.This is what the ambitious masterplan for Dharavi proposes, in what is one of the world’s largest redevelopment projects,to cost about `3 lakh crore for rehabilitation and infrastructure. Theprojectisbeingcarriedoutby Navbharat Mega Developers (NMDPL), a joint venture between the state government’s slum rehabilitationauthority(SRA),andAdani Properties(APPL).Theplanproposes to set up 8,532 housing units and SLUM MAKEOVER ■ Multi-modal transit hub for metro, airport express trains, buses ■ Inter-connected network of green and public spaces ■ Hospital network in Dharavi, other locations ■ Waterfront development, riverside promenade ■ Well-connected road network for inclusive transportation system 13,468commercialunitsforeligible tenantsinthe Dharavinotifiedarea. At the centre of the plan is a multi-modal transit hub (MMTH), thefirstforthecityprovidingaccess to metro, high-speed and airport express trains, besides city buses and other city transport—all at one location. This will ensure efficient transfers in all directions, with Dharavi serving as a focal point. “Those in transit can come to Dharavi, check-in their bags for flights later in the day either from Mumbai or Navi Mumbai airports, and spend the day at various facilities at the MMTH. The MMTH, through underground elevators, CHENNAI/KOCHI escalators, and subways, will have 24x7 retail spaces restaurants, cafes, offices and hotels,” details from the company stated. Both Mumbai and Navi Mumbai airports are operated by the Adani Group. A dense road network inside Dharavi will ensure that residents can commute with the arterial routes without having to come on the main road. “It ensures a wellconnected network that links different neighbourhoods,promoting a balanced and inclusive transportation system. Dharavi’s streets will be wide and interlinked every 125 metres,”the plan proposes. The plan also offers an interconnected network of green and public spaces. Continued on Page 2
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