Business
Newsdesk
21 MAR 2025 | 14:56:40
X challenges Indian Govt, Bajaj-Allianz breakup, carmakers hike prices & Zepto’s Apple tie-Up | Weekly business news wrap
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X takes on the Indian government, Bajaj and Allianz part ways, and top automakers hike prices yet again. Plus, Zepto teams up with Apple for ultra-fast deliveries! Here’s your weekly business news wrap with Avni Raja.
Its been a news heavy week….from Elon Musk’s X challenging the Indian govt’s use of the IT Act to a big partnership coming to an end with Bajaj and Allianz parting ways and top automakers hiking prices! There’s lots to cover!
The top story this week – Elon Musk’s social media platform, X, has sued the Government of India. In a petition filed in the Karnataka High Court, X has challenged the government’s use of the Information Technology Act to block content, arguing that it harms the platform’s operations in India and enables arbitrary censorship. According to a Hindustan Times report, X contends that the government is misinterpreting Section 79(3)(b) of the Act to issue takedown orders. This, the social media platform argues, bypasses the legal framework under Section 69A, which the Supreme Court has recognised as the only valid mechanism for blocking online content. Meanwhile, the Indian government has sought a response from X regarding its AI chatbot, Grok, using Hindi slang and abusive language in responses. Reports suggest that the Ministry of Electronics and Information Technology has asked X for details on the datasets used to train Grok.
German financial powerhouse Allianz is officially exiting its joint venture with the Bajaj Group.The company has signed a deal with Bajaj Finserv to sell its 26% stake in Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance, bringing an end to a partnership that began at the turn of the century. Allianz will receive ₹13,780 crore for its general insurance stake and ₹10,400 crore for its life insurance stake. Once the transaction is completed, Bajaj Group’s ownership in both firms will increase from 74% to 100%. However, this is subject to approvals from the Competition Commission of India (CCI) and the insurance regulator. But why has Allianz ended its alliance with Bajaj? According to media reports, the exit follows years of unsuccessful attempts to increase its stake in the joint venture. Some reports also suggest that Allianz is eyeing a potential tie-up with Mukesh Ambani’s Jio Financial Services for both life and general insurance.
A top-level exodus is underway at India’s largest two-wheeler manufacturer, Hero Moto. According to reports, several senior executives have resigned from the company in recent days. Among them is Reema Jain, the Chief Information and Digital Officer. Additionally, key executives from the HR department and several Heads of Business have also stepped down. These resignations follow the departures of CEO Niranjan Gupta and Chief Business Officer, both of whom resigned in February. The wave of exits comes in the wake of a mid-February town hall, where nearly 5,000 employees gathered. During the meeting, Hero Moto’s executive chairman, Pawan Munjal, reportedly issued a stern warning about employee performance, stating that he “had his eyes on everyone.”
Staying with the auto sector—your dream car just got pricier yet again. For the third time in 2025, Maruti Suzuki is raising prices, this time by up to 4% from April. If you had your eye on a Swift, Brezza, or Fronx, be prepared to pay more. And Maruti isn’t alone—other carmakers are following suit. Tata Motors has also announced its third price hike this year, effective from 1st April. While the company hasn’t disclosed the exact increase, it has stated that the hike will vary across models and variants. Hyundai Motor India has also decided to raise car prices by up to 3% from April 2025. Why are carmakers making their vehicles more expensive? Rising input costs, supply chain issues, and global inflation are driving the decision.
In the startup world, quick commerce major Zepto has entered into an agreement with tech giant Apple to deliver its products through its 10-minute delivery platform. As part of this partnership, some of Apple’s latest products, including the iPhone 16e, AirPods 4, and the newest iPads, are already available on Zepto. However, deliveries are currently limited to select locations. Zepto’s move follows a similar push by its quick commerce rivals, Swiggy Instamart and Blinkit. Just a couple of weeks ago, Swiggy Instamart began selling Apple products such as iPhones, MacBook Air, and Apple Watches on its platform.
The top story this week – Elon Musk’s social media platform, X, has sued the Government of India. In a petition filed in the Karnataka High Court, X has challenged the government’s use of the Information Technology Act to block content, arguing that it harms the platform’s operations in India and enables arbitrary censorship. According to a Hindustan Times report, X contends that the government is misinterpreting Section 79(3)(b) of the Act to issue takedown orders. This, the social media platform argues, bypasses the legal framework under Section 69A, which the Supreme Court has recognised as the only valid mechanism for blocking online content. Meanwhile, the Indian government has sought a response from X regarding its AI chatbot, Grok, using Hindi slang and abusive language in responses. Reports suggest that the Ministry of Electronics and Information Technology has asked X for details on the datasets used to train Grok.
German financial powerhouse Allianz is officially exiting its joint venture with the Bajaj Group.The company has signed a deal with Bajaj Finserv to sell its 26% stake in Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance, bringing an end to a partnership that began at the turn of the century. Allianz will receive ₹13,780 crore for its general insurance stake and ₹10,400 crore for its life insurance stake. Once the transaction is completed, Bajaj Group’s ownership in both firms will increase from 74% to 100%. However, this is subject to approvals from the Competition Commission of India (CCI) and the insurance regulator. But why has Allianz ended its alliance with Bajaj? According to media reports, the exit follows years of unsuccessful attempts to increase its stake in the joint venture. Some reports also suggest that Allianz is eyeing a potential tie-up with Mukesh Ambani’s Jio Financial Services for both life and general insurance.
A top-level exodus is underway at India’s largest two-wheeler manufacturer, Hero Moto. According to reports, several senior executives have resigned from the company in recent days. Among them is Reema Jain, the Chief Information and Digital Officer. Additionally, key executives from the HR department and several Heads of Business have also stepped down. These resignations follow the departures of CEO Niranjan Gupta and Chief Business Officer, both of whom resigned in February. The wave of exits comes in the wake of a mid-February town hall, where nearly 5,000 employees gathered. During the meeting, Hero Moto’s executive chairman, Pawan Munjal, reportedly issued a stern warning about employee performance, stating that he “had his eyes on everyone.”
Staying with the auto sector—your dream car just got pricier yet again. For the third time in 2025, Maruti Suzuki is raising prices, this time by up to 4% from April. If you had your eye on a Swift, Brezza, or Fronx, be prepared to pay more. And Maruti isn’t alone—other carmakers are following suit. Tata Motors has also announced its third price hike this year, effective from 1st April. While the company hasn’t disclosed the exact increase, it has stated that the hike will vary across models and variants. Hyundai Motor India has also decided to raise car prices by up to 3% from April 2025. Why are carmakers making their vehicles more expensive? Rising input costs, supply chain issues, and global inflation are driving the decision.
In the startup world, quick commerce major Zepto has entered into an agreement with tech giant Apple to deliver its products through its 10-minute delivery platform. As part of this partnership, some of Apple’s latest products, including the iPhone 16e, AirPods 4, and the newest iPads, are already available on Zepto. However, deliveries are currently limited to select locations. Zepto’s move follows a similar push by its quick commerce rivals, Swiggy Instamart and Blinkit. Just a couple of weeks ago, Swiggy Instamart began selling Apple products such as iPhones, MacBook Air, and Apple Watches on its platform.
A big update for digilocker users…Starting April 1, 2025, your mutual fund statements, demat holdings, and consolidated account statements can live right inside your DigiLocker. The aim? To minimize unclaimed financial assets by allowing investors to fetch their holdings directly into their accounts. A standout feature? The platform will now automatically notify your nominees in case of your passing, making it easier for them to access and claim assets from AMCs or brokers. So if you still don’t use digilocker, this is one more big reason to start.
Here's a big update from the pharma space…Eli Lilly’s blockbuster drug Mounjaro, that has already taken the U.S. by storm, transforming the weight-loss and diabetes game, has officially landed in India.
This once-a-week injection is now available at 4,375 rupees per 5mg dose, translating into a cost of 14,000 to 17,5000 rupees per month...that's way lower than the $1,000/month it costs in the U.S.
It’s not cheap—but demand for weight-loss drugs is booming and competition is increasing with the total market estimated to be worth $150 billion in the next decade.
Here's a big update from the pharma space…Eli Lilly’s blockbuster drug Mounjaro, that has already taken the U.S. by storm, transforming the weight-loss and diabetes game, has officially landed in India.
This once-a-week injection is now available at 4,375 rupees per 5mg dose, translating into a cost of 14,000 to 17,5000 rupees per month...that's way lower than the $1,000/month it costs in the U.S.
It’s not cheap—but demand for weight-loss drugs is booming and competition is increasing with the total market estimated to be worth $150 billion in the next decade.
Before I wrap up, a quick update on the market action this week. After weeks of red, the markets staged an smart recovery. The Nifty and Sensex were up over 3% each. While midcap and smallcap indices outperformed, it was the banking and pharma sectors that powered the rally. One reason for this bounce back was a relief rally in global markets due to US President Trump not making any fresh tariff related announcements. On the domestic front, recent macro-economic prints have boosted investor confidence that India’s growth story remains intact as well as expectations of further rate cuts by the RBI fuelled the momentum. However, experts remain cautious and warn that such relief rallies can occur when markets are weak.
