Top of the Morning : Green Card Setback for Indians | Ola’s Invoice Gap Raises Red Flags | Gold Profit Rush

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.This is Nelson John, and I'll bring you the top business and tech stories, let's get started. Heads up, traders! Indian stock markets will be closed on April 14 (Ambedkar Jayanti) and April 18 (Good Friday). Plan your trades accordingly.Ola’s Invoice Mystery DeepensOla Electric is under fire for a massive mismatch in its February numbers. It claimed 25,207 confirmed e-scooter orders, but only generated invoices for 9,206 vehicles. That leaves over 13,500 unaccounted for—blamed on disruptions during a switch to in-house registration teams.“Invoices are generated upon vehicle availability,” Ola told the road ministry. But experts are skeptical—under GST law, invoices must be issued before goods move. The VAHAN portal showed just 8,600 registrations that month.The ministry has asked for repeated clarifications, while rivals Bajaj Auto and TVS are gaining ground. March FADA data placed Ola in third spot, and investors aren’t happy—Ola’s stock has tanked over 17% since the saga began.💥 U.S.–China Tariff Tensions EscalateThe tech and pharma trade war between the U.S. and China just flared up again. U.S. Commerce Secretary Howard Lutnick announced sector-based tariffs on smartphones, semiconductors, and electronics, coming within a month.“We can’t rely on China for essentials like semiconductors and medicines,” Lutnick said. Pharma tariffs are next, aiming to bring manufacturing back to American soil.This follows a temporary reprieve on Chinese electronics from Trump’s 145% tariffs—one that helped companies like Apple avoid massive pricing hikes (think $3,500 iPhones!). China is urging a rollback, but the pressure’s on—and so are global supply chains.💰 Gold Hits High, Investors Book ProfitsGold hit an all-time high of $3,235/oz, and retail investors took that as a cue to cash out. AMFI data shows ₹77 crore net outflows from gold ETFs in March—the first in over a year.“Those who entered 6–12 months ago are locking in gains,” said Kotak MF’s Satish Dondapati. Gold has delivered 23% returns in 2024, outperforming all major assets. But ETF inflows have cooled: +83% in Jan, halved in Feb, reversed in Mar.Experts expect more redemptions as geopolitical jitters—including China’s 125% tariffs on U.S. imports—drive demand for safe havens. “Gold thrives on uncertainty,” says Kotak’s Kaynat Chainwala. But tread carefully—“Don’t go all in,” warns JM Financial’s Pranav Mer. “Wait for a correction.”🛂 Green Card Dreams DelayedIt’s a tough month for Indian green card aspirants. The May 2025 U.S. Visa Bulletin shows major retrogressions—especially for the EB-5 investor visa, now pushed back over 6 months to May 1, 2019.Retrogression means high demand is pushing priority dates backward, not forward. EB-2 remains stuck at Jan 2013, EB-3 creeps to April 2013, and EB-4 is completely unavailable.With Indians making up a large chunk of global applicants, immigration experts advise staying alert, exploring faster routes like EB1 or NIW, and keeping valid work status. But for now, many will have to wait a bit longer for their American dream.🌏 Indians Flock to Cooler DestinationsScorching summer? Indians are heading out! Outbound travel is up 15–20% year-on-year, say visa firms. Top picks: Europe, U.S., Canada, and now, Southeast Asia (hello Thailand, Vietnam).“Demand is strong across tourism, work, and study,” says BLS International’s Shikhar Aggarwal. Visa applications have risen 11% in 2024, and the peak travel season may now stretch till October.The travel industry is bullish. AI is being tapped for faster visa processing, but airlines will need to step up on pricing and capacity. One thing’s clear—Indians aren’t staying put this summer. They’re going global.