- The short — five lines to brief the team
- Trade & tariffs: what changed for importers/exporters
- Tech & infra: build-outs, capacity and power
- Tax & compliance: filings, deposits, disclosures
- Operator playbook
The short
- Macro: FX held in a tight band; crude drifted without a decisive break—fuel bands stayed stable across metros.
- Trade: Tariff clarifications favored value-add manufacturing; parts/components got more predictable duty mapping.
- Tech/Infra: Power tie-ins and approvals for data/industrial parks progressed; storage pilots gained interest.
- Tax: Compliance windows stayed firm; deposit and disclosure hygiene kept rising for capital markets participants.
- Flows: Domestic savings continued to cushion risk appetite even as global prints stayed mixed.
Trade & tariffs — what changed
| Area | Direction | Who’s affected | Actionable |
|---|---|---|---|
| Components vs finished goods | Clarity improved | Electronics, EV, appliances | Revisit HS codes; optimize local value-add thresholds |
| Intermediate inputs | Predictability up | Auto ancillaries, chemicals | Hedge key imports; renegotiate supply MOQs |
| Export rebates | Stable | Textiles, agri, light engineering | Lock in orders with freight buffers |
Tech & infra — where capacity is forming
Data & compute
- Pre-cleared parks helped compress approval lead times.
- Open-access RE deals improved cost visibility for DC operators.
Industrial corridors
- Power and logistics tie-ins prioritized for capex-heavy clusters.
- Tier-2 locations gained on land availability and utility corridors.
Tax & compliance — the practical read
- Security deposits and cyber hygiene expectations kept rising for advice/research entities.
- Disclosure depth for primary issues nudged toward cohort economics and cash conversion.
- For MSMEs: keep receivables, GST reconciliations, and e-invoicing discipline tight into the festive quarter.
Operator playbook — enterprise
- Repaper supply with duty/tariff scenarios and FX clauses.
- Front-load RE PPAs for 2026 start; map storage pilots for peak shaving.
- Refresh breach runbook; quarterly access reviews for staff and vendors.
Operator playbook — households
- Fuel budgets steady; route planning and basic maintenance still yield 3–5% savings.
- Cross-check electricity slab changes before festive appliance purchases.