Expansion Milestone: Adani Ports Receives Green Light for ₹45,000 Crore Mundra Project

Adani Ports & SEZ Set to Redefine India’s Maritime Landscape with ₹45,000 Crore Mundra Port Expansion. With this expansion, APSEZ aims to significantly enhance its operational capabilities, projecting to surpass 200 million metric tonnes (MMT) of cargo throughput at Mundra alone by FY25. Beyond maritime operations, Mundra is poised to become a hub for renewable energy manufacturing, with plans underway for the world’s largest facility of its kind. As APSEZ prepares to embark on this ambitious expansion journey, stakeholders anticipate substantial economic benefits, job creation, and heightened logistical efficiency. This…

Global Airlines Eye Expanding Opportunities in India’s Booming Travel Market

Turkish turns to partner airlines to boost India flights. Wizz Air aims to launch its first India flight in 2025. International passengers to grow to 160 million by 2030. Local carriers IndiGo, Air India expand with new planes. Aircraft lessor DAE says India demands “unlike” elsewhere. Global airlines are actively expanding their operations in India, betting on the country to emerge as one of the most vibrant travel markets in the coming decade. At the recent International Air Transport Association (IATA) summit in Dubai, India stood out as a focal…

US court levies $194 mn penal charges on TCS

A US court recently ruled against India’s largest IT services exporter,Tata Consultancy Services (TCS) in a trade secrets misappropriation case. This significant penalty arises from a case where TCS was found guilty of unlawfully accessing and using proprietary information belonging to another company. A court in the United States found TCS liable for misappropriating trade secrets from an unnamed company, likely Computer Sciences Corporation (CSC) which has since merged with DXC Technology. The lawsuit, filed five years ago, alleged that TCS stole CSC’s trade secrets. TCS must pay around $194…

Hyundai Motor India Seeks Record IPO, Aims for $3 Billion in Stock market Listing

Hyundai Motor India has taken significant steps towards its much-anticipated initial public offering (IPO) by seeking regulatory approval for a listing on the Mumbai stock exchange. This move could potentially make it the largest IPO in India’s history, with plans to raise between $2.5 billion to $3 billion. The decision to go public marks a strategic move for Hyundai Motor India, as it anticipates benefits such as enhanced visibility, improved brand image, and increased liquidity through access to the public market. This IPO is significant as the first by an…

Resilience Amidst Turmoil: Indian Stocks Stage Swift Recovery After Election Shock

In a striking display of resilience, India’s stock market swiftly rebounded from the tumultuous aftermath of the recent elections, marking one of the fastest recoveries in a decade. The rapid resurgence of Indian stocks reflects the strong confidence of domestic investors, who capitalized on the near-$400 billion selloff by buying discounted prices. This turnaround reflects investors’ faith in local equities’ long-term growth potential and their readiness to endure short-term volatility for favorable returns. The liquidity influx has led to challenges, including inflated prices for smaller stocks, driven by non-institutional players’…

India’s Economic Growth to Maintain Momentum: World Bank Forecasts 6.7% GDP Growth for Next Three Years

The World Bank predicts a steady growth rate of 6.7% for the next three fiscal years, positioning India as the fastest-growing economy globally. In its ‘Global Economic Prospects’ report, the World Bank reaffirmed its growth forecast for India at 6.6% for the fiscal year 2024-25. For the subsequent fiscal years of 2025-26 and 2026-27, the World Bank forecasts India’s economy to maintain its momentum with growth rates of 6.7% and 6.8%, respectively. The IMF and the  RBI have also revised their growth forecasts for India, citing strong domestic demand and…

Bengaluru Drives India’s Electric Vehicle Revolution: Karnataka Leads in Charging Infrastructure

Bengaluru is spearheading the nation’s transition towards electric mobility, surpassing major metropolitan centers like New Delhi and Mumbai in electric vehicle (EV) registrations. In the year 2023, Bengaluru witnessed a remarkable surge in electric car registrations, with figures exceeding 8,690 units, marking a significant threefold increase from previous years. Karnataka has witnessed an exponential five-fold increase in EV registrations between 2018 and 2021, firmly establishing itself as one of India’s foremost advocates for sustainable mobility. A collaborative initiative between the UK Government, NITI Aayog, and the Government of Karnataka has…

Economic Rs. 1.39 lakh Cr in tax devolution to support State finances & spur Govt releases over

The Centre has announced the release of a significant instalment of one crore thirty thousand 750 crore rupees in tax devolution to states. The Finance Ministry said yesterday that the release, which includes both the regular allocation for June and an additional instalment, is aimed at bolstering state government capacity to accelerate development and capital expenditure. It further said that as of today, the total amount devolved to states for the fiscal year 2024-25 stands at two crore 79 thousand, and five hundred crore rupees. The Interim Budget 2024-25 had…

Sensex Hits Record High as RBI’s Growth Forecast Sparks Market Rally

Sensex Soars to New Heights RBI’s Growth Projection Boosts Sentiment Sectoral Surge Led by Interest Rate Sensitive Stocks Tech and Banking Stocks Lead the Charge Real Estate and Auto Sectors Shine Political Controversy on stock market crash on Election result day. Rahul Gandhi demanded a JPC probe. The Sensex, India’s benchmark stock index, surged to unprecedented heights, marking a remarkable recovery from recent setbacks triggered by political developments and election uncertainties. The surge came on the heels of the Reserve Bank of India’s (RBI) optimistic GDP growth forecast for the…

Reserve Bank of India’s MPC Meeting: Insights into Economic Policy and Regulatory Revisions

GDP growth for the financial year 2024-25 projected at 7.2% Standing Deposit Facility (SDF) rate stays put at 6.25% RBI keeps the inflation forecast for FY25 steady at 4.5% The recent Reserve Bank of India (RBI) Monetary Policy Committee (MPC) meeting unfolded against the backdrop of evolving economic dynamics and regulatory imperatives. Led by RBI Governor Shaktikanta Das, the MPC deliberated on a range of policy measures aimed at navigating the intricacies of inflation management, economic growth, and regulatory enhancements. Here’s a comprehensive overview of the key takeaways from the…