Archives June 2025

By-Sakshi Gupta, Principal Economist, HDFC Bank

The RBI delivered a surprise monetary bonanza today. The frontloading of the 50bps rate cut along with the 100bps cut in the CRR reflects the central bank’s endeavour to do what it takes in order to spur aggregate demand in the face of global headwinds. The RBI kept its growth forecast unchanged at 6.5% while reducing its inflation forecast to 3.7% for the year. Today’s decision should help accelerate the decline in borrowing costs for households and help support credit demand in the economy.

 That said, looking ahead, the change in stance to neutral from accommodative perhaps indicates that the RBI could now go on pause for the foreseeable future. The central bank is likely to turn data dependent, and any further rate cut could come in only if growth surprises on the downside materially. It is likely that we see no further rate cuts in the repo rate for 2025 now.

Chennai, June 6, 2025 — The Indian Institute of Technology Madras (IIT Madras), through its Centre for Outreach and Digital Education (CODE), has announced a strategic collaboration to enhance the academic experience of students enrolled in its Bachelor of Science (BS) Degree in Data Science and Applications. As part of this initiative, AI-powered educational tools will be deployed to support scalable, personalised learning experiences for its BS degree students across the country. This initiative reflects CODE’s ongoing mission to make high-quality education accessible and scalable for learners across India.

The rollout follows a successful pilot with 500 students earlier this year and is being executed in partnership with Scaler School of Technology (SST)—an undergraduate CS program recognised for its applied pedagogy and in-house AI engineering capabilities. These tools support students with interview preparation, coding practice, conceptual clarity, and real-time feedback loops.

Prof. Andrew Thangaraj, Chair of COE, IIT Madras, commented, “Our mission is to make quality education accessible at scale. Technology, when applied thoughtfully, can play a crucial role in making that happen. The AI tools being deployed are designed to supplement our existing academic framework and help learners gain confidence, receive faster feedback, and practice skills independently”

Abhimanyu Saxena, Co-founder, Scaler, added: “We’re honoured to support IIT Madras in its vision for tech-enabled learning. Our work at SST focuses on solving real-world classroom problems through AI-led systems, built in collaboration between students and practitioners. This collaboration allows those innovations to benefit thousands of learners across India”

Scaler’s contribution draws from its AI research and engineering efforts within its residential four-year undergraduate program, the Scaler School of Technology (SST). Several SST students, under the guidance of senior engineers, were involved in developing key features of the Companion tools.

The MoU, signed on June 2, 2025, is valid for one year with the option for extension. The tools will carry appropriate attribution to Scaler School of Technology, while IIT Madras retains control over data privacy and student engagement policies.

By- Mr. Ashwani Dhanawat, Executive Director & Chief Investment Officer, Shriram General Insurance Limited

“The significant 50 basis points cut in the repo rate, shows RBI’s focus to spur economic growth. This is the third consecutive rate cut by the central bank in 2025. The committee has signalled a recalibrated approach by shifting its policy stance from ‘Accommodative’ to ‘Neutral’, amid evolving economic dynamics.

Also, another major move to enhance liquidity in the banking systems and stimulate credit growth is a cut in CRR by 100 bps, from 4% to 3%. These decisions come at a time when retail inflation  is at 3.16% is lowest since July 2019  and gives the central bank room to support economic momentum.

The increased liquidity and push for economic growth could also stimulate demand for insurance products as businesses expand and consumers have more disposable income.”

“The higher than, expected 50 bp Repo cut, the 100 bps CRR cut trajectory and the change of stance to neutral, has given definitiveness to the Banking System on the monetary stance. The expectation is that the reduced rates and the promise of sufficient liquidity should facilitate faster transmission to the real economy. It is now to be seen how the Credit markets pick up and the demand offtake happens to ensure this transmission happens.”

By-Mr. Umesh Revankar, Executive Vice Chairman, Shriram Finance

“The Monetary Policy Committee announcement reflects a well-calibrated and optimistic approach to India’s evolving economic landscape. The decision to reduce interest rates is encouraging, especially as it comes on the back of strengthening macroeconomic indicators, early signs of a sectoral revival, and a promising monsoon forecast expected to lift agricultural output and rural consumption. Together, these factors point to a broader recovery in the economy. At the same time, the MPC’s shift from ‘accommodative’ to ‘neutral’ stance indicates a measured and prudent outlook by the RBI, especially in an environment where domestic demand remains robust and several key sectors are showing resilience.

 

For consumers, lower interest rates will ease borrowing costs, reduce EMIs, and improve access to credit. This is likely to have a direct impact on consumer confidence and spending. For NBFCs that operate extensively in tier 2 & tier 3 towns, this policy move opens up new momentum for credit-led expansion. The broader implication of this rate cut cycle is significant as it reflects a forward-looking strategy that is aligned with India’s vision for inclusive and sustained growth. As highlighted by the RBI Governor, this brings the country a step closer to the goal of Viksit Bharat 2047. With rural resilience and continued expansion in services, both urban and rural consumption are poised to become strong drivers of India’s next growth phase.”

Hyderabad, June 06, 2025: DSP Mutual Fund announced the launch of two new index funds, DSP Nifty IT Index Fund and DSP Nifty Healthcare Index Fund. These funds aim to provide investors with a strategic way to participate in sectors known for their resilience compared to broader equity markets.

Defensive sectors such as Information Technology (IT) and Healthcare have historically exhibited low beta relative to the broader equity market, meaning they are less affected by market downturns, economic crises, or geopolitical events. For instance, during the Global Financial Crisis (Jan – Oct 2008) and the Covid-19 pandemic (Jan – March 2020), Nifty Healthcare and Nifty IT indices outperformed the broader Nifty 500 Index by experiencing lower drawdowns and quicker recoveries.¹

These sectors benefit from diversified global revenues, which reduce their dependence on domestic economic cycles.  To put this in context of numbers, ~ 96% of total revenues for the companies in Nifty IT Index come from various global markets other than India.² Similarly, ~ 52% of total revenues of companies in the Nifty Healthcare Index comes from global markets. In contrast to these numbers, for companies in the Nifty 50 Index we see only ~ 25% of revenues coming from global markets.³

The DSP Nifty IT Index Fund aims to replicate/track the Nifty IT Index and would be investing in the top 10 IT companies by free float market capitalization. The Indian IT sector has demonstrated smooth earnings growth with relatively low earnings variability, which helped to reduce earnings surprises. Over the last 12 years, the Nifty IT index has delivered consistent earnings growth, outperforming many other sectors. While the IT sector has underperformed the broader market in recent years⁴, historical cycles suggest potential for a turnaround, making this an opportune moment for investors to consider sector-focused exposure.

The DSP Nifty Healthcare Index Fund seeks to replicate/track the Nifty Healthcare Index and would be investing in the top 20 Healthcare companies by free float market capitalization. India’s healthcare market capitalization as % of total market capitalization is one of the lowest compared to developed and emerging markets. This may present significant growth potential as India’s healthcare infrastructure, insurance penetration, and medical innovation continue to expand.

The New Fund Offer (NFO) period for both funds will be open from June 2 to June 16, 2025.

“The launch of the DSP Nifty IT Index Fund and DSP Nifty Healthcare Index Fund offers investors a balanced approach to participate in sectors that combine growth with resilience. In uncertain market environments, defensive sectors like IT and healthcare have seen lower drawdowns, with the potential to deliver attractive returns.” said Anil Ghelani, CFA, Head of Passive Investments & Products at DSP Mutual Fund.

“By strategically including low-beta sectors such as Information Technology and Healthcare, investors can construct a more resilient and efficient portfolio, which may help them optimize returns and effectively manage market risk. Defensive sectors are currently underrepresented in broader indices, and history shows that when underweight, sectors like IT and Healthcare tend to outperform the market over the following year. Our disciplined passive management approach aims to closely track these sectors, helping investors capture structural growth with lower volatility,” said Gurjeet Kalra, Business Head – Passive Funds, DSP Mutual Fund.

Bengaluru, 06 June 2025 – White-collar hiring in India is showing strong momentum, with a 2% month-over-month (MoM) and a significant year-over-year (YoY) growth, according to the latest foundit Insights Tracker—a monthly report by the job platform foundit (formerly Monster APAC & ME). Leading this surge is the Consumer Electronics sector, which saw a remarkable 70% YoY spike, while the Logistics & Transportation sector fueled MoM growth with a 5% uptick. Senior Management roles emerged as a key focus area, registering the highest YoY growth at 36%, signalling robust leadership hiring. Among cities, Mumbai stood out with the strongest YoY growth at 23%. These trends reflect growing sectoral resilience, innovation, and a strategic push towards long-term, sustainable workforce development.

“The consistent rise in white-collar hiring reflects India’s shifting economic landscape and the growing demand for skilled talent,” said Anupama Bhimrajka, VP Marketing at foundit. “From leadership to entry-level roles, industries are showing resilience and agility, with metros leading the way and tier-2 cities quickly gaining ground. Encouragingly, diversity hiring has evolved into a strategic priority, with organisations embedding inclusion into core HR practices to drive meaningful representation for women, Persons with Disabilities, and other underrepresented groups.”

 Key Findings: Diversity & Inclusion Hiring Trends – May 2025

Over the past two years, diversity hiring in India has evolved from a compliance-driven mandate to a strategic workforce priority, growing by 53%. Women have seen the most significant gains, particularly in early-career and mid-level roles. Hiring for Persons with Disabilities (PwD) has also improved, albeit modestly, supported by more inclusive workplace designs. With structured DEI frameworks now widely adopted, diversity hiring is firmly embedded in mainstream HR strategies, driving sustained growth.

Steady Progress in Diversity Hiring Despite Temporary Slowdown

Despite positive year-over-year (YoY) growth, the month-over-month (MoM) change for May 2025 showed a slight decline of 2%, indicating a temporary slowdown in hiring momentum. However, this minor dip does not overshadow the consistent efforts and ongoing commitment to advancing diversity hiring over the past year.

MUMBAI, India– June 06, 2025: The battle for the crown reached its ultimate thrilling conclusion as Shubhankar aka Hectik emerged as the winner of Realme Hip Hop India Season 2 on Amazon’s free streaming service, Amazon MX Player. With judges Remo D’Souza and Malaika Arora at the helm, this season has been a true celebration of grit, individuality, and the boundless spirit of hip hop. With its growing popularity, the show has consistently ranked among the most-watched streaming originals every week, with its intense face-offs, raw talent, and unpredictable twists. Taking the finale to a crescendo were the lead artists of the upcoming flick, Metro…In Dino, Sara Ali Khan and Adtiya Roy Kapur, as they were present to cheer on the champions and promote the movie, slated to release on 4^th July 2025.

In a finale brimming with adrenaline and artistry, Shubhankar outshone formidable finalists Hitesh, Rule Breakerz, Aman-Kunal, and Lil Pool, each of whom brought their own signature styles to the stage. With his explosive energy and unmatched command over the KRUMP style, Shubhankar owned the stage and raised the winner’s belt in a moment that was nothing short of electric. Now with the trophy in hand, Shubhankar is looking beyond just dance stages. Determined to take krump to new spaces, he plans to explore new arenas— from reality shows to acting in films, theatre, and web series, paving the way for greater recognition of the genre and showcasing the limitless reach of his artistry.

Elated on being crowned as the winner, Shubhankar said, “My journey at Hip Hop India S2 has been incredible and something that I’ll never forget. Having Remo sir and Malaika ma’am guiding me throughout is something that will always be close to my heart. KRUMP taught me to move with purpose and speak without words. I’m grateful to everyone who saw that in me. Now it’s time to take KRUMP places it’s never been.”

Praising his journey, Judge Remo D’Souza shared, “Shubhankar brought a new language to the stage. His KRUMP performances weren’t just powerful, they were honest, intense, and unforgettable. That’s what hip hop is all about— channeling who you are into your art. Week after week, he performed like he had something to prove, and today he proved it to the entire nation.”

Judge Malaika Arora added, “From the very beginning, there was a fire in Shubhankar that you couldn’t ignore. His style, presence, and commitment to KRUMP made every performance a moment. He didn’t just perform, he told stories, and he made you feel magical. Watching him evolve the artist he is today has been truly inspiring—and I believe this is only the beginning for him.”

Sharing his thoughts, Aditya Roy Kapur said, “Realme Hip Hop India Season 2 has been such a cool glimpse into how far Indian hip-hop has come. Being part of the finale was a great experience — and seeing a true champion, full of passion.”

Adding to this, Sara Ali Khan shared, “The energy tonight at the finale of Realme Hip Hop India Season 2 was phenomenal! Every performer brought their best to the stage, I am inspired by their fearlessness and ability to express themselves in such a bold and courageous manner. Congratulations to Shubhankar and to Amazon MX Player for yet another successful season of the show.”

Don’t miss a beat of Realme Hip Hop India Season 2, as the entire season is now available to stream on Amazon MX Player, accessible on the Amazon Shopping App, Prime Video, Fire TV, and Connected TVs.

Chandigarh, June 06, 2025: Shree Cement Limited, one of India’s leading cement producers, has join hands with the Rajasthan State Pollution Control Board (RSPCB) to launch a network of Plastic Waste Collection Centres in Jaipur. Launched on 5th June, the initiative aims to create a sustainable and scalable model for managing plastic waste in urban areas. Aligned with the World Environment Day 2025 global theme, “Ending Plastic Pollution,” it marks the first initiative of its kind by RSPCB to involve industry in developing a model solution for plastic waste management in the city.

The initiative aims to create a sustainable model for urban plastic waste management in the state. The four centres will serve as collection hubs for gathering plastic waste, which will then be transported to Shree Cement’s integrated cement plants in Ras, Beawar and Nawalgarh for co-processing. This method involves using non-recyclable plastic waste as an alternative fuel in cement kilns—a scientifically recognised and environmentally responsible disposal method.

Mr. Neeraj Akhoury, Managing Director, Shree Cement, said, ““At Shree Cement, we believe in turning commitment into action. With this initiative, RSPCB empowers us to support Rajasthan’s environmental goal by developing practical, scalable solutions to tacke the critical challenge of plastic waste in the cities. Together, we are working towards a more sustainable and responsible future. ”

Under this initiative, Shree Cement will operate and manage plastic waste collection centres. RSPCB will lead public awareness efforts, local engagement, and facilitate operational support. The initiative is part of Shree Cement’s Corporate Social Responsibility (CSR) programme and reflects the company’s continued focus on sustainability and environmental stewardship.

This initiative not only contributes to better waste management practices but also enhances Shree Cement’s engagement with local communities and regulatory bodies, reinforcing its role as a socially responsible and sustainability-driven organisation.

The successful conclusion of the second edition of PHDCCI’s business delegation to Taiwan led to opening of another fruitful chapter in Indo-Taiwan economic relations.  The delegates were from diverse sectors like plastics, chemicals, electricals, technology, education, and tea, aiming to explore fresh opportunities for trade and investment collaborations visited Taiwan from June 1st to 5th, 2025.

One of the key highlights of the delegation was the meeting with Mr. Manharsinh Laxmanbhai Yadav, Director General, India-Taipei Association (ITA) Led by Shri. Shreyansh Jain, Leader Sustainability Centre of PHDCCI & Director Sperry Plast. The engagement provided an important diplomatic and strategic perspective to the delegation’s week-long visit.

The Director General commended the efforts of PHDCCI and the participating Indian companies in building strong economic and industrial linkages with Taiwan and shared that Taiwan is keen to deepen its business and trade engagement with India beyond the semiconductor sector, where players like Foxconn and PSMC have already made headway. He encouraged greater collaboration in petrochemicals, electronics, technology, biotechnology, education, construction, sustainable manufacturing  and recycling and assured full support of ITA in Indian industry’s endeavours. He also showed interest in soon inviting a few Indian companies from the delegation, such as Sperry Group and KLJ Group to present detailed proposals to Taiwanese stakeholders.

Another key highlight of the visit was the “100-year celebration of Indian Tea in Taiwan” at a special event hosted at the Grand Hyatt, Taipei. The DG, India Taipei Association had hosted the event, which was attended by Taiwanese tea importers, Indian and Taiwanese diplomats, and key stakeholders from both nations.
PHDCCI delegates, Indian tea exporters, showcased premium teas and engaged in B2B meetings with Taiwanese tea importers.

The five day visit included the insightful academic and innovation-focused exchanges at Yuan Ze University and Amaran Biotechnology, followed by visits to National Tsing Hua University, ITRI, and an engaging tour of the original TSMC facility which offered a close look at Taiwan’s leadership in high-end technology and R&D.

This was followed by productive discussions at the Importers and Exporters Association of Taipei (IEAT), including the possibility of signing an MoU with PHDCCI during IEAT’s future visit to India. And industry visits to Foxconn’s facility, gaining valuable insights into its operations and exploring potential collaborations in electronics and supply chain management.

PHDCCI’s business delegation included, Mr. Shreyansh Jain, Director Sperry Plast; Mr. Manish Juneja, CEO,Electrical Industries; Mr. Vinod Kumar, Director, KLJ Group; Mr. Himanshu Soni, Director, Nirma University; Mr. Vikas Chakravarty, Director, RT Vision Technologies Pvt Ltd; Ms. Roopal, Director, RT Vision Technologies Pvt Ltd; Mr. Amit Jain, Director, Ingenium Infrastructure; Mr. Heman Shah,  Partner/ Director, Shah Brothers; Mr.Amit Dalan, Sr. VP, Jayshree Tea & Industries Ltd; Ms. Aparajita Mangotra,Sr. Secretary, PHDCCI and Mr. Jatin Nagpal, Joint Secretary, PHDCCI

Overall, the delegation opened new doors for collaboration in education, technology, innovation, and trade. The visit was not only productive but also reaffirmed the strong potential for deeper business ties between India and Taiwan.