AGP Executive Report

FDI & FPI Confidence: RBI says foreign investment recovery is back—net FDI rose to $6.5 bn in Apr-May FY27 and FPIs stayed positive in June, with investors also citing easing tensions and debt-market support. Rural Green Finance: NABARD and Maharashtra’s MAHAPREIT signed an MoU to fund climate-resilient rural projects, clean energy and water-related infrastructure, starting with Maharashtra PRIs. Trade Push: India’s WTO review highlights a long-term goal to lift merchandise export share from ~1.8% (2024) to ~10% by 2047, backed by duty-remission and rebate schemes. EV Adoption Outlook: Ind-Ra expects EV penetration to rise to 10-12% of vehicle sales in FY27 (from 8.5% in FY26), but growth will depend on charging, localisation and policy support. Corporate Watch: Cipla reported a bigger-than-expected profit fall in Q1 and named Dinesh Jain as global finance chief. Green Logistics: GreenLine will deploy LNG-powered trucks in Dabur’s supply chain to cut freight emissions. Policy & Infrastructure: Govt says coal still supplies ~70% of summer power; JJM 2.0 rural tap coverage has crossed 82%. Markets & Energy Risk: Brent near $100 and Red Sea disruptions keep oil and CAD worries in focus. Delhi Metro Disruption: 16 stations were shut amid the ongoing “Cockroach” protests, stranding commuters and raising travel time. Health & Courts: Delhi HC flagged that CBSE-JoSAA schedule clashes can’t make improvement chances meaningless for students.

Delhi High Court Verdict on Vedanta: The Delhi HC upheld the Centre’s refusal to extend Vedanta’s Suvali offshore oil PSC, citing Vedanta’s “unilateral deduction” of government share; ONGC is set to take over operations. CBI Probe in Mumbai: CBI registered an FIR against a Mumbai realty firm and directors over an alleged ₹26.55-crore SBI project-finance fraud, alleging questionable cost certificates and diversion of loan funds. Protests & Politics: The youth-led “Cockroach” movement kept pressure on the Modi government, with large marches in Delhi and clashes drawing fresh attention to education-policy grievances. India-UK Trade Deal: CETA entered force on July 15, cutting tariffs for most Indian goods (99% duty-free) and expanding services access, though regulatory and carbon costs may curb some gains. India-US Diplomacy: Rubio and Jaishankar in Manila pushed to finalise an “almost complete” interim trade deal and accelerate defence agreements; Rubio said India raised no concern on proposed generic-drug tariffs. Corporate Earnings Roundup: Nippon Life India AMC reported record Q1 PAT of ₹504 crore (+27% YoY); Schaeffler India posted strong Q2 FY26 growth; Oracle Financial Services Software surged with 69% YoY revenue growth and 121% net income jump. Energy Storage Push: India awarded 1,344MW pumped hydro contracts and approved a utility-scale vanadium flow battery, signalling long-duration storage moving into commercial scale.

Delhi Metro Disruptions: DMRC shut entry/exit at 16 central stations (including Rajiv Chowk, Rajiv Chowk, Patel Chowk, Central Secretariat) amid heightened security for the Jantar Mantar protest, though key interchange access remains at Rajiv Chowk, Mandi House and Central Secretariat. EV Charging Push: Govt told Parliament India has 52,718 public EV charging stations, with 16,561 fast chargers; it also cited FAME-II and PM E-DRIVE funding to expand infrastructure and reduce range anxiety. Trade & Exports: India plans broader FTA/CEPA expansion to diversify export markets, with support via overseas missions, export councils and “districts as export hubs”; DGFT also proposes easing RCMC rules for low-value exports up to ₹10,000. US Pharma Tariffs: Trump’s plan for up to 200% tariffs on generic drug imports from 2028 threatens India’s pharma export competitiveness, even as a short exemption window remains. Energy & Shipping: Oil tankers bound for India/China reportedly took U-turns in the Red Sea after Houthi warnings, raising fresh risks for global energy routes. BESS Manufacturing Deal: Advait Battery Ecosystems signed with Adaptive Engineering to build and commercialise an integrated battery energy storage systems platform in India. Sikkim Tunnel Tragedy: A methane blast in an under-construction NHPC tunnel killed 20, with five still trapped as rescue teams battle toxic gas.

Rupee Watch: Finance Minister Nirmala Sitharaman said the rupee has no fixed band and is market-determined, while traders question RBI’s intervention as the currency nears record lows. Markets: Sensex slipped 238 points to 77,470 and Nifty ended at 24,188, with midcaps and auto/NBFC buying cushioning heavyweights. Aviation: Domestic air traffic fell 12% in June; IndiGo kept a 66.3% share while Air India Group slipped. Corporate Earnings: Anthem Biosciences posted Q1 profit of ₹119.94 crore, but revenue from operations fell 31.54%. EV Push: India reported 52,718 public charging stations (16,561 fast chargers) and outlined funding under FAME-II and PM E-DRIVE. Trade & Deals: India-U.K. CETA kicked in July 15 with zero-duty access for 99% of Indian exports; India also exported $545m of goods to Iraq in Q1, led by rice. Energy & Commodities: India boosted Russian crude purchases to record levels as Hormuz risks push some refiners to pull back from Iraq. Health & Policy: Delhi will issue Smart Property Cards for 48 Lal Dora villages under SVAMITVA; Aadhaar app downloads crossed 40 million. Disaster: Rescue stalled in Sikkim after a tunnel collapse due to toxic gases, with deaths rising to 12.

Tunnel Tragedy: A methane-triggered explosion collapsed an under-construction tunnel at the Teesta hydropower project in Sikkim, killing 10 and leaving 17 missing as rescue teams battle toxic gases. Tourism Push: The Centre has sanctioned 117 tourism infrastructure projects worth ₹5,756.62 crore to improve connectivity and visitor amenities under schemes like Swadesh Darshan and PRASHAD. Gold & Markets: Gold prices rose for a third straight day, with 24K up to around ₹1,44,220 per 10g, tracking firmer global bullion. Auto Deal Watch: Volkswagen is in advanced talks to sell a stake in its India unit to JSW, potentially boosting capital for Skoda Auto Volkswagen India. Aviation Update: IndiGo kept dominance with 66.3% market share in June, even as domestic passenger traffic dipped 1.03% month-on-month. Digital Payments: India and Spain agreed to accelerate talks on linking UPI with Bizum to expand cross-border instant payments. Energy & Trade: India signed 8.4 mtpa of long-term LNG contracts in 2025; separately, farmers intensified protests against the proposed India-US trade deal. Health & Business: DCGI approved Takeda’s QDENGA, India’s first dengue vaccine for ages 4-60, while Granules India reported a near 60% jump in Q1 profit on margin improvement.

Dengue Vaccine Breakthrough: DCGI has granted market authorisation to Takeda’s QDENGA, India’s first dengue vaccine, for people aged 4-60, with no need for pre-vaccination testing—an important step as India carries a huge share of global dengue burden. Trade & Europe Push: Commerce Minister Piyush Goyal wrapped a Europe trip, urging faster India–EU FTA implementation and deeper tech and investment ties, including a focus on digital and emerging sectors with Estonia. Digital Payments & Policy: India is in talks to link UPI with Spain’s Bizum, while policymakers also discuss bringing back a small MDR for large retailers—small on paper, but meaningful for payment economics. Manufacturing Outlook: Reports flag India’s textile sector entering a multi-year growth phase on China+1 and FTAs, but warn execution and productivity will decide who wins. Mumbai Civic Tech: BMC approved AI, drone and satellite-based monitoring to detect illegal constructions, plus a GPS complaint portal. Housing & Courts: CIDCO conducted a computerised lottery for 8,795 EWS homes in Navi Mumbai; other categories were deferred amid HC proceedings. Business Results: Rallis India posted a 31.6% YoY jump in Q1 FY27 net profit to ₹125 crore; Transformers and Rectifiers (India) saw revenue rise to ₹572.34 crore. Markets & Macro: Deloitte expects India’s FY27 growth at 6.5-6.8%, citing recovery support from festive demand and easing, despite global risks.

India-Australia Ties: PM Modi wrapped up a high-stakes Australia visit with 18 outcomes spanning defence, maritime security, energy and education, and pushed trade talks forward under the India-Australia Comprehensive Strategic Partnership. Capital Flows: CareEdge Ratings expects India’s net FDI to more than double to about $15 billion in FY27 as repatriation outflows ease and gross inflows strengthen. Port Crackdown: Mumbai Port Authority is moving aggressively against IHCL and other defaulters over ~₹3,500 crore in lease dues, including possible criminal action. Public Health: DCGI cleared Takeda’s QDENGA—India’s first dengue vaccine—for ages 4-60, without prior dengue testing, with production support via Biological E. Urban Mobility: Delhi approved incentives under the Parivartan scheme to replace old trucks and buses with BS-VI or EVs, and plans 2,800 new AC electric buses from next year. Digital Payments: India and Spain agreed to fast-track UPI-Bizum interoperability talks to boost cross-border payments. Market Watch: India’s gems & jewellery exports rose 26.5% in June; and IMD issued monsoon alerts with district-wise red/orange warnings. Protest & Security: Delhi Police denied use of force at Jantar Mantar as CJP’s “Sansad Chalo” march triggered heavy security and metro disruptions.

Private Space Push: Skyroot’s Vikram-1 becomes India’s first privately built orbital-class rocket to reach orbit, opening a new commercial space chapter after the government’s space reforms. Banking & Insurance: Axis Bank is weighing raising its stake in Axis Max Life Insurance from 19.99% up to 30%, subject to RBI approval. Markets & Risk: India’s F&O boom is under renewed scrutiny as retail traders face spiralling losses and calls grow for stronger protections. Public Finance & Corporate Earnings: Central Bank of India’s Q1 FY27 net profit rises to ₹1,323 crore; Havells’ Q1 FY27 revenue grows 19.5% but profit dips on higher marketing and raw material costs; India Cements and Sangam India report profit turnarounds in Q1 FY27. Digital Safety: Delhi police arrest 10 in a crackdown on online child sexual abuse material, registering FIRs under POCSO and IT Act. Policy & Trade: Commerce Secretary Rajesh Agarwal heads to Geneva for India’s WTO trade policy review; India-U.K. CETA is framed as a more “mature” trade approach balancing liberalisation with domestic sensitivities. Social Schemes: Delhi Lakshmi Yojana may lock ₹1,500 of monthly aid in an RD for three years; Delhi’s Har Ghar Tiranga will source ~2 lakh flags from SHGs. Sports Economy: England beat India by 27 runs at Lord’s to win the ODI series 2-1, while Nolan’s The Odyssey crosses ₹50 crore in India.

Private Space Breakthrough: Skyroot’s Vikram-1 successfully reaches a 450-km orbit on its maiden private orbital mission, putting India in an elite club and validating the country’s space reforms as the company targets routine commercial flights after further test launches. Investment & Jobs Push: Chhattisgarh tops the CRISIL-NITI Aayog Investment Friendliness Index 2026 on regulatory ease and institutional environment, with the state touting Rs 8 lakh crore in investment proposals in 18 months. Markets & Earnings Watch: Investors brace for volatility as Q1 results roll in alongside West Asia risks and crude moves, with Reliance and major banks in focus. Real Estate Expansion: Prestige Estates Projects launches three housing projects across Hyderabad, Bengaluru and Mumbai with Rs 12,000 crore revenue potential, despite a 46% dip in Q1 bookings. Delhi Civic & Transport: Delhi flags off 135 electric sanitation vehicles for MCD and plans 2,800 AC electric buses under PM E-Drive, aiming to cut pollution and improve door-to-door collection. Cybercrime Crackdown: Delhi Police arrest three in a sextortion-based cyber fraud case involving about Rs 5.80 lakh. Bullion Update: Gold edges up to around Rs 1,43,440/10g (24K) while silver holds near Rs 1,68,000/kg.

Space & Industry: Skyroot’s Vikram-1, India’s first privately developed orbital rocket, successfully reached a ~450-km low-Earth orbit under Mission Aagaman, placing multiple tech payloads and PM Modi’s “Vande Mataram” postcard in orbit—an important step for India’s commercial launch ambitions. Banking & Markets: ICICI Bank posted a higher-than-expected Q1 profit, up 15.9%, helped by stronger loan demand and lower bad-loan provisions; deposits and net interest income also rose. Real Estate: Housing sales in India’s top seven cities fell 6% in Q2 as West Asia uncertainty weighed on demand, while new launches rose 7%, pointing to a more balanced market. Transport & Cities: Delhi plans 2,800 new electric buses by Aug 2028 (Phase I), taking the fleet to 14,000 by 2028-29, with buses split between 12m and 9m for last-mile coverage. Policy & Governance: RBI’s polymer currency plan is back in focus as global bids for printing trials are reported, with potential rollout for ₹10 and ₹20 notes. Legal & Sports: BCCI told Bombay HC that OCI cardholders can’t play domestic cricket under the 2023 eligibility rules, while the High Court cancelled bail for a Shiv Sena corporator in a doctors’ assault case.

Space & Industry: Skyroot Aerospace’s Vikram-1, India’s first privately developed orbital rocket, successfully reached a 450-km orbit after a brief technical delay, making India the third country with private orbital launch capability; PM Modi called it a “historic new frontier” and the mission carried tech payloads plus a “Vande Mataram” postcard. Capital Markets & Fraud: SEBI warned corporate India about CEO/MD impersonation scams on WhatsApp, email and Teams, including AI voice cloning and malware-laced ZIP files used to trick finance teams into urgent fund transfers. Banking: Kotak Mahindra Bank reported a 26% jump in Q1 profit, citing strong loan growth and lower provisions, while deposits and net interest income rose. Consumer & Payments: RBI is exploring polymer notes, with tenders reportedly aimed first at Rs 10 and Rs 20. Regulation & Health: Maharashtra FDA suspended a KEM Hospital canteen licence over hygiene and food-safety violations. Business Climate: NITI Aayog’s Investment Friendliness Index 2026 put Gujarat at the top, with Odisha also in the top five. Tech & Telecom: Chinese smartphone makers’ India share hit the lowest since 2020 as memory-price pressure squeezed the mass market. Infrastructure: Ghazipur-Ballia-Manjhighat greenfield expressway is set to cut travel time and boost Delhi-NCR connectivity.

Maritime Security & Trade: Iran is reportedly tightening influence around the Bab el-Mandeb by deepening ties with Yemen’s Houthis and contacts with Horn of Africa militants, raising fears of disruption to Red Sea shipping. Energy Policy: India’s MEA says it is “closely following” a US bill proposing 100% tariffs on top buyers of Russian oil, stressing India buys from multiple suppliers for energy security. Macro & Risks: RBI Governor Sanjay Malhotra flags West Asia conflict and a weak monsoon as key risks, while noting India’s fundamentals remain strong. Forex Update: India’s forex reserves rose $964 million to $675.16 bn (week ended July 10), led by higher foreign currency assets. Semiconductor Push: Cabinet clears Semicon 2.0 with ₹1.27 lakh crore to expand India’s chip ecosystem beyond fabs into design, packaging, talent and next-gen research. Space & Industry: Skyroot Aerospace prepares to launch Vikram-1, India’s first private orbital-class rocket, as the space economy scales with 400+ startups. Retail Finance: Banks seek RBI clarity on collateral-free loans up to ₹20 lakh for small businesses where accounts aren’t fully covered under CGTMSE. Markets/Capital: MakeMyTrip confidentially files DRHP with SEBI for an India IPO worth up to $1 bn. Local Governance (Mumbai): BMC will run free breast cancer screening camps across all wards on July 22; meanwhile, Mumbai Mayor Ritu Tawde rejects BMC’s clean chit in the Chembur tree-collapse case and orders a fresh probe.

India-Finland Trade Push: Commerce Minister Piyush Goyal begins a Finland visit with CII MoUs to deepen ties in digital, frontier tech, space, clean energy and bio/circular economy. Growth Outlook: Moody’s Analytics says India stays the fastest-growing major economy in 2026-27, even as global risks from West Asia and trade frictions rise. EU Trade Framework: CITI and EURATEX launch the EU–India Textile & Apparel Dialogue to monitor the India–EU FTA’s rollout. Nuclear Cyber Risk: Reuters reports a data breach linked to Kudankulam; NPCIL says no nuclear security-sensitive info was exposed. Aviation Connectivity: Ram Mohan Naidu and Praful Patel flag off Daman–Delhi–Daman flights from NAMO Airport, boosting regional air access. Road & Pilgrimage Boost: PM Modi inaugurates the Haryana stretch of the Delhi-Amritsar-Katra Expressway, cutting Delhi–Katra travel to about six hours. Markets & Policy: A parliamentary panel seeks clarifications on the Securities Market Code Bill; Nomura flags CAFE III draft as nudging faster EV shift. Rupee & Rates: RBI Governor Sanjay Malhotra calls India’s fundamentals strong but warns of West Asia and monsoon risks. IPO Watch: SBI Funds Management’s IPO draws bids worth ₹3 trillion, set to trade July 21. Hydrogen Rail: PM Modi flags off India’s first hydrogen-powered train on the Jind–Sonipat route.

Cybersecurity & Nuclear Safety: A ransomware group says it leaked files tied to India’s Kudankulam nuclear plant, including purported facility blueprints and supplier details; Reliance Group contractor says it was a partial breach on a server hosted by Yotta, raising safety and cyber-risk alarms. Macro & Rates: Geopolitics is feeding into India’s numbers: rupee slips near 96.3, retail inflation hits 4.38% (above RBI target), and the trade deficit widens—fueling talk of an August rate move. Trade Policy: India-UK CETA/CETA+social security pacts kick in, cutting tariffs and flagging off first zero-duty exports worth $140m; industry expects boosts for textiles, pharma, jewellery and services. Urban Logistics & Pollution: Delhi plans five multimodal hubs on the NCR edge to shift long-haul diesel freight to electric trucks during GRAP curbs. Delhi Start-ups: Delhi cabinet clears a ₹400-crore start-up and incubation policy for 5 years, aiming to turn youth into job creators. Markets & Corporate: Nifty/Sensex trade flat; Wipro declares ₹2 interim dividend and reports Q1 FY27 results, while Piramal Finance and Jio Financial show strong profit jumps. Commuter Safety (Mumbai): Fresh violence incidents on Mumbai locals reignite security concerns. Health & Pharma: Pfizer temporarily suspends Premarin vaginal cream in India due to supply challenges.

Semicon 2.0 Push: The Union Cabinet approved the Semicon 2.0 programme with ₹1.27 lakh crore to build India’s semiconductor design, manufacturing and ATMP/OSAT ecosystem, with support across IP, fabs, equipment, materials and talent. India-EU Trade & Tech: At the 3rd India-EU Trade and Technology Council in Brussels, both sides mapped deeper cooperation in semiconductors, AI, EV tech, clean energy and resilient supply chains, while work on the India-EU FTA continues. India-UK CETA Starts Bites: The India-UK trade deal is now in force, cutting tariffs for 99% of goods by value; medical devices see phased duty cuts and the first jewellery export consignment to the UK was flagged off. Currency Watch: Kotak expects the RBI to act aggressively if USD/INR pressures the 98–100 zone, with short-term inflows and upcoming FCNR/ECBs seen as buffers. EV & Energy Infrastructure: Realme confirmed it will run future phones on ColorOS; separate reporting flags OnePlus restructuring and potential India exit by 2027. Power & Telecom Orders: ITI won a BSNL 4G expansion order worth ₹856 crore; Supreme Power Equipment bagged a ₹13.60 crore transformer order. Energy Transition: Railways will flag off India’s hydrogen fuel cell train on July 17, using onboard generation without overhead lines. Policy & Risk: India directed seafarers to avoid Strait of Hormuz routes after attacks, while Karnataka sought Centre help over rainfall deficit and water stress.

India-UK CETA: The UK-India Comprehensive Economic and Trade Agreement (CETA) kicked in, cutting tariffs for nearly 99% of Indian exports and aiming to lift bilateral trade to $100 billion by 2030; sectors flagged include textiles, gems & jewellery, engineering, auto components, chemicals and seafood, while Scotch whisky duties are set to fall from 150% to 75% initially. Semiconductors Push: India cleared “Semicon 2.0” with about $13.23 billion support to expand chip design, fabrication, packaging and testing, and strengthen the domestic ecosystem. Forced-Labour Imports: India amended its foreign trade policy to create a legal framework to prohibit imports of goods made with forced labour, amid US Section 301 scrutiny. Quick-Commerce LPG: Swiggy Instamart and HPCL launched India’s first on-demand LPG cylinder delivery via quick commerce in Bengaluru, starting with 5kg and 10kg cylinders. Nuclear Cyber Risk: World Leaks posted files tied to Kudankulam, including purported blueprints; Reliance Group says there was a partial breach on a third-party server and the government was informed. Aviation & Trade: Akasa Air and BPCL signed an MoU to build India’s SAF ecosystem, while Navi Mumbai Airport began international operations with Abu Dhabi flights. Monsoon Health (Mumbai): Dengue cases rose 27.8% and malaria 18.2% in the first half of July, according to BMC data.