India is advocating for the Financial Action Task Force (FATF) to reduce compliance requirements for cross-border payments made through its Unified Payment Interface (UPI), a homegrown system launched in 2016. UPI has become a dominant player in the domestic retail payments sector, accounting for 83% of India's digital payments volume in 2024, up from 34% in 2019. The government aims to increase UPI's use for cross-border payments, which could enhance its competitiveness in the global market.

One Equity Partners has completed a minority investment in Gruppo Siti B&T, an Italian manufacturer of ceramic machinery and services provider. Gruppo Siti B&T, founded in 1961 and headquartered in Formigine, Italy, specializes in turnkey plants and machinery for the ceramic and quartz industry. The investment aims to support Gruppo Siti B&T's growth and expansion through both organic and strategic acquisitions.

Jakir Khan, an Indian farm worker, reports a significant drop in his income due to fewer job opportunities, leading to reduced consumption and increased debt. Reuters interviewed nearly 50 families in rural areas of Uttar Pradesh, Odisha, and West Bengal, and 85% of them reported stagnant or lower incomes compared to pre-pandemic levels. India's economic growth is uneven, with rural areas facing challenges due to lower farm output, high inflation, and limited job opportunities, while urban areas are experiencing prosperity.

Bharti Airtel Ltd., India's second-largest wireless operator, reported a lower-than-expected quarterly profit due to a one-time charge and a slowdown in revenues from Africa. Net income fell 38% to 13.4 billion rupees ($161 million) for the quarter ended September 30, 2023.

The initial public offering (IPO) of PT Amman Mineral Internasional, an Indonesian miner, has created at least six billionaires and significantly increased the wealth of an existing one. The company's stock has risen 269% since its debut in July, making it one of the best-performing IPOs globally. Key shareholders include Agus Projosasmito, Alexander Ramlie, and others with connections to the Salim Group. This event highlights the wealth creation potential in Indonesia's mining sector.