Jio Financial, Blackrock form JV (Representative Image)
Good Morning, Daybreakpost Readers!
HERE IS WHAT YOU NEED TO KNOW FROM INDIA
India’s exports in FY24 dip by 3.11% due to falling commodity prices and geopolitical issues, but March records highest monthly exports. Trade deficit at 11-month low in March, aided by import decline.
Jio Financial-BlackRock JV to launch wealth management, broking business. Their mutual fund venture awaits regulatory approval. The JV aims to tap into India’s growing financial market.
ProcMart, a B2B marketplace, secures $30 million in Series B funding led by Fundamentum. Plans expansion into new industries, strengthens international operations, and focuses on AI-powered efficiency.
Tesla forms discreet pact with Tata Electronics for semiconductor chips, boosting India’s ambitions, as per ET report. Elon Musk expected to announce local EV production during India visit. EV sales to surge 66% in 2024.
Nasscom-Avasant study shows India as top choice for global firms outsourcing digital services, with over 50% opting for it. 90% of companies plan increased investments in AI, ML, and cybersecurity.
HERE IS WHAT YOU NEED TO KNOW FROM THE WORLD
Hong Kong is behind Bitcoin’s latest revival. The cryptocurrency rebounded yesterday after Hong Kong approved its first spot Bitcoinand Ether exchange-traded funds (ETFs).
OpenAI is expanding into Asia. Its first office on the continent will be in Tokyo, and Japanese businesses will get early access to a custom GPT-4 model.
Tesla plans to cut “more than 10 percent” of its global workforce due to a slowdown in electric vehicle demand. CEO Elon Musk cited duplication of roles amid rapid growth.
INFOGRAPHICS OF THE DAY
International crude oil prices surged to their highest level in five months this week after the Organization of the Petroleum Exporting Countries and its allies (Opec+) decided on 3 April to keep the supply policy unchanged until mid-2024.
Closing price of Brent crude oil (in $/barrel)
Source: Yahoo Finance, Livemint analysis
QUOTE OF THE DAY
“The only way to discover the limits of the possible is to go beyond them into the impossible”
Arthur C. Clarke, Noted British writer, scientist, and underwater explorer
BEST WISHES FOR YOUR PRODUCTIVE DAY!
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