Best of the Week: Readers, help us shape the future of Mint

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On to Mint's best stories from this week:

🇮🇳 🤝 🇺🇸 India and the US are set to negotiate a major trade agreement by September, spurred by US President Donald Trump's demands for lower Indian tariffs and threats of reciprocal tariffs. Trump aims to balance the $45.7 billion trade deficit by urging India to import more US goods like petroleum and defence equipment. During Indian Prime Minister Narendra Modi's recent US visit, both leaders targeted increasing bilateral trade to $500 billion by 2030. Trump has already imposed a 25% tariff on several imports, including cars and pharmaceuticals, pressuring India to adjust its tariff strategy. Mint contributor Tina Edwin writes that these tariffs could significantly impact India's exports to the US, especially as India's current tariffs are among the highest compared to the US' major trading partners.

🛕 🤳 The Maha Kumbh Mela in Prayagraj has presented unique challenges for social media influencers, particularly when creating commercial content. Despite the vibrant scenes and massive engagement on platforms like Instagram, where nearly 12 million posts were made, the practical difficulties of capturing content have made the task arduous for influencers. Crowded conditions and strict brand demands have compounded the difficulties, with influencers going to lengths such as arriving at locations at midnight to secure the perfect shot for a modest fee of ₹2,000-3,000 per video, Pratishtha Bagai reports. The situation worsened after a tragic stampede at the event caused some brands to retract their campaigns, further complicating the influencers' efforts to meet commercial expectations.

🍗 Prasuma, a company known for its niche position in India’s ₹10,000 crore frozen meat and ready-to-cook market, is being acquired by ITC Ltd in stages, with the deal totalling about ₹187 crore, which will eventually give ITC a 62.5% stake by 2027. The Gurugram-based Prasuma, which specializes in momos and other pan-Asian snacks, and its subsidiary Meatigo, known for pork-based products, are valued at just under ₹300 crore. ITC's acquisition aims to bolster its position in the frozen foods market, complementing its existing portfolio under the ITC Master Chef brand launched in 2017, Soumya Gupta reports. In the broader context, this acquisition reflects a trend where major FMCG companies are strategically acquiring niche brands to diversify their portfolios and solidify their market presence without pursuing outright buyouts. 

💊 A high-stakes legal battle is unfolding in Texas between IT giants Cognizant and Infosys, with accusations of trade secret theft, contract breaches, and employee poaching. This showdown began when Cognizant accused Infosys of stealing trade secrets linked to a healthcare insurance software, which Infosys has denied. Infosys, in fact, has counterclaimed, accusing Cognizant's CEO, Ravi Kumar, a former Infosys president, of using confidential information to compete against Infosys unfairly. Infosys alleges Kumar delayed the development of the company's Helix project to benefit Cognizant. The lawsuit is not just a personal vendetta; it's a fight over the lucrative healthcare sector, where both companies see significant growth opportunities. The healthcare sector, where IT services have become increasingly crucial, involves vast amounts of spending due to its complexity and the critical nature of its services. With the US spending about 17% of its GDP on healthcare, IT companies are vying for a piece of this market to provide services that enhance efficiency and patient care. 

🛻 India's vehicle scrappage policy is creating a unique market dynamic, blending environmental goals with financial incentives. Here's a streamlined view of how it works: When you scrap your old car, you not only receive its scrap value—typically around ₹20,000—but also a certificate that can be sold on DigiELV.com. This certificate, which can fetch between ₹20,000 and ₹35,000, effectively raises your total earnings to about ₹50,000. Buyers of these certificates, which can be new car buyers or dealers, use them to gain significant road tax discounts on new vehicles. For instance, in Rajasthan, the scrapping certificate can slash ₹2.5 lakh off the road tax on a new ₹1 crore luxury car. This is because the certificate provides a 25% rebate on the state's 10% road tax. Nehal Chaliawala reports on this system, which not only incentivizes the scrapping of older, more polluting cars but also fosters a secondary market where certificates enhance vehicle affordability. 

🎮 India is moving toward a unified regulatory framework for its online gaming industry, aiming to streamline the existing patchwork of state-level regulations. The home ministry, in collaboration with other ministries and industry stakeholders, is exploring the distinction between gaming and gambling to address legal ambiguities that allow gambling apps to masquerade as gaming platforms. This push for a single law emerges amid growing recognition of the Indian gaming industry's potential to attract foreign investment and the need for regulatory clarity to empower the Financial Intelligence Unit (FIU) to address offshore entities effectively, Shouvik Das reports. The proposed framework seeks to simplify the taxation of online gaming companies and control offshore online gaming and betting, potentially linked to money laundering.

🦤 India's exotic wildlife trade is surging, driven by demand for rare animals as status symbols and for their perceived medicinal benefits. Trafficking incidents, like the discovery of malnourished kangaroos in West Bengal, highlight the audacity and scale of this illegal activity. In response, the environment ministry has set deadlines for registering exotic species to crack down on unauthorized trade. Authorities report a significant increase in the trading of exotic pets, with over 19,000 animals seized in 2023 alone. These animals, often invasive species like the red-eared slider turtle in Kerala, disrupt local ecosystems and compete with native wildlife. To combat this illegal trade, India is ramping up regulations and enforcement, Neha Bhatt reports. This includes public awareness campaigns aimed at reducing demand and promoting responsible pet ownership. Efforts focus on curbing the black market and encouraging a greater appreciation for native wildlife, addressing both ecological risks and legal infractions.

📈 The Indian government plans to accelerate investment in newly announced funds by providing capital support early in FY26. This initiative aims to stimulate economic activity and encourage private sector participation. The strategy includes a ₹25,000 crore Maritime Development Fund (MDF) and a new ₹10,000 crore Fund of Funds for startups, Rhik Kundu and Subhash Narayan report. These funds, some in partnership with the private sector, are expected to drive sectoral development and enhance economic momentum by attracting private investments, such as from corporations and ports. Significant allocations from the Union budget, such as ₹40,000 crore earmarked for these purposes, will be disbursed to ensure timely project execution. The government’s previous Fund of Funds, established in 2016, has already mobilized substantial private capital, illustrating the potential impact of these initiatives.

🦅🦅 Donald Trump's return as the 47th president of the US has been marked by aggressive policy changes and executive orders in his first month. He has significantly altered US global trade policies, implemented stringent immigration controls, and made moves to renegotiate international agreements. With a majority in both the House and Senate, Trump has issued a record 65 executive orders, spanning the Paris Climate Agreement to birthright citizenship. His policies have sparked legal challenges and fears of a trade war due to new tariffs on imports, particularly affecting countries like Canada, Mexico, and China. Domestically, Trump's actions have raised inflation concerns, with measures that could push the US economy towards recession. His approach to foreign policy includes controversial propositions such as acquiring foreign territories and renegotiating the end of the Ukraine war, bypassing traditional diplomatic channels. Mint takes a look at all the major decisions the 47th POTUS took in his first 30 days. 

💸 When switching jobs, it's essential to transfer both your Provident Fund (PF) and your contributions under the Employees' Pension Scheme (EPS) to avoid complications during withdrawal. Employers contribute 12% of an employee’s salary to the provident fund system, dividing this between the EPS (8.33%) and the Employee Provident Fund (EPF). Challenges arise when EPS contributions from different employers are not merged, which can block the withdrawal process. This is particularly problematic if your total service period is less than 10 years, as you need to merge all EPS contributions into one account to withdraw. If you have more than 10 years of service, you cannot withdraw but must apply for a pension scheme certificate for future benefits. For smooth fund management, ensure all past PF and EPS accumulations are transferred to the new employer’s fund each time you change jobs. This helps maintain continuity and eligibility for EPS benefits, avoiding future complications. Read more Mint Money articles to stay ahead in your personal finance game.

That's all for this week. I hope you have a pleasant weekend!

If you have any feedback, want to talk about food, or have anything else to say about our journalism, write to me at siddharth.sharma1@htdigital.in or reply to this mail. You can also write to feedback@livemint.com.

Best,

Siddharth Sharma

Community Editor