INDIAN IT FIRMS
Railways suspends Jupiter-Kovis JV for faking localisation
Indian Railways discovered that JWL Kovis, a joint venture, falsified localisation claims in a Modern Coach Factory brake disc tender. Despite claiming 90% local content, the company imported brake disc castings. Consequently, the Railway Board debarred JWL Kovis for six months due to the false certificates, with the ban effective from September 20, 2025.
Nothing sees India as next China, expands local push
Nothing, the UK-based smartphone maker, is bullish on India, viewing it as both a key consumer market and a manufacturing hub. Experiencing rapid growth, it plans to expand wearables production in India and has relocated its global marketing function to the country.
India & China should firmly oppose any form of tariff and trade wars, Xu Feihong calls 50% tariff 'unfair'
China's Ambassador to India, Xu Feihong, advocates for India and China to oppose trade wars. He emphasizes upholding the multilateral trading system. Feihong highlights improved India-China trade relations, noting a 10.5% increase this year. Diplomatic efforts include visa issuance and resumed pilgrimages. Both nations are working towards peaceful coexistence. They aim to contribute to global peace and development.
Equirus Capital sees strong growth across Indian real estate segments
Equirus Capital highlighted strong momentum in India’s real estate sector, with robust growth across residential, commercial, and hospitality. Bengaluru emerged as a global hub, offering affordable office rentals, cost-effective workforce, and the highest commercial space absorption worldwide.
Can this American bill topple India's showpiece industry?
The proposed US HIRE Act threatens India’s $250bn IT sector, targeting outsourcing with a 25% tax on payments to foreign firms. While still unlikely to pass, it signals rising protectionism and populist rhetoric under Trump-aligned Republicans. Indian IT services and GCCs, heavily dependent on US clients, face real risks, prompting a need for market diversification and domestic growth.
Tata Steel shares jump 3% to hit fresh 52-week high on strong sector tailwinds, brokerage optimism
Tata Steel shares surged to their 52-week high on Monday, banking on strong sector tailwinds, including India’s extended safeguard duty, China’s production curbs, and positive brokerage views. Morgan Stanley upgraded the stock to Overweight with a Rs 200 target, citing favourable demand and pricing trends.
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ACME Solar Holdings places order of 2 GWh Battery Energy Storage System
ACME Solar Holdings has ordered 2 GWh of Battery Energy Storage System (BESS) from Chuzhou Lishen New Energy Technology, facilitated by POSCO International and China FAW Group. This order, to be delivered over 6-10 months, will support ACME's FDRE and standalone BESS projects. With this purchase, ACME's total BESS procurement exceeds 5 GWh, ensuring timely project commissioning.
Global impact investor Accion closes $61.6 million second fund, aims to allocate 30% to Indian startups
This is the second fund for Accion Venture Lab, which has invested in Indian fintech startups such as MSME lending company Aye Finance, consumer lending startup Olyv (previously Smartcoin), and fintech infrastructure startup Transbnk, among others.
Meta hiring US-based contractors to build Hindi AI chatbots: Report
Applicants are required to be fluent in Hindi, Indonesian, Spanish, or Portuguese, and must have at least six years of experience in storytelling, character development, and familiarity with AI content workflows.
IT Inc worries as US may slap tariffs on software exports
India's IT sector faces potential US tariffs on software exports, threatening its largest market and impacting firms already struggling with global uncertainty and AI-driven automation. The proposed tariffs could lead to double taxation and increased costs due to visa restrictions, potentially harming the growth of India-based service providers and GCCs, while raising delivery costs.
Closely engaged with Canberra: MEA on anti-immigrant protests targeting Indians in Australia
India is actively addressing anti-immigrant campaigns in Australia targeting its diaspora. Protests across major Australian cities prompted engagement between Indian missions and Canberra. The Indian High Commission raised concerns before the protests, receiving assurances from the Australian government. Australian leaders have affirmed their support for multiculturalism and acknowledged the Indian community's contributions.
Trump's advisor Navarro needles India once again
Peter Navarro, trade advisor to Donald Trump, is stirring controversy by supporting tariffs on foreign remote workers, potentially impacting India's IT services exports. This move resonates with Trump's "America First" agenda, targeting Indian tech workers and outsourcing. While formal tariffs may be challenging, non-tariff barriers could be employed, posing a threat to India's $250+ billion IT industry.
Cognizant drops use of logo in India after Bombay HC order
Cognizant has removed its logo from major social media platforms after the Bombay High Court reinstated a ban in a trademark dispute with Bengaluru-based fintech Atyati. The court ruled that Cognizant cannot use the logo in India until the case concludes. Atyati claims Cognizant copied its 2019 logo design.
US scrutiny on H-1B visas: MEA stresses mutual benefits of India-US mobility
India has defended the H-1B visa program amid growing US scrutiny over alleged misuse. MEA Spokesperson Randhir Jaiswal emphasized the mobility partnership's importance to technology, economic collaboration, innovation, and financial cooperation between the two nations. This response follows US probes into discrimination and concerns that Indian IT firms are leveraging the system to hire lower-cost workers, prompting calls for reforms.
Closely monitoring situation, says Tata Group-owned Indian Hotels on malware incident
Indian Hotels Company Limited (IHCL), the largest hospitality company in India, has reported a malware incident affecting some of its IT systems. Immediate steps were taken to contain the impact and secure the systems, and relevant authorities have been notified. IHCL and its subsidiary, Benares Hotels, are closely monitoring the situation while maintaining normal business operations.
Sebi ramped up Jane Street probe due to inadequate data, continued complaints: Reports
India's markets regulator launched a formal investigation into Jane Street's trading practices even though its surveillance department had recommended otherwise, due to continued complaints from market participants, two sources with direct knowledge of the matter said.
$7 billion profit! Wall Street trader who milked crores from India turned Trump tariffs into a fortune
Jane Street posted Q2 2025 profits of $6.9 billion on revenues of $10.1 billion, fueled by Trump’s tariff-driven market volatility, outpacing major US banks.
Festive cheer with GST 2.0; Amazon’s $200 million NBFC bet
Happy Friday! Ecommerce is expected to win big this festive season on the back of new GST relief. This and more in today’s ETtech Morning Dispatch.
‘Intermediary’ clause removal unlocks export benefits for IT services, GCCs
India's outsourcing and technology support services, including GCCs, receive a major boost as the GST Council removes the location provision for intermediary services, resolving a decade-long dispute. This omission eases compliance, unlocks working capital, and reduces litigation for IT, ITeS, and e-commerce companies. The move enhances the global competitiveness of Indian service providers by allowing them to claim export benefits.
Mizuho’s India deal with Avendus is said to stall on valuation
Mizuho Financial Group's attempt to acquire a majority stake in Avendus Capital has encountered obstacles due to disagreements over valuation and KKR's exit strategy. Despite the current challenges, negotiations are still in progress, with both parties striving to finalize the deal. This potential acquisition follows Sumitomo Mitsui's investment in Yes Bank, highlighting Japanese lenders' growing interest in the Indian market.
Multibillion-dollar deals fuel pickup in India's mergers & acquisitions activity
Mergers and acquisitions in India are increasing. Cross-border deals and private equity funds are driving this growth. M&A volume has reached nearly $41 billion in 2025. Several major acquisitions have occurred recently, including Tata Motors' acquisition of Iveco Group's business. Private equity activity is at its highest. Local players are also increasingly active in M&A.
You will make 12-15% CAGR but don’t invest for 5-6 month horizons: Raamdeo Agrawal
Raamdeo Agrawal of Motilal Oswal Financial Services advises long-term investment in Indian equities, projecting 12-15% annual growth. He cautions against short-term expectations and suggests staggered investments amid market volatility. Agrawal urges GST rationalization and opening tourism and education sectors for economic stimulus.
Small and mid-cap firms lag behind large caps in Q1 earnings show
An ETIG analysis reveals that small and mid-cap firms underperformed large caps in the June quarter, with profit growth hitting multi-quarter lows. Large caps saw improved profit and sales growth, maintaining stable profit margins, while smaller firms experienced declines.
Invenia expects to grow revenue to Rs 2,000 crore in three years: Vice Chairman
Invenia, a digital infrastructure and IT services firm, anticipates a 40% revenue increase. The company projects revenue to reach Rs 2,000 crore in three years. This growth will be fueled by data center connectivity and government projects. Invenia's order book is strong, valued at Rs 4,250 crore. The company will focus on system integration, cybersecurity, and managed services.
New $1 billion alliance formed to strengthen US-India deep tech ties
Eight US and Indian VC and PE firms have formed the India Deep Tech Investment Alliance, pledging over $1 billion to early-stage Indian deep tech startups over the next decade. The alliance supports funding, mentorship, and network access, though US-India trade tensions could complicate long-term cooperation in the sector.
JPMorgan to boost corporate banking in India on investment jump
JPMorgan's focus is on electric vehicles, data centers and solar energy sectors. These industries are increasing capital spending. JPMorgan sees India and Japan as its fastest-growing Asian markets. The bank expects continued growth despite tariff concerns. They aim to grow revenue by 30% annually. The expansion includes increasing domestic headcount.
NCDEX raises $88 million ahead of equity foray: CEO
India's National Commodity and Derivatives Exchange (NCDEX) has raised $87.99 million from global trading firms and domestic brokers as it plans to launch equity offerings within the next twelve months, its chief executive said.
Indian IT firms' reliance on it fell over years; are less vulnerable: Mohandas Pai on H-1B concerns
Amidst US scrutiny of H-1B visas, Mohandas Pai, former Infosys CFO, has asserted that Indian IT firms' reliance on these visas has significantly decreased. He highlighted data showing major American tech companies are now among the top applicants.
TCS shares in focus as IT major sets up new AI transformation unit
Tata Consultancy Services (TCS) has formed a dedicated artificial intelligence (AI) and services transformation unit, consolidating its AI capabilities to deliver domain-specific solutions and accelerate innovation across industries. Amit Kapur, who previously headed TCS’s UK and Ireland business, will lead the unit from September. The move underscores TCS’s push to place AI at the core of its growth strategy.
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