China's exports experienced a faster growth in June, driven by a temporary easing of US tariffs, leading to a surge in orders before an impending deadline. Despite a decline in exports to the US, overall trade activity expanded, with exports to Southeast Asia and the EU increasing.
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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.
Indian stock investors brace for a busy week, closely monitoring quarterly earnings from major companies. The potential results of India-US trade discussions and upcoming inflation figures will significantly influence market direction. Global market performance and foreign investor activity are also key factors. Analysts emphasize the importance of tracking both WPI and CPI inflation data during this crucial period.
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.
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.
NLC India, a state-owned enterprise, is in advanced talks with a Russian entity to secure lithium from a mine in Mali, Africa, a crucial move for India's energy transition. This initiative aligns with India's strategy to ensure consistent lithium supplies for its clean energy goals, particularly for electric vehicle batteries.
India's tax administration has seen significant improvements, leading to a five-fold increase in income tax refunds and a reduction in processing time from 93 to 17 days. Direct tax collections have tripled in the last decade, reflecting increased formalization and voluntary participation.
Malaysia has placed immediate restrictions on the movement of high-performance AI chips from the US. This is to prevent unauthorized rerouting to countries like China. All movements of US-origin AI chips now need a permit. This move follows concerns about transshipment of chips via Malaysia. Malaysia is investigating reports of Chinese firms circumventing US export controls.
BSE and NSE shares have plummeted due to the Jane Street controversy, regulatory actions, and declining derivatives volume, resulting in a significant market capitalization loss. BSE has entered a bear market, while NSE approaches a substantial reduction.
India's petroleum regulator, PNGRB, has mandated a uniform rate for piped natural gas (PNG) for all households, regardless of consumption. This directive addresses concerns that tiered pricing systems may encourage misuse of subsidized gas by commercial entities misclassified as domestic consumers.