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.
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The Adani group has refuted a Wall Street Journal report that alleged connections between its businesses and Iranian LPG, labeling the claims as unfounded and malicious. Adani group clarified that it does not handle any cargo from Iran at its ports or manage ships owned by Iranians, strictly adhering to this policy across all its ports.
Little Caesars, the world's third-largest pizza chain, is set to launch in India this month, marking its 30th global market. Partnering with Harnessing Harvest, the Detroit-based brand will open its first outlet in the Delhi-NCR region. This expansion comes as India's pizza market is projected to reach $11.8 billion by 2033, dominated by players like Domino's and Pizza Hut.
The Central Consumer Protection Authority (CCPA) has mandated e-commerce platforms in India to conduct self-audits within three months to detect and eliminate deceptive "dark patterns." This initiative aims to protect consumers from manipulative interface designs that lead to unintended actions. Platforms are also encouraged to submit self-declarations confirming compliance with anti-dark-pattern norms to foster transparency and build consumer trust.
Udaan, a B2B ecommerce platform based in Bengaluru, has secured $114 million in funding led by M&G Investments and Lightspeed. The company intends to use the capital to strengthen its presence in the FMCG and staples categories. While maintaining a valuation of $1.8 billion, Udaan reported a revenue growth of over 60% year-on-year in 2024.
Asia's factory activity experienced a decline in May, impacted by weak demand from China and the lingering effects of US tariffs. Manufacturing operations in Japan and South Korea continued to contract, while concerns over potential US automobile tariffs created uncertainty. China's manufacturing sector also showed contraction, signaling a broader economic slowdown in the region.
Adani Group announced a significant 29% surge in its tax contributions, reaching nearly Rs 75,000 crore in FY2024-25. This substantial contribution, encompassing direct and indirect taxes along with employee social security, underscores the group's commitment to nation-building. Key contributors among the listed companies include Adani Enterprises, Adani Cement, Adani Ports, and Adani Green Energy.
The rupee strengthened marginally to 85.80 against the US dollar, supported by easing oil prices and positive domestic equities, reversing a two-day losing streak. Traders are cautious ahead of the RBI's rate decision, with expectations of a potential rate cut looming. The domestic equity market showed positive momentum, with both Sensex and Nifty closing higher.
A Jefferies report indicates that AI implementation may disproportionately affect entry-level white-collar positions, raising unemployment concerns for recent US university graduates. Sectors like sales, customer support, and software development are particularly vulnerable. While some companies report net employment gains, others acknowledge AI-led staff reductions impacting service quality, highlighting the need for proactive skill development and workplace adaptation.
India and the US are actively engaged in discussions to finalize an initial tranche of a bilateral trade agreement (BTA). American officials have arrived in Delhi for negotiations aimed at enhancing market access and supply chain resilience. Commerce Minister Piyush Goyal expressed confidence in achieving positive outcomes.
The Indian femtech sector, after a funding peak in 2021, is now seeing strategic consolidation through acquisitions. IVF Access, a fertility chain, recently acquired Proactive For Her, a digital women's health clinic. This acquisition signals a shift towards integrated platforms offering full-stack clinical care, moving beyond standalone apps to address the entire care journey.