Sensex, Health Crisis, Kevin Hart

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

It’s April 8. Today: the Sensex crashes on tariff fears, Apollo flags a hidden health epidemic, and Kevin Hart heads to India. Plus, job openings at Trilegal, JPMorgan Chase, Qualcomm, and more in Who’s Hiring.

Policy, Governance & Regulation

> Government Hikes Excise Duty on Petrol, Diesel by ₹2/Litre
The government has raised excise duty on petrol and diesel by ₹2 per litre, citing falling global oil prices. Retail prices will remain unchanged for consumers, as the hike offsets the expected price cut. Global oil prices have dropped to their lowest since April 2021 amid US-China trade tensions and recession fears. (Moneycontrol)

> US Clears Way for 26/11 Accused’s Extradition to India
The US Supreme Court has rejected Tahawwur Hussain Rana’s plea to block his extradition to India, where he faces charges for aiding reconnaissance efforts in the 2008 Mumbai terror attacks. Rana, a Canadian national of Pakistani origin, is accused of assisting David Coleman Headley, one of the key operatives behind the attacks. He is currently held in Los Angeles and will be extradited under the 1997 India-US Extradition Treaty. (Indian Express)

Health & Environment

> Apollo Warns of ‘Hidden Epidemic’ of Chronic Illnesses
Apollo Hospitals’ latest Health of the Nation 2025 report reveals a surge in chronic conditions across India: 65% have fatty liver, 46% show silent heart issues, and 28% of college students are obese. Based on health screenings of over 2.5 million people, the report flags three urgent public health challenges—fatty liver disease, rising obesity among youth, and deteriorating health in post-menopausal women—urging a shift from reactive to preventive care. (Fortune India)

> Novo Nordisk Plans Early India Launch of Wegovy
Sources say Novo Nordisk is accelerating plans to launch its blockbuster weight-loss drug Wegovy in India this year—likely within months—to compete with Eli Lilly, which introduced Mounjaro in the country last month. Both drugs, part of the GLP-1 class, have seen soaring global demand for their effectiveness in controlling weight and blood sugar. (Reuters)

Business

> Markets Tumble as US-China Trade War Fears Escalate
Indian markets had their worst day in 10 months on Monday, with the Sensex plunging nearly 3,000 points and the Nifty 50 falling over 3.2%. The selloff was triggered by fears of a global trade war after U.S. President Trump hiked tariffs and China retaliated with 34% levies on U.S. goods. Analysts say market performance now hinges on whether tensions ease—or escalate further. (Reuters, NDTV)

> EU Pressures India to Cut Car Import Tariffs in Trade Deal Push
Sources say the European Union is pushing India to eliminate car import tariffs as part of ongoing trade negotiations, following similar demands from the US. India is reportedly open to a phased reduction from over 100% to 10%, despite resistance from local automakers who want duties to stay above 30% and EV tariffs untouched for four more years. (Reuters)

> Air India Begins Jet Overhaul to Win Back Passengers
Air India has launched a major revamp of its aging fleet, starting with a retrofit of 27 Boeing 787-8 Dreamliners by early 2027, followed by older 777s. The upgrade is part of a broader turnaround plan aimed at improving passenger experience and tapping into India’s fast-growing travel market. (Business Standard)

Tech, Media & Telecom

> Apple Taps India to Offset Tariffs, Rushes iPhone Shipments to US
To beat the new 10% US import tariff, Apple flew five planeloads of iPhones and other products from India and China to the U.S. in just three days at the end of March. Sources say the company is also ramping up India-based production to 25 million units this year, and may redirect more of these to the US to cut costs. Analysts estimate the China tariff could add $300 to the hardware cost of an iPhone 16 Pro—making India, where duties are lower, a key part of Apple’s mitigation strategy. (Wall Street Journal, Times of India)

> Ola Counted Undelivered EVs in Sales Tally, Inflating February Numbers
Ola Electric included bookings for unreleased electric motorcycles and yet-to-be-delivered scooters in its February sales figures, boosting its reported numbers to over 25,000 units. Internal documents show nearly half of these were not delivered, with actual government registrations at just 8,600. The move comes as the company tries to regain investor confidence ahead of its IPO. (Bloomberg)

Quick Hits

> Police arrested a 24-year-old American YouTuber for illegally visiting North Sentinel Island and attempting to contact the isolated Sentinelese tribe.

> Commerce Minister Piyush Goyal announced a multilingual helpline for Indian startups to raise complaints or share suggestions with the government.

> boAt’s parent, Imagine Marketing, has confidentially filed draft IPO papers, aiming for a valuation of over $1.5 billion.

> Payments firm Juspay raised a $60 million Series D led by Kedaara Capital, with participation from SoftBank and Accel.

> Payments aggregator Easebuzz raised a $30 million Series A led by Bessemer Venture Partners to expand its offline payment solutions.

> Edtech startup SiglQ.ai raised a $9.5 million seed co-led by The House Fund and GSV Ventures to build AI-powered personalized learning tools.

> Comedian Kevin Hart will perform in India for the first time on April 30 at Delhi’s Indira Gandhi Indoor Stadium.

Worth a Look

BBC Earth’s new video, The Magical Pools of Mumbai, explores zoanthids—tiny, fluorescent organisms that light up the city’s coastal waters at night.​

Who’s Hiring

> Trilegal is hiring a Corporate Lawyer.

> boAt is hiring for Strategy & Operations roles.

> Google is hiring a Product Manager, Play Games.

> JPMorgan Chase is hiring a Legal Counsel - Office of Legal Obligations.

> Qualcomm is hiring a Chief of Staff to the President of Qualcomm India.

Social Spotlight

> An investor analyses the factors that impact the valuations of Indian jewelry retailers, such as Caratlane and Kalyan.

> Zoho founder Sridhar Vembu shares his thoughts on how India can navigate this uncertain world order.

> An investor explains why gig workers are more than “cheap” labor.

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