Made in USA: Thank you, India

Spurred by Trump’s reshoring push and tariffs, Indian companies are ramping up US bets—over $40B announced. Essar leads with an $18B Iowa steel plant via Mesabi; JSW and others expand; pharma invests amid tariff threats; Reliance backs a Texas refinery.

Sonia Gandhi’s memoir, Belonging: A Journey of Love, is seeing frenzied demand nationwide after its Nov 10 release, with brisk store and online sales and many buyers aged 25–50. Industry watchers foresee a decade-defining launch. Penguin quit over edits; HarperCollins published.

Traders reported a BSE tech glitch Wednesday hindering limit orders; Zerodha cited F&O price feed issues, later resolved 2:36 pm; BSE didn’t comment. Separately, NCDEX launched a steel scrap futures (HMS 80:20) with BigMint as PRA: 10 MT lot, cash-settled, Mandi Gobindgarh, ₹10/MT tick.

Ahead of the 31st CII Partnership Summit 2026 in Visakhapatnam, AP CM N. Chandrababu Naidu reports 526 of 740 MoUs realised (₹17.2 tn), highlights Google’s $15bn AI hub and AM/NS steel, plans hubs for AI/quantum/design, green power and Polavaram by March, WEF coal-to-clean, and better Centre ties.

Extension of Agnipath tenure to six years, with up to 100% Agniveers continuing, derails private security plans to hire ~35,000 as higher-paid Guarding Officers. CAPSI will upskill current guards via RRU’s RPL, seek MHA support on ~₹750 retraining costs; smaller firms warn of training gaps.

Amul and Mother Dairy will raise milk prices by ₹2–4/L from Nov 12, 2026, citing costlier feed, fuel, uneven rains and pricier maize amid ethanol demand. KMF earlier hiked Nandini milk ₹8/L and curd ₹14/L; ghee also rose. Second FY26–27 hike, likely to lift food inflation.

Citigroup’s Viswas Raghavan urges India to be AI‑native as global capital favors AI hubs. He sees a strong IPO/M&A pipeline, ample PE dry powder, and Europe‑led cross‑border deals, but flags AI infra gaps. Citi to grow in banking, markets, services as India’s role rises.

Gujarat’s KP Group plans a ₹5,000+ crore, 10 GWh battery cell plant (phase-1 by Mar 2028), eyes BESS development in Africa, GCC and Europe post-2030. It has 1.5 GWh BESS orders from GUVNL, targets IPP/EPC to 10 GW by 2032, and is piloting green hydrogen with an NTPC order.

Brokerages see Indian FMCG facing stubborn input inflation in H2 FY27, driving more price hikes/shrinkflation, pressuring margins and volumes. HUL growth skews to premium lines; Britannia battles broad cost rises; Nestlé buoyed by pricing/productivity; GCPL margins weaker, uncertainties persist.

India’s top two-wheeler makers expect moderating H2 FY27 growth after a GST-boosted base, uneven rural demand and a widening premium–entry gap. Festive signs are mixed, but EVs, scooters and premium bikes lead gains. H1 industry sales rose 17.6%, with scooters near 40% and EVs surging.

Amid record Diwali UPI volumes, banks told fintech partners to toughen merchant onboarding, beneficiary checks and curb straight-through payouts after fraud alerts. Focus on API-key theft risks (e.g., PHP2Shell), with key rotation and IP whitelisting. RBI issued updated cybersecurity rules for PSOs.

India hikes rabi 2026-27 NBS by ₹62,370 cr, lifting FY27 non-urea aid to ~₹1.03 tn and total fertiliser subsidy past ₹3 tn. Biggest rise: sulphur ₹10.42/kg (N ₹94.21, P ₹66.11). Sulphur package, TSP/MAP aid, SSP freight to cheapen NP/NPKS, boost output, curb DAP overuse.

IIFL Finance to raise ₹6,414 crore via Blackstone (₹5,000 cr CCPS at ₹602; 15.7% post-conv) and Anchorage; promoters add ₹1,264 cr via warrants. Capital ratios to ~26% Tier-1/~30% CAR, easing funding and aiding growth; some EPS dilution. Stock up 6.3%; approvals pending; Fairfax may pare stake.

The rupee rose 0.26% to 93.69/$, second-best in Asia after the won, aided by $6b Nov equity inflows and positive NDF cues despite a stronger dollar on hot US CPI and Fed hawkishness. INR is up MTD/QTD/FY but down YTD. Govt bond yields rose (10y 7.21%). Markets await India Oct CPI.

Equity MF net inflows fell 14% MoM in Oct to ₹32,994 cr as smallcap/midcap inflows cooled 33% to ₹11,301 cr on profit booking and valuation caution. Large & midcap inflows nearly doubled to ₹8,484 cr. SIPs eased to ₹32,160 cr. Overall MF net inflows hit ₹1.74 tn; AUM rose to ₹83.39 tn.

Equities extended gains as FPIs poured in and Brent slid below $95. Nifty 50 rose 0.84% to 25,255; Sensex +0.95% to 81,879. Auto and banks led; M&M +5.3%, IndiGo +4.3%, Adani Ports -1.8%. Small/midcaps outperformed. Oil's 19% drop lifted OMCs; rupee, earnings recovery aided sentiment.

NCS microzonation shows parts of eastern Bhubaneswar, though in Zone III, face higher seismic hazard: soft alluvium can amplify motion up to 3×, yielding PGA 0.14–0.17g (0.20–0.27g in rare events) vs code 0.08–0.16g, notably along Kuakhai/Daya. 

Jubilant FoodWorks beat in Sep quarter: Domino’s India rev +9.2% YoY, LFL +4.1%, delivery +11.3% (76% mix); 88 net stores to 2,601. Popeyes rev +122%, LFL +53%, 99 stores. Gross margin 75.5% (+110 bps), OPM 19.8%. Stock ₹433.95; brokers bullish with TP ₹500–₹610.

Jubilant FoodWorks beat in Sep quarter: Domino’s India rev +9.2% YoY, LFL +4.1%, delivery +11.3% (76% mix); 88 net stores to 2,601. Popeyes rev +122%, LFL +53%, 99 stores. Gross margin 75.5% (+110 bps), OPM 19.8%. Stock ₹433.95; brokers bullish with TP ₹500–₹610.

On its 105th Foundation Day, Tamilnad Mercantile Bank announced expansion and tech upgrades: a new Anna Nagar branch, a credit card, Smart Kiosks, AI telecalling “TMB Vani” (40 languages), and auto-reconciliation. 

Odisha scraps quota in Madhu Babu Pension Yojana, adding 5.06 lakh beneficiaries (total 41.8 lakh). Extra ₹625 cr/yr. New portal streamlines enrolment; payouts begin next month. Pensions ₹1,000–₹1,200 now, rising to ₹3,500 for 80+ and >80% disabled from Jan 2025.

RBI unified domestic money transfer rules, retaining cash limits: NEFT walk-ins ₹50k; BC/ATM ₹5k/txn, ₹25k/month; cash payouts to unbanked ₹10k/txn, ₹25k/month. KYC+AFA, safeguards; near real-time via RBI systems. Applies to banks/PSOs; card-to-card excluded; grievances under RBI IOS 2026.

Odisha and Japan’s Tottori Prefecture signed a pact to boost investment, business links, skills and cultural exchange, creating overseas jobs. An 80-member Japanese delegation explored opportunities, with MoUs for startup collaboration and workforce development across multiple sectors.

Nvidia chair Jensen Huang—now under board probe after admitting an affair with a woman alleged tied to Chinese intelligence—has pushed major India AI moves: Reliance Blackwell chips, Yotta/L&T deals, Sarvam investment. Despite China curbs, revenue soared amid GPU shortages; board cites no breach.

APEX‑T2D umbrella review of 13 reviews (>200M people) finds long‑term PM2.5 raises type 2 diabetes risk 10–16% per +10 µg/m³, even at low levels. Broadens air‑pollution harms to metabolic health; urges stricter policy, especially in South Asia.

Union Cabinet approves 8.5-km Aqua Line extension from Noida Sector 51 to Greater Noida Sector 4 with 5 stations, Rs 2,390 crore cost, 4-year timeline. Network to reach 71.88 km, linking malls, offices, IT hubs, schools, hospitals (incl. Gaur City, IKEA), boosting mobility and economic activity.

Finance Ministry makes EVs default for govt staff cars with a Rs 20 lakh cap; ICE capped at Rs 10 lakh—seen as shifting, not boosting, modest volumes. It also updates device buys: laptops/tablets Rs 1.5 lakh (Rs 1.8 lakh with >40% Make-in-India), 4-year retention.

Cabinet okays extension of Stand-Up India to Mar 31, 2031, with a ₹4,111 cr credit guarantee corpus. Targets support for 2.5 lakh more women/SC/ST entrepreneurs via ₹10 lakh–₹1 cr loans for greenfield ventures, 85% guarantee at 0.5% fee, boosting access to credit and inclusive growth.

India’s revamped PLI for medical devices shifts focus from therapy areas to supply-chain depth, adding MSMEs and components under four segments with 5–9% incentives. Eased norms drop thresholds, allow 3-year setup; ₹2,700 cr till 2035-36 to cut imports.

India has banned exports of lithium‑ion battery “black mass” (HS 85491400) with immediate effect to secure critical minerals and boost domestic recycling. Aligned with the NCMM, it aims to improve feedstock, curb misdeclaration, cut import reliance, and strengthen EV/clean‑energy supply chains.

R Systems CEO Nitesh Bansal says revenue is shifting to AI-native products and services as traditional engineering declines. AI-first boosts accuracy and speed, doubling service calls. Blackstone acquired R Systems for retention/quality; hiring favors AI-native freshers.

Nitin Desai recalls that reform ideas predated 1991—citing the 1979 Dagli report and 1984 computer policy—and says IMF pressures shaped 1991. He sees finance liberalisation as most transformative.

Nitin Desai recalls that reform ideas predated 1991—citing the 1979 Dagli report and 1984 computer policy—and says IMF pressures shaped 1991. He sees finance liberalisation as most transformative.

IEA: India’s renewables avoided $100B in coal/gas imports (2011–25), with savings poised to reach $240B and $35B/yr. Since 2014, +218 GW solar/wind/bio; total RE topped 300 GW in 2026; 50% capacity non-fossil by 2025. Solar tariffs 40% below coal; rooftop push via PM Surya Ghar.

Moody’s kept India’s FY27 growth at 7% and sees 7% through 2028, citing energy-shock resilience, strong consumption and reviving private capex. Risks: high inflation near RBI’s upper band, weak rural demand, poor monsoon/El Niño and tighter policy. Inflation seen easing to 4% by 2028.

India life insurers’ NBP rose 26.2% YoY to ₹42,914 cr in Oct 2026, led by LIC (+31.35% to ₹25,316 cr) and private players (+19.45% to ₹17,599 cr; ICICI Pru +37.46%). Apr–Oct FY27 NBP +21.39% to ₹2.89 trn. Policy volumes lag: 13.6m (+1.15%); LIC -3.05% to 8.27m, privates +8.48% to 5.29m.

South Korean auto parts makers Hwashin and Seoyon E-Hwa Summit will invest ₹1,370 crore in Tamil Nadu over five years, rejecting reports of shifting to Andhra Pradesh. Their plans back R&D, tech upgrades, localisation and capacity expansion, reaffirming confidence in TN’s industry.

Krisp sees India overtaking the Philippines as its largest deployment market, driven by voice translation beyond noise cancellation/accent conversion. Supporting 12+ Indian languages, its call-center AI cuts costs 20%+ and expands multilingual hiring.

From Dec 3, NRIs/OCIs and foreigners in FATF-compliant countries can complete SEBI KYC remotely to open Indian investment accounts. Brokers will use video, geotagging and liveness checks; KYC reusable. NRE/NRO, PIS steps and some US/Canada limits remain. 

AI-led discovery and personalisation are defining India’s festive e-commerce. Meesho saw 85% of Day-1 orders via AI; Amazon’s Rufus users purchased 75% more; Snapdeal had 81% AI-engaged orders. AI also aids forecasting, logistics, fraud and support amid surging consumer adoption.

India okays 5-year extension of CGFMU under PMMY with ₹5,000 cr till Mar 31, 2031; targets ₹12.6 tn collateral-free loans. Guarantee fee cut to 0.75% (SHG unchanged). Coverage expanded to PMJDY overdrafts and SHG portfolios to boost micro-entrepreneurship.

Finance Ministry makes EVs the default for central government staff cars, doubling the EV purchase cap to ₹20 lakh (ICE cap ₹10 lakh) to boost e-mobility and cut fossil-fuel use. Buying/hiring ICE or hybrid needs strong justification and top approvals. 2022 EV hiring rules continue. 

Union Cabinet approved NBS rates for P&K fertilisers for Rabi 2026–27, effective Oct 1, 2026–Mar 31, 2027. Budget ₹62,370.02 crore, up ₹24,417.73 crore from last Rabi. Covers DAP/NPKS. Aims to keep prices affordable and rationalise subsidies amid global price trends under the 2010 NBS.

Post-Diwali, Delhi’s PM2.5 spiked (to 4,985 µg/m³), yet AQIs diverged (AQI.in 2,283; CPCB 370; IQAir 245). CPCB says NAQI drops PM >1,000 µg/m³ and caps AQI at 500, masking extremes. Variations stem from different scales, methods, sensors, sites, averaging; low-cost sensors aid trends, not precision

As Chhath Puja nears, Bihar-bound trains face surging demand: 37,698 passengers left Surat/Udhna on Nov 6 and waitlists exceed 150–200 on many routes. Railways has rolled out 100+ special/extended services linking Bihar with Delhi, Mumbai and Tamil Nadu, plus Vande Bharat runs and added RPF staff.

IITM says firecrackers drove Delhi’s PM2.5 around Diwali: 43.4% (1–9 am Nov 8), 71.1% Nov 9 vs vehicles 6.9%, and 29.8% Nov 10. PM2.5 hit 4,985 µg/m³; city AQI 301 (Nov 11). CPCB notes monitors cap at 1,000 µg/m³, causing data gaps. Episodic bursts, low mixing heights trap smoke; estimates uncertain

India’s DGFT has immediately prohibited export of waste/scrap of primary cells, batteries and accumulators, including lithium-ion “black mass,” shifting policy from Free to Prohibited. With transition provisions, the move aims to boost domestic recycling and secure critical minerals.

Nvidia CEO Jensen Huang admitted an affair; the board is probing possible foreign intelligence targeting but backs him and expects no change. The episode spotlights succession: candidates include CFO Colette Kress, data‑center chief Ian Buck, cofounder Chris Malachowsky.

IndiGo extended its Saudi Arabia flight suspension: Jeddah and Madinah until Nov 21, 2026, and Riyadh and Dammam until Nov 30, 2026, citing security risks amid Houthi-Saudi tensions and an Aramco-targeted attack. Affected passengers get rebooking/refunds. Air India and Akasa also adjusted.

IPL 2027 trade shock: MI swap captain Hardik Pandya to PBKS for pacer Arshdeep Singh. Both at INR 18 crore (Hardik up from 16.35). Ends Arshdeep’s 8-year PBKS stint; MI face a captaincy vacancy with Rohit Sharma a candidate. Pandya likely under Shreyas Iyer.