Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: An upward revision in Q3FY25 inflation highlighted ongoing concerns about persistent price pressures, prompting investors to book profits by the day's end. Despite opening higher, the Nifty struggled to hold gains, closing lower as FMCG stocks dragged while the realty sector shone.

TOP STORIES

Airtel eyes Tata Play stake for a bigger slice of DTH market

What happened?

Airtel is eyeing a bigger chunk of India's direct-to-home (DTH) market by reportedly exploring the acquisition of Tata’s 70% stake in Tata Play. Bharti Airtel, which already operates its DTH business through Airtel Digital TV, aims to strengthen its hold in the market. 

• Currently, Airtel holds a 28.45% market share, with Tata Play slightly ahead at 32.53%. 
  
  

• Airtel has added 388,000 DTH customers recently, its best performance in 12 quarters, driven by increasing adoption of bundled offerings
  
  

The potential acquisition comes at a time when the media and entertainment market is witnessing big moves, like the $8.5 billion joint venture between Reliance and Disney. 

The bigger picture

The DTH game is changing fast. As more viewers are flocking to OTT platforms like Netflix, JioCinema and Disney+ Hotstar, traditional satellite TV providers have been losing customers – around 7.6 million of them over the past three years! For Airtel, this acquisition could mean not only increasing its market share but also bundling more of its digital services into homes, which is exactly what Reliance has been doing with Jio. With Tata looking to step out, Airtel might also end up with Disney's 30% stake in Tata Play, giving it even more control. 

Zoom out

With Airtel Digital TV narrowing its net loss to ₹76 crore in FY24 from ₹349 crore in FY23 and increasing revenue to ₹3,045 crore, this acquisition could be the key to further improving financial performance. However, Airtel will need to tread carefully, balancing between offering smart digital services and staying relevant in a market rapidly shifting toward OTT platforms. 

PAISON KA KHEL

Suzlon shares jump 9% on Tata Power wind project buzz

Suzlon Energy shares jumped over 9% to ₹80.47 after reports surfaced that they’re competing to supply wind turbines for Tata Power's huge 3-gigawatt project. Suzlon is up against other big names, but this deal could give it a major boost. However, earlier this month, Suzlon got warning letters from stock exchanges over corporate governance concerns raised by a former Independent Director. 

• Despite the hiccup, Suzlon’s shares have soared 109% this year and an incredible 950%   in the last two years. 

Fresh PLI scheme set to elevate India’s drone sector

The Indian government is buzzing with plans for a new Production-Linked Incentive (PLI) scheme for drones, following the end of its first scheme, which had a budget of ₹120 crore over three years. Civil Aviation Secretary Vumlunmang Vualnam announced that the new scheme will focus on better implementation and less paperwork. With an ambitious outlay of ₹1,000 crore, this initiative will support startups in making drones more homegrown. 

TOP STORIES

10.1 Million Foreign Visitors on the Horizon

What Happened

India is poised for a tourist resurgence, with foreign tourist arrivals (FTAs) expected to reach 10.1 million in 2024, according to a recent report from Booking.com and Accenture. This is an increase from 9.2 million in 2022, though still short of the 10.9 million seen in 2019. The report reveals India’s tourist spending is rebounding, hitting approximately 94% of 2019’s figures.

• In fact, the average spend by Indian travellers increased by 13% in 2023, showing a robust appetite.

Why It Matters

India's swift recovery in tourist spending sets it apart from regional peers like China and Thailand, which are still struggling. This rebound presents a great opportunity for the local economy, particularly in the hospitality and service sectors. 

Key source markets driving this growth include the US, UK, Germany and UAE, with a shift away from traditional frontrunners like China, Canada and Bangladesh. Additionally, there is a rising fascination with emerging destinations such as Hampi and Leh, which are becoming increasingly popular 

• This surge in foreign arrivals is crucial for the Indian economy, particularly as 44% of inbound travellers express a desire to return.

Final words

As India’s tourism sector rebounds, it is emerging not just as a travel destination but as a growing brand on the global stage. The country’s impressive ranking of 39th on the World Economic Forum’s 2024 Travel & Tourism Development Index, up from 54th in 2021, reflects its increasing appeal. 

But there is bad news too: Nearly 51% of travellers reported difficulties finding bundled packages while 43% of respondents mentioned information overload as a barrier to planning.

GLOBAL NAZARA

PepsiCo’s India growth pops, even as AMESA fizzles

PepsiCo reported a bubbly double-digit organic revenue growth in India for Q3 2024, proving that when it comes to snacks and drinks, Indians are all in. While the Africa, Middle East and South Asia (AMESA) division saw a 4% dip in net revenue to $1.55 billion, India managed to offset the region’s fizzled performance. 

The beverage and convenience foods units in India posted impressive high-single-digit growth. Globally, however, PepsiCo faced flat net revenue at $23.31 billion, with geopolitical tensions and recalls dampening spirits. 

BYD shifts focus to imports, shelves India plant plans

Chinese EV giant BYD has scrapped its $1-billion plan for a car factory in India after facing government roadblocks. Instead, BYD is now going with an "import-only" strategy, aiming to launch its eMAX 7 in India with prices ranging from ₹26.9 lakh to ₹29.9 lakh. Despite hefty customs duties, BYD targets a 40% sales boost, hoping to sell 3,500 units this year.

TOP STORIES

India to Source All Mobile Phones Locally by Year-End

What Happened?

India is getting ready to say a final goodbye to mobile phone imports by the end of this fiscal year and it’s a huge deal. Apple just started making its high-end iPhone Pro and Pro Max models on Indian soil and Google is following suit with its Pixel smartphones. Already, brands like Samsung are making all their devices in India, so the writing’s on the wall – by next year, India will be producing every mobile phone it needs, right at home.

• Just last year, imports made up 3% of the smartphone market by value, but that figure is now shrinking fast.

The numbers game

This is a big win for India’s “Made in India” campaign, especially with the government’s production-linked incentive (PLI) scheme in full swing. Let’s talk numbers – the smartphone market hit a whopping $37 billion in FY24, but imports were worth only $930 million, down from $1.4 billion the previous year. 

Apple’s decision to shift production to India doesn’t just help local manufacturing but also your wallet! iPhone Pro models are now about ₹15,000 cheaper. 

Zoom out

India is charging ahead toward self-sufficiency in mobile phone manufacturing and it’s doing it with some of the biggest names in tech. With import numbers nearing zero and a massive $500 billion electronics production target, India is ready to not only meet its own needs but also become a global hub for electronics manufacturing. 

MIRCH MASALA

🏔️ Forget Everest! This mountain in Ecuador is actually Earth's highest point
🐕️ This hero skipped a meeting with King Charles in love of his dog
⚡️ Is that Thor? Shocking video capture Cancun lightning strikes during Hurricane Milton
🐶 Bulldog’s perfect karaoke timing on ‘Believer’ has the internet in stitches
🤔 Why does Gordon Ramsay ‘Girl, you’ll ruin your vocal cords!’" to Dua Lipa?