India Weekly Update from Tom Thomas

Volume1/Issue 34 - September 3rd 2021

· News from Scotland and Beyond

UBS MAINTAINS GDP GROWTH FORECAST FOR INDIA: Swiss Brokerage UBS maintains GDP Growth Forecast for India.

India progressing fast on FTA discussions with UK and other countries: Indian Commerce and Industry Minister Piyush Goyal says that India is making fast progress on FTA discussions with UK and other countries.

Land mapping: Indian Government efforts to facilitate Indian Industrial land Bank portals with updated information to help investors: The efforts by the Indian Government to update the Indian Industrial Land Bank portals with latest information on Industrial land availability will help Investors looking to set up projects in India.

Biggest deal in India’s Fintech space - Prosus buyout of Billdesk: The acquisition of payment aggregator Billdesk by Dutch internet giant Prosus for $4.7 Billion is one of the largest ever M&A Fintech deals in India.

"This investment by Prosus validates the significant opportunity in India for digital payments that is being propelled by innovation and the progressive regulatory framework put into place by the Reserve Bank of India" M N Srinivasu, Co-Founder Billdesk 

OFF-BEAT: HOSUR EMERGES AS A MANUFACTURINGHUB FOR E-SCOOTERS: The region of Hosur is fast emerging as the Detroit of India with regards to the manufacturing of Elecric Vehicles ( EVs), one of the largest projects being Ola’s mega e-scooter project.

Quote-Unquote

“We maintain our basecase estimate of India'sreal GDP growth at 8.9%YoY in FY22 (consensus: 9.2%). This largely reflects the rebound from deeper contraction in FY21 GDP (-7.3%YoY)” Tanvee Jain, UBS

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