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Indian banks are expected to have steady growth in earnings and returns over the next 3–4 years, according to a recent report by Jefferies. It expects a 13% compound annual growth rate (CAGR) in loan growth for banks between FY24 and FY27, helmed by a supportive environment and expected adjustments in interest rates. "We expect steady growth in earnings and stable returns, Over FY24-27, the banks we cover should see 13% CAGRin loans We factor 25-50 bps cut in rates, &amp; depending on timing, NIMs will move," the report said. Depending on the timing, these rate cuts could impact banks' <keyword id="20076541" type="General" weightage="20" keywordseo="net-interest-margins" source="keywords">net interest margins</keyword> (NIMs), which measure the difference between interest income generated and interest paid to depositors. The report also notes that banks' net interest income (NII), a critical metric that is reflective of how much a bank earns from its lending, could grow at a steady 12% CAGR, which would support overall earnings growth. <h2>Rate cuts probable next year</h2>Per SBI Mutual Fund's monthly outlook for November 2024, while markets were initially speculating possible rate reductions in December this year or February next year these chances now stand dampened due to two reasons. First, elevated CPI numbers in September, which stood at a nine-month high, underlined the stickiness of food inflation. Secondly, RBI governor Das recently highlighted his hawkish stance at a conference, stating that "rate cuts at this stage would be premature and risky’. The report further adds that February 2025, or even April, would be a better time to discuss repo rate cuts in India. Even <keyword id="19985925" type="General" weightage="20" keywordseo="bank-credit-growth" source="keywords">bank credit growth</keyword> has continued to outpace deposit growth for two years now. However, they seem to be inching closer in the recent past. For instance, in October 2024, while bank credit growth remained at 12.7%, the deposit growth rate followed closely at 11.8%. This also means that banks are witnessing an elevated bank credit-to-deposit ratio, standing at 77% in October. <h2>Risks in unsecured lending </h2>However, Jefferies noted some areas of caution that could influence growth in other revenue streams, particularly fees. Growth in fees may be at risk due to expected declines in the disbursal of unsecured loans, which generally carry higher interest rates and generate higher fees for banks. October saw stress and defaults rising in the unsecured lending space, prompting the RBI to intervene. As a result, unsecured loans by banks have only grown by 12.1%, the lowest since the pandemic. Despite these risks, the report expects banks' return on assets (ROA) and return on equity (ROE) to remain healthy, underscoring the sector's stable profitability potential. The report also highlights that while the Nifty Banks index has risen by 19% over the past year, it has still underperformed the broader Nifty index, which delivered 27% returns in the same period. BSE Bankex has been along similar lines, generating returns worth 19% over one year. While the Nifty banks' index has a YTD (yield to date) of 7.63%, it continues to trail Nifty's YTD of 11.30%

Indian banks to have steady growth in earning over next 3-4 years, fees from unsecured lending may dip, notes Jefferies report

<ul class="summary-list"><li><keyword id="23582686" type="General" weightage="20" keywordseo="tim-tully" source="keywords">Tim Tully</keyword> taught himself to code when he was six and went to school for computer science.</li><li>He started his career in software engineering at startups and later worked at Yahoo and Splunk.</li></ul>Venture capitalist Tim <keyword id="23582684" type="General" weightage="20" keywordseo="tully" source="keywords">Tully</keyword>'s programming experience began at age six, when he taught himself to write code and make video games on an Apple II computer. Fast-forward to the present: Tully has a data center in a basement and is known to deploy software and try out startups' APIs when he's sussing out potential investments. He's also written code for some of his portfolio companies. Using his technical expertise as a former programmer and CTO, Tully is helping amass an impressive portfolio of AI startups at <keyword id="23582685" type="General" weightage="20" keywordseo="menlo" source="keywords">Menlo</keyword> Ventures. The firm, which has backed Chime, Warby <keyword id="20325026" type="General" weightage="20" keywordseo="parker" source="keywords">Parker</keyword>, Roku, and Uber, has historically focused broadly on early and growth-stage startups across the consumer, enterprise, and healthcare sectors. More recently, Menlo has <a target="_blank" class="" href="https://www.businessinsider.com/menlo-ventures-naomi-ionita-investor-3-lessons-growth-saas-2020-12">planted its flag in the generative AI space</a> as frenzy in the sector is creating new <keyword id="19926959" type="General" weightage="20" keywordseo="opportunities" source="keywords">opportunities</keyword> for early-stage startups. The firm closed a <a target="_blank" href="https://techcrunch.com/2023/11/16/menlo-ventures-closes-on-1-35b-in-new-capital-targets-investments-in-ai-startups/?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAJVkFGzX14zh8oeHL-Sgmmj-ke1177qyd4BoL1N3eHbqg52MVVO8w7Q3RR0puoRkQ4EVSoyHdffSI5guxcbH9Yl6z1fudXp_WheLfxYB72QiEo_1inwN7UZNPAOLctyEfQ-jGLcCesRz0ajnDsJPg8AVE2iYArspH-l5HM_X7Pbp">$1.35 billion fund</a> last year specifically for investing in fledgling AI startups, and it's already been an early backer of AI powerhouses including vector database <a target="_blank" class="" href="https://www.businessinsider.com/chroma-weaviate-pinecone-raise-funding-a16z-index-vector-database-ai-2023-3">Pinecone</a>, LLM developer <a target="_blank" class="" href="https://www.businessinsider.com/researchers-at-anthropic-taught-these-ai-chatbots-how-to-lie-2024-1">Anthropic</a>, enterprise data cleaner Unstructured, conversational AI system Neon, automated data cleanup program Cleanlab, and many others. For Tully, one of Menlo's key check-writers in this space, having a background in computer science and operating experience has been necessary when it comes to evaluating potential AI investments. "I'm still coding every day," he said. "That really helps me for my job, and I think it's really hard to be a VC and invest in a deeply technical product if you don't have a technical background. I'm actually using this stuff." <h2>Before becoming a VC, Tully worked at startups and led engineering teams</h2>For Tully, who grew up in the Bay Area, computers and games have always been a core part of his life. He had an Apple II computer and cassette tape player that plugged into a TV on a rolling cart, which is where he taught himself to code by playing video games and reading through manuals. He said an early game of his, coded using Applesoft BASIC, was a text-based adventure game in which players would get lost in a forest and navigate through a maze, answering a series of fork-in-the-road puzzles to chase down the treasure. As a teenager, Tully had a bank of modems at his mom's house to organize a <a target="_blank" href="https://www.theatlantic.com/technology/archive/2016/11/the-lost-civilization-of-dial-up-bulletin-board-systems/506465/">bulletin board system</a> – a pre-internet computer server that other users could dial into – to host pirated video games. After college, Tully gravitated toward startups, becoming a software engineer at the dot-com-era companies iScale and Pillar Data Systems, the latter of which he left in 2003 and was eventually acquired by Oracle. He spent 14 years at Yahoo, working his way up to lead engineering for Yahoo, AOL, and its media properties, which included the Huffington Post, Tumblr, Polyvore, and Flurry, and managing a team of more than 850 people. In 2017, Tully joined data analytics company Splunk as its chief technology officer and senior vice president of product and engineering and managed the company's migration to the cloud. While he loved his team at Splunk, Tully said that he was always interested in the investing side of the tech world, and his interest was further piqued by his wife, <a target="_blank" href="https://www.businessinsider.com/sequoia-partner-jess-lee-advice-for-startup-founders-2022-9">Jess Lee</a>, who has been a partner at Sequoia since 2016. "Growing up in the Valley, I had this in the back of my mind, and I thought that as a technical person, I could do the job differently, so I began to take some calls," he said. One of those calls eventually turned into a job offer at Menlo Ventures, and Tully joined the firm as a partner in 2021. "This was an opportunity to be part of the next wave of folks that joined the firm, which was exciting to me because I'm a builder," he said. <h2>At Menlo Ventures, Tully writes checks for AI startups at the app and infrastructure layers</h2>Since joining Menlo, Tully has invested in nine startups, including Pinecone, which raised a $28 million Series A in 2022; Neon, which raised a $46 million Series B in 2023; Unstructured, which raised a $40 million Series B in 2024; and JuliaHub, an AI programming startup that raised $24 million in 2021. Another of his portfolio companies, AI quality management software startup True Era, was acquired by Snowflake earlier this year. For Tully, finding camaraderie with technical founders has been a winning strategy so far in his VC career. "My background helps me connect with technical founders because they want investors who they can talk shop with," he said. "I've managed teams and have been CTO of a public company." He's also written code as a way to help win over startups in the broader Menlo Ventures portfolio. In 2022, another Menlo partner, Naomi Pilosof Ionita, was working to land a deal for fintech startup Orb. The company didn't have a software development kit, so Tully wrote them one, printed out a link to the devkit, rolled it into a scroll, and delivered it to the startup. That helped seal the deal, and Ionita led Orb's $14 million Series A funding round. While Menlo has been bolstering its portfolio with AI-infrastructure startups, Tully said he's excited about opportunities at the application layer. This means looking at various vertical AI categories, including legaltech — he wrote a $14 million seed check for the AI legal assistant Eve, which was announced in 2023 — as well as marketing and automation. And, perhaps unsurprisingly, Tully is also trying out various AI coding copilots, and he says that the tech is making him "50-60% more productive if I'm being honest." "I'm really high on AI coding assistants," he said. "Opportunities in this space are pretty compelling." Correction: October 8, 2024 -- An earlier version of the story misstated the year Pillar Data Systems was acquired by Oracle, which was in 2011, not in 2003, which was when Tully left the company. It also said that Menlo Ventures invested in Eve in 2022, and the correct year is 2023. .

Tim Tully taught himself to code at age 6 and still codes daily. Here's how computer science took him from startups to AI investing at Menlo Ventures.

<ul class="summary-list"><li>Goldman Sachs and JPMorgan Asset Management are becoming a bit less bullish.</li><li>Although the US economic outlook is strong, returns may have been pulled forward.</li></ul>A pair of Wall Street juggernauts are getting slightly more skeptical about stocks and bonds, but a compelling investment opportunity may be hiding in plain sight.<div type="image" title="GS 10-year projection" height="1088" width="1508" msid="114505224" hostid="261" sizebytes="75402"></div>Goldman Sachs stole headlines recently by forecasting that <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-future-returns-decade-forecast-goldman-sachs-2024-10">US equities will only rise 3% a year in the next decade</a>, down from an average annual gain of 13% in the prior 10 years. The firm's rationale is based on a more challenging backdrop characterized by lofty valuations, an unusually high concentration in the market's biggest stocks, increased recession risk, lower profits, and elevated interest rates.<div type="image" title="GS 10-year projection baseline" height="742" width="1010" msid="114505227" hostid="261" sizebytes="35320"></div>Top minds at JPMorgan Asset Management (JPMAM) agree that stocks might not post the returns that investors have come to expect, though they're not nearly as pessimistic.The firm, which manages $3.5 trillion in assets, expects US large-cap equities to appreciate by 6.7% a year in the next 10 to 15 years, according to its yearly long-term capital market assumptions report released on October 21. For reference, JPMAM thinks global stocks will rise between 7.2% and 8.1% a year in that same span.A mid-single-digit annual gain for US large caps is nothing to sneeze at, though it would be down substantially from <a target="_blank" href="https://www.businessinsider.com/how-to-invest-economy-growth-outlook-recession-risk-inflation-jpmorgan-2022-11">7.9% two years ago</a> and <a target="_blank" href="https://www.businessinsider.com/how-to-invest-stocks-bonds-real-estate-outlook-strategy-jpmorgan-2023-10">7% last year</a>.There's a simple explanation for that marginally more tepid outlook: US stocks have been on a tear. And while <a target="_blank" href="https://www.businessinsider.com/stock-market-outlook-prediction-2025-how-to-invest-rally-trader-2024-10">some bulls are emboldened</a> by the S&amp;P 500's excellent track record, JPMAM strategists worry that the market has pulled forward future gains."Near the bottom of all these pages, we put a little statement saying, "Past performance is not indicative of future returns.' That's actually not true," said David Kelly, JPMAM's chief global market strategist, at a press conference about the report. "Past great performance is indicative of a more difficult environment going forward."The S&amp;P 500 is on pace to rise by at least 10% <a target="_blank" href="https://www.macrotrends.net/2526/sp-500-historical-annual-returns">for the fifth time since 2018</a> and the 11th time since the financial crisis, including what's been a 22.7% gain in 2024. That strength, combined with already-rich valuations, led JPMAM to cut its long-term projection for US large caps.<div type="image" title="JPMAM valuations" height="926" width="1038" msid="114505230" hostid="261" sizebytes="32120"></div>However, Kelly said the downward shift was gradual since the economic growth outlook is promising. The firm is calling for US real GDP of 2% in the long term, which is the highest mark since the pandemic, along with 2.4% inflation, which is down for the third consecutive year."The very good news is that we think that the foundations for the US economy and the global economy look better than they did a year ago," Kelly said. "We got through some of our more significant worries on inflation; economic growth looks pretty solid."<div type="image" title="JPMAM US GDP forecast" height="828" width="1032" msid="114505215" hostid="261" sizebytes="15222"></div><h2 id="ee7765b8-415d-46ac-862a-90df145c611f">As the 60-40 portfolio loses steam, real estate can take the baton</h2>Lower stock returns are expected to drag down the traditional 60-40 stock-bond portfolio, which JPMAM now says should fetch 6.4% a year for the next decade or so.That forecast is down from 7% last year and 7.2% heading into 2023, though it's higher than the <a target="_blank" href="https://www.businessinsider.com/alternative-investing-strategy-60-40-portfolio-bitcoin-outlook-inflation-jpmorgan-2021-11">4.3% mark in late 2021</a>, where US large caps were only expected to climb 4.1% a year in the long term after an outstanding rebound from the early pandemic lows.Bonds, which make up the second half of that calculus, have a solid but unremarkable outlook.US bonds broadly are expected to return 4.6% in the long term — down from 5.1% last year and the same as two years ago — while the US 10-year Treasury note is projected to fetch 4.2%, versus 4.6% last year and 4% two years ago. Meanwhile, high-yield bonds should deliver a 6.1% gain in the long term, compared to 6.5% last year and 6.8% two years ago.After accounting for inflation, JPMAM expects the standard 60-40 portfolio to return less than 5% in the long term, and the same is true of large-cap stocks and bonds. While such gains may be satisfactory for some, it would take over 16 years for an investor to double their money.Those looking for a more compelling investment opportunity should consider real estate, according to JPMAM. Unlike stocks and bonds, the firm's projected returns for that asset class are steadily rising, from 5.7% two years ago to 7.5% in late 2023 to 8.1% this year.US core real estate is projected to yield close to 6%, up from just over 4% a few years ago and well above the 10-year's yield of 4.2%. Real estate isn't cheap based on <a target="_blank" href="https://www.investopedia.com/terms/c/capitalizationrate.asp">capitalization rates</a>, which measure how much money a property generates relative to its market value, but JPMAM believes the asset class is an exceptional value relative to other yield-generating investments.<div type="image" title="Real estate vs 10-year yield" height="924" width="1032" msid="114505221" hostid="261" sizebytes="34048"></div>"If you were to look at this on a spread basis, the cap-rates spread would tell you that real estate looks a little bit expensive," said David Lebovitz, a global market strategist for JPMAM, at the conference. "But if you look at the all-in yield and think of that as your valuation and your starting point, we're looking at a generational opportunity."Monica Issar, JPMorgan Private Bank's global head of multi-asset and portfolio solutions, echoed that sentiment."This is absolutely the largest generational opportunity to invest in real estate in a long time," Issar said at the conference.Commercial real estate looks especially compelling, Issar said. Unlike residential real estate, which has held up well in recent years — as evidenced by <a target="_blank" href="https://fred.stlouisfed.org/series/MSPUS">remarkably resilient home prices</a> despite <a target="_blank" href="https://www.freddiemac.com/pmms">still-elevated mortgage rates</a> — office buildings have struggled to regain their value since the pandemic ushered in a new era of remote work for millions of Americans.As companies reduced their physical presence or eschewed offices altogether, demand for commercial spaces has taken a massive hit. However, Issar thinks that risk is reflected in prices."All we've been reading about and all we've been seeing is price declines and discussions about empty buildings," Issar said. "This is a time for investors to step in, move into attractive pricing, move into asset classes like non-core real estate."Investors can bet on a commercial real estate rebound by working with <a target="_blank" href="https://am.jpmorgan.com/us/en/asset-management/institutional/investment-strategies/alternatives/real-estate/">JPMAM's team</a>, or on their own through publicly traded real estate investment trusts (REITs). JPMAM didn't outline any specific investments to make, but Issar threw out a few ideas to help investors brainstorm."Think of multifamily housing; think of student housing around campuses; think of cell towers and data centers," Issar said. "That is the modernization of the new direct real estate that is going to be really attractive for investors in the future."

'Generational opportunity': Invest in real estate as stock and bond returns shrink, according to $3.5 trillion JPMorgan Asset Management

Angel Investing Opportunities

<ul class="summary-list"><li>Jassy emphasized aggressive investment in AI during a call with analysts.</li><li>Amazon plans $75 billion in capex, and even more in 2025, mostly for cloud services.</li></ul>Just when you thought Big Tech executives couldn't get more bullish on AI, <a target="_blank" class="" href="https://www.businessinsider.com/amazon-nuclear-power-strategy-ai-2024-10">Amazon</a> CEO <a target="_blank" class="" href="https://www.businessinsider.com/andy-jassy-amazon-web-services-ceo-2021-1">Andy Jassy</a> upped the ante on Thursday. During a call with analysts, he described a range of attractive opportunities for Amazon, and said the company will <a target="_blank" class="" href="https://www.businessinsider.com/amazon-data-centers-delays-costs-power-labor-shortages-aws-ai-2024-10">continue to "aggressively" invest</a> in AI.Amazon is on pace to spend $75 billion on capital expenditures this year, and it will spend even more in 2025, the CEO added. Most of this will be for the Amazon Web Services cloud unit."We've proven over time that we can drive enough operating income and free cash flow to make this a very successful return on invested capital business," Jassy said. "And we expect the same thing will happen here with generative AI. It is a really unusually large, maybe once in a lifetime type of opportunity."Jassy's remarks came after Amazon reported <a target="_blank" href="https://www.businessinsider.com/amazon-stock-earnings-report-call-live-updates-2024-10">third-quarter results</a> that largely beat Wall Street expectations. Amazon's stock jumped roughly 6% in after-hours trading.Amazon has launched a number of new AI services in recent years, including Bedrock, <a target="_blank" class="" href="https://www.businessinsider.com/amazon-ai-models-bedrock-service-success-2024-9">an AI development tool</a>, the Rufus shopping agent, and <a target="_blank" class="" href="https://www.businessinsider.com/aws-ai-chips-wider-regional-availability-microsoft-google-2024-9">homegrown AI chips</a> called Inferentia and Trainium.Those AI services are now on pace to generate "multi billion dollars" in revenue this year, and are growing at "triple digit percentages year over year," Jassy said during the call. Amazon's AI business is "growing three times faster at its stage of evolution than AWS did itself," he added.AWS's in-house AI chip business has seen mixed results so far due to Nvidia's huge market share, BI previously reported. On Thursday, Jassy said he sees a "chance to improve over time" in that space because AWS's chips are more affordable than other offerings. Customers are realizing that AI model training and inference "could get costly" and AWS's AI chips can be "very compelling" in terms of its price, the CEO explained. In fact, he said customer demand has been so strong that AWS had to go back to its chip manufacturing partners twice to produce more of its AI chips, Jassy added."It's a very significant opportunity for us in the AWS space, and it's going to be a very significant opportunity for customers," Jassy said.Do you work at Amazon? Got a tip?Contact the reporter, Eugene Kim, via the encrypted-messaging apps Signal or Telegram (<a target="_blank" rel="noopener noreferrer nofollow" class="c-link">+1-650-942-3061</a>) or email (<a target="_blank" href="mailto:ekim@businessinsider.com">ekim@businessinsider.com</a>). Reach out using a nonwork device. Check out Business Insider's <a target="_blank" rel="" href="https://www.businessinsider.com/insider-guide-to-securely-sharing-whistleblower-information-about-powerful-institutions-2021-10">source guide</a> for other tips on sharing information securely.

Amazon's CEO is even more bullish on the AI opportunity

India offers huge <keyword id="20009960" type="General" weightage="20" keywordseo="investment-opportunities" source="keywords">investment opportunities</keyword> worth over <keyword id="20120060" type="General" weightage="20" keywordseo="USD-500-billion" source="keywords">USD 500 billion</keyword>, particularly in <keyword id="19914923" type="General" weightage="20" keywordseo="clean-energy" source="keywords">clean energy</keyword> value chain including <keyword id="19955662" type="General" weightage="20" keywordseo="renewables" source="keywords">renewables</keyword>, <keyword id="19990484" type="General" weightage="20" keywordseo="green-hydrogen" source="keywords">green hydrogen</keyword> and <keyword id="19931191" type="General" weightage="20" keywordseo="EV" source="keywords">EV</keyword>, by 2030, the <keyword id="19910473" type="General" weightage="20" keywordseo="Commerce-ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Commerce ministry" meta.hostid="153" meta.entityid="Commerce ministry">commerce ministry</keyword> said on Thursday. This was stated by Commerce Secretary Sunil Barthwal, who is in Singapore for the two-day meet of the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum. The meeting, which started on Wednesday, brought together the region's top investors, clean economy companies, and start-ups to mobilise investments into <keyword id="20900661" type="General" weightage="20" keywordseo="sustainable-infrastructure" source="keywords">sustainable infrastructure</keyword>, <keyword id="21246486" type="General" weightage="20" keywordseo="climate-technology" source="keywords">climate technology</keyword>, and renewable energy projects. The 14-member IPEF bloc was launched jointly by the US and other partner countries of the Indo-Pacific region on May 23, 2022, in Tokyo. Together, they account for 40 per cent of the world's economic output and 28 per cent of trade. The framework is structured around four pillars relating to trade, supply chains, clean economy and fair economy. India has joined all the pillars except the trade. Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, the US, and Vietnam are members of the bloc. Barthwal, during the inaugural IPEF Clean Economy Investor Forum, acknowledged the forum as a unique platform that brought global investors, policy makers, and academia under one roof, which would be instrumental in advancing sustainable infrastructure in the Indo-Pacific Region. The secretary while addressing the forum underlined the huge investment opportunities that "India offers of more than USD 500 billion, particularly in the clean energy value chain including renewables, green hydrogen and EV and its infrastructure transition, by 2030". Barthwal also highlighted key reforms around ease of doing business in India to improve business environment over the last decade. During the two-day event, more than 300 participants from financial institutions, multilateral development banks, venture capital funds, project owners, entrepreneurs and government agencies from IPEF partners actively participated under the sustainable infrastructure and climate tech engagement tracks. In the sustainable infrastructure track, after the screening, "four companies (ReNew Power, Avaada Energy Pvt Ltd, Indusbridge Capital Advisors LLP. Founder, SEIP, and Powerica Ltd) from India were shortlisted for pitching their concepts on energy transition, transport and logistics, and waste management/waste to energy to global investors," the ministry said. Similarly in the climate tech track, 10 Indian startups and companies (BluSmart, Recykal, LOHUM, Sea6 Energy, EVage Ventures, Kabira Mobility, Batx Energies, Newtrace and Alt Mobility, igrenEnergi, Inc.) were selected to pitch their innovative ideas, technologies and solutions that contribute to mitigating or adapting to climate change. Further, the ministry said that the forum resulted in USD 23 billion investment opportunities for sustainable infrastructure projects in the Indo-Pacific. The coalition estimates that its members, taken together, have over USD 25 billion in capital that can be deployed in Indo-Pacific emerging market infrastructure investments in the coming years. DFC's (Development Finance Corporation) Board has also approved an equity investment as part of the USD 900 million Eversource Climate Investment Partners-II fund, which will provide capital, management, and expertise to innovative companies using new and existing capabilities to address climate change in India and Southeast Asia. It added that the IPEF partners and the Private Infrastructure Development Group announced the operational launch of the IPEF Catalytic Capital Fund, which would deploy concessional financing, technical assistance, and capacity-building support to expand the pipeline of quality, resilient, and inclusive clean economy infrastructure projects in emerging and upper-middle income economies, for instance, projects in development include a renewable energy platform in India. The fund's founding supporters include Australia, Japan, Korea, and the US, which plan to provide USD 33 million in initial grant to catalyse up to USD 3.3 billion in private investment. "A coalition of investors, including Singapore's Temasek and GIC, have committed to injecting USD 25 billion in infrastructure investments in emerging markets that are part of an economic alliance between the US and several Asia-Pacific countries," it added. The event also witnessed signing of an offtake agreement between Sembcorp Green Hydrogen India, Kyushu Electric and Sojitz for production and export of 200 KTPA (kilotonne per annum) green ammonia from India to Japan. The programme was attended by ministers from Singapore and Japan and Barthwal. The agreement aims to increase production and export of 200 KTPA green ammonia in Phase-I (total 800 KTPA in 4 phases) at Tuticorin Port in India and export to Japan. The project proposed above would further the objective of the National Green Hydrogen Mission implemented by India towards making the country as global hub for production and export of green hydrogen and its derivatives. During an interaction with Indian companies and startups, Additional Secretary in the Department of Commerce and India's Chief Negotiator for IPEF Rajesh Agrawal said the forum provides an opportunity for Indian companies and startups to seek funding and collaborate with global investors.

India offers USD 500 billion investment opportunities in clean energy, green hydrogen and EV by 2030

The Indian cement industry is on track to reach 5.09 billion tonnes by 2028-29, driven by robust government investment in infrastructure. According to an IANS report originally attributed to Infomerics Ratings, this marks a compound annual growth rate (CAGR) of 4.9 per cent between 2024 and 2029. In 2022-23, the industry’s market size stood at 3.82 billion tonnes, with a total installed capacity of 622 million tonnes per annum (MTPA) in FY24 and production at 427 million tonnes. Notably, India contributes over 8 per cent to the world’s total installed cement capacity, highlighting its importance in the global market. Despite this, India’s per capita cement consumption is 260 kg—significantly below the global average of 540 kg—indicating substantial room for growth. Globally, the cement market is projected to grow at a CAGR of 4.3 per cent from 2024 to 2032. The sector’s expansion is fuelled by ambitious government initiatives, including an allocation of ₹11.11 lakh crore for infrastructure in FY25 and housing schemes like Pradhan Mantri Awas Yojana. The construction sector consumes 55 per cent of cement production, while public infrastructure projects account for the remainder. The industry also plays a critical role in employment, providing direct jobs to over one million people and creating downstream opportunities for about 20,000 individuals per million tonnes of cement produced. Private players dominate the sector, controlling 98 per cent of production capacity, while public sector units hold a mere 2 per cent. Domestic production meets almost all demand, with imports accounting for just 0.2 per cent of total production in FY23. However, exports have declined recently due to reduced global demand and rising competition. India currently has 341 cement manufacturing facilities, including 159 integrated large cement plants, 120 grinding units, and 62 mini cement plants. Cement production has seen steady growth, with a 7.1 per cent increase in September 2024 and a cumulative growth of 1.6 per cent between April and September of FY25, according to the Ministry of Commerce and Industry. This growth aligns with India’s overall industrial performance, which saw a 2 per cent rise in core industries in September, led by cement, steel, coal, and fertilisers. As India invests heavily in infrastructure and housing, the cement industry is set to play a pivotal role in supporting the nation’s economic and developmental goals. (with IANS inputs)

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Indian banks to have steady growth in earning over next 3-4 years, fees from unsecured lending may dip, notes Jefferies report

BI India Bureau

Tim Tully taught himself to code at age 6 and still codes daily. Here's how computer science took him from startups to AI investing at Menlo Ventures.

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