Godrej Industries Group has unveiled its new wealth management venture, Godrej Wealth, aiming for a substantial Rs 1,00,000 crore in assets under management by 2031. This expansion into financial services targets affluent clients with investable assets of Rs 2 crore and above, offering comprehensive services including succession planning and global investments.
Billionaire Uday Kotak urged Indian businesses to invest in the future, highlighting a global lag in AI technology. He cited Google’s massive $80 billion AI infrastructure investment, noting its scale dwarfs India’s entire listed market. Kotak called this a wake-up call for companies to prioritize future growth, especially after the IPL season concludes, emphasizing the
India has dropped to seventh in global stock market valuation, overtaken by South Korea and Taiwan. This decline, attributed to sustained foreign fund selling and muted corporate earnings, contrasts with the AI chip leadership of South Korean and Taiwanese firms. Despite a recent Sensex uptick driven by domestic buying, foreign investors remain net sellers, impacting
India and the UK are working to resolve outstanding issues, including steel quotas and duties, to expedite the implementation of their bilateral trade agreement. Discussions between Commerce Minister Piyush Goyal and UK Secretary of State Peter Kyle focused on overcoming these sticking points to advance economic engagement and strengthen the partnership.
The government is developing new indices to measure industrial and service sector production in India’s vast informal economy. These will draw from extensive surveys to provide a clearer picture of the unorganized sector, moving beyond proxy methods that distorted data, especially post-pandemic. The new metrics aim to improve policymaking for millions reliant on this sector.
Citi’s Vis Raghavan notes muted FDI in India due to energy dependency and AI uncertainty, despite strong domestic sentiment. He highlights the need for India to articulate its AI-driven global economy position, emphasizing its cost advantage in compute and potential as a global AI hub.
Despite challenging global markets, several major Indian companies are pushing ahead with IPO plans. Oyo’s parent, Prism, received regulatory approval for a Rs 6,650 crore offering. Coca-Cola is also exploring a $1 billion listing for its Indian bottling arm, Hindustan Coca-Cola Holdings, in 2027. Other notable firms like Zepto and Manipal Hospitals are also preparing
Companies are facing rising costs for both cans and glass bottles this summer, impacting beer and soft drink manufacturers. Supply disruptions from West Asia for aluminium cans and increased LPG costs have led to price hikes of 15-20% for packaging. Distributors anticipate a Rs 10 price increase for 300 ml Diet Coke cans.
India is set to introduce a Producer Price Index (PPI) on June 15, alongside a revised Wholesale Price Index (WPI). The government plans to phase out WPI within five years, adopting PPI as the primary measure for factory gate inflation. This move aligns India with global standards, offering a more comprehensive inflation metric.
