Weekend Wrap: This Week in Indian Business — Tariffs, Tech & Tax

In this piece:

The short

Tariffs: Duty differentials keep device/components localisation attractive; fixed-price EPCs re-check escalation clauses.
Tech: AI agents move from service desks to ops; DC builds prioritise power corridors + fiber redundancy.
Tax: Input-credit and related-party hygiene pushed earlier in the month to ease quarter-close.
Markets: Banks/industrials lead; smallcap froth pockets fade on liquidity screens.
Households: Retail fuel bands steady; festive auto discounts offset some EMI pressure.

Credit growth steady; monitor deposit beta and wholesale funding share at private/PSU lenders.
Capital goods: backlog + execution cadence underpin visibility; keep an eye on input-cost creep.
Autos: festive sell-through vs dealer weeks (target ≤4–5) will drive discounting intensity.
IT: cost-takeout programmes continue; treat premium names without TCV proof with caution.
Power: tariff clarity and demand support; receivables cycles and fuel linkages remain gating factors.

Local EMS with higher value-add capture share if duty gaps hold through festive builds.
Retail pass-through tied to FX cover and channel inventory; monitor 30-day sell-through.

Reprice bids with a “two-column” model: old FX/duty vs new; document assumptions for claims.
Projects with escalation clauses and flexible sourcing outperform fixed lump-sum contracts.

Agentic pilots extend to finance ops/procurement; measure TAT, error rates, and deflection vs human baseline.
Data-centre designs: plan for 30–50 kW/rack pockets and liquid-ready cooling in power corridors.
SME software: compliance/reporting demand rises; export-readiness (multi-currency, e-invoicing) is a wedge.

Invoice-data pre-validation in supplier portals reduces month-end disputes; codify acceptance SLAs.
Related-party disclosures: reconcile board minutes, audited notes, and DRHP/RHP narratives.
Insurance illustrations: align surrender ladders and grievance TATs; publish “nutrition labels”.

City	Petrol (₹/L)	Diesel (₹/L)	Note
Delhi	102–105	90–93	Baseline bands
Mumbai	106–110	93–97	Higher VAT/cess
Bengaluru	102–106	88–92	Recent resets reflected
Chennai	101–104	92–95	Levy mix different

Auto: stack ex-showroom vs on-road add-ons; festive discounts can offset rate sensitivity.
Flights: price bands widen into long weekends; lock metro fares 10–14 days out.

Re-cost BOMs and EPC bids where duty/FX moves bite; attach assumption sheets for claims.
For new IT loads: book power + diverse fiber now; model PUE and density scenarios before PO.
Finance: pre-reconcile invoice data; publish quarter-close checklists and owner SLAs.