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

The short

Tariffs: Import duties stayed in focus across electronics and critical inputs; watch-notice windows keep buyers cautious.
Tech: Data/AI compliance checklists matured—enterprises are budgeting for model governance and storage residency.
Tax: GST and direct-tax clarifications helped reduce interpretive risk for SaaS exports and marketplace fees.
Markets: Banks and capital goods led rotation; microcap froth continued to cool on breadth checks.

Electronics duty chatter tilted buyers to staggered POs; value-add localization clauses firming up state incentives.
Chemicals/metals: watch for anti-dumping renewals hitting speciality grades; import-parity spreads remain volatile.

AI + data: enterprises moving from pilots to policy—track model documentation, auditability, and retention norms.
Cloud/colo: RTC renewables + BESS language now common in RFPs; latency SLAs tightening in BFSI and gaming.

Export-of-services: payments/settlement wording clarified in several advisories; reconcile with FEMA and STPI norms.
Marketplaces: TCS/TDS thresholds revisited by large platforms; seller communication templates updated.

Bucket	This week	Bias	Note
Nifty sectors	Banks, capital goods	Positive	Orderbooks + credit growth narrative intact
IT	Mixed	Neutral	Deal ramp lumpy; earnings watch
SME/microcaps	Soft	Cautious	Liquidity pockets thinning post-listing
FX & oil	Rangebound	Balanced	Crude-rupee matrix still manageable for OMCs

Stage imports in tranches; add alternate suppliers in RFQs.
Build RTC green-power language into data contracts; add BCP clauses for latency.

Stay overweight banks/cap goods while breadth is supportive; trim crowded microcap trades.
Use earnings revisions + RS to confirm sector stance; set exit rules.