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INDIA: Country Wrap:  Ford to Make Engines in Chennai. 

INDIA
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  • US automaker Ford is understood to have finalized plans to use its mothballed factory near Chennai to manufacture and export engines and related components.  (source: Economic Times)
  • The satellite communication company owned by Elon Musk intends to establish three gateways — in Mumbai, Pune, and Indore — along with a point of presence in Mumbai to serve the Indian population. This appears to be a broader initiative and likely part of the negotiation in the US trade war narrative and local operators Bharti and Reliance are pledging to assist starlink.  (source: BBG)
  • As India’s trading day gets under way, the NIFTY 50 is opening very strong, up 1% following yesterday’s gain of +0.50%.
  • Regional currencies are having a mixed day today, yet the rupee is opening stronger, up +0.7% at 86.73.
  • Bonds remain incredible stable with the IGB 10YR at 6.69%
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  • US automaker Ford is understood to have finalized plans to use its mothballed factory near Chennai to manufacture and export engines and related components.  (source: Economic Times)
  • The satellite communication company owned by Elon Musk intends to establish three gateways — in Mumbai, Pune, and Indore — along with a point of presence in Mumbai to serve the Indian population. This appears to be a broader initiative and likely part of the negotiation in the US trade war narrative and local operators Bharti and Reliance are pledging to assist starlink.  (source: BBG)
  • As India’s trading day gets under way, the NIFTY 50 is opening very strong, up 1% following yesterday’s gain of +0.50%.
  • Regional currencies are having a mixed day today, yet the rupee is opening stronger, up +0.7% at 86.73.
  • Bonds remain incredible stable with the IGB 10YR at 6.69%