Legal and Policies
AIBI unveils nine game-changing initiatives
Mumbai: Association of Investment Bankers of India (AIBI), the investment bankers’ sole representative body to SEBI and various statutory authorities, has unveiled nine game changing initiatives at AIBI’s Annual Convention 2023-24. The Annual Convention was centered on the theme ‘Ease of Capital Formation’ in India. Securities and Exchange Board of India chairperson Madhabi Puri Buch launched a few of these initiatives.
Aimed at raising the investor awareness while promoting financial literacy, a total of four initiatives were unveiled namely:
- Investor Section on AIBI Website
- An Aggregated Live Database of Current ECM Issuances
- Videos of upcoming IPOs
- Animated Video for Investors on ‘Know IPO Investing’
Similarly, three initiatives such as standard practice manual for IPO offer documents; revamped AIBI due diligence manual; and compendium of AIBI advisories were unveiled, aiming towards building capacity, strengthening the institution of merchant banking, and achieving ease of doing business in capital formation.
Additionally, AIBI is also focusing on creating a robust investment culture in India, making it their brand tagline. AIBI Mascot called AIBI Chankakya – The Investment Banker was also unveiled to boost the visibility of AIBI.
“India is not only making headlines but also leading the global charge in capital formation, boasting the highest number of public offerings in CY 2023. About INR 1.5 lac crores of equity funds garnered through IPO & Post-IPO transactions. In another global showcase, Indian IPOs have performed well post-listing. More than 90 % of the new issuances in India during CY23 stand at a premium to the IPO price. In contrast, more than 60 % of new entrants are below IPO price in the USA. Interestingly, the average Indian IPO multiple in CY23 was 35 as against the related average Industry PE multiple of 63.” expressed AIBI chairman & Pantomath Capital Advisors MD Mahavir Lunawat.
Lunawat further added, “With a galloping economy, a sizable population, and a robust regulatory framework, India has become the most desirable location for investors looking to capitalize on the nation’s potential. The Indian capital market has consistently advanced as one of the most resilient marketplaces globally, providing impetus to the much-needed capital formation process. On the sidelines of these developments, the nine launches in capacity building of merchant bankers, promoting investor awareness, and achieving ease of doing business in capital formation are well-timed.”
Adding to it, Association of Investment Bankers of India advisor Prithvi Haldea said, “For the Indian capital market to grow into the next orbit. it is pivotal to review and improve the ecosystem to cater to the issuers and merchant bankers. The 9 initiatives are aimed at offering a transparent, information exchange platform powered by AIBI, enabling investors and merchant bankers to make informed decisions.”
Entrepreneurs, investors, fund managers, investment bankers, other experts, regulators, and academia participated in the convention. They deliberated on a variety of themes related to ease of capital formation, investing culture, and the ease of entry and exit of investors.
Legal and Policies
‘The India deal is on…’: India tariffs cut to 10% from 18% after Trump’s SC defeat
In response, Trump rolls out blanket 10 per cent tariff, “effective almost immediately”
WASHINGTON: The White House said on Friday that US trading partners, including India, will face a flat 10 per cent tariff after the Supreme Court struck down President Donald Trump’s use of emergency powers to impose sweeping import duties. Countries that reached tariff agreements with Washington, both before and after Trump’s original orders, will now be subject to the same 10 per cent levy, even if higher rates had previously been agreed.
The ruling invalidated Trump’s reliance on a 1977 law to levy sudden, country-specific tariffs, dealing a sharp blow to one of his signature economic policies. Within hours, the administration responded by certifying a new, across-the-board 10 per cent duty on imports into the United States.
In response, Trump announced an additional blanket 10 per cent tariff on all imports into the United States, signing a new order and saying on social media that it was “effective almost immediately”, after a year in which his administration had imposed varying duties to reward allies and punish rivals.
According to a White House factsheet, the new levy will take effect on 24 February and remain in force for 150 days. Exemptions will continue for sectors under separate investigations, including pharmaceuticals, and for goods entering the US under the US-Mexico-Canada Agreement.
A White House official told AFP that the administration would seek ways to “implement more appropriate or pre-negotiated tariff rates” at a later stage, signalling that country-specific arrangements could return through alternative legal routes.
The move directly affects India, which earlier this month announced a framework for an interim trade agreement with the United States. That arrangement followed Trump’s decision to lift 25 per cent punitive tariffs linked to India’s purchases of Russian oil and cut reciprocal duties from 25 per cent to 18 per cent. Under the new regime, Indian exports to the US will instead face the flat 10 per cent rate.
Trump insisted the Supreme Court verdict would not disrupt the India-US trade deal. “Nothing changes,” he said, adding that India would continue to pay tariffs while the United States would not.
“They’ll be paying tariffs, and we will not be paying tariffs. So the deal with India is they pay tariffs… It’s a fair deal now,” Trump said, describing the shift as a “flip” from past arrangements. “The India deal is on… all the deals are on—we’re just going to do it in a different way.”
Earlier on Friday, the Supreme Court ruled six to three that the International Emergency Economic Powers Act does not authorise a president to impose tariffs. Chief justice John Roberts said the law contained “no reference to tariffs or duties” and did not grant such “extraordinary power”.
Trump reacted angrily, accusing the court, without evidence, of foreign influence and claiming the ruling left him “more powerful”. Treasury secretary Scott Bessent later said the administration’s alternative approach would leave tariff revenues “virtually unchanged” in 2026.
The decision does not affect sector-specific duties on steel, aluminium and other goods, nor ongoing investigations that could lead to further levies. Still, it marks Trump’s most significant Supreme Court defeat since returning to the White House.
Markets reacted calmly, with Wall Street shares edging higher. Business groups welcomed the ruling, while uncertainty remains over whether companies will receive refunds for tariffs already paid. Analysts estimate potential refunds could reach $175 billion, though legal clarity is lacking.
