From Trump's flip-flop on tariffs to JSW MG Motors' race to the top, our top stories of the week

In this week's newsletter, also read about RBI's response to global economic uncertainties, untold stories about Ratan Tata, the adventure of travelling the world in an EV and much more

By Forbes India

Published: Apr 12, 2025 10:00:00 AM IST

1) Race to the top

Rajeev Chaba, chairman emeritus, JSW MG Motor India Image: Amit Verma

In 2019, Tata Motors launched Tigor EV at less than Rs10 lakh. Its range was 213 km, and it quickly became the first modern electric car that took the passenger car mass market by storm. That was also the beginning of Tata Motors' dominance in the EV four-wheeler market. Until two years ago, Tata Motors looked invincible, cornering nearly 80 percent of the Indian EV market. In the first three months of 2025, Tata Motors' EV market share has dropped to 42 percent. Sajjan Jindal's JSW Group is making a dent with MG Motor India's crossover utility vehicle, Windsor. How is this market disruption happening? Here's a look at JSW MG Motor's resurgence, which is taking the fight to Tata Motors.

2) Trump tariffs and RBI

RBI Governor Sanjay Malhotra Image: Dhiraj Singh/Bloomberg via Getty Images

US President Donald Trump might have paused the tariff offensive for the next 90 days, and economies worldwide have been bracing, readjusting their approach to protect their growth and bring inflation down. India is not an exception. Since the 10 percent basic tariff will still be levied on all imports from India, the Reserve Bank of India's recent rate cut by 25 basis points indicates that the central bank is focusing on growth. Easing inflation concerns over the last few months has allowed the RBI to focus on perking up the Indian economy, whose growth had slowed in the last few quarters. How are experts weighing this stance change from neutral to accommodative? Here are some insights.

3) TCS Q4 results

K Krithivasan, chief executive officer of Tata Consultancy Services Ltd., speaks during a Q4 earnings news conference in Mumbai, India, on April 10, 2025. Image: Indranil Aditya/NurPhoto via Getty Images

Tata Consultancy Services (TCS), the leader of India's $254 billion IT sector, is also feeling the heat of global uncertainty. A continuing reluctance by American and European clients to spend on big tech projects, as well as US President Donald Trump's chaotic economic policies, have also further clouded the industry's outlook. As an aftermath, TCS reported weaker-than-expected results for the final quarter of FY25. The company's net profit for the three months ended March 31 fell 1.69 percent year-on-year to $1.42 billion. CEO K Krithivasan, while fielding some analyst questions on the company’s earnings call, pointed out a silver lining and said that AI for business is gaining traction. Here's an overview of the year that was for TCS.

1) Putting Ratan Tata's life on the page

Author Thomas Mathew (right) spent close to 140 hours in conversation with Ratan Tata while researching and writing the biography Image: CourtesyThomas Mathew

Author Thomas Mathew, now a retired bureaucrat, first met Ratan Tata in 1995. At the time, Mathew was the secretary to Union Minister of Industry K Karunakaran. Immaculately dressed in a suit, soft-spoken, downplaying his status, Ratan Tata caught Mathew's attention. "When you spoke with him, he made you feel as if you were the most important person in his life at that time. From then on, we kept in touch and met frequently, exchanging ideas," recalls Mathew. One such meeting in 2018 led to the biography--Ratan Tata: A Life. Read on about the book and the stories that did not appear in the pages.

2) Travelling the world in an EV

American Lexie Alford became the only person to circumnavigate the world in an electric vehicle (EV).

People still have two of the biggest apprehensions about changing to an electric vehicle: the range limits and the lack of charging infrastructure. Then there are people like Lexie Alford, bitten by the wanderlust bug, who are up for adventures. The 25-year-old set out to travel the globe in a pre-production model of the all-electric Ford Explorer in September 2023. Alford took 200 days to drive more than 30,000 km across 27 countries and six continents. Here's what Alford learned about the world and people while pushing the EV to its limits.

3) Flip-flopper in chief?

US President Donald Trump Image: Kevin Dietsch/Getty Images/AFP

US President Donald Trump's chaotic economic policies have wreaked havoc on how trades function globally. His actions prompted retaliatory responses from China and the European Union. In the process, share markets all over the world have recorded some of their blackest days on record. Global supply chains are facing immense pressure. The odds of a recession are at an all-time high. On what Trump called the 'Liberation Day,' the US imposed tariffs on 75 countries. On Thursday, he backtracked and put a 90-day pause because, according to him, "people were jumping a little bit out of line. They were getting yippee." This is not the first instance in which Trump has taken a U-turn. Here are some examples of Trump's dramatic decision reversals over the years.

4) One of the greatest

Image: Shi Tang/Getty Images

PV Sindhu has faced a dip by her high standards, missing the podium in 2024 for the first time since the 2016 Rio Olympics. Her Syed Modi Open win in December was her first BWF World Tour title since July 2022. Injuries and frequent coaching changes have led to doubts about her form, but Sindhu remains driven by a “burning desire” to compete at the 2028 Los Angeles Olympics. Her new coach, Indonesian Irwansyah Adi Pratama, insists it’s only a matter of time before she returns to top form. “People forget she’s one of the greatest,” he says. Responding to Forbes India's questions, the 29-year-old reflects on setbacks, motivation, and the trait that defines champions.