OPINION, P10 WELL BEING How the rush to release affordable and accessible versions of weight-loss drugs could reshape the fight against ‘diabesity' Page 9 Millions of citizen non-voters! FE LINES Massive investments going into agentic AI in healthcare Page 6 INDIA'S ‘MAGIC PILL' MOMENT ACROSS THE AISLE, P CHIDAMBARAM AI is running hospitals now LEISURE Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM VOL XXV NO. 21 PRABALGURUNG INTERVIEW FINANCIAL EXPRESS ON SUNDAY NEW DELHI SUNDAY, MARCH 22, 2026 22 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 , ● SC had recently denied plea for a nationwide policy ■ SPOTLIGHT, P5 Ice cream gets cooler SREYA DEB New Delhi, March 21 How the Indian ice cream landscape is undergoing a transformation, scooping up functional offerings in a market increasingly driven by premiumisation & health-forward innovations THE SUPREME COURT’S move to strike down a petition seeking uniform menstrual leave in the country, saying a national-levelmovemightdiscourage employers from hiring women altogether, leaves individualstatesandorganisa- An entirely new narrative into the formation of modern China and the rise of communism SINCETHE US–Israel–Iran conflict began on February 28, the combined equity holdings of foreign portfolio investors (FPIs) in India have slumped by a record $79.3 billion (`6.15 lakh crore) during the first 15 days of March, according to NSDLdata. This accounts for nearly one-fifth (18%) of the total erosion of `33.68 lakh crore in overall investor wealth during the period. FPI equity assets declined to $709.91 billion (`65.62 lakh crore) as of March 15, from $789.17 billion (`71.78 lakh crore) as of February 28. FPIs have offloaded shares worth $6.3 billion (`58,063 crore) since March 2. — Compiled by Kishor Kadam 709.9 Mar 15 789.2 Feb 28 797.2 Feb 15 775.4 Jan 31 802.6 Jan 15 825.9 Dec 31 814.2 Dec 15 833.7 Nov 30 Nov 15 837 FPI equity assets under custody ($ billion) 831.4 K O L K A T A , L U C K N O W , STATUS UPDATE M U M B A I , Sikkim HC allows women in registry 2-3 days’ off per month on medical officer’s recommendation; Sikkim University offers 1 day per month to students, staff ■ Pvt firms offering menstrual leave include Acer India, Larsen & Toubro, Zomato, Swiggy, Byju’s ■ Karnataka became first state with a menstrual leave policy for staff, except gig workers ■ (12 days a year) Bihar, Odisha offer two days' off for state govt employees only, Kerala for staff of industrial training and state-run higher educational institutes ■ tions to step up on this front. Karnataka recentlybecame the first Indian state to introduce a statewide menstrual leave policyforwomen,affording them 12 days of annual leave. While other states such as Bihar, Odisha and Kerala (10-12 days a year) also have menstrual leave policies in place,they do not apply across the board. Bihar and Odisha offer two days off for ● 22 countries urge Iran to reopen Hormuz N E W D E L H I , P U N E 2026 Source: NSDL PRESIDENT DONALD TRUMP said the US was considering “winding down” its military operation against Iran, as Iran andIsraeltradedattacksSaturdayand Iranian media said the nuclear enrichment facility in Natanz had been attacked. Iran fired two ballistic missiles towards the US-British military airport on the island of Diego Garcia, 3,800 km away in the Indian Ocean but did not hit the base, the Wall Street Journal reported. A source at Britain’s defence ministry said the attack had occurred before the government gave specific authorisationFridayforthe US to use British military bases to carry out strikes on Iranian missile sites. In a social media post, Trump said the US was close to meeting its goals but insisted thatothercountriesshouldtake the lead in policing the vital shipping lane of the Strait of Hormuz, whose near-closure threatensaglobalenergyshock. Twenty-two countries on Saturday urged Iran to cease attacksandreopentheStraitof Hormuz. They include the UnitedArabEmirates,Bahrain, the UK, Germany, France, Japan, South Korea and Australia.These nations have condemnedIran’s attacksoncommercial vessels as well as oil and gas facilities in the region. “The effects of Iran’s actions will befeltbypeopleinall parts of the world, especially the mostvulnerable,”theysaid in a joint statement on Saturday. Continued on Page 2 state government employees only, and Kerala for staff of industrial training and staterun higher education insti- WITH INDIAN CINEMA scaling new heights and pushing boundaries, Chetak Screen Awards returns onApril 5with arenewedapproach andastarstuddedevening tohonourthe best cinematic works of 2025. The nominations position Aditya Dhar’s espionage thriller Dhurandhar—a massive box-office success—as the frontrunnerwith 24 nods.It is followed by Mohit Suri’s romantic musical saga, Saiyaara, with 17 nomina- Continued on Page 2 LPG relief for hospitalityunits ● Allocation to states, UTs hiked to 50% People warm up by a fire near tents used as shelter by displaced people in Beirut, Lebanon, on Saturday REUTERS MODI DIALS PEZESHKIAN PMNarendra ModionSaturday spokewith the PresidentofIran, Masoud Pezeshkian,and condemnedthe attackson critical infrastructurein WestAsia, while stressingthe importanceof safeguarding freedomof navigation and ensuring shippinglanes remain open andsecure ■ Inacallwiththe Iranianleader,Modi conveyedEidand Nowruzgreetings, expressinghope thatthefestive seasonbrings peace,stability andprosperity toWestAsia ■ ‘Reiteratedthe importanceof safeguardingfreedom ofnavigation...,’Modi postedonX.Healso appreciatedIran's continuedsupportfor thesafetyand securityofIndian nationalsinIran ■ ■ Pezeshkian said on Saturday there needs to be an ‘immediate cessation’ of what he described as US-Israeli aggression to end the war and wider regional conflict, Iran's embassy in India said in an X post PM NARENDRA MODI ON TELEPHONE CALL WITH IRAN PRESIDENT MASOUD PEZESHKIAN Reiterated importanceof safeguarding freedomof navigation & ensuring shipping lanes remain open & secure CRISIS CONTROL PRESS TRUST OF INDIA New Delhi/ Mumbai, March 21 Pezeshkian told Modi there should be guarantees to prevent a recurrence of such ‘aggression’ in the future. He also called on the BRICS bloc of major emerging economies to play an independent role in halting aggression IndianrefinerslookatIranoilpostwaiver INDIAN REFINERS PLAN to resume buying Iranian oil while refiners elsewhere in Asia are examining such a move after Washington temporarily removed sanctions to alleviate an energy crunch caused bythe US-Israeliwaron Iran,traders said on Saturday. Three Indian refining sources said theywill buyIranian oil and are awaiting government directions and clarity from Washington on details such as payment terms. tions, and Neeraj Ghaywan’s moving tale of friendship, Homebound,with 15. Backed by a powerful blend of editorial credibility,cultural legacy and digital reach, the awards across 31 categories, will spotlight those who have excelledandenrichedcontem- Latest increase to be effective March 23 ■ Builds on earlier measures, including 20% baseline restoration, 10% additional allocation linked to PNG expansion ■ Additional supply to be prioritised forkeysectors; 5kg cylinders for migrant labourers ■ a letter to states and UTs. The additional supply will be prioritised for key sectors, including restaurants,dhabas, hotels, industrial canteens, food processing and dairy units,subsidised kitchens and community feeding programmes,as well as 5 kg cylinders for migrant labourers. No domestic airfare capsfromtomorrow ■ REUTERS NewDelhi/Singapore,March21 THE CENTRE ON Saturday allowed an additional 20% allocation of commercial LPG to states and Union territories, taking the total commercial LPG supply to 50% of pre-crisis levels, as it steps up efforts to manage shortages triggered by disruptions in West Asia. The latest increase—effective March 23—builds on earlier measures, including 20% baseline restoration and 10% additional allocation linked to PNG expansion, as per a communication from the ministry of petroleum and natural gas. “I wish to now inform you that wef 23.3.26 till further notification, another 20% is being allotted…whichwouldtakethe overall allocation to 50% of the pre-crisis level,”petroleum secretary Neeraj Mittal said in On Friday, the Trump administration issued a 30day sanctions waiver for the purchase of Iranian oil already at sea,TreasurySecretaryScott Bessent said. The waiver appliestooilloadedonanyvessel on or before March 20 and discharged byApril 19. THE GOVERNMENT HAS removed temporary caps on domestic airfares that were imposed in the wake of the IndiGo flight disruptions in December last year. The airfare caps removal will be effective from March 23, according to an order issued by the civil aviation ministry. The removal also comes at a timewhen airlines are facing significantoperationaldisruptions in international routes due to the West Asia conflict. Chetak Screen Awards reboot with Dhurandhar leading nods EXPRESS NEWS SERVICE Mumbai, March 21 tutes,besides a 2% attendance relaxationforstudentsofthese institutes. Even Karnataka excludes domestic workers, daily wagers and gig workers, estimated to be around 6 million in number. The Sikkim High Court also has a menstrual leave policy in place, allowingwomenintheregistry two to three days off per month on a medical officer’s recommendation, while Sikkim University offers one day per month to female students and staff. SAURAVANAND New Delhi, March 21 AGENCIES Dubai/Washington, March 21 Warimpact:$79-bn FPIassetswipedoutin first15daysofMarch Oct 31 K O C H I , IransaysitsNatanzn-sitehit, fires at UK’s Diego Garcia Dismantling of a fairytale 823.3 H Y D E R A B A D , WINDING DOWN OPS, SAYS TRUMP | STRIKES TO CONTINUE: ISRAEL ■ WORDS WORTH, P4 Oct 15 C H E N N A I , READ TO LEAD States,corporates take on menstrual leave baton WHAT'S INSIDE 2025 C H A N D I G A R H , ‘South Asian designers are telling stories with clarity, confidence’ Page 7 poraryHindicinema.Drivenby has developed detailed rubrics The Indian Express Group’s for Academy members to foljournalism-firstethos,thehon- lowwhile scoring. ours are anchored in The evaluation integrity and merit. process witnessed Best Film Winners will be choover 95% Academy sen by the Screen participation across ■ Dhadak 2 Academy, an indecategories, with an ■ Dhurandhar pendent, not-foraverage of 38-40 ■ Haq profit bodycomprisAcademy members ■ Homebound ing over 50 scoring each category, ■ Saiyaara acclaimed filmmakensuring a highly ■ Chhaava ers, artistes and culrobust and represen■ Sitaare tural voices. To tative selection Zameen Par ensure rigour and process.Formostcate■ Superboys of accuracy,PriyaJaikugories, 38-40 valid Malegaon mar, professor and scores were considChair of cinema and eredafterapplyingthe mediastudiesattheUniversity trimmedmean(Olympic)scorof Southern California School ing methodology ensuring of Cinematic Arts,Los Angeles, fairness and neutrality. Adopting a digital-first approach, The Indian Express Group is bringing back the prestigious Screen Awards in an intimate partnership with YouTube, offering open access to global audiences. As the race for Chetak Screen Awards takes shape, with the announcement of the nominees,thenomineesinthe Best Film category mirror the richnessanddiversityofIndian cinema. After enjoying huge success and box-office collections, Dhurandhar is vying for Best Film trophy along with Laxman Ramchandra Utekardirected Chhaava. Continued on Page 2 New Delhi In the order, the ministry also said that airlines are required to exercise pricing discipline and act responsibly. “Airlines shall ensure that fares remain reasonable, transparent and commensurate with market conditions, and that passenger interests are not adversely impacted,” it said. The ministry also stressed that any instance of excessive orunjustified surge in fares, if observed particularly during periods of peak demand, disruptions, or exigencies,would be viewed seriously. ‘Summerpower demandinorder’ INDIA does not expect the West Asia crisis to affect its ability to meet soaring power demand this summer, as the country has lined up coal and renewable capacity, said power secretary Pankaj Agarwal. ■ PAGE 3 Carbontradingin 4months:Govt INDIA will begin formal trading in its domestic carbon market within the next four months, Union Power Minister Manohar Lal said on Saturday. ■ PAGE 3