Starlink, Polluted Cities, Guns N' Roses

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It’s March 12. Today, we’re covering Starlink’s India entry, India’s most polluted cities, and Guns N’ Roses’ return to Mumbai. Plus, job openings at Trilegal, Flipkart, Licious, and more in Who’s Hiring at the end.

Policy & Governance

> Maharashtra Scales Back Welfare Spending Amid Record Debt
Maharashtra’s latest budget reflects its highest-ever debt projection of ₹9.3 lakh crore and a steep revenue deficit of ₹45,891 crore for FY 2025-26. Facing financial constraints, the state has stalled a proposed farm loan waiver and reduced funding for the Majhi Ladki Bahin Yojana, with its outlay cut by ₹10,000 crore from last year. The stipend hike promised in the ruling party’s manifesto—from ₹1,500 to ₹2,100 per month—has also not been approved. (Economic Times)

> Immigration Overhaul Proposed in Parliament
The government has introduced the Immigration and Foreigners Bill, 2025, aiming to replace colonial-era laws with stricter immigration controls. The bill proposes enhanced national security measures, tighter entry and stay conditions, and mandatory registration for foreigners upon arrival. It also grants the government power to deny entry or residence to those deemed a threat to national security. (Economic Times)

> Trump Pressures India to Cut Tariffs in Trade Talks
U.S. President Donald Trump is pushing India to lower its long-standing high tariffs as part of ongoing trade negotiations. Commerce Minister Piyush Goyal was in Washington last week to discuss a potential deal, with Trump claiming India has agreed to reduce tariffs "way down." Analysts suggest this could signal a broader shift in India's trade policy. (Financial Times)

> 169-Year-Old Shipping Law Updated
The Lok Sabha has passed the Bills of Lading Bill, 2025, replacing shipping laws dating back to 1856. The bill modernizes legal language, restructures provisions, and aligns India's maritime laws with global standards. It aims to streamline shipping practices, enhance security, and remove outdated colonial-era regulations. (Economic Times)

Business

> IndusInd Bank Plummets 27%
IndusInd Bank shares crashed 27% on Tuesday, their biggest single-day drop ever, after the lender revealed accounting errors in its forex derivatives book. The stock hit a 52-week low, wiping out nearly ₹19,052 crore in market value. The bank estimates a 2.35% hit to its net worth (₹1,577 crore) due to the misreported forex trades. (India Today)

> Adani Group Wins Rs 36,000 Crore Bid for Redevelopment in Mumbai
The Adani Group has won the Rs 36,000 crore bid for the redevelopment of Motilal Nagar in Mumbai, one of the city’s largest housing projects spanning 143 acres in Goregaon (W). This marks its second major redevelopment project in Mumbai, following the Dharavi revamp. (NDTV)

> Retail Investors Pull Back as Market Decline Continues
Eight of India’s top 10 brokerage firms saw a drop in active investors in February after five consecutive months of market correction. Market leader Groww lost over 2.2 lakh active investors—the first decline since March 2023. Zerodha and Angel One also saw declines, while only HDFC Securities and Dhan recorded growth. (Moneycontrol)

> Karnataka Passes Bill to Regulate E-Commerce Platforms
The Karnataka assembly has passed a bill requiring e-commerce platforms like Amazon, BigBasket, and D-Mart to pay a cess to local mandis when selling staples such as rice, flour, fruits, and vegetables. The Karnataka Agricultural Produce Marketing (Regulation and Development) (Amendment) Bill also mandates that platforms trading in notified agricultural produce must obtain a license and extends regulations to warehouse service providers and dark stores. (Moneycontrol)

Tech, Media & Telecom

> Airtel to Bring Starlink Internet to India
Bharti Airtel has signed a deal with Elon Musk’s SpaceX to launch Starlink satellite internet services in India, pending regulatory approval. Starlink has faced delays in entering the Indian market due to spectrum allocation disputes with Jio, but the government has backed Musk’s stance that spectrum should be assigned rather than auctioned. The partnership will focus on providing satellite internet to businesses, schools, healthcare centers, and remote areas. (Reuters)

> Coinbase Returns to India
Coinbase, the largest U.S. cryptocurrency exchange, is re-entering India after securing approval from the Financial Intelligence Unit. The move signals a potential easing of India's strict stance on crypto, following strong support for digital assets from Donald Trump. Coinbase plans to launch retail services this year before expanding into investment products. (Financial Times)

> India’s Web3 Developer Base Poised to Surpass US by 2028
India contributed 17% of new developers entering the Web3 space in 2024 and is on track to overtake the US as the world's largest developer community by 2028, according to a report by Web3 VC firm Hashed Emergent. Despite regulatory uncertainty, India already has the second-largest crypto developer base, with 11.8% of global developers in the sector. (Moneycontrol)

> Citizens Rescued from Scam Centers
India has repatriated nearly 300 nationals who were trafficked to Southeast Asian countries, including Myanmar, under false job offers and forced to participate in cyber scams. This is part of a broader crackdown on scam compounds along the Thailand-Myanmar border, where thousands have been freed this year. (Reuters)

> Infinite Uptime Raises $35M for AI-Powered Predictive Maintenance
Infinite Uptime, a Pune-based industrial tech startup, has secured $35 million in Series C funding to expand globally, including in the U.S. The company helps factories optimize equipment usage through predictive maintenance, using proprietary sensors, AI-driven analytics, and a smart dashboard for real-time monitoring. Its technology aims to reduce downtime and improve operational efficiency. (TechCrunch)

Environment

> India Dominates List of World’s Most Polluted Cities
Thirteen of the world’s 20 most polluted cities are in India, with Byrnihat (Assam) ranked the worst globally, according to the 2024 World Air Quality Report by IQAir. Delhi remains the world’s most polluted capital, while India dropped to the fifth most polluted country (from third in 2023). Air pollution continues to be a major health risk, cutting life expectancy in India by an estimated 5.2 years. (NDTV, IQAir)

Quick Hits

> Fewer Indian students are heading abroad, with a 15% overall drop in 2024. Canada saw the biggest decline (41%), while Russia saw a 34% increase. 

> Navi Mumbai International Airport plans an exclusive terminal for celebrities, billionaires, and top politicians, set to be developed by 2030.

> Lord’s will earn nearly £4 million less (₹45 crore) from the ICC World Test Championship final as India’s absence dampens expected revenues.

> India is the world’s second-largest arms importer after Ukraine, though its arms imports fell 9.3% between 2015-19 and 2020-24.

> Guns N’ Roses will perform in India after 12 years, with a concert at Mumbai’s Mahalaxmi Racecourse on May 17.

> Indian Legal Services officer Dr. Anju Rathi Rana has become the first woman to be appointed as the Secretary of the Department of Legal Affairs.

> Travel hostel company goSTOPS raised Rs 35 crore in a Series A round, aiming to expand its capacity from 2,500 to 10,000 beds.

> The Centre has notified the elevation of Calcutta High Court judge Justice Joymalya Bagchi to the Supreme Court.

Worth a Look

ESPN breaks down Rohit Sharma’s captaincy with stunning stats—he’s won 23 of India’s last 24 matches in ICC men’s limited-overs tournaments. The Hitman’s dominance in numbers is awe-inspiring.

Who’s Hiring

> Trilegal is hiring for its Digital Innovation Group—a great role for lawyers who want to work as in-house product managers for legal tech tools.

> Super Money by Flipkart is hiring product managers and is open to considering candidates without product experience.

> Flipkart Fashion is hiring managers in its category team (MBA graduates preferred).

> Newton School is hiring a product marketing manager and content manager to help with growth.

> Licious is hiring a legal executive to help with contract review, compliance, and intellectual property.

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