Vantage Point by EMVC - Apr 25 2025
Updates to keep up with the latest in fintech from our vantage point.
Welcome back,
Bloomberg earlier reported that Apple assembles 1 in 5 iPhones in India. Moody’s expects US tariffs to have a modest impact on India. 360 One WAM is acquiring UBS’ wealth management business in India. There is also an interesting weekend read from Gates Foundation.
From the team at Emphasis Ventures.
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Apple assembled $22Bn worth of iPhones in India in the latest fiscal year. As per Bloomberg, the company increased its production in the country by 60% over the previous year with 1 in 5 iPhones in the world now being produced in India.
Moody's Ratings in its recent report expects India to be only moderately impacted by the new US tariffs. It mentioned that India is relatively better positioned than major Asian manufacturing hubs like China, Taiwan and South Korea; although its GDP growth might slightly slow down to a range of 5.5–6.5% from its earlier estimate of 6.6%.
Bain Capital backed 360 One WAM is acquiring UBS' wealth management business in India for $36mm. UBS manages close to $3Bn in assets via its wealth advisory arm in India.
Weekend read: What happens to an economy with Digital Public Infrastructure - By Gates Foundation. "...DPI crisscrosses the economy, connecting people, data, and money in the same way that roads connect people and goods....India's experience is illustrative. The Aadhaar digital ID system cost roughly US$1.5 billion to implement, but it enabled the government to save more than $42Bn through reduced fraud, error, and leakage in public benefit programs. In banking, the cost of verifying a customer’s identity fell from $10 - $12 to about $0.20 - making it feasible to serve millions more people, especially in low-income and remote settings..."
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