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IndiGo Ventures Makes Debut Investment in Jeh Aerospace After ₹450 Cr Fund Close
- IndiGo Ventures has closed its debut fund at ₹450 crore and made its first investment in Jeh Aerospace, a Hyderabad-based precision engineering startup focused on aerospace and defence components.
- Jeh Aerospace, founded by Vishal Sanghavi and Venkatesh Mudragalla, has quickly established itself by delivering flight-critical components, securing long-term contracts, and growing to a 100-member team.
- The funding amount for the investment in Jeh Aerospace remains undisclosed and will be utilized for scaling advanced manufacturing infrastructure, enhancing production optimization systems, expanding supply chain integrations, and attracting engineering talent.
- IndiGo Ventures, launched in 2024, aims to support early-stage startups in aviation and related sectors, aligning with India's 'Make in India' initiative. The investment in Jeh Aerospace aims to strengthen Indo-US aerospace ties and promote innovation in the aviation industry.
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Bloomberg Quint
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Landmark Ruling For India's GI Regime: Pisco Judgment And Its Far-Reaching Impact
- The Delhi High Court made a landmark ruling in the Pisco case, clarifying the co-existence of 'Pisco' as a homonymous Geographical Indication (GI) for both Chile and Peru.
- The court emphasized that protection under the GI Act is based on consumer association and geographical origin, not on traditional trademark concepts.
- The ruling reinforces India's legal framework for GIs and sets a precedent for resolving disputes over identical or homonymous GI names from different regions.
- The judgment allows for the coexistence of homonymous GIs in the Indian market, stressing the importance of geographical identity and product differentiation in marketing such products.
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Bloomberg Quint
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Visa Integrity Fee May Impact US-Bound Students, Tourists: Consultants
- A new 'visa integrity fee' is set to be imposed by the US, which may more than double the existing visa fee for Indian students, tourists, business travelers, and tech workers heading to the United States.
- The fee is part of the 'One Big Beautiful Bill' signed into law by President Donald Trump and will be in addition to any other existing fees for nonimmigrant visas.
- The exact amount of the fee and its implementation date are yet to be officially announced, but it is expected to come into effect from January 2026 onwards.
- Consultants suggest that the increased visa fee could significantly impact various visa categories, leading some individuals, particularly students, to consider alternative destinations outside the US.
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Bloomberg Quint
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Environment Ministry Eases SO2 Emission Norms, Exempts Large Number Of Coal Plants
- The Environment Ministry has eased SO2 emission norms for coal-based thermal power plants.
- Category A plants near highly polluted areas or cities with over 1 million population have compliance deadlines extended to December 2027.
- Category B plants near critically polluted areas will be assessed case-by-case instead of adhering to the earlier 2025 deadline.
- Category C plants are now exempt from sulphur dioxide norms if they meet stack height criteria, after receiving representations seeking exemptions due to various factors.
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Bloomberg Quint
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Iran Says It's Considering US Offer To Restart Nuclear Talks
- Iran is considering the US offer to restart nuclear talks.
- Iran's foreign minister stated that the US is keen on reviving negotiations but Iran is not rushing into talks.
- Tehran is assessing options regarding the timing, location, and structure of potential talks.
- Iran seeks guarantees of no future attacks and continues cooperation with the International Atomic Energy Agency.
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Bloomberg Quint
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EV Maker VinFast Signs Pacts With 13 Dealer Groups
- VinFast Auto India, a subsidiary of Vietnam-based electric vehicle maker VinFast, has signed agreements with 13 dealer groups for opening 32 dealerships across 27 cities.
- VinFast aims to establish 35 dealerships across India by the end of 2025 in preparation for launching its electric vehicles in the Indian market.
- The collaborations underline VinFast's commitment to creating a strong sales, service, and spares network as it prepares for the pre-booking of the VF 6 and VF 7 models on July 15.
- The initial dealerships will be strategically located in key urban and emerging EV markets in cities like Delhi, Chennai, Bengaluru, and more, chosen based on EV adoption, infrastructure readiness, and demand potential.
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Bloomberg Quint
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Air India Plane Crash Report: Preliminary Investigation Reignites Scrutiny Of FAA’s 2018 Fuel Switch Warning
- The preliminary report on Air India's AI171 crash reveals that the fuel cut-off switches moved seconds after take-off without pilot input, leading to both engines shutting down.
- The crash occurred 32 seconds after take-off, resulting in the loss of 241 of the 242 people on board and 19 people on the ground. One engine relit successfully, but the other did not recover, causing the crash just outside the airport perimeter.
- A civil aviation analyst noted that the fuel control unit with the same part number as one highlighted in a 2018 FAA advisory for Boeing 737s was used in the Air India Boeing 787, raising concerns about the fuel control unit's functionality.
- The investigation has reignited scrutiny over the FAA's 2018 warning regarding fuel control switch issues on Boeing aircraft, indicating potential similarities in the equipment used on the crashed Air India plane.
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Bloomberg Quint
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Air India Crash: Airline Pilots' Association Seeks Fair, Fact-Based Probe
- The Airline Pilots' Association of India is seeking a fair and fact-based probe into the Air India plane crash, objecting to a perceived bias towards pilot error in the investigation.
- The preliminary report by the Aircraft Accident Investigation Bureau revealed that the fuel supply to both engines of the crashed Air India flight was cut off simultaneously, leading to confusion in the cockpit and a rapid descent after takeoff.
- The association insists on transparency and accountability in the investigation process, rejecting the presumption of pilot error and calling for qualified personnel to be included in the inquiry.
- The crash on June 12 resulted in the loss of 242 lives on board and 19 on the ground, marking the deadliest aviation accident in a decade. Air India plans to involve its pilot community in reviewing the preliminary investigation report.
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Bloomberg Quint
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Neeraj Chopra, Arshad Nadeem To Face Off In Silesia Diamond League In Poland
- Neeraj Chopra and Arshad Nadeem are set to face off in the Silesia Diamond League in Poland on August 16, marking their first encounter since the Paris Games in 2024 where Nadeem won with a 92.97m throw.
- Chopra, the double Olympic medallist, will be looking to avenge his silver medal loss in Paris and will compete against Nadeem in the men's javelin event at the Diamond League.
- Both athletes have been active in various competitions since the Paris Games, with Chopra surpassing the 90m mark and Nadeem securing gold in the Asian Championships.
- The upcoming clash between the reigning world champion and Olympic gold medallist is expected to be a highlight of the Silesia Diamond League, offering fans an exciting showdown between the two javelin throwers.
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Bloomberg Quint
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Fractal Analytics Fundraising: IPO-Bound AI Firm Raises $150 Million At $2.44 Billion Valuation
- Fractal Analytics, an AI firm, raised $150 million in a secondary transaction from investors like Trust Investment Advisors and White Oak Capital, valuing the company at $2.44 billion.
- The funds were raised through the sale of a 6% stake by the existing investor Apax Partners to buyers including multiple funds advised by Trust Investment Advisors, White Oak Capital Management, Gaja Capital, and Neo Asset Management.
- Fractal Analytics offers AI and analytics services to Fortune 500 companies in various sectors and owns products like Asper.ai, Analytics Vidhya, and Qure.ai.
- The transaction was facilitated by Saraf and Partners advising the investors, AZB & Partners and Kirkland & Ellis advising Apax, and Shardul Amarchand Mangaldas & Co. representing Fractal.
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Bloomberg Quint
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Treasuries Hit By Second Week Of Declines On Inflation Jitters
- US Treasuries experienced a second week of losses with concerns over inflation resurfacing, leading to rising yields across the curve.
- Investors are worried about inflation due to Trump's tariff threats and increasing oil prices, despite expectations of the Federal Reserve cutting interest rates later this year.
- Government bond volatility has decreased, with the ICE BofA MOVE Index falling to its lowest level since January 2022.
- Interest-rate swaps suggest potential Fed rate cuts this year, with uncertainty about the timing, while policymakers are monitoring inflation concerns amid tariff threats.
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Bloomberg Quint
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Trump Says US To Impose 30% Tariffs On EU, Mexico Next Month
- President Trump announced 30% tariffs on the European Union and Mexico, effective August 1, if they do not negotiate better terms.
- Trump has been sending out letters to countries this week, adjusting proposed tariff levels from April and encouraging further negotiations.
- The EU's hopes for a tentative deal with the US were dampened by Trump's letter, which emphasized the need for open market access.
- In his letter to Mexico, Trump criticized the country for not doing enough to stop drug cartels from turning North America into a 'Narco-Trafficking Playground.'
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TechCrunch
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Just 3 days left to save before TechCrunch All Stage 2025 lights up Boston
- TechCrunch All Stage 2025 is set to take place at the SoWa Power Station in Boston in 3 days, offering founders, investors, and operators the opportunity to gain real-world strategies and valuable connections.
- The event promises practical value for attendees, including fundraising sessions, hiring guidance, go-to-market blueprints, pitch showdowns for feedback, and curated networking opportunities.
- Key speakers at the event include industry leaders such as Jennifer Neundorfer, Brandon Krieg, Tiffany Luck, Charles Hudson, Chris Gardner, and Jahanvi Sardana, covering topics like AI, investing access, pitching strategies, and product design.
- With Founder Passes priced at $100 and Investor Passes at $200, this is the final opportunity to secure tickets at the lowest prices before the event on July 15 in Boston.
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Bloomberg Quint
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NDTV Profit Exclusive: HDFC Bank Faces EOW Complaints On Misuse Of NRI Fixed Deposits
- HDFC Bank is facing complaints of misusing fixed deposits by NRI customers, with deposits worth Rs 25-30 crore being misused to pay for Credit Suisse's bonds.
- Complaints have been filed in Nagpur, Chandigarh, and Gurgaon, with allegations of fraud by the bank officials and possible filing of a first information report by the EOW.
- HDFC Bank officials are accused of inflating the eligibility of NRI customers to buy AT-1 bonds without informing them properly about the risks involved.
- The customers have been trying to resolve the issue since 2023, with regulators in India not having jurisdiction due to the bonds being purchased through the bank's Middle East offices.
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Bloomberg Quint
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Navi Mumbai Airport Updates: 94% Work Complete, Says Fadnavis; Sets Sept. 30 Target For Project Launch
- Maharashtra CM Fadnavis reports 94% completion of Navi Mumbai Airport project.
- Launch target for commercial operations set for Sept. 30, with focus on efficiency.
- Airport to handle 9 crore passengers annually, modern and fully-equipped.
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