Money Laundering, IPL Revenue, Monsoon

Welcome to 1947—your sharp, no-nonsense guide to India’s most important news.

It’s April 16. Today: chargesheets against Sonia and Rahul Gandhi, IPL’s revenue surge, and a promising monsoon forecast. Plus, job openings at Alt Carbon, Ultrahuman, Bain, and more in Who’s Hiring.

Policy, Governance & Regulation

> ED Chargesheets Sonia, Rahul Gandhi in National Herald Case
The Enforcement Directorate has filed its first chargesheet against Sonia Gandhi, Rahul Gandhi, and Sam Pitroda in the National Herald money laundering case. The ED alleges the Gandhis used Young Indian Pvt Ltd—where they each hold a 38% stake—to acquire Associated Journals Ltd. properties worth over ₹2,000 crore for just ₹50 lakh, later generating bogus income via donations, rent, and ads. A Delhi court will hear the case on April 25. (NDTV, Hindustan Times)

> India Sets Up Import Monitoring Cell Amid Fears of China Goods Surge 
The government has formed an inter-ministerial group to monitor potential import surges, as US tariffs on China and others may divert goods to India. Officials also flagged concerns over Chinese retaliatory tariffs pushing more US farm exports into the country. The commerce ministry said it will consider anti-dumping or safeguard duties if abnormal spikes are detected. (Economic Times)

Health & Environment

> Above-Average Monsoon Forecast for 2025 Spurs Growth Hopes
India is expected to receive above-average monsoon rainfall for the second year in a row, according to the government. The June–September rains—critical for nearly half the country’s rain-fed farmland—are forecast at 105% of the long-term average. A strong monsoon could boost crop yields, ease food inflation, and support exports, particularly of rice. (Reuters)

> Delhi Launches Tree Census to Boost Green Cover, Track Carbon Storage
India’s Forest Research Institute has begun a four-year tree census across Delhi, following a Supreme Court order amid concerns over illegal tree felling. The over $516,600 project will catalog each tree’s species, size, health, location, and carbon mass to help boost the city’s green cover and inform climate efforts. (DW)

> Mounjaro Launch Sparks Surge in Weight-Loss Interest
The India launch of Eli Lilly’s blockbuster weight-loss drug Mounjaro has sparked a flood of patient enquiries, with some doctors fielding hundreds of calls, according to Reuters. The once-weekly injectable, now approved by India’s drug regulator, is priced at ₹4,375 for a 5mg dose—putting monthly costs at around $200. Patients had previously relied on overseas channels to access the drug. (Reuters)

Business

> Manufacturing Dreams Hit Structural Roadblocks
Despite $26B in production-linked incentives and a push to lure companies away from China, India’s manufacturing ambitions are faltering. The sector’s share of GDP has dropped below 13%—down from 15% a decade ago and far behind East Asian peers (~25%). Key hurdles include high input costs, land prices, talent shortages, poor access to credit, inconsistent policies, and a sluggish, unpredictable legal system that disadvantages small firms. India had aimed to create 100M manufacturing jobs by 2022, but the momentum has yet to materialize. (New York Times)

> Markets Bounce Back, Erase Post-Tariff Losses
Stocks surged Tuesday as trading resumed after a long weekend, with the Nifty 50 climbing up to 2.4% and recovering all losses from Trump’s April 2 tariff announcement. Investors are positioning India as a relative safe haven amid global trade turmoil, citing the country’s large domestic economy and resilience against a potential global recession. (Bloomberg)

> US Tariffs on China Create Openings for India in Low-End Exports
As US tariffs on China reshape global trade, India has a chance to attract small manufacturers in sectors like vacuum flasks, festive goods, and basic home appliances—areas where supply chains are simpler and US dependence on China is high. While India has made progress in attracting Apple suppliers, analysts caution that high-end tech isn’t the near-term opportunity. The real win could lie in becoming the default base for China’s low-cost exporters now looking to relocate. (Financial Times)

Tech, Media & Telecom

> IPL 2025 Ad Revenue Projected to Hit $600M
Advertising revenue for IPL 2025 is expected to hit $600 million—up 50% from last year—thanks to Reliance’s JioStar merger, which consolidated TV and digital rights under one roof. Analysts say the unified strategy has improved targeting and monetization across a 500M-strong audience. (Economic Times)

> UPI Eyes 300M New Users 
The NPCI is planning to onboard 200–300 million more users onto the UPI network by targeting underbanked segments such as children and household staff. CEO Dilip Asbe said the aim is to “break their cash memory” through delegated accounts and expand global adoption. UPI already serves 450M+ users and continues to reshape daily payments. (Bloomberg)

Quick Hits

> Andhra Pradesh has allotted 21 acres to TCS in Vizag for just 99 paisa, aiming to position the city as a major tech hub. 

> NPCI blamed repeated “Check transaction” API requests by banks and merchants for UPI’s April 12 outage—its fourth in three weeks.

> Swiggy has launched Pyng, an AI-powered app that connects users with verified professionals across 100+ services, marking its entry into the professional services space.

> London’s oldest Indian restaurant, Veeraswamy, may shut down just before its 100th anniversary after the Crown Estate declined to renew its lease.

> A temple procession shut down Thiruvananthapuram airport as chariots and elephants marched across the runway for Kerala’s annual Painkuni festival.

Worth a Look

​A. R. Rahman dropped a new Tamil song to celebrate Puthandu, the Tamil New Year, which falls on April 14. Nothing like a bit of Rahman to brighten a midweek lull.

Who’s Hiring

> Alt Carbon, a climate action company, is hiring across roles, including Founder’s Office, General Counsel, and Product Development.

> Inuka Capital, a new, early-stage VC firm, is hiring a founding team member.

> Ultrahuman is hiring a General Manager - Asia.

> Volvo is hiring a Lead Legal & Compliance Counsel.

> Bain is hiring an Analyst - Corporate Finance CoE.

Social Spotlight

> Faye D’Souza explains some little-known facts about real estate challenges in Bengaluru.

> Fund utilization by BluSmart CEO Anmol Singh Jaggi raises questions, as the company plans to end its cab service.

> A chart shows how middle-class wages have stagnated in India over the past decade.

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