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BUSINESS AND ECONOMY - December 2014

Dec 2014

Aug 19, 2025

Foxconn's Bengaluru Unit Commences Operation with iPhone 17 Production

In India's electronics manufacturing sector, Foxconn's new facility in Bengaluru officially commenced operations with the production of iPhone 17. This makes the Devanahalli unit in Karnataka the company's second-largest plant globally outside China, strengthening India's position in Apple's global supply chain.
The launch marks a significant milestone in India's ambitions to become a global hub for advanced electronics and smartphone manufacturing.
Foxconn, Apple's biggest manufacturing partner, has been steadily scaling up operations in India. While its Chennai unit in Tamil Nadu has been producing iPhones for several years, the new Bengaluru facility represents a strategic investment to diversify production outside of China.

China to Resume Fertilizer, Rare Earth, TBM Supply to India

India and China took a step towards normalising relations as visiting Chinese Foreign Minister Wang Yi assured External Affairs Minister (EAM) S. Jaishankar that Beijing will resume critical supplies of fertilizers, rare earth minerals, and tunnel boring machines (TBMs) to India.
The assurance comes after nearly a year-long halt that had strained India's agriculture and infrastructure sectors.

First for India: Kotak Mahindra Wins UAE License to Launch Local Funds

Kotak Mahindra (International) Limited ("KMIL"), a wholly owned subsidiary of Kotak Mahindra Bank Limited, was granted a license by the Securities and Commodities Authority ("SCA"), the capital markets regulator of the United Arab Emirates, to conduct Investment Fund Management and Portfolio Management activities.
With this approval, KMIL became the first Indian firm to receive this license from the SCA, marking a significant milestone in the evolution of cross-border financial services. This development paves the way for the launch of UAE-domiciled funds for retail investors, further reinforcing the UAE's position as a regional financial and investment hub.

Aug 18, 2025

Platinum Industries Joins 2025 Barclays Hurun India List of Most Valuable Family Businesses

Platinum Industries Ltd., one of India's most respected family-run manufacturers in the chemical manufacturing sector, announced its inclusion in the 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses List. This marks the first time Platinum has been featured on this prestigious platform, which honours the nation's most valuable family enterprises.
The annual list, now expanded to 300 families with 100 new entrants this year (2025), showcases the strength and influence of Indian family businesses. Together, these companies control an astounding USD 1.6 trillion (INR 134 lakh crore) in value, a figure that exceeds the combined GDP of Turkey and Finland and generated INR 7,100 crore in value every day over the past year.

Tata Sons Shareholders Unanimously Approve Noel N. Tata's Appointment as Director

Tata Sons shareholders unanimously approved the appointment of Noel N. Tata as a Director during the company's 2025 Annual General Meeting (AGM). The meeting marked a new chapter in the group's leadership following the passing of Ratan Tata, the group's iconic figure.
Held virtually the AGM also saw all six resolutions passed without opposition signalling consensus and optimism about the Tata Group's direction.

Yogi Adityanath Inaugurates Uttar Pradesh's First Green Hydrogen Plant in Gorakhpur

Uttar Pradesh Chief Minister Yogi Adityanath inaugurated the state's first and the country's second green hydrogen plant at Khanimpur village in Gorakhpur, set up by Torrent Gas and Torrent Power.
Calling it a milestone in clean energy transition, Adityanath said that green hydrogen represents the energy of the future and would play a decisive role in protecting biodiversity, reducing carbon emissions and improving human health.

Microsoft Tops TopBrand 2025 Global Brands List; NVIDIA and Apple Follow

At the 19^th China Brand Festival, held in Shenzhen the TopBrand Union unveiled its Top 500 Global Brands List 2025. The rankings highlighted the dominance of US tech giants, with Microsoft, NVIDIA, and Apple securing the top three positions, respectively. The event, themed "AI and Global Expansion", drew over 10,000 participants, including entrepreneurs, policymakers, and brand leaders from across the globe.
According to the report, brand valuations (in USD) are as follows: Microsoft – $1,062.505 billion, NVIDIA – $1,046.760 billion, Apple – $997.685 billion, Amazon, Alphabet (Google), Saudi Aramco, Walmart, Meta (Facebook), Berkshire Hathaway and Broadcom.
Microsoft's leadership reflects its continued dominance in AI, cloud computing, and enterprise software solutions.
NVIDIA's rose to the second place underscores the AI chip revolution and its role in powering next-gen technologies.
Apple's third place reflects its strong consumer ecosystem despite intense market competition.

Aug 17, 2025

NTPC Becomes First PSU to Adopt Global Standard for Power Supply Continuity

NTPC Limited, India's largest power producer, became the first public sector company in the country's power industry to implement a Business Continuity Plan (BCP) aligned with ISO 22301:2019, the international benchmark for business continuity management systems (BCMS).
NTPC said the plan would strengthen its ability to maintain uninterrupted power generation and supply in the face of unexpected events.

India Welcomes First Sovereign Rating Upgrade in 18 Years to 'BBB'

India received its first sovereign credit rating upgrade in 18 years, with S&P Global Ratings raising the country's long-term rating to 'BBB' from 'BBB-' and the short-term rating to 'A-2' from 'A-3', while keeping the outlook stable.
This upgrade reflects India's robust economic growth, sustained fiscal consolidation, and policy stability. The stable outlook indicates that continued policy stability and high infrastructure investment will support India's long-term growth prospects.

Aug 16, 2025

Tata Motors Enters Dominican Republic

Tata Motors forayed into the Dominican Republic market through a strategic partnership with Equimax, its authorised distributor.
The launch marks a significant milestone in the company's global expansion strategy and introduces a tailored portfolio of commercial vehicles designed to meet the evolving needs of the region's logistics, infrastructure, and last-mile delivery sectors.
The Dominican Republic presents a high-potential market aligned with Tata Motors' commercial vehicles' global growth ambitions.

Centre Unveils Two-Slab GST Overhaul: 5% and 18% Rates, 40% for Sin Goods

The Goods and Services Tax (GST) is set for a major overhaul as the Centre proposes a simplified two-slab system of 5% and 18%, along with a 40% rate for select sin goods like tobacco and pan masala. The proposal—part of the next-generation GST reforms—is expected to be taken up by the GST Council in September or October 2025 and could come into effect as early as the third quarter of FY 2025-26.
Two Main Slabs
5% slab: Will include most daily-use and common goods; 99% of items currently taxed at 12% will move here.
18% slab: Will include white goods and aspirational items such as TVs and refrigerators (currently at 28%).
40% rate: Reserved for five to seven sin goods—including tobacco and pan masala—replacing the existing compensation cess.

Aug 15, 2025

IBM's New Mumbai Office Inaugurated by CM Fadnavis

Maharashtra Chief Minister Devendra Fadnavis inaugurated IBM's new office in Mumbai. Far more than just a corporate milestone, the CM declared the opening as a pivotal step toward shaping the future of both Maharashtra and India.
Highlighting the transformative potential of emerging technologies, he emphasised that Maharashtra is embracing the vision of Viksit Bharat and Viksit Maharashtra through Artificial Intelligence (AI) and quantum computing.

Ravi Narayanan Appointed CEO of SMFG India Credit

In a significant development for the Indian non-banking financial sector, Ravi Narayanan, former Group Executive at Axis Bank, was appointed CEO of SMFG India Credit.
The appointment of Ravi Narayanan is seen as the first major leadership overhaul at SMFG India Credit since its acquisition by the Japanese financial giant, SMFG. Narayanan, who previously led retail liabilities, branch banking, and products at Axis Bank, brings with him extensive experience in India's retail banking landscape.

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