OPINION, P10 WELL BEING FE LINES ACROSS THE AISLE, P CHIDAMBARAM Viral videos apart, foods like instant noodles are just one small component of the ultra processed wave Page 8 Curated shopping now accessible to masses, thanks to AI Page 6 INSTANT NOODLES, LONG-TERM RISKS When debate is stifled The new personal shopper for all LEISURE Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM VOL XX NO. 26 NEERAJ GHAYWAN AHMEDABAD 20 Pages, `12 FINANCIAL EXPRESS ON SUNDAY SUNDAY, DECEMBER 7, 2025 P U B L I S H E D F R O M : A H M E D A B A D , B E N G A L U R U , WHAT'S INSIDE C H A N D I G A R H , C H E N N A I , REUTERS Mumbai, December 6 GLOBAL PRIVATE EQUITY firm Advent International’s talks to acquire US giant Whirlpool’s India unit for up to $1 billion have collapsed due to disagreements overvaluation, four people familiar with the matter told Reuters. Advent had emerged as the frontrunner to acquire a 31% stake in Whirlpool of India from its Michigan-based parent, Whirlpool Corp, which would have triggered a mandatory open offer to acquire a majority stake, the sources said. In January, the US-listed home appliance maker said it had a 51% stake in its India unit and wanted to pare that to about 20% to pay off a major chunk of its debt amid a major rejig of its global assets.At the time, it had said it could get net cash proceeds of $550 million to $600 million from the sale. If Advent had acquired the 31% stake,it would have triggered a mandatory open offer ■ Whirlpool in India has struggled due to competition from rivals ■ Advent had emerged as frontrunner to buy 31% stake in unit ■ Whirlpool's US parent wanted to pare stake in India unit for an additional 26% under Indian regulations, giving it a controlling 57% stake. That, the sources say, would have translated into a total deal value of $1 billion forAdvent. Advent declined to comment,while Whirlpool did not respondtoReutersqueries.The sources declined to be named as the matter is confidential. Continued on Page 2 2026 Jan 24-25, Mumbai: Linkin Park, Playboy Carti (Lollapalooza) Feb 1, Delhi-NCR: Lumineers Feb 14-15, Bengaluru: Bandland 2026 year-end. Bollywood singer Sonu Nigam’s Satrangi Re India Tour is already on and will cover seven Indian cities, while Sunidhi Chauhan will perform in Delhi this monthend. The new year will host THEMINISTRYOFcivilaviation on Saturday capped airfares to checkasurgeinpricesfollowing a breakdown in services of the country’slargestcarrier,IndiGo. In an order, the government askedairlinesnottochargepassengers over `7,500 for distances up to 500 km, `12,000 for 500-1,000 km,`15,000 for 1,000-1,500 km,and `18,000 for distances above 1,500 km foreconomytickets. The order said these fare limits will apply until airfares stabiliseoruntilfurtherreview, and are valid for all types of bookings,whetherthroughairlines’officialwebsitesoronline agents.Airlines have also been instructed to maintain ticket availabilityacrossallfarebuckets and to consider capacity enhancementonsectorsshowing high demand to manage thesurgeinfares.Thefarecaps, CAPPED FARES (`) 18,000 15,000 12,000 7,500 (Fare limits exclusive of applicable charges, taxes; not applicable to business class, UDAN flights) »INSIDE« RAILWAYS ANNOUNCES 89 SPECIALTRAINS PAGE 2 which exclude applicable charges, do not apply to business class seats or UDAN flights, the ministry said in its order. The ministry order stated: “The ministry will keep a close eye on fare levels using real-time data and direct communication with airlines.” Continued on Page 2 Resumedpilothiring;1,500 flightsoperated,saysIndiGo NITIN KUMAR New Delhi, December 6 INDIGO SAID ON Saturday it operated 1,500 flights by end of the day. “Over 95% of network connectivity has been re-established as we have been able to operate 135 of the exist- ing 138 destinations,” the airline said. Ending months of a hiring freeze, IndiGo also resumed recruitment for captainsandseniorfirstofficers (type-rated) for its Airbus A320 fleet on Saturday. Continued on Page 2 US tradetalkstoresumefromDec10 FE BUREAU New Delhi, December 6 ATEAM OF officials from the US would be in India for three days next week starting December 10 to push ahead the negotiations on an initial trade deal that will see significant reduction in additional tariffs imposed on Indian imports by the Donald Trump administration. The deal will be in the nature of an initial pact which will then be a launchpad fora more comprehensive Bilateral Trade Agreement (BTA). The team will be led by Deputy US Trade Representative Rick Switzer, while the Indian team will be led by Commerce Secretary Rajesh Agrawal. Earlier the US teams in trade talks with India were led byAssistant USTRBrendan Lynch who is Assistant USTR for South and Central Asia. The US team will be in India from December 10 to December 12 and the meetingsthatarebeing planned have not been labelled as a formal round. Switzerservesastheleadofthe US negotiating team for the India-US BTA while Lynch is the chief negotiator. In US political hierarchy,Switzerhas a higher rank. The US currently charges 50% additional duties on Indiangoods—25%reciprocal tariff to address the trade deficit and another 25% for buying Russian oil. Continued on Page 2 ‘Netflix-Warner Bros deal threat to Indian cinemas’ ● Will diminish theatrical content: Multiplex body VIVEAT SUSAN PINTO Mumbai, December 6 THE MULTIPLEX ASSOCIATION of India,an apex body of multiplex operators in the country, has red-flagged Netflix’s proposed acquisition of Warner Bros Discovery, saying it could diminish theatrical content availability and threaten India’s cinema ecosystem. In a statement on Saturday, the body argued that »INSIDE« HOW NETFLIX WON HOLLYWOOD’S BIGGESTPRIZE PAGE 20 consolidating a major studio under a streaming platform presents competitive and economic risks to India’s theatrical market. The comments, which come a day after Netflix said it would buyWarner Bros Discovery in a $72-billon cash and stock deal, have put the spotlight on India, the world's largest producer of movies, and implications of the global consolidation on the local market. India produces over 2,000 films annually across lan- M U M B A I , Dec 21, Ahmedabad; January 10, 2026, Pune; March 28, 2026, Delhi-NCR: Sonu Nigam ('Satrangi Re' India tour) Dec 27, Delhi: Sunidhi Chauhan (I Am Home India Tour 2025-26) Govt caps airfares to check aviation chaos YARUQHULLAH KHAN & AKBAR MERCHANT New Delhi/Mumbai, December 6 DEAL DISCORD L U C K N O W , DAY 5 OF CRISIS: ABOUT 850 FLIGHTS CANCELLED ● IndiGo told to clear all refunds by today evening Advent’s $1-bn deal talks forWhirlpool India stake collapse K O L K A T A , Above 1,500 km A transparent and open internet is visionary, but impractical in today’s geopolitical climate burn Festival 2025 attractions David Guetta, Sara Landry, Axwell, Above & Beyond are set to rock the 1,0001,500 km United digital front THE COUNTRY ROCKED to Coldplay, Travis Scott, Ed Sheeran, Enrique Iglesias, Shawn Mendes, and Guns N' Roses this year, while singermusician AP Dhillon, American rapper Post Malone, Grammy-winning guitar legend Tom Morello, and Sun- 5001,000 km ■ WORDS WORTH, P4 K O C H I , Dec 7, Delhi: AP Dhillon Dec 8: Guwahati: Post Malone Dec 17-21, Gurugram, Mumbai, Bengaluru: Tom Morello Dec 19-21, Mumbai: Sunburn Festival Dec 21, Delhi: Papon Up to 500 km Centre’s ambitious Ayushman Bharat healthcare scheme is facing a gap between rules and reality. What are the challenges, and how can they be overcome for the model to set a precedent globally H Y D E R A B A D , UPCOMING GIGS VAISHALI DAR New Delhi, December 6 India needs healing touch READ TO LEAD N E W D E L H I , P U N E Rocking concert economytaking shape in India ● Record-breaking shows becoming big economic force ■ SPOTLIGHT, P5 Interview with the director of Homebound, India’s official entry to 2026 Oscars Page 7 THE HOLLYWOOD ANGLE ■ Hollywood films contribute 10-15% of India’s box office collections ■ With the rise of OTT, exhibitors now depend more on Hollywood titles ■ Warner Bros contributed consistently to the release calendar guages and the Hindi film industryis theworld's secondoldest. In recent years, Hollywood movies have found a ■ Netflix's stance of limited theatrical releases worrying thriving market in India, with big releases awaited keenly, dubbed in multiple languages and doing brisk business here. Film industry experts said Hollywood films contribute about 10-15% of India’s total box office collections of about `10,000 crore. A decade ago, thisnumberwasabouthalfthe current share, experts said, as Hindi films ruled then. But, with audience preferences changing post Covid-19 amid a boom in OTT content, Hindi movie makers and producers have struggled, forcing exhibitors to turn to regional languagesandHollywoodcontent for footfalls and business. “TheIndiantheatricalmarketthrives onchoice,scale,and cultural diversity,” said Kamal Gianchandani, president of MAI.“Warner Bros has historically been a key partner to Indian cinemas, contributing consistently to our release calendar with successful global and local titles,”he said.“Cinemas in India are more than entertainment venues. They are cultural hubs and significant economic contributors, supporting millions of livelihoods,”he said. Pointing to Netflix’s stance ofhavingalimitedapproachto theatrical releases, Gianchandani said the risk to cinema owners would be two-fold. “One is a meaningful reduction in high-quality content for cinemas, and the potential for shortened or non-existent theatrical windows,"he said. Continued on Page 2 Lollapalooza India with Linkin Park and Playboi Carti in Mumbai; Lumineers in Delhi-NCR, and Bandland 2026 in Bengaluru. With blockbuster tours by Coldplay,BryanAdams,Travis Scott,Akon and Enrique Iglesias drawing record crowds and upcoming calendar featuring Rolling Loud, Lionel Messi’s GOAT India Tour; David Guetta, Jacob Collier, and The Script, India is fast emerging as the next big stage for live music and entertainment. This is transforming not just the entertainment landscape, but also tourism,hospitality,aviation, and local economies. Continued on Page 2 Economytogrow by7% or more in FY26,says FM FE BUREAU New Delhi, December 6 INDIA’S ECONOMY IS set to grow at 7% or higher this fiscal year,backed by strong fundamentals and resilient domestic demand, Finance Minister Nirmala Sitharaman said on Saturday. Speaking at the Hindustan Times Leadership Summit in Delhi,she noted that low inflation, recent GST rate cuts, and steady consumer spending would continue to support growth despite global challenges. India’s GDP expanded 8.2% in the July-September quarter, outperformingexpectationsand marking a sixquarter high. Robust festival-dri- NIRMALA SITHARAMAN, MINISTER OF FINANCE Customs simplification will be next major reform ahead of Budget ven consumption, increased factory output, and strong services-sector performance helped offset weaker agricultural growth. “We saw the growth numbers for the second quarter. I think that will sustain, and overall, this year’sgrowthnumberswill be 7 or beyond it as well,”she said. Continued on Page 2 India model of highgrowth,low inflation: Modi PRESS TRUST OF INDIA New Delhi, December 6 ASSERTING THAT INDIA is a model of high growth and low inflation, Prime Minister Narendra Modi on Saturday saidthecountry’s8.2%growth inthesecondquarterofthisfiscal shows that it is becoming the growth driver of the global economy. He also said India’s self-confidence had been shaken by the “mentality of colonialism” but now we are moving ahead of it. Modi said thatatatimewhentheworldis full of uncertainties, India is seen in a different league. The changes happening in India are not just about possibilities but are a saga of changing thinking and direction, he said at the Hindustan Times Leadership Summit. “We are standing at a juncture where one fourth of the 21st century has passed. The world has seen many ups and downs: financial crisis, global pandemic, technological dis- Biocon to absorb Biocon Biologics BIOCON said it will integrate Biocon Biologics with itself, in a deal valuing at $5.5 billion. Biocon will acquire the remaining stake from Serum Institute Life Sciences and others through a share swap. ■ PAGE 3 NARENDRA MODI, PRIME MINISTER This (GDPat 8.2%) is not just a number, it’s a message that India is becoming growth driverof global economy ruptions, world falling apart, weare seeingwars,thesesituations in one way or the other are challenging the world,” Modi said. Continued on Page 2 ‘India-Russia ties among steadiest’ THE India-Russia partnership has been among the "steadiest big relationships" in the last 70-80 years and President Putin's visit was about "reimagining" the ties, External Affairs Minister S Jaishankar said. ■ PAGE 3 Ahmedabad