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Middle East tensions surged as Iran launched missiles towards Kuwait and Bahrain, prompting US retaliatory strikes. Despite ongoing peace talks, no breakthrough has occurred, and the Strait of Hormuz remains disrupted for 96 days. Meanwhile, US crude inventories saw a significant drop for the seventh consecutive week, adding to market volatility.
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.
