1. Tata Electronics to Provide Vehicle Control Elements for Teslas Made in India
Tata Electronics has secured a deal with Tesla to manufacture components such as printed circuit board assemblies for the electric car manufacturer’s battery management systems, motor controller units, and door controls. This partnership signifies Tesla’s interest in entering the Indian market and leveraging local value addition to benefit from reduced import duties for electric vehicle manufacturers investing in India.
2. Apple in Talks with Indian Companies for iPhone Camera Components
Apple is reportedly in advanced discussions with the Murugappa Group and Tata Group’s Titan Company to produce components for iPhone camera modules in India. This move aligns with Apple’s strategy to shift a significant portion of its supply chain to India, aiming to increase local value addition by nearly 50 percent over the next three years.
3. Mahindra Group Investing in Renewable Energy Project
The Mahindra Group plans to invest Rs 1,200 crore in developing a 150 MW hybrid solar plus wind project in Maharashtra. The project, to be executed by Mahindra Susten, aims to integrate locally manufactured parts, reflecting the growing trend of investments in hybrid renewable energy projects in India.
4. Rise in Indian Unicorns Expected
The Indian start-up ecosystem is anticipated to witness a significant increase in the number of unicorns, with around 20 companies nearing unicorn status by March. These include ventures such as Bookmyshow, Navi, Paymate, and others, reflecting India’s ongoing push for financial digitization and innovation in various sectors.
5. Government Initiatives to Support Indian Start-up Funding
The central government is developing a framework to mitigate risks for local pension funds and insurers interested in investing in start-ups. This initiative aims to facilitate greater investment in Indian start-ups, contributing to the growth of the country’s entrepreneurial ecosystem.
6. Cognizant CEO Tops List of Highest-Paid IT Executives in India
Cognizant Technology Solutions’ CEO, Ravi Kumar Singisetti, received significant compensation, making him the highest-paid executive among Indian technology services companies. This highlights the issue of CEO pay in the context of challenging market conditions for software services firms.
7. Indian Government Plans to Introduce Stricter Fuel Economy Norms
The Indian government is preparing to introduce the next phase of fuel economy norms, aligning them with European standards. These norms aim to enhance fuel efficiency in automobiles, contributing to India’s efforts to reduce carbon emissions and meet climate targets.
8. Legal Dispute Between Hotel Leela Venture and ITC Continues
Hotel Leela Venture is contesting ITC’s allegations of shareholder oppression in a legal dispute stemming from the sale of Leela properties to Canada’s Brookfield. This ongoing conflict underscores the complexities surrounding corporate governance and minority shareholder rights.
9. Decline in Private Equity Investment in Real Estate Sector
Private equity funding in India’s real estate sector witnessed a 16 percent decline in the fiscal year ended March 31, primarily due to subdued interest from foreign investors. This decline reflects broader market trends influenced by factors such as stock market performance and geopolitical instability.
10. Start-ups Recruiting Talent from Business Schools
Start-ups like Navi, Addverb, BlueStone, and Erekrut are actively hiring fresh graduates from India’s premier business schools. This recruitment drive comes amid muted placement activities at business schools, indicating promising opportunities in the start-up sector for management graduates.
