🚗 Delhi's smog no more

Good morning and happy Friday. Incase you were wondering, there are 7 Saturdays till the New Year.

- Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

• 🚗 Delhi's smog no more

• 💻️ India’s IT spending surge

• 🗞️ Bite-sized summaries

  • 🛒 Q-commerce companies violate the rules?

  • 🤝 Reliance, Viacom, and Disney complete merger

  • 🛍️ Amazon launches Shein competitor

• 🧑‍🍳 What else is cookin’?

• 🍿 Entertainment, Entertainment, Entertainment

MARKETS

🇮🇳 India

• Stock market movement was mixed. FMCG, power, PSU banks, and oil & gas sectors declined, while auto, media, and realty sectors gained. Eicher Motors and National Aluminium Company (NALCO) were top gainers, driven by strong quarterly results.

🌍️ International

• Wall Street's major indexes ended lower on Thursday after Federal Reserve Chair Jerome Powell tempered investor expectations for an interest rate cut this year, stating that the central bank does not need to hasten the easing of monetary policy. Investors now await December's Fed meeting for potential policy changes.

CLIMATE

🚗 Delhi’s smog no more

Delhi’s air quality crisis has prompted the implementation of Stage 3 of the Graded Response Action Plan (GRAP) as pollution levels hit “severe” levels. Effective from November 15, these emergency measures include:

• Ban on construction and demolition to control dust pollution.

• Restriction on inter-state buses to only allow electric, CNG, and BS-VI diesel vehicles.

• Shift to online classes for students up to Class 5 to limit exposure to harmful air.

• Suspension of mining activities and increased road water sprinkling to curb particulate matter.

Additional restrictions will apply to BS-III petrol and BS-IV diesel vehicles across Delhi-NCR.

Overall: Despite these strict measures, the Delhi government initially opted against GRAP-III due to potential weather improvements.

Still, the Commission for Air Quality Management later mandated it to address the thick smog covering the capital. With an Air Quality Index (AQI) peaking at 425, officials are now working to mitigate health risks during this “episodic event” linked to post-Diwali pollution and dense fog.

Read more: Economic Times

GEN AI

💻️ India’s IT spending surge

In 2025, India’s IT spending is forecast to climb by 11.2%, reaching nearly $160B, driven by software and IT services.

Following a recovery from a slight decline in 2023, the software is set to be the star, with anticipated growth of 17% as businesses ramp up investments in both application and infrastructure software. Data centres and devices, while slower, will still see steady growth.

One major trend: The rise of Generative AI (GenAI).

• Indian companies are expected to dedicate around 6.5% of their IT budgets to GenAI as they move from proofs of concept to real-world applications.

• Yet, enthusiasm for GenAI may cool somewhat, with more CIOs tempering their expectations for immediate transformative impact.

• GenAI is also set to reshape the workforce, potentially automating up to 6.1% of jobs by 2025, and sparking an 18% productivity boost over the next year.

• Additionally, sectors like cybersecurity and data analytics are poised for significant spending increases as companies brace for the future.

Overall: With GenAI tools commanding a premium, organisations will likely see a mix of successes and setbacks. Over time, leaders who make strategic GenAI investments may see disruptive gains, while others may adopt a steadier pace.

Read more: Economic Times

GENERAL OVERVIEW

🗞️ Bite-sized summaries

🛒 Q-commerce companies violate the rules? - The Confederation of All India Traders (CAIT) has accused quick commerce platforms like Blinkit, Instamart, and Zepto of violating regulations by misusing Foreign Direct Investment (FDI) to dominate supply chains, control inventory indirectly, and fund deep discounts. CAIT claims these practices have unfairly pushed traditional Kirana stores out of the market, capturing up to 30% of the market share. Alleging FDI violations and a lack of transparency, CAIT calls for stricter government oversight. A recent survey indicates quick commerce could take $1.28 billion in sales from Kiranas in 2024, with nearly 67% of Kirana stores reporting a sales decline.

🤝 Reliance, Viacom, and Disney complete merger - Reliance Industries Limited (RIL), Viacom18, and Disney have finalised a merger, combining Viacom18’s media and JioCinema businesses with Star India, creating a joint venture valued at approximately ₹70,352 Cr. (~$8.5B). The venture unites prominent brands like Star, Colors, JioCinema, and Hotstar, with a significant TV and digital content portfolio. Chaired by Nita Ambani, the JV aims to strengthen Indian media and digital streaming, with Kevin Vaz, Kiran Mani, and Sanjog Gupta leading entertainment, digital, and sports divisions respectively. This consolidation includes Reliance’s acquisition of Paramount’s Viacom18 stake, marking a strategic expansion in Indian entertainment.

🛍️ Amazon launches Shein competitor - Amazon launched "Amazon Haul," a discount storefront in its mobile app, to compete with Temu and Shein. This new feature offers a wide range of items—apparel, home goods, electronics—priced under $20, with "crazy low prices" on items like $1 eyelash curlers and $3 nail dryers. Orders over $25 get free shipping, while others incur a $3.99 fee. Amazon Haul delivers within two weeks, slower than Amazon's usual offerings, as items ship directly from China. This strategy targets bargain-seeking shoppers and aligns Amazon’s business model with its competitors. Returns are not accepted on items priced $3 or less.

HEADLINES

🧑‍🍳 What else is cookin’?

What’s happening in India (and around the world 🌍️)

• Blackstone eyes 20% minority stake in Haldiram’s.

• Delhi shuts all primary schools as hazardous smog worsens.

• FBI raids home of Polymarket CEO Shayne Coplan.

• Spotify takes aim at YouTube in battle for podcasts.

• Kraft Heinz bets big on Lunchables in schools. It didn’t work.

• Mapping the ionosphere with the power of Android.

• Klarna files long-awaited plans for American IPO.

CULTURE

🍿 Entertainment, Entertainment, Entertainment

• Cameron Diaz is SO BACK! Netflix’s Back in Action teaser trailer out now.

• AR Rahman earns two HMMA 2024 noms for Prithviraj Sukumaran's Malayalam movie Aadujeevitham: The Goat Life.

• Monaco agrees extension to host F1 until 2031.