The Trump administration's doubling of import duties on steel and aluminum is poised to negatively impact India's export demand, compelling companies to explore alternative markets. US importers are slowing orders due to increased costs, potentially hindering American firms' production and reducing input demand. India's steel and aluminum exports to the US, valued at $6.2 billion and $0.
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The Indian government has reduced the basic customs duty on crude edible oils to 10%, a move lauded by SEA and IVPA. This aims to support domestic refiners by discouraging refined palmolien imports. The decision widens the duty gap between crude and refined oils, potentially lowering domestic prices and benefiting consumers.
India's Ministry of Heavy Industries has launched the “Scheme to Promote Manufacturing of Electric Passenger Cars in India” (SPMEPCI) to attract EV manufacturing investments. The scheme offers reduced customs duties on imported EVs for approved applicants who meet minimum investment and localization targets.
Jefferies reports a positive outlook for Indian bonds due to falling inflation and anticipated RBI rate cuts. India's 10-year government bond has significantly outperformed US Treasuries. Global investors are increasingly drawn to Indian bonds, seeking higher yields and stability amidst a shift away from G7 debt, signaling confidence in the Indian market.
MRF is now India's most expensive stock. It overtakes Elcid Investments, whose shares have fallen from a high in November 2024. Elcid's decline is linked to a drop in Asian Paints' stock value. MRF's success is due to strong financial results. The company reported higher profits and revenue for the March 2025 quarter.
H&M, a publicly traded company since 1974, is witnessing a significant shift towards private ownership as the Persson family, its founders, have aggressively increased their stake. Since 2016, they've invested over $6.6 billion, raising their control to almost 64%. This substantial accumulation fuels speculation about a potential move to take the fast-fashion retailer private, despite the family's denials.
India Energy Storage Week (IESW) 2025, scheduled for July 8-10 in New Delhi, anticipates over Rs 8,000 crore in investments across energy storage, electric mobility, and green hydrogen. Organized by IESA, the event expects participation from international delegates and aims to foster business deals and collaborations. This will accelerate India's clean energy manufacturing ambitions, supported by state and central ministries.
PM Narendra Modi will inaugurate the Chenab Bridge on June 6. This bridge is the world's highest railway bridge. It connects the Kashmir Valley with India via rail. The bridge is a part of the Udhampur-Srinagar-Baramulla Rail Link project. The project faced engineering challenges due to terrain and seismic sensitivity. The Katra-Srinagar Vande Bharat train service will also launch.
India's agricultural sector has undergone a significant transformation in the last 11 years, driven by increased budgetary support and policy focus. The government reports substantial growth in foodgrain output, rising MSP for key crops, and significant disbursements under PM-KISAN. Crop procurement volumes have also seen a sharp increase, positioning India towards global agricultural leadership.
Foreign Portfolio Investors (FPIs) initially withdrew Rs 8,749 crore from Indian equities in early June amid global uncertainty. However, a significant shift occurred after the RBI's unexpected 50 basis points rate cut, boosting investor confidence.
The Indian auto industry is facing a potential production shutdown due to China's export restrictions on rare earth magnets, crucial for various vehicle components. Companies like Maruti Suzuki, Mahindra, and Bajaj Auto are at risk, with Bajaj Auto anticipating a significant impact on EV production by July.