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In its latest report, BNP Paribas highlights a mixed outlook for the Indian economy, noting a recovery in key indicators such as credit growth, industrial production, and GST collections following a downturn in late 2024. Despite an estimated GDP growth of 6.4% for FY25, corporate earnings are projected to slow to 4-5%, particularly in sectors like oil refining, after benefiting from declining commodity prices last year. Elevated equity valuations persist, with the Nifty50 index trading at a premium to global counterparts, driven by strong economic growth. However, the report warns that rising supply from IPOs and foreign institutional investor (FII) selling—now at a decade low—could cap valuations. While domestic institutional flows have increased, the ongoing FII sell-off poses a risk to market stability, as India has historically attracted significant foreign investment despite current challenges like rising US yields and high valuations. 
Published: Jan 22 2025, 3 pmeznews.inThe US Commerce Department is closely examining the recently announced 'America First Trade Policy' by President Donald Trump, assessing its potential impacts on India. Officials are gathering insights from various ministries to evaluate provisions that could either benefit or concern India, particularly regarding the investigation into the US's significant trade deficits. With India enjoying a trade surplus of over $35 billion with the US, the policy's implications could be significant, though no immediate actions are anticipated until the US takes concrete steps. The Indian government is proactively consulting with industry stakeholders to identify areas for potential duty adjustments and concessions. While the policy criticizes China's trade practices, it does not directly address India. Over the next few months, India will monitor US trade actions and formulate responses through inter-ministerial discussions.
Published: Jan 22 2025, 8 pmeznews.inIndia's Competition Commission (CCI) has garnered international acclaim with its nomination for the 2025 Concurrences Antitrust Writing Awards, specifically for its "Determination of Monetary Penalty Guidelines, 2024," in the Soft Laws & Studies category. These guidelines, introduced in 2024, establish a clear framework for imposing monetary penalties in antitrust cases, thereby enhancing transparency and predictability in enforcement. This recognition underscores India's growing influence in the global competition law arena and reflects the country's commitment to aligning its regulatory practices with international standards. Should the CCI win, it would signify a notable advancement in India's regulatory landscape. The nomination highlights the importance of competition law in maintaining fair market practices, with industry experts and legal professionals closely monitoring the awards' outcome.
Published: Jan 22 2025, 8 pmeznews.inPNB Housing Finance Ltd (PNBHFL) aims to expand its retail home loan book to ₹1 lakh crore by March 2027, with a significant focus on the affordable housing segment, targeting ₹15,000 crore within that timeframe. Currently, the retail book stands at ₹70,767 crore, growing at 17.5%, up from ₹63,306 crore in March 2024. The company, which launched its affordable housing segment in January 2023, has seen its assets under management in this area double to ₹3,838 crore in nine months. PNBHFL anticipates a net profit exceeding ₹1,800 crore for the current fiscal year, with a consolidated net profit of ₹483 crore reported for Q3 2024. Managing Director Girish Kousgi emphasized the strong demand across all mortgage segments and called for tax incentives for affordable housing developers to stimulate growth in this sector, aligning with the government's housing initiatives.
Published: Jan 22 2025, 8 pmeznews.inThe Confederation of Indian Industry (CII) has called for a thorough review of the accounting framework for intangible assets, emphasizing their growing importance in India's digital economy. Director General Chandrajit Banerjee highlighted that the current standards, particularly Indian Financial Reporting Standard Ind AS 38, fail to recognize internally generated intangibles, which hampers accurate financial reporting and investor visibility. CII identified six key areas needing attention, including the capitalisation of brand-building expenses, the treatment of development costs for SaaS and cloud services, and the recognition of intangibles in the pharmaceutical and automotive sectors. Additionally, the report urged for clearer guidelines on Carbon Credits and a more flexible approach to the revaluation of intangible assets, as the disparity between market capitalisation and book value continues to grow. Addressing these issues could enhance India's competitiveness and attract global investment.
Published: Jan 22 2025, 7 pmeznews.inThe Union Cabinet has approved a minimum support price (MSP) of ₹5,650 per quintal for raw jute for the 2025-26 marketing season, marking a ₹315 increase, or approximately 6%, from the previous season. This decision, made by the Cabinet Committee on Economic Affairs under Prime Minister Narendra Modi, aims to provide farmers with a return of 66.8% over the all-India weighted average cost of production, adhering to the government's commitment to set MSP at 1.5 times the production cost. Since 2014-15, the MSP for raw jute has risen from ₹2,400 to ₹5,650, benefiting around 40 lakh farm families and providing direct employment to 4 lakh workers in the jute industry. The Jute Corporation of India will continue to manage price support operations, addressing concerns over volatile jute prices that have affected farmers in recent years.
Published: Jan 22 2025, 7 pmeznews.inGeneral Aeronautics (GA), a Bengaluru-based drone technology firm focused on precision agriculture, has secured an undisclosed amount in a Series A+ funding round led by Fowler Westrup India, a subsidiary of Mahyco Grow. The funding will be utilized to enhance production capacity and develop affordable drone variants, aimed at improving farming practices through automation and efficiency. GA's innovative solutions are already in use by major agrochemical companies, including Syngenta and Bayer, underscoring its credibility in the sector. Founder and CEO Abhishek Burman emphasized the investment's role in transforming agriculture with sustainable technologies, while Fowler Westrup's MD Shardul Kshirsagar highlighted the partnership's potential to boost farmers' incomes and contribute to India's agricultural growth, aligning with the 'Make in India' initiative. This funding marks a significant step in GA's mission to redefine farming practices and empower farmers across the country.
Published: Jan 22 2025, 6 pmeznews.inIn a significant clarification for investors, India's Central Board of Direct Taxes (CBDT) announced that past investments under tax treaties with Mauritius, Cyprus, and Singapore will not be impacted by the Principal Purpose Test (PPT), a measure designed to prevent tax treaty misuse. The PPT, part of the Base Erosion and Profit Shifting (BEPS) framework, assesses whether business arrangements are genuinely commercial or primarily aimed at tax avoidance. The CBDT emphasized that the PPT will be applied prospectively and will not retroactively affect existing treaty-specific commitments, thereby preserving grandfathering provisions. Experts, including Rohinton Sidhwa from Deloitte India, noted that this clarification alleviates previous uncertainties regarding the India-Mauritius treaty and is expected to facilitate the protocol's implementation by April 2025. The circular is seen as a vital guide for investors, ensuring that treaty benefits cannot be denied without substantial evidence of economic substance.
Published: Jan 22 2025, 6 pmeznews.inThe Coffee Board of India and the National Livelihood Mission-Karnataka have signed a memorandum of understanding aimed at empowering approximately 100,000 women from self-help groups across the state through training in coffee brewing and café management. Signed on January 17, the initiative is designed to foster women entrepreneurship and is part of a broader strategy to promote coffee in Karnataka. The project will be implemented in two phases, starting with 400 women trained as master trainers at the Coffee Board's headquarters in Bengaluru, who will then train others. The Karnataka government has allocated ₹25 crore in the 2024-25 budget to support this initiative, which aims to establish 2,500 coffee kiosks and enhance the skills and market competitiveness of women entrepreneurs, ultimately promoting gender equality and economic growth in the region.
Published: Jan 22 2025, 5 pmeznews.inNDDB Dairy Services (NDS) is set to enhance its operations at the Alamadhi Semen Station in Chennai by introducing 10 new sex-sorting machines, developed using indigenous technology that significantly increases the likelihood of female calf births. These machines, capable of producing 1 million sex-sorted doses annually, will be priced at ₹265 each—three times lower than the rates offered by multinational firms. NDS has already secured an order for 200,000 doses from Rajasthan and is in talks with several state governments, including Uttar Pradesh and Punjab. The 'Gausort' machines, created in collaboration with Jiva Sciences, were inaugurated by Prime Minister Narendra Modi in October 2024. Currently, only a few companies globally manufacture sex-sorted semen, with NDS aiming to operate these machines across various states rather than selling them outright. The initiative is expected to revolutionize the dairy industry by making sex-sorted semen more accessible and affordable.
Published: Jan 22 2025, 3 pm
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