Top Headlines: India's 1st tribal prez, Apple's vendors create 30K jobs

Fielded by NDA, Murmu got more than 70 per cent of the votes cast, and at least 20 opposition votes, winning the election by a massive margin, defeating common opposition candidate Yashwant Sinha (84). Apple’s three vendors in the country have hit the milestone of creating 30,000 new direct jobs since the production-linked incentive (PLI) scheme for mobile devices kicked off. Read more on these in our top headlines.

Droupadi Murmu makes history, becomes India's first tribal President

Fielded by NDA, Murmu got more than 70 per cent of the votes cast, and at least 20 opposition votes, winning the election by a massive margin, defeating common opposition candidate Yashwant Sinha (84) and winning voters in the electoral college with her charm, simplicity and determined conviction to protect tribal identity. Tribal chiefs from all over the country are planning to troop into Delhi to felicitate the new president when she takes oath on July 25, putting on display a new, different, iridescent India. Read more
 

43% of India Inc's foreign exchange revenue comes to IT companies

Corporate India is more dependent than before on exporters of IT services such as Tata Consultancy Services (TCS), Infosys, and Wipro for earning foreign exchange. Such companies account for nearly 43 per cent of the forex revenues of listed firms, up from 22 per cent a decade ago. The listed IT services companies earned nearly Rs 4.2 trillion through exports in FY22, up 15 per cent from the Rs 3.65 trillion a year earlier. Read more
 

Apple's vendors create 30,000 new jobs under PLI scheme in India

Apple’s three vendors in the country have hit the milestone of creating 30,000 new direct jobs since the production-linked incentive (PLI) scheme for mobile devices kicked off in April 2021. Based on the government’s estimate, Apple’s vendors, Foxconn Hon Hai, Wistron and Pegatron, are close to creating 100,000 direct and indirect jobs. Read more
 

Tata group firms in talks with banks to raise funds for Rs 60K capex plan

The Tata group companies are in talks with leading banks and equity investors to raise funds for their capital expenditure (capex) plan of worth Rs 60,000 crore in the current financial year. Led by Tata Motors, group companies, including Tata Power and Tata Steel, are planning to invest in electric vehicles (EVs) and renewable energy. Read more 
 

Sunak's promises to keep: ex-chancellor's likely agenda if he becomes UK PM

Rishi Sunak, the Conservative Party MP, is the top contender for the party’s leadership, and thus to be the next Prime Minister of UK. Sunak, a former Chancellor of the Exchequer, Wednesday secured 137 party votes compared to the 113 for foreign secretary Liz Truss. The two will battle it out in the last stage of the contest to replace Boris Johnson as PM. Read more
 

Prepping for tokenisation deadline, UPI transaction failures decline

Last month, the Reserve Bank of India (RBI) extended the deadline for card tokenisation by another three months till September 30. The central bank decided against the July 1 deadline as the implementation was mired in problems, and not all payment players were ready with tokenisation. All companies would have to purge stored card information once tokenisation is implemented. Read more