🌞 Happy Monday, Chai Lovers!

Navratri begins with more than just festivities—India’s GST 2.0 tax reforms officially roll out today. That means cheaper essentials, car discounts, and a little more breathing room in household budgets. Meanwhile, Trump’s fresh visa fee shock has global companies and governments scrambling. Let’s steep into today’s brew.

☕ Chai Shots

• 💸 GST 2.0 launches with Navratri: The new two-rate GST system (5% & 18%) is now live. PM Modi calls it a “Bachat Utsav,” promising savings for households and urging Indians to back swadeshi goods. More in the Big Brew 👇

• 🌍 Trump slaps $100K H-1B charge: The new fee applies to fresh visa applications, sending shockwaves across Big Tech. Amazon, Microsoft, Goldman Sachs, and JPMorgan advised visa holders to avoid overseas travel, while India and South Korea flagged risks to competitiveness and families.

• 🚘 Tata Motors trims prices: Models like Nexon and Altroz are now ₹1 lakh+ cheaper, passing GST savings directly to buyers. Automakers hope this will supercharge festive demand.

• 🤖 SoftBank trims Vision Fund staff: Nearly 20% of the 300+ Vision Fund employees are being laid off as Masayoshi Son pivots from broad startup bets to capital-heavy AI projects like the $500B Stargate data center initiative with OpenAI.

📊 Market Masala

• 📉 Markets reset after Friday slump: The Sensex closed at 82,626 (–388 points) and Nifty at 25,327 (–97 points) after profit-taking. Investors are bracing for GST’s impact, foreign flows, trade talks, and Trump’s visa fee.

• 📉 Profit-taking caps rally: On Sept 19, benchmark indices slipped after three days of gains, with midcaps barely down but smallcaps holding slight gains—highlighting selective resilience in the broader market.

• 🪔 PM Modi’s GST message: Modi framed GST 2.0 as a transformational reform, contrasting today’s simplified tax regime with the pre-2017 maze of octroi, VAT, and excise. He said the changes would ease business and lower household costs while empowering MSMEs.

• 👛 ₹2.5 lakh crore boost to households: The Finance Ministry expects GST 2.0 to add ~2.55% more disposable income per household, supporting consumption just as the festive season ramps up.

• 🪙 Gold regains shine: Gold futures rebounded ₹572 to ₹1,09,624/10g after three days of losses. Silver also gained, reflecting renewed safe-haven demand as Fed policy loosened.

• ⚡ Tesla begins hiring in India: With 13 roles across Mumbai and Delhi, Tesla is finally preparing its India entry after customs duties on luxury EVs were slashed. India’s EV sales are still tiny (~100K last year vs 11M in China), but Tesla wants first-mover advantage.

• 🥤 Campa goes overseas: Reliance launched Campa Cola in the UAE with Agthia Group, targeting Indian expats and local youth with its nostalgia pitch and aggressive pricing. Campa already holds 10%+ share in some Indian states and is projected to cross ₹1,000 crore in FY25 revenue.

🌎 Global Masala

• 📈 Wall Street rallies on Fed cut: U.S. equities hit fresh records after the Fed’s first 2025 rate cut, with AI optimism fueling the “Magnificent Seven” to a 223% surge since 2023 lows. Analysts see further upside but warn of bubble-like overheating.

• 🎥 Murdochs floated in TikTok talks: Trump said Rupert and Lachlan Murdoch could join Oracle’s Larry Ellison and Dell’s Michael Dell in a U.S. investor group for TikTok. The White House confirmed most of TikTok’s U.S. board will be American, while China demanded compliance with its laws.

• 📱 ByteDance valuation climbs: News of TikTok deal progress lifted ByteDance’s valuation, though investors say it’s still trading below U.S. peers like Meta—signaling belief in China’s tech muscle.

• 🚘 Nvidia eyes $500M bet on Wayve: UK startup Wayve, which builds AI-driven driving systems that don’t rely on maps, signed an LoI with Nvidia as part of its £2B UK AI pledge. CEO Jensen Huang even called Wayve a “next trillion-dollar company.”

🍵 The Big Brew: GST 2.0 Changes the Game

India’s tax overhaul begins today with GST 2.0, slashing the maze of rates into just two slabs—5% and 18%.

• 🛍️ Household relief: Everyday essentials like medicines, insurance, and groceries get cheaper, with the government estimating ₹2.5 lakh crore in benefits flowing back to consumers.

• 🚗 Autos respond fast: Tata Motors cut prices by up to ₹1.15 lakh across models, setting the tone for wider industry discounts. Analysts expect rivals to follow as price wars heat up.

• 🪔 Political framing: Modi launched GST 2.0 alongside Navratri, pitching it as a “Bachat Utsav” aligned with Atmanirbhar Bharat and urging citizens to buy swadeshi goods.

• 📈 Investor watchlist: Autos, FMCG, and insurance stocks could see strong festive tailwinds, making them the key sectors to track this quarter.

What does this mean?

• 🏠 For households: A little extra money in wallets right as Navratri shopping and festive spending kick off.

• 🏭 For businesses: A demand surge, especially in autos, FMCG, and insurance, as lower taxes fuel consumption.

• 🏛️ For policymakers: A chance to prove GST reforms aren’t just about compliance—they’re a growth engine driving savings, demand, and Atmanirbhar Bharat.

🚀 Startup Scoop

• 🪙 Jar turns profitable: The digital gold-savings app has 35M users—95% saving formally for the first time—and is eyeing an IPO. Revenues grew 49x in a year as Jar integrated its gold stack and added jewelry and UPI features.

• 💳 RBI shuts down rent hacks: New rules forced PhonePe, Paytm, and CRED to halt rent payments via credit cards. For users, no more easy reward points; for fintechs, it’s the loss of a lucrative revenue stream.

• 🚀 SpaceFields raises $5M: Bengaluru-based SpaceFields, which builds propulsion systems for UAVs and rockets, secured $5M led by Globaz. Already holding four defence contracts, it will scale production and regulatory approvals.

• 🌱 Equilibrium lands $3M seed: Backed by Kalaari, Peak XV, and Avaana, Equilibrium is rolling out projects in agroforestry, mangroves, and biochar across 9 states, covering 1.5 lakh farmers and targeting 20M tonnes of carbon removals.

🎲 Chai Break Trivia

• Did you know 🏎️ India’s first Formula 1 Grand Prix was held in 2011 at the Buddh International Circuit in Greater Noida. Though the event only lasted three years, it briefly made India part of global motorsport’s elite calendar.

🔮 What’s Brewing Next

• 🇺🇸 India–US trade talks: Commerce Minister Piyush Goyal heads to Washington and New York to advance bilateral negotiations as tariff tensions linger.

That’s your Monday pour! With GST 2.0 officially here, families should feel lighter on taxes and heavier on savings—just in time for Navratri shopping. Keep your eye on IPO buzz, Tesla’s India hires, and fintech pivots this week. Until tomorrow, sip your chai and stay ahead. 🚀☕