✈️ India's aircraft ambitions

Good morning. Happy Friday.

A man has been sentenced to prison for orchestrating a $122M scam that deceived both Google and Facebook into making payments for fake invoices.

You can either read more about this or wait for the inevitable documentary on Netflix when it arrives.

- Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

• ✈️ India's aircraft ambitions

• 🎭️ Facial recognition

• 🗞️ Bite-sized summaries

  • 💰️ Blinkit BNPL

  • Nvidia 🤝 India

• 🧑‍🍳 What else is cookin’?

• 🍿 Entertainment, Entertainment, Entertainment

MARKETS

🇮🇳 India

• The Nifty index has declined for four consecutive days, down 1.8% for the week, struggling to maintain levels above 24,500. Key FMCG stocks like Hindustan Unilever and ITC led the downturn, while broader market confidence remains shaky. Analysts suggest any upward movement may be temporary, advising caution until a decisive recovery above 25,000 occurs. Foreign institutions continued net selling, exceeding $10B in October.

🌍️ International

• More greens than reds yesterday. Investor sentiment improved as economic data suggested resilience amid ongoing geopolitical tensions and interest rate concerns. Analysts remain cautious but optimistic, noting potential for recovery in equity markets as they adjust to changing conditions and seek opportunities for growth.

MANUFACTURING

✈️ India's aircraft ambitions

India is making significant strides in its aviation sector, aiming to manufacture aircraft locally with the assistance of global aerospace firms, particularly Airbus.

Civil Aviation Minister Ram Mohan Naidu emphasised the need for local design and manufacturing capabilities to meet the projected demand for 8,000 aircraft over the next two decades. Currently, India operates around 800 planes, including both scheduled and non-scheduled operators.

The government has passed the Bhartiya Vayuyan Vidheyak Bill 2024, which facilitates regulations for aircraft design and manufacturing, aligning with the Atma Nirbhar Bharat initiative.

While state-owned Hindustan Aeronautics Limited (HAL) is already producing small civilian planes, Airbus is expanding its presence in India by manufacturing military transport planes and civil helicopters.

• Airbus CEO Guillaume Faury noted that establishing a final assembly line in India is not a limiting factor; rather, the challenge lies in ensuring a robust supply chain for large equipment.

• To support this growth, Airbus has initiated training programs, including setting up simulators for A320 aircraft and planning additional facilities to prepare a skilled workforce.

Overall: As India's aviation market continues to expand rapidly, with over 1,200 planes on order from major carriers like IndiGo and Air India, the focus on local manufacturing and training infrastructure is crucial for sustainable growth in the sector.

Read more: Economic Times

GENERAL OVERVIEW

🗞️ Bite-sized summaries

💰️ Blinkit BNPL - Blinkit, the quick-commerce arm of Zomato, has introduced an EMI option for orders above ₹2,999, excluding gold and silver coins. This initiative, similar to e-commerce platforms, aims to make big-ticket purchases more affordable and boost spending. The move comes during the festive season, as quick-commerce platforms expand product offerings to include apparel and lifestyle items, driving higher usage. Blinkit also launched a 10-minute return feature for footwear and clothing in major cities. Competitor Zepto has introduced postpaid payment options, emphasizing the role of flexible payments in enhancing customer experience.

Nvidia 🤝 India - During his India visit, Nvidia CEO Jensen Huang announced several key partnerships with Indian tech giants, including Tata Consultancy Services (TCS), Infosys, and Reliance Jio, to advance AI infrastructure and solutions. TCS launched a Nvidia Business Unit to accelerate AI adoption across various sectors, while Zoho and LTTS also unveiled AI initiatives powered by Nvidia platforms. Tech Mahindra established a Center of Excellence focused on large language models and AI advancements. Tata Communications introduced an AI Cloud infrastructure in collaboration with Nvidia. These collaborations align with India’s growing prominence as a global AI and innovation hub.

HEADLINES

🧑‍🍳 What else is cookin’?

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

• India wants to manufacture aircrafts and Airbus has a role to play: Civil aviation minister.

• Aadhaar card not a valid document to determine age: Supreme Court.

• Apple sharply scales back production of Vision Pro.

• Applications to M.B.A. programs rise as interest in going back to business school hits a level not seen in a decade.

CULTURE

🍿 Entertainment, Entertainment, Entertainment

• Allu Arjun Confirms Pushpa 2: The Rule new release date of 5th Dec’24.

• New parents Kaley Cuoco, Chris Messina are still true-crime obsessives in Based on a True Story season 2 trailer.

• 2nd Test: India suffer early blow after Washington Sundar's masterclass against New Zealand on Day 1.

• India women's cricket team beat New Zealand by 59 runs in the first of three ODIs.