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Multibagger or IBC - Part 16: Regulatory tailwind turns compliance into cash. This auto ancillary could be a winner

Multibagger or IBC - Part 16: Regulatory tailwind turns compliance into cash. This auto ancillary could be a winner

Think of a long highway journey in the scorching Indian summer, where stepping into a vehicle feels like walking into an open furnace. Now imagine the cool relief that flows in when you switch on the AC. Behind that comfort lies an intricate system and that's the business this company is in.It makes the core thermal systems that help regulate temperature inside vehicles, ensuring both passengers and machines stay cool and efficient. Whether it's
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Don't politicise, belittle RM100 Sara assistance, great value for the poor, says Ramanan
Don't politicise, belittle RM100 Sara assistance, great value for the poor, says Ramanan

The Star

time20 minutes ago

  • The Star

Don't politicise, belittle RM100 Sara assistance, great value for the poor, says Ramanan

BUTTERWORTH: The provision of additional cash assistance of RM100 to Malaysian citizens, aged 18 and above, through the Basic Rahmah Contribution (Sara) programme should not be politicised, but rather seen as a form of concern for the poor, says Datuk Seri R. Ramanan. The Deputy Entrepreneur Development and Cooperatives Minister said downplaying the value of the RM100 assistance was like belittling the poor in this country because it had a great impact on the daily lives of the less fortunate. "If he is a rich man, T20, he would indeed look down on RM100, but does he know how many people in this country are in the B40 group…how much RM100 is to them and for rich people, he doesn't understand whether RM100 is a big deal or not. "Do they know how many kilogrammes of rice RM100 can buy, how many chickens it can buy? So, if the (government) initiative is good, we have to say it is good, if it is not good, we have to say it is not good, not to belittle it," he told reporters after attending the PENN 2.0 Special Fund Financing Briefing and Presentation Ceremony here Thursday (July 24) night. Explaining further, Ramanan said all parties should show empathy and understand the reality of the lives of low-income groups, especially in challenging economic conditions. Prime Minister Datuk Seri Anwar Ibrahim, who is also the Finance Minister, on Wednesday (July 23) announced several major initiatives as a sign of appreciation from the Madani government to the people, including the one-off RM100 grant under the Sara programme, the delay in toll hikes for 10 highways, and the lower RON95 petrol price subsidy at RM1.99 per litre. Meanwhile, Ramanan also said the Madani government no longer relies on a single agency such as the Malaysian Indian Community Transformation Unit (Mitra) in addressing the issues of the Indian community, but has instead introduced various high-impact programmes including financing and entrepreneurship development. According to him, the government is now implementing a more comprehensive approach involving various agencies such as the National Entrepreneurial Group Economic Fund (Tekun), Bank Rakyat, SME Bank and Amanah Ikhtiar Malaysia (AIM) specifically to empower Indians. "(It is) increasing the Prosperity Empowerment and A New Normal for Indian Women (PENN) fund from RM50mil to RM100mil, in addition to an additional RM50mil fund for the BRIEF-i programme, the Indian Community Entrepreneur Development Scheme (SPUMI) and introducing Vanigham Financing for Indian Entrepreneurs with financing of RM50mil," he said. In total, he said that a total of RM417mil had been channelled by the government specifically to implement various initiatives to empower the Indian entrepreneurial community, as of this month. Earlier, a total of 22 people received total financing involving the PENN, SPUMI, SPUMI Goes Big and BRIEF-I programmes totalling RM932,000. - Bernama

Jio BlackRock enters Indian MF market with focus on profitability and growth
Jio BlackRock enters Indian MF market with focus on profitability and growth

Economic Times

time21 minutes ago

  • Economic Times

Jio BlackRock enters Indian MF market with focus on profitability and growth

Synopsis Jio BlackRock Asset Management, a new entrant in the Indian mutual fund industry, is prioritizing profitability and capturing new market growth over aggressive pricing strategies, unlike Jio's telecom approach. The joint venture aims to offer differentiated products and leverage its tech platform, Aladdin, to reduce costs and provide competitive pricing. Agencies The industry is keeping a close watch to see if Jio BlackRock will undercut rivals in the ultra-competitive mutual fund industry. Mumbai: Jio BlackRock Asset Management, one of the latest high-profile entrants into the Indian mutual fund industry, maybe following a slightly different playbook from group entity Jio's disruptive telecom foray. The 50:50 joint venture between Mukesh Ambani-backed Jio Financial Services and the world's largest asset manager BlackRock, may not be as aggressive on its pricing strategy to grab market share, unlike Jio's sharp discounting that helped it catapult into the big league in and capturing share from new growth in a market that has grown threefold in five years will be some of its mantras. "It is not at all to just capture market share, and profitability will be important and pricing is one of the key points," said Sid Swaminathan, MD and CEO, Jio Blackrock Asset Management, in an exclusive interview with ET. "We know the market is going to grow, we want to help it grow and get a share of the new growth that is coming, rather than capture from existing incumbent players. It's the growth story we are here for," said Swaminathan, who spent close to two decades with BlackRock in various fund management capacities, before relocating to India, about a year fund house is keen to offer differentiated content, value-added products and grow the market rather than grab share from existing players, he said. One of the differentiators Jio BlackRock will bring is its proprietary tech platform Aladdin, which will help in cutting transaction costs. "That allows us some cost engineering which we will pass on to end customer which results in more competitive pricing," said Swaminathan. The industry is keeping a close watch to see if Jio BlackRock will undercut rivals in the ultra-competitive mutual fund Blackrock started operations in India this month with launch of three debt schemes that include overnight, liquid and money market funds that mopped up ₹17,800 crore in early July. There have been talks that Reliance has also invested in the NFO."I don't want to be disclosing those levels of numbers now. Point is they are a large institution. They invest in all MFs right now. We have had 90 different institutions invest, so the breadth we got is very large; it is well diversified to begin with and we continue to add more investors post the NFO," he is expected to soon launch another five index funds, including four equity and one fixed-income fund. While the fund house has started with index funds, it aims to offer the entire range of index and active funds, funds that are driven by data, exchange traded funds (ETFs), specialised investment funds (SIFs) and alternate investment funds (AIFs) over time. While the Indian mutual fund market offers both regular and direct plans, the fund house has started with only direct plans, bypassing mutual fund distributors who sell regular plans and earn a commission. 'There is a growing trend towards digital; people are comfortable doing finances on the phone; we are looking to harness that with a direct digital model and that looks like the right way to start. However, nothing is off the table and as the business grows we will evaluate and take a call,' Swaminathan said. The Indian mutual fund industry, one of the fastest growing globally, has seen assets under management expand threefold in the past five years—to Rs 74.41 lakh crore in June 2025 from Rs 25.5 lakh crore in June 2020. The industry is abuzz with speculation that Jio Blackrock will scale fast and could also look at acquisitions. 'It is too premature to look at acquisitions. We are just getting started. From a strategy perspective we want to be in a situation where we will look at the evolution of the market, how we grow, what we see changing and how we adapt with our funds and distribution. We don't want to rule anything out,' said Swaminathan. 'We want to be a significant player here in the long term, but on the path to that we will get a better idea once we spend more time in the market,' he added

Trump Cozying Up To Pakistan – Will It Push India Closer To China?
Trump Cozying Up To Pakistan – Will It Push India Closer To China?

India.com

time21 minutes ago

  • India.com

Trump Cozying Up To Pakistan – Will It Push India Closer To China?

New Delhi: A meeting in Washington last month between former U.S. President Donald Trump and Pakistan Field Marshal Asim Munir sparked concern in New Delhi. Just days earlier, a deadly terrorist attack in Pahalgam, South Kashmir, had killed 26 innocent civilians. India blamed Pakistan after a group linked to Lashkar-e-Taiba claimed responsibility. Foreign policy watchers are now weighing a critical question: could this renewed U.S.-Pakistan engagement unsettle India's fragile equation with China? For years, Beijing has served as the strategic common threat binding India and the United States. Both nations view China as a geopolitical rival and have steadily expanded cooperation to counter its influence. But Trump's warm overtures toward China-backed Pakistan are forcing India to rethink its calculus. Diplomatic experts say India is unlikely to pivot dramatically toward China based solely on the Trump-Munir meeting. Moves to de-escalate tensions with Beijing had already been set in motion months earlier. Still, the symbolism of the meeting and its implications for India's long-term strategy are difficult to ignore. Michael Kugelman, director of the South Asia Institute at the Wilson Center in Washington D.C., said the meeting must be viewed in light of recent India-Pakistan military flare-ups during Operation Sindoor. 'It is not that India is suddenly leaning toward China because of Trump's outreach to Pakistan. But the context matters, especially given that Pakistan used Chinese weapons against India for the first time during that conflict,' he explained. He added that uncertainty around U.S.-India ties under Trump remains a major concern in New Delhi. 'There is no clear indication of how Trump plans to deal with China. At times, he talks tough, at others, he calls for cooperation. India is wary of assuming that the United States will always align with its strategic interests on China.' That ambiguity, Kugelman said, is one reason India has begun hedging its bets by stabilising ties with Beijing. A Subtle Thaw Between India and China Since October 2024, signs of a diplomatic thaw have emerged. Border troops from both sides have started withdrawing from several flashpoints along the disputed Line of Actual Control (LAC). Earlier this month, External Affairs Minister S. Jaishankar met Chinese President Xi Jinping during the SCO foreign ministers' summit, marking his first visit to Beijing in six years. Direct commercial flights between India and China are set to resume. The long-suspended Kailash Mansarovar Yatra has reopened for Indian pilgrims. In a move with economic implications, the government think tank NITI Aayog has proposed allowing up to 24% Chinese equity in Indian companies without special clearance. Foreign policy commentator Indrani Bagchi believes India is proceeding cautiously. 'The government is trying to introduce a degree of stability into its relationship with China. We may see some Chinese investment flowing in, but it's unlikely to go much beyond that,' she said. She also warned against overreacting to Trump's overtures to Pakistan. 'This is not the first time Washington has leaned toward Islamabad. Whenever it does, the trust factor in U.S.-India ties takes a hit. If the United States resumes military aid to Pakistan, it will definitely raise red flags in New Delhi,' she added. At the same time, she noted, India has been attempting to diversify its defense partnerships, gradually reducing dependence on Russia and increasing procurement from the United States. 'If America is using Pakistan as a bridge to reach China, India will be forced to reassess,' she added. What Is Beijing's Game? Some former diplomats argue that if India extends a hand, China will likely respond with caution but openness. Achal Malhotra, a former ambassador, said New Delhi's foreign policy is guided by realism, not alignment. 'Our relations with China stand on their own merit. We are prudent but sovereign in our choices. The United States knows this. Trump's meeting with Munir likely reflects Pakistan's geographic utility in Afghanistan and Central Asia. Unless that directly threatens India, it is not an alarming development,' he said. Strategic analyst Zakir Hussain suggested it is U.S. inconsistency that might be nudging India toward China. 'The way Washington handles its ties with India is part of the reason New Delhi may explore a less confrontational path with Beijing. Economically, some of India's moves may lower tensions. But let us be clear that China will never abandon Pakistan for India,' he said.

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