8 January 2026 | 8:08AM JST Equity Research Tina Hou +86(21)2401-8694 | tina.hou@goldmansachs.cn Goldman Sachs (China) Securities Company Limited China auto sales likely to decline yoy in 2026, leading to an accelerated export drive. Chinese BEVs are structurally more than 30% lower in cost (primarily due to batteries and eAxles), and we expect that Chinese-made BEVs will rapidly penetrate regions with low tariff levels. China effectively controls the BEV supply chain (holding 72-98% of the global market sh ...

Apple Inc. exported iPhones worth $50 billion from India in 2025, marking a significant milestone for the country's manufacturing sector. Union Minister for Railways, Information & Broadcasting, Electronics & Information Technology, Ashwini Vaishnaw, shared the development on X, attributing the growth to the 'Make in India' initiative and the transition toward a producer economy.In a major milestone for PM @narendramodi Ji's 'Make in India' and our quest to become a producer economy, Apple ships $50 billion ...

Core Viewpoint - Hyundai Motor India Ltd (HMIL) has appointed Tarun Garg as its new Managing Director and Chief Executive Officer, marking the first time an Indian national will lead the company since its establishment 29 years ago [1] Group 1: Leadership Transition - Tarun Garg officially assumes his role as MD & CEO from January 1, 2026, succeeding Unsoo Kim, who will return to a strategic position at Hyundai Motor Company [1] - This leadership change reflects Hyundai Motor Group's confidence in India's strategic importance and growth within the global automotive sector [2] Group 2: Strategic Focus - Garg's leadership will emphasize four key pillars: future-ready strategy, people and market focus, customer-centric approach, and the 'Make in India, Made for the World' initiative [3] - With over 30 years of automotive experience, Garg is expected to guide HMIL through its next growth phase in India [3] Group 3: Vision and Goals - Garg aims to build on HMIL's strong foundation while driving sustainable growth, technological leadership, and enhancing customer satisfaction [4] - The company plans to align with Hyundai's global vision of 'Progress for Humanity' to create impactful mobility solutions [4] Group 4: Investment Plans - HMIL has announced an investment of ₹45,000 crore by FY30 to accelerate developments in electric vehicles, hybrids, and connected mobility [5]

Core Insights - HPE India is focused on expanding its networking business, particularly in hyper-cloud systems, following the acquisition of Juniper Networks Inc [1][2] Group 1: Networking Business Growth - The Managing Director and SVP, Bhawna Agarwal, expressed strong optimism about the growth potential of HPE's networking portfolio in India, indicating a commitment to accelerate efforts in this area [2] - HPE aims to enhance user experience through secure AI self-driving networks, which are designed to minimize operational issues and costs [2][3] Group 2: Hybrid Cloud and AI Integration - HPE plans to leverage Juniper's AI capabilities to create a simplified, AI-driven platform that requires less human intervention, thereby improving customer engagement [3] - The company has experienced significant success in the hybrid cloud sector in India and intends to enhance interoperability and observability to better support customers [4] Group 3: Sectoral Focus and Opportunities - HPE is witnessing strong demand for networking services across various sectors, including banking, manufacturing, media, entertainment, telecom, and public sector, with positive signals from both government and private entities [5] - The company is particularly optimistic about growth in the media and entertainment sectors, as well as content within telecommunications [5] Group 4: Make in India Initiative - HPE is committed to its "Make in India" initiative, emphasizing deeper engagement in compute-centric discussions with customers and plans to increase investments in this area [6] Group 5: Sustainability Trends - There is a growing customer interest in sustainability measures within the context of AI, which is expected to evolve over time [7][8] - HPE is actively partnering with global stakeholders, including those in India, to address sustainability concerns, recognizing its importance for long-term investment returns [8] Group 6: Data Sovereignty and AI Networking - The trend towards data sovereignty is driving demand for AI networking solutions, as companies seek better control and compliance in secure environments [9] - Organizations are looking for streamlined ways to analyze and derive insights from their data, aiming for improved ROI on their investments [9]

"Allison transmissions are an ideal fit for the demanding conditions at MDO sites like Pakur in Jharkhand," said Amar Kanth Mishra, Head Technical of Shar Projects Private Limited. "They've consistently delivered the reliability and performance we need in these environments. With the addition of XCMG WBD trucks to our fleet, we're confident that Allison's technology will continue to support our growth and operational excellence across current and future projects." Allison's commitment to India's industrial ...

Navitas, Cyient Semiconductors Enter into a Strategic Partnership to Accelerate GaN Adoption in India’s AI, Mobility, Industrial, and Energy Markets The partnership seeks to build a robust local supply chain and manufacturing ecosystem in support of the Indian Government’s “Make in India” initiative. In addition, through this partnership Navitas and Cyient Semiconductor aims to deploy IC technology in accelerating solution development for high voltage and high-power markets. TORRANCE, Calif. and HYDERA ...

How Trump did Make in India a favor and what lies ahead for quantum computing in the country, Menaka Doshi writes in India Edition (Free to read) https://t.co/fhWeY9wkBf ...

Core Insights - Manish Sharma has resigned as Chairman of Panasonic Life Solutions India after over a decade of leadership, with plans to assist in a smooth transition until the end of the year [1][3] - Sharma's departure is described as a personal decision, and he intends to announce his future plans in January 2026 [2] - Under Sharma's leadership, Panasonic has significantly enhanced its presence in the appliance market, particularly in room air conditioners and LED TVs [4] Company Developments - Sharma has been pivotal in shaping Panasonic's business strategy and growth in India, contributing to the company's competitive positioning in the market [3] - Panasonic India has seen increased local production across various product lines during Sharma's tenure, aligning with the "Make in India" initiative [5] - The company has also benefited from Sharma's involvement in industry bodies, including the Electronics Manufacturing Committee of FICCI and the SCALE Committee, aimed at boosting local manufacturing and exports [6] Leadership Transition - Tadashi Chiba will continue to manage the India business as Sharma transitions out of his role [3] - Sharma's resignation was announced during a town hall meeting attended by Panasonic Corporation's CEO, indicating the significance of the leadership change [4]

Company Overview - Aisin Automotive India, a subsidiary of Japan's Aisin Corporation, is a tier-1 supplier of drivetrain, brake, and chassis systems to major global automakers [1][7] - The company has secured over 900,000 sq ft of industrial space at Shendra MIDC in Maharashtra's Chhatrapati Sambhaji Nagar through a long-term lease of over 95 years [7][8] Industry Context - The industrial park spans 232 acres and is 80% leased to a mix of global and domestic companies, with a significant presence of firms from Japan and Germany [2][3] - The facility is evolving into a center for advanced manufacturing, engineering, and supply-chain operations, catering to both export-oriented and domestic industrial demand [3][6] Strategic Importance - This marks Aisin Automotive India's second plant in the country, following its initial setup in Gurgaon, indicating a growing preference among international manufacturers for Chhatrapati Sambhaji Nagar as a production base [5][6] - The location along the Samruddhi Mahamarg Expressway enhances connectivity to Mumbai, Nagpur, and the upcoming Jalna Dry Port, improving logistics efficiency for export-oriented industries [5][6] Government Initiatives - The Indian government's focus on manufacturing-led growth through initiatives like Make in India, the Production Linked Incentive (PLI) Scheme, and the National Logistics Policy is attracting global manufacturers [6][8] - These initiatives aim to strengthen domestic production, enhance supply-chain resilience, and promote self-reliance by encouraging investment across key sectors [6][8]

Core Insights - State Bank of India (SBI) has executed its inaugural gold trade as a special category client on the India International Bullion Exchange (IFSC) Ltd, marking a significant development in India's bullion import landscape [1][2] - This initiative aims to enhance efficiency, transparency, and accessibility for the bullion industry, particularly benefiting MSME jewellers [1][2] Group 1: Strategic Positioning - As a special category client, SBI is set to facilitate seamless bullion transactions, supporting various stakeholders in the gold import process [2] - The move aligns with SBI's commitment to innovation and financial inclusion, utilizing the advanced infrastructure of IIBX to streamline imports and reduce reliance on traditional methods [3] Group 2: Economic Impact - SBI Chairman C S Setty emphasized that this collaboration will reshape bullion imports, making them more cost-effective and compliant with global standards, benefiting the entire ecosystem from importers to consumers in the jewellery sector [3][4] - SBI's participation on IIBX supports the government's initiatives to formalize and modernize the bullion trade, aligning with the Make in India and GIFT City vision [5] Group 3: Market Dynamics - By acting as a key intermediary, SBI aims to drive greater liquidity, competitive pricing, and sustainable growth in India's bullion and jewellery industry, potentially encouraging other banks to join IIBX as Special Category Clients [6]