ECONOMY

Moody’s Upgrades India’s Growth Forecast, Sees 6.5% GDP Growth in FY26

Moody’s has raised India’s economic growth forecast, projecting GDP to exceed 6.5% in FY26, up from 6.3% this year. The upgrade is driven by increased government capital expenditure, tax cuts, and interest rate reductions boosting consumption. Moody’s also highlighted a stable outlook for India’s banking sector, despite a moderate deterioration in asset quality, particularly in unsecured retail, microfinance, and small business loans. While profitability remains adequate, asset stress is expected due to modest rate cuts and sector-specific challenges.

India’s Net Direct Tax Collection Rises 13% to Rs 21.26 Trillion in FY25

India's net direct tax collection increased by 13.13% to Rs 21.26 trillion in FY25, driven by higher advance tax receipts, government data revealed. Advance tax collections reached Rs 10.44 trillion, up 14.62% from the previous fiscal. Corporate tax saw a 12.54% growth, while noncorporate taxes surged by 20.47%. Net non-corporate taxes, mainly personal income tax, grew by 17%, totaling Rs 11.01 trillion. Meanwhile, corporate tax rose by 7% to Rs 9.69 trillion. Securities transaction tax (STT) collections soared by 56% to Rs 53,095 crore. Refunds issued amounted to over Rs 4.60 trillion. Gross direct tax collections grew 16.15% to Rs 25.86 trillion.

India's Retail Inflation Drops to 3.61% in February, Lowest in Seven Months

India's retail inflation eased to a seven month low of 3.61% in February, down from 4.31% in January, according to government data. This decline was primarily driven by a decrease in food prices, with food inflation dropping to 3.75% from 5.97% in January. Vegetable inflation saw a sharp contraction, falling to 1.07% from 11.35% in January. Prices of cereals increased slightly by 6.10%, while pulses saw a decline of 0.35%. Rural inflation also cooled to 3.79%, while urban inflation dropped to 3.32%, highlighting a broad-based reduction in price pressures across India.

Apple Accelerates Hiring in India as it Expands Manufacturing and Prepares for AirPods Production

Apple is ramping up its hiring efforts in India to support its growing manufacturing operations, particularly for AirPods production, which is set to begin in April. The company is recruiting for roles in Bengaluru, Chennai, Hyderabad, and Delhi to support its supply chain and support teams, with over 3,000 employees already in India. Apple’s key manufacturing partners, including Foxconn, Tata Electronics, and Hon Hai, are also expanding to meet production demands. The move aligns with Apple’s strategy to increase local production of AirPods for export while further investing in its supply chain capabilities in India. This hiring spree comes as Apple aims to scale up its “Made in India” products, including iPhones, iPads, and MacBooks, by engaging local suppliers such as Motherson Group and HCLTech.

INDIA PARTNERSHIPS

Nestlé Partners with Thakral Innovations to Boost Nespresso's Presence in India

Nestlé has teamed up with Thakral Innovations to distribute Nespresso across India, spanning retail, online, and B2B channels. The collaboration aims to expand Nespresso’s reach in metro cities, catering to a growing base of young coffee lovers. This move is part of Nestlé’s strategy to further grow its beverages sector, which saw significant growth, with Nescafé contributing to retail sales surpassing Rs. 2,000 crore in the past year. Nespresso looks to enhance its presence in India, offering premium coffee experiences to meet the increasing demand for quality coffee among urban consumers.

Airtel and Jio Partner with SpaceX to Expand Starlink’s Satellite Internet in India

Reliance Jio and Bharti Airtel have signed agreements with SpaceX to distribute Starlink’s satellite internet services in India. The partnerships will involve selling Starlink equipment through Jio and Airtel’s extensive retail networks, with Jio also providing installation, activation, and customer service. The focus will be on delivering high-speed internet to remote areas, businesses, schools, and healthcare centers across the country.

While regulatory approval is pending, the collaboration aims to complement, not compete with, existing broadband services like Jio Fiber and Airtel Xstream Fiber by providing internet access in hard-to-reach areas. Both Jio and Airtel have their own satellite ventures—Jio with SES and Airtel with Eutelsat OneWeb. The partnership with SpaceX will enhance satellite broadband offerings and potentially pave the way for future direct-to-mobile services. Starlink’s higher pricing model contrasts with Jio and Airtel’s more affordable broadband plans.

MERGERS AND ACQUISITION

Google to Acquire Cloud Security Startup Wiz for $32 Billion

Google has reached a $32 billion deal to acquire cloud security startup Wiz, marking its largest acquisition to date. The all-cash deal, set to close in 2026, will strengthen Google Cloud’s security capabilities amid growing AI and cybersecurity concerns. Wiz, founded in 2020, specializes in cloud security solutions, including prevention, detection, and response, and has attracted major clients with its products. The acquisition follows a failed $23 billion deal last year, after Wiz initially walked away due to antitrust and investor concerns. Wiz’s rapid growth and innovative security products will complement Google Cloud’s AI expertise, helping to expand its offerings and compete with Microsoft. Despite the acquisition, Wiz’s products will remain available on competing platforms like AWS and Microsoft Azure. The deal underscores Google’s commitment to boosting its cloud and security services as the digital landscape evolves.

Temasek Acquires 9% Stake in Haldiram Snacks for $10 Billion Valuation

Temasek, Singapore’s sovereign wealth fund, has secured a 9% minority stake in Haldiram Snacks for approximately Rs 8,000 crore, valuing the company at around Rs 89,000 crore ($10 billion). This deal marks one of the largest transactions in India’s consumer sector. The partnership follows discussions earlier this year about a potential pre-IPO transaction, with Temasek selected due to its strong track record in the consumer industry. Haldiram, known for its diverse range of snacks and foods, is expected to continue expanding in India and internationally. Temasek's investment supports Haldiram’s efforts to unlock value ahead of a potential public offering. While the company may eventually sell up to 20%, this deal represents a significant step in Haldiram's ongoing growth.

TECHNOLOGY

Tata Communications Launches Vayu to Transform Cloud Fabric for Intelligent Enterprises

Tata Communications has launched Tata Communications Vayu, a next-generation cloud fabric platform that aims to revolutionize cloud networking for enterprises. Vayu will help businesses scale efficiently by offering a robust and secure cloud infrastructure that enhances agility, performance, and security. With Vayu, organizations can optimize their digital transformation processes, enabling them to handle the growing demand for connectivity, data processing, and storage. The platform will play a key role in supporting the evolving needs of enterprises and help them adapt to the increasingly digital, data-driven world.

India Launches AI Compute Portal to Accelerate GPU Access and AI Innovation

India has introduced an AI compute portal designed to enhance GPU access and foster growth in artificial intelligence across the nation. This initiative will provide crucial computing infrastructure to developers, researchers, and startups, helping them harness high-performance GPUs for AI model training and research. By increasing access to advanced resources, the portal aims to accelerate AI-driven innovations, contribute to skill development, and support India's global AI ambitions. It is expected to play a pivotal role in strengthening India's digital ecosystem and driving the next wave of AI advancements in various sectors.

Airtel Payments Bank Hits One Billion Transaction Mark in January 2025

Airtel Payments Bank has achieved a remarkable milestone by processing over one billion transactions in January 2025, marking a significant 47% growth compared to the previous year. This achievement underscores the growing adoption of digital payments and the increasing trust in Airtel Payments Bank's services. The bank's offerings, including its RuPay NCMC enabled cards, have contributed to its success, as they provide seamless, cashless transactions across the country. With this milestone, Airtel Payments Bank continues to play a crucial role in promoting financial inclusion and driving the digital payments ecosystem forward in India.

ESG

Microsoft Purchases 1.5 Million Tonnes of Carbon Credits for Afforestation Project in India

Microsoft has committed to buying 1.5 million tonnes of carbon credits from Climate Impact Partners to support the Panna afforestation project in India. The project will plant over 11.5 million native trees, including mango, guava, teak, and neem, across 20,000 hectares, an area larger than Washington, D.C. This initiative aims to combat climate change by creating new forests and boosting biodiversity while supporting local farmers. These farmers will benefit from carbon credit sales and income generated from the produce of the planted trees. Additionally, the project includes climate-smart agricultural training and large-scale water conservation efforts. Microsoft’s investment aligns with its goal to become carbonnegative by 2030, reinforcing its commitment to nature-based solutions and fostering local economic growth. This move follows a similar deal by Google earlier this year, emphasizing the growing role of corporate collaboration in carbon removal efforts.

Standard Chartered Issues First Social Bond to Drive Inclusive Growth

Standard Chartered has issued its inaugural EUR1 billion Social Bond to support sustainable development in emerging markets. The bond, with an 8-year term, will primarily fund small and medium-sized enterprises (SMEs) in low-income countries, with a focus on women-owned businesses. Proceeds will also support essential services like healthcare and education, as well as infrastructure and food security projects. The issuance aligns with the bank’s broader strategy to address the $4.2 trillion annual investment gap in emerging markets and facilitate long-term growth.

With 99% of its social assets in Asia, Africa, and the Middle East, Standard Chartered aims to direct capital to regions with the greatest need. The bond will help further the bank's commitment to inclusive growth, with recent initiatives like financing water infrastructure in Angola and empowering women entrepreneurs through its SC Women’s International Network. This marks a significant milestone in the bank’s sustainable finance journey.

Google Launches Carbon Footprint Reports for Advertisers

Google has introduced its new "Carbon Footprint for Google Advertising" reports, designed to help advertisers track and manage the carbon emissions associated with their marketing activities. The move comes in response to increasing sustainability reporting requirements, such as the EU's CSRD directive, and growing consumer demand for eco-conscious businesses.

The reports will offer first-party data across Google’s advertising platforms, including Display & Video 360, Search Ads 360, Campaign Manager 360, and Google Ads. Advertisers will receive detailed emissions data categorized by Scopes 1, 2, and 3, following the Greenhouse Gas Protocol and the Ad Net Zero Global Media Sustainability Framework.

Early adopters like L’Oréal, Carwow, and LVMH have praised the new tool for offering more precise insights into their carbon footprint, allowing them to refine their carbon reduction strategies. Currently, the reports are available to select large scale advertisers, with broader availability expected in the future.

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