Tata Power is preparing to finalise a 10 GW wafer and ingot project, estimated at INR 6,500 crore, by January next year. The company is in discussions with multiple states, including Odisha, Tamil Nadu, and Andhra Pradesh, evaluating policies and incentives before deciding the site. The plant will complete Tata Power�s solar manufacturing integration, covering wafers, ingots, cells, and modules. The company, with a diversified 15.9 GW portfolio in thermal, solar, and wind, is also exploring entry into nuclear energy through small modular reactors (SMRs).Read more

SIMEST, a CDP Group company supporting the global expansion of Italian businesses, has signed a Memorandum of Understanding with the Indian Chamber of Commerce to strengthen economic cooperation between Italy and India. The agreement was formalised at the Italy–India Business Forum in Mumbai in the presence of senior leaders from both countries. The partnership aims to promote cross-border investments, industrial collaboration and business linkages, while supporting Italian companies entering the Indian market through financial instruments and advisory support. The MoU also focuses on sharing insights on investment opportunities, mergers, acquisitions and startups, reinforcing long-term trade and commercial ties between the two economies.Read more

Tamil Nadu has achieved double-digit economic growth driven largely by sustained infrastructure development and large-scale job creation, Finance and Environment Minister Thangam Thennarasu said in Chennai. Speaking at the inauguration of the Vels Trade and Convention Centre and Vels Film City in Poonamallee, he said infrastructure-led investments have strengthened the state's economy and generated direct and indirect employment. The minister highlighted the role of private sector participation in supporting growth, citing investments in convention, trade and film infrastructure. He noted that under Chief Minister M K Stalin's leadership, Tamil Nadu recorded 11.19 per cent growth, supported by projects that boost jobs, real estate activity and allied industries.Read more

The Uttar Pradesh government has announced that NAFED will soon operationalise 50 urad procurement centres across 17 districts, allowing farmers to sell their produce at the minimum support price of INR 7,800 per quintal. The initiative is being rolled out under NAFED's Aatmanirbhar Dal Yojana, which focuses on direct procurement from farmers and removes middlemen from the process. Purchases are expected to begin shortly and will continue until January 29, 2026. Payments will be credited directly to farmers bank accounts within three working days. Registration is mandatory and can be completed through the e-Samridhi app or NAFED centres.Read more

India and France have agreed on a major update to their three-decade-old tax treaty, introducing lower dividend tax for French companies with significant holdings in India while giving New Delhi wider authority to tax capital gains from French investors. The revised framework also removes France’s earlier most-favoured nation benefit, which had been a point of dispute after a key Supreme Court ruling. The changes aim to modernise the treaty, improve tax clarity and reduce litigation, while also addressing concerns around technical services taxation. The agreement is expected to be signed in the coming weeks once India’s cabinet clears it.Read more

Tata Steel has approved a series of expansion and backward-integration plans to strengthen capacity, secure raw materials and widen its downstream product range. The plan includes raising Neelachal Ispat Nigam Ltd's capacity to 4.8 MTPA, developing a new Thin Slab Caster and rolling facility at Meramandali, and setting up a 0.7 MTPA Hot Rolled Pickling and Galvanising Line in Tarapur. The company also finalised a 50.01% stake purchase in Thriveni Pellets, signed an MoU with Lloyd Metals & Energy for mining and steelmaking opportunities, and advanced work on its low-carbon HIsarna technology.Read more

Indian government bond prices rose after strong demand followed the RBI latest bond purchases and a global rally triggered by a US Federal Reserve rate cut. The 10-year benchmark yield eased to 6.61%, retreating from its highest level of the financial year. The RBI bought INR 500 billion worth of bonds at higher-than-expected prices and is set to conduct another similar purchase next week, supporting market sentiment. Global cues also helped, with US Treasury yields falling after the Fed 25-basis-point cut. Liquidity remains comfortable, though traders expect gradual tightening due to tax outflows. Overall, continued RBI support and global rate trends lifted demand for government securities.Read more

Indian government bonds strengthened as the RBI’s bond purchases coincided with a global boost from the U.S. Federal Reserve’s rate cut. The 10-year yield fell to 6.6122% from its recent high, reflecting rising bond prices. The RBI purchased 500 billion INR in bonds and plans a similar purchase next week, with the possibility of including the 10-year 2035 bond in open market operations. Banking system liquidity remained stable but slightly lower than last week, and Indian OIS rates also eased, indicating renewed investor demand for government securities.Read more

Adani Group plans to invest up to INR 12 lakh crore across India over the next six years, focusing on infrastructure, ports, mining, renewable energy and supporting technologies. Gautam Adani shared that the investment aligns with India’s drive for self-reliance and long-term growth. A major part of this plan includes the large renewable energy park coming up in Khavda, Gujarat, spread across 520 sq km and expected to generate 30 GW of clean power by 2030. The group also aims to strengthen its mining and materials business to support upcoming green-energy industries.Read more

Citi Research expects India's Nifty 50 to rise 10% by the end of 2026, driven by rising consumer demand, rural spending, and signs of urban recovery. Indian equities have underperformed other emerging markets in 2025 despite brief record highs in November. Analysts say subdued earnings, higher tariffs, and limited AI-related growth are easing, while stable inflation and resilient GDP growth are expected to support the market. Citi forecasts strong Nifty earnings, a USD 20 billion balance of payments surplus, and the rupee at 91 per U.S. dollar, with sectoral opportunities in banks, telecom, and autos.Read more