Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: Indian equity indices closed on a negative note on October 16, with the Nifty slipping below 25,000. Sensex dropped 319 points, while Nifty fell 86 points. Oil & gas gained, but auto, IT, pharma, and media sectors declined.

TOP STORIES

India Powers Past 200 GW in Renewable Energy Capacity

What happened

India has just hit a major green milestone! The country’s renewable energy capacity has crossed 200 GW (gigawatts) as of October 2024, standing at an impressive 201.45 GW. Renewable energy now accounts for 46.3% of India’s total electricity generation capacity, which is 452.69 GW.

Solar power leads the charge with 90.76 GW, followed by wind (47.36 GW), large hydro (46.92 GW), and bioenergy (11.32 GW). Add nuclear to the mix, and almost half of India’s power comes from non-fossil fuel sources.

Why it matters

This achievement isn’t just a shiny number—it’s a big step in reducing India’s reliance on fossil fuels. States like Rajasthan (29.98 GW), Gujarat (29.52 GW), and Tamil Nadu (23.7 GW) are showing how to do green energy right. More renewables mean less pollution, lower carbon emissions, and less money spent on imported oil and coal.

This milestone also supports India’s energy security and boosts its credentials as a global clean energy player. Plus, it aligns with the government’s lofty goal of hitting 500 GW of non-fossil power by 2030. 

Time to  celebrate

India’s renewable energy milestone is a cause for celebration—and a signal of bigger things to come. With ongoing projects like the National Green Hydrogen Mission and incentives for solar and wind energy, India is turbocharging its green power efforts.

The future looks even brighter (and sunnier, windier, and cleaner) as India powers toward its 2030 goal. It’s not just about keeping the lights on; it’s about keeping the planet cool and energy secure. India’s renewable journey is charging ahead—at full power!

PAISON KA KHEL

Adani’s $1.5 billion bond sale hits a pause—for now

Adani Group has hit the brakes on its $1.5 billion green bond sale, initially offered at 7%. The funds were aimed at repaying foreign-currency loans, but market jitters and upcoming state elections have caused the delay. The deal is likely to reappear after the November elections when the company hopes to calm investor nerves, still recovering from a 2023 stock drop of over $150 billion.

Adani’s clean energy units were set to issue the bonds, but investors will have to wait a little longer to go green with Adani.

Godrej bags 6.5 acres in Kharghar for ₹3,500 crore mega project

Godrej Properties has snagged a prime 6.5-acre plot in Kharghar, Mumbai Metropolitan Region (MMR), through a CIDCO auction. With a development potential of 2 million square feet, the project is expected to rake in a whopping ₹3,500 crore in revenue.

The location, blessed with excellent connectivity to key hubs like Kharghar and CBD Belapur railway stations, will feature premium residential apartments.. Looks like Godrej is stacking its real estate deck higher than ever!

TOP STORIES

Blinkit Launches 10-minute Returns for Fashion Items

What happened

In a bold move, Blinkit, known for its quick grocery deliveries, has ventured into the fashion world by introducing a 10-minute return and exchange service for clothing and footwear. This feature, available in cities like Delhi-NCR, Mumbai, Bangalore, Hyderabad, and Pune, addresses the common frustration of online shoppers — size and fit issues. 

Blinkit’s co-founder, Albinder Dhindsa, announced the launch on social media, emphasising how the service eliminates “size anxiety” by allowing customers to get their problems solved in just 10 minutes.

Why it matters

The fashion industry has long struggled with high return rates, with studies indicating that 25-30% of purchases are returned, largely due to sizing issues. Blinkit’s quick commerce approach, which was previously focused on groceries, now crosses into the realm of fashion, bringing the battle to giants like Myntra and Ajio. 

Offering instant returns gives Blinkit a significant competitive advantage, catering to the growing demand for convenience. By expanding their SKU range to include top brands like Adidas, FabIndia, and US Polo, Blinkit is blurring the lines between fast-commerce and traditional e-commerce, making a mark in the fast-moving online fashion space.

A game-changing move

Blinkit’s 10-minute return service could be a game-changer in the fashion e-commerce industry, where speed and convenience are king. With customers increasingly expecting instant solutions, this move sets a new standard. If successful, it’s only a matter of time before other platforms rush to keep up — or get left behind. The clock is ticking for Myntra and Ajio!

GLOBAL NAZARA

Stellantis recalls 54,000 SUVs for brake woes

Stellantis is hitting the brakes on 54,000 hybrid crossover SUVs globally due to a pesky problem: the brake pedal collapse. This recall affects the 2024-2025 Alfa Romeo Tonale plug-in hybrids and 2024 Dodge Hornet plug-in SUVs, with 21,069 vehicles in the U.S. alone. The company noted 15 instances where brake pedals collapsed, but thankfully no injuries were reported. 

Boeing's $15 billion plan to stay afloat amid turbulence

Boeing is gearing up to raise $15 billion through a combination of stock and hybrid bonds to tackle financial turbulence caused by strikes and other crises. The planemaker has been burning cash all year and facing regulatory scrutiny, production hiccups, and customer confidence drop since a 737 MAX incident in January.

Adding to the mix, Boeing may also explore a structured finance deal to raise another $5 billion. With its credit rating hanging by a thread, Boeing hopes this financial injection will keep the engines running—but it might need even more fuel!

TOP STORIES

Gen Z set to spend $250 billion by 2025

Driving the news

Gen Z is about to take the spending world by storm! A new report from Snap Inc. and Boston Consulting Group (BCG) reveals that by 2025, Gen Z's direct spending will hit $250 billion.

Currently, this generation controls $860 billion in total spending power, with $200 billion coming from what they earn and spend themselves. The rest, a cool $660 billion, comes from purchases they influence. By 2035, Gen Z’s spending will soar to $2 trillion.

Why it matters

Why should businesses care? Well, Gen Z isn't just posting selfies and TikToks – they're driving 43% of India’s consumer spending, and their preferences are shaking up everything from fashion to food. In fact, they influence 50% of spending on footwear and 48% on dining and entertainment. As BCG's Nimisha Jain puts it, ignoring Gen Z is like skipping dessert – you're missing out on something sweet.

What the future holds

With every second rupee of consumer spending expected to be driven by Gen Z by 2035, this generation is more than a passing trend – they’re the future. If businesses want to survive (and thrive), they'll need to tap into the unique values of this cohort, from their "shopcialising" habits to their love for immersive shopping experiences.

MIRCH MASALA

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