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FPIs down 99% in 2024: Foreign portfolio investor (FPI) activity decreased significantly in 2024, with foreign investors contributing just over ₹1,600 crore on a net basis to the domestic equities market. This indicates a 99% decline from the previous year's strong inflows of ₹1.71 lakh crore. A Times of India columnist argued that FPI's exit from India could be a positive push for the Indian stock market to become more self-reliant which is experiencing increased investments from mutual funds and domestic investors.

Private equity funds look to acquire Access Healthcare: According to the Economic Times, approximately six international private equity funds, such as Blackstone, Carlyle, TPG, New Mountain Capital, and Hillhouse Partners, have expressed interest in purchasing a majority share in healthcare BPO headquartered in Chennai and Texas, Access Healthcare.

IPOs surge as companies raise over $3.6 billion in 2024: India Inc.'s fundraising in 2024 has surpassed $3.6 billion through initial public offerings (IPOs), qualified institutional placements (QIPs), and rights issues, driven by a strong equity market and investor confidence with the trend expected to continue into 2025.

Government finalising site for Manmohan Singh's memorial

Govt considers sites near Kisan Ghat and Rashtriya Smriti Sthal for Manmohan Singh’s memorial: According to the Times of India, the government is considering locations, including plots near Kisan Ghat and Rashtriya Smriti Sthal, for former Prime Minister Manmohan Singh's memorial, with a decision expected soon.

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Trump supports H-1B program

Trump backs Musk on H-1B visas, defying MAGA critics: US President-elect Donald Trump sided with Elon Musk on H-1B visas for Indian techies, despite backlash from MAGA hardliners, who accused the big-tech companies of exploiting the programme and called for restrictions on foreign workers. Trump, who has previously used this facility for his employees, reaffirmed his support for the system despite past promises to limit its use. In an interview with The Economic Times, founder of Perplexity AI, Aravind Srinivas, dismissed claims that Indian immigrants and H-1B visas are taking away American jobs, arguing that the real issue is illegal immigration.

Jaishankar to discuss trade and investment during Qatar visit: External Affairs Minister S Jaishankar will visit Qatar from December 30 to January 1 to meet with Qatari officials. He will be reviewing bilateral ties in areas such as trade, investment, energy, security, and cultural relations.

India signs MoUs for critical mineral resource partnerships: India is securing critical mineral resources by finalising Memoranda of Understanding (MoUs) with 13 mineral-rich countries, including those in South America, Africa, and Australia, while intensifying cooperation with South Korea, Japan, and Israel on geology and mineral processing technology. The Ministry of Mines is also exploring partnerships with nations like Namibia, South Africa, and European countries for offshore mineral expertise.

Family offices back startups in chip tech and green energy

Family offices ramp up investments in startups across emerging sectors: According to The Times of India, family offices, including those of Wipro's Azim Premji and Manipal Education and Medical Group (MEMG), are increasingly investing in sectors like chip technology, robotics, and green energy. Over $1 billion has been allocated to more than 60 funding deals in 2023 and 2024.

Navi Mumbai airport to begin operations in 2025

Mumbai to get new airport by April 2025: Arun Bansal, CEO of Adani Airport Holdings Ltd, said the Navi Mumbai airport is expected to be inaugurated on April 17. Access to the public will begin four weeks later, in the second half of May, when airlines commence domestic flights and cargo operations. By the end of July, international flights will start.

Farmer unrest deepens

Punjab government under pressure as farmers intensify protest: The Punjab government is facing mounting pressure after the Supreme Court reprimanded it for failing to shift fasting farmer leader Jagjit Singh Dallewal to a hospital, as a month-long protest by the Kisan Mazdoor Morcha (KMM) and Samyukta Kisan Morcha (SKM) (Non-Political) continues. The groups have called for a state-wide shutdown on Monday to gain further support.

Budget 2025-26 set to target growth through regulatory changes

Government’s plan for Budget 2025-26: The Mint reported that the government is identifying regulations across sectors that can be relaxed in the upcoming budget to help revive growth in the slowing Indian economy. Business Standard cited economists who wanted the Union Budget 2025-26 to focus on reforms that will stimulate consumption and manufacturing while providing employment.

Government sets liberal import framework for laptops, tablets in 2025: The Union government has granted full import approvals for laptops and tablets for 2025, with a mid-year review to prevent shortages. It aims for a 5% annual reduction in imports, to be replaced by local manufacturing by the second half of the year.

The government provides relief to telecom companies: According to reports, the government has exempted the requirement worth roughly ₹33,000 crore cumulative bank guarantees that private telecom companies provide against spectrum that was up for auction before the 2021 reform package. Telecom companies will only need to pay for spectrum on the designated dates, as there will be no need for upfront verification of funding arrangements.

Labour reforms to be introduced in 2025: According to the Labour Ministry, the government's top priorities in 2025 would be to swiftly implement labour laws and provide social security to informal workers, particularly gig and platform workers. By March 31, 2025, it is anticipated that all 36 states and UTs will have finished harmonising and pre-publicizing draft regulations under the four labour laws.

Jio collaborates with Nvidia to develop AI models

Jio ventures into AI: Reliance Industries is preparing to upend the AI space by lowering data prices, just as it did in the telecom industry. Jio Platforms is collaborating with tech behemoths like Nvidia to co-develop AI language models to provide revolutionary solutions like personalised and reasonably priced AI applications.

ISRO’s space mission to launch today: On Monday, the two tiny satellites of the India Space Research Organization's (ISRO) Space Docking Experiment (SpaDeX) will be launched atop a Polar Satellite Launch Vehicle at 10 p.m. (IST) from Satish Dhawan Space Centre in Sriharikota. SpaDeX (Space Docking Experiment) is a mission to establish India's capability in orbital docking, a key technology for future human spaceflight and satellite servicing missions.

Private banks double market share

Private banks' two-fold increase in deposits and advances: According to the Reserve Bank of India's data, private sector banks have doubled their market share in deposits and advances in the last two decades. In the same period, public sector banks have declined by 60% in the two parameters.

ModiWatch: Prime Minister Narendra Modi ended the year 2024 with his Mann Ki Baat radio show, where he used the slogan 'Create in India' in order to achieve the $5 trillion vision of the Indian Economy.

Delhi Today: Hazy sunshine. Air quality will remain 'very unhealthy'.

Minimum temperature higher than average, maximum temperature below average point: The minimum temperature in Delhi on Sunday was 13°C, six degrees more than average, slightly higher than the 12.7°C recorded the day before and two degrees higher than the 11°C recorded on Friday. However, the India Meteorological Department (IMD) has forecast the maximum to remain below normal till December 31, around the 18°C mark.

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