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INDIA: Country Wrap:  Tesla to Invest  in India.

INDIA
IndiaEM BulletBulletAPACEmerging Market News
  • Tesla announced it is hiring in India following the US/India summit, after CEO Elon Musk met Prime Minister Narendra Modi in the US.  India has reduced its basic customs duty on high-end cars from 110% to 70%, making it a more viable market for Tesla. (source: BBG)
  • Commerce and Industry Minister Goyal hinted that India and the US have agreed to increasing bilateral trade by up to USD500bn (source: PTI)
  • After eight straight trading sessions of losses, yesterday’s gain was hoped to be the start of something new, but to no avail. NIFTY 50 opening up -0.60% down, erasing yesterday’s gain.
  • INR:  the rupee is under pressure again, down -0.09% this morning, and down -.145% over the last 5 trading days.
  • Bonds: India’s 10YR seems impervious to the moves in equity markets remaining steadfast at 6.69%. 
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  • Tesla announced it is hiring in India following the US/India summit, after CEO Elon Musk met Prime Minister Narendra Modi in the US.  India has reduced its basic customs duty on high-end cars from 110% to 70%, making it a more viable market for Tesla. (source: BBG)
  • Commerce and Industry Minister Goyal hinted that India and the US have agreed to increasing bilateral trade by up to USD500bn (source: PTI)
  • After eight straight trading sessions of losses, yesterday’s gain was hoped to be the start of something new, but to no avail. NIFTY 50 opening up -0.60% down, erasing yesterday’s gain.
  • INR:  the rupee is under pressure again, down -0.09% this morning, and down -.145% over the last 5 trading days.
  • Bonds: India’s 10YR seems impervious to the moves in equity markets remaining steadfast at 6.69%.