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30-09-2025
Bureau Report
NEW DELHI: Social media platform X said on Monday that it was “deeply concerned” by an Indian court’s ruling that quashed its challenge to New Delhi’s content removal mechanisms and would appeal it to defend freedom of expression in the country.
Elon Musk-owned X has locked horns with Indian authorities for months over the latter’s new content removal system, equating it with censorship. Prime Minister Narendra Modi’s government has argued that the new system tackled a proliferation of unlawful content and ensured accountability online.
The new mechanism “has no basis in the law”, violated rulings from the country’s top court and infringed on Indians’ basic rights of freedom of speech and expression, X said on Monday.
Musk, a self-described free-speech absolutist, has clashed with authorities in several countries over compliance and content takedown demands, but the company’s Indian lawsuit targeted the entire basis for tightened internet regulation in the world’s most populous nation.
Modi’s government has ramped up efforts to police the internet since 2023, by allowing many more officials to file takedown orders and submit them directly to tech firms through a website launched in October.
Last week, an Indian judge said every platform that operated in India “must accept that liberty is yoked with responsibility”.
In its post, X said; “X respects and complies with Indian law… We respectfully disagree with the view that we have no right to raise these concerns because of our incorporation abroad…”
Meanwhile, India’s equity benchmarks extended their losing streak on Monday, as weakness in heavyweight private banks outweighed gains in energy stocks.
The Nifty 50, opens new tab fell 0.08% to 24,634.90, while the BSE Sensex, opens new tab also shed 0.08% to 80,364.94, logging losses for the seventh straight session, their longest daily losing streak in nearly seven months.
The indexes fell 2.7% last week, their sharpest weekly drop in nearly seven months, pressured by a hike in US H-1B visa fees and steep tariffs on branded drugs that worsened foreign outflows.
Investors are cautious in a holiday-shortened week and on persistent foreign selling, said Vinod Nair, head of research at Geojit Investments. Uncertainty over the US-India trade deal and sustained pressure on IT and pharma stocks remain near-term drags, Nair said.
Private Banks, opens new tab slipped 0.3%, with Axis Bank, opens new tab dropping 1.9% after Citi Research flagged near-term pressure on net interest margins.
Investors await the monetary policy decision, due on Wednesday, with nearly three-quarters of economists in a media poll expecting rates to remain unchanged.
However, several major banks flagged the possibility of a cut, citing mounting risks to growth. A cut would lower borrowing costs, lift consumption, and bolster corporate earnings, providing a boost to domestic equities.
On the day, 10 of the 16 major sectors advanced.
Energy, opens new tab and oil and gas indexes, opens new tab gained 0.7% and 1.4%, after multiple brokerages cited the government’s clarity on pricing reforms and a sharper focus on market capitalization as positives.
Oil marketing companies BPCL, opens new tab, HPCL, opens new tab and Indian Oil, opens new tab rose 4.2%, 4.6% and 2.9%, respectively.
