Indian markets tumbled on Monday, with the Nifty slipping below 22,500 and the Sensex falling 217 points to 74,115 amid a last-hour sell-off. Midcaps shed over 1%, while the rupee posted its steepest fall in over a month. Meanwhile, renowned designer Sabyasachi Mukherjee, in an interview with CNBC-TV18 at the Future.Female.Forward platform, reflected on his brand’s legacy and the decision to sell a 51% stake to the Aditya Birla Group to secure its future.
India is reportedly considering a tariff reduction for the US, following Commerce Minister Piyush Goyal’s visit to Washington. Economist Kenneth Rogoff warned that Donald Trump’s proposed tariffs could disrupt global trade. In Brussels, India and the EU have resumed talks for a Free Trade Agreement.
Back home, The government has begun the selection process for a new IRDAI chairperson, as Debasish Panda’s tenure ends on March 13. In Maharashtra, Finance Minister Ajit Pawar slashed the Ladki Bahin Yojana budget to ₹36,000 crore, down from the estimated ₹46,000 crore, as part of the state’s ₹7 lakh crore Budget.
Globally, Mark Carney is set to become Canada’s Prime Minister, while a new gender parity report highlights women’s progress in corporate India.
Last-hour sell-off drags Nifty index below 22,500 mark, midcaps shed more than 1%
Indian stocks experienced a sharp reversal on Monday, with the market failing to hold onto its early gains, ending the day lower. The Nifty index lost 92 points, closing at 22,460, and giving up the 22,500 level. The Sensex also dropped 217 points to end at 74,115, marking a significant fall from its early highs.
The broader market also underperformed, with the Midcap index shedding more than 1%, falling by 751 points to 48,440. The market breadth turned negative, with the advance-decline ratio at a poor 1:4, indicating broad-based selling across stocks.
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Also read: FII outflows top $15 billion in 2025 so far, wiping $1.3 trillion off India’s markets
Rupee cracks 38 paise—logs steepest single-day drop in a month
The rupee recorded its sharpest fall in over a month, depreciating 38 paise to 87.33 (provisional) against the US dollar on Monday as rising crude oil prices and sustained foreign fund outflows weighed on investor sentiment.
Despite a weaker dollar globally, the local currency struggled to hold ground as a sell-off in the domestic equity market exerted further pressure, forex traders said.
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India discussing ways to reduce average applied tariffs for US: Sources
Sources tell CNBC-TV18 that India is discussing ways to reduce average applied tariffs for the US after Commerce and Industries Minister, Piyush Goyal visited Washington DC from March 3-6.
Ken Rogoff on Trump, tariffs and the changing world order
In an interview with CNBC TV18, American economist Kenneth Rogoff shared his views on the impact of US President Trump’s reciprocal tariff measures on the global economy, inflation and interest rates.
India-EU FTA talks: 10th round begins
India and the European Union begin a 10th round of negotiations in Brussels to seal a Free Trade Deal and another agreement to protect investments. Both parties look to hedge their risks with a trade deal amidst tariff threats from the U.S.
IRDAI chairperson selection process begins as Debasish Panda’s term nears end
The government has invited applications for the position of the next chairperson of the Insurance Regulatory and Development Authority of India (IRDAI), with April 6, 2025, set as the deadline for submissions.
The consolidated pay and allowances for the new chairperson have been set at ₹562,500 per month without the facility of house and car.
This comes as the tenure of current IRDAI Chairman Debasish Panda is scheduled to conclude on March 13, 2025. The application ends any speculation about a possible extension for Panda.
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Parliament Budget session: Govt & Opposition clash over NEP, delimitation issue
The Budget Session of the parliament resumes today, after a break of over three weeks. Manipur Budget, railway, coastal shipping, immigration bills likely on the agenda.
Ladli Ladki Bahin Yojana: Budget allocation cut to ₹36,000 crore, less than previous estimate
Maharashtra Finance Minister Ajit Pawar on Monday, March 10, 2025, announced a budget allocation of ₹36,000 crore for the state’s flagship women’s welfare initiative, the Ladli Ladki Bahin Yojana, for the fiscal year 2025-26. The allocation marks a reduction from the previously projected amount of ₹46,000 crore.
Launched in June 2024, the Ladki Bahin scheme provides eligible women in Maharashtra with ₹1,500 per month through direct benefit transfer (DBT). This is aimed at improving the health, nutrition, and empowerment of women.
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Maharashtra Budget 2025 Highlights: ₹7 lakh crore Budget focusses on Ladki Bahin scheme, infrastructure, jobs
Maharashtra Finance Minister Ajit Pawar presented the first Budget of the newly formed Mahayuti government. It is his 11th Budget in the Assembly. The size of the Budget is over ₹7 lakh crore with focus on women, infrastructure, jobs and promoting tourism.
Catch all the live updates on Maharashtra Budget 2025 here
Mark Carney, former Bank of Canada, BoE Governor, to be Canada’s next Prime Minister
Mark Carney won the race to become Canada’s next prime minister, putting the former central banker in charge of the country just as US President Donald Trump’s administration threatens its economic future.
The ex-Bank of Canada and Bank of England governor won the contest to lead the Liberal Party of Canada with 85.9% of the vote. The transfer of power from Justin Trudeau to Carney is expected to take place within days.
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Future. Female. Forward | A deep dive into the gender parity report
Despite constituting 50% of all graduates, women remain significantly underrepresented in India’s workforce. According to the Close the Gender Gap 30X30 survey by the Udaiti Foundation in collaboration with CNBC-TV18, women hold only 18% of jobs in India’s largest companies. The survey is part of CNBC-TV18’s initiative, Future. Female. Forward – The Women’s Collective, which aims to increase women’s workforce participation to 30% by 2030.
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Sabyasachi Mukherjee on 25 years of fashion, legacy, and India’s rise in luxury
“Mr Mukherjee, you cannot die,” world renowned Indian designer Sabyasachi Mukherjee recalls words from a girl he met at the New Delhi airport a few years ago.
Taken aback, he asked why. Her response? “You have so much idealism in your business. What will happen to us?”
It is this legacy that Sabyasachi hopes to take forward with his brand that he established 25 years ago, something that nudged him to sell 51% of the company’s stake to the Aditya Birla Group in 2021. For him, this was never about relinquishing control. It was about securing the legacy of a brand he had nurtured from a small Kolkata boutique into one of India’s most influential fashion houses.
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