Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: After a sharp correction last week, markets rebounded, fueled by short covering ahead of the monthly expiry. Despite the cautious sentiment, Nifty closed higher, showing strength above the previous low and hinting at potential gains if it stays above 24,000.

TOP STORIES

Swiss Companies Turn Their Gaze to India

What Happened

Swiss businesses are leaning towards India as a new investment frontier, driven by rapid growth and an anticipated $100 billion trade deal set to unlock market potential. The Trade and Economic Partnership Agreement (TEPA), signed between India and the European Free Trade Association (EFTA)—led by Switzerland—will open doors for Swiss brands from chocolates to machinery by slashing tariffs on 94.7% of exports to zero from the current 22%. 

Why It Matters

India’s economy is buzzing, projected to grow 7% this year and 6.5% in 2025—outpacing China’s expected 4.8% growth. Amid a global push to diversify beyond China due to trade tensions, companies are looking to India not just for market access but for a cost-efficient supply chain. 

Companies like ABB and Kuehne+Nagel have already ramped up their Indian footprint, with ABB marking India as its fifth-largest market and aiming to hit the top three soon. Also, the $100 billion investment commitment by EFTA is forecasted to create one million jobs in India over the next 15 years.

Zoom out

TEPA is on track to transform Swiss-Indian trade when it gets the final nod, likely by late 2025. With 350 Swiss firms already in India, TEPA’s tariff cuts and reduced red tape make it easier for Swiss companies to expand, positioning them ahead of EU and UK competitors.

ABB, for example, has doubled its Indian workforce to 10,000 in four years, launching eight new projects, and more Swiss companies are expected to follow suit.

PAISON KA KHEL

Ford’s CEO chooses Xiaomi over his own brand

Ford's CEO, Jim Farley, has chosen a surprising ride: not a Ford, but Xiaomi’s flashy SU7 electric vehicle. On the Everything Electric Show podcast, Farley confessed he’s been cruising around in the $30,000 Chinese EV for six months, thanks to its premium perks like air suspension and Xiaomi’s Level 2 autopilot. 

This EV is in such hot demand that Xiaomi sold out the 2024 model in one day with 100,000 preorders! While industry leaders often test rivals’ wheels, Farley’s Xiaomi crush hints at the wake-up call U.S. automakers are getting from emerging Chinese brands. 

Oil prices likely to dip as Israel goes easy on Iran’s oil sites

Oil prices are likely to drop as Israel’s recent airstrikes in Iran avoided oil and nuclear facilities, leaving energy supplies unaffected. Analysts predict Brent crude prices could settle around $74-$75 per barrel, with WTI possibly returning to $70. 

Israel targeted missile factories, not oil infrastructure, calming market fears of a major disruption. With no major supply issues, Monday’s trading could see oil prices ease, offering a bit of relief to energy markets.

*WTI stands for West Texas Intermediate, which is a grade of crude oil used as a benchmark in oil pricing, primarily in North America.

TOP STORIES

The Merger That Will Change the Game!

What happened

InsuranceDekho, the fast-rising insurance aggregator, is gearing up for a significant merger with its smaller rival, RenewBuy, in a deal that could reshape India’s insurance marketplace. This cash-and-stock transaction will create the second-largest insurance aggregator in India, with a combined value exceeding ₹8,000 crore. The valuation breaks down to around ₹5,000 crore for InsuranceDekho and approximately ₹3,000 crore for RenewBuy. 

Why it matters

India's life insurance market is the fifth largest globally and is projected to reach a remarkable $222 billion by 2026, growing at an impressive annual rate of 32-34%.  As insurance tech becomes increasingly crucial, this merger will position the newly formed entity as a strong competitor to PolicyBazaar, which went public in 2021.

InsuranceDekho has carved a niche in the market by generating 82% of its premium from tier-II cities. With a customer base exceeding 6 million, the company has established partnerships with 46 insurance providers, offering a diverse range of products. 

Driving the news

Following a successful funding round of ₹60 million in Series B last year, InsuranceDekho is ready to amplify its reach and diversify its offerings. If this partnership flourishes, getting insured might become as simple as ordering your favourite pizza online!

With the company already showcasing impressive growth—doubling its revenues to ₹100.3 crore while slashing losses to ₹51.6 crore—this collaboration has the potential to take the company to new heights.

GLOBAL NAZARA

Airtel’s earnings take off as customers spend more

Bharti Airtel dialled up big numbers this quarter, reporting a whopping 168% jump in net profit, hitting ₹3,593 crores for Q2—way up from last year’s ₹1,341 crores. But the fun doesn't stop there: the average revenue per user (ARPU) rose to ₹233, a solid 15% increase from last year’s ₹203. With numbers like these, Airtel’s leaving competitors scrambling to catch up! 

Honda to replace faulty fuel pumps in over 90,000 cars in India

Honda Cars India is stepping up to replace faulty fuel pumps in 90,468 older units of its popular models, including the Amaze, City, and Jazz, made between September 2017 and June 2018. The campaign, which kicks off on November 5, 2024, will also cover 2,204 previously serviced vehicles. 

Thankfully, replacements are free, so owners can check their Vehicle Identification Number (VIN) online to see if they’re affected.

TOP STORIES

Warner Music's Next Billion-User Playground

What Happened?

Warner Music Group is setting its sights on India, eyeing it as a powerhouse market alongside China. 

• With an annual revenue of over $6 billion and a market value of around $16 billion, the music giant is increasing acquisitions in India.

Recently, Warner's CEO Robert Kyncl shared his ambitious vision, noting that India could soon become a billion-user market, fueled by its rapid internet growth and soaring smartphone adoption.

Why It Matters

India's music market ranks 14th globally, despite the country sitting comfortably in the top five for GDP. Kyncl sees this as a clear sign of growth potential, predicting that as India's GDP continues to climb, so will music subscriptions and ad revenues. 

But it's not just about numbers. India’s linguistic and cultural diversity offers Warner a treasure trove of regional music that could resonate worldwide. For Warner, these factors could be game-changers, helping it stand out in India’s music industry, where giants like T-Series and Sony Music currently dominate.

They are singing already!

Warner Music Group’s strategic investments—including a 26% stake in Global Music Junction, a majority share in Chennai-based Divo, and the acquisition of artist management firm E-Positive—highlight the company’s commitment to the Indian market. These moves are part of a broader plan to build a strong portfolio and elevate regional music onto the global stage. 

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