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  • 🧑‍⚖️ Google Pays ₹20 Cr To Settle — First of Its Kind

🧑‍⚖️ Google Pays ₹20 Cr To Settle — First of Its Kind

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Masala Chai
April 22, 2025

🌞 Top of the morning, midweek marvels!

Another One Friday GIF by Sealed With A GIF

The Sensex has leapt past 79K, Flipkart’s hopping on the reverse flip express, and Google just became the first to settle an antitrust case under India’s new rules. Gold’s on a rampage, Tesla’s taking PR hits, and India might just lock a trade deal with the US. We’ve poured all the boldest sips into today’s newsletter.

Let’s dive in — the kettle’s hot and the headlines hotter. ☕🔥

☕ Chai Shots

  • 📈 Markets Went Full Beast Mode Yesterday: Sensex soared 855 points and Nifty ended above 24,100 as banks and tech lit up the charts. FIIs are pouring in, monsoons look normal, inflation is cooling — the stars are aligned. More in Market Masala below.

  • 🤝 India Aims For US Trade Pact By October: FM Nirmala Sitharaman said India hopes to seal the first leg of a trade deal with the US by September–October. Talks are picking up steam as both nations navigate tariff turbulence.

  • 📺 Google Pays ₹20 Cr To Settle Android TV Spat: In a historic first under India's updated competition law, Google agreed to separate its Play Store from Android TV services and pay ₹20.24 crore to close a CCI probe. Big Tech finally blinked. 💥 More in the Big Brew below.

  • 💰 BSE Crosses $5 Trillion In Market Cap Again: A ₹6.25 lakh crore wealth jump pushed Bombay Stock Exchange back into the exclusive $5T club — a level last seen in January.

  • 🏠 Flipkart Plans IPO With 'Reverse Flip' Homecoming: Flipkart’s board has greenlit moving its legal headquarters from Singapore back to India. The e-comm giant is prepping for a domestic IPO in 2025.

  • 🚑 PhonePe’s Pincode Delivers Meds in 10 Minutes: PhonePe is now piloting 10-minute medicine delivery in Mumbai, Pune, and Bengaluru. Users can also get free doctor consultations for prescriptions — all without delivery charges.

📈 Market Masala

  • 🔥 Rally Alert: Sensex jumped 855 points (1.09%) to 79,408 and Nifty soared 273 points (1.15%) to close at 24,125 — powered by big gains in IT and banks. It was the fifth straight day of gains, with mid- and small-caps also outshining.

  • 💹 Top movers: Tech Mahindra, IndusInd Bank, Power Grid, and M&M rallied 4–5%. Banking stocks surged with Bank Nifty hitting a record high.

  • 📉 Underperformers: FMCG players like ITC and HUL dragged as input costs and weak urban demand weighed down sentiment.

  • 🧾 TDS Twist Incoming: The new Income Tax Bill 2025 could scrap 'nil TDS' certificates for all taxpayers, including NRIs. That means even if your tax liability is zero, you’ll still see TDS deducted and must file returns to claim it back. Lower TDS certificates will still be allowed, but refunds and paperwork are about to become everyone’s new friend.

  • 🧴 Minimalist Is Now Mostly HUL: HUL now owns a 90.5% stake in the viral skincare brand after a ₹2,706 crore acquisition. The brand jumped to ₹350 crore revenue in FY24, up 86% YoY.

  • 👨‍💻 Infosys Unveils Full-Fledged GCC Play: Infosys launched a global capability centre practice led by Deval Shah, targeting big-ticket deals with Lufthansa and Danske Bank as demand for GCCs skyrockets.

🌐 Global Masala

  • 📉 Wall Street Catches Tariff Fever: The Dow sank nearly 1,000 points after Trump’s attacks on Fed Chair Powell rattled markets. Nasdaq and S&P tumbled too, with Tesla and Nvidia dragging tech down.

  • ⚡ Tesla Stock Skids Before Earnings: Shares dipped nearly 6% ahead of Q1 results, with deliveries falling short and brand image taking hits due to Elon Musk’s political antics and DOGE distractions. Tesla is down 44% YTD — Wall Street’s watching closely.

  • 🚗 Tesla’s PR Pile-Up: Q1 delivery numbers fell short, and sales are slipping in Europe. Musk’s political outbursts and DOGE obsession aren’t helping, with protests erupting at showrooms and brand sentiment plunging.

  • 🌩️ Amazon Pauses Data Center Expansion: Amazon has halted some global data center leasing talks for AWS, signaling a slowdown in AI infrastructure buildout. Microsoft has also scaled back similar projects.

  • 🪙 Gold Blazes Past $3,400: Amid Trump’s showdown with the Fed and inflation jitters, investors are fleeing to safe havens. Gold is having a full-blown main-character arc — up 30% this year and climbing.

🍵 The Big Brew: Google Loosens Its Grip On Android TV

Google has agreed to a ₹20.24 crore payout to settle an antitrust case with India’s competition watchdog — and it comes with some major rule changes.

Here’s the masala:

  • 🛑 What triggered the case: Two individuals filed complaints accusing Google of abusing its dominance in the Android TV space — forcing TV makers to pre-install Google’s entire app suite and blocking rival operating systems.

  • 📜 The CCI verdict: The Competition Commission of India found that Google had indeed misused its market position by imposing unfair contracts through its Television App Distribution Agreement (TADA) and Android Compatibility Commitments (ACC).

  • 🔓 The fix? Unbundling: Under a new "New India Agreement," Google will now:

    • Provide separate licenses for the Play Store and Play Services

    • Remove mandatory app bundling

    • Waive the need for ACCs on devices shipped to India without Google apps

  • 🧾 The fine print: The ₹20.24 crore penalty includes a 15% discount for settling. It’s also the first case resolved under India’s new competition law settlement provisions.

  • ⚖️ Not everyone agrees: One CCI member, Anil Agrawal, opposed the deal, calling the settlement “devoid of merit.”

What does this mean?

This sets a precedent for how India may deal with Big Tech dominance going forward. It opens doors for TV manufacturers to innovate and use custom Android versions — and signals that India’s regulators aren’t afraid to crack down.

🌟 Startup Scoop

🌍 What’s Brewing Next?

  • 🛵 Ola’s Electric Stores Hit Red Light: Maharashtra’s transport department has ordered 121 Ola Electric stores to shut down due to missing permits. Another 270 may receive notices.

☕ Chai Break Trivia

🧳 Did you know Flipkart’s Singapore detour started way back in 2011? The e-commerce giant shifted its HQ overseas to attract global capital and avoid regulatory roadblocks — but now it’s heading home to prep for its IPO in 2025.

That’s a wrap on today’s cup of chaipalooza. We'll see you tomorrow with more headlines, hot takes, and startup spice. Until then, keep sippin’ and slayin’. ☕😎

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