India recorded merchandise exports of $38.13 billion and imports of $62.66 billion in November, resulting in a significant trade deficit of $24.53 billion for the month. These figures highlight India's substantial engagement in global trade markets and underscore the gap between the country's export earnings and import expenditure.

Trade Performance Overview

The November trade statistics demonstrate the scale of India's international commerce operations and the challenges in achieving trade balance. While exports reached $38.13 billion, the country's import requirements were considerably higher at $62.66 billion, reflecting domestic demand for foreign goods and raw materials.

Import-Export Imbalance

The November data reveals that India's imports exceeded exports by $24.53 billion, indicating the country's significant reliance on foreign goods and materials to meet domestic requirements. This substantial trade deficit reflects the ongoing imbalance between India's export capabilities and its import needs across various sectors of the economy.

Economic Implications

The $24.53 billion trade deficit for November contributes to India's cumulative trade performance for the fiscal year and serves as a key indicator of the country's economic activity. These monthly statistics reflect industrial demand, consumption patterns, and the competitiveness of Indian products in international markets. The trade data encompasses various industries and products that participate in India's global commerce activities, highlighting the need for enhanced export promotion strategies.

Nippon Life India AMC has issued a postal ballot notice to shareholders seeking approval for critical corporate governance matters through electronic voting.

Key Resolutions for Shareholder Approval

The company has proposed two significant resolutions requiring member consent:

Management Leadership Transition

The board has recommended Mr. Sundeep Sikka's elevation from Executive Director & CEO to Managing Director & Chief Executive Officer for a five-year term from April 22, 2026, to April 21, 2031. Mr. Sikka's current tenure as ED & CEO expires on April 21, 2026.

Leadership Track Record

Under Mr. Sikka's leadership since 2009, the company has achieved significant milestones:

• AUM Growth: Assets under management increased 3x from ₹2.77 lakh crores in September 2020 to ₹7.61 lakh crores in September 2025
• Profitability: Profit after tax rose 3x from ₹415.00 crores in FY20 to ₹1,286.00 crores in FY25
• Market Position: Became the largest foreign AMC and 4th largest mutual fund house in India
• Investor Base: Highest investor base of 3.49 crore investor accounts as of September 30, 2025
• Market Capitalization: Reached ₹55,283.00 crores as of September 30, 2025, rising from ₹16,052.00 crores five years earlier

Proposed Remuneration Structure

The remuneration package for FY2025-26 includes:

For FY2024-25, Mr. Sikka received total remuneration of ₹28,68,66,951, comprising salary of ₹5,49,50,000, performance incentive of ₹4,67,50,000, and perquisites valued at ₹18,51,66,951.

Employee Stock Option Plan Amendments

The company seeks approval for modifications to the Reliance Nippon Life Asset Management Limited - Employee Stock Option Plan 2019, including:

Key Proposed Changes

• Exercise Period Extension: From 7 years to 9 years from grant date
• Plan Nomenclature: Change to "Nippon Life India Asset Management Limited - Employee Stock Option Plan 2019"
• Regulatory Alignment: Compliance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021
• Enhanced Flexibility: Improved provisions for retirement, death, and permanent incapacity scenarios

Impact on Existing Options

Currently, 1,33,61,531 options are vested but not yet exercised and may lapse due to expiry of exercise period in August 2026. The proposed extension aims to provide enhanced flexibility to existing option grantees, many of whom were affected by COVID-19 disruptions during the vesting period.

Voting Process and Timeline

The postal ballot process follows electronic-only format as per Ministry of Corporate Affairs guidelines:

The company has appointed KFin Technologies Limited as the Registrar and Share Transfer Agent to facilitate the e-voting process. Members whose email addresses are registered with the company or depositories will receive voting credentials electronically.

Corporate Governance Framework

The resolutions reflect the company's commitment to strengthening its leadership structure and employee retention mechanisms. The board's recommendation is based on assessments by the Nomination and Remuneration Committee, considering regulatory requirements and stakeholder interests.

Both resolutions, if approved, will be deemed passed on January 9, 2026, the last date of e-voting. The company has made relevant documents available for electronic inspection through registered email requests to ensure transparency in the decision-making process.