US President-elect Donald Trump’s second term is expected to temporarily impact the Indian rupee. Historical trends suggest rupee has performed better under Republican administrations, with current volatility predicted to be short-lived. Despite a recent 3% dip, the rupee remains stable compared to other currencies.
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India is expected to maintain a growth rate of 6-8% while controlling inflation in the coming years, said Union minister Ashwini Vaishnaw. Focus areas include simplifying tariffs and customs laws to boost exports. Inclusive growth remains central, supported by manufacturing and services. India's talent pool and trust in policies attract companies to shift operations there.
L&T’s HR head Sonica Muraleedharan clarifies Chairman S N Subrahmanyan's remarks about a 90-hour work week, explaining that his comment was misinterpreted and not intended to mandate extreme working hours. Muraleedharan emphasizes Subrahmanyan’s supportive leadership and commitment to employee growth, urging understanding of his true intentions.
Large IT firms saw growth driven by small and mid-sized deals in the December quarter, with a strong pipeline and shorter deal decision-making cycles. HCLTech's annual contract value increased by 23% year-on-year, while TCS signed deals worth $10.2 billion. The shift towards smaller, shorter-tenure deals aligns with changing client spending patterns.
The government plans to consult with the tech industry and external experts before restricting the transfer of certain personal data outside India, as part of the draft Digital Personal Data Protection rules. The rules also propose parental consent for children under 18 to join social media platforms.
FMCG giant Hindustan Unilever is in advanced talks to acquire D2C beauty brand Minimalist, valuing the startup at approximately Rs 3,000 crore. This acquisition will enhance HUL's product portfolio to meet the growing demand for differentiated beauty and personal care solutions, catering to changing consumer preferences towards premium and clean beauty products.
The telecom department (DoT) and companies in India used the 'International Incoming Spoofed Calls Prevention System' to block 70% of spoofed calls, reducing them from 1.5 crore to 5 lakh daily. They are now tackling scams using virtual private networks. AI tools like ASTR identified 78 lakh fraudulent connections, blocking many and leading to 365 FIRs.
Peter Schiff warns that Bitcoin could crash to $20,000 if the Nasdaq enters a bear market. He emphasizes the historical correlation between Bitcoin and Nasdaq declines, while also pointing out gold’s potential rise as an alternative safe haven.
Departments such as telecom, defence, railways, and highways have experienced lower capital expenditure with telecom spending just 6% of its annual allocation. Total government capex during April-Nov fell to 49% from 59% last year. The slow spending is attributed to milestones tied to funding and recent elections impacting the first quarter.
Global supply chains are shifting towards India due to a focus on resilience over efficiency, says Tata Sons chairman N Chandrasekaran. He emphasizes that the Tata Group plans to create five lakh manufacturing jobs in critical sectors including batteries, semiconductors, and electric vehicles over the next five years.
Public sector banks (PSBs) in India have seen their gross non-performing assets (GNPA) ratio fall to a historic low of 3.1% as of September 2024. This improvement is attributed to the 4R strategy, recapitalization efforts, and reforms. PSBs' profitability has surged, with net profits reaching ₹1.4 lakh crore in FY24.