Uptick in Markets After Weeks of Downward Spiral

Sensex, Nifty gain: The Nifty 50 rose 188.30 points, or 0.79%, trading at 23,931.20 at 12:15 p.m. (IST); while the Sensex gained 623.55 points, or 0.79%, and was at 79,130.95.

Growing military aviation challenges as China develops sixth-gen fighters

Read the full story:

India Has no Response to Chinese Sixth-Generation Stealth Fighter Challenge

By Sandeep Dikshit

Delhi BriefingPublisher

Looking ahead to 2025

Central bank and industry leaders set priorities for 2025 growth: Reserve Bank of India (RBI) Governor Sanjay Malhotra, in his New Year message, urged employees to prioritise customer-focused services as the central bank tackles currency depreciation, slowing economic growth, and inflation pressures. Chairman N Chandrasekaran of Tata Sons and Chairman Anand Mahindra of Mahindra Group, in their new year message, outlined strategies to navigate global uncertainties, with plans including 500,000 manufacturing jobs and technological advancements like artificial intelligence applications.

Defence Ministry to work on reforms in 2025: During a New Year’s Eve meeting, Defence Minister Rajnath Singh and the secretaries of the Ministry of Defence unanimously decided to observe 2025 as the ‘Year of Reforms’ focusing on promoting indigenous production and fostering innovation.

Crop insurance programme gets one-year extension 

Centre extends subsidy on di-ammonium phosphate: On Wednesday, the Centre extended the di-ammonium phosphate (DAP) special subsidy of ₹3,500 per tonne, which was set to expire on December 31, for a further year starting on January 1, 2025. The government also approved the ₹825-crore Fund for Innovation and Technology (FIAT) and extended the crop insurance plan by one year, increasing its five-year budget to ₹69,515 crore.

Air India brings WiFi to domestic skies

Air India rolls out WiFi on domestic flights: On Wednesday, Air India announced that it has rolled out WiFi internet connectivity services on their domestic flights and international flights. With this, Air India has become the first airline to provide WiFi connectivity on domestic routes.

Vodafone Idea to disrupt 5G market with aggressive pricing: Vodafone Idea (Vi) plans to launch 5G mobile broadband in March with tariffs up to 15% cheaper than rivals Reliance Jio and Bharti Airtel, aiming to regain subscribers, reports The Economic Times.

Limitations in functional desktops and internet in Indian schools: The Unified District Information System for Education Plus (UDISE+) 2023-24 report highlights the mixed picture of progress and current issues in India's school infrastructure. Advanced facilities like working desktop computers, internet access, and ramps with handrails are still few in schools, even though more than 90% of them have basic amenities like power and gender-specific restrooms.

Push for Pawar family reunion

Calls grow for Pawar family reconciliation: Maharashtra Deputy Chief Minister Ajit Pawar's mother, Asha Pawar, and senior Nationalist Congress Party leaders have urged a reunion between Ajit and Sharad Pawar after their 2023 split. 

Businesses eye QIPs to finance major projects

Indian businesses turn to QIPs: The Mint reported that Indian corporations are anticipated to raise more money this year through qualified institutional placements (QIPs) of shares to finance capital-intensive projects that could be crucial in strengthening the economy. According to Prime Database data, 27 companies secured board approvals last month to raise funds from institutions.

Drop in bank’s non-food credit: According to data released by the Reserve Bank of India (RBI), non-food credit year-on-year growth in scheduled commercial banks dropped to 11.8% in November 2024, compared to 16.5%. The industry also saw a loan growth of 8.1% in November 2024 compared to the figure of 5.5%, the year before. According to RBI data, advances to medium-sized businesses increased by 20% in November 2024 compared to 12% in the same month the previous year.

December GST revenue sees 7.3% rise: Goods and Services Tax (GST) revenue grew 7.3% to ₹1.76 lakh crore ($21.3 billion) in December, with domestic collections up 8.4% and imports rising 3.9%. Net collections increased by 6.7% after a 45% jump in refunds.

2024 sets new high as warmest year 

IMD confirms 2024 as warmest year since 1901: 2024 was the warmest year on record with an annual mean temperature of 25.75°C, exceeding the 2016 record by 0.11°C. The India Meteorological Department (IMD) attributed the rise to accelerating global warming.

FDI flow news - brought to you by

FPIs favour IPOs over secondary market: According to The Economic Times, foreign portfolio investors (FPIs) invested $14.5 billion into initial public offerings (IPOs) and qualified institutional placements (QIPs) in 2024, countering $14.37 billion in secondary market exits. 90 IPOs raised $19.1 billion during the year, signalling strong primary market activity.

Reliance Jio plans record-breaking IPO

Reliance Jio's IPO to break records: Reliance Industries' telecom arm, Reliance Jio Infocomm, is planning a ₹35,000-40,000 crore ($4.2-4.8 billion) initial public offering (IPO) in late 2025, potentially the largest in the country, reports The Hindu BusinessLine.

Indian IT companies to gain from H-1B rules: According to Macquarie Research, Indian IT services companies stand to gain from recent conversations about changes to the H-1B visa rules, even though they only account for a small portion of all visa sponsorships. 

Car sales slowdown in 2024: The Times of India reported, that the growth in car sales in 2024 slowed to about 5%, the slowest expansion rate in four years, underscoring the difficulties businesses face in urban markets. Early projections indicate that the industry sold approximately 43 lakh units at the end of 2024, compared to 41.1 lakh units in 2023. Meanwhile, the Business Standard reports, there has been a 9% increase in overall vehicle retail sales in 2024, reaching a record of 26.1 million units, surpassing the pre-covid peaks.

New projects decline 22% in December: The Business Standard reports, that private players have dialled down spending for new factories and long-term assets. The government has also slowed investments in infrastructure projects, such as new roads.

ModiWatch: Delhi University has invited Prime Minister Narendra Modi to lay foundation stones for its East and West campuses and a college named after Veer Savarkar. Confirmation of the visit is awaited from the Prime Minister's Office.

Singer Diljit Dosanjh met Modi on Wednesday and posted pictures and commented on X: "A fantastic start to 2025."

Delhi Today: Hazy; air quality will be very ‘unhealthy.’

Dense fog disrupts flights at Delhi airport: Dense fog reduced visibility to near zero at Indira Gandhi International (IGI) Airport, delaying 80 flights and cancelling five, with operations for low-visibility landings underway.