It's Monday, February 17, 2025. This is Nelson John, let's get started.

Foreign Portfolio Investors (FPIs) have recently sold shares worth $21 billion over the past four months, representing about 2.7% of their total equity holdings in India, which stood at $782 billion as of January 2025. While this percentage may seem modest, the impact on the Indian stock market has been significant. The selling pressure has been particularly intense in small and mid-cap stocks. FPIs increased their holdings in the Nifty Smallcap 250 and Nifty Midcap 150 indices during the December quarter. However, aggressive selling in these segments has led to sharper declines compared to large-cap stocks. The Nifty Smallcap index has plunged 22.4% from its record high in September 2024, while the Nifty Midcap 150 has fallen 18.5% in the same period, reports Mint’s Ram Saghal. Domestic institutional investors (DIIs) have attempted to counterbalance FPI outflows by purchasing shares worth ₹2.73 trillion in the same four-month period. However, their efforts have not been sufficient to prevent the market downturn.

India has become a key destination for Japanese Foreign Direct Investment (FDI) as part of Japan’s “China-plus” strategy, according to Deloitte Japan CEO Kenichi Kimura. In 2023, India received over $5 billion in FDI from Japan, surpassing China and Hong Kong, which collectively received $3.6 billion. This marks the first time India has overtaken China in Japanese investments. The trend continued in early 2024, with India receiving $1.8 billion, ahead of China and Vietnam. India’s large domestic market, strategic location as a gateway to the Middle East and Africa, and strong business and talent networks make it an attractive investment hub. The Indian government’s policies, including Production-Linked Incentive (PLI) schemes, stable economic growth, and capital market development, further enhance its appeal. Additionally, India’s thriving start-up ecosystem and focus on emerging technologies are drawing Japanese investors seeking innovation and collaboration.  According to the report by Mint’s Giresh Chandra Prasad’s, Prime Minister Narendra Modi has prioritized FDI to drive economic growth, with initiatives like an investment index for states and tax incentives to boost consumption and investment. As Japanese companies diversify their supply chains post-pandemic, India is emerging as a critical manufacturing and supply chain hub for regional and global markets.

A financial scam has rocked the New India Co-operative Bank, leaving its customers in disarray..  The bank's former General Manager, Hitesh Mehta, is at the center of an alleged ₹122 crore embezzlement. The fraud, spanning several years, was uncovered during an internal audit, prompting swift action from authorities. According to reports, Mehta, who headed the bank’s accounts department, siphoned funds from the Prabhadevi and Goregaon branches between 2020 and 2025. Investigators believe he manipulated records and withdrew cash without proper authorization, exploiting his senior position. The fraud came to light when the bank’s acting CEO, Devarshi Ghosh, filed a formal complaint, leading to a police probe. Following the revelations, the Reserve Bank of India (RBI) took immediate action, superseding the bank’s board for a period of 12 months and appointing an administrator to oversee operations. RBI also imposed restrictions on withdrawals to safeguard depositors. Mehta has been arrested and remanded in police custody until February 21, 2025, as investigations continue. Authorities are now examining whether more officials were involved in the financial mismanagement. Meanwhile, depositors remain anxious, awaiting clarity on the fate of their savings.

In 2024, IMAX’s box office earnings in India experienced a significant decline of 36%, totaling $14.7 million, down from $23 million in 2023. This downturn is primarily attributed to the absence of major Hollywood releases, as the 2023 writers’ and actors’ strikes led to delays of several big titles. Additionally, the limited number of local language blockbusters, with only films like “Pushpa 2: The Rule” and “Kalki 2898 AD” making a substantial impact, contributed to the reduced earnings. Entertainment industry experts point out that premium formats such as IMAX and 4DX have been trying to expand their footprint in India for a while, but there aren’t enough movies to keep the screens running for even half of the year. Additionally the standoff between multiplex chains and southern film producers over early OTT releases further exacerbated the situation, resulting in fewer titles available for premium formats like IMAX, especially in northern India, reports mint’s Lata Jha. Despite these challenges, IMAX considers India a high-priority market, ranking it as the eighth highest-grossing market globally in 2024. The company plans to expand its footprint by focusing on tier-II and tier-III cities, aiming to increase its screen count from the current 34 to 100 over the next five years. Looking ahead, IMAX anticipates a stronger content lineup in 2025, with releases such as “Captain America: Brave New World,” “Mission: Impossible – The Final Reckoning,” and “Avatar: Fire and Ash” expected to boost box office performance. 

Naga cuisine, once dismissed for its pungent aromas and unconventional ingredients, has undergone a remarkable transformation, emerging as a vibrant avenue for entrepreneurship across India. Traditionally characterized by its use of diverse meats, foraged greens, and fermented condiments like aha-o-ni which is fermented soybean, Naga food faced skepticism and cultural biases in metropolitan areas. Early migrants from Nagaland often encountered prejudice, with their culinary traditions labeled as “stinky” or “dirty.” Despite these challenges, enterprising Nagas identified a niche market among fellow northeastern migrants and adventurous urban food enthusiasts. This realization led to the establishment of numerous Naga food ventures in cities like Delhi, Bangalore, and Mumbai. For instance, Delhi now hosts approximately 40 Naga food businesses, ranging from restaurants to cloud kitchens and delivery services. Bengaluru boasts about 15 such establishments, while Mumbai has at least five. The increasing acceptance and curiosity about northeastern flavors suggest a promising future for Naga cuisine in India’s culinary landscape.