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PLUS: Uber eyes BluSmart acquisition
Good morning. F1 kicked off this past weekend with the thrilling Australian Grand Prix 2025, where Lando Norris claimed victory š
The excitement continues next weekend with the Chinese Grand Prix 2025! šļøš„
- Ruchirr Sharma & Shatakshi Sharmaa
TABLE OF CONTENTS
š Uber eyes BluSmart acquisition
šļø Tariff Troubles
šļø Bite-sized summaries
šļø Modiās podcast appearance
š®š³ Musk rethinking India?
š§āš³ What else is cookinā?
šæ Entertainment, Entertainment, Entertainment
MARKETS
š®š³ India

indicates per gram rate in Delhi | Stock data as of market close 13/03/2025
Indian markets were closed on Friday due to the festival of Holi šØ
šļø International

Stock data as of market close 14/03/2025
Markets rallied sharply on Friday marking their best day of the year. This rebound was driven by bargain hunting after a tumultuous week, with tech giants and AI-related stocks leading the recovery.
ELECTRIC VEHICLES
Uber is reportedly in early discussions to acquire BluSmart Mobility, Indiaās leading all-electric cab service, in a move that could reshape the countryās ride-hailing and EV mobility sectors.
While BluSmart has denied any acquisition talks, the speculation raises important questions about the future of urban mobility in India.
Why is this discussion interesting:
India's ride-hailing market is becoming increasingly competitive. While Uber and Ola have dominated for years, new entrants like Rapido are shaking things up.
Moreover, the push for sustainable transportation has led to growing interest in electric vehicles (EVs), with the government offering incentives to boost EV adoption.
BluSmart, which operates a fleet of over 5,000 electric vehicles across Delhi NCR, Mumbai, and Bengaluru, has positioned itself as a green alternative to traditional cab services. Its focus on sustainability and charging infrastructure aligns with Indiaās push towards reducing carbon emissions in urban transport.
A potential acquisition would provide Uber with a ready-made EV fleet, helping it scale Uber Green, its all-electric ride service. This move could also accelerate the electrification of Indiaās ride-hailing industry, encouraging other players to invest in EVs.
Additionally, the deal could mark a shift towards industry consolidation. The ride-hailing space has seen intense price wars and operational challenges, making strategic partnerships or acquisitions an attractive option for sustainability and profitability.
This all becomes very interesting when we consider that BluSmartās parent company, Gensol Engineering, is facing financial troubles, with its debt downgraded to ādefaultā status. Gensolās plans to sell BluSmartās leased vehicles could impact the latterās operations and make it a more attractive acquisition target for Uber.
Looking ahead: While no official confirmation has been made, the potential Uber-BluSmart deal signals the growing importance of EVs in Indiaās urban mobility landscape. If successful, this acquisition could not only strengthen Uberās market position but also accelerate the countryās transition to sustainable transportation.
Read more: Economic Times
TARIFFS
šļø Tariff Troubles
Indiaās electronics manufacturing sector is facing heightened uncertainty due to proposed reciprocal tariffs by US President Donald Trump.
These tariffs, aimed at countries like India and China, could significantly impact Indiaās booming electronics industry, particularly its smartphone exports and semiconductor sector.
Hereās the lowdown:
Indiaās electronics exports, worth $30 billion annually, include a large proportion of smartphones, with Apple being a major contributor.
Trumpās tariffs could drive up costs for manufacturers, undermining Indiaās competitive edge, especially in smartphone production.
The country currently benefits from a production-linked incentive (PLI) scheme, but this will expire in 2026, further complicating the landscape.
While some experts suggest that Indiaās growing electronics ecosystem, including mobile phone manufacturing, may continue to thrive despite the tariffs, high-value semiconductor manufacturing could face challenges. India is still developing its semiconductor industry and could be impacted by US efforts to boost domestic chip production.
However, India is positioning itself as a viable alternative to China for global electronics manufacturing. As companies relocate from China due to tariffs, India has become an attractive destination for mobile phone and component assembly. Notably, Apple plans to increase its manufacturing presence in India, including iPads, which underscores Indiaās growing importance in the global supply chain.
Despite these positive developments, India must address potential tariff challenges. The India Cellular and Electronics Association (ICEA) has urged the government to eliminate import duties on US electronics, especially smartphones, to protect Indiaās export competitiveness.
Read more: Economic Times
GENERAL OVERVIEW
šļø Bite-sized summaries

šļø Modiās podcast appearance - Prime Minister Narendra Modi joined Lex Fridmanās popular podcast to discuss Indiaās rich cultural heritage, democracy, foreign policy, and his long-standing association with the RSS. He emphasized Indiaās commitment to peace, drawing on the legacy of Buddha and Gandhi, and said his strength comes from the support of 1.4 billion Indians. Modi spoke about efforts to build peaceful ties with Pakistan, expressing disappointment over repeated hostility but hope for future cooperation. He also highlighted how the RSS shaped his values and praised its work in education and social service. The podcast is part of Modiās global outreach through Fridmanās widely followed platform.
š®š³ Musk rethinking India? - Elon Muskās ventures, Tesla and Starlink, face major challenges in India due to regulatory hurdles, customer preferences, and stiff competition. Starlinkās high costs make it unsuitable for urban users, with its appeal limited to rural areas. Regulatory issues, including spectrum allocation and local control requirements, further hinder its growth. Tesla, meanwhile, struggles with high import duties and pricing, limiting its ability to compete with established Indian EV makers like Tata and Mahindra. Without significant investment in local production, disruption is unlikely. With mounting global business pressures, India may not offer the breakthrough Muskās companies need at this point.
HEADLINES
š§āš³ What else is cookinā?
Whatās happening in India (and around the world šļø)
Sun Pharma, Zydus recall products in US: USFDA report.
I invited Pakistan to my swearing-in, but got hostility instead: PM Modi opens up about olive branch on Lex Fridman podcast.
India-EU FTA: Think tank points out one sector where India must demand reciprocity.
China delivers second of eight modern submarines to Pakistan navy.
CULTURE
šæ Entertainment, Entertainment, Entertainment

Source: CBR
Snow White first reactions praise remake: āA big surprise,ā Rachel Zegler āstunsā.
Sunny Sanskari Ki Tulsi Kumari, starring Varun Dhawan and Janhvi Kapoor, get a new release date - September 12, 2025.
F1 updates: Australian Grand Prix 2025: Norris holds on to beat Verstappen in wet-dry Melbourne thriller.
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