Corporate News - November 2025

ECONOMY

Insurance Amendment Bill: Cabinet approves 100% FDI in Indian insurance firms

The Union Cabinet, led by Prime Minister Narendra Modi, has approved a landmark bill raising the Foreign Direct Investment (FDI) limit in insurance companies to 100%, along with structural reforms to strengthen the sector. The change is expected to attract significant foreign capital, increase competition, and enhance customer services in India's insurance market. The bill is expected to be introduced during the current Winter session of Parliament, which is scheduled to end on December 19, 2025.

'Budget 2026: India’s space sector seeks triple budget boost and a satellite mission for remote regions

India's space industry has asked the government to triple the budget for the sector and launch a national satellite connectivity mission backed by public funds to take communication services to remote regions. The demand was placed before the Finance Minister Nirmala Sitharaman on 26th November, when the Satcom Industry Association of India, or SIA-India, submitted its expectations from the coming Union Budget. The industry said the current allocation, which stands at 0.04 per cent of GDP, is too low for a sector that now supports a wide span of national functions. It said the share should be raised to at least 0.12 per cent. The association has also pushed for a National Satellite Connectivity Mission supported by the Universal Service Obligation Fund to improve digital access in remote, disasterprone and commercially unviable areas. It said the plan should include funding for satellite backhaul for about 40,000 difficult gram panchayats and a multi-year commitment system so that services remain predictable and steady. SIA-India has also asked the government to appoint a designated Certifying Authority for Customs Exemptions and introduce a single process for such exemptions to ensure swift approvals for essential space hardware. It further suggested a Hybrid Production-Linked Incentive scheme designed specially for long-cycle, low-volume space manufacturing to limit risks, scale up capacity and attract global joint-venture partners.

Union Cabinet approves C7,280-crore scheme to manufacture rare earth magnets in India

The Union Cabinet chaired by Prime Minister Shri Narendra Modi today approved the ‘Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets’ with a financial outlay of C7280 crore. This first-of-its-kind initiative aims to establish 6,000 Metric Tons per Annum (MTPA) of integrated Rare Earth undefined Permanent Magnet (REPM) manufacturing in India, thereby enhancing self-reliance and positioning India as a key player in the global REPM market. The Scheme will also support the creation of integrated REPM manufacturing facilities, undefined involving conversion of rare earth oxides to metals, metals to alloys, and alloys to finished REPMs. With this initiative, India will establish its first ever integrated REPM manufacturing facilities, generating employment, strengthening self-reliance and advancing the nation’s commitment to achieve Net Zero by 2070. The total duration of the scheme will be 7 years from the date of award, including a 2-year gestation period for setting up an integrated REPM manufacturing facility, and 5 years for incentive disbursement on the sale of REPM.

Ottawa close to uranium deal with India worth $2.8 billion

Canada and India are close to finalizing an export agreement in a deal valued at about $2.8 billion. The deal for Canada to ship uranium to India would run for 10 years if finalized, adding that uranium would be supplied by Canada's Cameco Corporation. The deal could be a part of a broader nuclear cooperation effort between the two countries. Canadian Prime Minister Mark Carney met with Indian Prime Minister Narendra Modi for a discussion on the side-lines of the G-20 summit in Johannesburg, South Africa. Both agreed to unlock the potential for deeper cooperation in defence and space sectors, besides advancing ties in areas such as trade, investment, technology and energy. In a statement, the Ministry of External Affairs said that the two leaders also welcomed the adoption of Australia-Canada-India Technology and Innovation (ACITI) Partnership which would give a boost to trilateral cooperation in the fields of critical technologies, nuclear energy, diversification of supply chains and AI. The Centre also said that the two countries agreed to restart stalled talks for a new trade deal, after discussions had paused following a diplomatic spat two years ago.

ESG

Google launches new free tool to help manufacturers identify energy efficiency opportunities

Google announced the launch of its new Energy Assessment tool, a new solution aimed at helping plant and sustainability managers at manufacturing companies to identify energy efficiency improvement opportunities. According to Google, the new tool aims to address key challenges in unlocking cost savings and emissions reductions through energy efficiency, including the high cost of energy assessment consultants, difficulty in securing capital for efficiency projects, and a lack of in-house energy management expertise. the new platform enables customized project recommendations, with users able to analyze more than 20 opportunities across key systems such as air compressors, boilers, chillers, and lighting, to identify energy efficiency projects with the highest potential for cost and carbon reduction, such as equipment upgrades, operational adjustments, and solar installations. The platform also allows users to evaluate multiple facilities to compare results and prioritize investments for the greatest impact, and to collaborate teams and upstream suppliers.

Hong Kong Issues $1.2 Billion Digital Green Bond Package

The Hong Kong SAR Government has completed a record HK$10 billion multicurrency digital green bond issuance, the largest sovereign-backed digital bond offering to date. The deal, spanning HKD, RMB, USD and EUR tranches, drew exceptional demand with subscriptions exceeding HK$130 billion. The bonds were issued as HKD2.5 billion (two-year notes), RMB2.5 billion (five-year), USD300 million (three-year), and EUR300 million (four-year). The transaction strengthens Hong Kong’s position as a green finance leader while accelerating its shift toward tokenised market infrastructure. The issuance introduces new technical milestones, including ISO 24165 Digital Token Identifiers linked to ISINs and LEIs, improving traceability and automated compliance. It also expands the use of ICMA’s Bond Data Taxonomy, enhancing interoperability and supporting straight-through processing. Officials say the move brings digital bonds closer to endto- end automation and demonstrates that sovereign-scale tokenised issuances can be executed securely. The model is expected to influence global efforts in developing tokenised securities and modernising settlement systems.

Amazon-backed X-energy Raises $700 Million to Meet Demand for Advanced Nuclear Reactors

Nuclear technology company X-energy has secured $700 million in a Series D funding round to expand its supply chain and accelerate commercial deployment of its advanced small modular reactors (SMRs). The raise follows a similar $700 million Series C round earlier this year led by Amazon’s Climate Pledge Fund. The latest round was led by Jane Street and included new investors such as ARK Invest, Galvanize, Hood River Capital Management, Point72, Reaves Asset Management, and XTX Ventures. X-energy said the funding comes as its orderbook exceeds 11 GW, representing roughly 144 SMRs. Its first proposed four-unit Xe-100 plant is planned for Dow’s UCC Seadrift site on the Texas Gulf Coast, supported by the U.S. Department of Energy’s Advanced Reactor Demonstration Program. The company is also working with Amazon to deliver more than 5 GW of projects across the U. S. by 2039 and with Centrica to deploy 6 GW of capacity in the UK.

TECHNOLOGY

Apple is challenging India’s anti-trust body over a potential $38 billion fine

Apple has filed a petition in the Delhi High Court challenging India’s new antitrust law, arguing that the Competition Commission of India (CCI) should not use global turnover to calculate penalties. The company said the approach is “unconstitutional, grossly disproportionate, and unjust,” and could expose it to fines of up to $38 billion. The case comes amid an ongoing CCI investigation triggered by complaints from a coalition of Indian start-ups and Match Group, alleging that Apple engages in “abusive conduct” by requiring developers to use its in-app payment system and pay high commissions. Apple has denied the allegations. While the CCI’s final ruling is pending, its 2021 preliminary order stated that the mandatory use of Apple’s IAP system may limit developers’ choice of payment processors.

Elon Musk’s xAI Set to Raise $15 Billion at $230 Billion Valuation

Elon Musk’s AI start-up xAI is expected to close a $15 billion funding round in December at a $230 billion pre-money valuation, underscoring investors’ surging appetite for advanced AI platforms. The move follows massive raises across the sector. OpenAI recently completed a $6.6 billion share sale at a $500 billion valuation and is reportedly eyeing a $1 trillion IPO, while Anthropic secured $13 billion in September, tripling its valuation since March. According to reports, the new funding will primarily support a major expansion of xAI’s AI infrastructure, including GPU processing capacity and supercomputing hardware to power large language models. Additionally, the funds are likely to accelerate development of xAI’s flagship AI assistant Grok, enabling the company to scale its compute-intensive workloads and further integrate AI services with X’s user base and other Musk ventures.

MERGER AND ACQUISITIONS

IndusInd Holdings completes Invesco AMC deal, becomes MF co-sponsor

The IndusInd International Holdings (IIHL) has completed the acquisition of a 60 per cent stake in Invesco Asset Management India, making it the joint sponsor of Invesco Mutual Fund (MF) alongside the United Statesbased Invesco. The deal, first announced in April 2024, has received all necessary regulatory approvals. The acquisition marks IIHL’s entry into the fast-growing mutual fund and asset management business in India. Invesco, meanwhile, is expected to gain from IIHL’s strong distribution capabilities.Ashok Hinduja, Chairman, IIHL, said the deal aligns with the company’s goal of becoming a global financial powerhouse. “This is the most opportune time, when India, on the back of rising income levels and favourable demographics, offers enormous investment prospects to all Indians, the diaspora included. We will endeavour to reach the last home, last investor transparently and efficiently and live up to investors’ expectation that mutual fund sahi hai,” he said.

ES-Tec acquisition likely to help expand Tata Technologies' presence

Tata Technologies has completed its acquisition of Germany-based Es-Tec GmbH and its subsidiaries on November 27, closing the deal ahead of the earlier timeline of December 31, 2025. The transaction, valued at €75 million and tied to performance-based milestones, strengthens the company’s position as a global engineering, research and development partner for leading automotive manufacturers. The acquisition adds more than 300 German engineers with expertise in ADAS, connected platforms, systems engineering and embedded software to Tata Technologies’ global delivery network. It also gives the company a stronger presence in Europe, with Es-Tec’s Wolfsburg base offering direct access to major OEM programmes involving brands such as BMW and Volkswagen.By integrating Es-Tec’s advanced engineering and testing capabilities with its own offshore delivery model, Tata Technologies aims to deepen its engagement with global OEMs and expand its footprint in key automotive technology areas, including electrification and software-defined vehicles.

TASE Global acquires US-aerospace firm Joined Alloys for Rs. 106 crore

Trusted Aerospace Engineering (TASE Global), based in Chennai, has announced the completion of its acquisition of Joined Alloys, a leading US-based firm specialising in aerospace manufacturing, special processes, and sheet metal fabrication and product development, for Rs. 106 crore. With existing facilities in India and the US, this acquisition marks a strategic milestone in TASE Global’s expansion in the North American market, reinforcing its commitment to building a worldclass manufacturing and assembly platform with global outreach. The deal adds two factories of Joined Alloys to its manufacturing capacity, and TASE to expand its operations into precision metal assembly. The company also plans to establish these capabilities in India and aims to invest additional capital over the next three years for large component machining, aerostructure, and additional capabilities in India.TASE’s India facility is currently building enginerelated components. With the expansion of the Chennai plant, the company plans to develop capabilities for large aerostructure components and a world-class surface treatment facility under construction with zero liquid discharge as a testament to TASE’s commitment to sustainability.

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