Mercedes-Benz India is set to increase its prices by 1% to 1.5% starting in September. This decision comes as a direct response to the sustained weakness of the Indian rupee against the euro. According to MD and CEO Santosh Iyer, the exchange rate has remained consistently at the 100 INR mark, necessitating the price adjustment to mitigate the financial impact.
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Kumar Mangalam Birla, Chairman of Aditya Birla Group, joins the US-India Strategic Partnership Forum's Executive Committee, following his Global Leadership Award. The Aditya Birla Group, the largest Indian greenfield investor in the US with over $15 billion, is committed to expanding its American investments. USISPF leaders welcome Birla's expertise in strengthening US-India business ties and fostering innovation.
The Trump administration has announced new flight restrictions from Mexico, potentially ending the Delta-Aeromexico partnership in response to Mexico's limits on flights into Mexico City. Transport Secretary Sean Duffy cited unfair advantages for Mexican carriers due to the redirection of flights to Felipe Angeles International Airport.
Cipla, a prominent drug manufacturer based in Mumbai, is set to enter the weight management market in India, according to MD and Global CEO Umang Vohra's FY25 annual report. The company is also focusing on expanding its influence within the central nervous system therapeutic area, aiming to strengthen its overall market position.
India has significantly increased the flying rights for Kuwait, raising weekly seat capacity by 50% to 18,000. This agreement, signed by aviation officials from both nations, marks Kuwait's first bilateral capacity increase in 18 years. The move comes amid rising travel demand and aligns with India's policy to bolster its carriers' international presence through strategic agreements and infrastructure development.
Wyndham Hotels & Resorts is significantly expanding its presence in India, aiming to become a top growth market with over 50 new properties planned. The company intends to introduce more of its global brands while strengthening existing ones like Ramada.
India has emerged as a global leader in real-time digital payments, primarily driven by the Unified Payments Interface (UPI). Launched in 2016, UPI has revolutionized India's payment ecosystem, processing over 18 billion transactions monthly and accounting for 85% of the country's digital payments.
Despite recent market corrections, Indian equities are still among the priciest globally, with a PE ratio of 23.3, exceeding historical averages. While fundamentals remain strong, projected ROE for FY25 is 15.6%. India's dividend yield, however, is low at 1.2%, potentially limiting appeal for income investors. Nuvama cautions that high valuations and global volatility could restrain further market upside.
Donald Trump's threat to impose 30% tariffs on EU and Mexican exports from August 1 has sparked strong reactions. Ursula von der Leyen criticized the move, vowing countermeasures to protect EU interests while remaining open to negotiation. Mexico rejected the tariffs as unfair, signaling a willingness to continue dialogue despite the looming trade conflict.
Good news for senior citizens. Higher returns are available on fixed deposits. Small finance banks offer up to 8.5% interest on three-year FDs. Utkarsh Small Finance Bank leads with the highest rate. Be mindful of tax deducted at source. Submit Form 15H to avoid TDS if income is below the taxable limit.
In 2024-25, the Indian government disbursed Rs 10,114 crore under Production-Linked Incentive (PLI) schemes, with large-scale electronics manufacturing receiving Rs 5,732 crore and pharmaceuticals securing Rs 2,328 crore. These two sectors collectively accounted for approximately 70% of the total incentive disbursements, highlighting their significant role in the PLI initiative.