OPINION, P10 WELL BEING FE LINES HOW AI IS RESHAPING THE IVF GAME A decisive moment in history Meet Junior This AI employee clocks in before your staff Page 8 AI is no more considered just a research tool — it’s becoming a standard part of IVF procedures Page 9 ACROSS THE AISLE, P CHIDAMBARAM WORDS WORTH Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM VOL 19 NO. 16 LLOYD BLANKFEIN LUCKNOW 18 Pages, `12 FINANCIAL EXPRESS ON SUNDAY SUNDAY, APRIL 26, 2026 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 , WHAT’S INSIDE C H A N D I G A R H , The cultural cornucopia of Chettinad How the architectural and cultural heritage of a business community in Tamil Nadu is struggling to survive amid abandoned homes and crumbling mansions ■ LEISURE, P5 Tuning into tech Barring February, FPIs were net sellers in all three months of 2026 so far. They recorded a monthly outflow of $14.2 billion (`1.32 lakh crore) in March, the highest on record. In April so far, FPIs have net sold shares worth $3.5 billion (`32,958 crore). FOREIGN PORTFOLIO INVESTORS (FPIS) have offloaded shares worth $19.3 billion (`1.79 lakh crore) so far in 2026, surpassing the previous record annual outflow of $18.8 billion (`1.65 lakh crore) in 2025, as per NSDL data. Since January 2025, FPIs have cumulatively sold shares worth $38.1 billion (`3.45 lakh crore) in Indian equities. Compiled by Kishor Kadam FPIs net equity investments YTD Month Jan ‘26 Feb ’26 Mar ‘26 Apr ’26* *up to Apr 24 (` crore) ($ million) 25,768 3,761 -1,25,634 -17,016 21,427 1,76,775 -755 -7,032 -1,65,501 -18,792 -1,79,348 -19,317 (` crore) K O C H I , ● Events market abuzz with success of singles’ events MEETING RIGHT ($ million) -29,487 -3,260 15,242 1,688 -1,32,144 -14,218 -3,526 -32,958 Source: NSDL, BSE K O L K A T A , L U C K N O W , VIKRAM CHAUDHARY New Delhi, April 25 THE FY26 SALES numbers are in,and while the top 10 motorcyclesareallpetrol,electricvariants are rising up the ranks whenitcomestoscooters,ledby legacy players TVS Motor and BajajAuto. Just a year ago, in FY25, the TVS iQube was at the seventh position with sales of 272,605 units, while the Bajaj Chetak trailed at eighth with 260,033 units.FastforwardtoFY26,and the iQube has surged to fourth rank, clocking 367,501 units, and the Chetak at sixth with 302,674 units sold. Automotive analysts told FE this momentum suggests that moreEVscouldenterthetop10 list in the scooter segment in FY27. “With charging infrastructurematuringandbattery costs stabilising, and with new launchessuchasYamahaRY01, scooters on the Ather EL platform, and Suzuki e-Access and BurgmanElectric,FY27islikely to see three-four electric scooters in the top 10,” theysaid. But despite this electric surge, the top three positions are still going to be petrol scooters for a long time, given N E W India, Bumble and Hyrox collaborate on singles-focused fitness ■ Singles’ event platforms such as Happy Hour report strongest traction in major metros ■ Pottery workshops, sip- ■ Restaurants, event companies TIRED OF SWIPING left and rightonascreen?Don’tfret;the emerging singles-focused and offline-meetup event space has got you.With event organisers dedicated to singles like Happy Hour and Let’s Socialise organ- and-paint nights, cooking classes attracting people seeking alone time are hosting mixers, dinners, pub crawls, speed dating meetups ising mixers and events,ticketing agencies like District facilitating participation and corporates also taking up the baton with singles-focused promo- tional events, meeting likemindedindividualshasbecome a fewdegrees easier. Tanay Baweja, founder of Happy Hour,an event platform FM urges Sebi to tackle cyber risks FINANCE MINISTER NIRMALASitharamanonSaturday urged the Securities and Exchange Board of India (Sebi) and all regulated market institutions to remain ‘exceptionallyvigilant’against emerging cyber threats.She warned that even a single successful cyberattack on a major exchange, depository, or clearing corporation could destabilise markets at a national scale. Speaking at the Sebi’s 38th Foundation Day, Sitharaman also raised concerns over the rapid spread of fake investment videos, cloned apps, and deepfakefinancialpromotions on social media. Many such frauds, she noted, impersonate public figuresandtrustedinstitutionsto mislead retail investors. The minister said the regulator views the unlicensed financial advisory space with ‘utmost seriousness’, pointing to Bill in US Cong for 3-yr pause to H-1B visa A group of Republican lawmakers have introduced a bill in the US Congress for a threeyear pause to the H1-B visa. The bill proposes reforms to the H-1B programme that include reducing the annual cap from 65,000 to 25,000 with a minimum wage of $2,00,000 per year and disallowing the visa holders from bringing dependents. ■ Page 18 focused on singles,says the rise in relevance of singles’ events can largely be attributed to the dating app fatigue across the world.“Over the past few years, Guidelines issued for `10,000-cr fund scheme for startups MUKESH JAGOTA New Delhi, April 25 formed retail investortrust for personalenrichment,”shesaid. EACH ALTERNATE INVESTMENT funds (AIF) investing in deeptech startups can at best get up to `500 crore support from the `10,000-crore StartupIndiaFundofFunds2.0 (FoF 2.0), though no limit has been set for the corpus such funds can have. Thegovernment’sowncontribution to AIFs supporting deeptech startups have been capped at 40% of the corpus of a fund, as per the operational guidelines of FoF 2.0 released on Saturday. Similarly, there is no cap on the size of AIFs investing in tech-driven innovative manufacturing startups and those supporting sector and stagespecific startups. For AIFs supportingtech-drivenandinnovative manufacturing startups, FoF support will be limited to 30% of the corpus,subject to a maximum of `200 crore per fund. Investment of AIFs supportingsectorandstage-agnostic startups has been limited to 25% of the corpus,subject to a maximum of `180 crore. Continued on Page 2 Continued on Page 2 FM Nirmala Sitharaman and Sebi Chairman Tuhin Kanta Pandey at the regulator’s foundation day in Mumbai on Saturday PTI Domestic consumption economy’s shock absorber, says Sitharaman NEW DELHI: Despite strong macroeconomicfundamentals, inflation control and robust reserves,India is witnessing fund outflows, suggesting global strategic considerations—not domestic weaknesses—are influencing investment decisions, Finance Minister Nirmala SitharamansaidonSaturday. actions taken against unregulated financial influencers, or finfluencers. “We should not tolerate monetisation of unin- Strong domestic consumptionisactingasashock absorber for India’s economy, providing resilience against global headwinds, withsustaineddemandseen as the key pillar supporting continued growth momentum,she said. Continued on Page 2 Will continue tech-led supervision,says Pandey FE BUREAU Mumbai, April 25 WHENTHE MARKETbecomes dynamic, thoughtful regulation becomes critical and calls for responsibility, said Securities and Exchange Board of India chairman Tuhin Kanta Pandey on Saturday. “Technology is reshaping trading, distribution, and advice. Capital flows are more global, and risks more inter- Says the future of regulation will demand skills such as data analytics, interdisciplinary thinking & tech D E L H I , P U N E connected,”he said,emphasising that the regulatorwill continue to invest in technologyled supervision and RACING AHEAD Scooters FY26 sales (in units) Honda Activa Motorcycles TVS Jupiter 1,987,466 Suzuki Access 125 Honda Shine 3,727,739 727, Hero Splendor 1,399,491 1, 9,49 Bajaj Pulsar TVS iQube* TVS NTorq 125 Bajaj Chetak* Suzuki Burgman Street Hero Destini 125 1,012,199 Hero HF Deluxe 571,376 TVS Apache their massive lead. In FY26, the Honda Activa sold 2,845,052 units,followed by the TVS Jupiter (1,463,328 units), and Suzuki Access 125 Honda Dio Yamaha Ray ZR (812,920units),anditwilltake significant time for electric vehicles (EVs) to touch these numbers. In fact, the Activa remains the default choice for 2,845,052 1,463,328 812,920 367,501 363,904 302,674 287,177 256,576 238,106 *EVs 231,986 Indian families, selling nearly double the volume of its nearest rival,the Jupiter. As far as motorcycles are concerned,EVs are unlikely to especially after the pandemic, there has been a clear shift towards real,in-person interactions. While dating apps continue to be widely used, many peoplearetiredofendlessswiping, low intent, and lack of meaningful engagement,”said Baweja.Headded,“Thisiswhere curatedofflineexperienceshave become relevant. At Happy Hour,we focus strongly on the quality of the audience and the overall experience.” So far they have hosted eventsinmultiplecities,including Delhi-NCR, Mumbai, Chandigarh,Bengaluru,Hyderabad, Kolkata,Pune,Jaipur,Goa, Bhopal,and more. Continued on Page 2 Much hype but no talks in Islamabad ● Araqchi leaves Pakistan,Trump cancels envoys’trip Commercial flights restart from Tehran AGENCIES Islamabad/Washington, April 25 PRESIDENT DONALD TRUMP cancelled a trip to Islamabad by two US envoys to meet Iran war mediator in Pakistan on Saturday,afterIran’sforeignminister flew out of the Pakistani capital following talks, dealing a new setback to peace prospects."Too much timewasted on traveling, too much work! Besides which, there is tremendous infighting andconfusionwithintheir‘leadership’. Nobody knows who is in charge,including them.Also,we have all the cards, they have none!Iftheywanttotalk,allthey havetodoiscall!!!"Trumpwrote inasocialmediapost. Iranian Foreign Minister Abbas Araqchi had earlier left Islamabad without signs of a breakthrough in talks with Prime Minister Shehbaz Sharif andotherseniorofficials. Tehran has ruled out a new round of direct talks with the United States, and an Iranian diplomatic source said Tehran would not accept Washington’s CAIRO: Iran resumed commercial flights from Tehran’s international airportonSaturdayforthefirst time since the conflict with the US and Israel began about two months ago. Iran’s state-run television reported that flights took off from the Imam KhomeiniInternationalAirport bound for Istanbul, Muscat and Medina. AP ‘maximalistdemands’. Araqchi"explainedourcountry’sprincipledpositionsregarding the latest developments related to the ceasefire and the complete end of the imposed war against Iran", said a statement on the minister’s official Telegramaccount. Continued on Page 2 5 new members in NITI top-deck rejig collaborate to bring innovations formarket development. India is seeing a new generation of investors that are digitally connected, informed and aspirational, he said, speaking at Sebi’s Foundation Day. “We recognise that the future of regulation will demand newskills — data analytics, technology, interdisciplinary thinking.” Continued on Page 2 Scooters picking pace on the electric route ●But bikes unlikely to go the electric way anytime soon M U M B A I , ■ Companies like Puma ANJANATHERESE ANTONY Mumbai, April 25 FPIs drop record shares in ‘26 YTD 2021 2022 2023 2024 2025 2026* H Y D E R A B A D , ● Asks for simpler KYC norms, launches Mission Jagrook From apps to AI-plugins and real-time feedback systems, how artistes are employing digital tools to practise and perform Indian classical music Year READ TO LEAD It’s happening & hot,and it’s reserved for singles SREYA DEB New Delhi, April 25 ■ SPOTLIGHT, P6-7 C H E N N A I , Goldman Sachs ex-CEO offers an inside look at the 2008 financial crisis Page 4 become mass sellers anytime soon, given the sheer dominance of models such as the Hero Splendor (which sold 3,727,739 units), and Honda Shine (1,987,466 units). But while these two commuter motorcycles are at the top, the aspirational segment is also rising, with the Bajaj Pulsar (variants from 125 cc to 350 cc) at the third position, with sales of 1,399,491 units. In addition, there are two Royal Enfield 350-cc bikes in the top 10 – the Classic 350 at the seventh position (410,347 units sold),and the Bullet 350 at ninth (255,699 units). Continued on Page 2 Prime Minister Narendra Modi meeting newly-appointed NITI Aayog vice-chairman Ashok Lahiri on Saturday PMO VIA PTI FE BUREAU New Delhi, April 25 THE GOVERNMENT HAS overhauled the top deck of the NITI Aayog, appointing Bharatiya Janata Party leader and former chief economic adviserAshok Kumar Lahiri as vice-chairman. Other four new members include economist KV Raju, AIIMS directorM Srinivas,scientist Gobardhan Das and Abhay Karandikar, secretary, department of science and technology. Former cabinet secretary Rajiv Gauba, who joined the think tank last year, has been retained. Prime Minister Narendra Modi on Saturday wished a productive and impactful tenure to Lahiri and the new full-time members."The government has reconstituted the NITI Aayog. My best wishes to Shri Ashok Kumar Lahiri Ji on becoming the Vice Chairman. Wishing all of them a productive and impactful tenure ahead,"Modi posted on X. The PM said the NITIAayog has emerged as a vital pillar in India’s policy-making architecture, fostering cooperative federalism,furtheringreforms and boosting‘ease of living’."It serves as a dynamic platform for innovation and long-term strategic thinking across sectors,"he said. Continued on Page 2 Lucknow