TRILLION DOLLAR INDUSTRY
Tamil Nadu govt to establish international airport in Hosur: State CM Stalin
The Tamil Nadu government plans to establish an international airport on 2,000 acres in Hosur, capable of handling 30 million passengers annually, to support the industrial growth in Krishnagiri and Dharmapuri districts. Chief Minister M K Stalin announced this in the Assembly, highlighting the socio-economic benefits for the region. This initiative has been well-received by various political parties.
Dollar hits 38-year high vs yen; stocks mixed
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, gained 0.31% at 106.00, with the euro down 0.25% at $1.0686.
By 2032, India infrastructure spending will surpass $2.5 trillion, says Adani
The Adani Group, he said, will invest over $100 billion (around ₹8.35 lakh crore) over the next decade in energy transition projects and in manufacturing every major component required for green energy generation. Adani Green Energy is building solar and wind parks. The group is also building facilities to manufacture electrolyzers to make green hydrogen, wind power turbines and solar panels.
MeitY meets firms to review concerns on Digital Competition Law
Indian policymakers discussed the impact of the proposed Digital Competition Bill on data and digital markets at the MEITY meeting with industry representatives. Stakeholders had differing opinions on the regulations, with some supporting its provisions while others raised concerns about deterred investments.
Dollar firm as euro wallows; yuan brushes aside China data
The dollar remains strong as the euro nears a one-month low amid concerns in Europe. China's economic data suggests an uneven recovery. Political turmoil in Europe affects the euro, benefiting the dollar indirectly.
IT industry's competitive intensity to be at highest levels in FY25: HCLTech CEO C Vijayakumar
Despite a challenging economic environment, HCLTech has achieved remarkable annual growth and outpaced larger competitors. The third-largest software services firm, with annual revenues of $13.27 billion, reported growth that outpaced Tata Consultancy Services 4.1% and Infosys 1.4%. Smaller players such as Wipro and Tech Mahindra faced significant struggles.
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'Conspiring to mislead the investors': BJP hits back at Rahul Gandhi on 'stock market scam' charge
BJP responds to Rahul Gandhi's stock market scam allegations against PM Modi and Amit Shah. Piyush Goyal accuses Rahul of creating fear in investors, highlights India's economic growth and market cap increase.
World stocks at record high after cautious ECB rate cut
It was enough to snip the pan-European STOXX 600's gains back to 0.6%, while the euro inched up to almost $1.0890 against the dollar and government bond yields - which reflect borrowing costs and move inversely to price - ticked up too.
S&P 500, Nasdaq close at record highs as data supports Fed easing
S&P 500 and Nasdaq hit record highs on Wednesday fueled by tech stocks amid expectations of Fed's easing cycle, impacting various sectors and economic indicators.
India's m-cap adds a trillion in 117 days
The trillion-dollar market-cap addition to $5 trillion happened in less than six months, in 117 sessions. The market value of BSE-listed companies crossed $4 trillion for the first time on Nov 29, 2023.
Zimbabwe authorities mix charm with force in an attempt to shore up the world's newest currency
Although money typically doesn't require publicity, Zimbabwe's sixth national currency in 15 years needs all the help it can get. Desperate to halt a money crisis underlining the country's economic troubles, the government launched the gold-backed ZiG, the latest attempt to replace the Zimbabwe dollar, which had been battered by depreciation and often outright rejection by people unwilling to put their faith in it.
From Tokyo to New York, stock markets are on a record-hitting spree around the world
Equity markets worldwide are experiencing highs. In the US, the S&P 500 and Nasdaq 100 indexes hit records this week, while the Dow Jones Industrial Average crossed 40,000 for the first time ever. Meanwhile, the biggest bourses in Europe, Canada, Brazil, India, Japan and Australia are currently at or near their peaks.
Gold rallies on rate cut expectations amid US economy slowdown
Spot gold rose on Friday despite US inflation data, anticipating rate cuts amid a weakening US economy. US CPI and PPI Final demand were below forecasts. US Fed Chair Powell remains optimistic about inflation. US Philadelphia Fed business outlook was below expectations. Fed officials hold varying views on rate adjustments.
India could become 3rd largest economy by 2027-28, extreme poverty in rural areas largely conquered: Arvind Panagariya
Arvind Panagariya, Chairman of the 16th Finance Commission, predicts that India could become the world's third-largest economy by 2027-28 if it sustains its growth trajectory of the past two decades. He notes that extreme poverty, which currently affects less than 3% of the population, has significantly declined, especially in rural areas. Panagariya emphasizes the need to address under-employment in agriculture by transitioning workers to the industrial and services sectors for faster urbanization.
Progressives forget their free-trade heritage at own peril
US President Joe Biden has not only kept in place Donald Trump’s tariffs but brought into existence subsidies and incentives worth trillions of dollars.
Chinese exports are threatening Biden's industrial agenda
Americans are not alone in their complaints about China's new tide of exports. European leaders have raised similar concerns.
6 tectonic shifts: Corporate profitability can touch $1 trillion by 2035, Nifty at 100K: Vikas Khemani
Vikas Khemani projects India's corporate profitability to reach $1 trillion by 2035, potentially boosting Nifty to around 1 lakh. He highlights the growth opportunities across various sectors and the transformative potential of long-term investments in India's evolving market. Khemani says: "Our per capita will move from $2,600 to $18,000. Our world share of GDP will go to 16% which is right now in and around 4%."
Buy into industrials on every dip; adding exposure in IT stocks: Pankaj Murarka
Pankaj Murarka of Renaissance Investment Managers discusses investment opportunities in various sectors like IT, clean energy, pharma, and consumer discretionary. He emphasizes growth potential in private sector capex and industrial sectors amidst economic recovery. Murarka also says "my expectation is that we will see a sharp revival in private sector capex also which has been missing for almost a decade."
ETMarkets Smart Talk: Global semiconductor sector likely to reach a trillion-dollar industry by 2030: Anil Rego
Anil Rego foresees the semiconductor industry becoming a trillion-dollar sector by 2030, driven by automotive, data storage, and wireless industries. He recommends focusing on high-quality stocks in banking, auto & ancillaries, and building materials segments for incremental earnings. He also says risks are currently exogenous such as global slowdown and geopolitical uncertainty..
India invites investors from IPEF nations to invest in $1 trillion clean economy opportunity
The 14-countries of the IPEF Thursday announced plans to provide $33 million in initial grant funding for the IPEF Catalytic Capital Fund for climate infrastructure projects. The fund is proposed under the Pillar III Clean Economy Agreement of the framework.
‘Regulated carbon markets are worth a trillion dollars a year and cover 25% of global emissions — they are raising climate ambition worldwide’
Ruben Lubowski, an environmental economist, discusses economic strategies for tackling climate change, protecting forests, and restoring natural ecosystems. He highlights the success of the Brazilian government in reducing deforestation and the importance of carbon emissions trading schemes and industry-wide standards.
Preference for locally made goods to support mfg sector achieve 25% of the GDP of $30 trillion economy: Goyal
Piyush Goyal, India's Minister of Commerce and Industry, emphasized the potential for India to become a global manufacturing powerhouse by focusing on exports and promoting locally made goods. He urged stakeholders to support the manufacturing sector, stating it could contribute 25% to the GDP of a $30 trillion economy in 2027.
Indian stocks close to hitting $5 trillion peak, retail investors win jackpot
The Indian stock market is on the verge of hitting the coveted $5 trillion market capitalisation mark following an unprecedented amount of wealth creation. India joined the $4 trillion club on 29 November 2023 and is now the fourth largest stock market in the world. Going by the track record of last 3 months, India can join the exclusive $5 trillion club as soon as next month. Dalal Street is now at $4.8 trillion-level and fourth largest in world. Jefferies expects $10 trillion by 2030. Retail investors have made the most of this mega bull run.
'Thousands' of new ETFs seen in $8 trillion market's next leap
But inside the annual Exchange conference, industry insiders were obsessing over an event that could prove a far bigger deal for the $8.4 trillion business than the long-awaited launch of spot Bitcoin ETFs: Regulatory approval of new share-class structures.
India Inc On The Move 2024: Smart and Sustainable Manufacturing - Accelerating towards trillion dollars and net zero
India aims to become a 5-trillion-dollar economy by increasing the manufacturing sector's contribution to GDP. The 'India Inc On The Move 2024' event focuses on smart and sustainable practices, addressing policy changes, investments, and the convergence of IT and OT.
RIL turns bigger than McDonald's, Netflix as Mukesh Ambani fuelling India’s $1 trillion dream
Reliance Industries, owned by Mukesh Ambani, has become the largest wealth creator on Dalal Street with a market capitalization of Rs 20 lakh crore. It is bigger than American giants like McDonald's, PepsiCo, Netflix, and Accenture. RIL is also the only Indian company among the world's 50 most valuable companies and is also one of the top candidates to become India's first $1 trillion stock.
Young demographic dividend will see India@100 emerging as a $35-trillion economy: Piyush Goyal
Piyush Goyal defends the government's focus on fighting corruption and promoting fiscal discipline. He highlights the importance of unity and inclusivity in India, emphasizing that the country's progress and well-being are interconnected and that no state should prioritize its own interests over the greater good.
Maharashtra to be major contributor in PM Modi's dream of India's 5 trillion dollar economy, says Fadnavis
Maharashtra Deputy Chief Minister, Devendra Fadnavis, has stated that Maharashtra will get a share of $1tn in Prime Minister, Narendra Modi's, $5tn economy scheme. Speaking after hoisting the national flag on Independence Day, the Deputy CM explained that the Maharashtra government is working 24x7 for all sections of society with an aim to transform their lives. The government will make Gadchiroli the next investment destination for Maharashtra, with the district expected to get significant investments from industries.
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