Arvind's Newsletter

1.Young Indians are increasingly upbeat about their prospects — more so than their older compatriots and their peers abroad, according to Gallup polling

Indians overall are more hopeful than almost any year since 2009, and those in the 15-24 age cohort most of all, while Indians of all ages overwhelmingly believe their country offers good opportunities for children to learn and grow. In every age grouping, women are more positive than men about their job prospects, and Indians across the board are more optimistic about their country’s economy than people in richer countries.

2.IPL Teams to be listed in The Stock Market?

It could be a possibility. Punjab Kings and Delhi Capitals have approached the Board of Control for Cricket in India (BCCI) to enquire whether they’re allowed to go public, reported Mint. Meanwhile, Rajasthan Royals is looking to raise more private equity funds, two years after selling a 15% stake to US-based RedBird Capital Partners.

A public listing would particularly be of interest to owners who have bought franchises in multiple global leagues, like JSW GMR Cricket, who can then list a consolidated entity.

3.JSW-MG Motor deal likely in two months, reports the Mint

JSW Group may announce the purchase of a stake in MG Motor India as early as two months if the negotiations progress successfully, and the first JSW electric car could roll out from a factory as early as next year.

The deal, which is likely to value MG Motor India at $1.2-1.5 billion, involves the initial purchase of a minority stake by JSW Group, with a firm plan to secure a majority stake in the automaker over time.

The group is parallelly working on a Plan B to partner with a foreign company, most probably a Chinese one, to launch its product in India if the talks with MG Motor fail.

As part of the strategy to launch EVs, JSW Group is also competing with Mahindra & Mahindra Ltd to acquire the Chennai plant of Ford India.

4.The new iPhone due to be announced next week will have a USB-C socket, as Apple bends to the European Union’s insistence on a common standard, opines Mark Gurman in Bloomberg.

Existing iPhones use Apple’s proprietary Lightning charger, but the EU requires that to change by December. Although Apple resisted the change for a long time, it is now selling it as a win for consumers: A single charging cable for many Apple devices, increased data transfer and charging speed, compatibility with non-Apple devices. “The company has an iron-clad rule,” reported Bloomberg: When dealing with the media, “it wants to operate from a position of strength.” That means no mentioning its years of opposition to the move it is now enthusiastically backing.

5.China is creating a $40 bn state-backed chip fund

It’s part of the country’s plan to sidestep harsh US sanctions reports Reuters.

China is set to launch a new state-backed investment fund that aims to raise about $40 billion for its semiconductor sector, as the country ramps up efforts to catch up with the U.S. and other rivals.

It is likely to be the biggest of three funds launched by the China Integrated Circuit Industry Investment Fund, also known as the Big Fund.

Its target of 300 billion yuan ($41 billion) outdoes similar funds in 2014 and 2019, which according to government reports, raised 138.7 billion yuan and 200 billion yuan respectively. One main area of investment will be equipment for chip manufacturing.

President Xi Jinping has long stressed the need for China to achieve self-sufficiency in semiconductors. That need has become all the more pressing after Washington imposed a series of export control measures over the last couple of years, citing fears that Beijing could use advanced chips to boost its military capabilities.