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- Arvind's Newsletter-weekend edition
1.KPMG India, US, and UK in talks for landmark advisory practices merger
KPMG India, KPMG US, and KPMG UK are in talks to merge their advisory practices—consulting, risk, tech consulting, and deal advisory—in an industry-first move to scale up its consulting services, which have been driving the firm’s growth in India, reported the Economic Times.
The combined entity will invest aggressively in scaling up the India advisory practice and growing client servicing capabilities in India. Notably, the tax and audit practice—managed through affiliate BSR & Co— will likely remain separate, although this detail is still under discussion. Termed "Project Himalaya" within KPMG, this endeavour has been quietly underway for several months.
2.Tata Motors’ EV subsidiary to enter strategic partnership with JLR to develop premium EVs.
Tata Motors Ltd’s passenger electric vehicle subsidiary said it will enter a strategic partnership with Jaguar Land Rover, the wholly-owned British luxury vehicle arm of the group, to leverage its electrified modular architecture (EMA) platform and develop its premium pure EV series, Avinya.
For the first time since the Tatas acquired JLR, the Indian passenger vehicle firm will be sharing the new platform and utilizing the strengths of JLR to fast-track the development of new vehicle types.
Tata Motors first showcased the Avinya concept, the company’s third-generation electric vehicle platform in 2022, but had not said that it might be utilizing the JLR platform to develop it. Tata Motors’ high-end sport utility vehicle, the Harrier, which uses an internal combustion engine, is built on Land Rover’s D8 platform.
3.Apple saw its sales drop for a fourth straight quarter, marking its longest slide in 22 years. The company is struggling with sluggish demand and a shaky smartphone market in China. Revenue fell to $89.5 billion in the fiscal fourth quarter, which ended Sept. 30. The results suggest that Apple is facing a bigger slowdown in China than originally feared. The government there has imposed iPhone bans in some workplaces, and a new phone from Huawei Technologies is providing fresh competition.
India, though, is a bright spot. Apple had its best-ever quarter in the country after shipping over 2.5 million iPhones between July and September. TF International Securities analyst Ming-Chi Kuo estimates that Indian-made iPhones could account for 20-25% of global shipments by 2024.
In a major development in Apple’s manufacturing plans in India, Apple will start assembling the iPhone 17 in its Indian factories, before anywhere else in the world reported First Post . This is the first time that Apple will be developing the manufacturing process outside China.
4.First test for Japan’s giant fusion reactor
The world’s biggest fusion reactor fired up for the first time, creating superheated plasma in a preliminary test reported Science. The JT-60SA reactor, in Naka, eastern Japan, is four storeys high, its development is seven years behind schedule, but the makers hope to have the reactor running experiments within two years. It will only be the world’s biggest for a short time: ITER, the giant multinational reactor in France, is scheduled to begin tests in 2025. Researchers hope nuclear fusion, which is how stars produce their heat and light, will provide limitless clean energy once its many technical obstacles are overcome.
5.Only 50 countries have drinkable tap water. And even that number is up for debate.
6.I have just completed reading Adam Grant’s new book- Hidden Potential: The Science of Achieving Greater Things, and strongly recommend it.
Wharton School of Business professor Adam Grant believes it’s time to stop focusing on “natural talent.” He shares his experience growing up not feeling good at doing anything in particular and how he overcame that to achieve his highest potential.
As a kid, Wharton professor Adam Grant wanted to be a springboard diver. But he had zero talent and was told that he walked like Frankenstein. All the signs pointed toward one conclusion: Quit. Do something else. However, with an extraordinary coach and a lot of effort, he became a Junior Olympic national qualifier and an All-American diver. Fast-forward several years,and he encountered another problem: He was an awkward, muppet-like professor. With yet more effort, he became one of Wharton’s best.
Watch the attached video (and check out his book) to learn about how you can unlock your hidden potential.