Industry leaders foresee a significant global trade realignment following the 27% reciprocal tariffs announced by President Trump. India's impact is expected to be marginal, with minimal disruption to export competitiveness. Enhanced export efficiency and value addition are advised for Indian industries. A well-negotiated US-India trade agreement is anticipated to bolster future collaboration.
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Airtel and Reliance Jio have announced deals to market Elon Musk's Starlink satellite internet in India, pending regulatory approvals. These partnerships aim to enhance network coverage, especially in rural and remote areas where connectivity is limited. Satellite internet services will, however, be more expensive and initially cater to enterprise sectors.
Whirlpool India's shares plummeted 20% as Whirlpool Corporation plans to cut its stake to about 20% this year, generating $550-600 million. The reduced stake aims to provide autonomy for growth and support $700 million debt reduction. Last year, Whirlpool had already reduced its stake from 75% to 51%.
Sebi has issued a cautionary letter to Nestle India over alleged insider trading violated by a high-ranking official. Nestle reassures that this incident will not hinder its financial and operational activities. Sebi's regulations aim to ensure fair market practices and protect common investors' interests.
IndusInd Bank plans to auction Rs 1,573 crore worth of non-performing microfinance loans, setting a reserve price of Rs 85 crore, indicating a significant loss. The bank's promoters have pledged additional shares, raising the total pledged share capital to 6.86%, to secure an existing loan.
Aragen Life Science, formerly GVK Biosciences, secures a $100 million investment from healthcare-focused private equity fund Quadria Capital. The investment will support Aragen’s strategic expansion and infrastructure development to meet growing demand for outsourcing services from US and Europe innovators. This move positions Aragen strongly in the pharmaceutical outsourcing market, enhancing its capabilities and accelerating program delivery.
India's eight core infrastructure sectors showed a slowed growth of 4.3% in November 2024, down from 7.9% in the previous year. However, monthly production hit a four-month high. Cement production surged 13%, while other sectors saw moderated growth. Core sector growth for April-November was 4.2%.
Global oil prices surpassed $81 per barrel, the highest since August 2024, driven by fears of US shipping sanctions affecting Russian oil supplies. This surge is likely to prevent fuel price cuts in India, eliminating the increase in retailers' profits and causing stock declines for major fuel retailers IndianOil, Hindustan Petroleum, and Bharat Petroleum.
India and the US are set to begin negotiations for a bilateral trade agreement aimed at doubling trade to $500 billion by 2030. Commerce Minister Piyush Goyal emphasized the potential for mutual concessions and tariff reductions to facilitate this growth, with negotiations expected to start soon and a strong agreement anticipated within 6-8 months.
The electric vehicle industry in India communicated to Commerce Minister Piyush Goyal that they will no longer require subsidies once the current regime ends. Goyal emphasized the nation's readiness for electric mobility and plans to simplify the setting up of charging infrastructure at petrol pumps. He also expressed intentions to strengthen economic ties with the US amid trade tariff tensions.
Nvidia is set to manufacture up to $500 billion in AI infrastructure within the US over the next four years through strategic partnerships. Production of their Blackwell AI chip has commenced at TSMC's Phoenix facility. This initiative marks the first instance of AI supercomputer production in the United States, a move attributed to tariffs by President Trump.