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.
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The Reserve Bank of India may lower policy rates by 50 bps in the first half of 2025, following a recent liquidity easing and CRR reduction. This move is expected to support growth but could temporarily impact bank earnings and asset quality. SMEs and the MFI segment may face ongoing stress.
GCCs in India are set to outpace IT services in hiring for the second consecutive year, driving innovation for their parent firms. Top Indian IT companies saw a modest headcount increase in 2024 compared to the previous year. With automation and productivity gains, IT firms face slow growth, while GCCs continue to expand, creating significant job opportunities and boosting the IT sector.
New Income Tax Bill 2025: The language used in the Bill at many places is extremely lucid and is reader friendly as it has tables and formulas as against the traditional verbose style.
India's auto components industry saw robust growth in the first half of FY25, with an 11.3% increase in market size to $39.6 billion. Demand for larger vehicles, especially UVs, surged, alongside a rise in 350-500cc motorcycles. EV sales grew overall, but e-PVs declined. Exports performed strongly, with the USA, Germany, and Turkey as top destinations.
Canon sees a promising opportunity in India's burgeoning semiconductor market. The company is negotiating with chip manufacturers setting up facilities in India to supply its lithography equipment. Canon is optimistic about achieving double-digit growth in the coming years, driven by India's strong economic outlook and expanding industries.
Apple has unveiled a $500 billion investment plan for the US over the next four years, which includes a significant AI server factory in Texas and 20,000 new R&D jobs. This initiative aligns with Apple's ongoing commitment to American innovation and manufacturing. CEO Tim Cook's announcement follows a recent meeting with President Trump, amid ongoing US tariffs on Chinese goods.
Finance Minister Nirmala Sitharaman, presenting the Union budget 2025, announced plans for 1.5 lakh rural post offices to boost the rural economy. The budget includes a new urea plant in Assam and enhanced investment limits for MSMEs. The government will also support the National Cooperative Development Corporation to aid small businesses and farmers.
Latest Post Office Small Savings Schemes Rates: The government has announced that interest rates for small savings schemes will remain unchanged for the first quarter of FY 2025-26. PPF will continue at 7.1%, NSC at 7.7%, and both SCSS and SSY at 8.2%. Quarterly reviews determine these rates based on guidelines ensuring competitiveness.
India views the USA's announcement of 26% reciprocal tariffs as a 'mixed bag' rather than a 'setback.' The imposition includes a universal 10% tariff on all imports starting April 5, with an additional 16% from April 10. Discussions on a bilateral trade agreement between the two nations continue, aiming for completion by fall.
HCLTech celebrated its 25th IPO anniversary with a bell-ringing ceremony at NSE in Mumbai. Over 25 years, an Rs 58,000 investment during its IPO reached about Rs 32 lakh. The company announced a special dividend and highlighted its growth to over 220,000 employees worldwide.