Indian Sector Specific News:
A) BFSI:
1) Tech Mahindra's Plan to Compete with Big IT Firms
- CEO Mohit Joshi plans to grow banking and financial services revenue from 16% to 25% by 2027 to catch up with companies like TCS and Infosys.
- He sees AI as a chance to grow tech jobs, saying it won’t replace developers or customer service roles.
- Source: Times of India
2) GST Council Defers Key Decisions
- The GST Council has postponed major decisions, leaving critical issues open for further discussion.
- These issues will require additional deliberations before any final resolutions are made.
- Source: ANI News
3) SEBI Acts on Front-Running Case
- SEBI banned nine entities, including a PNB MetLife equity dealer, for a front-running scheme that made illegal gains of ₹21.16 crore over three years.
- The regulator impounded these gains and received full cooperation from PNB MetLife, which stated it took disciplinary action against the involved individual.
- Source: PTI
B) Automobile:
1) Surge in Auto Exports in 2024
- India’s passenger vehicle exports rose 7.79% to 6,64,648 units, and two-wheeler exports jumped nearly 22% to 3.6 million units between January and November, driven by demand in Latin America.
- Around 14.6% of passenger vehicles and 16.34% of two-wheelers manufactured in India were exported, with a target to export 50% of production in the future.
- Source: Business Standard
C) Pharma:
1) Record IPO Fundraising in Healthcare and Pharma
- The healthcare and pharma sectors raised ₹14,811 crore via IPOs in 2024, surpassing the 2023 record of ₹9,370 crore, driven by strong domestic and global demand.
- Major contributors included Sai Life Sciences (₹3,043 crore), IKS Health (₹2,498 crore), and Sagility India (₹2,107 crore), with fewer IPOs but larger issue sizes.
- Source: Business Standard
2) PLI Scheme Boosts India's Manufacturing Growth
- Since its launch in 2020, the Production Linked Incentive (PLI) Scheme has attracted ₹1.46 lakh crore in investments across 14 sectors, generating ₹12.5 lakh crore in production, 9.5 lakh jobs, and ₹4 lakh crore in exports, with key contributions from electronics, pharmaceuticals, and food processing.
- With 764 approved applications, the scheme focuses on future-ready industries like electronics, auto components, textiles, and drones, strengthening India's manufacturing ecosystem and global competitiveness.
- Source: PIB Delhi
D) Telecommunication:
1) Kerala Startups Collaborate with CDOT to Boost Indigenous Telecom Tech
- Two Kerala Startup Mission (KSUM) startups, Trois Infotech and Silizium Circuits, signed MoUs with CDOT to develop telecom solutions, including drone-based face recognition and LEO satellite components.
- Trois Infotech focuses on AI/ML, IoT, and telecommunications, while Silizium Circuits specializes in semiconductor solutions, enhancing LEO satellite infrastructure for urban and rural connectivity.
- Source: Times of India
E) Agriculture:
1) Government Implements e-NAM for Transparent Agricultural Trading
- The government is rolling out the National Agriculture Market (e-NAM) platform for online trading of agricultural and horticultural commodities, ensuring transparent price discovery through competitive online bidding.
- Mandis are integrated into the platform based on requests from state governments/UTs, provided they meet the required infrastructure and technical standards.
- Source: Legality Simplified
F) Energy:
1) Maharashtra to Source 52% of Energy from Renewables by 2030
- Maharashtra aims to generate 52% of its energy from renewable sources by 2030, with plans to provide solar pumps to farmers and generate 16,000MW of solar energy.
- The state currently uses 9 lakh agricultural pumps and will provide solar connections within three months for those who request them.
- Source: Economic Times
2) Trump Threatens EU with Tariffs Over Oil and Gas Imports
- U.S. President-elect Donald Trump has warned the European Union that it could face tariffs on oil and gas imports if the EU does not comply with U.S. demands.
- The threat comes amid ongoing tensions between the U.S. and the EU over trade policies and energy imports.
- Source: Economic Times
3) Enso Group Partners With G-Energy To Launch Engine Oils In India
- Enso Oils & Lubricants, a division of Enso Group, has become the official distributor for G-Energy, a high-tech engine oil brand in India.
- The partnership was announced at a client conference in Mumbai, marking a significant step in expanding G-Energy’s presence in the Indian market.
- Source: Construction World
4) IOC to Invest Rs 210 Bn in Bihar Refinery and City Gas Projects
- Indian Oil Corporation (IOC) plans to invest over Rs 210 billion to expand its Barauni refinery and establish a city gas distribution network in Bihar.
- This investment aims to enhance refinery capacity and boost natural gas availability in the region
- Source: Construction World
G) FMCG:
1) Mastercard and Boost Join Forces to Bring Digital Solutions to FMCG Distribution Networks
- Mastercard has partnered with Boost, a B2B commerce platform, to provide MSMEs in last-mile FMCG distribution networks with digital payment options, embedded credit, and integrated supply chain finance solutions.
- The collaboration, which targets high-growth markets like Egypt, Kenya, Nigeria, Ghana, and South Africa, is part of Mastercard's broader goal to bring one billion people and 50 million MSMEs into the digital economy by 2025.
- Source: The Fintech Times
Indian Economy and Government Initiatives:
- Erik Solheim, former Norwegian Minister of Climate, highlighted PM Modi's green economy vision as a path to achieve Net Zero, create economic opportunities, and reduce poverty, with India making significant progress in renewable energy and poverty reduction.
- The Indian government launched the 'Jalvahak' scheme to facilitate regular cargo movement on inland waterways, offering up to 35% reimbursement on transport costs for long-haul shipments on rivers Ganga, Brahmaputra, and Barak, aiming to boost efficiency and reduce congestion on roads and railways.
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