Business News Highlights – January 30, 2025

Discover essential business news highlights! Get quick updates on market trends, economic shifts, and industry insights to empower your decision-making.

Thursday, 30 January 2025

Trending News Fox, Digital Desk Team, Kolkata

Edited by Saibal Bose

Business News Highlights – January 30, 2025

India’s Evolving Business Landscape: Key Developments

Business News Highlights:- Government Shifts Focus from Privatization to Revitalization of State-Owned Enterprises

The Indian government, led by Prime Minister Narendra Modi, is changing its strategy. It is moving away from extensive privatization. Instead, it focuses on investing in and revitalizing state-run companies. Plans include a $1.5 billion rescue package for two state-owned firms, notably helicopter operator Pawan Hans.

Privatization efforts for at least nine other state-owned units have been paused due to internal opposition. This policy shift is influenced by expectations of returning these entities to profitability. Additionally, political considerations, like resistance from employee unions, play a role. As a result, New Delhi is anticipated to miss its divestment targets for the sixth consecutive year.

Business News Highlights:- Challenges in India’s Banking Sector

India’s banking industry is encountering significant hurdles, including an uptick in bad debts and sluggish credit growth. Major private banks have reported increased loan defaults, especially in unsecured segments like credit cards and personal loans. Axis Bank’s Amitabh Chaudhry predicts subdued deposit and credit growth until 2026. Meanwhile, HDFC Bank has increased its provisions by 17% in anticipation of higher defaults.

The economic landscape is further strained by high inflation. There is also a slowdown in consumption. This prompts the Reserve Bank of India to keep elevated interest rates. The government has revised its GDP growth forecast to 6.4% for the upcoming year. In response, the central bank has introduced measures to inject liquidity into the banking system.

Sabyasachi Mukherjee’s Global Expansion

Celebrated designer Sabyasachi Mukherjee hails from Kolkata. He is marking his 25-year career with a grand show in Mumbai. It is themed around Old Kolkata. Mukherjee has been a significant figure in global fashion since his debut in 2002. He is known for blending Western silhouettes with Indian craftsmanship.

His journey includes collaborations with Christian Louboutin, H&M, and Estée Lauder. He also opened flagship stores, including one in New York in 2022. Looking ahead, Mukherjee plans to expand into the Middle East and Southeast Asia. He is also exploring ventures in fragrance and beauty lines.

Business News Highlights:- Broadridge Financial’s Expansion in India

U.S. fintech firm Broadridge Financial plans to increase its technology workforce in India by 26%. The aim is to reach 6,800 employees over the next three years. The company aims to modernize its legacy technology.

It also plans to sell its products in the Indian market. They will achieve this through a strategy of acquisitions. Most of the new hires will be software engineers. This move aligns with a broader trend. Multinational companies are establishing local offices in India. They support operations, research and development, and cybersecurity.

Business News Highlights:- Indian Jewelers Target Western Markets

Indian jewelers are increasingly expanding into Western markets, driven by a large diaspora and growing global interest in Indian culture. Designers like Sabyasachi Mukherjee have successfully established their brand in New York. Ananya Malhotra has established her brand in London.

They achieved this by blending traditional Indian craftsmanship with contemporary designs. Despite challenges like Brexit and VAT changes, jewelers continue to see business growth by leveraging multiple international locations. This global outreach underscores India’s rich jewelry tradition and its evolving appeal beyond traditional aesthetics.

India’s Business Landscape: Key Developments