Check out 5 reasons why the Maruti Suzuki Fronx has become popular
Manufactured exclusively at Maruti Suzuki's Gujarat plant, the Fronx is now exported to more than 80 countries, including Japan, South Africa, Saudi Arabia, and key markets in Latin America and Africa. So, what exactly is driving this success? Here are five major reasons why the Fronx has become such a hit among buyers both in India and overseas:
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Mint
12 minutes ago
- Mint
P&G succession: Let's applaud the Indian diaspora's success but also look within
Next Story Mint Editorial Board Shailesh Jejurikar, an executive of Indian origin, is set to reach the top of P&G. This is good news, not 'brain drain', but comes amid a trend of outmigration that provokes a few hard questions about India's economic dynamism. Even as we celebrate success within the Indian diaspora, we must also note that it comes at a time when many successful Indians are leaving India for good. Gift this article The decision of US-based Procter & Gamble (P&G) to appoint its Mumbai-born and India-educated chief operating officer Shailesh Jejurikar as its next CEO, with effect from 2026, marks yet another triumph for Indian talent abroad. The decision of US-based Procter & Gamble (P&G) to appoint its Mumbai-born and India-educated chief operating officer Shailesh Jejurikar as its next CEO, with effect from 2026, marks yet another triumph for Indian talent abroad. Even as we celebrate success within the Indian diaspora, we must also note that it comes at a time when many successful Indians are leaving India for good, a trend that's the subject of a recent book, Secession of the Successful, by Sanjaya Baru. While we must not return to wringing hands over our 'brain drain' that once drew long sighs of dismay, nor fret about a scarcity of business leaders to create and run companies that can generate value and aid the economy's emergence, we still need to confront a lack of dynamism at home that tends to get glossed over. Although high domestic taxation is frequently cited as a reason for a tilt in favour of working abroad among those who have the luxury of choice, shouldn't a faster growing economy like ours promise greater prospects? Gross fixed capital formation has struggled to get above 30% of India's GDP, credit growth is so lukewarm that the central bank may rue opening its gusher of liquidity, and our economic expansion has slid below the 'miracle' rate of 7%. All this, even as worries arise over staff downsizing in our once-dynamic tech sector, which seems caught on the wrong foot by the onslaught of AI on its growth model of revenue rising roughly in line with recruitment. The government cannot be faulted for investing public funds to compensate for the private sector's slack. The Centre's enlarged outlay on infrastructure has not been able to 'crowd in' private investment to meet the ancillary demand created by its spending, but it has clearly held GDP growth in good stead. Given that about a quarter of India's manufacturing capacity still remains unused, perhaps the private sector could set its sights on infra projects again. Except for renewable energy, however, there is no effective policy in place for public-private partnerships in this field. These are all real hurdles in the path of faster growth. Yet, something more basic seems to be at work that's acting as a constraint. As the Nobel award of 2024 underlined, whether economies thrive or languish depends on the quality of their institutions. This may hold clues to what ails the Indian economy's quest for acceleration. We might think that economic progress in general has little to do with weak enforcement of contracts, as seen in the real-estate sector despite regulatory legislation, or with court verdicts being overturned by higher courts for flimsy evidence, as witnessed recently in the Mumbai train blasts case. We would be wrong. Also Read: Mint Quick Edit | Why are so many wealthy Indians leaving? How well our institutional framework functions is crucial to the economy's success in the long run. Critically, it could determine if India can go from low-middle-income to high-income status, a transition very few countries have achieved. As of now, India spends just 0.64% of GDP on R&D, a sum that's below the budget of a single American Big Tech company like Amazon. Even the R&D spend of P&G, which mostly markets products that address household demand in well-settled segments, is around 2.5% of its revenue. Innovations from India remain well below our potential. These are debilities to be dealt with, not swept aside by inspirational narratives. A country on the move can't expect to get very far without asking itself some hard questions. Topics You May Be Interested In Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
The Hindu
13 minutes ago
- The Hindu
Rupee slips 24 paise against U.S. dollar in early trade
The rupee slipped below the 87 per dollar level against the U.S. dollar in early trade on Wednesday (July 30, 2025) as rising crude oil prices and uncertainty over the India-U.S. trade agreement kept investor sentiments muted. Forex traders said month-end dollar demand from importers and sustained foreign fund outflows weighed on the local unit. At the interbank foreign exchange market, the rupee opened on a negative note and touched an early low of 87.15 against the American currency, registering a fall of 24 paise over its previous close. On Tuesday (July 29), the rupee declined to an over four-month low level and closed 21 paise weaker at 86.91 against the U.S. dollar. Brent oil prices rose 0.11 per cent to $72.59 per barrel, as potential supply shortages came into focus after U.S. President Donald Trump again reiterated that he would start imposing measures on Russia, including a 100 per cent tariff on its secondary oil buyers if Russia did not end the war in 10-12 days. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.11 per cent to 98.77. "Trump said that India faces tariffs to the extent of 20-25 per cent, which is much more than India and markets were anticipating, thus taking the rupee beyond 87 levels after a weak close at 86.81 on Tuesday," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. Mr. Trump has said the trade deal with India is not finalised, as he stressed that India imposes more tariffs than almost any other country. Asked if the deal with India has been finalised, he said, 'No, it's not,'. He was also asked about reports that India is preparing to face higher US tariffs between 20-25 per cent, to which he replied, "I think so." Meanwhile, in the domestic equity market, Sensex advanced 126.27 points or 0.16 per cent to 81,464.22, while Nifty rose 45.90 points or 0.18 per cent to 24,867.00. FIIs offload over ₹4,600-cr worth equities Foreign institutional investors (FIIs) offloaded equities worth ₹4,636.60 crore on a net basis on Tuesday (July 29), according to exchange data. A U.S. team will visit India on August 25 for the next round of negotiations for the proposed bilateral trade agreement between the two countries. Though the team is coming at the end of next month, both sides remain engaged to iron out differences for an interim trade deal before August 1, which marks the end of the suspension period of tariffs imposed by on dozens of countries, including India (26 per cent). The prospects for an interim deal may look dim as U.S. Trade Representative Jamieson Greer has said that more negotiations will be needed with India on a trade pact. However, officials are not ruling out the possibility of a last-minute breakthrough. Indian exporters may face an additional duty of 16 per cent - on top of the existing 10 per cent, if the August 1 deadline is not extended further or an interim deal is not reached between the two countries.
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Business Standard
13 minutes ago
- Business Standard
SBI leads $9.2 bn QIP spree as firms tap market rally to raise funds
State Bank of India's recent record offering is leading a summer onslaught of a fast-tracked type of share sale as local companies take advantage of this year's stock-market rally to raise funds. About 40 Indian firms, led by banks, announced plans in July to raise more than ₹80,000 crore ($9.2 billion) via qualified institutional placements, according to data compiled by That may put Indian QIPs, which are only offered to professional investors, on track for one of their biggest years on record. QIPs have become a popular way for local companies to raise funds fast — these deals can be executed within weeks, instead of the months it usually takes to carry out public offerings in India. After the country's benchmark index climbed every month from March through June, optimism is running high that institutional investors will continue to snap up such deals. 'Robust secondary markets and ample liquidity have created conducive conditions for fundraising,' said Amrendra Singh, group head of equity capital markets at SBI Capital Markets Ltd. 'Banks are raising money to meet capital requirements, while companies are looking to improve their finances and fund future growth.' But the more companies issue shares via initial public offerings or QIPs, the higher the risk they will suck up money that would have otherwise gone to the stock market. India's benchmark Nifty 50 Index has pulled back some its gains in recent weeks amid concerns over things such as tariff negotiations, putting the gauge on track for a decline in July. That didn't deter investors from flocking to SBI, India's biggest lender. Bids for SBI's sale amounted to ₹1 trillion, or four times the ₹25,000 crore of shares being offered, people familiar with the matter have said. More than 10 other lenders, including Axis Bank Ltd., IDBI Bank Ltd. and IndusInd Bank Ltd., have announced plans to raise a total of more than ₹50,000 crore, according to the data compiled by Beyond banks, firms such as Reliance Power Ltd., Reliance Infrastructure Ltd. and Amber Enterprises India Ltd. have also announced fundraising plans. 'Companies are preparing to use this window to raise capital at higher valuations,' said Pranav Haldea, managing director at Prime Database Group. 'The QIP route offers companies a fast-track option to mobilise funds, while providing institutional investors an opportunity to acquire sizable stakes at a predetermined price.' This year, 25 companies have raised ₹56,100 crore via QIPs, according to data compiled by primedatabase. Though it may be difficult for this year's tally to exceed 2024's record ₹1.36 trillion raised through this type of offering, recent announcements indicate this year's total could surpass the ₹80,800 crore raised in 2020. QIPs are offered to large professional investors, allowing listed issuers to bypass the regulatory scrutiny and marketing typically needed for follow-on public offerings, shaving months off the process.
