OPINION, P10 WELL BEING Thankfully,dead on arrival FE LINES ARE SEED OILS BAD FOR YOU? Language no barrier Canola, soybean, and other seed oils are facing criticism for their potential health risks. But are they as ‘toxic’ as they are made out to be? Page 7 ACROSS THE AISLE, P CHIDAMBARAM Real-time translations now on Google too, even if late to the party Page 8 WORDS WORTH Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM VOL XXIV NO. 44 MOTHER & MOTHERLAND FINANCIAL EXPRESS ON SUNDAY NEW DELHI SUNDAY, AUGUST 31, 2025 32 Pages, `12 (Patna `12, Raipur `12, Srinagar `15) 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 , Arundhati Roy’s memoir is as much about a punishing parent as about polarising politics 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 Feeling snacky? OTTs offering the right flavour WHAT'S INSIDE NOW STREAMING ● Micro dramas becoming big in entertainment ■ Sharechat launched Quick TV this year, ALTBalaji recently launched Kutingg ■ India expected to be a major contributor to the segment with by 2030 $10-12 bn VAISHALI DAR New Delhi, August 30 soon launch MX Fatafat ■ Startups as well ■ As of May, there MICRO DRAMA APP Bullet, launched in Julywith an opening slate of 34 one-minute dramas in seven languages, joins a growing list of similar offerings byOTTplayers seeking to catch the attention of an ■ Amazon-owned MX Player to are 15 apps offering micro drama content as major digital players tapping the space impatient generation. “With snacky content increasingly capturing audiences’short attention span and keepingthemengaged,thenext wave of content consumption will encompass creators that nurture the ability to deliver ■ Other recent, upcoming apps include Bullet, JO, TukTuki intrigue and emotions in bitesizedformats,”saidAzimLalani, co-founder and chief business officer,Bullet. Unlike long-form OTT shows, micro dramas have an emotional punch and are created for mobile-first, emotion- ally charged, and time-starved audiences with each episode deliveredintwotofiveminutes. Majordigitalplayersaretapping this space to launch their micro drama apps. Sharechat launched Quick TV this year, while ALTBalaji recently launcheditsmicrodramavertical Kutingg. Amazon-owned MX Player will soon launch MX Fatafat, and the upcoming JO vertical from Gujarati streaming platform Jojo is expected to see high userengagement. Continued on Page 2 GOVT MOVES TO CUSHION EXPORTS ■ SPOTLIGHT, P6 Retail meets restoration Easier sales for SEZs; inventoryfore-comm ■ LEISURE, P9 ● Measures to protect jobs, check stress amid tariffs Heritage spaces are being reimagined for contemporary use — leading to not only the conservation of ageing or disused legacy buildings, but also the creation of distinctive experiences for visitors A smoky affair Young, urban drinkers are cheering up the bourbon market in India MUKESH JAGOTA New Delhi, August 30 Net equity investments by DIIs surpass `5 lakh cr 2016 512,519 526,590 276,699 94,575 -36,152 42,174 109,367 90,835 37,125 DII net equity investments in ` crore 2025* Source: BSE, Bloomberg 9 64,029 37,586 2 28,228 THE GOVERNMENTISconsidering measures that will allow units in special economic zones(SEZs)to selltheiroutput in the domestic market on easier terms, and even allow an inventory-based model for ecommerce for exports, in an effort to counter the impact of escalated 50% tariffs imposed by the United States. While SEZs are allowed to sell in the domestic market, they are treated as imports in termsoftaxation.Withthetariff escalation, the SEZs face a risk of decline in orders that contribute significantly to labour-intensive exports.“The SEZ policy flexibility and pro- e-comm to allow 3rdparty entities to manage compliance & logistics ■ GSTreforms to alleviate pain of exporters viding them with a domestic outlet will enable them to sustain production volumes and scale. Costs will be spread over larger output, improving economies of scale and competitiveness, ultimately benefiting exports in the longer term,”said a senior official. Continued on Page 2 DONALD TRUMP, US PRESIDENT RAVI DUTTA MISHRA New Delhi, August 30 86,592 67,642 72,674 6 ,939 enable SEZs to sustain production volumes and scale sectors ■ Inventory model for ● In effect till Oct 14, for time to appeal in SC DII net equity investments in ` crore Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 ■ Policy flexibility to Working on both time and financial relief: CEA New Delhi: Chief economic adviser V Anantha Nageswaran on Saturday said the central government is working on measures, including financial cushion,forexporters getting impacted by steep US tariffs on Indian goods. Speaking virtually at an Indian Chamber of Commerce event in Kolkata, Nageswaran said the support will likely be aimed at providing both a “time cushion” and a “financial cushion”forthe affected export sectors and units. Continued on Page 2 PM Narendra Modi being welcomed upon his arrival in Tianjin, China, on Saturday DAYS AFTER THE steep 50% US tariffs on India came into effect, a US appeals court on Friday ruled that a majority of US President Donald Trump’s tariffs derived from powers underthe International Emer- 94,828 *up to August »INSIDE« ALLTARIFFSARE STILLINEFFECT!...If theseTariffsever wentaway,itwould beatotaldisasterfor theCountry gency Economic Powers Act (IEEPA) is illegal. ContinuedonPage2 WHAT HAPPENS TO TRUMP'S TARIFFS POST RULING? PAGE 24 PRESS TRUST OF INDIA Tianjin, August 30 India, Japan talk semiconductors AFTER A GAP of over seven years,Prime MinisterNarendra Modi landed in China on Saturdayeveningonakeenlywatched visit that assumed greater significance in view of a sudden downturn in India-US ties triggered by Washington's policies ontradeandtariff.Modiisvisiting this northern Chinese city primarily to attend the annual summit of the Shanghai Cooperation Organisation (SCO) on August 31 and September1. However, his scheduled Tokyo: Prime Minister Narendra Modi on Saturday visited a semiconductor plant at Sendai in the Japanese prefecture of Miyagi, a day after New Delhi and Tokyo resolved to deepen cooperation in the critical meeting with Chinese President Xi Jinping on Sunday on the margins of the summit has assumed greater significance inthefaceofWashington'star- Trump has no plans to visit India: Report New York: US President Donald Trump “no longer has plans” to visit India later this year for the Quad Summit, The New York Times claimed, as it detailed how relations between the American leaderandPMNarendra Modi “unraveled” over the last few months. World buying ‘made in India’, but not Indian Car exports (in units) FY24 Total FY25 6,72,105 Maruti Nissan VW Kia Suzuki Hyundai Honda Toyota On August 15, Mahindra & Mahindra showcased four concept SUVs—Vision.T, Vision.S, Vision.SXT, and M&M 2,648 2,847 3,278 5,259 11,266 13,322 11,135 15,743 52,105 26,892 17,383 27,640 7,70,364 44,180 49,543 42,989 71,334 37,589 60,229 RECENTLY, THREE MAJOR developmentshappenedonthe car export front.On August 26, Maruti Suzuki announced that itsfirstborn-electriccar,eVitara, will be exported to more than 100 countries, in addition to being sold in India. On August 20,Tata Motors re-entered South Africa—the continent’s biggest car market —with fournewmodels. 1,63,155 1,63,386 VIKRAM CHAUDHARY New Delhi, August 30 2,80,712 3,30,081 SLOW EXPORTS ● Japanese and Korean brands top India’s car exports Renault PCA Tata Motors Motors Vision.X—for both right-hand drive (RHD) and left-hand drive (LHD) markets. Of these, while the Indo- JapaneseMarutiSuzukiisbigon exports—its PV exports grew 17.6% in FY25,from 2,80,712 unitsto3,30,081units—home- X PM in China,to meet Xi MajorityofTrump tariffs not legal,rules US court surpassing the record `5.26 lakh crore seen in 2024. Compiled by Kishor Kadam 184,555 DRIVEN BY STRONG inflows from retail investors into mutual funds, net equity investments by domestic institutional investors (DIIs) crossed the `5 lakhcrore mark for the first time in 2025, reaching `5.12 lakh crore. DII inflows are now close to POLICY PUSH grown carmakers such as MahindraandTataMotorshave a longwayto go. In FY25,these two carmakers had a share of just 2.4% in PV exports—of the total 7,70,364 PVs exported during the financial year, they contributed only 18,590 units together (Mahindra expor-ted 15,743 units,andTatadidjust 2,847 units). Even though Mahindra has now become India’s second-largestcarmaker, on the export front, it is at theeighthposition,andTataata distant 11th. Continued on Page 2 New Delhi technology sector. PM Modi’svisittoTokyoElectron Miyagihighlightedthecomplementarity between India’sgrowingsemiconductor manufacturing ecosystem and Japan’s strengths in the sector. ■ PAGE 24 iff tussle that has impacted almost all leading economies across the world. Continued on Page 2