Industry News (2nd June, 2025)

India Industry Highlights 1. Government Launches Electric Vehicle Manufacturing Scheme The Ministry of Heavy Industries has introduced the "Scheme to Promote Manufacturing of Electric Passenger Cars in India" (SPMEPCI), aiming to boost domestic and international investments in EV manufacturing. The initiative outlines eligibility criteria, investment thresholds, localization and production milestones, and implementation timelines. This move seeks to reduce import dependency, create employment, and position India as a global EV manufacturing hub. 2. Rajiv Memani Appointed as CII President Rajiv Memani, Chairman and CEO of EY India, has been appointed as the President of the Confederation of Indian Industry (CII) for 2025-26. In his new role, Memani is expected to lead policy formulation, promote business development, and represent Indian industry interests both domestically and internationally. 3. Italian Companies Explore Opportunities in West Bengal Several Italian firms are seeking investment and partnership opportunities in West Bengal across sectors like machinery, automotive parts, steel, leather, textiles, and agrotech. The state's infrastructure development and favorable business environment are attracting these companies, with initiatives encouraging local MSMEs to collaborate with Italian counterparts. Global Industry Developments 1. Global Airlines Reduce 2025 Profit Forecast The International Air Transport Association (IATA) has lowered its projected 2025 profits for global airlines to $36.0 billion, down from an earlier forecast of $36.6 billion. This adjustment is attributed to trade tensions, declining consumer confidence, and ongoing aircraft delivery delays. Tariffs, particularly from the U.S., are impacting economic growth and discretionary spending, while supply chain issues are causing operational challenges and increased maintenance costs. 2. U.S. Tariffs Impact Global Dealmaking A report from Bain & Company indicates that recent U.S. tariff announcements have disrupted the recovery of global private equity dealmaking. Buyout fund acquisitions are expected to fall by 16% in Q2 compared to Q1, with April experiencing a 24% monthly drop. Asset sales by these funds are also projected to decrease by 9%, exacerbating existing industry challenges. 3. Data Center Construction Costs Threatened by New Tariff Policies The global data center market, valued at USD 379.30 billion in 2024, is projected to reach USD 627.40 billion by 2030. However, new tariff policies are threatening construction costs, potentially impacting growth. The U.S. and China currently dominate the market, contributing over 65% of the global share in 2024. 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