Gautam Adani asserts the Adani Group's resilience and strategic adaptation amidst acquisitions and scrutiny, planning a $15–20 billion investment over five years. Despite facing allegations from Hindenburg Research and US authorities, the group has reduced debt, attracted investments, and reported record earnings. Adani emphasizes strong governance and compliance, highlighting expansion across various sectors and contributions to India's ambitions.
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India's engineering exports face significant headwinds as the US prepares to impose a 50% tariff on steel and aluminium imports, effective June 4, 2025. This move, doubling existing duties, threatens approximately $5 billion in annual exports, prompting concerns from the EEPC and AAI.
IndiGo and Bangalore International Airport Ltd. (BIAL) have partnered to establish a dedicated MRO facility at Kempegowda International Airport, Bengaluru, with BIAL allocating 31 acres for the project. This collaboration aims to bolster Bengaluru's status as a premier aviation hub and supports IndiGo's fleet expansion plans, including long-haul operations and new domestic destinations.
The revamped PM SVANidhi scheme is set to offer street vendors higher subsidised loans and credit cards with a Rs 30,000 limit, thanks to bank participation. Rural vendors migrating to cities will also benefit from these loans, with an additional Rs 10,000 potentially included. This initiative aims to provide accessible capital and reduce reliance on high-interest informal loans.
Maruti Suzuki India announced a record-breaking achievement, transporting 5.18 lakh vehicles via Indian Railways in FY 2024-25. Since FY 2014-15, cumulative railway dispatches have reached 24 lakh vehicles, servicing over 600 cities through 20-plus railway hubs. By FY 2030-31, the company aims to increase vehicle dispatches via railways to 35 percent, reducing carbon emissions and conserving fuel.
Schloss Bangalore Ltd, owner of "The Leela" brand, had a weak stock market debut, listing below its IPO price. Shares opened at Rs 406 on NSE and Rs 406.50 on BSE, against an IPO price of Rs 435. Despite the brand's strength and expansion, investor caution prevailed. The IPO was subscribed 4.5 times.
The rupee weakened by 7 paise to close at 85.55 against the US dollar, influenced by volatile equity markets and rising crude oil prices. Investors were cautious ahead of GDP data release, while the dollar strengthened after a US court ruling on tariffs. Despite FII selling, India's growth outlook remains robust, as highlighted by the RBI.
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.
Maruti Suzuki reports that its production remains unaffected by China's rare earth magnet export restrictions, crucial for vehicle components. The company has applied for import permits and is engaging with the government to understand the new regulations' impact.
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.
IndiGo airlines is set to boost air connectivity in Assam following discussions with Chief Minister Himanta Biswa Sarma. New initiatives include a direct Delhi-Jorhat flight starting mid-September 2025 and a Guwahati-Navi Mumbai route launching this winter. The Delhi-Dibrugarh service will now include a Guwahati stopover, enhancing connectivity between Assam's capitals.