TMS Ep585: Dixon Tech, new CMs, election impact on markets, dunki
Can Dixon become India's Foxconn? Who are the new chief ministers? How will elections in India, US affect markets in 2024? What does dunki mean? All answers here
Team TMS New Delhi
India’s Dixon Technologies will soon start rolling out Lenovo laptops and notebooks from its Noida factory under PLI 2.o scheme. Its subsidiary, Padget Electronics, has been awarded a manufacturing contract by the Chinese multinational. Just a few months ago, Dixon had won a contract from Xiaomi to manufacture mobile phones. Dixon clearly is on a roll. So what is behind its success?
Clearly, it is good news for the government too, as its PLI scheme has got a shot in the arm. Meanwhile, the ruling party too got a shot in the arm in the recently -concluded assembly elections. It got three out of five states which went to the polls. And all the five states have new chief minister faces, with BJP again pulling a surprise by picking three leaders from obscurity to lead states it has won. But who are the new chief ministers?
Elections also give a fillip to stock markets. Historically, the market has favored continuity and a majority government, as this implies limited policy shifts post elections. As India and the US, the world’s two major economies, prepare to go to polls in 2024, how will the outcomes affect market moves and policies?
The US presidential elections are scheduled for November 5, 2024. But going by the latest polling data, Joe Biden has the lowest approval rating of any of his predecessors. Meanwhile, over 96,000 Indians were arrested while crossing illegally into the US between October 2022 and September this year. It’s an all-time high number. In parts of India, this practice is called 'dunki'. It’s also the subject of a movie which is slated for release this month. Listen to this episode of the podcast for more on it.
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First Published: Dec 14 2023 | 9:16 PM IST