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• India overtakes Australia, Japan and Singapore in data centre capacity, gets $40 billion funds

  India has emerged as the data center leader in the Asia-Pacific region (excluding China), surpassing countries like Singapore, Australia, South Korea, Japan, and Hong Kong in installed capacity. With 950 MW of installed capacity and an expected addition of another 850 MW by 2026, India is set to solidify its position in the data center business. The country's favorable market conditions are attracting multinational corporations seeking to expand their digital services. Investments in India's data center industry have exceeded $40 billion between 2018 and 2023, with significant commitments from global and domestic investors.

  

• China may dump EVs, batteries into India with higher US tariffs: GTRI

  GTRI warns of China dumping in India due to US tariffs. India can gain from higher duties on medical items. Trade with China surpasses that with the US. GTRI advises vigilance by Indian trade authorities, ramping up production for US market exports.

  

• Indian economy projected to expand at 6.6% in FY25, says Moody's

  ​​The agency highlighted that strong credit demand, fueled by robust economic growth, will bolster the profitability of the Non-Banking Financial Company (NBFC) sector.

  

• India's weight in key MSCI equity index hits another high, to boost inflows

  India's weight in MSCI's Global Standard index hits a record high, narrowing the gap with China. The rise boosts prospects for more inflows into equity markets. Consistent flows from domestic institutional investors could see India surpass 20% weightage by 2024. May review to bring about $2 billion inflows; Analyst Abhilash Pagaria comments on the potential growth.

  

• Wholesale inflation in April quickens to 13-month high of 1.26% on spikes in power, food prices

  India's wholesale price index-based inflation accelerated to 1.26 per cent in April on an annual basis as against 0.53 per cent in March, data from the Commerce Ministry on Tuesday showed.

  

• Warburg Pincus brings home Shriram Housing Finance co with Rs 4,630 cr buyout

  Largest Housing Finance M&A, the large buyout for the PE fund in India. Current management to stay at the helm. New brand name to be announced shortly.

  

• It's crunch time: Blackstone teams up with ADIA, GIC for Haldiram Snacks bid

  A non-binding offer has been submitted to buy up to 76% of co at $8.5 bn valuation; 87-year old Haldiram with roots in Bikaner, Rajasthan is India’s largest snack and convenience foods company. Delhi and Nagpur factions of the Agarwal family are merging their snacks and packaged foods business, demerging the restaurant operations.

  

• AI adoption in key Indian sectors touches 48% in FY24

  A Teamlease Digital study revealed high AI adoption in pharma and healthcare (52%), followed by FMCG and retail (43%). Manufacturing (28%) lagged behind, while infrastructure & transport (20-22%) and media & entertainment (10-12%) saw the least adoption.

  

• India to ink 10-year Chabahar Port pact with Tehran today

  This is the first time India will take over management of a port overseas. The port, which is seen as India's key connectivity link to Afghanistan, Central Asia and the larger Eurasian space, will help counterbalance Pakistan's Gwadar port as well as China's Belt and Road Initiative. There are plans to link Chabahar with the International North South Transport Corridor (INSTC) that connects India with Russia via Iran. The port will enable India to bypass Pakistan to access Afghanistan, and ultimately Central Asia.

  

• LIC's April premium hits decade high of Rs 12,384 cr

  LIC's April premium collection of Rs 12,384 crore, highest since 2014, marked 113.14% growth from the previous year. Success attributed to marketing strategies, wider reach, policy uptake, reliability, and customer services.

  

• East has potential to drive India's growth: Finance minister Nirmala Sitharaman

  Finance Minister Nirmala Sitharaman emphasized the potential of eastern India as a growth engine, urging Jharkhand to tackle corruption for industrial development. She criticized the state's governance, highlighting lawlessness and migration. Sitharaman assured equitable treatment, citing increased budgetary allocations for Jharkhand's rail projects.