Export Growth & Trade
India's export sector showed positive momentum in November. Engineering exports rose by 23.7%, and overall exports increased by 19.37%. Furthermore, exports to the U.S.
saw a significant rise of 22.6%. The trade deficit remained low during this time. Meanwhile, India and the U.S. were close to finalizing a trade deal, as stated by the Commerce Secretary. Trade talks with Canada were also resumed. In addition, discussions were underway regarding a trade pact (CEPA) between India and Oman, and talks with the EU were aiming to narrow differences. Trade negotiations with New Zealand were also nearing completion. Finally, India proposed a trade deal with Mexico to address tariffs.
Investment & Finance
Several investment and financial activities took place in November. KSH International planned an IPO to raise Rs 213 crore from anchor investors, while 360 One raised a Rs 2,300 crore realty fund. Furthermore, Hapur saw Rs 1,300 crore in proposals during an investment summit. Candi Solar secured $58.5 million in funding led by IFC. Renny Strips filed for an IPO to raise Rs 300 crore. Moreover, MTNL sold a BKC property to Nabard for Rs 350.72 crore. The stock markets ended lower, affected by foreign fund outflows. In the AMC sector, ICICI Prudential AMC’s IPO was subscribed 2.11 times. Gold imports slumped by 60% to $4 billion during November. And, a surge in gold and silver prices was noted, attributed to geopolitical impacts, according to the FinMin.
Infrastructure & Expansion
Infrastructure and expansion initiatives also marked the period. IHH Healthcare planned to expand its India capacity to 7,000 beds. The NHAI enhanced visibility in foggy conditions. IHCL opened Avantika in Varanasi. Star Air launched flights from Navi Mumbai Airport. Furthermore, UP was developing an AI City plan, with Adityanath and Tata discussing investments. The UP RERA approved 16 real estate projects. Delhivery launched intra-city shipping services in Mumbai and Hyderabad.
Policy & Regulatory Updates
Several policy and regulatory developments occurred. The NCDEX received SEBI approval for a mutual fund platform. The unified pension scheme saw 1.22 lakh government employees opt in. The government was incentivizing industry collaboration to address skill gaps. The GST boosted retail credit demand, according to TransUnion CIBIL. The AIRBEA sought RBI action regarding a small note shortage. The NCLAT clarified user consent regarding WhatsApp data sharing. India's Commerce Secretary stated that there was no dumping of rice exports to the US. In addition, the Power Ministry noted a fall in battery storage costs to Rs 2.1/unit.
Other Key Developments
Additional notable events included several appointments and corporate actions. Ravi Ranjan was appointed as SBI MD. Suresh Goyal was appointed as NCAER Director General. Hyundai India appointed Tarun Garg as MD & CEO. BHEL paid a dividend to the government for 2024-25. Raghu Vamsi launched a UAV and defence facility. Furthermore, SBI Yono 2.0 was launched, with a plan to hire 10,000 staff. Pajson Agro's IPO was subscribed 6.59 times on Day 3. Texmaco Rail secured a Rs 132 crore wagon order. Corona Remedies' shares jumped 35% upon market debut. Moreover, there were developments in the technology and telecom sectors. Aurobay & HCL Tech expanded their digital partnership, while Nasscom and Applied Materials were setting up STEM labs in Karnataka. Eutelsat and Airtel collaborated for Sri Lanka relief via satellite. IndiGo faced flight disruptions, prompting a DGCA probe.
