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HinduBusinessLine
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Proposed satcom services fees may pose a hurdle for small entrants
- TRAI has proposed levying 4% of Adjusted Gross Revenue for Geostationary Orbit and non-GSO services, along with an additional charge of ₹500 per subscriber per annum in urban areas for simplification and ease of doing business.
- The proposed fees may pose challenges for small satellite communication operators entering the market, as they may struggle to handle the spectrum fees and license contributions compared to larger players like OneWeb, Starlink, and Kuiper.
- TRAI's recommendation for AGR-based charging aims to benefit small operators and create a healthy market structure, although stakeholders are still deliberating on these proposals.
- Satcom services are expected to be priced higher than existing terrestrial mobile and fixed-line services due to satellite infrastructure costs, which could impact initial commercial success, especially in urban and corporate sectors.
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Bloomberg Quint
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Adani Defence & Aerospace And Sparton Enter Partnership To Indigenise Anti-Submarine Warfare Solutions
- Adani Defence & Aerospace has partnered with Sparton to assemble Anti-Submarine Warfare solutions for the Indian Navy under Aatmanirbhar Bharat initiative.
- This partnership will focus on localizing the production of sonobuoys and other Anti-Submarine Warfare systems in India, reducing dependency on foreign manufacturers.
- Sonobuoys are crucial for undersea domain awareness and detecting submarines, contributing significantly to anti-submarine warfare and naval operations.
- Adani Defence & Aerospace aims to enhance India's undersea warfare capabilities through this partnership and promote self-reliance in defense technology.
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HinduBusinessLine
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Adani Defence signs pact with Sparton to indigenise anti-submarine warfare systems
- Adani Defence has signed a pact with Sparton to indigenize anti-submarine warfare systems, making it the first private sector company in India to offer indigenised sonobuoy solutions.
- The collaboration will combine Sparton's ASW technology with Adani Defence's expertise in development, manufacturing, and sustainment for the Indian Navy.
- Sonobuoys are crucial in enhancing Undersea Domain Awareness (UDA) and play a key role in detecting, locating, and tracking submarines and underwater threats.
- This initiative aligns with 'Aatmanirbhar Bharat' and 'Make in India' initiatives, aiming to reduce India's dependence on foreign OEMs and strengthen its undersea warfare capabilities for safeguarding sovereignty and national interests.
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HinduBusinessLine
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Large cement makers report volume growth in Q4; expect to continue momentum in FY26
- Leading cement firms like UltraTech, Ambuja Cements, ACC, Shree Cements, and Dalmia Bharat expect a 7-7.5% growth in FY26 due to government infrastructure spending and rural recovery.
- Cement industry saw volume growth in Q4, with topline numbers facing challenges due to lower sales realisation, despite cheaper input costs.
- Operating margins for cement companies are expected to improve in FY26 due to marginal price hikes and stable input costs, as per ICRA report.
- In Q4, UltraTech reported 41.02 MT sales volumes, Ambuja Cements achieved record 18.7 MT sales, Shree Cements reported 9.84 MT sales volume, and Dalmia Bharat saw a 2.8% increase to 8.6 MT sales volume.
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HinduBusinessLine
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Oil regulator mandates registration for LNG terminals, drops common carrier capacity requirement
- The Petroleum and Natural Gas Regulatory Board (PNGRB) has notified new regulations for the Registration for Establishing and Operating Liquefied Natural Gas Terminals, focusing on oversight, competition, and consumer protection.
- The regulations aim to align with India's vision of increasing the share of natural gas to 15% in the energy mix by 2030 and ensure equitable gas availability and infrastructure for LNG evacuation through pipelines.
- Entities planning to build or expand LNG terminals must inform PNGRB before final investment decisions, with PNGRB approval based on promoting competition, avoiding unnecessary investments, and ensuring gas availability and customer interest protection.
- Unlike earlier drafts, the final regulations do not include the common carrier capacity requirement for third-party access to new LNG import facilities, with PNGRB focusing on business plans, evacuation plans, and regulatory compliance for terminal registrations.
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Debugging agentic systems is more psychology than coding.
- Debugging agentic systems has become more psychology than coding due to advanced protections in place.
- Implementing safeguards in AI systems have made it challenging to directly interrogate the system about its decision-making process during errors.
- Dealing with protected systems now requires indirect questioning, observation of behaviors, and creating conditions to encourage the system to reveal its internal processes.
- As AI systems become more advanced and incorporate complex sensory inputs, the need for robopsychologists who can interpret and debug these systems without direct access to their inner workings will increase.
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Bloomberg Quint
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India Largest Market For Electric Three-Wheelers: IEA
- India remains the largest market for electric three-wheelers for the second consecutive year, with sales reaching around 700,000 vehicles in 2024, representing a 20% increase.
- The Global EV Outlook 2025 report by the International Energy Agency (IEA) highlights India's significant role in the growth of the global electric three-wheeler market.
- Electric three-wheeler sales surpassed 1 million vehicles in 2024, with electric sales accounting for nearly one-quarter of all three-wheeler sales.
- China and India collectively dominate over 90% of electric and conventional three-wheeler sales, with India leading in electric three-wheeler sales.
- Policy support in India, like the PM E-DRIVE scheme, has boosted the adoption of electric three-wheelers for commercial use, with plans to introduce over 300,000 electric three-wheelers.
- India's electric two-wheeler market is also evolving, with increasing competition leading to more affordable electric models being offered by OEMs like Ola.
- Government policies like the PM Electric Drive Revolution aim to bridge the affordability gap between electric and ICE (Internal Combustion Engine) two-wheelers by offering purchase incentives.
- India's electric car sales witnessed a modest increase, with high import duties on EVs and competitive pricing of domestically produced electric models impacting Chinese imports.
- Indian electric bus deployment has seen rapid growth, with the stock increasing significantly since 2020, indicating a shift towards cleaner public transportation.
- The IEA report emphasizes the ongoing transformation in India's transportation sector towards electric mobility across various vehicle segments.
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Bloomberg Quint
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146
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IMF Imposes 11 New Conditions On Pakistan, Warns Against Risks To Bailout Programme: Report
- The IMF has imposed 11 new conditions on Pakistan for the release of the next tranche of its bailout programme, warning of risks posed by tensions with India to the scheme's goals.
- New conditions include parliamentary approval of a Rs 17.6 trillion budget, debt servicing surcharge increase, and lifting restrictions on importing over three-year-old used cars.
- IMF highlights that sustained or escalated tensions between India and Pakistan could jeopardize fiscal, external, and reform objectives of the programme.
- Despite heightened tensions, market reactions have been modest, with the stock market maintaining gains as per the IMF report.
- The defence budget for the next fiscal year in Pakistan is estimated at Rs 2.414 trillion, a 12% increase from the previous year.
- Additional conditions imposed by the IMF include governance action plans, financial sector strategy post-2027, and energy sector reforms.
- The government must adopt legislation related to electricity tariffs, gas tariffs, debt service surcharges, and incentivize shifts to national electricity grid.
- IMF also demands a plan to phase out incentives related to Special Technology Zones and industrial parks by 2035 and lift restrictions on importing used motor vehicles.
- Pakistan is urged to submit required legislation to Parliament by specified deadlines to meet IMF conditions and bailout programme requirements.
- Tensions between India and Pakistan have been escalating, with recent military strikes and conflicts, influencing the IMF's caution with Pakistan's bailout programme.
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Bloomberg Quint
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264
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India's Smartphone Exports Soar, Surpassing Petroleum Products, Diamonds In FY25
- India's smartphone exports have increased significantly, surpassing petroleum products and diamonds as the country's top exported goods.
- Smartphone exports rose by 55% to $24.14 billion in 2024-25 from $15.57 billion in 2023-24 and $10.96 billion in 2022-23.
- Top five nations contributing to the growth in smartphone exports were the US, the Netherlands, Italy, Japan, and Czech Republic.
- Government initiatives like the Production-Linked Incentive scheme have played a key role in boosting investments, local production, and India's integration into global value chains.
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HinduBusinessLine
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7
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India can become powerhouse in cruise tourism: Thomas Cook India MD
- Cruise holidays have become popular due to simplified travel experience offered with all-inclusive amenities.
- Thomas Cook India's MD expressed optimism for growth in the cruise tourism segment with government initiatives like Cruise Bharat Mission.
- Challenges in India's travel sector include limited quality hotels and connectivity issues in certain regions.
- Volatility in airfares poses challenges for travel planning and profitability in the industry.
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HinduBusinessLine
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Israeli strikes across Gaza kill 75 people, hospitals and medics say
- Israeli airstrikes in Gaza killed over 75 people, including many women and children.
- Hospitals and medics reported that airstrikes hit houses and tents sheltering displaced people in southern Gaza.
- Israel has intensified its offensive in Gaza with a new plan named “Gideon's Chariots” to pressure Hamas for a temporary ceasefire.
- Amidst the Gaza conflict, Israel intercepted a Houthi missile launched towards the country early Sunday.
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HinduBusinessLine
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India-UK apparel, home textiles trade to double in 5-6 years under FTA: ICRA
- India and the UK have entered into an FTA expected to be operational in CY 2026, which is likely to double the apparel and home textiles trade between the two countries in the next 5-6 years.
- The FTA involves India reducing tariffs on 90% of British goods, with 85% becoming completely duty-free over ten years, while Britain will lower tariffs on certain products, resulting in 99% of India's exports to the UK facing zero duties.
- Currently, India is the 12th largest trading partner of the UK and ranks fifth in terms of apparel and home textiles imports. The UK's share of Indian exports is expected to reach 11-12% by CY 2027, reflecting an 11% CAGR between CY 2024 and CY 2027.
- With the elimination of tariffs on 99% of Indian goods, including textiles, it is anticipated that additional capacities will be added in the next 4-5 years to fulfill orders. Post-FTA implementation, India would have a level playing field compared to other duty-free access nations like Bangladesh, Vietnam, and Pakistan.
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Bloomberg Quint
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0
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India Beckons the Musks: Errol to Arrive After Maye’s Visit
- Errol Musk, father of Elon Musk, to visit India from June 1st to 6th, exploring business opportunities and cultural exploration.
- Errol Musk will tour Servotech Power Systems Ltd's renewable energy facility and meet with key government ministries during his visit.
- His recent appointment as Global Advisory Board Member for Servotech Renewable indicates a focus on India's green energy sector.
- Errol Musk's visit follows his wife Maye Musk's trip to Mumbai last month; marking the Musk family's growing interest in India.
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