DailyWorld News - The First International Newspaper From India https://dailyworld.in/ Wed, 19 Nov 2025 11:39:25 +0530 en https://dailyworld.in/business/govt-commitment-to-foster-a-world-class-aviation-ecosystem-rammohan-naidu-649221.html New Delhi Nov 18 The Indian government is committed to fostering a worldclass aviation ecosystem Union Civil Aviation Minister Kinjarapu Rammohan Naidu said on Tuesday The minister while addressing the 11th PHDCCI Global Aviation and Air Cargo Conclave 2025 here emphasised initiatives for expanding air cargo capacities and advancing Maintenance Repair and Overhaul MRO facilities to position India as a regional hubThe event themed Gateway to the Skies Elevating Indiaâs Aviation Air Cargo and MRO Ecosystem for Global Leadership commenced its inaugural session on Tuesday at Yashobhoomi Dwarka DelhiOrganised by the PHD Chamber of Commerce and Industry PHDCCI the event ran concurrently with INDIAIRPORT2025 from November 1820 drawing industry stalwarts policymakers and innovators to discuss strategies for bolstering Indias position in the global aviation landscapeEarlier last month the minister said that the government aims to have 350 airports by 2047 India currently operates 164 airports and aims to add approximately 200 more by 2047 he said adding that the challenge is not about constructing airports but about how to bring in more aircraft to IndiaThe renovated T2 terminal will resume operations on Sunday after being closed since April 2025 for extensive renovationThe Aviation Minister said that the upgrade of Delhiâs T2 terminal is key to a larger plan to establish India as an international aviation hubAcknowledging the sharp increase in traffic at Indias largest airport Naidu said that the Delhi airport is targeting a 120 million capacity and the T2 expansion is projected to increase capacity by approximately 15 million seatsHe further stated that a âthorough investigationâ is being done into the AI171 crash for which a timeline cannot be given IANS https://dailyworld.in/business/govt-commitment-to-foster-a-world-class-aviation-ecosystem-rammohan-naidu-649221.html Wed, 19 Nov 2025 01:14:00 +0530 https://dailyworld.in/business/centre-approves-17-new-applicants-under-pli-scheme-for-textiles-649224.html New Delhi Nov 18 The Ministry of Textiles has approved 17 new applicants under the Production Linked Incentive PLI Scheme for Textiles in the third round of selection This significant step is set to further accelerate investment boost domestic manufacturing and enhance Indiaâs global competitiveness in the manmade fibre MMF apparel MMF fabrics and technical textiles sectors according to an official statement issued on TuesdayThe newly approved applicants have committed a total investment of Rs 2374 crore The proposed projects are expected to achieve projected sales of over Rs 12893 crore and generate employment for about 22646 persons in the coming years the statement saidThe PLI scheme for textiles was notified on September 24 2021 with an approved outlay of Rs 10683 crore to promote the production of MMF apparel and fabrics and products of technical textilesThe Scheme aims to enable the textile industry to achieve the necessary size and scale become globally competitive and create substantial employment opportunities Under the first two rounds of selections a total of 74 applicants have been approved under the SchemeRecently the Ministry has notified major amendments to the Scheme to further enhance industry participation The online application portal has been reopened for acceptance of new applications till December 31 2025Interested companies can apply for participation in the Scheme at httpsplitexmingovinWith investments exceeding Rs 176 lakh crore and major gains in output exports and employment generation the Centreâs Production Linked Incentive PLI Scheme has played a key role in transforming India from a country that was heavily reliant on imports to a serious contender in global manufacturing according to official figuresBy backing sunrise sectors powering innovation and anchoring global supply chains closer to home the PLI schemes are strategically strengthening Indias manufacturing baseThe production impact has been remarkable with total sales by PLI participants exceeding Rs 165 lakh crore reflecting impressive growth in key sectors such as textiles electronics pharmaceuticals and automotiveThe PLI initiative has also emerged as a major job creator generating over 12 lakh direct and indirect employment opportunities while simultaneously fostering additional ecosystem development across Tier2 and Tier3 cities Importantly the scheme has catalysed a fresh wave of FDI into the country endorsing India as a preferred destination for highvalue manufacturing in an evolving global scenario IANS https://dailyworld.in/business/centre-approves-17-new-applicants-under-pli-scheme-for-textiles-649224.html Wed, 19 Nov 2025 01:16:00 +0530 https://dailyworld.in/business/cloudflare-outage-hits-x-and-several-digital-platforms-globally-including-india-649239.html New Delhi Nov 18 Thousands of users of X the Elon Muskowned microblogging platform faced service disruption across India and globally on Tuesday along with other websites which rely on Cloudflareâs internet infrastructure to stay online Around 520 pm over ten thousand users reported the outage demonstrating the extent of the disruption according to Down Detector which monitors downtime on wellknown platforms Users are facing issues related to feed website log in and server connection issues account for the majority of the issuesCloudflare confirmed in its initial update that it was âaware of and investigating an issue which potentially impacts multiple customersâ though it did not share a cause or a timeline for a fixSome pages loaded on refresh but most users continued to see an âinternal server error on Cloudflareâs networkâ asking them to try again laterThe outage tracking portal Down Detector also struggled to load because it also relies on CloudflareEarlier in May this year the social media platform suffered an outage globally including in India as users were unable to load new posts and were unable to log in According to Downdetector thousands of users struggled to access Xs webpages as well as had issues with the app and login pageWhile 41 per cent of users said they were unable to log in the same number of users reported problems with the X app and 18 per cent with the website The company had yet to reveal the reason behind the outage the second within 24 hoursSeveral users in India tried to use the website but were unable to access it According to Downdetector more than 5000 users worldwide reported issues with the microblogging platform IANS https://dailyworld.in/business/cloudflare-outage-hits-x-and-several-digital-platforms-globally-including-india-649239.html Wed, 19 Nov 2025 01:31:00 +0530 https://dailyworld.in/business/indias-gdp-to-grow-72-pc-in-fy26-driven-by-rate-cuts-public-capex-649244.html New Delhi Nov 18 Indiaâs economy is expected to grow 72 per cent in fiscal 2026 driven by rate cuts regulatory measures strong monsoon government capex and surplus liquidity a report said on Tuesday Some impacts from GDP deflators are expected to fade in FY27 taking real GDP growth to 65 per cent and nominal growth pace back towards 10 per cent the report from Development Bank of Singapore DBS saidThe report said that the room for aggressive RBI rate cuts is limited amid firm growth and an inflation undershoot However it added that a clear case for reductions could emerge in Q4CY25 if forward risks to growth appear with prevailing low inflation providing them with the necessary roomWe expect support from homegrown levers such as rate cuts transmission of past reductions regulatory measures support for tariffhit sectors strong monsoon low inflation government capex spending and surplus liquidity to offset the negative impact from global uncertainties it saidThe central bankâs support is necessary for foreign exchange and bond markets via open market operations and through ongoing secondary market purchases it notedA USIndia trade deal announcement will trigger a brief relief rally in the currency according to the bankCPI easing is being driven by favourable base effects benign energy prices and indirect tax cuts even as the core inflation trend has been firm due to precious metals said Radhika Rao Executive Director and Senior Economist at DBS BankThe bank forecasted the current account deficit to remain benign close to 09 per cent of GDP in FY26 and 1 per cent in FY27The government will meet the FY26 fiscal deficit targets amid recent sovereign rating upgrade fiscal health and moderation in public debt levels the report said IANS https://dailyworld.in/business/indias-gdp-to-grow-72-pc-in-fy26-driven-by-rate-cuts-public-capex-649244.html Wed, 19 Nov 2025 01:35:00 +0530 https://dailyworld.in/business/recruitment-drive-in-himachal-pradesh-to-hire-delivery-riders-for-uae-649245.html Shimla Nov 18 In a bid to employ the youth and residents of Himachal Pradesh a special drive has begun in the state under which the candidates willing to work abroad particularly in the Gulf are being selected and shortlisted for their appointment as delivery riders with a fixed remuneration The initiative has begun at the behest of the Himachal Pradesh governmentThe Himachal Pradesh State Electronics Development Corporation Limited HPSEDC a state government undertaking has initiated the recruitment process for delivery rider positions in the United Arab Emirates UAE This recruitment is being conducted through the JSDC Group of Companies for Noon Food LLC which will involve grocery and food delivery servicesAccording to the recruitment selected candidates will receive a total monthly salary of AED 2500 plus commission and tips which is approximately Rs 70000 to Rs 100000 in Indian currencyCandidates will be required to perform 10 hours of work per day and work six days a weekSharing the details about recruitment and fixed remuneration the District Employment Officer Chamba Arvind Singh Chauhan stated that this initiative by HPSEDC provides a great opportunity for youth to access highpaying employment abroad through safe and reliable meansThe Himachal government is offering a great opportunity for youth seeking jobs abroad Selected candidates for delivery rider positions in the UAE will receive a fixed salary of around 2500 AED along with commissions and tips he added while urging the interested candidates to take advantage of the opportunityEligibility and RequirementsMinimum Qualification 10th pass with basic English knowledgeExperience Both freshers and experienced candidates can applyAge Limit 20 to 37 yearsOnly male candidates are eligibleWhatâs acceptable and whatâs notAccording to the details shared by HPSEDC the following conditions are mandatory for the opportunityVisible tattoos on the face and neck are not acceptedCandidates with colour blindness are not acceptedA cleanshaven appearance is required although turbaned candidates are acceptableWearing a helmet is mandatoryAn Indian driving license is required a UAE license will be available upon joining IANS https://dailyworld.in/business/recruitment-drive-in-himachal-pradesh-to-hire-delivery-riders-for-uae-649245.html Wed, 19 Nov 2025 01:36:00 +0530 https://dailyworld.in/business/piyush-goyal-urges-industry-leaders-to-focus-on-making-india-a-manufacturing-hub-649246.html New Delhi Nov 18 Commerce and Industry Minister Piyush Goyal on Tuesday urged industry leaders to focus on making India a domestic industrial manufacturing hub to help achieve the goal of Viksit Bharat Addressing the curtain raiser of FICCIs annual general meeting here the minister further stated that India Inc must become selfreliant with a focus on quality products converting young kids into a skilled workforce along with creating an investmentfriendly ecosystem and adopting the latest cuttingedge technologyHe also said The government brought two editions of the Jan Vishwas Bill and we have already readied the third version of the Jan Vishwas Bill to decriminalise all the provisions of law to make life easier for businesses and for the common manApplauding FICCI on its 98 years of policy advocacy Goyal said that ever since the inception of FICCI selfreliance has been a very important element of whatever the business chamber advocates and stands forThe Minister also mentioned that when FICCI celebrates 100 years in 2027 we should aspire to be the thirdlargest economyThe Union Minister said that the governments performance has transformed from Virasat to Vikas and then Vishwaas It is the politics of trust that is powering India towards becoming a developed nation he addedHighlighting five key expectations from industry he appealed to industry bodies like FICCI to closely audit the results of their advocacy effortsThe Union Minister also emphasised the need for setting bolder goal targets followed by learning from other countries particularly Korea and Sweden which have strong models for industrial growth and business facilitation Besides he urged FICCI to expand its presence beyond major cities and reach Indias remote regionsIndustry bodies should not remain confined to elite business circles but must widen their engagement to support growth across the country he added and urged FICCI to become what he described as an uncomfortable leader that challenges itself and helps push India toward excellence the minister addedFICCI president Harsha Vardhan Agarwal said that India continues to grow at above 7 per cent the fastest among major economies contributing nearly onesixth of global growth But what makes this phase transformative is that Indias progress is increasingly driven by domestic capability creation built on policy stability and confidence IANS https://dailyworld.in/business/piyush-goyal-urges-industry-leaders-to-focus-on-making-india-a-manufacturing-hub-649246.html Wed, 19 Nov 2025 01:37:00 +0530 https://dailyworld.in/business/centre-launches-digital-initatives-to-strengthen-food-storage-logistics-amp-public-distribution-systems-649255.html New Delhi Nov 18 Union Minister of Consumer Affairs Food and Public Distribution Pralhad Joshi launched a suite of digital initiatives to modernise warehousing streamline supply chains and boost transparency across the Public Distribution System a report said on Tuesday Such initiatives support the Union governments mission of reducing logistics costs and minimising turnover time the Union Minister said according to an official statementThe centrepiece of these digital initiatives launched is Central Warehousing Corporations new ERP platform Bhandaran 360 built on SAP S4HANA and integrating 41 modules covering HR finance marketing warehouse management contract management project monitoring and other core functions the statement saidIt is also linked with 35 external systems including ICEGATE port systems FCI NAFED NCCF and WDRA enabling seamless digital connectivity across the food storage and movement ecosystemBhandaran 360 introduces single signâon roleâbased access endâtoâend encryption audit trails and realâtime dashboards to improve security and reduce manual dependency and to show operations from the warehouse level to the corporate levelIt also introduced automated workflows using chatbots and robotic process automation to improve turnaround time the statement addedThe upgraded platform also adds several new features such as a lead and marketing management module integrated HRMS project planning SAP FICO smart material management biometric and geotagged attendance a mobile app for measurement books and strengthened contract monitoringThese enhancements standardise operations across all CWC warehouses and support faster expansion better service quality and improved accountabilityIt helps ease of doing business and ease of living for farmers FPOs cooperatives traders MSMEs and large enterprises including ecommerce playersThe Food Corporation of India FCI also rolled out ANNA DARPAN a new microservicesbased platform that replaces the existing Depot Online SystemANNA DARPAN connects key activities such as procurement storage movement sales quality checks labour management and contract monitoring under one integrated system IANS https://dailyworld.in/business/centre-launches-digital-initatives-to-strengthen-food-storage-logistics-amp-public-distribution-systems-649255.html Wed, 19 Nov 2025 01:52:00 +0530 https://dailyworld.in/business/nfra-launches-webinar-series-to-create-better-financial-reporting-ecosystem-649268.html New Delhi Nov 18 The National Financial Reporting Authority NFRA the independent regulator for Audit and Accounting matters on Tuesday launched another regulatory tool âWebinar Series 202526â The initiative supports enhancing the overall quality of the financial reporting ecosystem in India comparable to global benchmarksThis tool of webinars is in continuation of NFRAâs larger project to connect with and support the key stakeholders in the financial reporting supply chain by way of various types of outreach programmes such as audit workshops Audit Practice Toolkits and AuditorAudit Committee Interaction seriesThe launch of Webinar Series 202526 will be formally inaugurated by Chairperson NFRA Nitin Gupta on November 26 on the topic âImpairment of Assets under Ind AS 36âThe Webinar Series 202526 will cover complex accounting areas that involve significant management estimates and judgments therefore requiring elevated professional scepticism on the part of the auditorsAccordingly the Webinar Series is structured suitably to cover both Accounting and Auditing considerations and thereby support both the Preparers and Auditors especially the small and medium practitionersAccounting aspects will be dealt with by relevant professionals of the subject matter such as valuation experts risk management expertsOver the next four months NFRA plans to conduct webinars in other areas of critical Accounting and Auditing matters such as revenue recognition over a period of time expected credit loss etcAuditors Accountants and Independent Directors are invited to support the deliberations in these webinarsMeanwhile the Income Tax Department will notify new incomeâtax return ITR forms and related rules under the streamlined Income Tax Act 2025 by January and the updated regulations will be effective from April 1 2026The updated regulations will mark the transition from the nearly sixdecadeold Income Tax Act of 1961 multiple reports cited Central Board of Direct Taxes chairman Ravi Agrawal as sayingAgrawal said the department is designing the new forms keeping them simple and easy to comply with and adapt to IANS https://dailyworld.in/business/nfra-launches-webinar-series-to-create-better-financial-reporting-ecosystem-649268.html Wed, 19 Nov 2025 02:05:00 +0530 https://dailyworld.in/business/sidbi-bank-of-baroda-join-hands-to-step-up-credit-flow-to-msmes-startups-649270.html New Delhi Nov 18 Small Industries Development Bank of India SIDBI and Governmentowned Bank of Baroda on Tuesday signed a Memorandum of Understanding MoU to jointly enhance credit flow expand working capital access and strengthen financial support for MSMEs and startups across India The key areas of partnership under the MoU include credit delivery support through the combined strengths of SIDBIâs MSME focus and Bank of Barodaâs wide branch network BOB will also operationalise its working capital platform for SIDBIsanctioned borrowers to ensure seamless techenabled working capital supportThe MOU provides for structured support to startups through coordinated interventions of SIDBIâs venture debt programme and Bank of Barodaâs startup banking solutions including financial products advisory and customised offeringsBesides it will enable MSMEs and highgrowth startups to benefit from Bank of Barodaâs global network offering exportrelated banking support market access insights and international banking solutionsJoint programs for MSME clusters incubators accelerators and startup ecosystems across the country have also been included in the MoUThe MoU for the partnership was signed in the presence of M Nagaraju Secretary Department of Financial Services DFS Manoj Mittal CMD SIDBI Lalit Tyagi and Lal Singh Executive Directors Bank of Baroda and other senior officialsIn his keynote address on the occasion Nagaraju said âThis partnership brings together the strengths of a dedicated MSME development institution and a large commercial bank to build a stronger credit ecosystem for MSMEs and startups By combining SIDBIâs innovative financing models with Bank of Barodaâs national and international reach this MoU will help enterprisesâboth traditional and newageâaccess timely working capital scale operations and integrate into global value chainsâDuring the event the Secretary DFS also handed over the sanction letters under the SIDBIBOB memorandum of understanding to MSME customersSIDBI CMD Manoj Mittal said âFor 35 years SIDBI has shaped the MSME and startup financing landscape through direct indirect and digital interventions This MoU deepens our ability to jointly support MSMEs as well as highpotential startups through venture debt digital credit and coordinated working capital solutions We see this as a powerful opportunity to accelerate Indiaâs enterprise growth narrativeâ IANS https://dailyworld.in/business/sidbi-bank-of-baroda-join-hands-to-step-up-credit-flow-to-msmes-startups-649270.html Wed, 19 Nov 2025 02:07:00 +0530 https://dailyworld.in/business/sbi-chairman-pitches-for-national-financial-grid-to-unify-credit-and-digital-infrastructure-649276.html Mumbai Nov 18 State Bank of India SBI Chairman CS Setty on Monday proposed the creation of a National Financial Grid to seamlessly connect key components of Indiaâs financial ecosystem including credit bureaus fraud registries eKYC facilities UPI and the account aggregator framework Addressing the CII Financing Summit in Mumbai Setty said that a single financial grid will give digital lending a fillip enhance risk assessment and smoothen data flow across institutionsHe highlighted that the ULI could act as a transformative backbone for this national financial gridSetty added that such a system would serve as one openaccess infrastructure layer for the whole ecosystem He showed how embedding a common digital framework for fraud and risk management would further enhance lending operations reliabilityThe SBI chief also observed that MSME lending has witnessed a renewed push over the last five years driven by the availability of digital data and improved technological infrastructureHowever Setty stressed that technology alone is not enough He said banks must focus on reskilling and reshaping employee orientation as digital tools and mobile applications fail to deliver impact if staff and customers do not fully understand or adopt themHis remarks come amid the rapid expansion of Indiaâs digital public infrastructure and the growing demand for more integrated transparent and secure financial systemsEarlier last month Setty informed that the bank is working on simplifying the Know Your Customer KYC and reKYC processes to make them more userfriendlySpeaking to reporters on the sidelines of Global Fintech Fest 2025 he added that SBI will work closely with regulators and the government to bring these changesâWe are working on the simplification of KYC processes Even if it means engaging with regulators and the government we are taking the initiative from SBIâs side to make the entire KYC process easierâ Setty told reportersâI think banks like SBI are wellversed in acquisition and financingâ he added IANS https://dailyworld.in/business/sbi-chairman-pitches-for-national-financial-grid-to-unify-credit-and-digital-infrastructure-649276.html Wed, 19 Nov 2025 02:11:00 +0530 https://dailyworld.in/business/centre-rolls-out-insurance-cover-for-crop-loss-due-to-wild-animals-paddy-inundation-to-help-farmers-649287.html New Delhi Nov 18 In a major benefit to farmers the Ministry of Agriculture and Farmers Welfare has introduced new modalities for covering crop loss due to wild animal attacks and paddy inundation in floodprone areas under the Pradhan Mantri Fasal Bima Yojana PMFBY according to an official statement issued on Tuesday Under the revised framework crop loss due to wild animal attacks will now be recognised as the fifth addon cover under the Localised Risk categoryStates will notify the list of wild animals responsible for crop damage and identify vulnerable districts or insurance units based on historical dataFarmers will be required to report losses within 72 hours using the Crop Insurance App by uploading geotagged photographs the statement saidThe decisions have been taken in response to longstanding requests from several States and are aimed at strengthening protection for farmers against sudden localised and severe crop damageThe modalities have been prepared in accordance with the PMFBY Operational Guidelines ensuring a scientific transparent and operationally feasible framework for implementation nationwide and will be rolled out from Kharif 2026 the statement saidFor years farmers across India have suffered increasing crop losses due to attacks by wild animals like elephants wild boars nilgai deer and monkeys These incidents are common in regions situated near forests wildlife corridors and hilly terrains Until now such losses often went uncompensated as they were not covered under crop insuranceAt the same time paddy farmers in floodprone and coastal States have been repeatedly affected by inundation during heavy rains and overflowing waterwaysPaddy inundation was removed from the localised calamity category in 2018 due to concerns about moral hazard and the difficulty of assessing submerged crops However its exclusion led to a significant gap in protection for farmers in districts prone to seasonal floodingTaking note of these emerging risks and challenges the Department of Agriculture and Farmers Welfare constituted an expert committeeThe recommendations of the committee have now been approved by Union Minister of Agriculture and Farmers Welfare Shivraj Singh ChouhanWith this important decision farmers suffering localised crop damage will now receive timely and technologybased claim settlement under PMFBY the statement saidThis coverage is expected to significantly benefit farmers in States with high humanâwildlife conflict including Odisha Chhattisgarh Jharkhand Madhya Pradesh Maharashtra Karnataka Kerala Tamil Nadu Uttarakhand as well as the Himalayan and NorthEastern States such as Assam Meghalaya Manipur Mizoram Tripura Sikkim and Himachal Pradesh where incidents of wild animal depredation are frequent and widespreadReintroducing Paddy Inundation as a Localised Calamity Cover under PMFBY will especially benefit farmers in coastal and floodprone States including Odisha Assam West Bengal Tamil Nadu Kerala Karnataka Maharashtra and Uttarakhand where paddy submergence is a recurring challengeTogether with the inclusion of Wild Animal Attack these additions make PMFBY more inclusive responsive and farmerfriendly further strengthening the resilience of Indiaâs crop insurance system the statement added IANS https://dailyworld.in/business/centre-rolls-out-insurance-cover-for-crop-loss-due-to-wild-animals-paddy-inundation-to-help-farmers-649287.html Wed, 19 Nov 2025 02:26:00 +0530 https://dailyworld.in/business/satya-nadella-to-visit-india-from-dec-1012-to-meet-top-leaders-discuss-ai-push-649307.html New Delhi Nov 19 Microsoft Chairman and CEO Satya Nadella will begin a threeday visit to India on December 10 The Indiaborn tech leader will travel to Delhi Bengaluru and Mumbai as part of his tour during which he is expected to meet Prime Minister Narendra Modi IT Minister Ashwini Vaishnaw and other senior government officialsNadella will start his visit in Delhi on December 10 move to Bengaluru on December 11 and conclude in Mumbai on December 12 This will be one of his several visits to India in recent years as Microsoft continues to expand its presence and strengthen its position in the fastgrowing cloud and AI services marketDuring his earlier visit in January this year Nadella had announced a 3 billion investment to build cloud and AI infrastructure in India and to support skilling programmes At that time he said India was becoming a global leader in AI innovation and stressed that Microsoft wanted to help make the country âAIfirstâ The company also said it would train 10 million more Indians in essential AI skills by 2030 Microsoft had already exceeded its 2025 target by training 24 million people within a year with a majority of participants coming from TierII and TierIII cities and 65 per cent of them being womenRival Google has also announced a major push in India with a 15 billion investment to set up a stateoftheart AI hub in VisakhapatnamThe buildup to Nadellaâs visit saw another important meeting on Tuesday when Commerce and Industries Minister Piyush Goyal met Lisa Monaco President of Microsoft Global Affairs After the meeting Goyal posted on X that the discussion focused on Microsoftâs continued engagement in India and its support for AIled innovation and infrastructure development He added that both sides also explored ways to strengthen the IndiaâUS partnership in AI digital trade and workforce skilling to ensure inclusive and sustainable growth IANS https://dailyworld.in/business/satya-nadella-to-visit-india-from-dec-1012-to-meet-top-leaders-discuss-ai-push-649307.html Wed, 19 Nov 2025 10:31:00 +0530 https://dailyworld.in/business/apple-expands-applecare-in-india-introduces-theft-and-loss-coverage-with-new-flexible-plans-649309.html New Delhi Nov 19 Apple on Wednesday expanded its AppleCare protection plans for customers in India introducing more flexible options including AppleCare with theft and loss for iPhone With new monthly and annual subscription choices users now have greater freedom in how they protect their Apple devices and can keep coverage for as long as they wantApple said the updated plans aim to make device protection easier and more affordable âAppleCare gives our customers peace of mind knowing that their products are protected and supported by Apple expertsâ said Kaiann Drance Appleâs vice president of Worldwide iPhone Product MarketingâWith todayâs updates in India weâre making it easier and more affordable to get trusted protection including access to our most complete coverage for iPhoneâ Drance addedThe newly introduced AppleCare with Theft and Loss covers up to two incidents of theft or loss each yearBesides offering reassurance in case an iPhone goes missing the plan also includes all the benefits of regular AppleCareUsers get 247 priority support battery replacement services and unlimited accidental damage repairs using genuine Apple parts at Apple Stores and authorised service centres Prices for the Theft and Loss plan start at Rs 799Customers can view these protection options and purchase plans directly through the Settings app on their iPhone iPad or Mac Coverage begins immediately whether they choose a monthly or annual subscriptionThe expansion of AppleCare in India comes at a time when Apple is also strengthening its health and safety features globallyRecently Apple announced that the Apple Watchâs new hypertension notification feature could warn more than one million users about signs of chronic high blood pressure a condition that affects around 13 billion adults worldwideThe feature uses machine learning to detect early signs of hypertension by analysing blood vessel responses over a 30day period IANS https://dailyworld.in/business/apple-expands-applecare-in-india-introduces-theft-and-loss-coverage-with-new-flexible-plans-649309.html Wed, 19 Nov 2025 10:52:00 +0530 https://dailyworld.in/business/123456-remains-indias-most-used-password-for-2nd-year-report-649320.html New Delhi Nov 19 123456 has once again emerged as Indiaâs most common password topping the list for the second consecutive year a new report said on Wednesday The data compiled by password manager NordPass analysed passwords used globally and in 44 countries with a special focus this year on how different generations choose their passwordsThe report shows that Indians continue to rely heavily on extremely weak and predictable passwordsAfter 123456 the next most used passwords in India include Pass123 and admin followed by simple numeric sequences such as 12345678 12345 and 123456789Despite adding symbols like or capital letters combinations like Admin123 Password123 and Abcd1234 remain easy to guessThe research notes that many Indians try to make their passwords appear strong by inserting special characters but the overall patterns are still very easy for hackers to crackPersonal elements also influence password choices Names and patriotic references appear frequently with passwords such as Kumar123 Global123 and India123 making the countryâs top listExperts warn that while such combinations may feel more personal or unique they follow predictable formats that can be easily targeted by automated attacksGlobally the findings are similarly worrying â123456â is again the worldâs most common password followed by âadminâ and â12345678âSimple numeric patterns like â12345â â1234567890â and easy combinations such as âqwerty123â dominate lists across countriesResearchers also observed a significant rise in the use of special characters this year with 32 passwords on the global list containing them compared to just six last year However most of these remain predictable variations of common words or number patternsKarolis Arbaciauskas head of product at NordPass said that overall improvements in password hygiene remain slow despite years of awareness campaignsArbaciauskas added that until passwordless authentication methods like passkeys become widespread strong unique passwords are essentialâAround 80 per cent of data breaches are caused by weak reused or compromised passwordsâ he notedThe report also found that generational differences are minimalIn fact the most popular passwords among 18yearolds look very similar to those used by 80yearolds Numeric sequences like â12345â and â123456â dominate every age bracket IANS https://dailyworld.in/business/123456-remains-indias-most-used-password-for-2nd-year-report-649320.html Wed, 19 Nov 2025 11:36:00 +0530 https://dailyworld.in/business/q2-gdp-likely-to-be-around-75-pc-on-festive-demand-boost-sbi-research-649156.html New Delhi Nov 18 Indiaâs economic growth is expected to remain strong in the second quarter Q2 FY26 with GDP likely to be close to 75 per cent a new report said on Tuesday The data compiled by SBI Research said that the economy is gaining strength from rising investment activity improving rural consumption and continued momentum in services and manufacturingThese trends are being supported by structural reforms such as GST rationalisation which has not only improved compliance but also boosted festive season demandSBI Research noted that more economic indicators are now showing acceleration Out of 50 leading indicators tracked across agriculture industry services and consumption 83 per cent showed improvement in Q2 compared with 70 per cent in Q1Based on its predictive model the report estimates real GDP growth of 75â8 per cent for Q2 FY26 with GVA growth around 8 per centThe report also indicates that the broader growth momentum is likely to remain strong in the coming quartersThe festive season in September and October 2025 played a major role in lifting demand Lower GST rates and strong ecommerce activity gave a boost to consumer spendingData from credit and debit card transactions showed significant growth across categories such as autos groceries electronics home furnishings and travelMidtier cities saw the strongest rise in spending while metros led growth in debit card usage on ecommerce platformsGrocery and supermarket items formed the bulk of debit card purchases as per the reportThe report found that GST rationalisation has made most major consumption categories highly elastic meaning consumers responded strongly to lower tax ratesOnly textiles showed low elasticity SBI Research estimates that a typical Indian consumer may now save around 7 per cent per month on their consumption expenditure and this benefit could rise further as more data becomes availableVehicle sales across India also pointed to strong bottomup growth All regions recorded doubledigit growth in car sales of around 19 per cent and rural areas led the expansionNearly 39 per cent of cars sold were priced above Rs 10 lakh while metros and urban regions showed increasing demand for premium models above Rs 20 lakh IANS https://dailyworld.in/business/q2-gdp-likely-to-be-around-75-pc-on-festive-demand-boost-sbi-research-649156.html Wed, 19 Nov 2025 00:02:00 +0530 https://dailyworld.in/business/tech-summit-bengaluru-emerged-as-global-hub-for-innovation-amp-talent-says-deputy-cm-shivakumar-649164.html Bengaluru Nov 18 Karnataka Deputy Chief Minister D K Shivakumar on Tuesday expressed satisfaction over the state hosting a major international event in Bengaluru stating that the city has emerged as a global hub for innovation and talent Addressing the media in Bengaluru on Tuesday Shivakumar said he was proud that nearly 60 countries were participating in the event and that global investors were showing strong interest in BengaluruMany investors have come forward to invest billions of dollars in Bengaluru he saidReferring to the scale of the event he noted that thousands of speakers would be participating in discussions over the next three days to shape the cityBengalurus human resource strength particularly its more than 25 lakh IT professionals was unmatched anywhere in the world he addedShivakumar assured all delegates that the government was committed to enabling ease of doing businessWorld leaders meet me every day They want to invest they want to come to Bengaluru We will help them in every possible way he saidHe highlighted the role of IT Minister Priyank Kharge and MLA and Chairman of the Karnataka State Electronics Development Corporation KEONICS Sharath Bachche GowdaHe also revealed that a new IT city was being planned in the Greater Bengaluru region including areas near BidadiCommenting on the rising cybercrimes globally the Deputy Chief Minister said the state government had taken steps to curb such offences in BengaluruHe urged students to innovate and compete at the global level assuring support for startup ideas and entrepreneurshipThe representatives of the world are here and they have faith in us he saidAccording to Shivakumar about 50000 people are participating in the event with 1200 major companies including all 400 Fortune companies taking part The government would ensure all necessary support for their investments and job creation he saidHe also responded to ongoing criticism regarding potholes in the city We welcome the criticism and it is our bounden duty to serve the people he remarked IANS https://dailyworld.in/business/tech-summit-bengaluru-emerged-as-global-hub-for-innovation-amp-talent-says-deputy-cm-shivakumar-649164.html Wed, 19 Nov 2025 00:10:00 +0530 https://dailyworld.in/business/navi-mumbai-international-airport-to-begin-commercial-operations-from-dec-25-649165.html Mumbai Nov 18 Navi Mumbai International Airport NMIA â Indiaâs newest Greenfield airport â will begin commercial operations from December 25 Christmas Day with 23 scheduled daily departures it was announced on Tuesday In the first month NMIA will operate for 12 hours â between 0800 hours and 2000 hours â handling 23 scheduled daily departuresDuring this period the airport will manage up to 10 flight movements per hourThe inaugural flight to arrive at NMIA will be IndiGo 6E460 from Bengaluru scheduled to touchdown at 800 AM Shortly after IndiGo 6E882 will depart for Hyderabad at 840 AM marking the first outbound service from the new airportDuring the initial launch period passengers will benefit from services operated by IndiGo Air India Express and Akasa Air connecting Mumbai to 16 major domestic destinations according to the airportStarting February 2026 the airport will transition to roundtheclock operations expanding to 34 daily departures to meet the increasing needs of the MMRNMIA is conducting comprehensive Operational Readiness and Airport Transfer ORAT trials in collaboration with all stakeholders including security agencies and airline partnersFurther strengthening its preparedness the Central Industrial Security Force CISF was formally inducted at NMIA on October 29 2025 with deployment across key airport functionsThe inauguration of NMIA by Prime Minister Narendra Modi on October 8 set the stage for a carefully phased operational rollout prioritising passenger safety reliability and comfort from day oneThe launch will add capacity to the growing aviation needs of the Mumbai Metropolitan Region MMRNavi Mumbai International Airport Private Limited NMIAL is a special purpose vehicle established for the development construction operation and maintenance of the Greenfield international airport projectNMIAL is a public private partnership PPP between Mumbai International Airport Limited MIAL a subsidiary of Adani Airports Holdings Limited AAHL which holds the majority stake of 74 per cent while the City and Industrial Development Corporation of Maharashtra Limited CIDCO holds the remaining 26 per cent IANS https://dailyworld.in/business/navi-mumbai-international-airport-to-begin-commercial-operations-from-dec-25-649165.html Wed, 19 Nov 2025 00:11:00 +0530 https://dailyworld.in/business/gold-silver-tumble-as-hopes-of-december-fed-rate-cut-fade-649167.html Mumbai Nov 18 Gold and silver prices dropped sharply in the domestic futures market on Tuesday morning as hopes of a US Federal Reserve rate cut in December faded and concerns over US tariffs eased This reduced the appeal of safehaven assets like bullion At early trade MCX Gold December futures were trading 119 per cent lower at Rs 121466 per 10 gramsMCX Silver December contracts also declined 165 per cent to Rs 152750 per kgGold has support at 40003965 while resistance at 40754110 Silver has support at 49704945 while resistance is at 50755110 market watchers saidIn INR gold has support at Rs122350121780 while resistance at Rs123750124500 Silver has support at Rs153850152100 while resistance at Rs156540 157280 they addedInternationally gold prices slipped for the fourth straight session on TuesdayA stronger US dollar and weakening expectations of a rate cut next month continued to weigh on the metalThe dollar index rose to 9959 making gold more expensive for buyers using other currenciesGold which is priced in US dollars becomes costlier when the greenback strengthens resulting in reduced demandThe recent US government shutdown which lasted a record 43 days had delayed the release of important economic data creating uncertainty about the condition of the worldâs largest economyWith the shutdown now over attention has shifted to key data releases expected this week including the September nonfarm payrolls report on ThursdayThese numbers will play a major role in shaping expectations around the US Federal Reserveâs next move on interest ratesMeanwhile Fed officials continue to send mixed signals on the future path of monetary policy adding further uncertainty to the marketWith no major positive fundamental triggers in recent days bulls remain hesitantâespecially with both metals still trading at historically high levelsTraders now await a fresh round of US economic data later this week Meanwhile a firmer US Dollar Index and slightly higher 10year Treasury yields added pressure to precious metals analysts said IANS https://dailyworld.in/business/gold-silver-tumble-as-hopes-of-december-fed-rate-cut-fade-649167.html Wed, 19 Nov 2025 00:14:00 +0530 https://dailyworld.in/business/indias-entertainment-sector-to-grow-7-pc-annually-to-cross-rs-3-000-billion-by-2027-649173.html New Delhi Nov 18 Indiaâs media and entertainment sector is projected to grow at a compound annual rate CAGR of about 7 per cent reaching approximately Rs 3067 billion by 2027 the government said on Tuesday The government projects this ecosystem to scale up to 100 billion by 2030 moving from a contentconsuming nation to a global creator and exporter of intellectual property an official statement saidThe government has formally recognised the Animation Visual Effects Gaming Comics and Extended Reality AVGCXR sector as a key driver of growthAVGC Promotion Task Force projected the creation of around 20 lakh direct and indirect jobs in the coming ten years while estimating that the sector could contribute to Indiaâs GDP through production exports and allied servicesThe gross valueadded GVA share steadily increased over the last decade as India now offers a 40 to 60 percent cost advantage in animation and VFX services supported by a large skilled workforceThis comparative edge attracted a steady inflow of international projects and positioned India as a preferred destination for global postproduction work the statement said Currently 25 per cent of total viewership for Indian OTT content originates from overseas audiencesThis reflects not only the commercial appeal of Indiaâs creative output but also its expanding role in cultural diplomacy as Indian stories continue to build emotional and cultural connections across continents the statement saidThe sector is driven by digital innovation youthdriven demand and a surge in creative entrepreneurship it said adding that the Centre aims to strengthen domestic capability in animation visual effects gaming and extended reality through investments in training digital infrastructure and innovationdriven institutionsIn May 2025 the Indian Institute of Creative Technologies IICT was formalised as a Section 8 company which onboarded Google YouTube Meta Adobe Microsoft NVIDIA Wacom and JioStar as industry partners to codevelop curricula offer internships and scholarships Further they support creativetech startups through incubation and mentoring IANS https://dailyworld.in/business/indias-entertainment-sector-to-grow-7-pc-annually-to-cross-rs-3-000-billion-by-2027-649173.html Wed, 19 Nov 2025 00:21:00 +0530 https://dailyworld.in/business/indian-stocks-set-for-strong-recovery-in-next-12-months-morgan-stanley-649179.html Mumbai Nov 18 Indian equities is expected to stage a strong recovery over the next year supported by a clear policy shift from the government and improving economic conditions a new report said on Tuesday Global brokerage Morgan Stanley believes that the worst phase of the midcycle slowdown is now behind the market and that earnings growth will strengthen in the months aheadAccording to its latest report Indiaâs longterm growth story is becoming stronger with recent policy actions The brokerage said most risks to its view come from outside India while domestic fundamentals remain solid It also noted that 2026 is likely to be a âmacro tradeâ year marking a shift from the stockpicking environment that dominated 2025Morgan Stanley highlighted that favourable policies are boosting expectations of a recovery in nominal growth which will help lift corporate earnings It added that Indiaâs relative valuations are supportive of better performance and foreign portfolio investors currently have their lightest exposure to India in history With domestic investors continuing to participate actively the brokerage believes Indian equities are wellplaced to deliver strong returns It also pointed out that Indian markets are set to reverse their weakest performance relative to emerging markets in three decadesThe report forecasts a 13 per cent upside in the BSE Sensex by December 2026 in the basecase scenario This outlook assumes continued macro stability driven by fiscal consolidation higher private investment steady domestic growth stable global conditions and favourable oil prices Morgan Stanley also expects the IndiaUS tariff issues to be resolved soon Its base case includes a 25basispoint cut in shortterm interest rates and a liquidityfriendly monetary environment The brokerage projects a 17 per cent compound annual growth rate in Sensex earnings through FY28However it warned that the biggest risk to Indiaâs market outlook remains the possibility of a global slowdown Even though India could still outperform in a global selloff due to its low market beta such a situation would limit absolute gains in stocks Concerns among market participants about increased share issuance weak trailing returns high valuations growth uncertainties and Indiaâs slower progress in the AI space were dismissed by the brokerage as largely misplacedOn the portfolio strategy front Morgan Stanley said domestic cyclical sectors are likely to outperform defensive and externalfacing sectors It recommended overweight positions in financials consumer discretionary and industrials while advising underweight exposure to energy materials utilities and healthcare IANS https://dailyworld.in/business/indian-stocks-set-for-strong-recovery-in-next-12-months-morgan-stanley-649179.html Wed, 19 Nov 2025 00:29:00 +0530 https://dailyworld.in/business/pm-modi-highlights-opportunity-to-reshape-global-climate-finance-649181.html New Delhi Nov 18 Prime Minister Narendra Modi has highlighted that there is a strong opportunity to reshape global climate finance with greater transparency and common standards The Prime Minister in a post shared by PMO India on its X handle on Tuesday referred to an article by Union Minister Bhupender Yadav which underscores Indiaâs draft Climate Finance Taxonomy and growing domestic green finance as examples of pragmatic leadership that can guide a more effective global architecture for the futureThe article points out that Indiaâs G20 Presidency delivered a clear message to the world that the 20thcentury multilateral framework is not serving its purpose Nowhere is this failure more evident or more dangerous than in the architecture of global climate finance The need for multilateralism is nonnegotiable Existential threats from cyclones to heatwaves do not respect national borders We require that this system acts as an equaliser a platform for solidarity shared technology and protection of the most vulnerable Instead of such a partnership the Global South has been met with hollow promises opaque accounting and a system that prioritises creditors over climate This system has been slow exclusive and unaccountableThe article further states that at COP26 PM Modi pressed developed countries to mobilise 1 trillion annually insisting âas we track climate mitigation we must also track climate financeâ At COP28 he stated âClimate finance and technology are essential to fulfil the hopes of the Global Southâ For decades this ambiguity has undermined trust Is it a grant a subsidised loan or merely a rebranded development project This fog hampers productive investment critical to climate action India alone requires 467 billion by 2030 to decarbonise hardtoabate sectors Globally annual needs exceed 7 trillion yet flows remain stubbornly low he saidThe anchors of the current system the Multilateral Development Banks MDBs the Green Climate Fund GCF and the Global Environment Facility GEF are failing to meet this moment First accountability is weak as is transparency Second power remains concentrated International financial institutions are still governed by structures that afford disproportionate influence to a handful of wealthy nations Third access is prohibitive For developing countries complex application processes mean critical funds are slow to arrive if at all This is compounded by steep borrowing costs and mounting debt forcing nations to choose between paying creditors and protecting their populations the article statesThis is precisely why India during its historic G20 Presidency championed MDB reform the article adds IANS https://dailyworld.in/business/pm-modi-highlights-opportunity-to-reshape-global-climate-finance-649181.html Wed, 19 Nov 2025 00:31:00 +0530 https://dailyworld.in/business/indias-it-spending-to-grow-106-pc-to-reach-1763-billion-in-2026-649183.html New Delhi Nov 18 Indiaâs IT spending is expected to reach 1763 billion in 2026 up 106 per cent onyear driven by accelerating adoption of cloud and digital technologies a report said on Tuesday The data centre systems segment is projected to record the highest annual growth rate rising 205 per cent in 2026 to 9385 million Evolving data privacy and sovereign cloud requirements are expected to drive growth in this segment through 2026 the report from Gartner saidâData centre systems spending is primarily driven by substantial AI infrastructure investments and multiple government programs aimed at strengthening the local AI ecosystemâ said Naresh Singh Senior Director Analyst at GartnerâAs the uncertainty pause that began earlier this year eases rising demand for AI infrastructure will fuel new investment in data centres in India said DD Mishra VP Analyst at GartnerMishra said that local CIOs will continue to prioritise investments in cybersecurity AIML and data analyticsTheir ongoing commitment to modernising applications strengthening connectivity implementing hyperautomation enhancing customer experience and operational efficiency will propel IT spending growth he saidSoftware spending is projected to grow 176 per cent to 247 billion as enterprises ramp up investment in AIenabled software solutions and modern IT infrastructureIT services spending is set to grow 111 per cent in 2026 with doubleâdigit growth projected over the next few years driven by strong enterprise investments in infrastructure as a service IaaS consulting and application modernisationThe Gartner report said the rapid growth of global capability centres GCCs and access to a highly skilled costeffective workforce will drive the sectorâs growth Devices spending is expected to rise 99 per cent to 66442 million while communications services will grow 54 per cent to 40414 million the report noted IANS https://dailyworld.in/business/indias-it-spending-to-grow-106-pc-to-reach-1763-billion-in-2026-649183.html Wed, 19 Nov 2025 00:32:00 +0530 https://dailyworld.in/business/we-promise-to-hold-your-hand-while-you-soargautam-adani-649191.html New Delhi Nov 18 Gautam Adani Chairman of the Adani Group on Tuesday unveiled a new heartwarming airport film promising to offer human touch while also providing worldclass service at Adani Airports The latest film âAapke Safar Ke Humsafarâ is under the acclaimed Hum Karke Dikhate Hain platform and demonstrates how infrastructure can be a catalyst for meaningful change and emotional connectionIn our actions sit the promises we make Promises to open new skies promises to carry your dreams across horizons and promises to hold your hand while you soar Aapke safar mein humsafar ban jaate hain New skies are here Hum Karke Dikhate Hain Gautam Adani shared in a post on the social media platform XThe airport story showcases the human touch where the ground staff at Adani Airports help an elderly couple embarking on their first international journey with wheelchair assistance The airport associate also guides them through the dutyfree shopping area offers lounge comfort and provides a smooth escort to the boarding gateThe film offers a sneak peek into the Adani Airports with worldclass benchmarks in travel and infrastructure while keeping people and communities at heartThe film conceptualised by Ogilvy India and directed by National Film Award and Filmfare awardwinning director Shoojit Sircar captures how Adani Airports go beyond infrastructure becoming true companions in every travellerâs journeyThe story culminates in a touching moment of gratitude underscored by the campaignâs signature message âSirf world class airports nahi chalate hainâ aapke safar mein humsafar ban jaate hain Adani Hum karke dikhate hainâ We dont just run worldclass airportsâ We become companions on your journey Adani We make it happenMeanwhile the latest airport under Adani Airports the Navi Mumbai International Airport NMIA which is also Indiaâs newest Greenfield airport is expected to begin commercial operations from December 25 Christmas Day with 23 scheduled daily departuresIn the first month NMIA will operate for 12 hours between 0800 hours and 2000 hours handling 23 scheduled daily departuresDuring this period the airport will manage up to 10 flight movements per hourNMIAL is a publicprivate partnership PPP between Mumbai International Airport Limited MIAL a subsidiary of Adani Airports Holdings Limited AAHL which holds the majority stake of 74 per cent while the City and Industrial Development Corporation of Maharashtra Limited CIDCO holds the remaining 26 per cent IANS https://dailyworld.in/business/we-promise-to-hold-your-hand-while-you-soargautam-adani-649191.html Wed, 19 Nov 2025 00:43:00 +0530 https://dailyworld.in/business/industry-must-set-bold-targets-and-mentor-next-gen-leaders-piyush-goyal-649193.html New Delhi Nov 18 Union Commerce Minister Piyush Goyal on Tuesday urged industry leaders to adopt a more ambitious and proactive approach to help drive Indiaâs growth While speaking at FICCIâs 98th Annual General Meeting and Annual Convention he outlined five key expectations from the industry and encouraged them to set bold futurefocused targetsGoyal first appealed to industry bodies to closely audit the results of their advocacy efforts He said industry associations often push ideas and recommendations but they rarely evaluate which of them were accepted and which were forgotten This exercise he noted would help them understand their true impact and strengthen their role in the decades aheadSet bold targets We canât be satisfied with incremental growth we need to venture out of the ordinary We need domestic capital Indian money in startups and RampD It canât always be foreign investment at initial stages it should have domestic money Be bold in outlook Goyal mentionedHe then emphasised the need for bolder goals stressing that India cannot afford to be satisfied with slow or incremental progress Goyal called for stronger domestic investment particularly in startups and research and development saying that earlystage ventures should not depend solely on foreign capitalThe minister also urged Indian industry to learn from global examples particularly countries like Korea and Sweden which have strong models for industrial growth and business facilitationSpeaking about leadership Goyal expressed concern over the limited involvement of the next generation in policy and industry forums In his final point Goyal asked FICCI to expand its presence beyond major cities and reach Indiaâs remote regions He said industry bodies should not remain confined to elite business circles but must widen their engagement to support growth across the country He urged FICCI to become what he described as an âuncomfortable leaderâ that challenges itself and helps push India toward excellence IANS https://dailyworld.in/business/industry-must-set-bold-targets-and-mentor-next-gen-leaders-piyush-goyal-649193.html Wed, 19 Nov 2025 00:44:00 +0530 https://dailyworld.in/business/indias-october-services-exports-outpace-goods-exports-by-11-pc-report-649195.html New Delhi Nov 18 Indias services exports 385 billion outpaced goods exports 344 billion by 11 per cent in October bouncing back after a few months of weakness a report said on Tuesday The export of the service sector gained an average of 375 billion in the SeptemberOctober period against 33 billion in the first eight months of the year At the same time services trade surplus was at an alltime high of 20 billion during the month HSBC Global Investment Research said in its reportAs expected gold imports surged 58 per cent yearonyear YoY during the month under review In the Diwali month the gold import bill rose to 147 billion jumped over 5 billion from the previous monthMeanwhile core imports nonoil nongold contracted on a sequential basis following a sharp rise last month as select categories like electronics machinery and machine tools grew quicklyElectronic imports in particular may have risen on the back of GST rate cuts the report saidIndias goods trade deficit widened to 417 billion during the month an alltime high from 322 billion in September The report anticipated that the trade deficit would widen due to festive demandAfter seasonally adjusting the trade deficit stood at 334 billion compared to 311 billion in September The report further highlighted that the exports to the US contracted YoY terms for a second month in a row 12 per cent in September and 86 per cent in OctoberExports to nonUS destinations have also lost momentum after rising 11 per cent YoY in September in line with the trends observed in the first half of 2025 H1 2025Some of this could reflect the heightened competition of selling to nonUS destinations as many countries try to diversify exports posttariff announcements IANS https://dailyworld.in/business/indias-october-services-exports-outpace-goods-exports-by-11-pc-report-649195.html Wed, 19 Nov 2025 00:46:00 +0530 https://dailyworld.in/business/c-dot-signs-pact-to-participate-in-amaravati-quantum-valley-initiative-649196.html New Delhi Nov 18 The Centre for Development of Telematics CDOT on Tuesday said it has signed a memorandum of understanding MoU with the Andhra Pradesh government to participate in the Amaravati Quantum Valley AQV initiative Andhra Pradesh has taken a giant step in shaping Indiaâs quantum future with the initiative of setting up AQVThe project involves statelevel partnerships infrastructure and training programmes aiming to create an integrated quantum ecosystem uniting hardware manufacturing software development talent nurturing and research excellenceThrough this partnership CDOT proposes to set up a centre of excellence CoE in quantum communication and security solutions along with allied areas like privacy enhancement technologies PETs in Amaravati Quantum ValleyCDOT will focus on quantum communication solutions at the proposed Centre at AQV Its expertise in the quantum communication field will help in providing the necessary resources and skill development to emerging players in IndiaIt will support research and testing in the NQM National Quantum Mission aligned areas of Quantum Security Solutions along with the development of PETs to ensure compliance with MeitYâs Digital Personal Data Protection DPDP frameworkIt will also focus on costeffective subcomponent development for quantum communication systems and establish an integrated testbed for quantum security thereby strengthening the AQV mandate fostering a quantumsafe ecosystem and enhancing digital privacy and data protection across the nation an official statement saidThe MoU was exchanged in the presence of Nara Lokesh State Minister of IT during the 30th edition of CII Partnership Summit in Visakhapatnam recentlyCDOT is the premier telecom RampD centre of the Department of Telecommunications Government of India engaged in the design development of indigenous telecom solutions and deployment of cuttingedge communication technologies to meet the countryâs strategic and socioeconomic needs IANS https://dailyworld.in/business/c-dot-signs-pact-to-participate-in-amaravati-quantum-valley-initiative-649196.html Wed, 19 Nov 2025 00:47:00 +0530 https://dailyworld.in/business/telangana-cm-seeks-centres-help-for-mega-projects-649204.html Hyderabad Nov 18 Telangana Chief Minister A Revanth Reddy pitched for robust economic growth in the state by seeking the Union Governments assistance in completing gamechanging projects like Musi Rejuvenation Metro Rail expansion diversion of Godavari water to Hyderabad and the Regional Ring Road Participating in the regional meeting chaired by Union Minister of Housing and Urban Development Manohar Lal Khattar here on Tuesday the Chief Minister outlined the state governments vision to develop Hyderabad as the most happening global city by taking up a slew of infrastructure development projectsSeeking the Centres full help the Chief Minister said that many development projects were pending for approvalHe requested the Union Minister to grant permissions immediately and also extend support to Metro Rail phase two Musi project Godavari water diversion scheme and Regional Ring Road worksThe Chief Minister briefed Union Minister Khattar on the zerocarbon emission measures including promoting EV vehicles in the stateHe said that 3000 electric buses will be pressed into service in Hyderabad next yearThe Future City project global investments in the new city and the proposed dry port to bolster the state economy were also discussed in the meetingWe are not competing with other states in the country Our competition is with Singapore Tokyo and New York It requires the cooperation of the Central government he saidHe revealed that the state government will release the Telangana Rising Vision Document 2047 on December 9We are working to make Telangana a 1 trillion US dollar economy by 2034 and a 3 trilliondollar economy by 2047 We expect Telangana to contribute 10 per cent of the countrys economy CM Revanth Reddy said mentioning Prime Minister Narendra Modis vision to develop the country into a 30 trilliondollar economy by 2047 IANS https://dailyworld.in/business/telangana-cm-seeks-centres-help-for-mega-projects-649204.html Wed, 19 Nov 2025 00:55:00 +0530 https://dailyworld.in/business/stock-market-snaps-6-day-gaining-momentum-amid-profit-booking-649213.html Mumbai Nov 18 Indian stock indices closed lower on Tuesday snapping the sixth sessions winning streak amid profit booking Sensex closed at 8467302 down 27793 points or 033 per cent The 30share index started the session flat at 8504237 against last sessions closing of 8495095 Later the index dragged into negative territory as selling pressure gripped the market sentimentNifty closed at 2591005 down 10340 points or 040 per centThe domestic equity market edged lower as investors booked profits after the recent rebound mirroring weak global sentiment Expectations of a US Fed rate cut in December have diminished weighing on sentiment with IT metal and realty stocks declining amid a stronger dollar while private banks offered some support said analystsInvestors now await this weekâs US jobs data which will be key in shaping the Fedâs policy outlook Going forward progress on the IndoUS trade deal and a strengthening domestic earnings outlook could help revive confidence and support market momentum to convincingly cross the Nifty50 threshold of 26000 he addedTech Mahindra Eternal Infosys Bajaj FinServ Bajaj Finance LampT Trent Hindustan Unilever HCL Tech Mahindra and Mahindra TCS BEL HDFC Bank ICICI Bank and Sun Pharma were the top losers from the Sensex basket Bharti Airtel Axis Bank Asian Paints and PowerGrid closed higherThe majority of sectoral indices fell amid overall selling Nifty Fin Services fell 99 points or 036 per cent Nifty Bank decreased 63 points or 011 per cent Nifty Auto dipped 104 points or 038 per cent Nifty FMCG fell 313 points or 056 per cent and Nifty IT ended the session 400 points or 110 per cent lowerBroader indices also experienced pressure during the session Nifty Midcap fell 358 points or 059 per cent Nifty Smallcap 100 dipped 192 points or 105 per cent and Nifty 100 closed 120 points or 045 per cent lower IANS https://dailyworld.in/business/stock-market-snaps-6-day-gaining-momentum-amid-profit-booking-649213.html Wed, 19 Nov 2025 01:05:00 +0530 https://dailyworld.in/business/indias-growth-momentum-to-strengthen-in-2026-as-domestic-demand-rises-report-649070.html New Delhi Nov 17 Indiaâs economic outlook for 2026 is set to remain upbeat with domestic demand emerging as the key driver of growth a new report said on Monday The data compiled by Morgan Stanley said that macro indicators remain stable giving policymakers ample room to support growth through both monetary and fiscal measuresAccording to the report Indiaâs growth engine will primarily be driven by stronger household spending and rising private investmentWith both rural and urban consumption expected to expand GDP is projected to grow at 65 per cent in FY 2027â28Rural demand has already been robust due to healthy farm incomes while urban demand which had been weak now shows signs of revival as policy support kicks inOn the policy front Morgan Stanley expects the RBI to cut interest rates by another 25 basis points in December 2025 bringing the policy rate to 525 per centAfter this the central bank is likely to pause and evaluate the impact of the easing cycle so far The government is also expected to continue its focus on capital expenditure and gradual fiscal consolidationThe report acknowledges that risks to growth remain balanced Global factors such as geopolitical tensions weak trade and policy decisions in the US could pose challengesHowever a strongerthanexpected domestic multiplier from policy support or a faster global recovery could push growth even higher than the current projectionsAnother central theme in the outlook is the broadening of consumption Urban demand had been affected by high interest rates softer hiring trends and weak wage growth In contrast rural consumption benefited from good harvests and strong agricultural incomesNow with the RBI easing policy across rates liquidity and regulations borrowing costs are coming down Loan rates have already fallen and retail lending is expected to rise further helping lift urban spendingAdditionally the governmentâs tax reforms especially income tax cuts worth Rs 1 trillion and GST rationalisation are expected to significantly boost disposable incomes particularly for middleclass householdsAs businesses gain confidence private sector investment is likely to increase supporting job creation and further strengthening consumption the report said IANS https://dailyworld.in/business/indias-growth-momentum-to-strengthen-in-2026-as-domestic-demand-rises-report-649070.html Tue, 18 Nov 2025 03:46:00 +0530 https://dailyworld.in/business/sensex-nifty-open-lower-on-weak-global-cues-649125.html Mumbai Nov 18 Indian stock markets opened lower on Tuesday as weak global cues weighed on investor sentiment Both benchmark indices slipped 02 per cent at the opening bell The Sensex dropped 195 points to trade at 84756 in early deals while the Nifty fell 64 points to 25949 Most heavyweight stocks were under pressure dragging the indices downâImmediate resistance now lies at 26100 followed by 26150 while the 25850â25900 band is likely to offer meaningful support and serve as an accumulation zone for positional tradersâ market experts saidâThese levels will remain crucial as the index navigates early weaknessâ experts notedTata Steel Bajaj Finance Bajaj Finserv Kotak Mahindra Bank Larsen amp Toubro Mahindra amp Mahindra Tech Mahindra HCL Tech Sun Pharma and Titan were among the major laggards declining between 05 per cent and 1 per centHowever a few stocks managed to stay in positive territory Bharat Electronics Bharti Airtel Axis Bank Eternal and State Bank of India were the only gainers on the Sensex rising up to 05 per centBroader markets also opened weak with the Nifty MidCap index slipping 025 per cent and the Nifty SmallCap index falling 040 per centAmong sectoral indices Nifty PSU Bank was the only one to trade higher gaining 025 per cent On the other hand Nifty Realty and Nifty Metal dropped 08 per cent each while the Nifty IT index fell 05 per centThe Bank Nifty mirrored the broader marketâs resilience reflecting renewed buying momentumâStrong support is identified at 58600 and a breakdown below this mark may trigger a modest decline toward 58800â market watchers mentionedâOn the upside resistance at 59100 remains a key barrier and a sustained breakout above this level may open the path toward 59300 indicating potential continuation of the bullish trendâ experts stated IANS https://dailyworld.in/business/sensex-nifty-open-lower-on-weak-global-cues-649125.html Tue, 18 Nov 2025 16:59:00 +0530 https://dailyworld.in/business/india-us-partnership-strong-expanding-across-strategic-and-economic-sectors-piyush-goyal-649128.html New Delhi Nov 18 IANS The IndiaUS partnership remains strong stable and is continuously expanding across strategic and economic sectors Minister of Commerce and Industry Piyush Goyal said on TuesdaynbspAddressing the IndoAmerican Chamber of Commerces event here the minister emphasised there is no cause for concern regarding the bilateral relationship and reiterated that the friendship between the two nations stands on firm pillars of democracy diversity and a shared developmental visionGoyal stated that the US views India as a trusted partner and both countries remain committed to expanding trade and commerceHe noted that a comprehensive partnership such as the IndiaUS relationship comprises several elements that may progress at different speedsThe minister added that negotiations are a continuous process and India must safeguard its interests while balancing the sensitivities of farmers fishermen small industries and businessesIndia has moved from being among the Fragile Five to becoming one of the top five global economies in the last 1012 years Goyal notedHe projected that India is on track to become the worlds thirdlargest economy by 2027 citing strong banking systems low inflation controlled fiscal deficits growing consumer sentiment and infrastructure expansion supported by GST reforms as key contributors to Indias robust economic fundamentalsReferring to Prime Minister Narendra Modis vision the minister recalled the statement that India is not merely an emerging market but an emerging model of developmentHe outlined the pillars on which Indias journey towards Amrit Bharat 2047 is progressing strong macroeconomic fundamentals inclusive and sustainable growth a welfaredriven development model covering 140 crore citizens the strength of a vibrant democracy and the power of Indias demographic dividend led by a skilled and talented youthIndia produces 24 million STEM graduates every year and continues to deepen partnerships with several developed countries through Free Trade Agreements FTAs either concluded or under negotiationGoyal said India is an aspirational nation where every child today gets access to basic needs such as food clothing housing healthcare education electricity clean water and digital connectivity challenges that were widespread in earlier decadesIANS https://dailyworld.in/business/india-us-partnership-strong-expanding-across-strategic-and-economic-sectors-piyush-goyal-649128.html Tue, 18 Nov 2025 17:41:00 +0530 https://dailyworld.in/business/indian-stock-market-opens-higher-as-investors-cheer-ndas-bihar-win-bank-nifty-hits-new-record-648997.html Mumbai Nov 17 The Indian stock market began the week on a positive note as both the Sensex and Nifty opened in the green on Monday The rebound comes after Fridayâs sharp fall with investors showing confidence amid the NDAâs win in the Bihar Elections 2025 and strong movement in select stocksThe Sensex was seen trading at 84759 up 196 points or 023 per cent The Nifty also moved higher to 25963 gaining 53 points or 021 per centOn the weekly chart the Nifty has shown a firm recovery from key support zones closing above 25900 and signaling a sidewaystobullish bias experts saidImmediate support is placed at 25800 and 25700 offering opportunities to accumulate on dips while resistance levels are seen at 26000 and 26100 the latter acting as a critical breakout point A sustained move above 26100 could open the door for an upside extension toward the 26250â26400 zone in the coming weeks they addedMajor Sensex gainers in early trade included Kotak Bank LampT Titan Company MampM SBI Tech Mahindra and ITC all rising up to 1 per centOn the other hand Tata Motors PV was the biggest loser slipping 6 per cent Other laggards included Eternal Ultratech Cement TCS Power Grid and InfosysThe broader market sentiment was also positive The Nifty MidCap index rose 045 per cent while the Nifty SmallCap index climbed 048 per centAmong sectoral indices the Bank Nifty touched a fresh lifetime high of 58830 after rising 05 per cent The Nifty PSU Bank index gained 12 per cent while the Nifty Private Bank and FMCG indices added 05 per cent eachThe Nifty Financial Services index also inched up 04 per centAnalysts said that the market opened with renewed strength supported by banking stocks and improving investor sentiment IANS https://dailyworld.in/business/indian-stock-market-opens-higher-as-investors-cheer-ndas-bihar-win-bank-nifty-hits-new-record-648997.html Mon, 17 Nov 2025 12:49:00 +0530 https://dailyworld.in/business/gold-silver-prices-decline-as-stronger-dollar-weighs-on-demand-649010.html Mumbai Nov 17 Gold and silver prices fell in the domestic futures market on Monday morning as the US dollar strengthened and global cues remained weak At early trade MCX Gold December futures were trading 021 per cent lower at Rs 123300 per 10 gramsSilver prices also slipped with MCX Silver December contracts down 038 per cent at Rs 155424 per kgGold has support at 40354000 while resistance at 41154140 Silver has support at 50304985 while resistance is at 51255150 market experts saidIn INR gold has support at Rs122950122380 while resistance at Rs124950125500 Silver has support at Rs153850152500 while resistance at Rs156740 157880 they addedThe dollar index gained 014 per cent putting pressure on gold demand and prices Since gold is priced in dollars a stronger US currency makes the metal costlier for buyers using other currencies which often reduces its demandInvestors are now waiting for important US economic data due this week including the September nonfarm payrolls report scheduled for ThursdayThese figures will give a clearer picture of the US economyâs health and help shape expectations for the Federal Reserveâs December monetary policy decisionThe recent US government shutdown had delayed the release of some economic dataHowever media reports indicate that the Commerce Departmentâs Bureau of Economic Analysis is preparing to update its schedule for upcoming data releasesGold and silver prices experienced a rollercoaster trend last week slipping from their highs in the last two days after hawkish Fed comments dampened investor sentimentThe metals also softened as investors prepared for a busy week of delayed US economic data The upcoming nonfarm payrolls report is expected to offer crucial insight into the Federal Reserveâs policy direction market watchers saidExpectations of a December rate cut dropped to 46 per cent after hawkish Fed signals Despite nearterm volatility both precious metals are on track for their strongest annual performance in decades they addedRobust central bank buying and persistent safehaven interest amid fiscal and geopolitical uncertainty continue to fuel bullionâs upward momentum as per the experts IANS https://dailyworld.in/business/gold-silver-prices-decline-as-stronger-dollar-weighs-on-demand-649010.html Mon, 17 Nov 2025 15:00:00 +0530 https://dailyworld.in/business/indias-ai-shift-from-pilots-to-performance-as-47-pc-enterprises-have-multiple-ai-use-cases-report-648931.html New Delhi Nov 16 Indiaâs enterprise AI landscape has reached an inflexion point as nearly half of Indian enterprises 47 per cent now have multiple Generative AI GenAI use cases live while 23 per cent are in pilot stage marking a decisive shift from pilots to performance a report said on Sunday Indian enterprises are demonstrating strong confidence by embedding AI into core business workflows to deliver measurable resultsNotably 76 per cent of business leaders believe that GenAI will have a significant business impact and 63 per cent feel ready to leverage it effectively a joint report from EY and Confederation of Indian Industry CII statedOur survey shows that corporate India has moved beyond experimentation Nearly half the enterprises already have multiple use cases in production said Mahesh Makhija Partner and Technology Consulting Leader EY IndiaFor enterprises the focus must now move from building pilots to designing processes where humans and AI agents collaborate seamlessly he addedAccording to the report despite optimism AI and ML investments remain modest in scale More than 95 per cent of organisations allocate less than 20 per cent of their IT budgets to AI Only 4 per cent have crossed the 20 per cent threshold highlighting that while belief is high funding for scaled AI transformation is still conservativeThere is a clear imbalance between conviction and commitment which is becoming a defining factor in how quickly enterprises extract measurable returns from AI the report notedAs organisations operationalise AI the question of return on investment has taken centre stageThe report highlighted that enterprises are moving away from measuring AI success purely through cost reduction and productivity metrics towards a fivedimensional ROI model encompassing time saved efficiency gains business upside strategic differentiation and resilienceMeanwhile as per the report speed has become the new metric of competitive advantage in AI adoptionAs much as 91 per cent of business leaders identified rapid deployment as the single biggest factor influencing their âbuy versus buildâ decisions underscoring a growing impatience to translate innovation into impactOver the next 12 months organisations are expected to focus their GenAI investments on operations 63 per cent customer service 54 per cent and marketing 33 per cent reflecting a clear shift from experimentation to embedding AI in core business functions that directly drive efficiency experience and growthâThe coming decade will be defined not only by the speed of AI adoption but by the quality of its integration into Indiaâs economic and social fabric This transformation has the potential to add value to Indiaâs growth story said Chandrajit Banerjee Director General CII IANS https://dailyworld.in/business/indias-ai-shift-from-pilots-to-performance-as-47-pc-enterprises-have-multiple-ai-use-cases-report-648931.html Mon, 17 Nov 2025 01:43:00 +0530 https://dailyworld.in/business/v-p-radhakrishnan-highlights-cags-global-standing-as-external-auditor-for-who-amp-ilo-648934.html New Delhi Nov 16 VicePresident CP Radhakrishnan on Sunday highlighted that the global reputation of Indias Comptroller and Auditor General of India CAG has surged with its role as external auditor for organisations like the World Health Organisation WHO and the International Labour Organisation ILO Addressing the fifth Audit Diwas celebrations here the VicePresident also mentioned that currently CAG chairs the Asian Organisation of Supreme Audit Institutions ASOSAI and the International Organisation of Supreme Audit Institutions INTOSAI Committee including the Working Group on IT Audit positioning Bharat as a global leader in auditing standardsHe called it as a testimony to Bharats journey from being a follower to emerging as a global leaderIn his address VicePresident Radhakrishnan hailed the CAG as the guardian of the public purse emphasising its vital role in protecting public money and promoting good governanceHe lauded the CAGs 165 years of dedicated service legacy since the office of Auditor General was instituted in 1860Supreme Audit institutions across the world share one common purpose to protect public money and promote good governance Among them the CAG of India stands proudly upholding the principles of accountability transparency and integrity in public life he remarkedVicePresident Radhakrishnan applauded the CAG for notifying One Nation One Set of Object Heads of Expenditure for both the Union and state governments a reform that will significantly enhance transparency and comparability of government expenditureHighlighting Indias advancements in artificial intelligence AI big data blockchain and machine learning the VicePresident expressed happiness to note that the CAG through initiatives like the One Indian Audit and Accounts Department IAAD One System AIbased audit frameworks and several other measures has embedded technology predictive analytics and generative AI into the very DNA of public financial managementHe also praised the CAGs partnerships with premier institutions like IIT Madras to build capacity in data sciences cybersecurity and deep learningHe expressed satisfaction with the fact that a customised Large Language Model is being developed to feed more than 20000 inspection reports annually bolstering datadriven auditingTechnology adoption will enhance risk detection efficiency and evidencebased governance ensuring the optimal use of public funds the VicePresident saidTo achieve this we need to have a futureready and citizencentric civil service he addedThe VicePresident urged officers to continuously upgrade their skills and auditing capabilities ensuring that public welfare remains at the heart of governanceSenior officials present on the occasion included K Sanjay Murthy CAG of India Deputy CAGs Subir Mallick Krishnan Sagaran Subramanian and Jayant Sinha retired CAGs and officials from the Indian Audit and Account Service IAampAS were present at the event IANS https://dailyworld.in/business/v-p-radhakrishnan-highlights-cags-global-standing-as-external-auditor-for-who-amp-ilo-648934.html Mon, 17 Nov 2025 02:01:00 +0530 https://dailyworld.in/business/e-jagriti-empowers-consumers-275-lakh-users-registered-13-lakh-complaints-filed-since-january-launch-648944.html New Delhi Nov 16 In a major boost to consumer rights the eJagriti platform has emerged as a transformative digital grievance redressal system registering more than two lakh users since its launch on January 1 2025 the Ministry of Consumer Affairs Food and Public Distribution said on Sunday The platform streamlines procedures for citizens by reducing paperwork minimising travel and cutting down physical documentation thereby promoting environmental sustainabilityIt also strengthens access for nonresident Indians NRIs by removing geographical barriers and enabling them to assert their consumer rights from abroadAs of November 13 the unified portal has facilitated 130550 case filings and ensured the disposal of 127058 cases reflecting its efficiency in strengthening consumer protection across the countryWith its simple OTPbased registration eJagriti enables NRIs to file complaints make digital or offline fee payments participate in virtual hearings exchange documents online and track cases in real time eliminating the need for physical presence in IndiaMore than 275 lakh users including 1388 NRIs are registered enabling a Global Access and Seamless Consumer Grievance Redressal Platform enabling the filing of complaints from abroad virtual hearings and realtime tracking ensuring accessible justice for allEJagriti reflects governmentâs commitment to citizencentric technologydriven governance and empowers consumers with paperless contactless and efficient grievance redressalThis year 466 NRI complaints have been filed through the platform with major participation from countries such as the US 146 the UK 52 the UAE 47 Canada 39 Australia 26 and Germany 18The platforms inclusive features include a multilingual interface chatbot assistance voicetotext support for visually impaired and elderly users and endtoend encryption which enhance accessibility transparency and user security the Ministry saidFor citizens within India eJagriti integrates legacy systems like OCMS eDaakhil NCDRC CMS and CONFONET into a single seamless interfaceAs of November 13 2025 a total of 130550 complaints have been lodged nationwide with high adoption in states like Gujarat 14758 cases Uttar Pradesh 14050 cases and Maharashtra 12484 casesThe platforms rolebased dashboards provide advocates with tools to track cases upload documents and receive alerts while judges access digital files analytics and virtual courtrooms for efficient hearingsThe eJagriti platform is transforming consumer grievance redressal with faster disposals improved accessibility and secure digital processesOffering global access with endtoend encryption and rolebased permissions it enables citizens and NRIs to file and track cases from anywhereAutomated workflows virtual hearings and realtime SMSemail alerts have enhanced efficiency helping 10 states and the National Consumer Disputes Redressal Commission NCDRC achieve disposal rates above 100 per centIn 2025 eJagriti recorded a notable rise in disposal efficiencyBetween JulyâAugust 27545 cases were disposed against 27080 filed and in SeptemberâOctober 24504 cases were cleared against 21592 filed surpassing 2024 performance and accelerating backlog reductionMore than 2 lakh SMS and 12 lakh email notifications have been dispatched covering registrations case approvals document submissions and realtime updates ensuring users never miss deadlines especially those operating across time zones the Ministry addedThe platform has also enabled swift and impactful resolutionsIn Assam a parent secured a Rs 305 lakh award within 25 days after an online course provider wrongfully deducted feesIn Tripura a consumer won more than Rs 167 lakh for an eightyearold defective LG refrigerator reinforcing that brands remain accountable long after purchase IANS https://dailyworld.in/business/e-jagriti-empowers-consumers-275-lakh-users-registered-13-lakh-complaints-filed-since-january-launch-648944.html Mon, 17 Nov 2025 02:30:00 +0530 https://dailyworld.in/business/piyush-goyal-exhorts-domestic-plastics-industry-to-double-exports-648945.html Mumbai Nov 16 Commerce and Industry Minister Piyush Goyal on Sunday exhorted the Indian plastics industry to aim at doubling exports focus on sustainability and adhere to international standards In his address at an industry event here the minister emphasised the need to continue to focus on the growth and global competitiveness of the sector by branding India as a highquality and costcompetitive producerâMSMEs in the plastics industry have a delta of opportunity to grow and contribute to export growthâ Goyal saidThe minister presented the Plexconcil Export Excellence Awards 202325 to the deserving winners from the Indian plastics industry at the eventIndias plastic exports reached 125 billion in FY 202425 recording an 8 per cent growth over the corresponding figure of 115 billion for the previous financial yearKey exports include plastic raw materials packaging items and films with growth seen in specific product categories like plastic films and sheets and packaging itemsThe United States China the United Arab Emirates and Germany are major export destinations and the industry is focusing on increasing its global market share and improving supply chain efficiencyThe government is focusing on efforts to boost exports and competitiveness through quality improvement and supply chain streamliningTrade agreements with countries like the US UK and EU are expected to drive further growth The industry is also targeting emerging markets in Africa Latin America and the CaribbeanThe plastics industry is present across the country and has more than 2500 exporters It employs more than 4 million people in the country and constitutes 30000 processing units among these 8590 per cent belong to small and medium enterprisesIndia manufactures various products such as plastics and linoleum houseware products cordage fishnets floor coverings medical items packaging items plastic films pipes and raw materials The country majorly exports plastic raw materials films sheets woven sacks fabrics and tarpaulin The Government of India intends to take the plastic industry 126 billion in the next five yearsAs many as 10 Plastic Parks have been approved in the country by the Department of Chemicals and Petrochemicals Among these six plastic parks have received final approval from the following states â Madhya Pradesh two parks while Assam Tamil Nadu Odisha and Jharkhand have each given clearance for one park These parks are intended to boost employment and attain environmentally sustainable growth IANS https://dailyworld.in/business/piyush-goyal-exhorts-domestic-plastics-industry-to-double-exports-648945.html Mon, 17 Nov 2025 02:31:00 +0530 https://dailyworld.in/business/john-ternus-leads-as-internal-contender-for-apple-ceo-position-report-648839.html New Delhi Nov 15 US tech giant Apples Senior VicePresident of hardware engineering John Ternus is viewed inside the company as a leading contender to succeed Chief Executive Tim Cook who is set to step down in early 2026 a report said on Saturday Appleâs board and senior leaders have accelerated its succession plans and increased focus on a smooth leadership transition as the company prepares for Tim Cooks resignation after 14 years at the helm of the 4 trillion tech giant the report from Financial Times said adding that no final decision has been madeIf appointed Apple would get a hardwarefocused leader in Ternus when it seeks expansion into new product categories to keep pace with Silicon Valley competitors in AIThe move is not tied to Appleâs current performance as the company expects a strong yearâend sales season particularly for the iPhoneApple is unlikely to appoint a new CEO before its earnings report in late January the report saidIt noted that the company would allow the successor time to settle ahead of the Worldwide Developers Conference in June and the iPhone launch in SeptemberCook who turned 65 this month became Apples CEO in 2011 after cofounder Steve Jobs passed away Under his leadership Appleâs market value grew from around 350 billion in 2011 to 4 trillionAppleâs stock nears a record high with a 12 per cent annual gain following strong results last month But Appleâs gains trail US rivals like Alphabet Nvidia and Microsoft which have soared amid investor enthusiasm for artificial intelligenceApple recorded its highestever quarterly shipments in India in the third quarter of 2025 Q3 2025 reaching 5 million units and securing the fourth position in the market for the first time IANS https://dailyworld.in/business/john-ternus-leads-as-internal-contender-for-apple-ceo-position-report-648839.html Sun, 16 Nov 2025 00:14:00 +0530 https://dailyworld.in/business/indianbiosphere-reserves-testament-to-how-culture-sustainable-development-can-coexist-648842.html New Delhi Nov 15 The biosphere reserves in India showcase how biodiversity cultural richness and sustainable development can coexist underscoring the continuing journey to balance nature and people according to a report More than being preserved wilderness the countrys landscapes âare dynamic zones where ecological stewardship is interwoven with local livelihoods scientific research and policy learningâ India Narrative reportedAs per recent data the country has 18 biosphere reserves spanning 91425 square kilometersOf these 13 reserves are recognised as part of UNESCOâs World Network of Biosphere Reserves highlighting their global significanceThe report stated that the countryâs biosphere reserves âare designed as âliving laboratoriesâ places where sustainable practices are not just theorised but actively testedâThis is visible with the doubling of the budget for biodiversity conservation Rs 10 crore in 202526Notably the countryâs biosphere reserve programme works in tandem with iconic national initiatives such as Project Tiger Project Elephant and the Green India MissionâThese integrated efforts form a policy ecosystem where species conservation ecosystem management and community development sustain and reinforce each otherâ the report saidThe efforts led to substantial gains in forest cover and qualityâ leading to the country being ranked ninth globally in total forested area and third in annual forest increaseâSuch progress is not merely statistical It signifies discernible shifts in land use improved ecosystem resiliency and enhanced prospects for local populations who depend on forest products and servicesâ the report saidBiosphere reserves also deliver other benefits such as âimprovements in ecological health stronger climate resilience in vulnerable habitats and innovative alternative livelihoods for forestdependent communitiesâFurther the countryâs biosphere reserves also offer valuable lessons for the worldâIndiaâs commitments to national and international protocols its legal framework and willingness to experiment with financial models all set benchmarks other countries can aspire toâ the report saidAmid accelerating climate change increasing population and rising economic pressures âthe real test for biosphere reserves will be their ability to remain inclusive flexible and genuinely participatoryâ it addedThe report called for integrating ecological social and economic perspectives to ensure that forests wildlife and people thrive together IANS https://dailyworld.in/business/indianbiosphere-reserves-testament-to-how-culture-sustainable-development-can-coexist-648842.html Sun, 16 Nov 2025 00:19:00 +0530 https://dailyworld.in/business/gujarat-how-a-small-village-in-amreli-became-fully-solar-powered-community-648846.html Dhudhala Gujarat Nov 15 Nestled in the Lathi taluka of Amreli district the quiet village of Dudhala has now risen to fame as a shining example of sustainable living With a population of over 2000 people and more than 400 homes Dudhala has achieved what many rural communities only dream of a village powered entirely by solar energyThree years ago every household in Dudhala had a solar system installed on its rooftop Since then not a single home in the village has received an electricity bill Fans lights refrigerators and other appliances run smoothly yet the monthly bill reads zero For the villagers this is nothing short of a revolutionMuch of this transformation became possible thanks to the efforts and generosity of Govindbhai Dholakia an industrialist from Surat who funded the installation of solar systems across the entire village Unlike gridtied community installations each house in Dudhala has its own individual solar setup tailored approximately per kilowatt to the households needsTalking to IANS Ashokbhai Sheliya a local resident recalls how life once was in Dudhalaâelectricity bills ranged between Rs 1000 and Rs 1500 every month Families avoided using appliances freely always worried about the rising cost of power Today he says with pride âWe use electricity without fear For three years now our bill has been zeroâJayraj Barad shares his own experience After installing a 1 kW solar system on his roof he hasnât paid a single rupee in electricity bills for three years and the remaining units generated by his system continue to accumulate as credit with PGVCL He firmly believes that if the government provides subsidies for such projects then every village should embrace solar energy for longterm benefitsThe elderly residents of Dudhala are especially proud Parsotambhai Barad explains that since the entire village is powered with solar energy no household has been charged for electricity and homes with low consumption even accumulate surplus credit in the power department With a smile he calls it âa blessing of the sunâDudhala now stands as the first fully solarpowered village in Amreli district a beacon of innovation and selfreliance The villagers enjoy uninterrupted costfree electricity and the success of this initiative has inspired conversations across the regionIf every village adopts a solar energy system like Dudhala rural communities could witness remarkable economic relief environmental benefits and true energy independence Dudhalaâs journey proves one thing for certain when a community embraces sunlight it can illuminate its future IANS https://dailyworld.in/business/gujarat-how-a-small-village-in-amreli-became-fully-solar-powered-community-648846.html Sun, 16 Nov 2025 00:31:00 +0530 https://dailyworld.in/business/services-pmi-foreign-reserve-infra-output-data-to-drive-market-sentiment-next-week-648893.html Mumbai Nov 16 As the second quarter Q2 earnings season almost gets over domestic indicators such as services PMI infrastructure output data and NDAs government formation in Bihar post landslide victory will drive the market sentiment next week according to market watchers on Sunday Globally market mood will be shaped by key US economic releases including the minutes of the latest FOMC meetingAdditionally the ongoing volatility in AIlinked stocks will remain a key factor to watch given its potential to influence broader market sentiment said Ajit Mishra of Religare BrokingThis week the domestic indices staged a strong rebound during the week ending firmly in the green after the recent phase of weaknessDespite volatility in the later sessions which was mostly caused by conflicting global developments sentiment was positive from the beginning and was bolstered by positive domestic cuesWith the help of lower GST rates and falling food prices Indias retail inflation dropped precipitously from 144 per cent in September to 025 percent in October which greatly boosted investor confidenceBecause of lower prices for nonfood items and softer crude oil wholesale inflation also fell into negative territory in October falling 121Additional support came from strong macro indicators including a 7 per cent YoY rise in net direct tax collections to over Rs 1292 lakh crore reflecting healthy corporate profitability and steady income growth Mishra said Expectations of an NDA win in the Bihar elections also helped boost political sentiment and increase risk appetite in generalFollowing the abovementioned positive cues both benchmark indices gained over one and a half per cent with the Nifty closing at 2591005 and the Sensex settling at 8456278 the analyst saidIT pharmaceutical and auto stocks led the recovery while sectoral performance stayed generally positive due to declining inflation steady demand patterns and rising global sentimentThe banking index setting a new record high was one of the weeks major highlights The only industry to finish slightly lower was real estate most likely as a result of profit booking after a robust previous runupFurthermore the India VIX closed at 119375 after dropping 494 per cent over the course of the week suggesting less volatility and a more stable market environment IANS https://dailyworld.in/business/services-pmi-foreign-reserve-infra-output-data-to-drive-market-sentiment-next-week-648893.html Sun, 16 Nov 2025 17:07:00 +0530 https://dailyworld.in/business/eight-of-indias-top-10-firms-add-over-rs-2-lakh-crore-in-value-last-week-648898.html Mumbai Nov 16 Indiaâs equity markets staged a forceful comeback this week lifting the cumulative market capitalisation of eight of the countryâs ten mostvalued companies by Rs 20518508 crore Even though two major players ended the day on a lower note the rebound was driven by a general increase in investor sentiment which was aided by firm global cues renewed institutional buying and easing volatilityThe enhanced risk appetite was reflected in the benchmark indicesThe recent corrective phase came to an end and the week concluded on a solid note as the NSE Nifty rose 41775 points 164 per cent and the BSE Sensex advanced 134650 points 162 per cent Meanwhile the two industries that contributed most to the creation of wealth were telecom and energyWith a dramatic increase of Rs 5565254 crore Bharti Airtel spearheaded the rally and increased its valuation to Rs 119670084 crore The next most valuable company in the nation was Reliance Industries whose market capitalisation increased by Rs 5494184 crore to Rs 205537961 croreStudents majoring in banking and IT also took part in the uprising While Infosys gained Rs 1044832 crore to reach Rs 62419880 crore Tata Consultancy Services added Rs 4075775 crore increasing its valuation to Rs 112341617 croreAmong lenders the State Bank of India SBI added Rs 105229 crore to reach Rs 89292379 crore HDFC Bank increased by Rs 914913 crore to Rs 152052434 crore and ICICI Bank increased by Rs 2083435 crore to Rs 98037443 croreHindustan Unilever one of the top performers saw a slight increase of Rs 287825 crore bringing its market capitalisation to Rs 57018706 croreBut the week wasnt entirely good as the two companies from the top 10 experienced erosion Bajaj Finance which lost Rs 3014794 crore fell to Rs 63357338 crore and Life Insurance Corporation of India which lost Rs 926612 crore caused its valuation to fall to Rs 57510042 croreReliance HDFC Bank and Bharti Airtel continue to lead Indias valuation hierarchy and the overall weekly gain highlights that bluechip counters continue to anchor the markets recovery despite the mixed performance at the bottom of the list IANS https://dailyworld.in/business/eight-of-indias-top-10-firms-add-over-rs-2-lakh-crore-in-value-last-week-648898.html Sun, 16 Nov 2025 17:12:00 +0530 https://dailyworld.in/business/finance-minister-to-continue-pre-budget-consultations-with-industry-stakeholders-this-week-648919.html New Delhi Nov 16 The Finance Ministry will resume its preBudget consultations for the Union Budget 2026â27 from November 18 engaging with stakeholders from various industries over a weeklong schedule According to reports the opening day will feature three key meetings â representatives from capital markets followed by startups and later the manufacturing sectorOn November 19 discussions will shift to the banking financial services and insurance BFSI sector and the information technology IT industry Members from the hospitality and tourism industries will meet the minister on November 20 with labour unions coming next Infrastructure energy and urban development representatives will meet with the finance minister on November 21Internal Officers and representatives from the social sector will meet to wrap up the exercise on November 26Last week Finance Minister Nirmala Sitharaman held the first prebudget consultations with leading economists ahead of the upcoming Union Budget 202627The meeting was attended by Chief Economic Adviser CEA V Anantha Nageswaran besides other economists and senior officers from the Department of Economic Affairs DEAâUnion Minister for Finance and Corporate Affairs nsitharaman chairs the first PreBudget Consultation with leading economists in connection with the upcoming Union Budget 202627 in New Delhi todayâ said an X post from the Ministry of FinanceâThe meeting was also attended by Secretary Department of Economic Affairs DEA FinMinIndia and Chief Economic Adviser Government of India besides senior officers from the DEAâ the ministry addedShe also chaired a prebudget consultation with stakeholders from micro small and medium enterprises MSMEsUnion Minister for Finance and Corporate Affairs nsitharaman chairs the third PreBudget Consultation with the stakeholders from Micro Small and Medium Enterprises MSMEs in connection with the forthcoming Union Budget 202627 in New Delhi today the Ministry said in an X postUnion Minister of State for Finance Pankaj Chaudhary and senior officials from the Ministry of Micro Small and Medium Enterprises were also present during the meeting IANS https://dailyworld.in/business/finance-minister-to-continue-pre-budget-consultations-with-industry-stakeholders-this-week-648919.html Sun, 16 Nov 2025 17:40:00 +0530 https://dailyworld.in/business/v-p-radhakrishnan-highlights-cags-global-standing-as-external-auditor-for-who-ilo-lead-648921.html New Delhi Nov 16 IANS VicePresident CP Radhakrishnan on Sunday highlighted that the global reputation of Indias Comptroller and Auditor General of India CAG has surged with its role as external auditor for organisations like the World Health Organisation WHO and the International Labour Organisation ILOAddressing the fifth Audit Diwas celebrations here the VicePresident also mentioned that currently CAG chairs the Asian Organisation of Supreme Audit Institutions ASOSAI and the International Organisation of Supreme Audit Institutions INTOSAI Committee including the Working Group on IT Audit positioning Bharat as a global leader in auditing standardsHe called it as a testimony to Bharats journey from being a follower to emerging as a global leaderIn his address VicePresident Radhakrishnan hailed the CAG as the guardian of the public purse emphasising its vital role in protecting public money and promoting good governanceHe lauded the CAGs 165 years of dedicated service legacy since the office of Auditor General was instituted in 1860Supreme Audit institutions across the world share one common purpose to protect public money and promote good governance Among them the CAG of India stands proudly upholding the principles of accountability transparency and integrity in public life he remarkedVicePresident Radhakrishnan applauded the CAG for notifying One Nation One Set of Object Heads of Expenditure for both the Union and state governments a reform that will significantly enhance transparency and comparability of government expenditureHighlighting Indias advancements in artificial intelligence AI big data blockchain and machine learning the VicePresident expressed happiness to note that the CAG through initiatives like the One Indian Audit and Accounts Department IAAD One System AIbased audit frameworks and several other measures has embedded technology predictive analytics and generative AI into the very DNA of public financial managementHe also praised the CAGs partnerships with premier institutions like IIT Madras to build capacity in data sciences cybersecurity and deep learningHe expressed satisfaction with the fact that a customised Large Language Model is being developed to feed more than 20000 inspection reports annually bolstering datadriven auditingTechnology adoption will enhance risk detection efficiency and evidencebased governance ensuring the optimal use of public funds the VicePresident saidTo achieve this we need to have a futureready and citizencentric civil service he addedThe VicePresident urged officers to continuously upgrade their skills and auditing capabilities ensuring that public welfare remains at the heart of governanceSenior officials present on the occasion included K Sanjay Murthy CAG of India Deputy CAGs Subir Mallick Krishnan Sagaran Subramanian and Jayant Sinha retired CAGs and officials from the Indian Audit and Account Service were present at the eventIANS https://dailyworld.in/business/v-p-radhakrishnan-highlights-cags-global-standing-as-external-auditor-for-who-ilo-lead-648921.html Sun, 16 Nov 2025 17:59:00 +0530 https://dailyworld.in/business/indias-central-bank-accounting-framework-rooted-in-rbi-act-deputy-governor--648726.html Mumbai Nov 14 Central banks are unique in two ways first they are public policy institutions that operate without any profit motive and second since they possess the exclusive authority to create money they cannot go bankrupt in the usual sense Reserve Bank of India RBI Deputy Governor Shirish Chandra Murmu said on Friday A central banks functions without a motive of profit its balance sheets reflect the policy measures it undertakes to address the prevailing economic conditions of the country during a given period and even if its balance sheet shows losses or negative equity it can still carry out its functionsAddressing an international conference on central bank accounting practices organised by the RBI jointly with the SEACEN centre here the Deputy Governor said that central bank mandates vary widely across jurisdictions reflecting their historical and institutional contextsDespite the differences in mandates functions or roles across countries at the heart of every central bank is monetary policy and financial stabilityCentral banks aim to maintain adequate capital and reserves risk buffers to be able to perform these critical functions effectively The Reserve Bank of India has one of the broadest mandates functioning as a fullservice central bank that undertakes a wide range of responsibilities typically associated with a central bank Murmu saidOn accounting standards he said that as widely understood there is no single globally accepted accounting standard designed specifically for central banks and hence their accounting and disclosure practices vary considerably in format depth and emphasisWhile some central banks have adopted the principles set out in International Financial Reporting Standards IFRS either in full or with modifications to suit their specific needs others continue to apply their own national accounting standards or use hybrid frameworks tailored specifically for the central bank he addedThe Deputy Governor hailed the RBIs accounting practices saying the entire ownership of the RBI remains vested with the Government of IndiaThe way RBI prepares its financial statements and sets its accounting policies is guided mainly by the RBI Act of 1934 and the RBI General Regulations of 1949Over time within this legal framework these policies have evolved to keep up with changing needs and practicesI am pleased to say that the Reserve Bank of India has a strong and resilient balance sheet with an adequate level of risk provisioning he notedOver the years the RBI has consistently worked to align its accounting practices with global best practices while staying true to core principles of prudence and conservatism he stated IANS https://dailyworld.in/business/indias-central-bank-accounting-framework-rooted-in-rbi-act-deputy-governor--648726.html Sat, 15 Nov 2025 00:58:00 +0530 https://dailyworld.in/business/andhra-receives-investment-commitments-worth-rs-1191-lakh-crore-648729.html Visakhapatnam Nov 14 Andhra Pradesh has received investment commitments to the tune of Rs 1191972 crore as it signed MoUs with 400 companies in two days These MoUs signed on Thursday and on the first day of the CII Partnership Summit on Friday are expected to provide employment opportunities to 1332 lakh youth According to an official release 41 MoUs were signed in the presence of Chief Minister N Chandrababu Naidu As many as 324 MoUs were signed in the presence of ministers with an investment of Rs 841786 crores The majority of MoUs were signed with Andhra Pradesh Capital Region Development Authority APCRDA Energy Food processing Industry trade IT and Municipal departmentsChief Minister Naidu asked a private firm chairman to purchase agricultural products from farmers in Andhra Pradesh He said that the mall of the private will not be a mere shopping mall but will help promote tourism in VisakhapatnamLater the Singapore government signed an MoU with Andhra Pradesh for cooperation in urban governance digital governance transformation and sustainability in the presence of Chief Minister and Minister Nara Lokesh and Singapore Minister Gan Siow Huang Union Minister K Rammohan Naidu and state Minister Nadendla ManoharSpeaking on the occasion Chief Minister Chandrababu Naidu said Andhra Pradesh is eager to work with Singapore which runs industries with innovative ideas He said Singapore developed by adopting the best public policies Minister Lokesh opined that it is a good beginning to work with SingaporeUnion Minister Rammohan Naidu announced introducing flights between Vijayawada and Singapore for three days a week soon IANS https://dailyworld.in/business/andhra-receives-investment-commitments-worth-rs-1191-lakh-crore-648729.html Sat, 15 Nov 2025 01:11:00 +0530 https://dailyworld.in/business/electronics-development-fund-invests-rs-258-crore-in-tech-startups-23-600-jobs-created-648769.html New Delhi Nov 15 The Electronics Development Fund EDF has invested Rs 25777 crore in eight Daughter Funds which have supported tech startups and created over 23600 jobs in India the government said on Saturday The Daughter funds supported by EDF have deployed Rs 133577 crore across 128 startups and ventures which have created or acquired 368 intellectual properties IPs according to an official statementEDF generally maintains a minority participation in each Daughter Fund encouraging greater private investment and professional fund managementThe supported startups operate in frontier areas such as Internet of Things IoT Robotics Drones Autonomous Vehicles HealthTech Cyber Security and Artificial Intelligence and Machine Learning positioning India as a hub for advanced technological innovationOut of the 128 supported startups Daughter Funds have exited from 37 investments from which it has generated returns of Rs 17388 croreBy enabling access to risk capital EDF has supported startups working on advanced technologies and contributed to expanding domestic design and intellectual property creation the government saidThese Daughter Funds in turn provided risk capital to startups and companies developing new technologies Investment Managers of Daughter Funds are given flexibility and autonomy to raise corpus make investments and monitor portfolio performanceTo foster research and development in electronics nanoelectronics and information technology by supporting marketdriven and industryled innovationLaunched on February 15 2016 EDF aims to promote research development and entrepreneurship in the fields of electronics nanoelectronics and information technologyThe fund focuses on enhancing Indiaâs capacity for indigenous design and development in the Electronics System Design and Manufacturing ESDM sectorEDF also aims to enable the acquisition of foreign technologies and companies where such products are imported in large volumes promoting selfreliance and reducing import dependence IANS https://dailyworld.in/business/electronics-development-fund-invests-rs-258-crore-in-tech-startups-23-600-jobs-created-648769.html Sat, 15 Nov 2025 12:15:00 +0530 https://dailyworld.in/business/mp-panna-diamonds-shine-brighter-with-gi-tag-648791.html Panna Nov 15 In a landmark achievement the worldfamous diamonds from Panna Madhya Pradesh have been awarded the prestigious Geographical Indication GI tag marking the states 21st GI product This longcherished recognition is set to elevate Pannas diamonds to new heights establishing a distinct identity both nationally and internationally while significantly boosting their brand valueChief Minister Mohan Yadav expressed his delight on X stating The Panna Diamond will shine internationally The Indian governments award of the GI tag to diamonds from Panna the diamond city is a matter of pride for the entire state of Madhya Pradesh This will open new opportunities for Pannas youth artisans and the local economyHe echoed the sentiment on Instagram emphasising the global spotlight now on Pannas sparkling gemsThe GI tag granted after a process initiated on June 7 2023 is expected to revolutionise the local diamond industry Experts believe it will enhance transparency quality assurance and global recognition creating new employment opportunities in mining and benefiting thousands of familiesThe tag will also expand export prospects driving a substantial increase in state revenueA Panna diamond officer hailed the milestone saying It is a matter of great pride for the districtThis will boost trade and attract visitors from across the country and abroad giving Panna a new identityKnown as the Diamond City Panna is renowned for its rich diamond mines and variety of precious gemstonesThe local administration and industry experts assert that the GI tag will carve a unique niche for Panna in the international market reinforcing its legacy as a gemstone hubThe people of Panna are jubilant as their longpending demand has been fulfilledWith this recognition the district is poised to reclaim its glory on the global map much like the dazzling diamonds unearthed from its minesAs Panna diamonds sparkle brighter than ever the GI tag promises economic prosperity cultural pride and a radiant future for the region IANS https://dailyworld.in/business/mp-panna-diamonds-shine-brighter-with-gi-tag-648791.html Sat, 15 Nov 2025 14:46:00 +0530 https://dailyworld.in/business/ed-arrests-real-estate-firm-md-in-pmla-case-accused-sent-to-14-day-custody-648792.html New Delhi Nov 15 The Enforcement Directorate ED has arrested Ocean Seven Buildtech Pvt Ltd OSBPL Managing Director Swaraj Singh Yadav after conducting searches at nine locations across DelhiNCR and other regions in a moneylaundering probe under the Prevention of Money Laundering Act PMLA 2002 an agency statement said on Saturday The action stems from allegations that Yadav diverted and laundered funds collected from homebuyers across multiple projects including those under the Pradhan Mantri Awas Yojana PMAYThe searches on Thursday led to the recovery of Rs 86 lakh in cash suspected to be proceeds of crime along with incriminating documents and digital evidenceAccording to the ED Yadav orchestrated a largescale diversion of homebuyer funds through fraudulent cancellation and resale of units at inflated prices cashbased premiums collected outside banking channels and misuse of escrow accountsHe allegedly routed substantial sums into shell entities and concealed cash proceeds with relatives the ED statement saidInvestigators also found a pattern of rapid liquidation of assets held personally and through company entities in Gurugram Maharashtra and Rajasthan which the agency believes was intended to secure illicit gains and evade legal scrutinyHis wife and children have already relocated to the United States the probe revealedThe agency said Yadav operated a dualpayment mechanism in the resale of PMAY flats and even in the sale of parking spaces routing only nominal amounts through banks while collecting the bulk in cash These activities form part of a wider probe linked to multiple FIRs alleging cheating forgery and other predicate offencesFollowing his arrest Yadav was produced before the Court of ASJ06 at Patiala House Courts on Friday in compliance with Supreme Court directionsAfter detailed submissions from both sides and a passover granted to allow him legal assistance the court sent him to ED custody for 14 days until November 28The agency has been directed to produce him before the court at 2 pm on the date of expiry of remandThe ED said it is pursuing further investigation to trace freeze and attach assets acquired from the laundered funds to ensure recovery and restitution to affected homebuyers IANS https://dailyworld.in/business/ed-arrests-real-estate-firm-md-in-pmla-case-accused-sent-to-14-day-custody-648792.html Sat, 15 Nov 2025 14:46:00 +0530 https://dailyworld.in/business/gujarats-garvi-gurjari-records-over-rs-17-crore-handloom-handicraft-sales-in-seven-months-648797.html Ahmedabad Nov 15 Gujarats handloom and handicraft sector has reported a strong revival with Garvi Gurjari recording sales worth over Rs 175 crore between April and October 2025 through its emporiums and 34 craft fairs held within and outside the state The surge in demand for indigenous products has provided employment to more than 7000 artisans marking a significant push towards the vision of Aatmanirbhar Gujarat to Aatmanirbhar BharatThe sales figures also include government gift hampers and dÃcor orders executed by the Handloom and Handicrafts Development CorporationUnder Chief Minister Bhupendra Patel and Cottage Industries Minister Naresh Patel and Minister of State Swaroop Thakor the state has intensified efforts to promote local artisans and traditional crafts in line with Prime Minister Narendra Modis Har Ghar Swadeshi Ghar Ghar Swadeshi campaignTo boost artisan incomes further the corporation has issued purchase orders worth Rs 13032 crore to craftsmen through its trainingcumproduction centres TCPCsThe corporation is now preparing for a fresh round of exhibitions in Delhi Amritsar Dehradun Lucknow Kolkata Surat and Surajkund aiming to expand market access for Gujarats indigenous productsAlongside the state is running extensive promotional campaigns across radio outdoor displays and railway stations to strengthen the Centres Vocal for Local initiative and encourage citizens to buy localGarvi Gurjari is also working to modernise traditional crafts by organising design workshops training sessions markettrend programmes and special design camps to help artisans adapt their products to contemporary demandThe corporation says its efforts are helping Gujarats rich handloom and handicraft heritage reach both national and global markets directly translating into sustained livelihoods for thousands of artisansSwadeshi products are available at Garvi Gurjari outlets across Gandhinagar Ahmedabad Vadodara Bhuj Salangpur Libandi Bharuch Anand Delhi Hyderabad Kolkata Surendranagar Ekta Nagar and Rajkot as well as online at wwwgarvigurjarigujaratgovinGujarats handicraft sector remains one of Indiaâs most vibrant with centuriesold traditions like Bandhani Patola weaving Ajrakh blockprinting Kutchi embroidery Rogan art lacquer work wood carving and brassware sustaining thousands of artisans across Kutch Saurashtra and North Gujarat IANS https://dailyworld.in/business/gujarats-garvi-gurjari-records-over-rs-17-crore-handloom-handicraft-sales-in-seven-months-648797.html Sat, 15 Nov 2025 14:50:00 +0530 https://dailyworld.in/business/gold-breaks-weekly-losing-streak-but-falls-after-us-govt-shutdown-ends-648799.html New Delhi Nov 15 The price of 24carat gold 10 grams surged by Rs 4694 over the week supported by safe haven buying and decline in dollar but fell from weekly high on Friday after the end of US government shutdown The price of 10 grams of 24carat gold closed the week at Rs 124794 down from Rs 120100 last week according to data published by the India Bullion and Jewellers Association IBJAThe domestic gold prices witnessed one of its sharpest intraday falls by nearly Rs 5000 per 10 gram on Friday to hit the days low of Rs 121895 but gained later in the dayThe yellow metal prices mirrored the softer trend in international markets where they were down by 127 per troy ounce as traders reacted to fading expectations of a nearterm US Federal Reserve rate cutInternational bullion remained around 4000 for the week after US Federal Reserve Chair Jerome Powells hawkish remarks fading hopes of rate cutsMarket expectations for another cut in December slipped from around 90 per cent to near 60 per cent pressuring bullion while the dollar index held close to 100 and USDINR climbed toward 89Analysts said that precious metals were poised for their strongest weekly performance in a month driven by uncertainty from missing US economic data which has increased safehaven demandThe yellow metal however declined on Friday after the end of the US government shutdown which in turn faded concerns about economic disruptionAnalysts said that gold has support at Rs 125750124980 zones while resistance at Rs 127750128400 Silver has support at Rs 160950159400 while resistance at Rs 163850164900They forecast the current softness in bullion to continue in the near term until there is a renewed surge in safe haven buying or a clear shift in the Federal Reserveâs policy tone IANS https://dailyworld.in/business/gold-breaks-weekly-losing-streak-but-falls-after-us-govt-shutdown-ends-648799.html Sat, 15 Nov 2025 15:13:00 +0530 https://dailyworld.in/business/indian-media-and-entertainment-sector-projected-to-cross-100-billion-by2030-648828.html New Delhi Nov 15 The countryâs media and entertainment sector is projected to cross 100 billion by 2030 said the government on Saturday The sector which has emerged as one of the countryâs fastestgrowing industries is powered by digital innovation youthdriven demand and a surge in creative entrepreneurshipâRecognised by the government as a highpotential segment within the services economy the sector is projected to grow at a compound annual rate of about 7 per cent reaching approximately Rs 3067 billion by 2027 The national outlook envisions this ecosystem scaling up to 100 billion by 2030 signalling a decisive shift from a contentconsuming nation to a global creator and exporter of intellectual propertyâ said the government in an official statementWith its gross valueadded share steadily increasing over the last decade the sector contributes significantly to value addition and job creationThe country offers a 40 to 60 per cent cost advantage in animation and VFX services supported by a large skilled workforceâThis comparative edge has attracted a steady inflow of international projects and positioned India as a preferred destination for global postproduction workâ the statement saidFurther Indian stories are building emotional and cultural connections across continents with nearly 25 per cent of total viewership for Indian OTT content originating from overseas audiencesThe government noted that the formal recognition of the Animation Visual Effects Gaming Comics and Extended Reality AVGC XR sector is a key factor behind the creative resurgenceIn the AVGC XR sector technology storytelling and innovation converge defining the next chapter of the countrys media and entertainment growth the statement saidIndiaâs AVGC XR sector is entering a phase of strategic growth marked by innovation skill development and policy convergence The focus ahead lies in transforming the creative economy into a global powerhouse driven by indigenous talent technological advancement and creative entrepreneurship the statement said IANS https://dailyworld.in/business/indian-media-and-entertainment-sector-projected-to-cross-100-billion-by2030-648828.html Sat, 15 Nov 2025 23:53:00 +0530 https://dailyworld.in/business/fii-selling-in-nov-crosses-rs-13-925-crore-trend-set-to-reverse-648831.html New Delhi Nov 15 Foreign institutional investor FII selling accelerated in early November as the total selling crossed Rs 13925 crore till weekend NSDL data showed on Saturday Analysts said that softer earnings in India compared to other markets has accelerated the momentum sell trade in India which is getting invested in US China Taiwan and South Korea regarded as the beneficiaries of the ongoing AI tradeHowever the AI trade cannot continue for long since there are concerns of a bubble building up in AI stocks and when the AI trade loses steam India will attract FII inflows said Dr VK Vijayakumar Chief Investment Strategist Geojit Investments Limited adding that the timeline for this prediction cannot be predictedThe longterm trend of FII buying through the primary market continues with an investment of Rs 7833 crores so far in November For 2025 till now total FII sell figure through exchanges stood at Rs 208126 crores Meanwhile the total buy figure for the primary market stood at Rs 62125 croresRegarding FPI investing trends Manoj Purohit Partner amp Leader Financial Services Tax Tax and Regulatory Services BDO India said that inflows have witnessed continuous volatility with some sign of recovery in coming timesMajor factors that contribute to this positive shift are the record domestic sales during this festive month sustained corporate earnings growth ongoing talks on IndiaUS trade deals he addedHe also cited several reforms and SEBI measures for the positive shift including KYC alignment simplified account rules and a singleâwindow India Market Access platformMeanwhile the sustained selling has pushed FPI ownership in NSEâlisted companies down to 169 per cent in the September quarter marking the lowest level in over 15 years IANS https://dailyworld.in/business/fii-selling-in-nov-crosses-rs-13-925-crore-trend-set-to-reverse-648831.html Sat, 15 Nov 2025 23:58:00 +0530 https://dailyworld.in/business/vice-president-lauds-rotary-internationals-work-on-health-and-literacy--648710.html New Delhi Nov 14 Vice President C P Radhakrishnan on Friday lauded Rotaryâs centuryold legacy that has significantly contributed to public health literacy clean water access environmental conservation and peacebuilding Inaugurating the Rotary Tejas â Wings of Change event at Yashobhoomi here Radhakrishnan said that these monumental efforts exemplify the power of collective goodwill and selfless service which are at the heart of Rotaryâs mission and deeply resonate with Indiaâs own ethos of Seva Parmo DharmaThe event spanning from November 14th to 16th has brought together over 1400 Rotarian leaders decisionmakers influencers and guests from across IndiaThe VicePresident said that Tejas embodies the light of knowledge and the warmth of compassion qualities essential for driving transformation and nationbuilding in the modern era He emphasised that India stands at a pivotal juncture of unprecedented opportunity and innovation championed by the government under the leadership of Prime Minister Narendra Modi In this journey the collaboration between governance and citizenled initiatives such as Rotary forms a cornerstone for inclusive sustainable and humane developmentReflecting on his personal association with Rotary Radhakrishnan shared his experiences as a Rotaractor during his student days participating in district conventions which instilled in him the values of community service and leadership He recalled landmark contributions by Rotary in India such as the introduction of the first ambulance service on the National Highway by the Coimbatore Rotary and mentioned the organisationâs rapid expansion as the fastestgrowing philanthropic group in the countryThe VicePresident underscored Rotaryâs transformative impact in eradicating polio on a global scale with the organisation investing over 2 billion dollars into its flagship Global Polio Eradication ProgrammeHe also recognised the synergistic role of corporate social responsibility CSR initiatives in enhancing Rotaryâs humanitarian work He emphasised that development is a collective responsibilityâbeyond governments aloneâand that the sustained efforts of citizens community groups and corporate partners build the moral and social capital of the nationThe VicePresident lauded Rotaryâs active involvement in key national missions such as Swachh Bharat Beti Bachao Beti Padhao and Har Ghar Jal showcasing how grassroots participation and publicprivate partnerships amplify the impact of these initiativesThe VicePresident urged all Rotarians to continue their role as torchbearers of progress and innovation encouraging them to embrace new ideas to advance skill development environmental sustainability digital literacy and healthcare accessibility across India He highlighted that Rotaryâs unique ability to unite diverse individuals with a common purpose enriches its effectiveness in creating meaningful changeRotary International is a global network of over 14 million professional and community leaders committed to addressing the worldâs most pressing humanitarian challenges In India Rotary boasts a membership of more than 210000 individuals across 6700 clubs who actively lead projects focusing on health education environment peacebuilding and economic development IANS https://dailyworld.in/business/vice-president-lauds-rotary-internationals-work-on-health-and-literacy--648710.html Fri, 14 Nov 2025 22:09:00 +0530 https://dailyworld.in/business/rbi-eases-norms-to-help-exporters-amid-global-headwinds-648720.html Mumbai Nov 14 The Reserve Bank of India RBI on Friday announced several measures to mitigate the impact of trade disruptions on Indian exports arising on account of global headwinds The new guidelines that kick in with immediate effect include an extension in the time period for realisation and repatriation of full export value of goods and services exported from India from 9 months to 15 months from the date of export and increase in the time period for shipment of goods from 1 year to 3 years from the date of receipt of advance payment or as per agreement whichever is laterIn order to ease the burden of debt repayments on specific impacted sectors the new norms also impose a moratorium on payment of all term loans and recovery of interest on working capital loans as applicable falling due between September 1 2025 and December 31 2025Lenders have been given permission to recalculate âdrawing powerâ in working capital facilities either by reducing the margins or basis reassessment during this period to provide further relief to exportersThe RBI has also relaxed the conditions for repayment of export credit The maximum credit period has been enhanced from 1 year to 450 days for preshipment and postshipment export credit disbursed till March 31 2026Besides lenders have been allowed to liquidate packing credit facilities availed by exporters on or before August 31 2025 where dispatch of goods could not take place from any legitimate alternative sources including domestic sale proceeds of such goods or substitution of contract with proceeds of another export order the RBI further statedThe Federation of Indian Export Organisations FIEO has welcomed the RBIs decision for the extension of the export realisation period and the easing of the burden on debt repayments on specific impacted sectors through moratorium or deferment of payment and also provided the permission to lenders to recalculate âdrawing powerâ in working capital facilities and the easing of export credit normsFIEO President SC Ralhan said The extension will provide great relief to the export trade Exporters will be able to offer a better credit period to the foreign buyers Traderelated compliance will get strengthened due to this protrade development Indian exporters will get sufficient time for the shipment of goods on receipt of advance payment Relief measures related to term loan and packing credit will enable exporters to manage their liquidity suitablyThis extension may be in line with several other economies which will ensure a level playing field to Indian exporters he added IANS https://dailyworld.in/business/rbi-eases-norms-to-help-exporters-amid-global-headwinds-648720.html Fri, 14 Nov 2025 23:33:00 +0530 https://dailyworld.in/business/sensex-nifty-open-lower-amid-negative-global-cues-648479.html Mumbai Nov 14 The Indian benchmark indices opened in the red zone on Friday amid negative global cues due to fading hopes of US Fed rate cut and persistent selling by foreign institutional investors FIIs as counting went underway for Bihar poll results As of 925 am the Sensex declined 292 points or 035 per cent to 84185 and the Nifty dipped 85 points or 033 per cent to 25794The broadcap indices performed in contrast to the benchmarks with the Nifty Midcap 100 up 027 per cent and the Nifty Smallcap 100 advanced 015 per centSectoral indices on NSE were trading mixed with FMCG down 028 per cent IT down 094 per cent Auto down 035 per cent and Metal down 054 per cent being the main laggards Nifty Media was the standout gainer up 072 per centAnalysts said that the reaction to Bihar election results will be only temporary though it will dominate the market today The markets medium to longterm trend will depend on fundamentals especially earnings growth On this front there is room for optimism as indicated by prospects of robust GDP growth and improving earnings growth they addedAnalysts placed immediate resistance for Nifty at 25950 followed by 26000 and support at 25700 and 25750 zonesAsiaPacific markets dropped in early trading sessions tracking losses on Wall Street as technology stocks continued their decline and hopes of Fed rate cuts dwindledThe US markets ended in the red zone overnight as Nasdaq continued its decline slipping 229 per cent the SampP 500 dropped 166 per cent and the Dow lost 165 per centIn Asian markets Chinas Shanghai index dipped 1 per cent and Shenzhen dipped 109 per cent Japans Nikkei dipped 165 per cent while Hong Kongs Hang Seng Index declined 1 per cent South Koreas Kospi dipped 2 per centOn Thursday foreign institutional investors FIIs sold equities worth Rs 384 crore while domestic institutional investors DIIs were net buyers of equities worth Rs 3092 crore IANS https://dailyworld.in/business/sensex-nifty-open-lower-amid-negative-global-cues-648479.html Fri, 14 Nov 2025 14:10:00 +0530 https://dailyworld.in/business/adani-to-invest-rs-63-000-crore-for-two-energy-projects-in-assam-generate-thousands-of-jobs-648483.html Ahmedabad Nov 14 Adani Power and Adani Green Energy two flagship Adani Group companies on Friday announced that they have received Letters of Award LoA from the Assam government for two transformative projects worth Rs 63000 crore in the state Adani Power Ltd Indiaâs largest private sector power generator will invest Rs 48000 crore to set up a 3200 MW greenfield ultra supercritical power plant in AssamSeparately Adani Green Energy Ltd AGEL Indiaâs largest renewable energy company intends to invest Rs 15000 crore to set up two Pumped Storage Plants PSP in the state with a combined capacity of 2700 MWAGEL has received an LoA for 500 MW of energy storage capacity which will be catered from the above PSPs according to the company statementThe stateoftheart thermal power plant and a pioneering pumped storage facility would see a collective investment of Rs 63000 crore in the stateâThe NorthEast is emerging as a vital frontier in Indiaâs growth story and we are proud to contribute to its transformation Our 3200 MW thermal power project and 2700 MW PSP projects in Assam collectively represent not only the largest private sector investment in the region but also firm steps toward energy security industrial development and job creationâ said Gautam Adani Chairman of the Adani GroupThese landmark initiatives underscore the Adani Groupâs strategic focus on the advancement of Indiaâs northeastern region aligning with Chairman Gautam Adaniâs pledge in February this year to invest Rs 50000 crore in the regionâs development and growthâThese projects will not only energise Assam but also catalyse progress across the entire northeastern corridor We are honoured to contribute to Assam and the entire northeastâs progress and look forward to building partnerships that uplift local communities and drive Indiaâs energy transformationâ Gautam Adani mentionedAdani Power emerged as the successful bidder offering the lowest tariff of Rs 630 per kWh through a tightly contested bidding process The company will set up an Ultra Super Critical plant under the Design Build Finance Own and Operate DBFOO model The coal linkage for the power plant has been allocated under the SHAKTI Policy of the Government of IndiaThe project which is expected to generate direct and indirect employment for around 20000 to 25000 people during the construction phase and sustain around 3500 jobs during the operations phase will be commissioned in a phased manner from December 2030Adani Green Energy too emerged as the lowest bidder for 500MW of energy storage capacity The project will introduce cuttingedge solutions for energy storage grid stability and managing electricity demand during peak times thus ensuring a sustainable and resilient supply of electricity It will play a crucial role in integrating renewable energy sources supporting Assamâs journey toward a greener future IANS https://dailyworld.in/business/adani-to-invest-rs-63-000-crore-for-two-energy-projects-in-assam-generate-thousands-of-jobs-648483.html Fri, 14 Nov 2025 14:16:00 +0530 https://dailyworld.in/business/anil-ambani-skips-appearing-before-ed-for-questioning-648486.html New Delhi Nov 14 Reliance ADAG Group Chairman Anil D Ambani has skipped the Enforcement Directorate ED summon to appear before it at the Delhi headquarters for the second round of questioning on Friday offering to appear by virtual means only In a statement on behalf of Anil Ambani the company said he will fully cooperate with ED on all matters and is willing to appear by virtual meansAccording to ED sources they have not received any such communication from Anil Ambani or his company so farThe statement on behalf of Anil Ambani said that âED summons to Anil D Ambani relate to a FEMA inquiry and not to any matter under the PMLAâAnil D Ambani is not a member of the Board of Reliance Infrastructure He served the company for about fifteen years from April 2007 to March 2022 only as a nonexecutive director and was never involved in daytoday management of the companyâ the statement addedThe Enforcement Directorate ED had summoned Anil Ambani again on November 14 for questioning in the money laundering case against the conglomerate He faced a gruelling around ninehour interrogation regarding an alleged Rs 17000crore loan fraud case at ED headquarters in AugustThe development comes close on the heels of ED provisionally attaching over 132 acres of land worth Rs 446281 crores in Dhirubhai Ambani Knowledge City at Navi Mumbai on Monday under the provisions of Prevention of Money Laundering ActED had earlier attached 42 properties worth over Rs 3083 crores in the bank fraud cases of Reliance Communications Ltd RCOM Reliance Commercial Finance Ltd and Reliance Home Finance LtdâThe total attachment in these cases stands at over Rs7545 crores ED is actively pursuing perpetrators of financial crime and is committed to restituting the proceeds of crime to their rightful claimantsâ the statement saidED had initiated investigation based on CBIâs FIR under sections 120B 406 and 420 of the Indian Penal Code 1860 and section 132 read with section 131d of the Prevention of Corruption Act 1989 against RCOM Anil Ambani and others IANS https://dailyworld.in/business/anil-ambani-skips-appearing-before-ed-for-questioning-648486.html Fri, 14 Nov 2025 14:19:00 +0530 https://dailyworld.in/business/adani-group-to-invest-rs-1-lakh-crore-in-andhra-pradesh-in-next-10-years-648490.html Visakhapatnam Nov 14 The Adani Group on Friday announced plans to invest Rs 100000 crore over the next decade in Andhra Pradesh across ports cement data centres energy and advanced manufacturing This is over and above the Rs 40000 crore already invested by the Adani Group in the state across ports logistics cement infra and renewable energySpeaking at the Andhra Pradesh Investor Summit here Adani Ports and Special Economic Zone Ltd APSEZ Managing Director Karan Adani unveiled the Groups 15billion Vizag Tech Park vision which includes building one of the worlds largest greenpowered hyperscale datacentre ecosystems in partnership with GoogleExisting Adani Group operations in Andhra Pradesh have already created over one lakh direct and indirect jobs with more largescale employment generation planned through upcoming projectsKaran Adani described Chief Minister N Chandrababu Naidu as an institution and the original CEO of Andhra Pradesh and praised Andhra Pradesh Human Resources Development Information Technology and Electronics Minister Nara Lokesh for driving a culture of speed efficiency and startuplike governanceWe see Andhra Pradesh not as a destination for investment but as a launchpad for Indias next decade of transformation The flagship of our commitment is the Vizag Tech Park This is not just another tech park it is the foundation of Indias digital sovereignty We are building one of the worlds largest hyperscale datacentre ecosystems in partnership with Google and powered by green energy said Karan Adani while addressing the gatheringBut what truly humbles us is not the scale of capital it is the scale of impact Our operations here have already generated over one lakh direct and indirect jobs and far more is to come That means families supported skills developed and futures built right here in this great state he added IANS https://dailyworld.in/business/adani-group-to-invest-rs-1-lakh-crore-in-andhra-pradesh-in-next-10-years-648490.html Fri, 14 Nov 2025 14:23:00 +0530 https://dailyworld.in/business/da-hikes-wont-be-withdrawn-for-retired-employees-govt-dismisses-fake-post-648494.html Mumbai Nov 14 The government has dismissed a viral social media message that claimed retired government employees would stop receiving dearness allowance DA hikes and future pay commission benefits under the Finance Act 2025 The claim is fake Rule 37 of the CCS Pension Rules 2021 has been amended to state that if an absorbed PSU employee is dismissed for misconduct their retirement benefits will be forfeited the government said in a social media post on X platformThe recent amendment only related to a narrow group under the CCS Pension Rules 2021 where Rule 3729C was amended after consultation with the Department of Pension and Pensionersâ Welfare and the Ministry of FinanceThe amendment applies to former government employees who were absorbed into a PSU whose retirement benefits will be forfeited only if the employee is later dismissed or removed from the PSU for misconductThe governments fact checking arm noted on social media that the viral message falsely claimed Finance Act 2025 overriding a 1982 Supreme Court judgementThe clarification follows the Centres approval of the Terms of Reference for the 8th Pay Commission which has an 18âmonth timeline to submit its reportThe National CouncilJoint Consultative Machinery NCJCM representing central government employees had proposed that the 8th Pay commission should calculate the minimum wage based on a fiveunit family model including ageing parents instead of the current model which accounts for only three family membersCurrently under the 7th Pay Commission the earning husband of the family is counted as one unit wife as 08 unit and two children as 06 units eachNCJCM expects this model to be revamped arguing that taking care of parents apart from being an ethical duty is also a legal responsibility as per Indian law IANS https://dailyworld.in/business/da-hikes-wont-be-withdrawn-for-retired-employees-govt-dismisses-fake-post-648494.html Fri, 14 Nov 2025 14:26:00 +0530 https://dailyworld.in/business/anil-ambani-skips-ed-questioning-no-virtual-appearance-allowed-648497.html New Delhi Nov 14 The Enforcement Directorate ED will not grant any virtual appearance to Reliance ADAG Group Chairman Anil D Ambani after the latter sought it in response to a summons sent by the investigative agency to appear before it for questioning in a money laundering case according to sources on Friday Anil Ambani skipped the ED summons to appear for the second round of questioning at the agencyâs Delhi headquarters on Friday November 14As per ED sources no virtual appearance will be given to Anil Ambani as requested The regulator however has received an email from him regarding his availability via virtual meansAnil Ambani in a media statement said that he is willing to offer to appear by virtual means adding that he will fully cooperate with ED on all mattersThe statement claimed that ED summons to Anil D Ambani relate to a Foreign Exchange Management Act FEMA inquiry and not to any matter under the Prevention of Money Laundering Act PMLAThe summons concerns a 2010 domestic EPC contract for the JaipurâReengus JR Toll Road and concerns issues associated with a road contractor with no foreign exchange component it saidAnil D Ambani is not a member of the Board of Reliance Infrastructure He served the company for about fifteen years from April 2007 to March 2022 only as a nonexecutive director and was never involved in the daytoday management of the company it addedThe ED had summoned Anil Ambani again on November 14 for questioning in the money laundering case against the conglomerate He faced a gruelling around ninehour interrogation regarding an alleged Rs 17000crore loan fraud case at ED headquarters in AugustThe financial probe agency had earlier attached 42 properties worth over Rs 3083 crore in the bank fraud cases of Reliance Communications Ltd RCOM Reliance Commercial Finance Ltd and Reliance Home Finance Ltd IANS https://dailyworld.in/business/anil-ambani-skips-ed-questioning-no-virtual-appearance-allowed-648497.html Fri, 14 Nov 2025 14:31:00 +0530 https://dailyworld.in/business/india-canada-agree-to-continue-trade-engagements-early-next-year-648505.html New Delhi Nov 14 India and Canada have agreed to hold sustained ministerial engagements with the trade and investment community in both countries early next year an official statement said on Friday The agreement was made at the âMinisterial Dialogue on Trade and Investmentâ between Union Minister for Commerce and Industry Piyush Goyal and Canadaâs Minister of Export Promotion International Trade and Economic Development Maninder SidhuSidhus fourday visit in India ended on Friday with the ministers emphasising continued engagement with the private sector to unlock new opportunities for trade and investmentFurther they reaffirmed the strength and continuity of the IndiaâCanada economic partnershipThe ministers noted that bilateral trade in goods and services reached 2366 billion in 2024 with merchandise trade value touching 898 billion up 10 per cent onyearThey agreed to encourage longâterm supplyâchain partnerships in critical minerals and clean energy collaboration to support the energy transitionFurther they agreed to expand investment and trading opportunities in aerospace and dualuse capabilities partnerships to identify investment and trading opportunities in aerospace and dualâuse capabilities leveraging the growth of Indiaâs aviation sectorThey also highlighted the need for strengthening resilience in critical sectors including agriculture and highlighted the need for diversified and reliable supply chainsThe ministers welcomed the steady expansion of twoway investment flows including notable Canadian institutional investment in India and the growing presence of Indian firms in Canada which together support tens of thousands of jobs the statement notedThe ministerial trade meeting followed the direction provided by Foreign Ministers of the two countries during their bilateral meeting on the sidelines of the G7 meeting in Kananaskis CanadaExternal Affairs Minister EAM S Jaishankar and his Canadian counterpart Anita Anand held discussions on strengthening cooperation across key sectors including trade energy and security Both leaders met on the sidelines of the G7 Foreign Ministers Meeting in Niagara IANS https://dailyworld.in/business/india-canada-agree-to-continue-trade-engagements-early-next-year-648505.html Fri, 14 Nov 2025 14:56:00 +0530 https://dailyworld.in/business/centre-asks-insurance-firms-to-speed-up-settlement-of-health-claims-648519.html New Delhi Nov 14 The Centre has asked insurers and hospitals to take measures such as expediting the onboarding on National Health Claims Exchange devising standardised treatment protocols common empanelment norms and seamless cashless claims processing to make healthcare affordable and accessible according to an official statement issued on Friday Secretary Department of Financial Services DFS M Nagaraju chaired a meeting to discuss the issues of medical inflation and rising premium costsThe meeting was attended by representatives from General Insurance Council Association of Healthcare Providers in India AHPI healthcare industry representatives from Max Healthcare Fortis Healthcare Apollo Hospitals and insurers like New India Assurance Company Limited Star Health Insurance and Bajaj Allianz General Insurance Company along with several othersFurther he emphasised that having standardised hospital empanelment norms across all insurers would ensure consistent cashless access for policyholders streamline the service terms improve operational procedures and reduce administrative burden on hospitalsHe stressed that the insurance companies should ensure that the policy holders are provided with the highest standards of service and better turnaround time especially during hospitalisation process and while providing approvals for settlement of claimsDuring the meeting the Secretary also advised that while medical inflation is interconnected with various cost drivers greater collaboration between hospitals and insurers through cost control and standardization is necessary to bring transparency and efficiency to ensure better value for health insurance policyholdersInderjeet Singh Secretary General General Insurance Council Dr Suneeta Reddy MD Apollo Hospitals Shivakumar Pattabhiraman MD Indraprastha Apollo Hospitals Abhay Soi CMD Max Healthcare Dr Girdhar J Gyani Director General AHPI Krishnan Ramachandran CEO Niva Bupa Health Insurance Amitabh Jain ED amp COO Star Health Insurance Meera Parthasarathy General Manager Oriental Insurance Company participated in the discussions along with several other stakeholders IANS https://dailyworld.in/business/centre-asks-insurance-firms-to-speed-up-settlement-of-health-claims-648519.html Fri, 14 Nov 2025 15:11:00 +0530 https://dailyworld.in/business/indias-retail-sector-leasing-surges-65-pc-to-32-million-sq-ft-in-july-sep-648524.html New Delhi Nov 14 Indiaâs retail sector saw robust demand in Q3 2025 with gross leasing of 32 million square feet across the top seven cities a 65 per cent yearâonâyear growth a report said on Friday On a quarteronquarter QoQ basis the Q3 gross leasing volume reflects a 22 per cent growth the report from commercial real estate firm JLL India saidDelhiNCR led accounted for 35 per cent of Q3 leasing driven largely by two newly constructed mallsFurther Indias leasing during the quarter helped lift its nineâmonth gross leasing to 89 million square feet which is 110 per cent of 2024âs fullâyear totalWith a total new supply infusion of 15 million sq ft in Delhi NCR and Hyderabad retailers that were waiting for expanding footprint due to supply constraints in the past were finally able to move ahead with new store openings in key micro marketsHyderabad followed Delhi accounting for 12 per cent of Q3 leasing while Mumbai and Bengaluru logged 06 million and 04 million square feet of retail space takeâupDuring the JulySeptember quarter fashion and apparel accounted for 35 per cent of leasing followed by food and beverage at 16 per cent The daily needs and grocery accounted for 11 per cent of leasing the release saidâQ3 saw heightened demand from daily needs and grocery retailers who typically require substantial space allocations and frequently serve as anchor tenants in premium retail developments said Dr Samantak Das Chief Economist and Head of Research amp REIS India JLLDirecttoconsumer D2C brands have been making significant investments in their clickandmortar strategies progressively expanding their physical store presence in fashion and apparel jewellery cosmetics and wellness categories the release notedLooking ahead D2C brands are positioned to capture an increasingly larger portion of the overall gross leasing activity Das said IANS https://dailyworld.in/business/indias-retail-sector-leasing-surges-65-pc-to-32-million-sq-ft-in-july-sep-648524.html Fri, 14 Nov 2025 15:16:00 +0530 https://dailyworld.in/business/hardeep-puri-meets-ceos-of-koreas-top-shipping-companies-648535.html New Delhi Nov 14 IANS Indias Petroleum and Natural Gas Minister Hardeep Singh Puri said that he held a highly productive meeting with the captains of South Koreas major shipping companies on FridaynbspDiscussed how energy and shipping are inseparable pillars of our rapidly growing economy under the leadership of Prime Minister Narendra Modi Our crude and gas imports worth over 150 billion are seaborne reflecting the scale of our energy and shipping vessel demand the minister said in a post on XThe top honchos of Korean shipping companies that attended the meeting include Korea Ocean Business Corporation KOBC CEO An Byung Gil SK Shipping CEO Kim Sung Ick HLine Shipping CEO Seo Myung Deuk and Pan Ocean Vice President Sung Je YongnbspWe also discussed how the combination of Koreas advanced shipbuilding technologies and Indias manufacturing base and lower production costs will lead to a mutually beneficial partnership that can serve our rising domestic needs as well as global markets for ships the minister saidThe oil ampamp gas sector alone accounts for nearly 28 per cent of Indias total trade by volume making it the single largest commodity group at our ports Yet only around 20 per cent of this cargo is carried on Indianflagged or Indianowned vessels Puri pointed outnbspWith Indias demand for crude oil LPG LNG and ethane rising rapidly and ONGC alone projected to require nearly 100 offshore service and platform supply vessels by 2034 there is a strong impetus for us to build ships in India in partnership with global leaders the minister saidHe had earlier pointed out that India with its 23 worldclass refineries and a total capacity of 2582 MMTPA million metric tonnes per annum now stands among the top five refining nations in the worldnbspIndias oil refining story is a story of growth innovation and selfsufficiency From meeting domestic demand to fuelling global markets the journey has been remarkable he remarkednbspHe hig hlighted that in 202425 the countrys petroleum product exports reached 647 million tonnes up from 555 million tonnes in 201415The country is on track to reach around 310 MMTPA by 2030 with longterm plans to scale further to 400450 MMTPA to become a global refining and energy hubnbspIndia is currently the secondlargest oil importer in the world after China as the country imports over 85 per cent of its crude requirementnbspThe top oil suppliers to India include Russia Iraq Saudi Arabia the United Arab Emirates and the United States https://dailyworld.in/business/hardeep-puri-meets-ceos-of-koreas-top-shipping-companies-648535.html Fri, 14 Nov 2025 16:04:00 +0530 https://dailyworld.in/business/world-stands-to-gain-by-partnering-with-india-piyush-goyal-648584.html Visakhapatnam Nov 14 IANS Commerce and Industry Minister Piyush Goyal on Friday said the world stands to gain by partnering with India as the country strengthens economic linkages that deliver shared prosperity globallynbspAddressing the Vizag CII Partnership Summit in Visakhapatnam in the presence of Vice President CP Radhakrishnan and Andhra Pradesh Chief Minister N Chandrababu Naidu Goyal said Bharats approach to navigating the new geoeconomic order includes focusing on prosperity through technology trust through righteousness and trade through capabilityHe cited three key recommendations to expand global cooperation facilitating twoway investments strengthening technology cooperation and building and sustaining trustnbspIndias growth story under PM Narendra Modis leadership has been built on the pillars of trust transparency innovation and inclusion the minister told the gatheringnbspGoyal further stated that India aspires to be a developed and prosperous nation where every state thrives and every citizen enjoys a high quality of lifeUnder visionary leadership Visakhapatnam has become a global trade hub rooted in rich heritage and modern innovation connecting Indias growth story with the world Innovation is the key Lets build and sustain trust through transparent governance and a predictive policy framework that promotes longterm partnership I would like to congratulate everyone driving this vision forward he highlightednbspCM Naidu said India is emerging as the worlds preferred investment destination driven by visionary leadership and democratic strengthAndhra Pradesh with its strategic coastline and proven ease of doing business stands as a gateway on Indias east coast As India rises from the 11th to the 3rd largest economy no force can deter its unstoppable growth and promise of prosperity he addedState Human Resources Development and IT Electronics and Communication Minister Nara Lokesh said you should consider investing in Andhra Pradesh because we offer what I like to call a doubleengine bullettrain governmentnbspUnder the guidance of visionary Indian leaders once we commit to a project it becomes a shared mission that we pursue with determination We are fully prepared to work with the government to implement reforms and regulatory improvements that will ensure your business not only succeeds but truly thrives in our great nation India he told the gathering https://dailyworld.in/business/world-stands-to-gain-by-partnering-with-india-piyush-goyal-648584.html Fri, 14 Nov 2025 16:35:00 +0530 https://dailyworld.in/business/indias-export-strategy-must-go-beyond-volume-expansion-to-generate-high-quality-jobs-experts-648604.html New Delhi Nov 14 Indiaâs export strategy must go beyond volume expansion to generate highquality jobs embed environmental responsibility and promote inclusivity Shishir Priyadarshi President of Chintan Research Foundation CRF said on Friday Speaking at an event here he said that the test of Indias strategy will not be how fast we grow but how sustainably we grow and who benefits from that growthIndiaâs total exports reached a record 8249 billion in FY 2024â25 including 3875 billion in services exports underscoring the countryâs growing trade influenceHowever sustaining this momentum will require greater focus on product diversification value addition and improved ease of doing business for exportersAlso India needs to realign its trade strategy to make exports the driving force of sustainable and inclusive growth CRF said in a statementIndustry leaders at the event said that strengthening labourintensive exports improving logistics efficiency and leveraging Free Trade Agreements FTAs were identified as crucial to achieving Indiaâs longterm growth ambitions and securing a greater share of global value chainsâThe productivity should be focused on technology which when harnessed with the skills can produce modern age jewellery making India the global leader in jewellery manufacturingâ observed Sabyasachi Ray Executive Director Gem and Jewellery Export Promotion Council GJEPCAddressing the same event he emphasised the need to strengthen Indiaâs labourintensive sectors such as gems and jewellery textiles and apparel which have strong employment potential and are critical to inclusive growthWhile India has signed multiple FTAs with key partners including the UAE Australia and the EU their benefits can only be realised through improved trade facilitation logistics reforms and targeted support for exportersFaster policy execution and streamlined customs processes to reduce transaction costs too are key to production Logistics modernisation and capital efficiency are key to lowering export costs and strengthening resilienceIndiaâs logistics costs need to be at par with those of competing economies making the implementation of the PM Gati Shakti programme and the National Logistics Policy NLP essentialEvery percentage point saved in logistics adds billions to export competitiveness Export competitiveness cannot be achieved in isolation It requires coordinated reforms in finance infrastructure education and sustainability standardsDeepak Bagla Mission Director Atal Innovation Mission NITI Aayog pointed out the growing synergy between innovation and tradeâExportled growth today is about exporting intelligence not just goods From services to semiconductors Indiaâs future lies in combining innovation with execution efficiencyâ he notedThe panellists concluded that Indiaâs economic future depends on converting its domestic strengths into global advantage IANS https://dailyworld.in/business/indias-export-strategy-must-go-beyond-volume-expansion-to-generate-high-quality-jobs-experts-648604.html Fri, 14 Nov 2025 16:40:00 +0530 https://dailyworld.in/business/hardeep-puri-meets-ceos-of-koreas-top-shipping-companies-648605.html New Delhi Nov 14 Indias Petroleum and Natural Gas Minister Hardeep Singh Puri said that he held a highly productive meeting with the captains of South Koreas major shipping companies on Friday Discussed how energy and shipping are inseparable pillars of our rapidly growing economy under the leadership of Prime Minister Narendra Modi Our crude and gas imports worth over 150 billion are seaborne reflecting the scale of our energy and shipping vessel demand the minister said in a post on XThe top honchos of Korean shipping companies that attended the meeting include Korea Ocean Business Corporation KOBC CEO An Byung Gil SK Shipping CEO Kim Sung Ick HLine Shipping CEO Seo Myung Deuk and Pan Ocean Vice President Sung Je YongWe also discussed how the combination of Koreaâs advanced shipbuilding technologies and Indiaâs manufacturing base and lower production costs will lead to a mutually beneficial partnership that can serve our rising domestic needs as well as global markets for ships the minister saidThe oil amp gas sector alone accounts for nearly 28 per cent of Indiaâs total trade by volume making it the single largest commodity group at our ports Yet only around 20 per cent of this cargo is carried on Indianflagged or Indianowned vessels Puri pointed outWith Indiaâs demand for crude oil LPG LNG and ethane rising rapidly and ONGC alone projected to require nearly 100 offshore service and platform supply vessels by 2034 there is a strong impetus for us to build ships in India in partnership with global leaders the minister saidHe had earlier pointed out that India with its 23 worldclass refineries and a total capacity of 2582 MMTPA million metric tonnes per annum now stands among the top five refining nations in the worldIndiaâs oil refining story is a story of growth innovation and selfsufficiency From meeting domestic demand to fuelling global markets the journey has been remarkable he remarkedHe highlighted that in 202425 the countryâs petroleum product exports reached 647 million tonnes up from 555 million tonnes in 201415The country is on track to reach around 310 MMTPA by 2030 with longterm plans to scale further to 400â450 MMTPA to become a global refining and energy hubIndia is currently the secondlargest oil importer in the world after China as the country imports over 85 per cent of its crude requirementThe top oil suppliers to India include Russia Iraq Saudi Arabia the United Arab Emirates and the United States IANS https://dailyworld.in/business/hardeep-puri-meets-ceos-of-koreas-top-shipping-companies-648605.html Fri, 14 Nov 2025 16:40:00 +0530 https://dailyworld.in/business/stock-market-ends-on-positive-note-over-ndas-huge-victory-in-bihar-polls-648620.html Mumbai Nov 14 Indian equity indices recovered from early losses to end the session on a positive note on Friday as the National Democratic Alliance NDA headed towards a landslide win in the Bihar elections The key indices remained volatile throughout the session as counting for votes for Bihars Assembly election continuesSensex settled at 8456278 up 8411 points or 010 per cent The share index started the session at 8406014 falling over 400 points against last days closing of 8447867 amid caution ahead of Bihar election results However the index jumped over 550 points from the days low to close in greenNifty closed at 2591005 up 3090 points or 012 per centIndian markets today witnessed a rollercoaster session with the benchmark index Nifty showing sharp twosided moves In the first half Nifty surged and tested the crucial 26000 level before facing resistance and slipping lower later in the day Ashika Institutional Equities said in its noteVolatility remained elevated as investors stayed cautious ahead of Bihar election results which hold significant political importanceTata Motors Eternal Axis Bank BEL Trent SBI Sun Pharma Bajaj Finance Adani Airports Hindustan Unilever Asian Paints ITC and NTPC were the top gainers from the Sensex basket Infosys Tata Steel Tata Motors PV ICICI Bank Maruti Suzuki and Tech Mahindra ended the session lowerSectoral indices experienced a mixed approach with selling in the IT and auto sectors and buying in the FMCG banking and finance stocks Nifty Bank rose 135 points or 023 per cent Nifty Fin Services jumped 95 points or 035 per cent and Nifty FMCG closed 317 points or 057 per cent higher While Nifty IT slipped 378 points or 103 per cent and Nifty Auto fell 143 points or 052 per centBroader market followed suit as well with Nifty Midcap 100 closed flat Nifty Small Cap 100 rose 68 points or 038 per cent and Nifty 100 ended the session slightly upRupee traded in a narrow range near 8870 as the dollar index remained flat around 9920 offering limited directional cuesWith no major US data releases due to the recent shutdown the market stayed largely dependent on flows where mixed FII activity and consistent DII buying kept the rupee in a confined band Crude prices have begun to rebound and if WTI sustains above 60 it may add fresh pressure on the rupee in the coming sessions Overall the rupee is expected to remain rangebound with levels seen between 8845â8895 said Jateen Trivedi of LKP Securities IANS https://dailyworld.in/business/stock-market-ends-on-positive-note-over-ndas-huge-victory-in-bihar-polls-648620.html Fri, 14 Nov 2025 17:20:00 +0530 https://dailyworld.in/business/wpi-inflation-to-remain-range-bound-in-near-term-analysts-648623.html New Delhi Nov 14 After Indias WPI data for October showed deflation industry bodies on Friday forecast WPI inflation to remain rangebound mainly due to benign international crude oil prices We expect WPI inflation to remain rangebound due to benign international crude oil prices comfortable buffer stocks of foodgrains and healthy kharif harvest said Dr Ranjeet Mehta CEO amp Secretary General PHD Chamber of Commerce and Industry PHDCCIStateowned Bank of Baroda forecasted that international commodity prices and oil prices may see some inching up if there is a revival in demand seen following the reopening of the US government after a 43daylong shutdownHigher than expected surplus in global supplies may also exert downward pressure on oil prices going forward the bank said adding that it may exert upward pressure on fuel inflation in the coming monthsThe Wholesale Price Inflation WPI fell into deflation territory at 1 21 per cent in October driven by a drop in prices of food fuel and manufactured items government data showed on FridayWPIbased inflation was 01 per cent in September and 28 per cent in October 2024The drop was primarily due to a decrease in prices of food articles crude petroleum and natural gas electricity mineral oils and the manufacture of basic metals among others PHDCCI President Rajeev Juneja saidCore WPI inflation â excluding food fuel and power â inched up to 15 per cent from 03 per cent a year earlier reflecting higher basic metal and aluminium prices even as items such as computers motor vehicles and food and beverages softened possibly after GST rate cutsCore inflation also inched higher to 15 per cent in October from 03 per cent in the previous year Within food vegetables fruits and spices helped drag the index down while protein eggs meat and fish and milk inflation increased the bank noted IANS https://dailyworld.in/business/wpi-inflation-to-remain-range-bound-in-near-term-analysts-648623.html Fri, 14 Nov 2025 17:23:00 +0530 https://dailyworld.in/business/govts-new-bill-has-potential-to-get-better-deal-for-indians-working-overseas-648451.html New Delhi Nov 13 The Governmentâs proposed Overseas Mobility Facilitation and Welfare Bill 2025 holds the potential for getting a better deal for Indiaâs talented skilled workers and professionals and also ensuring that they return home to their country of birth after finishing their work stints abroad This would strengthen the acceptance of Indian workers overseas amid the growing backlash against immigration in advanced countries such as the US According to an article in The Diplomat âThe new Bill represents Indiaâs attempt to reimagine labour mobility as a cornerstone of economic diplomacyââThe new Bill signals a paradigm shift Rather than passively watching its workforce scatter India is now actively negotiating the terms of their mobility Since 2014 New Delhi has signed labour mobility agreements with at least 20 countries across Europe Asia and the Persian GulfThe proposed legislation would replace the outdated Emigration Act of 1983 with a comprehensive framework that doesnât just facilitate overseas employment â it ensures workersâ safe and orderly return and reintegration of returneesâ the article statesThis is a recognition of a hard truth that while developed economies have shrinking populations and few workers countries like India have stable populations but few jobs Migration which seems like an optimal solution cannot work anymore due to the political cost of the backlash to immigration Indiaâs solution is exporting labour with an expiration date the article further statesWhile Indiaâs greatest asset is over 600 million people below the age of 25 developed countries face an acute labour shortage with ageing populations A Boston Consulting Group study estimated a global shortfall of 4550 million workers by 2030 up from just 5 million in 2023 the article points outIt also cites the examples of Germany and Japan actively seeking Indian workersThe article further highlights that the Indian government is actively pursuing agreements with host nations to maximise national benefits The IndiaUK Comprehensive Economic and Trade Agreement CETA exempts Indian workers temporarily posted in the United Kingdom from paying British social security contributions for up to three years which will bring an estimated savings of Rs 4000 crore annually for Indian firmsThe new Bill can further create convergence between different governments create mechanisms to oversee international migration agreements and develop datadriven policy management Most importantly it focusses on creating frameworks for incentivising the protection and promotion of emigrantsâ welfare it added IANS https://dailyworld.in/business/govts-new-bill-has-potential-to-get-better-deal-for-indians-working-overseas-648451.html Thu, 13 Nov 2025 21:05:00 +0530 https://dailyworld.in/business/tata-motors-limited-reports-rs-867-crore-loss-for-q2-fy26-648455.html Mumbai Nov 13 Tata Motors Limited on Thursday reported a consolidated loss of Rs 867 crore for the second quarter of the current financial year Q2 FY26 The company which now represents the commercial vehicle segment announced its first quarterly results post demerger It had posted a profit of Rs 498 crore in the corresponding quarter a year ago Q2 FY25Meanwhile the revenue from the operation of Tata Motors commercial vehicle arm for the quarter under review rose nearly 6 per cent to Rs 18585 crore yearonyear YoY from Rs 17535 crore in the same period last fiscal Q2 FY26According to the firms exchange filing the companys total expenses for the JulySeptember period jumped 15 per cent to Rs 19296 crore YoY from Rs 16777 crore in the same period of the previous financial yearThe commercial automakers increased material costs and a onetime fair value loss of Rs 2027 crore from equity investments are the main causes of the quarters overall expense increase that dragged it into lossesThe onetime fair value loss resulted in a net loss of Rs 900 crore for the quarter and a profit before tax before exceptional items of Rs 600 croreThe automaker saw a loss month over month MoM after making a profit of Rs 1397 crore during the AprilâJune periodMeanwhile the shares of Tata Motors TMCV ended Thursdays session at Rs 32025 falling 226 per cent from the previous days closing of Rs 32765Girish Wagh MD amp CEO Tata Motors Ltd said âYesterday November 12 2025 marked a historic milestone for Tata Motors Ltd as we successfully listed on both the BSE and NSE following the demerger and today Iâm pleased to share that weâve reported strong Q2 FY26 resultsOur financial results underscore a resilient performance driven by a sound and agile business strategy After a subdued start the rollout of GST 20 and the onset of the festive season catalysed a surge in demand across segments he addedWe recorded a 12 per cent yearonyear volume growth led by enhanced product availability a refined pricing strategy and intensified market activations he further said IANS https://dailyworld.in/business/tata-motors-limited-reports-rs-867-crore-loss-for-q2-fy26-648455.html Thu, 13 Nov 2025 21:11:00 +0530 https://dailyworld.in/business/lg-electronics-indias-q2-profit-falls-27-pc-to-rs-389-crore-648456.html New Delhi Nov 13 LG Electronics India on Thursday reported a 273 per cent yearonyear YoY decline in its profit after tax PAT to Rs 389 crore for the second quarter of the current fiscal Q2 FY26 The company had posted a PAT of Rs 536 crore in the same period last yearRevenue from operations jumped marginally 1 per cent to Rs 6174 crore in Q2FY26 compared to Rs 61138 crore in the corresponding quarter of the previous yearHowever the companyâs operating performance came under pressure with EBITDA falling 28 per cent YoY to Rs 547 crore while margins contracted by 350 basis points to 89 per centSegmentwise revenue from the home appliances and air solutions division slipped slightly to Rs 3948 crore whereas the home entertainment division registered an improvement to Rs 2226 crore during the quarterIndustrywide electronics and consumer goods companies in India faced softer demand through most of the quarter as buyers postponed purchases until late September when the GST rate reduction on several categories â including electronic products â came into effectManaging Director LG Electronics India Limited Hong Ju Jeon said H1 of 2026 presented some macroeconomic headwinds including a cool summer geopolitical challenges tariffs and forex fluctuations Despite this our team in India demonstrated resilient sales growth gaining market share and maintaining stable profitabilityThis performance underscores the strength of our operational execution and the deep trust consumers place in our brand This is a reflection of our strong fundamentals and reinforces our continued commitment to our India growth story he addedIt was LG Electronics Indiaâs first quarterly results since its blockbuster stock market debut on October 14 2025The companyâs shares had listed at a 50 per cent premium on the National Stock Exchange NSE at Rs 1710 per share against the IPO price of Rs 1140 and closed the day 48 per cent higher at Rs 16828The companyâs IPO which was open for subscription between October 7 and 9 this year had received an overwhelming response with a 5402 times oversubscription IANS https://dailyworld.in/business/lg-electronics-indias-q2-profit-falls-27-pc-to-rs-389-crore-648456.html Thu, 13 Nov 2025 22:14:00 +0530 https://dailyworld.in/business/cpi-inflation-drops-to-record-low-as-gst-rationalisation-takes-full-effect-economists-648265.html New Delhi Nov 12 Economists on Wednesday said the further softening of the CPI inflation for the month of October is owing to the governments prudent GST reforms which are showing a favourable impact on the economy The yearonyear inflation rate based on All India Consumer Price Index CPI for the month of October stood at 025 per cent provisionalâThe recordlow food inflation of the current CPI series at 502 per cent provisional is the major contributor to lowest headline inflation of the current CPI seriesâ said Rajeev Juneja President PHDCCITo further bolster the impact of this period of low inflation thrust should be laid on building infrastructure and logistics projects strengthening agriculture supply chains to avoid food price spikes and prioritizing technologydriven productivity gains in manufacturing and services he addedAccording to Dr Ranjeet Mehta CEO and Secretary General PHDCCI over the next two quarters âwe anticipate that Indias inflation will stay within a manageable range on the back of sufficient food supply reasonable energy prices and Reserve Bank of Indias strategic monetary managementâAccording to Rajani Sinha Chief Economist CareEdge Ratings the CPI inflation continued to stay on a downward trajectory easing to 03 per cent in October which is in line with our expectationsâThe positive impact of the GST rationalisation and deflation in the food and beverages category supported the lower inflation print Deflation in the food basket deepened further to 37 per cent in October from 14 per cent last monthâ said SinhaOverall economists expect food inflation to stay at moderate levels on the back of healthy agricultural activity and a favourable baseFurthermore adequate reservoir levels and strong kharif sowing bode well for food price stabilityâGoing forward inflation is projected to average 09 per cent in Q3 before rising to 31 per cent in Q4 FY26 With food inflation subdued we project average inflation for FY26 at 21 per centâ Sinha notedAditi Nayar Chief Economist ICRA Ltd said that the RBI MPC is likely to pare its CPI inflation projection for FY2026 further from 26 per cent as mentioned in October 2025 meeting driven by the soft sequential momentum in food prices as well as the impact of the GST rate rationalisation on several items in the CPI basketâThis along with the dovish tone of the October 2025 policy document would support a 25bps rate cut in the December 2025 policy review unless Q2 FY26 GDP growth surprises on the upsideâ Nayar mentioned IANS https://dailyworld.in/business/cpi-inflation-drops-to-record-low-as-gst-rationalisation-takes-full-effect-economists-648265.html Thu, 13 Nov 2025 00:14:00 +0530 https://dailyworld.in/business/black-box-reports-strong-performance-in-q2-fy26-revenue-grew-by-rs-198-crore-648267.html Mumbai Nov 12 Black Box Limited Essarâs technology arm and a leading provider of digital infrastructure solutions announced its unaudited financial results for the quarter and half year ended September 30 The Company delivered a resilient performance with strong quarteronquarter improvements across revenue operating profit and net profitability With its transformation program now largely stabilised and a more focused gotomarket architecture in place the Company is shifting decisively toward sustained revenue acceleration and a higherquality business mix through FY26Backed by robust order wins a growing backlog strong execution deepening client relationships and a healthy pipeline the Company is firmly on a growth trajectory and remains confident of delivering a strong second halfRevenue for Q2 FY26 stood at Rs 1585 crore from Rs 1387 crore in Q1 FY26 witnessing a growth of 14 per cent quarteronquarter and 6 per cent yearonyearThe strong revenue performance reflects a sharp rebound as tariff conditions normalized and earlier project execution delays from Q1 were cleared bringing the business back to its expected runrate heading into the second half of the yearH2 FY26 is expected to outperform H1 supported by a growing order book improving pipeline visibility and stronger execution momentum across regionsEBITDA and EBITDA Margin per centEBITDA for the quarter stood at Rs 143 crore up from Rs 116 crore in Q1 FY26 representing a growth of 23 per cent quarteronquarter and 6 per cent yearonyear EBITDA margins improved by 60 basis points on a sequential basis to 9 per cent in Q2 FY26 compared to 84 per cent in Q1 FY26The improvement was primarily driven by higher revenue throughput better fixedcost absorption and a balanced business mix With ongoing operational efficiency and cost optimization initiatives there remains further potential for incremental margin expansion as strategic priorities continue to be executed through H2Profit after Tax PATProfit after Tax PAT stood at Rs 56 crore up from Rs 47 crore a growth of 17 per cent quarteronquarter and 9 per cent yearonyear reflecting strong operating leverage and improved profitability in the core portfolioAs revenue growth accelerates in H2 FY26 PAT expansion is expected to outpace topline growth driven by margin normalization improved revenue quality and greater contribution from highvalue opportunitiesBusiness and Operations HighlightsOrder momentum remained strong with the backlog at the end of Q2 FY26 at Rs 4846 crore US555 million up from Rs 4523 crore US518 million at the close of Q1 FY26 Order bookings during the quarter were robust at Rs 1906 crore US218 million showing an increase of US42 million from Rs 1536 crore US176 million in Q1 FY26Notable orders during the quarter included significant extensions from the companyâs existing largevalue clients for networking and connectivity from the companyâs largest global financial services customer and further engagement from our hyperscaler customer reinforcing Black Boxâs position as a trusted partner in complex highvalue digital infrastructure programsThe company received orders in the digital workplace from a USbased local county and a sizeable order from a health care institution Financial Services Healthcare and Data Center continued to contribute higher revenue across the verticals servedIn addition to these expansions the company secured new client wins across the education and municipal sectors in India reflecting the growing breadth of its market reach and the success of its gotomarket strategyPartnership with Wind RiverDuring the quarter Black Box entered into a strategic global partnership with Wind River an Aptiv company and a global leader in intelligent edge software to accelerate edge and cloud innovationAs part of this alliance Black Box secured Wind Riverâs solutions to sell globally with preferred partner status in India and the Middle East In addition the company entered into a separate agreement with Wind River to manage enduser customer engagements globally across multiple geographiesThe partnership is expected to drive approximately Rs 1350 crore in revenue over the next five years approximately US30 million annually further strengthening Black Boxâs position in advanced edge cloud and AIdriven solutionsSanjeev Verma Executive Director amp Chief Executive Officer Black Box said âQ2 FY26 has been a strong quarter with revenue up 14 per cent sequentially and broadbased growth across key markets Our transformation journey is driving sustained profitable momentum backed by a strong and diversified order book We are witnessing strong traction in highgrowth areas such as data centers and overall digital infrastructure across our operating markets and are scaling strategically to capture these opportunities With solid execution deep client partnerships and a healthy pipeline we remain confident of meeting our FY26 goalsâDeepak Bansal Chief Financial Officer Black Box added We delivered a revenue growth in Q2 on the back of good order backlog with EBITDA margins at 9 per cent Our financial performance reflects the benefits of operational discipline and the impact of our continued transformation efforts We are focusing on growing business with prudent capital deployment IANS https://dailyworld.in/business/black-box-reports-strong-performance-in-q2-fy26-revenue-grew-by-rs-198-crore-648267.html Thu, 13 Nov 2025 00:16:00 +0530 https://dailyworld.in/business/air-india-express-mumbai-varanasi-flight-lands-safely-after-bomb-threat-648276.html New Delhi Nov 12 An Air India Express flight from Mumbai to Varanasi received a bomb threat on Wednesday prompting an immediate security response and activation of standard safety protocols officials said Following the development a high alert was issued at the Lal Bahadur Shastri International Airport in VaranasiOne of our flights to Varanasi received a security threat In line with protocol the airport was immediately alerted and all necessary security procedures promptly initiated an Air India Express spokesperson statedThe airline said that the flight landed safely and all passengers were deboarded without incident The flight landed safely and all guests have been disembarked The aircraft will be released for operations once all mandated security checks are completed the statement addedSources said that in a separate incident budget carrier IndiGo also received digital security alerts concerning five major airports â Delhi Mumbai Chennai Hyderabad and ThiruvananthapuramAuthorities are investigating the origin and credibility of both threats Heightened security measures have been implemented across airports as a precautionary stepEarlier last week flight operations at Delhiâs Indira Gandhi International Airport IGIA experienced major disruptions due to a technical fault in the Air Traffic Control ATC system impacting over 400 flights from various airlines including Indigo Air India and others IANS https://dailyworld.in/business/air-india-express-mumbai-varanasi-flight-lands-safely-after-bomb-threat-648276.html Thu, 13 Nov 2025 00:25:00 +0530 https://dailyworld.in/business/public-sector-banks-clock-net-profit-of-rs-93-675-crore-in-first-half-of-2025-26-648282.html New Delhi Nov 12 Public sector banks have reported a robust net profit of Rs 93675 crore in the first half AprilSeptember of FY 202526 and a marked improvement in their asset values with Gross NPAs declining to a multiyear low of 23 per cent while Net NPAs have dipped to 045 per cent The aggregate business of the governmentowned banks has increased to an impressive Rs 261 lakh crore with advances growing by 123 per cent yearonyear and deposits by 96 per cent according to a Finance Ministry statement issued on WednesdayThe Return on Assets of public sector banks was 108 per cent while the cost of funds improved to 497 per cent reflecting better efficiency and profitability during the first half of the current financial yearThe Secretary of the Department of Financial Services DFS M Nagaraju chaired a review meeting of public sector banks here with the Managing Directors and Chief Executive Officers of Public Sector Banks PSBs to assess their performance for the H1 FY 202526On the asset quality front it was noted that PSBs continued to register improvement in recoveries The National Asset Reconstruction Company Limited NARCL has acquired debt aggregating Rs 162 lakh crore and achieved significant recoveries during the first half of the year Banks were advised to leverage digital platforms such as BAANKNET for faster and transparent resolutions and to maintain focus on strengthening early warning systemsThe meeting reviewed key areas including financial performance asset quality recovery and resolution digital transformation and progress under government flagship schemes UIDAI made a presentation on the usage of Aadhaar for digital identity integration and deduplication Discussions were also held on the theme of human AI convergence in bankingThe DFS Secretary appreciated the consistent performance of PSBs and stressed the need to sustain momentum in lowcost deposit mobilisation and credit growth particularly in the MSME and agriculture sectors Banks were advised to further strengthen risk management underwriting practices and operational resilience to sustain profitability in an evolving financial environmentPublic Sector Banks also showcased advancements in digital banking and mobile app services A live demonstration highlighted improvements in user interface multilingual options and transaction efficiencyThe Secretary emphasised that digital banking must remain inclusive and secure urging banks to enhance cyber resilience ensure operational continuity and improve the quality and timeliness of grievance redressal Adoption of responsible AI and data analytics was encouraged to improve customer service delivery the statement saidThe progress under key government schemes was reviewed in detail Banks were advised to strengthen the implementation of the PM Surya Ghar Muft Bijli Yojana PM Vidya Lakshmi Yojana PM Vishwakarma Yojana and JanSamarth digital lending initiatives with emphasis on reducing application turnaround time and expanding assisted journeys through Business Correspondents and SLBC coordinationThe Secretary also reviewed performance under financial inclusion programmes such as PMJDY PMJJBY PMSBY APY PMMY and PM SVANidhi and emphasised the importance of the ongoing âAapki Poonji Aapka Adhikarâ campaign Directions were given to ensure seamless implementation enhance public awareness of the integrated unclaimed asset portal and intensify outreach in underserved and aspirational districtsIn alignment with the Governmentâs vision of Viksit Bharat 2047 PSBs presented progress under identified champion sectors such as renewable energy green infrastructure food processing tourism and data centresBanks were encouraged to scale up credit in these sectors adopt sustainable financing practices and enhance preparedness for the transition to the Expected Credit Loss ECL framework through robust models and datadriven provisioning the statement added IANS https://dailyworld.in/business/public-sector-banks-clock-net-profit-of-rs-93-675-crore-in-first-half-of-2025-26-648282.html Thu, 13 Nov 2025 00:36:00 +0530 https://dailyworld.in/business/andhra-pradesh-sets-goal-of-attracting-trillion-dollar-investment-648285.html Amaravati Nov 12 Andhra Pradesh has set an ambitious goal of attracting one trillion dollars in global and domestic investments said state minister Nara Lokesh on Wednesday Ahead of the CII Partnership Summit to be held in Visakhapatnam on November 1415 the Minister for Education and Information Technology claimed that the state has already attracted 120 billion dollars in investment during the last 16 monthsHe attributed this performance stability speed and the stateâs investorâfirst approach âThese are not symbolic MoUs They represent real onground projects that are creating employment and transforming regional economiesâ he saidHe stated that during the Partnership Summit 410 investment agreements worth 120 billion dollars will be formalised generating approximately 750000 employment opportunities Additionally groundbreaking ceremonies for projects valued at 27 lakh crore rupees will be conductedAddressing a press conference in New Delhi Lokesh outlined the stateâs robust investment climate governance reforms youthled development framework and employmentâdriven development strategyâOur goal is to create two million jobs over five years â not just as a target but as a commitment to our youth Every policy is designed to fuel job creationâCiting marquee investments he stated that they underscore growing global confidence in Andhra PradeshThe minister said Indiaâs largest steel producer chose Andhra Pradesh Google selected Visakhapatnam for its largest foreign direct investment in India â the Google Data CityHe also pointed out that Bharat Petroleum Corporation Limited BPCL is establishing a onelakhcrorerupee refinery project National Thermal Power Corporation NTPC is developing a 165 lakh crore rupee green hydrogen hubLokesh said five of Indiaâs top 10 solar manufacturing companies have selected Andhra Pradesh as their baseThe minister emphasised that Andhra Pradeshâs success is driven by a new model â the âSpeed of doing businessâ âIn todayâs economy agility is everything Even a monthâs delay can alter an entire investment plan We ensure projects move from intent to implementation at record paceâ he saidThis framework has attracted major firms reinforcing Andhra Pradeshâs appeal across IT manufacturing hospitality and tourism Andhra Pradesh one of the first Indian states to officially recognise tourism as an industry aims to add 50000 hotel rooms in the next three years IANS https://dailyworld.in/business/andhra-pradesh-sets-goal-of-attracting-trillion-dollar-investment-648285.html Thu, 13 Nov 2025 00:38:00 +0530 https://dailyworld.in/business/mp-govt-to-hold-tech-growth-conclave-20-in-indore-tomorrow-648292.html Indore Nov 12 Chief Minister Mohan Yadav will be participating in the Madhya Pradesh Tech Growth Conclave 20 to be held at Brilliant Convention Centre in Indore on Thursday The government is organising this conclave with the purpose of establishing Madhya Pradesh as a global centre for technology innovation and investmentThe event will outline the next phase of the stateâs technological and industrial progress ensuring that Madhya Pradesh can lead the Tier2 Indian tech revolution according to the state governmentDuring the conclave Chief Minister Yadav will unveil the states new policy drafted for growth in space technology aiming to establish Ujjain as Indiaâs emerging centre for space innovationThe draft policy aligns with national space reforms under INSPACe promoting private sector participation in satellite design launch services and remote sensing as the government stated on WednesdayIn the past six months Madhya Pradesh has achieved remarkable progress through innovation infrastructure and investment A significant progress has been made in establishing a Centre of Excellence CoE for drone technology the government statedChief Minister Yadav will also hold oneonone meetings with industry representatives to explore new opportunities for investment and collaboration He will also sign MoUs and hand over a letter for land allotment for establishing new industriesThis event exemplifies the integration of policy people and progress demonstrating how Madhya Pradesh is advancing toward a developed India 2047 through innovationdriven inclusive growth it added IANS https://dailyworld.in/business/mp-govt-to-hold-tech-growth-conclave-20-in-indore-tomorrow-648292.html Thu, 13 Nov 2025 00:46:00 +0530 https://dailyworld.in/business/mp-govt-to-hold-tech-growth-conclave-20-in-indore-today-648305.html Indore Nov 13 Chief Minister Mohan Yadav will be participating in the Madhya Pradesh Tech Growth Conclave 20 to be held at Brilliant Convention Centre in Indore on Thursday The government is organising this conclave with the purpose of establishing Madhya Pradesh as a global centre for technology innovation and investmentThe event will outline the next phase of the stateâs technological and industrial progress ensuring that Madhya Pradesh can lead the Tier2 Indian tech revolution according to the state governmentDuring the conclave Chief Minister Yadav will unveil the states new policy drafted for growth in space technology aiming to establish Ujjain as Indiaâs emerging centre for space innovationThe draft policy aligns with national space reforms under INSPACe promoting private sector participation in satellite design launch services and remote sensing as the government stated earlier on WednesdayIn the past six months Madhya Pradesh has achieved remarkable progress through innovation infrastructure and investment A significant progress has been made in establishing a Centre of Excellence CoE for drone technology the government statedChief Minister Yadav will also hold oneonone meetings with industry representatives to explore new opportunities for investment and collaboration He will also sign MoUs and hand over a letter for land allotment for establishing new industriesThis event exemplifies the integration of policy people and progress demonstrating how Madhya Pradesh is advancing toward a developed India 2047 through innovationdriven inclusive growth it added IANS https://dailyworld.in/business/mp-govt-to-hold-tech-growth-conclave-20-in-indore-today-648305.html Thu, 13 Nov 2025 07:02:00 +0530 https://dailyworld.in/business/us-congress-votes-to-end-longest-govt-shutdown-648307.html New York Nov 13 The US Congress has finally voted to end the government shutdown after 42 days of paralysis of most operations The House of Representatives voted 222 to 209 mostly along partisan lines to pass the resolution that had been approved by the Senate to temporarily fund the government till the end of the yearThe legislation now goes to US President Donald Trump and the White House said he will sign it later in the nightThe legislation ending the longest government shutdown was passed without the Democrats getting the extension of Obamacare the health insurance programme adopted during former President Obamaâs presidency and measures to avoid the huge increases in costs to those participating in the programme expected to start next yearThe Democrats had held up the measure in the Senate where a procedural rule requires 60 votes to bring the legislation to a voteAlthough the Republicans had a slender majority in the Senate they were short of the 60 and finally relied on eight Democratic Party defectors to hit that mark on SundayIt sailed through the Senate on Monday and the House which was in recess was hastily reconvened on Wednesday to approve itIn the House six Democrats voted with the Republican majority while two Republicans voted against itThe shutdown affected a range of government services from air travel to programmes of subsidised and free food for the poorTrump and the Democrats were locked in a battle of wills with Trump and his party refusing to give in to the Democrats on Obamacare and the Democrats refusing to budgeAlthough the standoff may have contributed to the Republican Partys reverses in elections this month which Trump acknowledged it was also affecting Democratic Party supporters who worked for the federal government and were not receiving their salaries and the poor who depended on government aidThis wore out some Democrats in the Senate who decided to end the shutdownThat has caused a rift in the party with many criticising the partyâs Senate Leader Chuck Schumer for not preventing the defectionsUnder the legislation adopted to end the shutdown and fund the government most government agencies will be funded through the end of the year and a few till January 30All government employees including those who did not work through the shutdown will receive full pay for the period of the shutdown and they will all be allowed to return to workEven if all the federal employees return to work it will take a few days for the government to fully resume all operationsBefore the vote Speaker Mike Johnson said âOn the Republican side we operated in good faith We need to get this government open as soon as possibleâDefiant to the end Democratsâ leader in the House Hakeem Jeffries said âEither Republicans finally decide to extend the Affordable Care Act Obamacare tax credits this year or the American people will throw Republicans out of their jobs next yearâ IANS https://dailyworld.in/business/us-congress-votes-to-end-longest-govt-shutdown-648307.html Thu, 13 Nov 2025 08:54:00 +0530 https://dailyworld.in/business/tns-madurai-farmers-in-distress-as-rates-of-kuruvai-crops-fall-in-open-market-648324.html Madurai Nov 13 As the kuruvai paddy harvest winds down in Tamil Nadus Madurai farmers are reeling under a steep 20 per cent fall in open market prices with a 62kg bag fetching just Rs 1400 this year compared to last yearâs Rs 1700 The drop comes despite a better yield this season leaving small and marginal farmers particularly distressedAccording to traders two key factors have triggered the slump a surge in paddy arrivals from Andhra Pradesh and Karnataka and higher moisture levels in locally harvested grain caused by untimely rainfallRice mill owners said that paddy with excess moisture has to be dried for nearly two months significantly increasing processing costs As a result the procurement price is reduced to offset the additional expenditure The availability of fine dry paddy varieties from neighbouring states is also exerting downward pressure on local rates they addedKuruvai paddy was cultivated in nearly 9000 hectares in Madurai this season similar to last year With nearly 80 per cent of the harvest completed farmers estimate that around 20 per cent of the total produce roughly 9000 tonnes is being sold directly in the open marketWhile Direct Procurement Centres DPCs offer Rs 255 per kg traders in the open market are paying only Rs 23 per kg At least onefifth of the farmers especially small cultivators prefer to sell to traders despite the loss They say traders arrive directly at the fields offer instant payment and avoid the long delays associated with DPCsMany farmers under pressure to settle debts and cover labour charges choose immediate clearance over higher returnsFarmers reported a bumper harvest this year with yields touching over 35 bags per acre compared to 30 bags last year However the price decline has neutralised the benefitAt the Mattuthavani Central Paddy Market traders confirmed that prices have fallen by Rs 25 per kg in recent days with about 4000 bags traded dailyRice millers noted that welldried paddy can still fetch up to Rs 27 per kg but much of the current seasonâs produce carries high moisture content due to intermittent rains Adding to farmersâ worries only 48 per cent of samba paddy in the delta region has been insured under the PM Fasal Bima Yojana with just three days left for enrolmentFarmers said they are unable to get the required documents as officials remain busy with the ongoing Special Intensive Revision SIR exerciseThe combined impact of falling prices moisturerelated deductions rising milling costs and insurance delays has cast a shadow over what should have been a profitable harvest season IANS https://dailyworld.in/business/tns-madurai-farmers-in-distress-as-rates-of-kuruvai-crops-fall-in-open-market-648324.html Thu, 13 Nov 2025 11:33:00 +0530 https://dailyworld.in/business/nine-in-10-indian-smbs-bet-on-ai-as-tier-2-cities-lead-adoption-report-648325.html New Delhi Nov 13 Nine in 10 Indian small and medium businesses SMBs are already investing in or planning AI adoption with 92 per cent of them expecting business growth in the next 12 months a report said on Thursday The report from career portal LinkedIn research commissioned by YouGov said that SMBs in some of the fastest growing cities in India led in AI adoption such as Chandigarh 100 per cent Jaipur 94 per cent and Ahmedabad 94 per centSMBs are not just hopeful but rebuilding around smarter systems skilled talent and trusted digital platforms the report mentionedThe survey of 1027 office holders in SMB and MSMEs across major Indian cities found 57 per cent view AI and automation as essential to stay competitive 54 per cent cite operational efficiency as key to protecting margins and 51 per cent mentioned digital transformation as critical to survivalNearly all surveyed businesses use AI to automate workflows 92 per cent and strengthen analytics 93 per cent while over 90 per cent use it to streamline hiring marketing and sales the report notedâIndian SMBs are reimagining how business is built using AI to drive efficiency skillsfirst hiring to build capability and trusted digital ecosystems to expand their market footprint said Kumaresh Pattabiraman Country Manager LinkedIn IndiaSMBs in Delhi 61 per cent and Pune 60 per cent lead AI adoption to manage costs while SMBs in Bengaluru 63 per cent focused on operational efficiency and those in Chennai 62 per cent concentrated on building a skilled talent pipelineHiring priorities across SMBs have shifted to digital literacy and AI fluency with 63 per cent of them prioritising it Problemâsolving 57 per cent and data analysis 50 per cent scored over traditional qualifications IANS https://dailyworld.in/business/nine-in-10-indian-smbs-bet-on-ai-as-tier-2-cities-lead-adoption-report-648325.html Thu, 13 Nov 2025 11:34:00 +0530 https://dailyworld.in/business/pli-scheme-for-white-goods-13-firms-commit-rs-1-914-crore-investment-in-4th-round-648329.html New Delhi Nov 13 Thirteen companies have filed applications with a net committed investment of Rs 1914 crore in the fourth round of the productionlinked incentive PLI scheme for White Goods Air Conditioners and LED Lights the government said on Thursday The application window was open from September 15 2025 to November 10 2025To date the PLI scheme for White Goods has attracted Rs 10335 crore of committed investment from 80 approved beneficiaries The Scheme is expected to generate production worth Rs 172 lakh crore and create around 60000 direct jobs across the countryIn the fourth round over 50 per cent of the new applicants are Micro Small and Medium Enterprises MSMEs reflecting the growing confidence of small and medium enterprises in joining the air conditioner and LED components manufacturing value chain according to an IT Ministry statementThe statement further said that among the 13 applicants one is an existing beneficiary under the PLI Scheme for White Goods committing an additional investment of Rs 15 croreAccording to the ministry nine applicants representing 75 per cent of the total have applied for manufacturing Air Conditioner components with a cumulative investment of Rs 1816 croreThese investments focus on manufacturing copper tubes aluminium stock compressors motors heat exchangers control assemblies and other highvalue componentsThe remaining four applicants have proposed investments worth Rs 98 crore for LED component manufacturing including LED chips drivers and heat sinksThe proposed investments cover six states across 13 districts and 23 locations contributing to regional industrial growth and employment generationApproved by the Union Cabinet chaired by Prime Minister Narendra Modi on April 7 2021 the PLI Scheme for White Goods â with a total outlay of Rs 6238 crore â aims to establish a complete component ecosystem for Air Conditioners and LED Lights in IndiaIt is projected to increase domestic value addition from the current 15â20 per cent to 75â80 per cent positioning India as a key global manufacturing hub for white goods IANS https://dailyworld.in/business/pli-scheme-for-white-goods-13-firms-commit-rs-1-914-crore-investment-in-4th-round-648329.html Thu, 13 Nov 2025 12:14:00 +0530 https://dailyworld.in/business/chennai-one-app-introduces-re-1-ticket-offer-to-boost-public-transport-usage-648341.html Chennai Nov 13 In a major step toward promoting public transport and encouraging cashless mobility commuters using the Chennai One mobile application can now buy a single ticket for just Re 1 across Metropolitan Transport Corporation MTC buses Metro Rail and suburban trains The special offer which came into effect from Thursday morning is expected to draw more people into using digital ticketing and integrated public transport servicesThe Chennai One app launched on September 22 by Chief Minister MK Stalin serves as the citys first comprehensive daily commute applicationIt allows users to plan routes track buses and trains make digital payments and even book autos and rental carsSince its introduction the app has seen remarkable adoption with 55 lakh downloads and nearly 8 lakh tickets purchased by commutersAnnouncing the new offer Chennai Unified Metropolitan Transport Authority CUMTA MemberSecretary Jeyakumar said the objective is to encourage people to experience seamless cashless travelHe noted that users of Chennai One can avail a single ticket for Re 1 for any one mode bus Metro or suburban rail This benefit can be used only once after which regular fares will be chargedThe offer is valid for those who pay through BHIM UPI or Namma UPI within the Chennai One appOfficials said the scheme is aimed at familiarising Chennai residents with digital ticketing which has already become popular among early adoptersIn just one month the app has recorded 55 lakh registered users 14 lakh journey searches and 81 lakh ticket purchasesCommuters have praised the app for its clean design and the convenience of managing buses Metro suburban trains and cab services from one place using a unified QRcode system for scheduling payment and trackingAuthorities said the Re 1 initiative aligns with the apps promise of One City One App One Ticket which has generated considerable excitement among commutersThe government hopes this will simplify daily travel and make public transport faster safer and more environmentally friendlyTo avail the offer users must open or download the Chennai One app select their destination and pay Re 1 via BHIM UPI or Namma UPI to receive their digital ticketThe offer is valid only for a single journey and cannot be combined with other promotions Once the initial discounted ride is completed subsequent rides will be charged at normal fares IANS https://dailyworld.in/business/chennai-one-app-introduces-re-1-ticket-offer-to-boost-public-transport-usage-648341.html Thu, 13 Nov 2025 13:26:00 +0530 https://dailyworld.in/business/andhra-pradesh-cm-promises-speedy-clearances-for-investments-648346.html Visakhapatnam Nov 13 Inviting global investors to invest in Andhra Pradesh Chief Minister N Chandrababu Naidu on Thursday assured them of speedy clearances and all the support from the government Participating in India Europe Business Partnership Roundtable organised here on Thursday as part of the CII Partnership Summit he said that Andhra Pradesh is a gateway for Indiaâs market with abundant investment opportunities in various sectorsâIf any one comes forward for investment the government will provide an escort officer to follow up their applications for setting up of industries in the stateâ he saidThe Chief Minister said that Visakhapatnam is going to emerge as global IT hub as Google is going to set up an AI data centre here with an investment of 15 billion and subsea cables will be laid connecting SingaporeAndhra Pradesh has been promoting industries in a big way and as part of it adopted speed of doing business and clearing applications within 45 days Citing a recent example the Chief Minister said Premier Energy got clearances within 45 days with a single phone call Likewise Reliance is setting its secondlargest brewery globally with clearances given within a month It is planning to start production from FebruaryThe Chief Minister said that the state government is going to develop a drone city for both civil applications and defence sector needs As per the call given by Prime Minister Narendra Modi to promote space technology in private sector Andhra Pradesh is planning to develop a space cityCM Naidu told the participants that Andhra Pradesh is strong in the energy sector by producing solar wind and pumped storage power generation He said Andhra Pradesh is going to emerge as a green energy hub While India set a target to produce 500 GW in green energy Andhra Pradesh decided to produce 160 GW of green energyAndhra Pradesh is strong in several sectors including AI Data centres space drones electronics aerospace and semiconductors When the Government of India recently announced quantum computing policy Andhra Pradesh decided to develop quantum valley in Amaravati He was confident that quantum computer will be produced in Andhra Pradesh in two yearsThe Chief Minister believes that India is going to emerge as the number one economy in the world Praising Prime Minister Modi the Chief Minister said India has an advantage of a stable governmentEarlier welcoming the gathering Director General Confederation of Indian Industry India Chandrajit Banerjee praised Chief Minister Naidu for his visionary outlook and commitment towards economic development of both India and Andhra Pradesh IANS https://dailyworld.in/business/andhra-pradesh-cm-promises-speedy-clearances-for-investments-648346.html Thu, 13 Nov 2025 13:49:00 +0530 https://dailyworld.in/business/need-8-million-jobs-annually-to-reap-demographic-advantage-ai-to-supplement-cea-nageswaran-648348.html New Delhi Nov 13 India must create nearly 8 million jobs annually over the next 10â15 years to capitalise on its demographic dividend which will only last until then Chief Economic Adviser CEA V Anantha Nageswaran has said At a webinar coâhosted by Indian Council for Research on International Economic Relations ICRIER and Prosus at their Centre for Internet and Digital Economy CEA Nageswaran highlighted that artificial intelligence AI should enhance rather than replace human work particularly in healthcare and educationIn these sectors frontline professionals can be supported to deliver quality services at scale especially in remote and underserved regions he saidNageswaran also pointed out that India currently has limited computing and GPU capacity available in the United States and China affecting the countryâs ability to train and develop largescale AI models domesticallyHe noted that recent reductions in AI subscription pricing by global platforms such as monthly plans now being offered at the cost of a single lowfee annual subscription â will accelerate user adoption but also increase the volume of Indian data being captured by foreign AI systemsCEA pointed out that when users increasingly upload files and documents rather than text prompts the amount of granular and sensitive data generated from India is expected to rise making data ownership and data sovereignty a central policy question going forwardThe event also featured Nobel laureate Professor Daron Acemoglu and focused on how Artificial Intelligence AI can be directed to support workforce development productivity and improved service delivery in IndiaAcemoglu argued AI tools that assist technicians nurses and educators will boost economic participation and productivity but AI that prioritises labour replacement could create economic pressures for countries with middleâskilled workforcesPramod Bhasin Chairperson ICRIER expressed happiness in renewing partnership with Prosus on building a Centre of Excellence on Indiaâs digital economySehraj Singh Managing Director Prosus India added that by combining ICRIERâs research excellence with Prosusâs experience in innovationled entrepreneurship âwe aim to create actionable insights that guide inclusive and responsible digital transformationâ IANS https://dailyworld.in/business/need-8-million-jobs-annually-to-reap-demographic-advantage-ai-to-supplement-cea-nageswaran-648348.html Thu, 13 Nov 2025 13:51:00 +0530 https://dailyworld.in/business/industry-welcomes-fresh-policy-measures-to-boost-export-ecosystem-648350.html New Delhi Nov 13 The governmentâs approval of Export Promotion Mission EPM and credit guarantee scheme is set to boost Indiaâs export competitiveness and significantly help MSMEs and firsttime exporters industry associations said on Thursday The mission will help exporters identify new markets and introduce new products It will also significantly improve ease of doing business The credit guarantee scheme would ensure affordable trade finance for MSMEs said EEPC IndiaâThe global trade policy landscape has been fast evolving necessitating swift policy actions to counter the emerging challenges The Government of India under the dynamic leadership of Prime Minister Narendra Modi has always been in action mode and come up with bold reforms often preempting potential problems The latest policy measures are forwardlooking and would pave way for Indias strong position in global tradeâ said Adhip Mitra Executive Director and Secretary EEPC IndiaIn continuation with various measures to support the countrys exports sector the government has approved Rs 25060 crore EPM and a Rs 20000 crore credit guarantee scheme The EPM has given priority to the engineering goods sector along with other sectors which have been hit hard by the disruptive global trade policy especially the high 50 per cent tariff imposed by the US on most items of Indias trade basketâAt a time when the exporting community is facing challenges on multiple fronts the latest intervention provides muchneeded support It will significantly contribute towards exportled growth of the economyâ said EEPC IndiaOn the back of measures to facilitate trade the engineering goods sector hopes to maintain positive growth in the current fiscal 202526 The high US tariff which took effect in the last week of August added to the pains of the sector but âwe are hopeful that an interim trade deal with the US would be signed soonâ it addedRajeev Juneja President of PHD Chamber of Commerce and Industry PHDCCI said that this visionary initiative with a fiveyear implementation horizon announced in the Union Budget 2025â26 ensures greater policy stability enabling businesses to make sustained investments in capacity building market expansion and export diversificationThe Missionâs twin subschemes Niryat Protsahan and Niryat Disha â create a comprehensive support framework catalysing export growth and employment creation he saidNiryat Protsahan focuses on improving financial enablers strengthening MSMEs and exporters to compete globally through interest subvention collateral guarantees and credit enhancement facilities while Niryat Disha lays thrust on nonfinancial enablers like export quality certification branding logistics support and participation in international trade fairsBy addressing key structural bottlenecks including limited trade finance high compliance costs and inadequate export infrastructure the Mission is poised to enhance Indiaâs share in global trade and increase the exportstoGDP said JunejaGoing forward PHDCCI believes that the Export Promotion Mission aligns with Indiaâs vision of achieving 2 trillion in exports by 2030 thereby contributing to Viksit Bharat at 2047 IANS https://dailyworld.in/business/industry-welcomes-fresh-policy-measures-to-boost-export-ecosystem-648350.html Thu, 13 Nov 2025 14:15:00 +0530 https://dailyworld.in/business/gross-fixed-asset-addition-remains-strongest-in-india-during-fy20-25-report-648354.html New Delhi Nov 13 Gross fixed asset GFA addition in the fiveyear block period has been strongest during the financial year 2020 to 2025 FY2025 post FY05FY10 a report stated on Thursday In particular construction material electricity generation and consumer goods led the addition Metals have been on a downward trend in the past two fiveyear periodsOn the contrary the chemical sector has been adding capacity in the past two fiveyear periods which is likely to give growth once demand recovery happens PL Capital said in its reportAccording to the report the construction materials sector has witnessed significant volatility in GFA growth over the past two decadesIn FY0510 GFA grew by 23371 per cent supported by rapid urbanisation real estate expansion and infrastructure development Meanwhile growth moderated to 9468 per cent in FY1015 due to project delays and reduced private investmentA sharp decline of 9459 per cent in FY15â20 was seen driven by high input costs regulatory challenges RERA GST demonetisationled liquidity stress and the NBFC funding crisis that dampened housing and infrastructure activityThe sector rebounded strongly in FY20â25 recording an exceptional 280232 per cent growth fueled by record government capital expenditure revival in real estate and largescale infrastructure programs such as Smart Cities Mission Bharatmala and PM Awas Yojana the report notedMeanwhile after the growth of 172 per cent in FY0510 over FY0005 and again 174 per cent in FY1015 over FY0510 on the back of a global commodity boom and strong domestic investment the metal sector has shown degrowth in GFA of 5 per cent during FY1520 and again degrowth of 36 per cent during FY2025 due to subdued global prices excess capacity and high leverageThe Machinery sector has seen a steady and sharp decline in GFA growth over the last 20 years said the report IANS https://dailyworld.in/business/gross-fixed-asset-addition-remains-strongest-in-india-during-fy20-25-report-648354.html Thu, 13 Nov 2025 14:45:00 +0530 https://dailyworld.in/business/2-to-3-players-to-dominate-indias-quick-commerce-market-in-top-40-cities-report-648381.html New Delhi Nov 13 Like the ecommerce segment where two or three players typically dominate the market in most countries this concentration pattern has been extended to food delivery and quick commerce QC sector in India as well where the top two or three firms are likely to control a major share of the market a report has said The QC ecosystem in India is likely to follow a similar trajectory with major players securing market share through aggressive growth technological advancements and operational effectivenessAccording to a Bernstein Research report QC will dominate in top cities while modern trade MT â retail supermarkets âwill flourish in the next 400 citiesQC will dominate in the Top40 cities MT to flourish in the Next400 cities and GT to lead the Last4000 cities the report notedAt the same time general trade GT kiranas and pop shops will remain the leader in the smaller cities towns and villagesWith rapidly evolving dynamics across city tiers Indias internet economy is entering a fresh phase of rapid growthThe report predicted that GT to lose ground to QC ecommerce EC and MT however MT and EC may have healthy growth going ahead as wellIn Indiaâs top urban markets quick commerce QC will dominate the retail channel fuelled by consumer demand for immediacy convenience and efficient logistics networksThe report however emphasised that MT and EC still hold an advantage in areas such as product cataloguing and cost competitivenessWhile MT retailers are focusing more on margins and deeper assortments especially in semiurban areas QC and EC platforms are making significant investments in warehouse networks and logistics optimisation to cut costsAccording to the report Indias top 40 cities which are home to about 200 million people and 1700 pin codes are the centre of the digital economy and the main centres of growth and consumption for the nations changing retail scene IANS https://dailyworld.in/business/2-to-3-players-to-dominate-indias-quick-commerce-market-in-top-40-cities-report-648381.html Thu, 13 Nov 2025 15:52:00 +0530 https://dailyworld.in/business/infra-spending-private-consumption-keep-indias-financial-institutions-resilient-648396.html New Delhi Nov 13 Global banks have a steady outlook in 2026 amid increasing political uncertainties a report said on Thursday adding that structural improvements and good economic prospects keep Indias financial institutions resilient Indias infrastructure spending and private consumption will support robust economic growth We see good prospects for the economy over the next couple of years Indias low US trade exposure reduces tariff risks according to the report from SampP Global RatingsBanks are operating in volatile times when significant policy decisions and regional conflicts could disrupt financial markets and rapidly change the economic environment said SampP Global Ratings credit analyst Emmanuel Volland regarding the global banking landscapeRegarding the Indian financial landscape the firm said that even though stress pockets have emerged in unsecured personal loans and microfinance loans the underwriting standards for secured retail loans are healthy and delinquencies in this segment remain manageableIt forecasted global banksâ credit losses to increase to 655 billion in 2026 up 75 per cent onyear before the rise in losses slowing in 2027The bulk of the incremental loss is expected in AsiaâPacific driven by tariffrelated uncertainties on lending to Chinaâs micro and small enterprises and its unsecured consumer credit segmentâWe see these losses as manageable for banks thanks to generally solid profitability and strengthened prudential rules implemented over the past yearsâ the report saidSampP Global Ratings identified four downside risks to global bank ratings such as escalation of geopolitical risks strongerâthanâanticipated spillovers from tariff shocks weakening regulatory environments and evolving risks linked to digitalisation Gen AI and climate changeWe expect credit divergence to increase eventually Volland said adding that solid bank financial metrics including asset quality profitability and favourable market conditions remain consistent tailwinds IANS https://dailyworld.in/business/infra-spending-private-consumption-keep-indias-financial-institutions-resilient-648396.html Thu, 13 Nov 2025 16:33:00 +0530 https://dailyworld.in/business/85-pc-of-indian-businesses-see-saudi-arabia-as-attractive-investment-destination-report-648401.html Mumbai Nov 13 Eightyfive per cent of Indian businesses â the highest among surveyed markets â see Saudi Arabia as a more attractive destination for trade and investment amidst global uncertainties a report showed on Thursday Moreover 78 per cent of Indian businesses are planning to increase investments in Saudi Arabia in the next six months â representing the highest level of commitment among any market outside the Middle East according to an HSBC reportIndian business leaders are showing a strong intent to increasing trade and investment with Saudi Arabia This aligns with the Kingdomâs Vision 2030 plan which aims to build a resilient stable economy with attractive growth opportunitiesâOur research indicates increased confidence from international businesses in Saudi Arabiaâs economic transformation and highlights the Kingdomâs unique ability to combine heightened growth prospects with economic stabilityâ said Selim Kervanci Chief Executive Officer Middle East North Africa and Türkiye MENAT HSBC Bank Middle EastThe report surveyed 4000 business decision makers with international operations each generating annual revenues of 50 million to 500 million uncovering insights into the evolving trade and investment links between Saudi Arabia and eight major global marketsBilateral trade ties between India and Saudi Arabia have steadily grown over the years India is the second largest trade partner of Saudi Arabia while Saudi Arabia is the fifth largest trading partner of India In FY 202425 bilateral trade stood at 4188 billion with Indian exports at 1176 billion and imports at 3012 billionSurvey respondents from India highlight Saudi Arabiaâs growing economy 60 per cent economic stability 56 per cent and businessfriendly policies 51 per cent as top reasons to do business in the KingdomThe strategic alignment between Saudi Arabiaâs Vision 2030 and Indiaâs Viksit Bharat agenda opens up synergistic opportunities for trade and investment fostering sustainable growth and shared prosperity said Ajay Sharma Head of Banking HSBC IndiaIndian IT and tech firms are contributing to Saudi Arabiaâs digital transformation while interest is also growing in areas like healthcare logistics mining and startups Indian businesses already investing in the Kingdom rank foreign ownership restrictions 35 per cent and market competition 35 per cent as equal top barriers to increasing their investments IANS https://dailyworld.in/business/85-pc-of-indian-businesses-see-saudi-arabia-as-attractive-investment-destination-report-648401.html Thu, 13 Nov 2025 17:12:00 +0530 https://dailyworld.in/business/india-to-stay-fastest-growing-major-economy-despite-us-tariff-hikes-moodys-648402.html New Delhi Nov 13 India is expected to remain the fastestgrowing economy among the G20 nations with a growth rate of 65 per cent through 2027 despite the Donald Trump administrationâs tariff hikes according to Moodyâs latest Global Macro Outlook report for 202627 The report states that the pace of Indiaâs growth will be supported by robust infrastructure investment strong domestic consumer demand and export diversificationâIndian exporters facing 50 per cent US tariffs on some products have succeeded in redirecting exports with overall exports climbed 675 per cent in September even as shipments to the US dropped 119 per centâ the report points outThe report praises the RBIâs monetary policy for keeping the country on a stable growth path In India the RBI held its repo rate steady in October showing that it is cautious on policy with inflation subdued and growth strong the report statesThe strong international capital inflows driven by positive investor sentiment have helped cushion external shocks and maintain liquidity the report further statesHowever it also observes that while domestic demand remains the primary growth engine the private sector is yet to fully regain confidence for largescale business investmentsGlobal growth will likely remain steady but subdued with advanced economies growing modestly and emerging markets mostly maintaining stronger momentum the report states It projects global growth at around 25 to 26 per cent in 2026 and 2027 reflecting steady but uneven expansion across regionsAdvanced economies are expected to grow about 15 per cent while emerging markets are likely to post a 4 per cent growthThe United States is clocking slower but stable momentum supported by modest consumer spending and AIrelated investment and adoption the report statesThe fiscal stimulus a more accommodative monetary policy and regulatory easing could extend the US credit cycle into 2026 offsetting tariff and immigration pressures â though risks could rise as the cycle matures the report addedIn the case of Europe the report observes a modest improvement driven by employment gains wage stability and monetary policy easing by the European Central Bank Investments in infrastructure and green technology particularly Germanyâs investment in defence and public projects are expected to spur regional growthChinaâs growth rate is expected to slow down from 5 per cent in 2025 to 42 per cent by 2027 IANS https://dailyworld.in/business/india-to-stay-fastest-growing-major-economy-despite-us-tariff-hikes-moodys-648402.html Thu, 13 Nov 2025 17:14:00 +0530 https://dailyworld.in/business/indian-equity-indices-close-flat-amid-profit-booking-ahead-of-bihar-poll-results-648404.html Mumbai Nov 13 The key domestic equity indices closed flat on Thursday erasing early gains amid profit booking in IT and auto heavyweights ahead of Bihar election results Sensex ended the session at 8447867 up 1216 points or 001 per cent Continuing the previous days rally the 30share index started trading higher at 8452589 against last sessions closing of 8446651 However the index traded volatile during the session and closed flat amid profit booking post the last three days rallyNifty closed 2587915 up 335 points or 001 per centNational equities closed flat after a positive session as profitbooking erased early gains despite optimistic global and domestic cues Sentiment was buoyed by Trump signing a shortterm funding bill to end the US government shutdown and hopes of tariff relief for India said Vinod Nair Head of Research Geojit Investments LimitedThe recordlow October inflation prints reinforced expectations of an RBI rate cut making ratesensitive sectors like metals and realty attractive to investors he addedICICI Bank PowerGrid LampT Bharti Airtel Sun Pharma and Maruti Suzuki were among the top gainers from the Sensex stocks Eternal Tata Motors CV Mahindra and Mahindra Tata Steel BEL Tata Motors PV Trent TCS Infosys Hindustan Unilever and Bajaj FinServ ended the session lowerSectoral indices remained volatile as investors showed a mixed approach throughout the session Nifty Fin Services rose 58 points or 022 per cent and Nifty Bank increased 107 points or 018 per cent While Nifty Auto dipped 102 points or 037 per cent Nifty IT fell 175 points or 048 per cent and Nifty FMCG closed 285 points or 051 per cent lowerBroader indices experienced pressure amid selling in smallcap and midcap stocks Nifty Small Cap 100 decreased 66 points or 037 per cent Nifty Midcap 100 fell 210 points or 035 per cent while Nifty 100 ended flatRupee traded flat in a narrow range near 8867 as market participants remained cautious ahead of the Bihar election outcome due Friday morning leading to a muted trading sessionTraders awaited the release of US CPI data which is expected to influence dollar index movements and consequently rupee trends With limited triggers in the interim the rupee is likely to stay rangebound with the trading range expected between 8840â8895 said Jateen Trivedi of LKP Securities IANS https://dailyworld.in/business/indian-equity-indices-close-flat-amid-profit-booking-ahead-of-bihar-poll-results-648404.html Thu, 13 Nov 2025 17:15:00 +0530 https://dailyworld.in/business/india-nepal-ink-pact-to-expand-trade-via-rail-route-648410.html New Delhi Nov 13 India and Nepal signed an agreement on Thursday to strengthen the movement of railbased freight between the two neighbouring countries The pact will facilitate railway freight movement between Jogbani India and Biratnagar Nepal including bulk cargo under an expanded definition This liberalisation extends to key transit corridors KolkataJogbani KolkataâNautanwa Sunauli and VisakhapatnamâNautanwa Sunauli thereby strengthening multimodal trade connectivity between the two countries and Nepalâs trade with third countriesBoth countries exchanged a Letter of Exchange amending the Protocol to the Treaty of Transit between India and Nepal in the presence of Indiaâs Commerce Minister Piyush Goyal and his Nepal counterpart Anil Kumar SinhaThe Letter of Exchange enables direct rail connectivity along the JogbaniâBiratnagar rail link for both containerised and bulk cargo facilitating transport from the ports of Kolkata and Visakhapatnam to the Nepal Customs Yard cargo station located in Morang District near Biratnagar in Nepal This rail link constructed with grant assistance from the Government of India was jointly inaugurated by the Prime Ministers of India and Nepal on 1 June 2023The meeting also welcomed ongoing bilateral initiatives to enhance crossborder connectivity and trade facilitation including the development of Integrated Check Posts and other infrastructureIndia remains Nepalâs largest trade and investment partner accounting for a significant share of its external trade These new measures are expected to further consolidate economic and commercial linkages between the two countries and beyondThe agreement comes close on the heels of IndiaNepal agreements signed on Oct 29 to incorporate two joint venture entities for the development of highcapacity crossborder power transmission lines between the two countriesThe joint venture and shareholdersâ agreements were signed here between Powergrid a Maharatna Central public sector enterprise of India and the Nepal Electricity Authority in the presence of Union Power Minister Manohar Lal and Nepalâs Energy Water Resources and Irrigation of Nepal Kulman GhisingThe agreements provide for the incorporation of two joint venture entities one in India and one in Nepal for setting up crossborder power transmission infrastructure IANS https://dailyworld.in/business/india-nepal-ink-pact-to-expand-trade-via-rail-route-648410.html Thu, 13 Nov 2025 18:01:00 +0530 https://dailyworld.in/business/chinese-pvc-imports-raise-cancer-risk-for-indians-648412.html New Delhi Nov 13 Extensive dumping of poorâquality PVC resin with high levels of carcinogen compounds by China poses a significant publicâhealth risk in India and timely enforcement of the proposed Quality Control Order QCO is necessary a report said on Thursday The report by Centre for Domestic Economy Policy Research CDEPin launched here said that PVC currently contributes to nearly 30 per cent of use cases in Indiaâs economy with widespread use across water sanitation irrigation healthcare construction and infrastructurePVCs from China contain Residual Vinyl Chloride Monomer a Category 1A carcinogen at concentrations up to five times higher than globally accepted safety limits the report notedThe United States the European Union and Thailand regulate Residual Vinyl Chloride Monomer RVCM levels in PVC resin within a stringent range of 05 ppm to 3 ppm ensuring safety in water and foodcontact applicationsIndia however does not yet have a binding national limit on RVCM which has allowed imports of PVC resin from China with concentrations reported between 5 ppm and 10 ppmThis difference in quality benchmarking should be removed by the timely implementation of the PVC QCO to ensure Indian standards are at par with global safety benchmarks the report arguedThe Department of Chemicals and Petrochemicals had notified a Quality Control Order QCO on PVC resin in August 2024 but deferred enforcement three times with enforcement now scheduled for December 2025âThe government has been championing the Zero Defect Zero Effect by adopting the Quality Control Order QCO Such a policy step by the government is strengthening consumer safety and industrial standards while promoting exports from India that are dependable and of high qualityâ said Dr Jaijit Bhattacharya President of CDEPinAt the launch event Anil Sharma from the Swadeshi Jagran Manch said that QCOs must encompass the entire value chain ensuring quality and accountability at every stage of production IANS https://dailyworld.in/business/chinese-pvc-imports-raise-cancer-risk-for-indians-648412.html Thu, 13 Nov 2025 18:04:00 +0530 https://dailyworld.in/business/investor-accounts-on-nse-surpass-24-crore-648415.html Mumbai Nov 13 The National Stock Exchange NSE said on Thursday that the number of unique trading accounts surpassed 24 crore this month just under one year after it surpassed 20 crore mark in October last year The number of unique registered investors stood at 122 crore as of October 31 2025 having surpassed the milestone of 12 crore unique registered investors on September 22 2025As of September 30 2025 individual investors both direct participants and via mutual funds now hold 1875 per cent of NSE listed companies marking a 22 year highMaharashtra accounted for the largest share of 17 per cent of investor accounts with over 4 crore accounts followed by Uttar Pradesh at 11 per cent Gujarat at 9 per cent West Bengal and Rajasthan at 6 per centNotably the top five states held 49 per cent share of all investor accounts while the top 10 states comprise over 73 per cent the exchange saidSeveral investor protection measures have strengthened confidence in the markets alongside rampant digitalisation sustained innovation growing middle class and progressive policy measures from the government the statement saidMeasures such as standardising mobilebased trading solutions streamlining the Know Your Customer KYC process and bolstering investor awareness campaigns have increased investor participation according to Sriram Krishnan Chief Business Development Officer NSEThe stock exchange conducted 11875 Investor Awareness Programs IAPs in the first half of FY26 alone reaching nearly 62 lakh participants as compared to 14679 in the whole of FY25Meanwhile NSEâs Investor Protection Fund IPF grew 19 per cent YoY to Rs 2719 crore as of October 31 2025Over the past five years the Nifty 50 and Nifty 500 indices have generated strong annualised returns of 15 per cent and 18 per cent respectively IANS https://dailyworld.in/business/investor-accounts-on-nse-surpass-24-crore-648415.html Thu, 13 Nov 2025 18:07:00 +0530 https://dailyworld.in/business/mp-disbursal-of-rs-233-crore-under-bhavantar-scheme-makes-farmers-swell-with-joy-648429.html Dewas Nov 13 Madhya Pradesh Chief Minister Mohan Yadav on Thursday transferred Rs 233 crore directly into the bank accounts of 133 lakh farmers in the state under the âBhavantar Bhugtan Yojanaâ ensuring that the minimum support price MSP for their soyabean produce remains free of price variance in the markets As the funds reached the accounts of farmers in Burhanpur district this brought a wave of happiness and bright smiles on their facesHundreds of farmers expressed their gratitude to the Chief Minister Mohan Yadav for insulating their produce against market fluctuations and providing them with a fair price for their hard work as well as cropsThey said that this amount will serve as a source of relief and encouragement for themA farmer thanking CM Mohan Yadav said Under the Bhavantar Scheme I had sold 11 quintals and 55 kilograms of produce and today I am about to receive around Rs 15000 as Bhavantar paymentDistrict Magistrate Kishore Kumar Kanyal told IANS Today under the Bhavantar scheme the payments were approved by the Chief Minister In front of the Chief Minister farmers from across the state were assisted under the Bhavantar scheme For our district 1621 farmers received approximately Rs 252 crore in payments All the farmers were very happy and gratefulThe scheme compensates for the gap between the MSP of Rs 5328 per quintal and the prevailing mandi rate currently around Rs 4036 per quintal Farmers selling through registered mandis receive the difference approximately Rs 1300 per quintal via Direct Benefit Transfer DBTThe system uses satellite imagery and mobile apps for crop mapping enabling precise targeting of beneficiaries across the MalwaNimar black cotton soil beltNotably the state has procured 270 lakh tonnes of soybean from over 160 lakh farmers so far As many as 936353 farmers have enrolled themselves under the scheme IANS https://dailyworld.in/business/mp-disbursal-of-rs-233-crore-under-bhavantar-scheme-makes-farmers-swell-with-joy-648429.html Thu, 13 Nov 2025 18:59:00 +0530 https://dailyworld.in/business/jampk-pos-machines-and-micro-atms-handed-over-to-agri-entrepreneurs-in-rajouri-under-hadp-scheme-648433.html Rajouri Nov 13 In a major boost to agricultural digital and technical empowerment of the farming community the Central Sponsored Scheme CSS benefits have started reaching the farmers in Rajouri the border district of Jammu and Kashmir Deputy Commissioner Abhishek Sharma IAS in collaboration with the Agriculture Department distributed several POS machines and Micro ATMs to Krishi Udhyamis KUs of Kisan Khidmat Ghars KKGs in Rajouri on Thursday The welfare benefits were transferred under the Holistic Agriculture Development Program HADP a Central scheme focused on the holistic growth of valley residentsThis initiative under the Central Sponsored Scheme CSS aims to digitally empower Krishi Udhyamis enabling them to access a range of services such as digital payments financial transactions and egovernance facilities to the farming communityEquipped with CSC IDs the Krishi Udhyamis KUs will facilitate the availability of essential agricultural inputs including seeds fertilisers and pesticides while also ensuring farmers get timely access to PM Kisan and other central government schemes through digital portalsSpeaking on the occasion the Deputy Commissioner Abhishek Sharma highlighted that the HADP scheme is designed to promote sustainable agriculture improve farmersâ income and ensure that border area farmers benefit equally from digital and financial inclusionHe said the Rajouri administration remains committed to using technologydriven initiatives to strengthen the agriculture sector create new opportunities for rural entrepreneurs and ensure lastmile delivery of government benefits to every farmer in the districtNotably the HADP was launched with an estimated budget of Rs 50000 crore by Prime Minister Narendra Modi last year for boosting the agrieconomy in the Union Territory It is an integrated program encompassing the full spectrum of activities in the three major domains of agrieconomy viz Horticulture Agriculture and Livestock husbandry It is expected to equip about 25 lakh farmers with skill development via the dedicated Daksh Kisan portalUnder the program about 2000 Kisan Khidmat Ghars are to be set up with an aim to build robust value chains for the welfare of the farming community The program will lead to employment generation benefiting lakhs of marginal families in Jammu and Kashmir IANS https://dailyworld.in/business/jampk-pos-machines-and-micro-atms-handed-over-to-agri-entrepreneurs-in-rajouri-under-hadp-scheme-648433.html Thu, 13 Nov 2025 19:03:00 +0530 https://dailyworld.in/business/16-out-of-the-25-fortune-worlds-best-workplaces-2025-now-operate-in-india-648441.html Mumbai Nov 13 In a significant feat 16 out of the 25 âFortune Worldâs Best Workplaces 2025â now operate in India thus further strengthening the countrys global footprint a report showed on Thursday Great Place To Work the global authority on workplace culture and Fortune Media identified 25 winners on this yearâs list by surveying more than 9 million employeesâOut of the 25 recognised organizations 16 have a strong presence in India showcasing Indiaâs pivotal role in shaping the global workplace culture I wish my heartfelt congratulations to all the winners of the Fortune Worldâs Best Workplaces list who are leading by example and inspiring many others along the wayâ said Balbir Singh CEO Great Place To Work IndiaThis year companies earned a higher rank for their ability to outperform their peers both in their local markets and globally on measures of employee trust pride and camaraderie Rankings were based on over 9 million employee surveys conducted in 2024 and 2025 representing the experiences of more than 25 million employees worldwideThe winners of the Fortune Worldâs Best Workplaces list demonstrate how great culture transcends borders When organisations lead with trust and fairness they create workplaces where people and performance thrive universallyâThe powerful impact of these great companies on our planet is a sacred trustâ said Michael C Bush CEO of Great Place To WorkâOf the more than 9 million employees surveyed more workers at these remarkable companies say their company trusts them and wants them to grow as people and professionals These economic powerhouses also strengthen the communities where they operate and are leaving behind a better world than the one they inheritedâ said BushThe Worldâs Best Workplaces list casts an important spotlight on what employees believe are todayâs exceptional workplaces companies and organization where they feel trusted empowered and energized to do their best work added Alyson Shontell editorinchief of Fortune IANS https://dailyworld.in/business/16-out-of-the-25-fortune-worlds-best-workplaces-2025-now-operate-in-india-648441.html Thu, 13 Nov 2025 19:59:00 +0530 https://dailyworld.in/business/mp-soybean-farmers-in-neemuch-rejoice-over-govt-aid-under-bhavantar-yojana-648443.html Neemuch Nov 13 As the Chief Minister Mohan Yadav disbursed Rs 233 crores directly into bank accounts of about 133 lakh soyabean growers in the state under Bhavantar Bhugtan Yojana this left the farming community elated and overjoyed â from Dewas to Neemuch and more The event organised in Dewas reflected the Mohan Yadav governmentâs resolve to fulfil its promise of state support to soybean farmers for cushioning the impact of substandard market prices and its impact was palpable on the faces of farmersOut of the entire allocation Rs 125 crore was transferred into accounts of 1012 farmers in Neemuch district under Bhavantar YojanaThe cash transfer program in Dewas was witnessed by Neemuch MLA Dilip Singh Parihar District Panchayat Chairman Sajjan Singh Chauhan ADM Kalesh SDM and Mandi Administrator InCharge Sanjeev Sahu and InCharge Mandi Secretary Sameer Das along with numerous public representatives traders and farmers were presentAll the public representatives praised the governmentâs efforts in supporting the soybean farmers which they said will go a long way in emboldening the stateâs âsoya bowlâ statusNeemuch MLA Dilip Singh Parihar said that farmers fields were flooded particularly in Malwa and Neemuch districts due to excessive rainfall making them nervousâWe commend the Chief Ministerâs attempt to mitigate farmers losses through Bhavantar Yojana I thank CM Mohan Yadav and Prime Minister Narendra Modi for thisâ he saidNeemuch SDM and Agricultural Produce Market Administrator Sanjeev Sahu told newsmen âSoybean procurement has been ongoing since October 24th The model price announced for 15 days was approximately 4000 rupees and the MSP rate was 5328 rupees Thus the difference of approximately Rs 1300 has been credited to the accounts of farmers This amount has been credited to the accounts of approximately 1000 farmers in Neemuch districtâ he informedBhavani Shankar Patidar a beneficiary farmer of the Bhavantar Yojana said âThe difference in price for 11 quintals and 55 kilograms of soyabean be weighed under the Bhavantar Yojana was deposited in my account amounting to Rs 15000 I thank the Chief Minister for this Without this scheme we would have suffered severelyâ IANS https://dailyworld.in/business/mp-soybean-farmers-in-neemuch-rejoice-over-govt-aid-under-bhavantar-yojana-648443.html Thu, 13 Nov 2025 20:02:00 +0530 https://dailyworld.in/business/adani-ports-becomes-indias-first-integrated-transport-utility-to-embrace-tnfd-framework-648195.html Ahmedabad Nov 12 Adani Ports and Special Economic Zone Limited APSEZ on Wednesday said it has become Indiaâs first Integrated Transport Utility to embrace the Taskforce on Naturerelated Financial Disclosures TNFD framework setting a new benchmark for naturepositive infrastructure development With this APSEZ joins a select league of global port operators championing biodiversity reinforcing its commitment to safeguarding marine ecosystems through sciencebased transparent environmental disclosuresAs a TNFD adopter the company said it is committed to implementing TNFDaligned reporting on naturerelated dependencies impacts risks and opportunitiesThe TNFD is a global sciencebased initiative founded by a coalition including the United Nations Environment Programme Finance Initiative UNEP FI the United Nations Development Programme UNDP the World Wildlife Fund WWF and Global Canopy to guide companies in identifying assessing managing and disclosing naturerelated risks and opportunitiesâWe firmly believe responsible business practices drive longterm success Our adoption of the TNFD framework demonstrates support for naturerelated corporate reporting at COP30 We see naturerelated issues as a strategic risk management priority The TNFD framework provides robust support for integrating nature into our decisionmaking processes and enhancing our contribution to biodiversity conservationâ said Ashwani Gupta WholeTime Director and CEO of APSEZThis step further strengthens APSEZâs dedication to naturepositive business practices and positions it as a leader in sustainable maritime logisticsAs part of this commitment Adani Ports will further enhance disclosure standards to ensure alignment with the TNFD recommendations in its corporate reporting starting FY26The company has already institutionalised climate risk assessment and disclosure practices that align with globally recognised frameworks and continues to set standards in environmental stewardship having afforested over 4200 hectares of mangroves and actively conserving an additional 3000 hectares making it the largest private sector contributor to mangrove ecosystem restoration in IndiaThe new initiative is a key component of APSEZâs broader ESG strategy and reflects a proactive approach in assessing and addressing naturerelated dependencies impacts risks and opportunitiesThe company operates a comprehensive ecosystem of 15 strategically located ports and terminals across Indias west south and east coasts combined with a diversified marine fleet of 127 vessels IANS https://dailyworld.in/business/adani-ports-becomes-indias-first-integrated-transport-utility-to-embrace-tnfd-framework-648195.html Wed, 12 Nov 2025 12:57:00 +0530 https://dailyworld.in/business/indo-canadian-minister-visiting-delhi-to-advance-trade-links-with-india-648196.html New Delhi Nov 12 Canadian Minister of International Trade Maninder Sidhu will be travelling to New Delhi from Wednesday to find opportunities to advance trade and investment linkages between Canada and India He will visit Visakhapatnam on November 14 to attend the Confederation of Indian Industry Partnership Summit said the Office of the Minister of International TradeDuring his visit Minister Sidhu will promote Canadas commitment to supporting and growing the wellestablished commercial ties shared by Canada and India including artificial intelligence clean technology and digital industries and explore new opportunities for partnerships that benefit workers and businesses in both countriesThis visit to India will reinforce Canadas commitment to diversifying our trade relationships and attracting new investment an official statement quoting Sidhu saidAs one of the fastestgrowing major economies India offers significant opportunities for Canadian businesses and workers Our commercial ties continue to expand bilateral trade surpassed 30 billion in 2024 and there is even greater potential aheadBy deepening cooperation in areas such as energy clean technology artificial intelligence and agriculture we can unlock new commercial opportunities drive innovation and build more resilient and secure supply chains that deliver shared prosperity for both our countriesThe IndoCanadian with roots in Punjab was previously a parliamentary secretary to International Development Minister Karina GouldSidhu of the Liberal party has been reelected to a third term in Brampton East in the April 28 federal electionIndia is a key partner as Canada strengthens its economic links in the IndoPacific region under a comprehensive strategy for the regionIn 2024 India was Canadas seventhlargest goods and services trading partner with twoway trade valued at 309 billionCanadas commercial priorities in India are targeted at the countrys policy objectives and sectors where Canada has a comparative advantage including agriculture clean technology digital industries and infrastructureIndia is expected to become the worlds thirdlargest economy in the coming yearsCanada is committed to supporting and growing its wellestablished commercial ties with India including in the agriculture critical minerals and energy sectors IANS https://dailyworld.in/business/indo-canadian-minister-visiting-delhi-to-advance-trade-links-with-india-648196.html Wed, 12 Nov 2025 12:58:00 +0530 https://dailyworld.in/business/indias-dc-stock-surpasses-15-gw-260-mw-added-during-9m-2025-report-648199.html New Delhi Nov 12 Indias data centre DC capacity crossed 15 gigawatt GW for the first time during the first nine months this year 9M 2025 a report said on Wednesday A supply of 260 MW has been added between January and September this yearThe growth is mainly driven by rapid digitalisation favourable government regulations and increasing corporate investments in Artificial Intelligence AI CBRE South Asia a real estate consulting firm stated in its reportAccording to the report Mumbai leads the countryâs total DC capacity with a 53 per cent share of the total around 1530 MW at the end of September this yearThis is mainly due to its proximity to global internet exchange points and a key entry location for worldwide submarine cablesThe report added that Chennai DelhiNCR and Bengaluru follow Mumbai with shares of 20 per cent 10 per cent and 7 per cent respectively The four cities cumulatively account for nearly 90 per cent of the countryâs total DC capacityIndiaâs Data Centre capacity has seen significant growth in the last four to five years mirroring the countrys rapid digital transformation said Anshuman Magazine Chairman amp CEO India SouthEast Asia Middle East amp Africa CBREâRapid digitalisation due to rising Internet penetration cloud adoption and the emergence of AI and Internet of Things IoT has taken the need for strong data infrastructure to new heights he addedThis is being supported by government policies and data localisation norms positioning India as a key hub for global as well as domestic investors the Magazine said furtherAs per the report India offers one of the most costcompetitive DC environments globally supported by relatively lower construction and electricity costs as compared to markets such as Singapore China and JapanThe nation also has a large pool of digital and AI talent accounting for nearly 16 per cent of the global AI workforce with over 600000 professionals This is expected to double by 2027The CBRE report highlighted that India has attracted nearly 94 billion in DC investment commitments since 2019 with Telangana Maharashtra and Tamil Nadu emerging as the top three destinationsThe countryâs DC sector witnessed investment commitments worth around 30 billion during the JanuarySeptember 2025 period IANS https://dailyworld.in/business/indias-dc-stock-surpasses-15-gw-260-mw-added-during-9m-2025-report-648199.html Wed, 12 Nov 2025 13:15:00 +0530 https://dailyworld.in/business/indian-rupee-expected-to-trade-in-88589-per-dollar-range-till-nov-end-report-648208.html Mumbai Nov 12 The movement in the dollar and progress in the USâIndia trade negotiations will determine the Indian rupeeâs direction in November a report said on Wednesday adding that rupee will trade in the range of 885â89 per dollar till month end The outlook however hinges on the US dollars trajectory and US macro data on inflation and the labour market which will influence the Federal Reserveâs rate decision in December the report from Bank of Baroda BoB saidAny positive development on the USIndia trade deal is likely to lift investor sentiments the bank said adding that concerns about higher US tariffsâ impact on the domestic economy are weighing on foreign portfolio investor FPI flowsRupee remained steady in the last month even though it continued to trade near a record low amid a stronger dollar sluggish inflows and strong demand from importersThe Reserve Bank of India RBI intervention was prevalent in the forex market to prevent the currency sliding to new lows marking a notable shift from recent monthsâ freer currency movement the bank said forecasting that trend to persist in the coming daysGlobal currencies showed varied performance against the dollar in the last month with emerging market currencies generally strengthening when advanced economy currencies weakened the report saidThe dollar strengthened due to a growing consensus amongst market participants that the Fed is unlikely to cut rates again this year The US Federal Reserve may take a cautious approach to further rate cuts due to a dearth of key economic data due to a prolonged US government shutdown the bank notedThe rupee traded in the range between 8783 per dollar and 8870 per dollar over the last month with average annualised volatility falling from over 4 per cent in October to 12 per cent in November the report noted IANS https://dailyworld.in/business/indian-rupee-expected-to-trade-in-88589-per-dollar-range-till-nov-end-report-648208.html Wed, 12 Nov 2025 14:16:00 +0530 https://dailyworld.in/business/as-risks-multiply-for-energy-need-for-diversification-and-global-cooperation-more-urgent-iea-648219.html New Delhi Nov 12 Countries around the world are contending with pressing energy security threats and growing longerterm risks across an unprecedented range of fuels and technologies thrusting energy into the heart of geopolitical tensions and elevating it as a core issue of economic and national security In this context the latest edition of the IEAâs World Energy Outlook WEO underscores the need for governments to pursue greater diversification of supplies and increased cooperation with one another to help navigate the uncertainties and turbulence aheadThe 2025 edition of the WEO the most authoritative global source of energy analysis and projections covers a broad range of trajectories highlighting different opportunities and vulnerabilities but also commonalitiesIt does this through three main scenarios none of which are forecasts Each maps out a distinct energy future enabling an analysis of the implications of different policy investment and technology choices for energy security affordability and emissionsAmong the many trends common to all the scenarios in this yearâs WEO is the worldâs growing need for energy services over the coming decades with demand rising for mobility heating cooling lighting and other household and industrial uses and increasingly for data and AIrelated servicesIn particular a group of emerging economies led by India and Southeast Asia and joined by countries in the Middle East Africa and Latin America comes to increasingly shape energy market dynamics in the years aheadCollectively they take up the baton from China which accounted for half of global oil and gas demand growth and 60 per cent of electricity demand growth since 2010 although no country or group of countries comes close to replicating Chinaâs energyintensive riseAmid these shifts traditional energy risks affecting the security of oil and gas supply are now accompanied by vulnerabilities in other areas most visibly in supply chains for critical minerals due to high levels of market concentrationA single country is the dominant refiner for 19 out of 20 energyrelated strategic minerals with an average market share of around 70 per cent The minerals in question are vital for power grids batteries and EVs but they also play a crucial role in AI chips jet engines defence systems and other strategic industriesGeographic concentration in refining has increased for nearly all key energy minerals since 2020 and particularly for nickel and cobaltAnalysis in this yearâs WEO of the pipeline of announced projects suggests that reversing this process is set to be slow calling for stronger action by governmentsâWhen we look at the history of the energy world in recent decades there is no other time when energy security tensions have applied to so many fuels and technologies at once a situation that calls for the same spirit and focus that governments showed when they created the IEA after the 1973 oil shockâ said IEA Executive Director Fatih BirolâWith energy security front and centre for many governments their responses need to consider the synergies and tradeoffs that can arise with other policy goals on affordability access competitiveness and climate change The WEOs scenarios illustrate the key decision points that lie ahead and together provide a framework for evidencebased datadriven discussion over the way forwardâElectricity is at the heart of modern economies and electricity demand grows much faster than overall energy use in all scenarios in WEO2025Investors are reacting to this trend Spending on electricity supply and enduse electrification already accounts for half of todayâs global energy investmentFor the moment electricity accounts for only about 20 per cent of final energy consumption globally but it is the key source of energy for sectors accounting for over 40 per cent of the global economy and the main source of energy for most householdsâAnalysis in the World Energy Outlook has been highlighting for many years the growing role of electricity in economies around the world Last year we said the world was moving quickly into the Age of Electricity and itâs clear today that it has already arrivedâ Birol saidâIn a break from the trend of the past decade the increase in electricity consumption is no longer limited to emerging and developing economies Breakneck demand growth from data centres and AI is helping drive up electricity use in advanced economies tooGlobal investment in data centres is expected to reach 580 billion in 2025 Those who say that âdata is the new oilâ will note that this surpasses the 540 billion being spent on global oil supply a striking example of the changing nature of modern economiesâ IANS https://dailyworld.in/business/as-risks-multiply-for-energy-need-for-diversification-and-global-cooperation-more-urgent-iea-648219.html Wed, 12 Nov 2025 15:57:00 +0530 https://dailyworld.in/business/fm-sitharaman-meets-msme-sector-stakeholders-for-pre-budget-consultation-648222.html New Delhi Nov 12 Finance Minister Nirmala Sitharaman on Wednesday chaired the third preBudget consultation with stakeholders from micro small and medium enterprises MSMEs The meeting was in connection with the forthcoming Union Budget 202627 according to a Finance Ministry statementUnion Minister for Finance and Corporate Affairs nsitharaman chairs the third PreBudget Consultation with the stakeholders from Micro Small and Medium Enterprises MSMEs in connection with the forthcoming Union Budget 202627 in New Delhi today the Ministry said in an X postThe meeting was also attended by Union Minister of State for Finance Pankaj Chaudhary and senior officials from the Ministry of Micro Small and Medium EnterprisesSitharaman earlier chaired the preBudget consultation meeting with representatives from farmer associations and agricultural economists ahead of the General Budget 202627According to an Assocham report published on Wednesday digitised and timebound single window clearances can be a gamechanger in improving the investment climate for MSMEs across statesThe report called for accelerated reforms aimed at simplifying business regulations improving approval systems and supporting the growth of Indiaâs MSMEs At the national level the report proposes a single consolidated annual MSME compliance form combining multiple filings It also suggests introducing biennial or triennial filing cycles for registered MSMEs to ease compliance under the Companies ActOn Monday FM Sitharaman held the first preBudget consultations with leading economists The meeting was attended by Chief Economic Adviser CEA V Anantha Nageswaran besides other economists and senior officers from the Department of Economic Affairs DEAAs part of the ongoing prebudget consultations the government has been holding a series of meetings with industry representatives to gather input for the upcoming Union Budget The discussions are centred on enhancing the ease of doing business and extending tax benefits to the last mile The government is expected to continue engaging with various industry bodies in the coming weeks before finalising its proposals for the Union Budget IANS https://dailyworld.in/business/fm-sitharaman-meets-msme-sector-stakeholders-for-pre-budget-consultation-648222.html Wed, 12 Nov 2025 15:59:00 +0530 https://dailyworld.in/business/indian-stock-market-rises-for-3rd-consecutive-day-this-week-648233.html Mumbai Nov 12 Indian equity indices closed on a positive note on Wednesday continuing the gaining momentum for the third consecutive session this week amid persistent buying in the IT pharma and auto sectors Sensex ended the session at 8446651 up 59519 points or 071 per cent The 30share index started the session with a huge gapup at 8423886 against last sessions closing of 8387132 The index continued the early momentum to hit the intraday high at 8465201 amid heavy buying in IT and auto heavyweightsNifty closed at 2587580 up 18085 points or 070 per centGlobal equities rallied on renewed risk appetite driven by optimism over the anticipated resolution of the US government shutdown and growing expectations of early Fed cuts amid signs of a cooling US labour market said Vinod Nair Head of Research Geojit Investments LimitedEmerging markets outperformed reflecting the improvement in global sentimentSupportive domestic macro fundamentals â including easing CPI and WPI inflation a strong GDP outlook and healthy H2 FY26 earnings expectations â continue to underpin positive market momentum he addedTCS Adani Ports Bharti Airtel Infosys Sun Pharma were among the gainers from the Sensex basket Tata Steel Tata Motors PV and Tata Motors CV settled in negative territoryThe majority of sectoral indices continued their gaining momentum amid value buying Nifty IT rose 738 points or 204 per cent Nifty Auto increased 336 points or 124 per cent Nifty Bank jumped 136 points or 023 per cent and Nifty Fin Services closed 82 points or 012 per cent higherThe broader market followed suit as well Nifty smallcap 100 rose 149 points or 082 per cent Nifty midcap 100 increased 475 points or 079 per cent and Nifty 100 ended the session 160 points or 061 per cent higherRupee traded down by Rs 006 at 8862 in a muted session remaining confined within a narrow range as traders awaited key economic cuesThe dollar index stayed largely sideways near 9960 showing limited directional movement Market participants are now eyeing this weekâs US CPI data which is expected to provide fresh triggers for the dollarâs trajectory and in turn influence rupee movements said analystsFor now the rupee is likely to remain rangebound with an expected trading band between 8840â8885 he added IANS https://dailyworld.in/business/indian-stock-market-rises-for-3rd-consecutive-day-this-week-648233.html Wed, 12 Nov 2025 17:04:00 +0530 https://dailyworld.in/business/indias-air-passenger-traffic-touches-202-million-in-h1fy26-up-26-pc-yoy-648234.html New Delhi Nov 12 Indias total air passenger traffic grew 26 per cent yearonyear to 202 million in H1FY26 up from 197 million a year earlier a report said on Wednesday Domestic traffic in India grew 16 per cent while international traffic in the country grew 69 per cent the report from ratings agency CareEdge Ratings saidPassenger traffic in India is now projected to reach 430 million in FY26 revised from its earlier estimate of 445 million passengers the report saidIt noted that healthy operating income is expected to translate into an increase in profit before interest taxes depreciation and amortisation PBILDT with an aggregate yoy growth of above 40 per cent for 11 airportsIt forecasted domestic passenger traffic to increase by 35 per cent for the entire fiscal year when international traffic is expected to grow about 8 per cent with the latter half of FY26 aided by the festive season and two new greenfield airports easing supply constraints and boosting traffic growthThe downward revision in growth came from crossborder tensions in Q1 FY26 lower aircraft availability due to fleetwide inspections following the fatal aircraft accident in June 2025 and a delay in the arrival of widebodied aircraft said Palak Vyas Associate Director CareEdge RatingsOver the medium term with passenger traffic expected to grow at a CAGR of 89 per cent the outlook for the airport sector is favourable However the timely delivery of widebodied aircraft shall remain monitorable for growth in international traffic he addedThe outlook is supported by airport and airline capacity expansions and robust air travel demand fuelled by favourable demographics and a rising middleclass population it notedThe financial risk profile of airport players is expected to remain healthy with aggregate aero revenue for 11 assessed airports estimated to grow 50 per cent YoY IANS https://dailyworld.in/business/indias-air-passenger-traffic-touches-202-million-in-h1fy26-up-26-pc-yoy-648234.html Wed, 12 Nov 2025 17:05:00 +0530 https://dailyworld.in/business/indias-cpi-inflation-declines-to-025-per-cent-in-october-as-gst-rate-cuts-kick-in-648240.html New Delhi Nov 12 Indias inflation rate based on the Consumer Price Index CPI declined further to 025 per cent in October as the impact of the GST rate cut brought down the prices of goods and services during the month according to figures released by the Ministry of Statistics on Wednesday The retail inflation eased further after having plummeted to an over 8year low of 154 per cent in September as prices of food items and goods across sectors fell during the monthThe declining trend in food prices continued in October as food inflation fell deeper in the negative zone at 502 per cent from 228 per cent in September Food inflation has now continued to stay negative for the fifth consecutive month bringing welcome relief to household budgetsThe decline in headline inflation and food inflation during October is mainly attributed to the full monthâs impact of the decline in GST favourable base effect and to drop in inflation of cooking oils vegetables fruits egg cereals footwear and transport and communication an official statement saidThe GST rate cuts which kicked in on September 22 are bringing down prices across goods leading to a further reduction in the inflation rateThe inflation outlook for 202526 has also become more benign due to large favourable base effects combined with the good southwest monsoon healthy kharif sowing adequate reservoir levels and comfortable buffer stocks of foodgrainsThe decline in the inflation rate gives the RBI more headroom to continue with a soft money policy by cutting interest rates and injecting more money into the economy to spur growthThe RBIâs monetary policy committee MPC on October 1 slashed its forecast for Indiaâs inflation rate for the financial year 202526 to 26 per cent from 31 per cent in August primarily on account of the GST rate cuts and benign food pricesRBI Governor Sanjay Malhotra had said The recently implemented GST rate rationalisation would lead to a reduction in prices of several items in the CPI basket Overall the inflation outcome is likely to be softer than what was projected in the August monetary policy committee resolution primarily on account of the GST rate cuts and benign food pricesAddressing journalists after the MPC meeting he said that the overall inflation outlook has turned even more benign in the last few monthsMalhotra said that the average headline inflation for 202526 is now revised lower from 37 per cent and 31 per cent projected in the June and August policy respectively to 26 per cent Headline inflation for Q4202526 and Q1202627 too have been revised downwards and are broadly aligned with the target despite unfavourable base effects Core inflation for this year and Q1202627 is also expected to remain containedThe RBI Governor pointed out that headline CPI inflation declined to its eightyear low of 16 per cent yearonyear in July 2025 before rising to 21 per cent in August â its first increase after nine months Benign inflation conditions during 202526 so far have been primarily driven by a sharp decline in food inflation from its peak in October 2024Inflation within the fuel group moved in a narrow range of 2427 per cent during JuneAugust Core inflation remained largely contained at 42 per cent in August Excluding precious metals core inflation was at 30 per cent in AugustThe RBI Governor further stated that the current macroeconomic conditions and the outlook have opened up policy space for further supporting growth IANS https://dailyworld.in/business/indias-cpi-inflation-declines-to-025-per-cent-in-october-as-gst-rate-cuts-kick-in-648240.html Wed, 12 Nov 2025 17:40:00 +0530 https://dailyworld.in/business/bank-credit-expansion-up-30-bps-in-fy26-amid-gst-reforms-report-648246.html New Delhi Nov 12 Bank credit expansion in FY26 is projected to touch Rs 195Rs 21 lakh crore up 30 bps from earlier estimates of Rs 19Rs 205 lakh crore a report said on Wednesday ICRA revised upwards its projection due to improved demand after the Goods and Service Tax GST rationalisation and liquidity boosts via the cash reserve ratio CRR cutsThe Net Interest Margins NIMs appear to have bottomed out in H1FY26 and slight recovery is anticipated in H2 FY26 according to the reportâThe outlook for banks for FY26 remains stable with no significant capital requirements anticipated Both public and private banks are expected to maintain comfortable solvency and asset quality metrics though a slight rise in credit cost is anticipated in H2 FY26 said Sachin Sachdeva Vice President and Sector Head ICRAWhile the banks remain cautious in lending to nonbanking financial companies NBFCs and the corporate demand is yet to see any meaningful revival the growth is expected to be driven by the retail and micro small and medium enterprise MSME segmentsThe robust credit offtake in H1 was driven by partial upfronting of demand from Q3 FY26 to Q2 FY26 given the early onset of festive season supported by GST cutsThe report forecasted a stable trajectory for the Indian banking sector in the ongoing fiscal year as banks navigate growth revival amid evolving asset quality and significant regulatory changesOn the asset quality front there had been a slight uptick in fresh nonperforming advances NPA generation rate in Q1 FY26 particularly among private banks due to higher unsecured retail and MSME advances although the same declined in Q2 FY26The gross NPAs are forecasted to rise slightly in FY2026 but stay within a comfortable range of 21â23 per cent IANS https://dailyworld.in/business/bank-credit-expansion-up-30-bps-in-fy26-amid-gst-reforms-report-648246.html Wed, 12 Nov 2025 18:19:00 +0530 https://dailyworld.in/business/india-needs-about-52-billion-annually-to-address-urban-climate-adaptation-needs-report-648253.html New Delhi Nov 12 India needs an estimated 52 billion about Rs 458 lakh crore annually to address its urban climate adaptation needs effectively according to a new report on Wednesday From scorching heatwaves to recordbreaking monsoons rising air pollution to unseasonal cyclones climate change is manifesting in increasingly dire ways in urban IndiaA new report by The Bridgespan Group in collaboration with United Way of Mumbai and HSBC India spotlights opportunities to strengthen climate resilience across Indiaâs vast informal sector that forms the backbone of every cityâs economy and accounts for roughly 40 per cent of Indiaâs urban populationThe study examines how Indiaâs informal workers and settlement dwellers are responding to intensifying climate risks such as heatwaves flooding and air pollutionBased on conversations with communities and experts the report outlines five practical investment ideas â or âbold betsâ â that can drive locally led climate adaptation and attract additional public and private fundingThese are climatesmart housing modifications that improve heat resilience and energy efficiency climateindexed wage insurance that stabilises income during climaterelated disruptions sustainable urban drainage systems that strengthen water security and reduce flooding distributed renewableenergy systems that provide reliable affordable power in informal settlements and climateresilient microentrepreneurship that expands green indoor livelihoods and fosters innovationâFinancing climate resilience in informal urban communities is not just about mitigating risk it is about unlocking opportunity The report highlights the important role philanthropy CSR and venture capital can play in demonstrating solutions to unlock capital â public and privateâ said Aloka Majumdar MD and Head of Sustainability HSBC IndiaAnant Bhagwati Bridgespan Partner and report coauthor added that âWe hope this report sparks collaborative action serving as a starting point for funders and investors to build a more equitable and climateresilient future for everyone who lives and works in our citiesâ IANS https://dailyworld.in/business/india-needs-about-52-billion-annually-to-address-urban-climate-adaptation-needs-report-648253.html Wed, 12 Nov 2025 19:09:00 +0530 https://dailyworld.in/business/adani-cement-to-deploy-worlds-1st-industrial-grade-coolbrook-tech-to-boost-cement-decarbonisation-648165.html Ahmedabad Nov 12 Adani Cement and Finnish company Coolbrook on Wednesday announced to deploy worldâs first commercial âRotoDynamic Heaterâ to advance cement decarbonisation at the Boyareddypalli Integrated Cement Plant in Andhra Pradesh This marks the first industrial scale deployment of Coolbrookâs RDH technology advancing Adani Cementâs netzero goals achievement by 2050 validated by the SBTi and Coolbrookâs goal of cutting 24 billion tonnes of annual carbon dioxide across heavy industry sectors globallyThis deployment is expected to directly reduce 60000 tonnes of carbon emissions annually with a potential to increase 10 times in due course marking a major step toward decarbonising cement manufacturingâThe worldâs first commercial deployment of Coolbrookâs RotoDynamic Heater within our operations marks a pivotal moment in our decarbonisation journey This is a major leap towards achieving our netzero goalsâ said Vinod Bahety CEOCement Business Adani GroupNotably the RDH system will be powered entirely by Adani Cementâs largescale renewable energy portfolio ensuring that the industrial heat generated is completely emission freeâBy integrating such cuttingedge electrification solutions into our cement production we are accelerating the shift away from fossil fuels reducing emissions at scale enhancing the utilisation of clean energy sources and setting a new standard for lowcarbon cement manufacturingâ he addedThis technology will decarbonise the calcination phase the most fossil fuelintensive stage of cement production By providing clean heat to dry and enhance the heating value of alternative fuels the technology enables a significantly higher substitution of fossil fuels with sustainable alternativesâEntering into the first industrialscale project in the world with Adani Cement marks a transformative step for industrial electrification in one of the worldâs most vital cement marketsâ said Joonas Rauramo CEO of CoolbrookâOur mission is to make RotoDynamic Technology a new industry standard for decarbonising hardtoabate sectors Together weâre redefining how cement is produced â cleaner more efficient and ready for a netzero futureâ Rauramo addedThe deployment demonstrates the realworld feasibility of clean electrified industrial heat powered entirely by renewables This positions Adani Cement to spearhead Indiaâs emergence as the worldâs clean manufacturing cement hubCoolbrook and Adani Cement have identified multiple followon opportunities for deploying RotoDynamic Technology across Adani Cementâs industrial operations and share an ambition to launch at least five additional projects within the next two yearsAs the 9th largest cement producer globally Adani Cement has 107 MTPA of installed capacity and accounts for nearly 30 per cent of the cement used in Indiaâs housing and infrastructure projects IANS https://dailyworld.in/business/adani-cement-to-deploy-worlds-1st-industrial-grade-coolbrook-tech-to-boost-cement-decarbonisation-648165.html Wed, 12 Nov 2025 09:39:00 +0530 https://dailyworld.in/business/sensex-nifty-open-in-green-over-us-india-trade-talks-bihar-exit-polls-648168.html Mumbai Nov 12 The Indian benchmark indices opened in green zone on Wednesday amid reports of an imminent IndiaUS trade deal and exit polls in Bihar predicting decisive majority for NDA As of 925 am Sensex advanced 496 points or 059 per cent at 84367 and Nifty inched up 147 points or 058 per cent to 25842The broadcap indices performed in line with the benchmarks with the Nifty Midcap 100 up 055 per cent and the Nifty Smallcap 100 adding 061 per centMax Healthcare and Tech Mahindra were among the major gainers in the Nifty Pack while losers included Maruti Suzuki and TrentAll sectoral indices were trading in green except Nifty FMCG mixed with most of them trading with mild negative bias Nifty IT and Nifty Oil and Gas were the standout gainers up 126 per cent and 095 per centWith reports of an imminent IndiaUS trade deal and exit polls showing the NDA winning Bihar sentiments have improved This will strengthen bulls but not enough to give markets a decisive breakout and sustained rally said market watchersBased on current trends FIIs may sell again at higher levels till the AI trade continues they addedFrom the fundamental perspective there is room for optimism since GDP growth is robust and earnings growth for FY27 appears bright Financials consumption and defence stocks have the potential to lead the next leg of the rallyMost of the AsiaPacific markets rose in early trading sessions after Wall Street traded mixed on hopes that the US government shutdown could be nearing an end even as AI stocks struggledThe US markets ended mixed overnight as Nasdaq slipped 03 per cent the SampP 500 added 018 per cent and the Dow inched up 12 per centIn Asian markets Chinas Shanghai index dipped 023 per cent and Shenzhen dipped 1 per cent Japans Nikkei dipped 021 per cent while Hong Kongs Hang Seng Index advanced 056 per cent South Koreas Kospi jumped 084 per centOn Monday foreign institutional investors FIIs sold equities worth Rs 803 crore while domestic institutional investors DIIs were net buyers of equities worth Rs 2188 crore IANS https://dailyworld.in/business/sensex-nifty-open-in-green-over-us-india-trade-talks-bihar-exit-polls-648168.html Wed, 12 Nov 2025 10:01:00 +0530 https://dailyworld.in/business/tn-to-spend-rs-25-100-crore-on-power-purchase-to-meet-rising-demand-648174.html Chennai Nov 12 With the stateâs daily electricity demand averaging 16000 megawatts MW Tamil Nadu is gearing up for a massive power procurement exercise worth over Rs 25100 crore over the next five years to ensure uninterrupted supply during both regular and peak hours According to the Tamil Nadu Generation and Distribution Corporation TANGEDCO the state currently generates an average of 3000 MW from thermal plants 1000 MW from hydropower stations and around 150 MW from gasbased plantsThe remaining demand is met through central generating stations and private power companies To address the increasing consumption particularly during highdemand periods the state has floated tenders to procure 500 MW of electricity every day during peak hours for the next three years In addition a fiveyear tender has been issued to purchase 1000 MW of power round the clock from private producersThe peak hours between 6 am and 10 am and again from 6 pm to 10 pm are the most expensive period for electricity procurement Even if the maximum tariff is capped at Rs 8 per unit the daily expenditure for 500 MW would amount to nearly Rs 32 crore translating to about Rs 3500 crore over three yearsMeanwhile the 24hour supply agreement for 1000 MW over five years is projected to cost approximately Rs 21600 crore Together the total outlay for both arrangements will reach Rs 25100 croreOfficials noted that the decision was made to prevent outages during the upcoming northeast monsoon season and to maintain grid stability as the stateâs demand continues to rise steadilyThe government is also exploring renewable energy integration with a focus on solar and wind sources to gradually reduce dependence on costly thermal and imported powerThe new procurement strategy is expected to provide crucial support to Tamil Naduâs industries and domestic consumers alike ensuring a stable and reliable power supply despite fluctuating generation levels from hydel and renewable sources IANS https://dailyworld.in/business/tn-to-spend-rs-25-100-crore-on-power-purchase-to-meet-rising-demand-648174.html Wed, 12 Nov 2025 11:39:00 +0530 https://dailyworld.in/business/over-50-pc-of-indian-firms-to-build-new-data-centre-capacity-in-1-year-as-ai-workloads-grow-648177.html Mumbai Nov 12 Over half of Indian companies expect AI workloads to grow by more than 50 per cent in three to five years with 51 per cent building new dataâcentre capacity within 12 months a report said on Wednesday The report by networking gear major Cisco noted that 91 per cent of Indian organisations are deploying autonomous AI agents adding that only 37 per cent can properly secure themGlobally 13 per cent of organisations that have deployed artificial intelligence AI are outperforming peers by making fundamental infrastructure choices that create compounding advantages the report addedCalling such organisations pacesetters Cisco said that 97 per cent of global pacesetters have deployed AI at the scale and speed needed to unlock use cases and achieve ROIThey build networkfirst foundations prioritize power infrastructure optimise continuously and embed security from day one the report saidAs much as 45 per cent of Indian companies without this level of architectural foresight risk accumulating âAI Infrastructure Debt said Simon Miceli Managing Director Cloud and AI infrastructure Asia Pacific Japan and Greater China CiscoThis technical debt can compound into operational risk security exposure compliance challenges and competitive disadvantage the report notedCisco identified four architectural choices that distinguished AL leaders as they prioritise continuous optimisation after deployment treat the network as a foundation estimate power early and build security as infrastructure from day oneWhile most respondents focus on compute pacesetters prioritise network infrastructure with 81 per cent of global Pacesetters rating their network as optimal for AI workloads the report notedâPacesettersâ are winning not because they spend more but because they made architectural bets earlyâbefore workloads demanded them before bottlenecks emerged before security became urgent the report said IANS https://dailyworld.in/business/over-50-pc-of-indian-firms-to-build-new-data-centre-capacity-in-1-year-as-ai-workloads-grow-648177.html Wed, 12 Nov 2025 12:02:00 +0530 https://dailyworld.in/business/tata-motors-commercial-vehicle-arm-debuts-at-28-pc-premium-shares-fall-over-3-pc-post-listing-648188.html Mumbai Nov 12 The shares of Tata Motorsâ commercial vehicle business made a strong debut on the stock exchanges on Wednesday listing at Rs 335 per share on NSE up 28 per cent over the discovered price of Rs 26075 On the BSE the shares were listed at Rs 33025 a premium of 26 per cent from their earlier valuation of Rs 26190 per shareHowever postlisting the shares which will now officially be known as Tata Motors Ltd fell by around 35 per cent from the listing price to a low of Rs 32260 on the NSEAt around 1135 am the stock was trading at Rs 32865 down 190 per cent from the listing price on NSE Meanwhile shares of Tata Motors Passenger Vehicle were trading at Rs 40475 down 069 per centThe listing marks the completion of the demerger of Tata Motorsâ commercial vehicle and passenger vehicle businesses a strategic move aimed at enhancing business focus and unlocking value for shareholdersThe company had fixed October 14 as the record date to determine the eligibility of shareholders entitled to receive shares in the newly demerged commercial vehicle entity The demerger officially took effect on October 1Following the split the passenger vehicle division was renamed Tata Motors Passenger Vehicles Ltd TMPVL while the commercial vehicle entity retained the Tata Motors name TMLThe board of Tata Motors had approved the 11 demerger in August 2024 creating two independent listed entitiesâTata Motors Commercial Vehicles TMCV and Tata Motors Passenger Vehicles TMPVThe move is intended to sharpen strategic priorities strengthen operational agility and capitalise on future growth opportunities across both verticals IANS https://dailyworld.in/business/tata-motors-commercial-vehicle-arm-debuts-at-28-pc-premium-shares-fall-over-3-pc-post-listing-648188.html Wed, 12 Nov 2025 12:16:00 +0530 https://dailyworld.in/business/adani-group-forays-into-battery-energy-storage-with-one-of-worlds-largest-single-location-projects-647952.html Ahmedabad Nov 11 The Adani Group on Tuesday announced its foray into the Battery Energy Storage Systems BESS sector with a pioneering 1126 MW3530 megawatthour MWh project which would be commissioned by March 2026 The project entailing deployment of more than 700 BESS containers will be the largest BESS installation in India and one of the worlds largest singlelocation BESS deploymentsThis BESS project would have a power capacity of 1126 MW and energy storage capacity of 3530 MWh thus extending power capacity of 1126 MW by 3 hoursEnergy storage is the cornerstone of a renewablepowered future With this historic project we are not only setting global benchmarks but also reinforcing our commitment to Indias energy independence and sustainability This initiative will enable us to deliver reliable clean and affordable energy solutions at scale said Gautam Adani Chairman of Adani GroupWith this strategic entry the Adani Group joins the ranks of global energy leaders investing in largescale storage infrastructure marking a transformative moment in Indias clean energy journeyAccording to the company the strategic initiative is a major step toward enhancing Indias energy security enabling roundtheclock clean electricity and supporting the countrys transition to a lowcarbon futureThe BESS will play a critical role in easing peak load pressures reducing transmission congestion and mitigating solar curtailment thereby improving grid reliability and efficiencyThe project is in the advance stages of deployment at Khavda the worlds largest renewable energy plant and is being developed with cuttingedge lithiumion battery technology and is being integrated with advanced energy management systems to ensure optimal performance and reliabilityThe deployment will support peak load management and energy shifting thereby playing a critical role in decarbonising the power sectorThe Adani Group plans to deploy an additional 15 GWh of BESS capacity by March 2027 with a longterm target of 50 GWh total over the next five years IANS https://dailyworld.in/business/adani-group-forays-into-battery-energy-storage-with-one-of-worlds-largest-single-location-projects-647952.html Tue, 11 Nov 2025 09:37:00 +0530 https://dailyworld.in/business/s-koreas-biotech-industry-output-rises-98-pc-despite-global-uncertainty-647962.html Seoul Nov 11 South Koreas biotechnology industry output grew nearly 10 per cent in 2024 from a year earlier despite persistent global trade uncertainties industry data showed on Tuesday The countrys biotechnology industry production came to 2292 trillion won US157 billion last year up from 2087 trillion won in 2023 the Ministry of Trade Industry and Energy MOTIE said citing a survey by the Korea Biotechnology Industry Organization KoreaBIOThe figure marked a recovery following a 12 percent onyear decline in 2023 signaling renewed growth momentum in the sector reports Yonhap news agencyBy product category production of therapeutic antibodies and cytokine products reached 486 trillion won followed by biomanufacturing and contract services at 321 trillion won and feed additives at 311 trillion won the data showedExports in the sector rose 171 percent onyear in 2024 while related RampD and facility investments jumped 461 percent the ministry saidThe government will expand support for companies in RampD production and exports to ensure the bio industry contributes more to the countrys economic growth and job creation a ministry official saidMeanwhile Seoul shares opened higher on Tuesday tracking overnight gains on Wall Street amid hopes for an end to the US government shutdownThe benchmark Korea Composite Stock Price Index KOSPI rose 8906 points or 219 percent to 416230 in the first 15 minutes of tradingOvernight the Dow Jones Industrial Average gained 081 percent while the techheavy Nasdaq Composite advanced 227 percentThe US Senate advanced a plan to end the recordlong government shutdown and President Donald Trump expressed support for the bipartisan dealIn Seoul most largecap stocks traded higherMarket bellwether Samsung Electronics jumped 388 percent and its chip rival SK hynix climbed 33 percentTop automaker Hyundai Motor rose 074 percent while its smaller affiliate Kia gained 097 percent IANS https://dailyworld.in/business/s-koreas-biotech-industry-output-rises-98-pc-despite-global-uncertainty-647962.html Tue, 11 Nov 2025 10:32:00 +0530 https://dailyworld.in/business/indias-grade-a-office-space-demand-to-touch-70-million-square-feet-in-2025-647966.html Bengaluru Nov 11 Despite global trade frictions Indias Grade A office space demand across the top seven cities continue to remain robust and is poised to touch 70 million square feet in 2025 according to a report on Tuesday New supply is also likely to follow closely at around 60 million square feet Corporate occupiers are taking bold steps to reshape their workplaces across Asia Pacific investing in quality embracing hybrid models and exploring inclusive strategies to meet the needs of a diverse workforce according to Colliers latest reportAccording to the report hybrid work inclusive strategies employee need fulfillment sustainability adoption and technological adeptness are likely to remain at the forefront of workspace revolution across major office markets of the APAC regionInterestingly the Indian office market already prioritises inclusivity and sustainability to a greater degree as compared to othersIndian occupiers are clearly shifting towards sustainability and there is an evident flighttoquality driving the next phase of workplace evolution in 2026 and beyond With over 80 per cent of upcoming Grade A supply expected to be greencertified the industrys commitment to environmental goals is commendable said Arpit Mehrotra Managing Director Office Services India ColliersIndias office market is not just scaling up but is also evolving rapidly in terms of real estate quality and employee experienceFlex spaces have established themselves as a vital component of Indias office landscape supporting hybrid work models and returntooffice mandates while achieving cost efficiency and agilityThese spaces offer scalable solutions that enable companies to manage growth and uncertainty seamlessly With their rising adoption across diverse sectors flex spaces are expected to drive nearly 20 per cent of the Grade A office demand and redefine the future of Indian workplaces over the next few years said Vimal Nadar National Director and Head of Research Colliers India IANS https://dailyworld.in/business/indias-grade-a-office-space-demand-to-touch-70-million-square-feet-in-2025-647966.html Tue, 11 Nov 2025 10:52:00 +0530 https://dailyworld.in/business/bfsi-oil-and-gas-lead-fii-inflows-in-oct-fmcg-sector-leads-outflows-report-647969.html Mumbai Nov 11 While foreign institutional investors FIIs returned as net buyers in October BFSI banking financial services and insurance and Oil and Gas sectors led inflows seeing investments worth 1501 million and 1030 million respectively a report said on Tuesday In October both FIIs and DIIs were net buyers to the tune of 13 billion and 60 billion respectively as the Nifty increased by 45 per cent last month according to the report from brokerage firm JM Financial Institutional SecuritiesSectors that saw the high FII inflows included metals telecom auto and power sectors recorded inflows of 355 million 243 million 110 million and 109 million respectively the report addedFMCG experienced the highest FII outflows at 482 million followed by services at 391 million pharma at 351 million IT at 248 million durables at 198 and chemicals at 105 million it notedIn terms of equity holdings by FIIs BFSI auto IT oil amp gas and pharma represent approximately 60 per cent of FII assets under custody AUC in India the release saidBFSI remained the largest sector holding 317 per cent of FII AUC the report notedOf these there was a sequential uptrend in BFSI and IT while auto and oil and gas saw a decrease Pharma remained flatIndian equities recovered strongly in October with Sensex and Nifty up over 4 per cent aided by FII inflows and improved domestic sentimentReal estate led sectoral performance while oil amp gas metals banks and IT outperformed the Nifty even as healthcare power FMCG and autos underperformedThe NSE Midcap index rose 48 per cent and the BSE Smallcap index gained 32 per centNifty is currently trading above 20 times FY27 estimated earnings which is slightly above last 10year average PE ratio IANS https://dailyworld.in/business/bfsi-oil-and-gas-lead-fii-inflows-in-oct-fmcg-sector-leads-outflows-report-647969.html Tue, 11 Nov 2025 11:00:00 +0530 https://dailyworld.in/business/going-quiet-stepping-up-philanthropy-warren-buffett-in-farewell-letter-647971.html New Delhi Nov 11 Billionaire philanthropist Warren Buffett in his letter to shareholders has said he will go quiet after stepping down as Chief Executive Officer CEO of Berkshire Hathaway at yearend Buffett 94 also confirmed plans to step up his philanthropic efforts pledging to donate the remaining 149 billion in Berkshire stock which he still holdsIn his final famed annual letter as CEO Buffett also reflected on business and ageing saying that I am at the office five days a week where I work with wonderful peopleHe disclosed that he had converted 1800 Class A shares worth about 135 billion into the companys lowerpriced B shares and donated them to four of his family foundationsTo improve the probability that they will dispose of what will essentially be my entire estate before alternate trustees replace them I need to step up the pace of lifetime gifts to their three foundations he explainedBuffet had announced earlier this year that Berkshire Hathaway would henceforth be run by Gregory Abel 63 who has been with the company since 2000Buffett mentioned that his optimism for Berkshire Hathaways future remains bright adding that he will retain a significant amount of Class A shares until shareholders are comfortable with the leadership transitionWarren Buffett now retired is among the top five richest people in the world with 1521 billionThe investing legend had earlier this year criticised US tariffs imposed by President Donald Trump calling them a big mistake and warned that trade should never be used as a weaponBuffett also said that governments have a natural tendency to gradually devalue currency over time He called it a scary phenomenon and admitted that the US dollar is expected to weaken against foreign currencies in 2025 IANS https://dailyworld.in/business/going-quiet-stepping-up-philanthropy-warren-buffett-in-farewell-letter-647971.html Tue, 11 Nov 2025 11:48:00 +0530 https://dailyworld.in/business/inspired-by-hpcl-green-research-and-development-centre-hardeep-puri-647989.html New Delhi Nov 11 Union Petroleum Minister Hardeep Singh Puri on Tuesday said he was inspired by the work of governmentowned Hindustan Petroleum Corporation Limited HPCL Green RampD Centre in Bengaluru and asked them to step up their scope and pace In a post on X social media platform Puri said Felt inspired and excited after visiting the HPCL Green RampD Centre at BengaluruThe stateoftheart RampD centre has over 150 dedicated scientists who are working in areas of refining technologies petrochemical catalysts battery technologies internal combustion engine testing flex fuel engine timing kits green hydrogen for mobility and conversion of seaweed into biocrude the minister saidHe noted that 37 per cent of the scientists at the centre are women leaders who are doing pioneering work to create an Energy Aatmanirbhar BharatPraising its work on refining technologies and green fuels Puri said Fascinating work is being done at the centre and I encouraged the team members to expand the scope and pace of their path breaking projectsEarlier this month he said Indias energy journey is entering a new era as seven sedimentary basins are under study with advanced technology for the exploration of oil and gas across the countryThis is a great time for entrepreneurs and industry leaders to look at oil and gas exploration in India It has never been easier faster or more profitable to invest in Indias energy future according to PuriWhile the global energy market is expected to grow at a slow pace India stands out as a bright spot projected to contribute nearly 3033 per cent of global energy demand growth in the coming decades he addedIndia with its 23 worldclass refineries and a total capacity of 2582 MMTPA million metric tonnes per annum now stands among the top five refining nations in the world IANS https://dailyworld.in/business/inspired-by-hpcl-green-research-and-development-centre-hardeep-puri-647989.html Tue, 11 Nov 2025 12:23:00 +0530 https://dailyworld.in/business/adani-groups-solid-asset-base-anchors-cash-flow-credit-profile-of-usd-bonds-bofa-647995.html Ahmedabad Nov 11 BofA Securities on Tuesday said that Adani Groups operations remain sound amid structural protections which reflect strong market access adding that a solid asset base anchors cash flow and credit profile of the Groups USD bond issuers across ports utilities and renewable sectors The Adani Group showcased operation expansion and market access amid global scrutiny as ratings stayed put while outlookswatches changed according to the global brokerage which added that the Groups solid credit fundamentals support our positive stance on the USD bondAccording to BofA the holding companies of the groups USD bond issuers have reported better fundamentals over the last two years underpinned by EBITDA growth on capacity expansion along with moderation in leverageLooking ahead we expect ADSEZs credit profile to improve further supported by its diversified ports sticky volumes and ecient operations We estimate ADSEZs leverage to stay 25x despite hey investments said the global brokerageThe Adani Group is one of Indias largest conglomerates operating across various infrastructure sectors with 12 listed entities and around 200 billion market capWe expect Adani Transmission Ltd ADTIN and Adani Electricity Mumbai ADANEM to maintain steady credit profiles supported by their diversified operations and regulated andor longterm fixedprice contracts the note further saidBofA said it forecasts both ADTIN and ADANEM to maintain leverage under 6x and coverage above 2x in the next three years despite ADTINs high capex plan while ADANEM further benefits from maintenance like modular outlaysThe credit profile of restricted groups ADINCO AdaniConneX Adani Green Energy Limited ADGREG and Adani Renewable Energy ARENRJ will gradually improve as the debt amortises per bond indentures it addedAdani Groups USD bonds have experienced significant volatility since early 2023 However consistent market access and a lack of adverse conclusions from domestic regulators supported a strong rebound across the complexThe bonds outperformed YTD with tightening by 80325bps and trading 1464 bps under preUS indictment levelOperational resilience and continued liability management underpin our constructive stance on the complex despite YTD tightening We are Overweight on ADSEZ 31s32s ADINCO 31s ADTIN 36s and ADANEM 30s supported by strong credit fundamentals and attractive relative valuation the note explained IANS https://dailyworld.in/business/adani-groups-solid-asset-base-anchors-cash-flow-credit-profile-of-usd-bonds-bofa-647995.html Tue, 11 Nov 2025 13:05:00 +0530 https://dailyworld.in/business/indias-poultry-sector-likely-to-record-4-6-per-cent-revenue-growth-in-2025-26-as-demand-rises-648008.html Mumbai Nov 11 The poultry sector in India is projected to see revenue increase by 46 per cent during the current financial year driven by increasing rural demand higher per capita consumption of meat and growing preference for a proteinrich diet according to a Crisil report released on Tuesday Operating margin however will slip 08 to 1 per cent because of lower broiler prices in the first half of the financial year which will be partly mitigated by a subsequent recovery in broiler prices and favourable feed costs throughout the year the report statesHowever despite the lower profitability credit profiles of poultry companies are seen stable backed by modest capital expenditure limited debt addition and steady accrualThe report is based on an analysis of 34 companies with a cumulative revenue of Rs 10815 crore during the last financial yearThe layeregg segment accounts for 55 per cent of the poultry industry by value and the broiler segment for the remaining 45 per cent In the broiler segment revenue growth is likely to slow to 13 per cent during the current financial year due to lower realisationsCrisil Ratings director Jayashree Nandakumar said that Wholesale broiler prices fell 20 per cent yearonyear to Rs 110115 per kg in the first quarter of this fiscal as a short summer and an early monsoon led to relatively higher bird weights and hence a surplus in supply Subsequently with the onset of the festive season broiler prices have begun to recover Yet average broiler prices will be lower by 46 per cent in the current fiscalSales volume in the broiler segment is expected to grow 68 per cent to around 586 lakh tonne during the current financial yearIn the layeregg segment the sales volume is seen up 46 per cent to around 15750 crore eggs even as prices are seen rising a steady 24 per cent amid stable demand Indias per capita consumption of eggs at 102 per annum is significantly below the global average of 218 indicating substantial growth potential Hence the egg segments revenue is poised to grow 79 per cent during the current financial year the report further statedThe blended revenue growth of the poultry industry is expected at 46 per cent in the current fiscal Profitability however is seen under pressure The first half of this fiscal saw broiler prices crash leading to substantial inventory losses for industry players and thereby around 2 per cent decline in the operating margin In the second half however players will be able to minimise losses on account of subsequent recovery in broiler prices and favourable feed costs the report added IANS https://dailyworld.in/business/indias-poultry-sector-likely-to-record-4-6-per-cent-revenue-growth-in-2025-26-as-demand-rises-648008.html Tue, 11 Nov 2025 13:42:00 +0530 https://dailyworld.in/business/indigo-begins-daily-direct-flights-between-delhi-and-guangzhou-648012.html New Delhi Nov 11 Lowcost airline IndiGo on Tuesday said it has commenced daily nonstop flights between Delhi and Guangzhou China This new route will further strengthen direct connectivity between the two nations by connecting the national capital and a key aviation hub with Guangzhou a major business and manufacturing centre in Southern ChinaThe flights on this route will be operated using IndiGos A320neo aircraft offering affordable convenient and comfortable travel experience on the routeFollowing the successful resumption of our KolkataGuangzhou flights we are delighted to further expand IndiGos presence in China with this new daily connection from Delhi This new route from the Indian Capital and our largest domestic hub will strengthen travel options and encourage economic and cultural exchange between the two countries said Pieter Elbers Chief Executive Officer at IndiGoIt will also connect Guangzhou to IndiGos vast domestic network of more than 90 destinations giving access across India to Chinese travellersWe are thankful to both governments for their support in restoring these links opening significant opportunities for trade tourism and collaboration As we continue to expand internationally we remain committed to building such strategic air corridors that foster deeper regional connectivity and unlock new avenues for growth saidIndiGo and China Southern Airlines also signed a memorandum of understanding MOU on Tuesday to establish a codeshare partnership and mutual cooperation agreementWith this China Southern Airlines will be able to offer enhanced connectivity into India while IndiGo customers will be able to connect on the China Southern Airlines extensive network beyond GuangzhouThis is subject to regulatory approvals said the airlineThe partnership aims to offer enhanced travel options and integrated travel itineraries to customers traveling between India and China on the joint network of both airlines besides through checkin process among other benefitsChina Southern Airlines highly values the development potential of the Indian market Through cooperation with IndiGo we will be able to further leverage each others advantages offer a wider range of travel products and give new momentum to the economic cultural and aviation exchanges between the two countries said Han Wensheng President and CEO of China Southern Airlines IANS https://dailyworld.in/business/indigo-begins-daily-direct-flights-between-delhi-and-guangzhou-648012.html Tue, 11 Nov 2025 14:02:00 +0530 https://dailyworld.in/business/indias-smartphone-market-at-5-year-high-apple-logs-highest-ever-quarterly-shipments-648033.html New Delhi Nov 11 The smartphone market in India reached a fiveyear high in the festive third quarter of 2025 Q3 growing 43 per cent yearoveryear YoY to 48 million units according to the International Data Corporation IDC data released on Tuesday Apple recorded its highestever quarterly shipments in India in the third quarter of 2025 Q3 2025 reaching 5 million units and securing the fourth position in the market for the first timeThe iPhone maker achieved a strong 256 per cent YoY growth driven by sustained demand across both new and existing modelsThe iPhone 16 remained the mostshipped smartphone in India during the quarter contributing 5 per cent of total market shipments while the newly launched iPhone 17 series and iPhone Air saw a recordbreaking debut accounting for 16 per cent of Apples Q3 shipments the strongest launchquarter performance for any iPhone since 2021The midpremium segment grew 107 per cent YoY with share rising from 3 per cent to 4 per cent Samsung climbed to the top position followed by OPPO and OnePlusThe Galaxy S24 contributed nearly onequarter of total shipments in this range driven by steep discounting on etailer platformsAggressive festive promotions and flexible financing options drove strong shipment volumes in Q3 2025 However consumer demand remained concentrated in the premium segment leaving the mass market under pressure and resulting in a significant inventory buildup heading into Q4 2025 said Upasana Joshi senior research manager Devices Research IDC Asia PacificThis surplus has been further exacerbated by rising component costs particularly in memory and currency fluctuations prompting brands to raise prices postDiwaliAs a result IDC forecasts a yearoveryear decline in shipments for Q4 2025 leading to an overall annual contraction with total smartphone shipments expected to fall below 150 million units for the year Joshi mentionedSmartphone average selling prices ASPs surged to a record 294 in Q3 growing 137 per cent yearoveryear YoY driven by strong demand for premium and higherspec models IANS https://dailyworld.in/business/indias-smartphone-market-at-5-year-high-apple-logs-highest-ever-quarterly-shipments-648033.html Tue, 11 Nov 2025 15:12:00 +0530 https://dailyworld.in/business/sip-inflows-hit-all-time-high-of-rs-29-529-crore-in-oct-648037.html Mumbai Nov 11 The systematic investment plan SIP inflow in October registered a monthonmonth MoM growth to reach an alltime high of Rs 29529 crore compared to Rs 29361 crore in September data from the Association of Mutual Funds in India AMFI showed on Tuesday Despite volatility in the domestic equity market during the month the steady growth in SIP in the month reflects the strong retail participation which led the mutual fund industrys total assets under management AUM to increase to Rs 7987 lakh crore from Rs 7561 lakh crore a month earlierContinued SIP inflow remains the most encouraging strength holding steady at around Rs 29500 crore This underlines the maturity and resilience of retail investors who are staying disciplined with their longterm wealth creation goals despite shortterm market fluctuations said Suranjana Borthakur Head of Distribution and Strategic Alliances Mirae Asset Investment Managers IndiaWe believe investors should continue their SIPs as staying invested through market cycles remains the best way to build wealth over time she addedFlexicap category increased inflows compared to last month while most other equity categories had lower inflows and overall equity inflows were lowerThe general reading from the fund flows data shows that overall investors remain confident of equities and continue allocating large amounts to equities however some investors feel less confident and are allocating to debtoriented schemes like arbitrage multi asset and corporate bond funds and also to gold said Dr Vikas Gupta CEO and Chief Investment Strategist at OmniScience CapitalMeanwhile gold exchangetraded funds ETFs continued to attract steady investor interest with net inflows of Rs 7743 crore the data showedWith cumulative net inflows of Rs 27573 crore in 2025 gold ETFs remain among the most resilient segments in the passive space reaffirming their growing role in portfolio stability and risk mitigation said Nehal Meshram Senior Analyst Manager Research Morningstar Investment Research IndiaThe sustained momentum highlights investors continued preference for gold as a safehaven and portfolio diversifier amid lingering geopolitical risks global market volatility and uncertainty around the interestrate trajectory of major central banks IANS https://dailyworld.in/business/sip-inflows-hit-all-time-high-of-rs-29-529-crore-in-oct-648037.html Tue, 11 Nov 2025 15:15:00 +0530 https://dailyworld.in/business/soldiers-scientists-and-startups-must-unite-to-create-new-defence-technology-rajnath-singh-648053.html New Delhi Nov 11 IANS Highlighting the governments efforts to make India a leader in technology Defence Minister Rajnath Singh said on Tuesday that the countrys defence industrial base is expanding rapidly with the synergy among DRDO Armed Forces industry and academia creating a virtuous cycle of research testing field feedback and innovationnbspHe was delivering the inaugural address at the Delhi Defence Dialogue organised by Manohar Parrikar Institute for Defence Studies and Analyses MPIDSA on the theme Harnessing New Age Technology for Defence Capability DevelopmentThe minister said for India to move from a consumer to a creator of technology there was a need to not only acquire new innovations but create the conditions where niche products thrive through sound processes agile institutions and a spirit of collaboration that unites the soldier the scientist the startup and the strategistnbspIndia can no longer be content with merely catching up to global innovation and there is a need to continue nurturing the culture of innovation by encouraging collaboration over silos and speed over procedural inertiaThe Defence Minister highlighted initiatives such as the Innovations for Defence Excellence iDEX and the Technology Development Fund TDF that are nurturing a new generation of innovators They are the architects of a future where cuttingedge technologies from autonomous systems and quantum sensors to advanced materials and spacebased surveillance will bear the imprint of Indian ingenuity From young entrepreneurs MSMEs to captains of Indian multinationals individuals and companies have displayed the collective will to help achieve the mission of Viksit Bharat and Aatmanirbharta he observedRajnath Singh underscored the essentiality to extend Aatmanirbharta beyond manufacturing indigenous systems to digital sovereignty control over the algorithms data and chips that power platforms True strategic autonomy will come only when our code is as indigenous as our hardware We are therefore encouraging secure indigenous software stacks trusted semiconductor supply chains and homegrown AI models trained on Indian dataAmidst all the excitement about machines and algorithms we must remember that technology is not meant to replace human judgement but to amplify it We must also invest in the ethical psychological and legal dimensions of these emerging technologies India as a civilisational power can and must lead the conversation on responsible and humane use of military technology the minister pointed outRajnath Singh emphasised that technology must be seen not only as a force multiplier but also as a resource optimiser He endorsed to leverage technology and data analytics in the capital procurement process to improve decisionmaking and ensure optimal use of every resource In many advanced nations the concept of lifecycle cost is deeply woven into their procurement frameworks Recently I have directed that we too must begin to assess these sustenance costs right at the inception stage of every procurement proposal This will help us see the full picture not only what we invest today but what we must sustain tomorrow he saidThe minister urged the Armed Forces to remain on the lookout for best global practices not just in technology related to equipment but also those related to training logistics planning and management systemsnbspWhile Rajnath Singh stressed on absorbing and adapting to disruptive technologies such as Artificial Intelligence AI Machine Learning Quantum Computing ampamp Swarm Tech he said the true test of advancement lies in how the apparatus functionsHarnessing technology is not just about adding new tools it is about making our institutions more agile anticipatory and adaptive and creating a defence architecture that learns continuously responds instantly and evolves relentlessly in tune with the pace of change he addednbspChief of Defence Staff General Anil Chauhan Ambassadors from friendly nations as well as civil and military officials were present on the occasion https://dailyworld.in/business/soldiers-scientists-and-startups-must-unite-to-create-new-defence-technology-rajnath-singh-648053.html Tue, 11 Nov 2025 16:13:00 +0530 https://dailyworld.in/business/indian-stock-market-continues-upward-trend-as-it-auto-stocks-lead-648065.html Mumbai Nov 11 The domestic equity indices closed at a higher note for the second consecutive day on Tuesday amid buying in IT auto metal and FMCG sectors The rally was further sustained by positive global cues as the US Senate passed a bill to end the longestever federal shutdown Sensex ended the session at 8387132 up 33597 points or 040 per cent The 30share index opened trading higher at 8367152 against the last sessions closing of 8353535 The index rose further to hit an intraday high at 8393647 buoyed by persistent buying in IT and auto stocksNifty closed at 2569495 up 120 points or 047 per centThe domestic market opened on a subdued note amid concerns over potential implications of the Delhi explosion However it recovered smartly and closed at the days high supported by global cues as the US Senate passed a bill to end the longestever federal shutdown said Vinod Nair Head of Research Geojit Investments LimitedImportantly the Q2 results season is nearing its end and is expected to conclude on a positive note driven by betterthanexpected performance by the broader market he addedBEL Adani Ports Mahindra and Mahindra HCL Tech Eternal Bharti Airtel Infosys Sun Pharma Hindustan Unilever LampT Tech Mahindra and TCS were the top gainers from the Sensex basket Bajaj Finance Bajaj FinServ and Tata Motors PV ended the session in negative territoryThe majority of sectoral indices ended the session green amid continued buying momentum Nifty IT rose 428 points or 120 per cent Nifty Auto surged 288 points or 107 per cent Nifty FMCG increased 188 points or 034 per cent and Nifty Bank jumped 200 points or 035 per centBroader indices experienced a mixed approach amid buying in midcap and selling in smallcap stocks Nifty Midcap 100 rose 302 points or 050 per cent Nifty Small Cap 100 fell 37 points or 021 per cent and Nifty 100 closed 109 points or 042 per cent IANS https://dailyworld.in/business/indian-stock-market-continues-upward-trend-as-it-auto-stocks-lead-648065.html Tue, 11 Nov 2025 16:53:00 +0530 https://dailyworld.in/business/us-firm-federal-card-services-enters-india-with-250-million-investment-create-over-1-000-jobs-648070.html Mumbai Nov 11 USbased Federal Card Services FCS on Tuesday announced its entry in India with an investment of 250 million across its three core business pillars technology real estate and services As part of this expansion the global leader in premium metal and sustainable payment cards is developing its first manufacturing facility in PuneThe new plant will produce 100 per cent metal cards and biodegradable cards marking a major milestone in Indias growing fintech manufacturing ecosystemFCS said it aims to strengthen Indias fintech supply chain and create over 1000 direct jobs integrating sustainable manufacturing practices that align with Indias Make in India and green growth visionWith Phase 1 of the 32000 sq ft facility completed FCS is now focused on equipment calibration and workforce training ahead of operations commencing in February 2026 The facility will commence with an initial capacity of 2 million cards per year scaling up to 267 million cards annuallyIndia is central to our next phase of growth globally With its strong fintech ecosystem engineering excellence and manufacturing capabilities India offers the perfect foundation for scaling sustainable innovation said Matias Gainza Eurnekian CEO Federal Card Services FCSOur investment in Pune marks the beginning of a longterm commitment to build design and payment solutions from India to the world We see India not just as a market but as a strategic hub for innovation talent and responsible manufacturing Eurnekian addedThrough this investment FCS aims to support Indias ambition to become a global hub for advanced and sustainable manufacturing The company currently works with Axis Bank VISA Mastercard and FPL Technologies OneCardThe cards produced by FCS and designed in collaboration with global innovation partners represent a revolutionary alternative to PVC plasticWith its investment in India FCS is reinforcing its global leadership in innovation sustainability and highend design in the payment solutions industry It operates across five continents and serves over 100 clients IANS https://dailyworld.in/business/us-firm-federal-card-services-enters-india-with-250-million-investment-create-over-1-000-jobs-648070.html Tue, 11 Nov 2025 17:27:00 +0530 https://dailyworld.in/business/us-firm-federal-card-services-enters-india-with-250-million-investment-to-create-over-1-000-jobs-648071.html Mumbai Nov 11 USbased Federal Card Services FCS on Tuesday announced its entry in India with an investment of 250 million across its three core business pillars technology real estate and services As part of this expansion the global leader in premium metal and sustainable payment cards is developing its first manufacturing facility in PuneThe new plant will produce 100 per cent metal cards and biodegradable cards marking a major milestone in Indias growing fintech manufacturing ecosystemFCS said it aims to strengthen Indias fintech supply chain and create over 1000 direct jobs integrating sustainable manufacturing practices that align with Indias Make in India and green growth visionWith Phase 1 of the 32000 sq ft facility completed FCS is now focused on equipment calibration and workforce training ahead of operations commencing in February 2026 The facility will commence with an initial capacity of 2 million cards per year scaling up to 267 million cards annuallyIndia is central to our next phase of growth globally With its strong fintech ecosystem engineering excellence and manufacturing capabilities India offers the perfect foundation for scaling sustainable innovation said Matias Gainza Eurnekian CEO Federal Card Services FCSOur investment in Pune marks the beginning of a longterm commitment to build design and payment solutions from India to the world We see India not just as a market but as a strategic hub for innovation talent and responsible manufacturing Eurnekian addedThrough this investment FCS aims to support Indias ambition to become a global hub for advanced and sustainable manufacturing The company currently works with Axis Bank VISA Mastercard and FPL Technologies OneCardThe cards produced by FCS and designed in collaboration with global innovation partners represent a revolutionary alternative to PVC plasticWith its investment in India FCS is reinforcing its global leadership in innovation sustainability and highend design in the payment solutions industry It operates across five continents and serves over 100 clients IANS https://dailyworld.in/business/us-firm-federal-card-services-enters-india-with-250-million-investment-to-create-over-1-000-jobs-648071.html Tue, 11 Nov 2025 17:27:00 +0530 https://dailyworld.in/business/indias-private-hospital-sector-to-almost-double-to-202-billion-by-2030-report-648073.html New Delhi Nov 11 Indias private hospital sector is projected to reach 2025 billion by 2030 from an estimated 1223 billion in 2025 driven by rising demand private investment government initiatives and technology adoption such as AI and telemedicine a report said on Tuesday India needs 24 million additional hospital beds necessitating 2 billion square feet of space to build the healthcare infrastructure the report from credit rating agency Brickwork Ratings saidThe sector recorded 72 deals worth 35 billion in Q3 2025 up 166 per cent quarteronquarter in total deal valueIn 2024 Indias hospital sector experienced significant mergers and acquisitions MampA reflecting robust investor interest and a strategic shift towards expanding healthcare services across the country the report notedThe outlook for credit ratings of the private hospital industry in India is Positive due to robust demand healthy financial performances effective risk management and robust expansion strategies by leading hospital chains said Rajeev Sharan Head of Research Brickwork RatingsThe report said that Indias medical tourism market valued at 87 billion in 2025 is set to almost double to 162 billion by 2030 driven by affordable highquality care and streamlined visa processesRanking 10th in the Medical Tourism Index India attracted 73 million foreign patients in 202324 with rising demand for specialised treatments and strong international partnerships boosting growthLeading hospitals reported a rise in ARPOB average revenue per occupied bed which now ranges from about Rs 38000 to over Rs 74000 per bed per day the report saidARPOB is expected to grow in the coming years on account of improving speciality and payer mix and rising demand for highvalue procedures it addedFurther it predicted that the average length of stay ALOS is expected to remain low at around 34 days through 2030 leading to better bed utilisation Low ALOS is driven by ongoing operational improvements technological upgrades and faster patient throughput IANS https://dailyworld.in/business/indias-private-hospital-sector-to-almost-double-to-202-billion-by-2030-report-648073.html Tue, 11 Nov 2025 17:29:00 +0530 https://dailyworld.in/business/uidai-to-use-behavioural-insights-to-boost-adoption-of-mbu-among-kids-648102.html New Delhi Nov 11 The Unique Identification Authority of India UIDAI on Tuesday said it will use behavioural insights to enhance adoption of Mandatory Biometric Update MBU after waiving all charges for MBU in Aadhaar for children Towards this UIDAI has partnered with research consultancy Behavioural Insights Limited BIT to help children and youngsters access vital services through the timely updation of biometric in their AadhaarThe MoU aims to increase MBU in Aadhaar for 5 year and 15yearold and to address behavioural logistical and awarenessrelated barriers to ensure timely updates enabling seamless access to services and benefits linked to AadhaarTailored behavioural interventions will be designed tested and implemented to encourage Aadhaar MBU updates said IT MinistryBhuvnesh Kumar CEO of UIDAI said When technology is aligned with human behaviour digital identity evolves from a purely technical process into a more seamless trustworthy and empowering experience Through this MoU we hope to achieve this effectRachel Coyle CEO of BIT underlined that a new evidencebased understanding of human behaviour can boost updates of Aadhaar and help Aadhaar number holders get access to crucial public servicesOnce enrolled in Aadhaar a child needs to update biometric fingerprint iris and photo on attaining the age of 5 and then again on attaining the age of 15 yearsUIDAI has been making continuous efforts to enhance MBU adoption among the target groupsIn a propeople measure UIDAI has waived off all charges for MBU for the 715 age group which is expected to benefit around 6 crore childrenThe waiver of MBU charges for the said age group has already kicked in effective October 1 2025 and will be in force for a period of one year IANS https://dailyworld.in/business/uidai-to-use-behavioural-insights-to-boost-adoption-of-mbu-among-kids-648102.html Tue, 11 Nov 2025 19:37:00 +0530 https://dailyworld.in/business/godrej-industries-q2-profit-falls-16-pc-to-rs-242-crore-revenue-up-648120.html Mumbai Nov 11 Godrej Industries Limited GIL on Tuesday reported nearly 16 per cent yearonyear YoY decline in its net profit attributed to owners for the second quarter of the current fiscal Q2 FY26 at Rs 2424 crore The company had posted a profit of Rs 288 crore to its owners in the same quarter last year Q2 FY26 As per the companys exchange filing its profit fell nearly 31 per cent sequentially to Rs 349 croreHowever the companys revenue from operations for the quarter under review increased 47 per cent YoY to Rs 5032 crore compared to Rs 4804 crore in the corresponding period of the previous fiscalDespite the uptick in revenue operational performance came under heavy pressure as the total expenses of the conglomerate for the period rose over 16 per cent to Rs 560286 crore YoY from Rs 481508 croreThe performances of Godrejs businesses vary this quarter With revenue of Rs 1950 crore the Real Estate amp Property Development division was the largest contributor while the Animal Feed business came in second with revenue of Rs 1217 crore followed by the Chemicals segment with Rs 1059 croreDuring the quarter the Group has acquired control of one of its joint ventures and divested a 25 per cent equity stake in Vivrut Developers Private Limited VDPL a joint venture through Godrej Properties Limited a subsidiary company resulting in a gain of Rs 535 crore recognised under Other Income the company said in its exchange filingAdditionally the group had sold a 25 per cent equity stake held by it in Madhuvan Enterprises Private Limited MEPLMeanwhile the shares of Godrej Industries ended the session slightly up on Tuesday The stock closed at Rs 10650 up 041 per cent This year till date the scrip slipped over 8 per cent IANS https://dailyworld.in/business/godrej-industries-q2-profit-falls-16-pc-to-rs-242-crore-revenue-up-648120.html Tue, 11 Nov 2025 20:39:00 +0530 https://dailyworld.in/business/indias-net-direct-tax-collections-rise-7-pc-to-rs-1292-lakh-crore-in-current-fiscal-648130.html New Delhi Nov 11 Indiaâs net direct tax collections recorded a 7 per cent growth to Rs 1292 lakh crore between April 1 and November 10 of the current financial year compared to the same period of the previous financial year according to official figures released on Tuesday Refunds issued during the 7month period worked out to Rs 242 lakh crore which is 18 per cent lower than the corresponding period of the previous yearNet corporate tax collections stood at around Rs 537 lakh crore up from Rs 508 lakh crore in the same period of the financial year 202425Noncorporate tax receipts which include personal income tax from individuals and Hindu Undivided Families HUFs went up to Rs 719 lakh crore from Rs 662 lakh crore a year agoSecurities Transaction Tax STT collections however were marginally lower at Rs 35682 crore compared with Rs 35923 crore in the same period last yearGross direct tax collections before refunds were estimated at Rs 1535 lakh crore which represents a 215 per cent increase over the corresponding figure of Rs 1503 lakh crore for the same period of the previous financial yearOverall net direct tax collections comprising personal income tax and corporate tax increased to Rs 1292 lakh crore in the current financial year so far from Rs 1208 lakh in the corresponding period of the previous yearThe government has set a target of Rs 2520 lakh crore in direct tax collections representing a 127 per cent increase over the previous yearFinance Minister Nirmala Sitharaman had announced significant income tax relief measures to put more money in the hands of the middleclass to increase the demand for goods and services in the economy to spur growth For individuals in the new tax regime salaried taxpayers can have an income of up to Rs 1275 lakh with zero tax liability due to an increased standard deduction of Rs 75000The limits for Tax Deducted at Source TDS have also been raised for various sections such as on interest for senior citizens to Rs 1 lakh from Rs 50000 and on rent to Rs 6 lakh annually from Rs 240 lakh IANS https://dailyworld.in/business/indias-net-direct-tax-collections-rise-7-pc-to-rs-1292-lakh-crore-in-current-fiscal-648130.html Tue, 11 Nov 2025 22:38:00 +0530 https://dailyworld.in/business/bse-q2-profit-surges-61-pc-to-rs-558-crore-revenue-up-44-pc-648135.html New Delhi Nov 11 BSE Ltd on Monday reported a 61 per cent yearonyear YoY rise in consolidated net profit to Rs 55802 crore for the second quarter of the current financial year Q2 FY26 The company had posted a profit of Rs 34647 crore in the same quarter last yearThe exchangeâs revenue from operations for the quarter under review jumped 44 per cent to Rs 106839 crore from Rs 74073 crore in the yearago period driven by higher transaction income and strong performance across trading and corporate servicesOn a sequential basis BSEâs profit after tax grew 35 per cent from Rs 539 crore in the AprilâJune quarter Q1FY26 while revenue was up 12 per cent from Rs 95795 croreThe company said its key growth drivers during the quarter were its trading segments mutual fund platform and corporate servicesBSEâs EBITDA surged 78 per cent yearonyear to Rs 691 crore with the EBITDA margin improving to 647 per cent from 524 per cent in Q2FY25On Tuesday shares of BSE Ltd closed 068 per cent higher at Rs 264310 apiece on the NSE following the announcement of its quarterly resultsMeanwhile due to purchases in the FMCG auto metal and IT sectors the domestic equity indices ended Tuesdays trading session higher for the second day in a row Positive signals from around the world such as the US Senate passing a bill to end the longest federal shutdown ever helped to further support the rallyThe session ended with the Sensex up 33597 points or 040 per cent at 8387132 The 30share index opened trading higher at 8367152 against the last sessions closing of 8353535 The index rose further to hit an intraday high at 8393647 buoyed by persistent buying in IT and auto stocksNifty closed at 2569495 up 120 points or 047 per cent IANS https://dailyworld.in/business/bse-q2-profit-surges-61-pc-to-rs-558-crore-revenue-up-44-pc-648135.html Tue, 11 Nov 2025 22:43:00 +0530 https://dailyworld.in/business/chhattisgarh-attracted-rs-75-lakh-crore-investment-proposals-in-10-months-cm-vishnudeo-sai-648142.html New Delhi Nov 11 Chhattisgarh Chief Minister Vishnudeo Sai on Tuesday said that the state has received investment proposals worth about Rs 75 lakh crore within just 10 months of introducing its new industrial policy Addressing the media after the Chhattisgarh Investor Connect event held in Ahmedabad Sai said the new policy has created a favourable environment for industries and investors alikeâThe Chhattisgarh Investor Connect was organised in the holy land of Ahmedabad We have introduced a new industrial policy in our state which is proving to be very effective Investment proposals worth approximately Rs 75 lakh crore have been received in 10 monthsâ he saidSai added that memorandums of understanding MoUs were signed with around eight companies during the event bringing in fresh investment proposals worth Rs 33000 croreâEntrepreneurs from Gujarat have shown great interest Chhattisgarh offers abundant resourcesâcoal electricity water and skilled manpowerâwhich make it an ideal destination for industriesâ he said welcoming the prospective investorsThe Chief Minister also shared updates from the event on the social media platform XHe said he met Devanshu Gandhi Managing Director of the Vadilal Group to explore opportunities in the food processing sector with plans to set up a unit manufacturing ice cream frozen foods and other processed food products in the stateIn another post Sai mentioned his meeting with Jinal Mehta Vice President of the Torrent Group who appreciated Chhattisgarhâs investmentfriendly ecosystem and proposed investments worth Rs 22900 crore in the power sector and Rs 200 crore in the pharmaceutical sectorMeanwhile Vishnudeo Sai also participated in the Bharat Parv celebrations at Ekta Nagar in Kevadia Gujarat marking the 150th birth anniversary of Sardar Vallabhbhai PatelâBharat Parv is being celebrated on this occasion with participation from states across the country Chhattisgarhâs pavilion showcased our culture textiles and cuisineâ he saidThe Chief Minister said the growing investor confidence reflects Chhattisgarhâs emergence as a major industrial hub in central India driven by its proactive policies and resourcerich landscape IANS https://dailyworld.in/business/chhattisgarh-attracted-rs-75-lakh-crore-investment-proposals-in-10-months-cm-vishnudeo-sai-648142.html Tue, 11 Nov 2025 23:48:00 +0530 https://dailyworld.in/business/adani-enterprises-board-approves-rights-issue-to-raise-rs-24-930-crore-at-24-pc-discount-648146.html Ahmedabad Nov 11 The board of Adani Enterprises Limited AEL on Tuesday approved a partly paidup rights issue to raise Rs 24930 crore at a price of Rs 1800 per rights equity share representing a 24 per cent discount to the market in a bid to bolster its next growth phase The board has approved the issuance of 1385 crore partly paidup equity shares to existing shareholders aiming to further strengthen its capital structureThe rights issue price has been set at Rs 1800 per share representing a 24 per cent discount to Adani Enterprisesâ closing price of Rs 23702 on TuesdayNovember 17 is the record date for determining eligible shareholders said the flagship company of the Adani Group in an exchange filingThe company plans to issue 138501687 new shares potentially increasing its outstanding equity shares by 12 per cent to 1292682416âThe Rights Equity Shares are being offered on a rights basis to Eligible Equity Shareholders in the ratio of 3 Rights Equity Shares for every 25 fully paidup Equity Shares held on the record dateâ AEL said in its filingAccording to the company the rights issue is aimed at âstrengthening its balance sheet further to support the next phase of incubationâ as its core infrastructure businesses scale and contribute a growing share to earningsAEL reported robust results for the JulySeptember quarter and the first six months of the current fiscal FY26 clocking an impressive 84 per cent increase in Q2 net profit at Rs 3199 croreConsolidated EBITDA stood at Rs 7688 crore in H1 FY26 while consolidated profit before tax PBT came at Rs 2281 crore the company said in an exchange filingThe emerging core infra businesses have recorded halfyearly EBITDA of Rs 5470 crore with an increase of 5 per cent on a yearonyear basis and now contribute 71 per cent to total EBITDA it informed IANS https://dailyworld.in/business/adani-enterprises-board-approves-rights-issue-to-raise-rs-24-930-crore-at-24-pc-discount-648146.html Tue, 11 Nov 2025 23:53:00 +0530 https://dailyworld.in/business/all-passengers-safe-says-spicejet-after-flight-makes-emergency-landing-647784.html New Delhi Nov 10 A SpiceJet flight from Mumbai to Kolkata made an emergency landing due to failure in one of its engines according to Kolkata Airport officials The airline said in a statement on Monday that all passengers and crew members are safe On November 9 SpiceJet flight SG 670 operating from Mumbai to Kolkata experienced a technical issue during descent at Kolkata airport The aircraft landed safely and all passengers and crew deplaned normally according to a statement from a SpiceJet spokesperson The full emergency was lifted at 1138 pmOn September 12 a SpiceJet Q400 flight from Gujarats Kandla airport to Mumbai made a similar emergency landing at Chhatrapati Shivaji Maharaj International Airport CSMIA after an outer wheel was found on the runway following takeoff The plane landed safely with all passengers and crew unharmedMeanwhile several airlines including Air India IndiGo and SpiceJet alerted passengers of delays due to a malfunction in the Air Traffic Control system at Indira Gandhi International Airport in Delhi resulting in several delayed flightsAirlines such as Air India IndiGo and SpiceJet urged passengers to check their flight status before departure to the airport and confirmed that staff were available to assist travellers to reduce inconvenienceThe technical issue was resolved and the flight operations are now normal according to airport officialsSpiceJet slipped into losses during the AprilJune quarter reporting a consolidated net loss of Rs 234 croreThis is a sharp reversal from the net profit of Rs 15818 crore it had posted in the same quarter previous yearSpiceJets revenue from operations also dropped nearly 36 per cent yearonyear YoY which it attributed to geopolitical tensions with a neighbouring country and restrictions in international airspace which hit demand for leisure travelIt also faced delays in bringing grounded aircraft back into service due to global supply chain issues and engine maintenance problems IANS https://dailyworld.in/business/all-passengers-safe-says-spicejet-after-flight-makes-emergency-landing-647784.html Mon, 10 Nov 2025 10:38:00 +0530 https://dailyworld.in/business/gold-and-silver-prices-up-by-2-pc-over-positive-global-cues-647789.html New Delhi Nov 10 Gold and silver prices went up on Monday driven by positive global cues and the possibility of the US Fed lowering interest rates next month At around 10 am on the Multi Commodity Exchange MCX the price of the December 5 2025 contract for gold rose 116 per cent to Rs 122468 per 10 grams and the price of the December 5 2025 contract for silver rose 199 per cent to Rs 150666 per kgGold prices fell after reaching a record high in October However the fresh momentum in the yellow metal is being driven by growing concerns about the health of the US economy and the possibility of an interest rate cut next monthAccording to Rahul Kalantri Vice President of Commodities at Mehta Equities prices were highly volatile throughout the week but managed to recover from lower levels after weak US consumer sentiment figures and uncertainty over when the US government shutdown will endThe shutdown has entered a record duration increasing concerns about the broader US economic outlook prompting renewed safehaven demand he mentionedGold and silver also saw gains in the international markets Gold was up 132 per cent at 4062 per ounce on Comex and silver up 232 percent at 4926 per ounceMarket watchers further stated that the dollar index softened as well lending additional support to bullion prices Gold has support at 39553920 while resistance at 40404065 Silver has support at 47804745 while resistance is at 48554885In Indian rupee gold has support at Rs 120450119880 while resistance at Rs 121790122400 Silver has support at Rs 146850145900 while resistance at Rs 148840 149780Additionally WTI crude regained momentum on Monday rising past 60 per barrel as traders awaited fresh insight from OPEC and the IEAHowever the broader picture remains mixed OPEC a coalition of 22 oilexporting countries is easing production limits US producers are ramping up output and expectations of a looming supply surplus continue to weigh on confidence IANS https://dailyworld.in/business/gold-and-silver-prices-up-by-2-pc-over-positive-global-cues-647789.html Mon, 10 Nov 2025 11:00:00 +0530 https://dailyworld.in/business/demat-accounts-opened-in-october-touch-10-month-high-data-647794.html Mumbai Nov 10 New demat accounts opened in October exceeded 30 lakh marking a 10month high and a 22 per cent increase from 246 lakh in September data from depositories showed Analysts attributed the surge to a rebound in equity markets return of foreign fund inflows and flood of initial public offerings IPO that has heightened investor interest Total demat accounts reached a record 21 crore up from 207 crore the previous monthIn October Indias primary market saw a record number of mainboard IPOs with 10 offerings aiming to raise over Rs 44930 crore marking the largest monthly fundraising target in the countrys capitalmarket historyAnalysts also attributed the spike to robust market conditions across broader indices Equity benchmarks Sensex and Nifty rose in October approximately 3 per cent while the BSE Midcap and Smallcap indices gained 4 per cent and 3 per cent respectivelyForeign institutional investors who had been net sellers for several months turned buyers and invested around 16 billion in domestic equitiesThe domestic stock market is expected to remain sideways to a consolidating phase as the equity indices show mild selling pressure at a higher level in the weekly chartOn the domestic front investors will be focused on Indias CPI and WPI inflation figures this week which are expected to shed light on the inflation trend and future policy directionGlobal investment bank Goldman Sachs GS has turned bullish on India upgrading its rating on Indian equities to Overweight and setting a Nifty target of 29000 by end2026 implying a potential 14 per cent upside from current levelsGoldman Sachs said recent trends suggest a turnaround in sentiment as valuations have cooled and foreign risk appetite improvesThe investment bank said growth will be supported by the Reserve Bank of Indias easing measures including rate cuts improved liquidity and bank deregulation along with GST reductions and slower fiscal consolidation IANS https://dailyworld.in/business/demat-accounts-opened-in-october-touch-10-month-high-data-647794.html Mon, 10 Nov 2025 11:40:00 +0530 https://dailyworld.in/business/lenskart-shares-make-muted-debut-slips-nearly-9-pc-to-days-low-of-rs-355-647823.html Mumbai Nov 10 Eyewear retailer Lenskart Solutions Ltd made a tepid debut on stock exchanges on Monday despite strong investor interest in its Rs 7278 crore initial public offering IPO The companys shares were listed at Rs 390 apiece on the BSE a discount of about 3 per cent to its issue price of Rs 402 while opening slightly higher at Rs 395 on the NSE Soon after listing the stock slipped to an intraday low of Rs 35570 down over 9 per cent from the issue price However it later recovered sharply in afternoon trade climbing over 15 per cent from the days low to hit an intraday high of Rs 41380At around 2 pm the Lenkarts shares were trading flat to their IPO price The stock was trading at Rs 40455 up 06 per cent from the listing price Meanwhile domestic equity indices were trading in positive territory Sensex was at 8363053 up 414 points or 05 per cent and Nifty was at 2561585 up 122 points or 048 per centThe IPO had been among the most keenly watched this year and witnessed robust demand being subscribed 28 times overall Investors bid for 28188 crore shares against the 997 crore shares on offer according to exchange dataThe Qualified Institutional Buyers QIB segment drove the response subscribing 4035 times the shares reserved for them while noninstitutional investors NIIs subscribed 1823 timesRetail participation was also strong despite the relatively high price band of Rs 382Rs 402 per shareThe public offer comprised a fresh issue of shares worth Rs 215074 crore and an offer for sale OFS of Rs 512802 croreThe muted debut reflected cooling sentiment in the grey market where the premium had slipped to about 2 per cent ahead of listing indicating expectations of only a marginal upside Despite the soft start Lenskarts quick recovery in afternoon trade hinted at continued investor interest in the fastgrowing eyewear brand IANS https://dailyworld.in/business/lenskart-shares-make-muted-debut-slips-nearly-9-pc-to-days-low-of-rs-355-647823.html Mon, 10 Nov 2025 14:52:00 +0530 https://dailyworld.in/business/premium-hotel-occupancies-in-india-to-grow-5-6-pc-in-fy26-fy28-demand-to-outpace-supply-647864.html New Delhi Nov 10 India is likely to see a compound annual growth rate CAGR of 56 per cent in premium hotel room additions between FY25 and FY28 as demand is expected to grow at a faster pace of 810 per cent according to a report on Monday As a result occupancies across premium hotels are projected to improve by 200 bps to 7274 per cent and average room rents ARRs to Rs 82008500 in FY26 36 per cent higher over the previous year said rating agency ICRA in its report maintaining a Stable outlook on the Indian hospitality industryIndias annual premium hotel room inventory across 12 major cities crossed the 1 lakh mark in FY2023 and is slated to cross 12 lakh keys in the next fiscal said Srikumar Krishnamurthy Senior Vice President and CoGroup HeadCorporate Ratings ICRAHowever demand growth is expected to continue to outpace the supply addition at least over the next three yearsICRA expects the premium room inventory across these cities to grow at a CAGR of 56 per cent over FY25FY28 while demand is expected to augment in the range of 810 per cent in this periodThe premium hotel key additions are democratised in this cycle across tier 1 and tier 23 cities given the increased acceptance of the latter among travellers and space and land constraints in the formerWith three years of doubledigit revenue expansion over FY2023 to FY2025 and the growth momentum continuing in the current fiscal the Indian hospitality industry has fared well in recent yearsBuoyed by the strong demand sentiments and the improved earnings profile of hospitality players the sector continues to see investments for supply additions and room upgradations to encash on the opportunities the report mentionedCertain pockets within the hospitality segment such as airport hotels and spiritual tourism have garnered healthy interest over recent years with 20002500 premium keys in the pipeline in each of these segments which is estimated at around 1015 per cent of the total premium supply pipeline IANS https://dailyworld.in/business/premium-hotel-occupancies-in-india-to-grow-5-6-pc-in-fy26-fy28-demand-to-outpace-supply-647864.html Mon, 10 Nov 2025 16:59:00 +0530 https://dailyworld.in/business/private-capex-boosts-indias-mediumterm-growth-25-bps-repo-cut-likely-report-647865.html New Delhi Nov 10 Indias mediumterm growth outlook remains constructive with improving private capital expenditure and resilient consumption which supported a strong recovery in equities in October a report said on Monday Nifty valuations are modestly above the 10year average we remain constructive on Indian equities the report from HSBC Mutual Fund saidIn debt markets the HSBC fund house said the 24 year corporate bond segment offers attractive opportunities adding that inflation outlook and growth uncertainty raise the odds of a 25 bps rate cut on December 5Regarding equities the report said The growth cycle may be bottoming out Interest rate and liquidity cycles decline in crude prices and a normal monsoon support a pickup in growthThe mutual fund said that the GST rate cut and prior income tax cuts should boost private consumption and support private capex amid global uncertaintyGovernment investment manufacturing push and a real estate recovery should sustain mediumterm investment momentum it addedIndian equities recovered strongly in October with Sensex and Nifty up over 4 per cent aided by FII inflows and improved domestic sentimentThe NSE Midcap index rose 48 per cent and the BSE Smallcap index gained 32 per centReal estate led sectoral performance while oil amp gas metals banks and IT outperformed the Nifty even as healthcare power FMCG and autos underperformedThe upcoming macro prints such as November CPI inflation trade deficit GDP and GST collections will be closely watched by the central bank for its rate guidanceThe report noted tight liquidity despite RBI foreignexchange interventions adding that markets expect liquidity infusion via open market purchase OMO purchases IANS https://dailyworld.in/business/private-capex-boosts-indias-mediumterm-growth-25-bps-repo-cut-likely-report-647865.html Mon, 10 Nov 2025 17:01:00 +0530 https://dailyworld.in/business/human-development-indicators-continue-to-worsen-in-pakistan-undp-647879.html New Delhi Nov 10 Representatives of the UNDP IMF and World Bank have painted a grim picture of Pakistans economy as the human development indicators continue to worsen amid weak governance in a country that is surviving on bailouts from multilateral agencies such as the latter two The United Nations Development Programmes Resident Representative Dr Samuel Rizk said last week that there are two tales of Pakistans story as on one side there is macroeconomic stability but on the other hand the social and human development indicators are worsening and posing serious challenges according to an Islamabaddatelined report in The News InternationalHe said that Pakistan was receiving 14 billion from all multilateral agencies including the IMF World Bank ADB and others including the IFC on a per annum basis but its requirement stood at 15 to 17 per cent of GDP having an annual estimated requirement of 50 billion for achieving sustainable development goals This cannot materialise without the coblending of financing needs he addedHe also highlighted that the EU delegation would soon be visiting Pakistan to review the GSP whereby Pakistan would have to show compliance with 27 conventions the report saidGSP is a special incentive arrangement under the EUs Generalised Scheme of Preferences GSP that grants developing countries zero customs duties on over twothirds of their exports to the EU To qualify a country must be vulnerable have limited export diversification and demonstrate a commitment to sustainable development and good governance by ratifying and implementing 27 international conventions on human rights labour rights environment and good governanceIndia has been highlighting that Pakistan has been flouting these conditions but yet the EU is continuing with the GSP status for the countryThe IMFs Resident Representative in Pakistan Chief Mahir Binc highlighted Pakistans weak energy sector poor institutional reforms weak governance low exports an unfriendly business climate and a narrow tax base as serious challenges holding back economic stability and growth according to The News International ReportHe stated that Pakistan was facing challenges of revenue mobilisation and energy sector losses which are hampering growth in exports He said that the IMF wanted to have fiscal and export buffers by the end of the ongoing Extended Fund Facility EFF and Resilience Sustainability Fund RSF programmes by 2027 The taxtoGDP ratio he said should have gone up to 15 per cent in accordance with the IMF assessment but it might go up to 13 per cent by 2027The World Banks Country Director for Pakistan Bolormaa Amgabazar stated that Pakistan was losing 20 per cent of its GDP by 2030 mainly because of climate change and natural disasters She said that if Bangladesh could curb population growth why was Pakistan lagging She also highlighted stunting standing at 40 per cent among children in Pakistan causing an increased number of learning povertyAccording to the World Bank climate shocks will continue to hit Pakistan if action is delayed as the country is already facing aftershocks of environmental disasters She cited the example of Lahore where air pollution has become hazardous for human life IANS https://dailyworld.in/business/human-development-indicators-continue-to-worsen-in-pakistan-undp-647879.html Mon, 10 Nov 2025 17:46:00 +0530 https://dailyworld.in/business/over-1-760-gccs-in-india-fast-becoming-frontlines-of-enterprise-transformation-nasscom-647880.html New Delhi Nov 10 More than 1760 Global Capability Centres GCCs in India are no longer the backoffice engines of the world but are fast becoming the frontlines of enterprise transformation a Nasscom report said on Monday Employing nearly 19 million professionals GCCs in the country power the digital backbone of almost half of the Fortune 500Nearly 70 per cent of all new GCCs set up across Asia are choosing India not just for its talent density but for its growing ecosystem of deeptech capability serviceprovider partnerships and designled thinking according to the report by Nasscom developed with Oliver Wyman and R SystemsThe GCC model is entering a pivotal phase demanding deep partnerships and rapid movement to leverage these centers as primary engines of innovation resilience and enterprise value For India the next decade of global digital progress will be built on partnership models architected in India where GCCs and service providers jointly define how enterprises grow innovate and compete the findings showedThe report identifies a new operating construct for the NextGen GCCs that is built on strategic partnerships between headquarters GCCs and tech service providersThese are integrated ecosystems where partners jointly cocreate run and scale capabilities Flexible models such as BuildOperateTransferManage BOX Joint Ventures Modern Talent Augmentation and CoInnovation Partnerships are reshaping how enterprises accelerate transformation at speed and scaleThis evolution reflects a global shift in enterprise expectation GCCs must now own innovation pipelines drive PampL impact and create autonomous value that keeps pace with AInative disruptionTo effectively navigate this evolving landscape the report outlines five building blocks for success a shared enterprise vision operating excellence resilient governance magnetic talent and technologyled innovationFor Service Providers the imperative is deeper play and more adaptability requiring investment in specialized talent defining a forward value proposition and tweaking operating models ultimately transitioning to lifecycle partners delivering measurable business impact the report noted IANS https://dailyworld.in/business/over-1-760-gccs-in-india-fast-becoming-frontlines-of-enterprise-transformation-nasscom-647880.html Mon, 10 Nov 2025 17:46:00 +0530 https://dailyworld.in/business/jharkhand-robbery-and-firing-on-trader-sparks-shutdown-in-dhanbad-market-647886.html Dhanbad Nov 10 Traders on Monday launched a massive protest after a businessman was robbed and shot at inside the governmentrun Market Committee complex in the Barwadda police station area in Dhanbad Jharkhand late Sunday evening The incident has caused concerns over rising crime in Jharkhands coal capital prompting traders to shut all 417 shops in the market complex for the dayThe attack took place around 830 pm on Sunday when three bikeborne assailants intercepted trader Shyam Bhimsariya while he was closing his shopThe miscreants fired at him snatched a bag containing Rs 4 lakh and sped off Bhimsariya narrowly escaped the bullet which reportedly grazed past him The incident created panic among shopkeepers and customers many of whom rushed to safetyOn Monday morning hundreds of traders assembled at the main gate of the Market Committee complex raising slogans against the administration and demanding immediate arrests They alleged that the market which witnesses a heavy footfall has long been operating without proper security measuresThe Market Committee complex is one of the busiest business hubs in Dhanbad recording a daily turnover of Rs 78 croreWe will not tolerate this kind of atmosphere where traders fear for their lives every evening a member of the traders association said adding that if the culprits are not arrested within 48 hours the protest may spread to other markets across the districtBJP MP Dhullu Mahto addressing traders said criminals are roaming fearlessly in Dhanbad The morale of criminals has gone up due to weak policing The police must act immediately to restore confidence among traders he saidJharia Congress MLA Ragini Singh accused the state government of complete failure on the law and order front When crime is discussed in the Assembly the government remains silent People are living in fear while criminals are dictating terms she remarkedOutgoing Mayor Chandrashekhar Agarwal demanded urgent security measures in the market area suggesting that CCTV cameras be installed He said a permanent police post must be established to prevent the recurrence of such incidentsDhanbad District Chamber of Commerce president Chetan Goenka strongly condemned the attack and criticised authorities for ignoring repeated requests for better securityIt is shocking that a market with a daily business of Rs 78 crore has neither CCTV surveillance nor police patrolling Traders cannot operate under fear The administration must take permanent measures Goenka said IANS https://dailyworld.in/business/jharkhand-robbery-and-firing-on-trader-sparks-shutdown-in-dhanbad-market-647886.html Mon, 10 Nov 2025 17:53:00 +0530 https://dailyworld.in/business/need-to-bridge-gap-between-loan-sanctions-actual-disbursements-haryana-chief-secy-tells-bankers-647892.html Chandigarh Nov 10 Haryana Chief Secretary Anurag Rastogi on Monday stressed the need to bridge the gap between loan sanctions and actual disbursements to beneficiaries government officials said Chairing the 174th statelevel bankers Committee meeting here Rastogi urged banks to revisit policies and ensure timely and adequate credit flow reaches farmersThe meeting brought together senior officials from various banks government departments and financial institutions to assess the states banking performance across multiple parametersThe Chief Secretary appreciated the collaborative efforts of banks and government departments in promoting financial inclusion and supporting MSMEs but emphasised that continued coordination between banks and district administrations remains essential for ensuring lastmile delivery of credit and financial services especially in rural and aspirational blocksRastogi sought information from all banks regarding unclaimed government deposits and directed that a comprehensive report be submitted to the Commissioner and Secretary FinanceThe meeting revealed encouraging progress on the financial awareness front with campaigns titled Your Money Your Right successfully activating more than 825 dormant accounts restoring Rs 28769 lakh to rightful beneficiariesThis initiative has gained significant traction in reconnecting citizens with their forgotten depositsOn the financial performance front data presented at the meeting showed Haryanas banking sector continues its strong growth trajectoryThe total deposits stood at Rs 868918 crore while advances reached Rs 769537 crore as of September 2025The state recorded impressive yearonyear growth of 1248 per cent in deposits and 1436 per cent in advances reflecting robust economic activity and improved credit outreach across sectorsThe creditdeposit CD ratio improved from 87 to 89 per cent surpassing the national benchmark of 60 per centNotably all districts in Haryana achieved CD ratios above the national goal indicating widespread and balanced credit penetration throughout the stateHaryanas banking network has expanded to 5582 branches marking a net addition of 230 branches during the yearPublic sector banks account for 2733 branches private sector banks operate 1941 branches small finance banks have 218 branches and Haryana Gramin Bank maintains 690 branches across the state IANS https://dailyworld.in/business/need-to-bridge-gap-between-loan-sanctions-actual-disbursements-haryana-chief-secy-tells-bankers-647892.html Mon, 10 Nov 2025 18:37:00 +0530 https://dailyworld.in/business/pm-modis-visit-to-bolster-india-bhutan-trade-and-investment-ties-647893.html New Delhi Nov 10 Prime Minister Narendra Modis visit to Bhutan scheduled from November 11 to 12 will aim at strengthening Indias trade and investment ties with the Himalayan Kingdom Indias unique trade relations with Bhutan are governed by the 2007 IndiaBhutan Friendship Treaty and the 2016 IndiaBhutan Agreement on Trade Commerce and Transit which establishes a free trade regime between the two countries and also provides Bhutan duty free transit of goods to and from third countriesIndia has consistently been Bhutans top trading partner both as an import source and as an export destination Indias share of Bhutans total trade grew from 7917 per cent in 2023 to 7988 per cent in 2024In value terms in 2024 JanuaryDecember Indias bilateral trade with Bhutan was Rs 12669 crore of which Indias exports to Bhutan amounted to Rs 9538 crore and Indias imports from Bhutan were Rs 3131 croreIndia has provided special exemption from any restrictions or prohibitions on export of essential commodities to Bhutan At the request of Bhutan a number of trade points routes have been approved for facilitating Bhutans exports to India and also to third countries Recently a B2B agreement for supply of various fertilisers to Bhutan was signedFurther enhancing connectivity between the two countries is a priority for both the countries This includes establishing crossborder rail links strengthening road connectivity establishing Integrated Check Posts and trade routes new immigration points multimodal trade routes and digital connectivityOn September 29 2025 an intergovernmental MoU for the establishment of railway links between India and Bhutan was signed in New Delhi Under the MoU two rail links KokrajharGelephu 69 km and BanarhatSamtse 20 km will be implemented with a total estimated cost of Rs 403334 croreTo facilitate the movement of people including third country nationals an Immigration Check Post was inaugurated at Darranga Assam on November 7 2024 The Jogigopha Inland Waterway Terminal inaugurated in January 2025 in presence of the Minister of Industry Commerce and Employment of Bhutan will further enhance regional trade connectivityThe two countries also enjoy longstanding and mutuallybeneficial cooperation in the hydropower sector Till date India has jointly developed five major hydroelectric projects HEPs in Bhutan totaling 3156 MW including 336 MW Chukha HEP 60 MW Kurichhu HEP 1020 MW Tala HEP 720 MW Mangdechhu HEP and the recently completed August 2025 1020 MW PunatsangchhuII HEPA 1200 MW PunatsangchhuI HEP is under construction India has also been facilitating market access for Bhutans power sale in India such as Basochhu and Nikachhu HEPs to trade their energy in Indian Energy Exchange IEXSpace cooperation is a new area of bilateral cooperation In 2019 Prime Minister Modi and then Prime Minister Dr Lotay Tshering jointly inaugurated the Ground Earth Station of the South Asia Satellite in Thimphu Subsequently the two sides jointly developed the IndiaBhutan SAT which was launched on November 26 2022 by ISRO The Indian government has been extending capacity building opportunities to Bhutanese engineers in the space sectorFintech is another domain of collaboration between India and Bhutan The RuPay Card was launched in Bhutan in two phases Phase I 2019 and PhaseII 2020 to enable crossborder payments using RuPay cards In 2021 Indias BHIM UPI application was launched in Bhutan The usage of the RuPay cards and BHIM UPI has increased since their launchIndia has also supported Bhutans initiatives such as the Gyalsung National Service Programme one year mandatory training for all Bhutanese youth attaining the age of 18 years New Delhi extended grant assistance of Rs 200 Crore to the Gyalsung Project and through a concessionary loan of Rs 1500 crore to build the infrastructure for the Gyalsung academies The two sides have also been engaged in training programmes for GyalsungBesides India has conveyed full support to Bhutans Gelephu Mindfulness City project GMC which is an initiative of the King of Bhutan IANS https://dailyworld.in/business/pm-modis-visit-to-bolster-india-bhutan-trade-and-investment-ties-647893.html Mon, 10 Nov 2025 18:38:00 +0530 https://dailyworld.in/business/indias-unemployment-rate-declines-to-52-per-cent-in-july-september-quarter-647895.html New Delhi Nov 10 The unemployment rate UR in India among persons of age 15 years and above declined to 52 per cent in JulySeptember this year from 54 per cent in the previous quarter of AprilJune according to data released by the Ministry of Statistics on Monday The share of rural employment in the agriculture sector rose from 535 per cent to 577 per cent during JulySeptember due to Kharif agricultural operations the official statement saidThe share of workers engaged in the urban tertiary sector also increased to 62 per cent during JulySeptember from 617 per cent in the previous quarter reflecting a higher level of employmentSelfemployed workers in rural areas witnessed a notable rise to 628 per cent during JulySeptember from 607 per cent in the preceding quarter of AprilJune the statement saidUrban areas recorded a modest improvement for regular wage employees to 498 per cent during the JulySeptember quarter from 494 per cent in the previous quarterThe female workerpopulation ratio WPR recorded an increase across all sectors rural urban and overall during JulySeptember this year compared to the previous AprilJune quarter reflecting a rise in employment official figures showedFemale participation in the labour force which is another indicator of employment also witnessed an increase to 337 per cent in JulySeptember from 334 per cent in AprilJuneThe overall Labour Force Participation Rate LFPR which reflects the level of employment increased to 551 per cent during JulySeptember 2025 compared to 55 per cent in the previous quarter for persons of age 15 years and aboveFemale participation in the labour force witnessed an increase to 337 per cent in JulySeptember 2025 from 334 per cent in AprilJune 2025The Worker Population Ratio WPR for persons aged 15 years and above exhibited a marginal increase from 52 per cent in AprilJune to 522 per cent in JulySeptemberThe increasing trend in the LFPR indicating a rise in employment continued for the third month in a row with the overall participation rate touching a 5month high of 553 per cent in September IANS https://dailyworld.in/business/indias-unemployment-rate-declines-to-52-per-cent-in-july-september-quarter-647895.html Mon, 10 Nov 2025 18:40:00 +0530 https://dailyworld.in/business/kpit-technologies-q2-net-profit-dips-17-pc-to-rs-169-crore-revenue-up-647896.html Mumbai Nov 10 KPIT Technologies on Monday reported a 17 per cent yearonyear YoY decline in its consolidated net profit for the second quarter of this fiscal Q2 FY26 at Rs 16908 crore The company which offers software development and integrated services for the automotive and mobility industries had posted a net profit of Rs 2037 crore in the corresponding quarter a year ago Q2 FY25 Its net profit slipped over 28 per cent sequentially as well from Rs 17189 crore in the first quarter of FY26The decline in profit was largely attributed to higher expenses as the companys total expenses for the quarter under review rose over 9 per cent YoY to Rs 1358 crore from Rs 12359 croreRevenue from operations however went up to Rs 15877 crore marking around 8 per cent growth YoY from Rs 14714 crore and a 31 per cent increase quarteronquarter QoQ from Rs 15387 croreThis increment was driven by robust demand from European markets despite there was a slight decline in its American businessRevenue from the UK and Europe rose 136 per cent sequentially to Rs 8283 crore offsetting a dip in the Americas where revenue fell to Rs 4424 crore from Rs 4569 crore in the previous quarterThe companys operating performance improved with EBITDA margin expanding to 211 per cent and EBIT margin at 164 per cent during the quarterAccording to its exchange filing the company has also secured a new total contract value of over 1940 crore which includes a significant multiyear partnership with a leading European automotive manufacturer to drive softwaredefined vehicle SDV transformationDespite ongoing global uncertainties we are seeing signs of renewed optimism in the mobility ecosystem Our strategic investments such as the Caresoft Engineering Solutions Business acquisition closure in Q2 and the stake increase in NDream coupled with the investment in helmai in Q3 are strengthening our foundation and expanding our capabilities said Kishor Patil Cofounder CEO and MD KPITAs the industry accelerates toward softwaredefined vehicles KPITs focus on nextgeneration technologies AIdriven solutions and deep client partnerships positions us to lead this transformation he added IANS https://dailyworld.in/business/kpit-technologies-q2-net-profit-dips-17-pc-to-rs-169-crore-revenue-up-647896.html Mon, 10 Nov 2025 18:40:00 +0530 https://dailyworld.in/business/goldman-sachs-upgrades-india-to-overweight-sees-nifty-at-29-000-by-2026-647697.html New Delhi Nov 9 Global investment bank Goldman Sachs GS has turned bullish on India upgrading its rating on Indian equities to Overweight and setting a Nifty target of 29000 by end2026 implying a potential 14 per cent upside from current levels In its latest report titled Leaning In as Growth Revives Raising India back to Overweight the global investment bank said it expects a revival in Indias growth momentum driven by supportive monetary and fiscal policies an earnings rebound and renewed foreign investor interestThe banks October 2024 downgrade which was based on stretched valuations and a slowdown in earnings has been reversed by the upgradeAccording to the report due to significant 30 billion outflows from foreign portfolios Indian equities have underperformed MSCI EM by 25 percentage points over the past year the largest difference in 20 yearsGoldman Sachs said recent trends suggest a turnaround in sentiment as valuations have cooled and foreign risk appetite improves We now see a case for Indian equities to perform better over the coming year the report notedThe investment bank said growth will be supported by the Reserve Bank of Indias easing measures including rate cuts improved liquidity and bank deregulation along with GST reductions and slower fiscal consolidation These factors it said should bolster domestic demand over the next two yearsCorporate earnings for the September quarter were better than expected leading to upgrades in select sectors GS forecasts MSCI India profits to rise from 10 per cent in 2025 to 14 per cent in 2026 supported by a stronger nominal growth environmentThe bank believes that the next phase of market gains will be led by companies in the financial consumer durables defence technology media and telecom TMT and oil marketing sectorsIt further stated that low food inflation a robust agricultural cycle GST rate reductions impending state elections and potential 8th Pay Commission wage increases are all likely to support mass consumption and raise demand and profits in consumerrelated industries IANS https://dailyworld.in/business/goldman-sachs-upgrades-india-to-overweight-sees-nifty-at-29-000-by-2026-647697.html Sun, 09 Nov 2025 15:12:00 +0530 https://dailyworld.in/business/seven-of-top-10-valued-firms-lose-rs-88-600-crore-airtel-tcs-among-biggest-losers-647722.html Mumbai Nov 9 Indias top companies saw a sharp erosion in wealth last week as seven of the ten mostvalued firms collectively lost Rs 88635 crore in market capitalisation this week dragged down by weakness in telecom and IT stocks The decline came amid a holidayshortened trading week which saw the Sensex fall 722 points 086 per cent and the Nifty 50 slip 230 points 089 per cent extending the subdued trend in equitiesBharti Airtel and Tata Consultancy Services TCS were the biggest losers Airtels market valuation tumbled Rs 30506 crore to Rs 1141 lakh crore while TCS shed Rs 23680 crore taking its market capitalisation to Rs 1082 lakh croreTogether the two companies accounted for more than half of the total wealth erosion among the top ten firmsOther major laggards included Hindustan Unilever whose valuation decreased by Rs 12253 crore to Rs 567 lakh crore and Reliance Industries which saw a decline of Rs 11164 crore settling at Rs 20 lakh croreHDFC Banks mcap dipped Rs 7304 crore to Rs 1511 lakh crore while Infosys and ICICI Bank lost Rs 2139 crore and Rs 1588 crore respectivelyHowever a few names managed to overpower the overall market weakness Life Insurance Corporation of India LIC added Rs 18469 crore in valuation reaching Rs 584 lakh crore while State Bank of India SBI gained Rs 17492 crore to Rs 882 lakh croreBajaj Finance also advanced Rs 14965 crore with its valuation rising to Rs 663 lakh croreDespite the weekly decline Reliance Industries retained its top spot as the countrys most valued company followed by HDFC Bank Bharti Airtel TCS ICICI Bank SBI Bajaj Finance Infosys LIC and Hindustan UnileverMarket watchers said the fall in largecap stocks reflected a cautious mood among investors amid global volatility and sustained foreign fund outflows Financials however continued to show relative strength cushioning broader losses in the equity market IANS https://dailyworld.in/business/seven-of-top-10-valued-firms-lose-rs-88-600-crore-airtel-tcs-among-biggest-losers-647722.html Sun, 09 Nov 2025 17:14:00 +0530 https://dailyworld.in/business/gst-20-comes-as-big-boon-for-indias-artisans--647724.html New Delhi Nov 9 The nextgeneration GST 20 rate cuts on several handicraft items from 12 per cent to 5 per cent have come as a major boon for the countrys artisans as demand for their products has gone up leading to higher earnings and also enabling them to compete with factorymade goods The tax cuts have benefited artisans producing items like woodcarved products terracotta jute handbags textile items and leather goodsThe muga silk industry of Assam operating mainly in Sualkuchi Kamrup Lakhimpur Dhemaji and Jorhat along with other sericulture clusters across the state is a legacy carried by women weavers The reduced 5 per cent GST rate on handloom and handicraft items will bring relief to weavers who can now sell in competitive markets and earn better margins It will also boost exports as niche luxury buyers may be more inclined to purchase when prices are marginally lowerThe entire handloom sector in Assam stands to gain from the GST reforms In a state with more than 1283 lakh weavers and about 1246 lakh looms the impact is farreachingThe GST rate cut on handlooms and crafts will also benefit Assam Jaapi Asharikandi terracotta Mishing handloom Pani Meteka and Bihu dhol among othersBy lightening the tax load the reforms will help build stronger markets for traditional handlooms and crafts This can potentially boost incomes and ensure that handmade Assamese textiles hold their own in an age of factorymade fabricsWest Bengal has long been known for traditional crafts and handlooms from the terracotta temples of Bishnupur to the intricate embroidery of Nakshi Kantha The GST cut from 12 per cent to 5 per cent directly benefits this sector by reducing prices and strengthening its competitiveness against machineembroidered or massproduced imitations in domestic and foreign markets such as Europe the US and JapanThe GST reduction from 12 per cent to 5 per cent is expected to lower retail prices making ecofriendly jute products such as bags more competitive against plastic or synthetic alternatives This boosts domestic demand in urban markets while also supporting exports West Bengal is the heart of Indias jute industry which provides direct employment to over 25 lakh workers in organised mills and supports about 40 lakh farming familiesMadurkathi Mats Purulia Chhau Masks Wooden Masks of Kushmandi and Sholapith Craft are the other handicraft items that will benefit from the GST rate cutsHimachals famed handloom products especially its shawls and woollen textiles are expected to get a boost as GST on these products has also been slashed from 12 per cent to 5 per cent In the Kullu valley over 3000 weavers involved in selfhelp groups produce the brightly patterned GItagged Kullu shawls These weavers are part of an estimated 1000012000 handloom artisans statewide The Kinnaur districts shawl makers and those who derive their livelihood from these handicrafts will also benefitThe Chamba rumal is a GItagged miniature handembroidered cloth made primarily by women artisans in the Chamba district of Himachal Pradesh which will see a higher demand due to the cut in GST to 5 per cent for these handkerchiefs Traditional leather slippers from Chamba are another GItagged product produced by hundreds of small cottage craft units A lower GST will make their pricing more competitive against machinemade footwear and encourage sales of indigenous chappals This will help artisans improve their marginFrom intricate wooden doors and panels to furniture carved wooden products are produced in areas like Chamba Kinnaur and Kullu This industry hires thousands of rural artisans in Himachal The new GST rates put wooden articles in the 5 per cent category which will stimulate demand for locally made wooden furniture and souvenirs It will not only make these items more affordable but also support local artisans Certain parts of Himachal which produce bamboo products such as baskets and other ecofriendly crafts will also gain IANS https://dailyworld.in/business/gst-20-comes-as-big-boon-for-indias-artisans--647724.html Sun, 09 Nov 2025 17:41:00 +0530 https://dailyworld.in/business/govt-signs-mous-with-over-50-firms-to-boost-manufacturing-startup-ecosystem-647747.html New Delhi Nov 9 The Department for Promotion of Industry and Internal Trade DPIIT has signed agreements with more than 50 companies to strengthen Indias manufacturing and innovation ecosystem for startups The initiative aims to encourage collaboration between large corporations and emerging manufacturing startups to foster innovation develop new products and create sustainable industrial growthAccording to an official DPIIT has been proactively engaging with corporates industry associations unicorns and sector veterans to highlight the importance of building manufacturingfocused incubators and the benefits of working closely with earlystage enterprisesThis is part of a larger effort to promote the startup ecosystem and encourage the industry to support innovation in manufacturing through incubators and partnerships the official notedThese collaborations are expected to provide critical support for manufacturing startups which often struggle with access to infrastructure capital and scaling opportunitiesManufacturingfocused incubators play a key role in this effort by offering pilot facilities design centres prototyping labs and shared manufacturing spaces all of which reduce the high capital investment burden faced by startupsSuch incubators also serve as an interface between startups and established industries enabling access to market opportunities risk capital and advanced technologies They can be established by corporations academic institutions or research organisationsThe DPIITs initiative is seen as a significant step toward creating a robust and collaborative manufacturing startup ecosystem supporting Indias broader goal of becoming a global hub for innovation and industrial growthDPIIT last month signed an MoU with Thermo Fisher Scientific TFS to accelerate innovation in Indias biotechnology sector and nurture a strong pipeline of highgrowth startups The partnership aims to support over 500 biotech startups in the next three years through strategic advisory technology access mentorship and investor connectAs part of the MoU TFS under Startup India DPIITs initiative Bharat Startup Grand Challenge BSGC will launch the BioVerse Challenge a nationwide platform to identify and nurture Indias most promising biotech entrepreneurs and the BioVerse Mentors Circle to provide skill development and technical training across leading bioincubators IANS https://dailyworld.in/business/govt-signs-mous-with-over-50-firms-to-boost-manufacturing-startup-ecosystem-647747.html Sun, 09 Nov 2025 19:35:00 +0530 https://dailyworld.in/business/centre-earns-rs-4-085-crore-through-sale-of-scrap-from-govt-offices-in-swachhata-drive-minister-647748.html New Delhi Nov 9 The Centre has earned as much as Rs 408524 crore through five dedicated annual cleanliness Swachhata campaigns lasting one month each since 2021 through disposal of scrap including electronic scrap from different central government offices as part of the Special Swachhata campaign Union Minister Dr Jitendra Singh said on Sunday The minister also disclosed that another significant outcome of the campaign was that 23175 lakh square feet of space has been freed for productive utility which was earlier choked and blocked with waste material worn out furniture and scrapInterestingly the amount of over Rs 4085 crore earned by selling off the scrap could be the total budget of one mega Space mission or multiple Chandrayaan Space missions while the total space freed was enough to bring up a huge mall or some other massive structure for economic activity the minister saidElaborating further Dr Singh recalled that in his very first Independence Day address Prime Minister Narendra Modi had given a call for Swachhata from the ramparts of the Red Fort Soon this turned into a mass campaign and over four lakh toilets were built in the first year itself Simultaneously he said a campaign was taken up to clear the junk of redundant office files broken furniture etc from the government officesHe said in 2021 on the advice of Prime Minister Narendra Modi it was decided that while Swachhata was an ongoing continuous movement during the month of October beginning from the Gandhi Jayanti 2nd October up to 31st October there would be a dedicated Special Swachhata campaign in which all the government Ministries and departments would be expected to actively participate and prepare regular reports of the tasks achievedFor the last three years or so Dr Singh observed that besides the conventional scrap there was also a lot of electronic scrap in the offices which could be disposed of not only to generate revenue for the State but could also be converted through recycling to generate wealth from wasteHe explained that at the end of the Special Swachhata campaign 40 last year nearly Rs 3300 crore had been earned to which Rs 78853 crore was added through this years Special Campaign 50 lasting from October 2 to October 31 2025 As a result the total amount earned so far is over Rs 4085 croreThis years Special Swachhata campaign 50 Dr Singh said also took place at a time when extensive Waste to Wealth activity has been undertaken by the Ministry of Science amp Technology This for example includes recycling of hospital waste through a technology developed by CSIRNIIST Thiruvanathapuram and deployed at AIIMS New Delhi recycling of cooked oil undertaken by CSIRIIP Dehradun and use of steel sludge for road construction through technology developed by CSIRCRRI New Delhi he added IANS https://dailyworld.in/business/centre-earns-rs-4-085-crore-through-sale-of-scrap-from-govt-offices-in-swachhata-drive-minister-647748.html Sun, 09 Nov 2025 20:06:00 +0530 https://dailyworld.in/business/centre-sets-ball-rolling-on-monetisation-of-power-transmission-assets-647753.html New Delhi Nov 9 The Central Electricity Authority CEA has circulated a concept note to the Forum of Regulators a joint body of central and state electricity regulatory commissions to outline the key aspects for monetising public sector transmission assets This proposal comes under the Acquire Operate Maintain and Transfer AOMT model of the Public Private Partnership PPP framework that was issued by the Power Ministry in 2022 It allows the temporary transfer of public transmission assets to private entities for a defined period aiming to enhance efficiency and unlock the financial value of existing infrastructure as part of the governments asset monetisation strategyThe proposed framework will be adopted by state electricity regulators to promote transmission asset monetisation It aims to help determine tariffs in a manner that provides investors with reasonable revenue certainty and transparency over project details at the time of bidding A clear and stable tariff structure is seen as essential for attracting investor confidence and ensuring financial viability for both public and private stakeholdersDuring earlier discussions state governments raised concerns about revenue certainty tax implications and payment security for intrastate transmission chargesTaking this into account the concept note observes that the initiative involves multiple complexities that need careful consideration before implementation One of the main areas of focus is the tariff structure of the assets and the impact of taxes during the process of transfer The model requires a systematic process starting from identifying the assets suitable for monetisation For those assets that come under the Regulated Tariff Mechanism RTM a demerger process will have to be carried out to create a separate Special Purpose Vehicle SPV Once the SPV is formed it must obtain a license from the respective State Electricity Regulatory Commission SERC to continue its operations under the AOMT modelTo ensure transparency and credibility in the process the concept note specifies the appointment of several external professionals A technical consultant will be engaged to perform technical due diligence of the assets ensuring they are in suitable condition for transfer An independent valuer will be responsible for conducting a financial valuation to determine the fair value of the assetsThe document also underscores the importance of detailed legal documentation to support the monetisation process Key agreements include the transfer agreement between the seller and buyer the transmission service agreement and the definition of the tenure for which the assets will remain under private operationIt observes that one of the key challenges posed by the state transmission utilities and investors is related to predictable cash flow for monetised assets Intrastate transmission projects mostly cover Real Time Market RTM assets and the electricity regulator fixes tariffs for these assets for each control block based on norms IANS https://dailyworld.in/business/centre-sets-ball-rolling-on-monetisation-of-power-transmission-assets-647753.html Sun, 09 Nov 2025 20:11:00 +0530 https://dailyworld.in/business/coal-india-aiming-to-meet-875-million-tonnes-target-for-2025-26-647754.html Kolkata Nov 9 Coal India Ltd aims to step up its production in the coming months to achieve its target of 875 million tonnes for the current financial year the public sector companys Chairman and Managing Director Sanoj Kumar Jha said on Sunday Interacting with journalists on the sidelines of an event to celebrate the 59th Foundation Day of Hindustan Copper Ltd here Jha said Today I cant say we will not meet the production target for 202526 I cant say we will meet But we will aspire that we will be able to be there or near thereThe output of CIL which accounts for 80 per cent of Indias coal production was adversely impacted during September and October this year due to the prolonged monsoon rains affecting mining operationsThe CMD was however confident that CIL would meet the coal requirement of the industry and have more stocks at the end of the year than it had at the end of the previous year Coal India has a despatch target of 900 MT for 202526CILs production declined 98 per cent to 564 million tonnes in October which was higher than the companys September production of 4897 MT as rainfall was heavier during the month However the company plans to increase production during the remaining five months of the current financial year to cover the shortfallCIL produced 781 million tonnes in FY25 The countrys total coal output including captive and commercial mines surpassed one billion tonnes in FY25 and is projected to reach 115 billion tonnes in FY26Jha who was Additional Secretary Ministry of Coal took over as ChairmancumManaging Director CIL on November 1The Coal India CMD also said that in the next six months regulations on the proposed coal exchange will be in placeThe draft rules for the countrys proposed coal exchange will be finalised by the end of November after examining feedback which has been received from the public Coal Secretary Vikram Dev Dutt said recentlyAccording to the draft rules the coal controller organisation CCO will be appointed to register and regulate the coal exchanges to be established in the country The Ministry of Coal had invited comments from stakeholders by midOctober IANS https://dailyworld.in/business/coal-india-aiming-to-meet-875-million-tonnes-target-for-2025-26-647754.html Sun, 09 Nov 2025 20:51:00 +0530 https://dailyworld.in/business/sebi-warns-investors-about-unregulated-digital-gold-e-gold-products-647567.html Mumbai Nov 8 The Securities and Exchange Board of India SEBI has issued a warning to investors regarding digital gold or egold products available online stating that all such offerings operate outside the securities regulatory framework and hold significant risks for investors This situation may expose buyers to considerable counterparty and operational risks as these products are neither classified as securities nor regulated as commodity derivativesIt has come to the notice of SEBI that some digitalonline platforms are offering investors to invest in Digital GoldEGold Products Digital Gold is being marketed as an alternative for investment in physical gold the market regulator said in a statementSEBI informed that such digital gold products are different from SEBI regulated gold products as they are neither notified as securities nor regulated as commodity derivativesThey operate entirely outside the purview of SEBI Such digital gold products may entail significant risks for investors and may expose investors to counterparty and operational risks the statement saidSEBI clarified that none of the investor protection mechanisms under securities market purview shall be available for investments in such digital gold or EGold productsVarious online platforms and jewellers are promoting digital gold with minimal investment options starting at Rs 10 or Rs 100 They are also highlighting features like anytime buysell and the ability to redeem for physical jewellerySEBI emphasised that investment in gold can be made through regulated channels including exchangetraded commodity derivatives gold exchangetraded funds from mutual funds and electronic gold receipts that can be traded on stock exchanges These investments are facilitated by SEBIregistered intermediaries and are subject to the regulators frameworkIndias gold exchangetraded funds saw 850 million in net inflows in October taking the total to a record 305 billion the highestever for a single year according to the World Gold Council data IANS https://dailyworld.in/business/sebi-warns-investors-about-unregulated-digital-gold-e-gold-products-647567.html Sun, 09 Nov 2025 00:00:00 +0530 https://dailyworld.in/business/telecom-operators-embrace-ai-to-bolster-revenues-drive-efficiency-globally-647573.html New Delhi Nov 8 Leading telecoms globally are deploying artificial intelligence AI across network operations customer service and fraud prevention to drive efficiency and reduce costs according to a new report These initiatives are already contributing to EBITDA margin gains with predictive maintenance and automated support systems leading the way according to an IDC reportAI also enables personalised offerings and dynamic pricing boosting average revenue per user ARPU and reducing churnFraud detection systems enhanced by AI are helping reduce losses reinforcing customer trust and regulatory compliance With AI accelerating timetomarket for new services telecoms can better monetize emerging technologies like 5G and edge computingIn the longer term as AI continues to evolve it will be increasingly recognized not as a mere technological enhancement but as a strategic enabler poised to drive sustainable growth for telecommunications operators said the reportMeanwhile worldwide spending on telecommunication and pay TV services is projected to reach 1532 billion in 2025 representing an increase of 17 per cent yearonyear according to the IDC reportThe latest forecast is slightly more optimistic compared to the forecast published earlier this year as it assumes a 01 percentage point higher growth of the total market valueThe regional dynamics remain mixed with inflationary effects competition and Average Revenue per User ARPU trends playing a central role in shaping market trajectories said Kresimir Alic research director Worldwide Telecom Services at IDCThe breakdown by telecom service type confirms that established trends remain intact despite adjustments to overall market forecastsMobile continues to dominate driven by rising data consumption and the expansion of M2M applications which are offsetting declines in traditional voice and messaging revenuesFixed data services are also expected to grow steadily fuelled by increasing demand for highbandwidth connectivityThe global connectivity services market is projected to grow at a compound annual rate of 15 per cent over the next five years maintaining a cautiously optimistic outlook IANS https://dailyworld.in/business/telecom-operators-embrace-ai-to-bolster-revenues-drive-efficiency-globally-647573.html Sun, 09 Nov 2025 00:05:00 +0530 https://dailyworld.in/business/centre-generates-over-6794-lakh-digital-life-certificates-for-pensioners-this-year-647575.html New Delhi Nov 8 As many as 6794 lakh digital life certificates DLCs have been generated to enhance the ease of living of pensioners so far this year of which 4042 lakh are through face authentication according to an official statement on Saturday In five days from November 15 2560 lakh DLCs have been generated of which 1562 lakh 61 per cent are through face authentication More than 37000 DLCs of pensioners above 90 years and 985 of pensioners above 100 years have been generated the statement saidThe face authentication technique can be carried out easily through smart phones anytime anywhere It enables easy DLC submission by pensioners and is particularly useful for aged and sick pensioners who do not have to visit any bank or pension disbursing authorityA nationwide DLC campaign 40 has been launched by the Department of Pension amp Pensioners Welfare in collaboration various stakeholders Pension Disbursing Banks India Post Payments Bank Pensioners Welfare Associations CGDA EPFO DoT Railways UIDAI and MeitY from November 130 2025 with the aim of touching all the pensioners in remotest corners of the countryV Srinivas Secretary Department of Pension and Pensioners Welfare inaugurated a mega camp organised by Punjab National Bank at the Sansad Marg branch hereAddressing the pensioners he highlighted the initiative taken by the government for their digital empowerment The introduction of digital modes of life certificate submission which has greatly enhanced their ease of living and is hugely beneficial to aged and sick pensionersPunjab National Bank is holding camps in 39 cities at 185 locations across the countryFace Authentication for Digital Life Certificate generation was carried out for pensioners during the mega camp The convenience of Life Certificate submission through digital modes in particular Face Authentication technique which enables Life Certificate generation Anytime Anywhere was highlighted during these DLC generations the statement added IANS https://dailyworld.in/business/centre-generates-over-6794-lakh-digital-life-certificates-for-pensioners-this-year-647575.html Sun, 09 Nov 2025 00:08:00 +0530 https://dailyworld.in/business/handloom-amp-textile-sectors-are-manipur-economys-heartbeat-guv-bhalla-647579.html Imphal Nov 8 Governor Ajay Kumar Bhalla said on Saturday that the handloom and textile sector is the heartbeat of Manipurs economy with women weavers forming its very foundation Inaugurating the Manipur International Textile Expo MANITEX2025 at Urban Haat Nilakuthi Imphal the Governor said that through the womens artistry and resilience they preserve the states heritage while shaping a sustainable future He said that the initiatives such as One District One Product ODOP PM Mitra Parks and Digital India ecommerce integration are empowering the artisans with technology innovation and market access Together these efforts are strengthening the Made in Manipur brand a mark of authenticity sustainability and excellence When we uplift our weavers we uplift communities ensuring that Manipurs legacy continues to inspire the world said the Governor Bhalla said that the MANITEX 2025 is not merely an exhibition of fabrics and designs it is a proud celebration of Manipurs identity creativity and craftsmanship Each weave tells a story of our people our culture and our enduring connection to the land From the hills to the valleys every community contributes its own unique themes colours and techniques reflecting the beautiful diversity that defines Manipurs textile heritage he stated The Governor noted that the Expo beautifully bridges tradition and innovation connecting our artisans many of them women with national and global markets It transforms skill into opportunity and heritage into livelihood reaffirming that Manipurs greatest strength lies in the hands of its weavers MANITEX stands as a shining example of how tradition can embrace modernity without losing its soul Bhalla said Organised under the theme Weaving a Sustainable Future Manipurs Handloom Heritage to Global Fashion the Expo MANITEX2025 is being held by the Department of Textiles Commerce and Industry and the Directorate of Handloom and Textiles of the Manipur government Officials said that the primary objective of MANITEX 2025 is to showcase Manipurs diverse handloom handicraft and textile products on the global stage with a strong focus on ecofriendly textiles natural dyes and sustainable weaving practices deeply rooted in Manipuri traditions During the inaugural function 3000 frame looms and accessories were distributed to weavers under the National Handloom Development Programme In addition financial assistance was provided to 60 extrainee artisans for the purchase of tool kits The Governor also released the Data Book of National and State Awardees of Manipur and unveiled the Handlooms and Textiles Calendar 2026 State Chief Secretary Puneet Kumar Goel Additional Chief Secretary Textiles Commerce and Industry and Transport Anurag Bajpai Padma Shri awardees distinguished guests officials weavers and members of the public attended the inaugural function IANS https://dailyworld.in/business/handloom-amp-textile-sectors-are-manipur-economys-heartbeat-guv-bhalla-647579.html Sun, 09 Nov 2025 00:12:00 +0530 https://dailyworld.in/business/indias-urban-transformation-must-be-driven-by-sustainability-inclusivity-innovation-manohar-lal-647585.html New Delhi Nov 8 Union Housing and Urban Affairs Minister Manohar Lal on Saturday emphasised that Indias urban transformation must be driven by sustainability inclusivity and innovation He said that by 2047 Indian urban population will be around 50 per cent of total population and for them all stakeholders will have to come together and huge investments not only from central and state governments but also from private players and individuals will help in achieving the dream of Viksit BharatTowards this goal initiatives like Dumpsite Remediation Accelerator Programme DRAP Urban Invest Window UiWIN and Knowledge Management Unit KMU will play a crucial role in building cleaner greener and more liveable cities aligning with the vision of Viksit Bharat at 2047 he said while addressing the National Urban Conclave 2025 at Yashobhoomi hereThe minister launched DRAP which is a yearlong missionmode initiative aimed at fasttracking the remediation of remaining dumpsites across urban IndiaThe programme seeks to reclaim valuable urban land for community and infrastructure development thereby advancing Indias vision of achieving Lakshya Zero Dumpsites by September 2026Currently 1428 sites are undergoing remediation and about 80 per cent of the legacy waste is concentrated in 214 sites across 202 ULBs DRAP will prioritise these highimpact locations covering approximately 88 crore MT of legacy wasteTo support the goal of Lakshya Zero Dumpsites the central government provides financial assistance to cities considering an estimate of Rs 550 per tonne for legacy waste remediationThe minister also launched the Swachh Bharat Mission Knowledge Management Unit KMUThe unit is established by the Ministry of Housing and Urban Affairs MoHUA as a dedicated unit at the National Institute of Urban Affairs NIUA the KMU will serve as a national platform for capacity building knowledge creation and institutional learning under the Swachh Bharat MissionUrban frameworkAnother major initiative launched on the occasion was the Urban Invest Window UiWIN an initiative of HUDCO under the guidance of MoHUAUiWIN will serve as a onestop investment facilitation platform for Indian cities designed to attract private investments and enable access to longtenor concessional and competitive financing from multilateral institutions such as the World Bank and Asian Development BankThe platform will also promote PPPbased urban projects to accelerate sustainable infrastructure growth IANS https://dailyworld.in/business/indias-urban-transformation-must-be-driven-by-sustainability-inclusivity-innovation-manohar-lal-647585.html Sun, 09 Nov 2025 00:21:00 +0530 https://dailyworld.in/business/india-among-worlds-top-5-oil-refining-countries-hardeep-puri-647602.html New Delhi Nov 8 Minister of Petroleum and Natural Gas Hardeep Singh Puri on Saturday said that India with its 23 worldclass refineries and a total capacity of 2582 MMTPA million metric tonnes per annum now stands among the top five refining nations in the world Indias oil refining story is a story of growth innovation and selfsufficiency From meeting domestic demand to fuelling global markets the journey has been remarkable the Minister observed in a post on XHe highlighted that in 202425 the countrys petroleum product exports reached 647 million tonnes up from 555 million tonnes in 201415Every refinery today produces BSVI fuels which are among the cleanest in the world and with new petrochemical hubs in Rajasthan and Odisha India is redefining the future of energy under PM Narendra Modis leadership the minister added He earlier said that the country is on track to reach around 310 MMTPA by 2030 with longterm plans to scale further to 400450 MMTPA to become a global refining and energy hub Addressing the inaugural session of the Energy Technology Meet recently the minister said this expansion will come at a time when around 20 per cent of existing global refining capacity faces potential closure by 2035 with over 100 refineries expected to shut down worldwide While the global energy market is expected to grow at a slow pace India stands out as a bright spot projected to contribute nearly 3033 per cent of global energy demand growth in the coming decades he added Hardeep Singh Puri also observed that Indias refineries are worldclass globally integrated and exportready India is already among the top seven exporters of petroleum products with exports to more than 50 countries valued at over 45 billion in FY 202425 The Minister underlined the importance of innovation and indigenization in Indias energy ecosystem with the country achieving nearly 80 per cent import substitution across the energy value chain The minister stressed that Indias energy strategy encompasses both fuel and petrochemical growth as part of a calibrated transition toward sustainability He said that while the share of traditional fuels will gradually reduce they will continue to play a major role for decades as India moves toward its 2047 goals IANS https://dailyworld.in/business/india-among-worlds-top-5-oil-refining-countries-hardeep-puri-647602.html Sun, 09 Nov 2025 00:35:00 +0530 https://dailyworld.in/business/kospi-experiences-record-foreign-sell-off-in-1st-week-of-nov-647642.html Seoul Nov 9 South Koreas main stock index recorded its biggestever weekly selloff by foreign investors in the first week of November as profittaking and concerns over an artificial intelligence AI stock bubble spurred a market retreat the Korea Exchange said on Sunday From Monday to Friday foreign investors dumped a net 726 trillion won US498 billion worth of shares on the benchmark Korea Composite Stock Price Index KOSPI the bourse operator said reports Yonhap news agencyThe amount marked the largest weekly selloff by foreign investors in KOSPI history surpassing the previous record of 705 trillion won in the second week of August 2021The KOSPI experienced sharp volatility last week climbing to a record high above 4200 on Monday before plunging nearly 3 percent Wednesday After a brief rebound Thursday the index shed 181 percent Friday closing below the 4000 markThe benchmark had been the fastestrising major stock index among Group of 20 nations as of Oct 27 buoyed by strong foreign buying of semiconductors and other blue chip stocks according to data compiled by Yonhap Infomax the financial arm of Yonhap News AgencyBut the rally fueled profittaking among foreign investors especially after Wall Street slumped last week amid revived fears of an AI bubble analysts saidSamsung Electronics Co the worlds biggest memory chip maker and its rival SK hynix Inc accounted for more than 70 percent of foreign selloffs last weekForeigners unloaded 15 trillion won worth of Samsung shares and 37 trillion won in SK shares data showedWith the US federal government shutdown marking the longest in history uncertainty over its economic impact has deepened said Chung Haechang an analyst at Daishin Securities Given the lack of upward momentum and investor optimism the market is likely to remain in a consolidation phase for the time beingLee Sunghoon an analyst at Kiwoom Securities noted that the recent weakness of the Korean won will also sap foreign investors appetite saying that foreign inflows are unlikely to rebound soonThe local currency fell below the psychologically crucial 1450 won threshold Friday dipping to its lowest level in nearly seven months IANS https://dailyworld.in/business/kospi-experiences-record-foreign-sell-off-in-1st-week-of-nov-647642.html Sun, 09 Nov 2025 11:24:00 +0530 https://dailyworld.in/business/market-outlook-domestic-indices-to-remain-in-consolidating-phase-amid-q2-results-inflation-data-647660.html Mumbai Nov 9 The domestic stock market is expected to remain sideways to a consolidating phase as the equity indices show mild selling pressure at a higher level in the weekly chart The coming week will be significant with multiple important macroeconomic data On the domestic front the focus will be on Indias CPI and WPI inflation figures which are expected to shed light on the inflation trend and future policy directionThis week the Nifty index closed the week at 2549230 marking a 089 per cent decline from the previous weeks close The decline took place due to ongoing selling by the foreign institutional investors FIIs despite indications of a strengthening domestic economyFading expectations of a Fed rate cut also contributed to cautious investor sentiment amid mixed global cues and sectoral weakness in IT and metals led to the declineAccording to analysts a bearishbodied candle with a lower wick and a small upper wick was formed this week indicating selling pressure at higher levelsThe price action reflects a sideways to consolidation phase as the Nifty index failed to hold its higher levels and ended the week below the 25500 mark analysts saidThis setup suggests the possibility of continued consolidation or sideways movement in the near term said Hardik Matalia of Choice BrokingThe India VIX rose by 333 per cent during the week to close at 125575 indicating a slight uptick in market volatilityIn the derivatives segment the maximum Call open interest OI is concentrated at the 2560025700 strike levels suggesting strong resistance at higher zones On the downside the maximum Put OI is seen at the 2540025300 strike levels highlighting key support areas the analyst notedMeanwhile the Bank Nifty index closed the week at 5787680 up 017 per cent from the previous weeks closeOn the weekly chart the index shows signs of indecision reflecting a tussle between buyers and sellersThe index ended the week above the 57800 mark indicating stability but a lack of clear direction Overall the setup suggests a sideways to consolidation phase until a decisive breakout occurs on either side the analyst highlighted IANS https://dailyworld.in/business/market-outlook-domestic-indices-to-remain-in-consolidating-phase-amid-q2-results-inflation-data-647660.html Sun, 09 Nov 2025 12:27:00 +0530 https://dailyworld.in/business/northeast-region-is-not-just-indias-frontier-its-now-nations-forward-face-pm-modi-647669.html New Delhi Nov 9 Prime Minister Narendra Modi on Sunday highlighted that the countrys Northeast region is not just Indias frontier it is now its forward face Responding to a media article written by Union Minister Jyotiraditya M Scindia the Prime Minister posted on X In this insightful article Union Minister JM Scindia shares his experience of visiting the North East describing its beauty and the indomitable spirit of its peopleHighlighting the North East as Ashtalakshmi the Minister explains how it is becoming Indias natural gateway to Southeast Asia He emphasises that the North East is not just Indias frontier it is now its forward face PM Modi observedThe minister has stated that as connectivity deepens the Northeast is becoming Indias natural gateway to Southeast Asia He mentions his recent visit to Assam and Meghalaya was an experience that left him deeply moved and profoundly inspiredThe breathtaking beauty of the Northeast is matched only by the warmth simplicity and indomitable spirit of its people who have left a lasting impression on me I return home from this visit with a renewed resolve to work even harder and with greater rigour for the regions progress and prosperity Scindia saidUnder the leadership of Prime Minister Narendra Modi the government of India is transforming the Northeast into a vibrant centre of connectivity culture and commerce Had it not been for his farsighted vision and ability to turn challenges into opportunities this resurgence of hope and possibility might still have remained a distant dream the minister further statedHe pointed out that as the region turns from being landlocked to landlinked one can feel the pulse of transformation where development walks hand in hand with inclusivity and dignityThe minister underlined his visit to the Mushroom Development Centre in Upper Shillong where he says as part of a quiet revolution in the heart of Meghalaya science and community have joined hands to transform rural livelihoodsEstablished in 1982 under the North Eastern Council the centre now houses the newly set up Shiitake Mushroom Production and Training Centre producing nearly 15 lakh sawdust blocks each year each capable of yielding a kilogram of shiitake mushrooms valued at up to Rs 1000 in the marketBeyond the numbers what stayed with me were the faces and stories of the farmers I met their eyes gleaming with pride as they spoke of how this initiative is driven by a purpose of creating dignified livelihoods nurturing green entrepreneurship and growing a truly atmanirbhar selfreliant Northeast envisioned by the PM Scindia added IANS https://dailyworld.in/business/northeast-region-is-not-just-indias-frontier-its-now-nations-forward-face-pm-modi-647669.html Sun, 09 Nov 2025 13:21:00 +0530 https://dailyworld.in/business/union-government-earns-about-rs-800-crore-from-scrap-material-in-nationwide-cleanliness-drive-647671.html New Delhi Nov 9 In a remarkable outcome of the Centres monthlong swachhta campaign the government has generated over Rs 800 crore by selling scraps from various ministriesdepartments The drive conducted from October 2 to 31 was the largest since the initiative began in 2021 freeing up a record 232 lakh square feet of office space and clearing 29 lakh physical files according to officialsAs per reports nearly 1158 lakh office sites were covered under the campaign coordinated by the Department of Administrative Reforms and Public Grievances DARampPGThree Union Ministers Mansukh Mandaviya K Ram Mohan Naidu and Dr Jitendra Singh supervised the massive interministerial effort that saw participation from 84 ministries and departments including Indias missions abroad said officialsThe annual cleanliness and efficiency campaign inspired by Prime Minister Narendra Modis call for Swachhata and good governance has now become a cornerstone of administrative reformSince its inception the government has earned nearly Rs 4100 crore by selling scrap material and obsolete assetsBetween 2021 and 2025 five editions of the campaign have helped institutionalise cleanliness and streamline administration The cumulative achievements include the coverage of 2362 lakh offices clearance of 16695 lakh files and freeing up 92884 lakh square feet of spaceThis years edition also focused on reducing pendency in government workCabinet ministers personally reviewed progress and interacted with officials to ensure targets were met Regular review meetings were held to track the disposal of pending files and grievancesLast month Union Minister Singh said that the government generated Rs 329671 crore from the disposal of ewaste and scrap while more than 69627 lakh sq ft of office space has been cleared and put to productive use over the last four yearsSpeaking at the launch of the Special Swachhta Campaign 50 at Nehru Park in the national capital Dr Singh said the campaign has brought visible changes in governance and public servicesHe emphasised that during earlier stages of the campaign more than 1204 lakh cleanliness sites nationwide had been cleaned and more than 13786 lakh outdated files had been removedFor their part in attaining these outcomes the minister commended the Department of Administrative Reforms and Public Grievances DARPG as well as other departmentsHe also took part in the events weeding out of outdated files a plantation drive under the Ek Ped Maa Ke Naam initiative and Shramdaan activities IANS https://dailyworld.in/business/union-government-earns-about-rs-800-crore-from-scrap-material-in-nationwide-cleanliness-drive-647671.html Sun, 09 Nov 2025 13:22:00 +0530 https://dailyworld.in/business/cii-moots-india-development-and-strategic-fund-to-boost-long-term-growth-647676.html New Delhi Nov 9 Apex business chamber CII on Sunday proposed the creation of an India Development and Strategic Fund IDSF as a sovereignbacked professionally managed institution to finance Indias longterm growth resilience and global economic security Conceived as a twinarm national fund the IDSF would mobilise patient longhorizon capital to build Indias productive capacity at home and secure critical economic interests abroad according to a CII statementThe IDSF is envisaged as comprising two distinct but coordinated arms The Developmental Investment Arm would focus on financing longgestation domestic priorities such as infrastructure clean energy logistics industrial corridors MSME scaleup education amp skilling healthcare and urban infrastructureThis arm would provide patient equity and blended finance to commercially viable projects that require longterm commitment It would act as an anchor investor crowding in pension funds sovereign wealth funds and institutional investors from India and abroad according to the statementCII has suggested that Indias existing National Investment and Infrastructure Fund NIIF could be evolved into this Developmental Arm leveraging its governance architecture and global investor baseThe Strategic Investment Arm would acquire and secure overseas assets critical for Indias longterm economic and security interests These include energy assets such as oil and gas fields LNG infrastructure and green hydrogen partnerships critical minerals such as lithium cobalt and rare earths frontier technologies including semiconductors AI and biotechnology and key global logistics and port assets This arm would give India the ability to act proactively to own rather than merely buy in critical supply chains and technologies shaping the future global economyThe industry body believes that with disciplined design and funding the IDSF could over the next two decades build a managed corpus in the range of 13 to 26 trillion by 2047 comparable in ambition and credibility to the worlds leading sovereign investorsThe proposed capitalisation roadmap includes a modest initial budgetary allocation to establish credibility followed by systematic channeling of a share of assetmonetisation proceeds from roads transmission lines ports and spectrum into the Fund instead of onetime deficit reduction Over time a portion of the Governments equity in select public sector enterprises could be transferred to the Fund turning these enterprises into instruments for Indias global expansion rather than mere disinvestment candidates according to the CII statementIn addition the Fund could issue thematic instruments such as infrastructure green and diaspora bonds to mobilise longterm domestic and international savings while coinvesting with multilateral and bilateral partners Once macroeconomic buffers are adequate a calibrated allocation of a small portion of Indias foreign exchange reserves could also be considered for overseas strategic acquisitions in areas like critical minerals and energyCII has emphasised that the Fund should retain majority ownership and strategic control with the Government of India while being run by a professional board combining senior Government representation and global investment expertise Two distinct investment committees would govern the Developmental and Strategic arms ensuring clarity of focus and accountabilityIt recommends that the Fund publish a periodic IDSF Review with a public dashboard on corpus size portfolio mix sectoral and geographic exposure and performance metricsCII director general Chandrajit Banerjee said the proposal is based on the recognition that Indias growth ambitions in infrastructure energy transition manufacturing technology and human development will require funding at a scale that cannot be met by annual budgetary allocations alone The Fund would help mobilise domestic and global savings and recycle national capital from mature assets into new productive capacity IANS https://dailyworld.in/business/cii-moots-india-development-and-strategic-fund-to-boost-long-term-growth-647676.html Sun, 09 Nov 2025 13:40:00 +0530 https://dailyworld.in/business/nifty-sensex-continue-to-decline-for-2nd-week-amid-fii-outflows-weak-global-cues-647464.html Mumbai Nov 8 Indian equity benchmarks continued their decline for the second week due to ongoing selling by the foreign institutional investors FIIs despite indications of a strengthening domestic economy Benchmark indices Nifty and Sensex dipped 071 and 165 per cent during the week to close at 25492 and 83216 respectivelyFading expectations of a Fed rate cut also contributed to cautious investor sentiment amid mixed global cues and sectoral weakness in IT and metals led to the declineSelect sectors found support from upbeat Q2 earnings with PSU banks remaining in focus due to robust financial performance improving asset quality and renewed speculation regarding a potential FDI cap hike and sector consolidation said Vinod Nair Head of Research Geojit Investments LimitedAnalysts said that buyondips strategy appears prudent as results from most Nifty 50 companies reported so far have been largely in line with estimates and continued policy support is expected to support current premium valuations and potentially drive earnings upgradesAccording to analysts a sharp decline in earnings growth in FY25 to 5 per cent stretched the valuations making Indian market one of the most expensive in the worldWith other emerging markets and some developed markets turning attractive with low valuations FIIs sold in India and moved money to other cheaper markets he addedNifty is currently trading above 20 times FY27 estimated earnings which is slightly above last 10year average PE ratio Analysts said that due to Indias superior longterm growth potential the present valuations can be justified even though the broader market valuations continue to be stretchedSupport for the Nifty is currently located close to the 25400 zone while resistance is seen around 25600 they addedMeanwhile there are signs of robust economic growth and earnings recovery in India When leading indicators reinforce this trend FIIs will reduce selling and eventually turn buyersNext week market direction will depend on upcoming domestic inflation data FII flows developments related to the US government shutdown and progress in trade negotiations involving the US India and China IANS https://dailyworld.in/business/nifty-sensex-continue-to-decline-for-2nd-week-amid-fii-outflows-weak-global-cues-647464.html Sat, 08 Nov 2025 10:14:00 +0530 https://dailyworld.in/business/gold-records-3rd-weekly-loss-amid-fading-hopes-of-us-fed-rate-cut-647470.html Mumbai Nov 8 The price of 24carat gold 10 grams dipped by Rs 670 over the week impacted by a stronger dollar and reduced expectations for another US Federal Reserve rate cut The price of 10 grams of 24carat gold closed the week at Rs 120100 down from Rs 120770 last week according to data published by the India Bullion and Jewellers Association IBJAInternational bullion remained around 4000 for the week facing pressure following Fed Chair Jerome Powells hawkish remarks even as the US Fed delivered a second 25 bps cut this yearMarket expectations for another cut in December slipped from around 90 per cent to near 60 per cent pressuring bullion while the dollar index held close to 100 and USDINR climbed toward 89Analysts said that the longest US government shutdown on record has delayed official data increasing reliance on private surveys ISM manufacturing and services PMIs fell below 50 indicating contraction while private payrolls rose by 42000 complicating the Federal Reserves outlookMeanwhile USChina trade tensions eased after US President Donald Trump and Chinese President Xi Jinping agreed to tariff trimming in exchange for Beijings fentanyl curbs renewed soybean buying and continued rareearth exports muting safehaven demandChina removed a core VAT offset for gold retailers buying via the Shanghai Gold Exchange and cut exemptions from 13 per cent to 6 per cent on some purchases prompting banks to halt new retail accounts and potentially cooling physical demand in the worlds top consumer said Manav Modi Analyst Precious MetalResearch Motilal Oswal Financial Services LtdFed liquidity support of roughly 294 billion alongside the December end of QT highlights ongoing funding stress he addedAdding a structural tailwind the US added uranium copper and silver to its critical minerals list potentially bolstering longterm demand for precious and industrial metals IANS https://dailyworld.in/business/gold-records-3rd-weekly-loss-amid-fading-hopes-of-us-fed-rate-cut-647470.html Sat, 08 Nov 2025 10:55:00 +0530 https://dailyworld.in/business/moodys-downgrades-ola-due-to-weak-financial-performance-low-liquidity-647479.html Mumbai Nov 8 Moodys Ratings has downgraded ANI Technologies Pvt Ltd the parent company of ridehailing firm Ola from B3 to Caa1 and changed the outlook to negative The downgrade is attributed to weakening financial performance reduced liquidity and an increased risk of violating loan covenants The global credit rating agency reported a decline in operating cash flows and an increase in refinancing risks due to slower revenue growth and ongoing lossesMoodys Ratings Moodys has downgraded ANI Technologies Pvt Ltds Ola corporate family rating CFR and the rating on the guaranteed senior secured term loan borrowed by OLA Netherlands BV to Caa1 from B3 The loan is guaranteed by Ola the release saidMoodys reported that ongoing operational challenges led to a higherthanexpected cash burn in the six months ending September 30 2025 decreasing cash reserves from 90 million in March 2025 and limiting headroom under the termloan covenantA covenant breach constitutes an event of default and accelerates repayment of Olas 65 million loan due December 2026 Ola must maintain cash equal to 40 per cent of the outstanding loan at least 26 million to comply with the covenant the release addedIntense competition in Indias ridehailing sector will result in continued cash burn over the next 12 months As such the company will have to rely on external funding sources to refinance its upcoming loan maturity the ratings agency saidThe ratings firm has deemed Olas liquidity weak indicating that available cash may fall substantially short of covering upcoming debt maturities and capital spending needs through December 2026Moodys said that Ola is considering options such as a potential initial public offering and selling its 364 percent stake in Ola Electric Mobility Ltd valued at approximately 90 million However it warned that these plans are subject to execution and market risksBhavish Aggarwalrun Ola Electric Mobility Ltd reported a consolidated net loss of Rs 418 crore for the JulySeptember period Q2 FY26 its exchange filing said this weekRevenue from operations dropped 43 per cent yearonyear to Rs 690 crore in Q2 FY26 down from Rs 1214 crore in Q2 FY25 indicating a substantial decline in sales for the quarter IANS https://dailyworld.in/business/moodys-downgrades-ola-due-to-weak-financial-performance-low-liquidity-647479.html Sat, 08 Nov 2025 11:50:00 +0530 https://dailyworld.in/business/govt-plans-ai-based-ekyc-global-credential-verification-in-digilocker-647497.html New Delhi Nov 8 The Ministry of Electronics and IT on Saturday announced plans for AIbased eKYC and global credential verification in the DigiLocker platform The platform has evolved from a secure document storage service into a trust layer that connects citizens with ministries and departments according to an official statementNational eGovernance Division NeGD Ministry of Electronics and IT organised the National Conference on DigiLocker to discuss and showcase how DigiLocker evolves into a cornerstone of trust convenience and efficiency across government education and industry sectorsThe conference underscored the transformative role of DigiLocker in facilitating paperless governance inclusive education and secure digital servicesDigiLocker serves as the trust layer connecting citizens ministries and departmentsenabling secure interoperable and accountable digital governance Our vision is a future where every digital interaction is trusted every citizen empowered and every institution accountable said S Krishnan Secretary of MeitY who chaired the conferenceKrishnan said that the platform advances Indias digital journey from connectivity to capability service delivery to selfreliance and now from digitalisation towards trustAbhishek Singh Additional Secretary of the Ministry of Electronics and IT outlined the future of DigiLocker with AIbased eKYC and global credential verification positioning it as a global model for paperless governancePresentations were made on integration of Digi Locker with Pension and Treasury systems in Maharashtra and with over 500 services through Sewa Setu Portal in Assam the statement notedSeven states including Assam Himachal Pradesh Madhya Pradesh Meghalaya Kerala Maharashtra and Mizoram have been recognised as DigiLocker Accelerators for their distinct achievementsDigiLocker allows citizens to access verify and share IDs financial credentials and certificates securely IANS https://dailyworld.in/business/govt-plans-ai-based-ekyc-global-credential-verification-in-digilocker-647497.html Sat, 08 Nov 2025 12:59:00 +0530 https://dailyworld.in/business/kerala-okays-rs-1-441-crore-nabard-funded-projects-to-boost-rural-and-infrastructure-sectors-647502.html Thiruvananthapuram Nov 8 The Kerala government has given inprinciple approval for infrastructure projects worth Rs 144124 crore under Tranche 31 of the NABARDs Rural Infrastructure Development Fund RIDF aimed at strengthening Keralas agricultural irrigation and rural infrastructure The National Bank for Rural and Agriculture Development NABARD is funding the infrastructure projectsThe decision was taken by the HighPowered Committee chaired by the Chief Secretary A Jayathilak which reviewed project proposals against the States normative allocation of Rs 550 crore under the trancheThe Forest Department will receive Rs 15964 crore for setting up rapid response units forest station complexes and improving office infrastructureThe Electricity Department has been allotted Rs 19970 crore to install 5689 solarpowered pumps for farmers under the Agriculture Departments schemesIn the irrigation sector the Water Resources Department has been recommended Rs 17642 crore to renovate canals under the Pazhassi and Karapuzha irrigation projectsThe Kerala Land Development Corporation will implement six projects worth Rs 261 crore in Thrissur Kollam Pathanamthitta Ernakulam and Malappuram districts to rejuvenate paddy fields and pondsThe Social Justice Department has been allotted Rs 73 crore for constructing a 250bed rehabilitation hospital and an academic block at NIPMER while the Agriculture Department will receive Rs 17614 crore for 26 Smart Krishibhavans across 12 districts infrastructure development in Alappuzhas paddy clusters and wildlife conflict mitigation works in KannurThe Department of Coastal Shipping and Inland Navigation has secured Rs 217 crore for new boat jetties at Mayyil and Mullakodi and six bridges across the TS CanalThe Kerala State Warehousing Corporation will build modern storage facilities with Rs 4492 crore and the Kerala Agro Machinery Corporation will upgrade its infrastructure for Vajra 120 power tiller production with Rs 3645 croreThe Local SelfGovernment Department has been allocated Rs 165 crore for liquid waste management and road restoration projects while the Soil Survey Department will undertake soil conservation works worth Rs 6946 croreAdditionally Rs 243 crore worth of fisheries infrastructure projects including harbour upgrades at Chellanam Cheruvathur and Manjeshwaram will be taken up under the Fisheries and Aquaculture Infrastructure Development Fund FIDF at concessional interest rates IANS https://dailyworld.in/business/kerala-okays-rs-1-441-crore-nabard-funded-projects-to-boost-rural-and-infrastructure-sectors-647502.html Sat, 08 Nov 2025 13:19:00 +0530 https://dailyworld.in/business/rural-consumption-beats-urban-demand-gdp-growth-to-reach-68-pc-in-fy26-report-647521.html New Delhi Nov 8 Rural consumption continues to outperform urban demand in the country despite income tax cuts and GST 20 reforms aimed at boosting urban consumption a report said on Saturday The report from brokerage firm Motilal Oswal Financial Services Limited MOFSL said that rural consumption outshines because of income guarantee schemes better rainfall outcomes NBFCled credit growth easing input costs and steady MSPsMOFSLs base case projection was that real GDP growth will touch 68 per cent for FY26 with a 2030 basispoint upside if tariff uncertainties abate and a nominal GDP growth projection at 9 per centIt maintained that urban consumption has recovered since implementation of GST reforms and also from Q3FY25 but rural consumption outshinedThe brokerage firm said that rural consumption has been on a steady uptrend since H2FY25 strengthening further in Q2FY26 up 77 per cent YoY to its highest level in 17 quartersThe upturn was supported by firm growth in real agri and nonagri wages higher tractor and fertilizer sales and robust farm credit Better rainfall distribution and reservoir levels boosted sowing activity while easing input costs and steady minimum support price MSP procurement helped improve farm incomes the firm highlightedRegarding rural spending the report detailed that the highfrequency October data including Eway bills petrol consumption mall footfalls and PMI readings were broadly positive in the first full month of GST 20 implementationUrban spending remained subdued through Q2 FY26 but improved after GST reforms through the festive season with jewellery demand staying firm in October despite high gold pricesRural demand is expected to remain on a steady upward trajectory underpinned by rising real wages Healthy rabi prospects coupled with lower rural inflation should help to sustain the ongoing improvement in consumption the report noted IANS https://dailyworld.in/business/rural-consumption-beats-urban-demand-gdp-growth-to-reach-68-pc-in-fy26-report-647521.html Sat, 08 Nov 2025 14:09:00 +0530 https://dailyworld.in/business/bse-places-rrp-semiconductors-8-others-in-weekly-trading-basket-with-surveillance-measures-647530.html Mumbai Nov 8 Bombay Stock Exchange BSE has imposed a new weekly trading surveillance measure on nine stocks including RRP Semiconductors to address excessive volatility following unusual price movements in the stocks The exchange announced that starting November 10 2025 new measures will apply to companies exclusively listed on BSE under specific groups that trade above Rs 100 have a 2 per cent price band and possess a priceearnings PE ratio greater than 500 or negative and that have reached the upper price band for two consecutive weeksIn continuation of our endeavour to maintain market integrity and curb excessive price movement in securities listed exclusively on the BSE trading platform a need has been felt to further strengthen the extant surveillance measures the exchange said in a statementBSE included nine stocks in this measure including Citizen Infoline Colab Platforms Dugar Housing Developments EMA India Mardia Samyoung Capillary Tubes Company Omansh Enterprises Oswal Overseas RRP Defense and RRP SemiconductorSecurities placed under this measure can only trade once a week either on Monday or the first trading day of the week within a 1 per cent price band BSE announced that identification of stocks will occur weekly on Fridays or the last trading day of the week with quarterly reviews for exiting the framework and with a minimum onemonth retentionBSE also said that the new framework will be in addition to all other prevailing surveillance measures being imposed by the exchanges from time to timeThe exchange also clarified that the shortlisting of securities under this framework is purely on account of market surveillance and should not be construed as an adverse action against the concerned company IANS https://dailyworld.in/business/bse-places-rrp-semiconductors-8-others-in-weekly-trading-basket-with-surveillance-measures-647530.html Sat, 08 Nov 2025 14:38:00 +0530 https://dailyworld.in/business/indian-smartphone-market-set-to-witness-moderate-growth-in-2025-5g-leads-647533.html New Delhi Nov 8 The Indian smartphone market is set to witness moderate growth in 2025 with shipments growing in single digits according to a new report adding that the market is poised for sustained momentum driven by 5G upgrades rising premiumisation and growing consumer demand for connected device ecosystems According to CyberMedia Research CMR Indias smartphone market grew 7 per cent yearonyear YoY growth driven by festive cheer accelerated 5G adoption and a strong premium push led by Apple Vivo and MotorolaApple led Indias smartphone market by value in Q3 2025 with 30 per cent share and Samsung followed with 22 per cent together accounting for over a bulk of the market Vivo led the 5G smartphone market with a 18 per cent market share followed by Samsung at 16 per centThe ongoing festive and yearend sales will further accelerate shipments with premium and uberpremium segments remaining key growth engines led by flagship models from Apple Samsung and OnePlus said Pankaj Jadli AnalystIndustry Intelligence Group at CMR5G smartphones accounted for 89 per cent of total shipments in the quarter up 16 per cent YoY Interestingly 5G smartphones in the Rs 6000Rs 10000 price band surged over 1600 per cent YoY underscoring rising demand for affordable 5GThe democratisation of 5G connectivity especially in the subRs 10000 segment is reshaping consumer upgrade trends and will steer the next wave of smartphone growth in IndiaThe festive season along with aggressive promotional campaigns and easy EMI schemes drove consumer upgrades reshaping Indias valueformoney and affordable 5G smartphone segment While premium smartphones continued doubledigit growth feature phones declined as users increasingly transitioned to smartphones said Menka Kumari Senior AnalystIndustry Intelligence Group IIG CMRIn Q3 2025 the 2G feature phone segment declined 14 per cent YoY while 4G feature phones declined sharply by 24 per cent YoY said the report IANS https://dailyworld.in/business/indian-smartphone-market-set-to-witness-moderate-growth-in-2025-5g-leads-647533.html Sat, 08 Nov 2025 14:40:00 +0530 https://dailyworld.in/business/nifty-midcap-150-nifty-50-emerge-as-top-performers-in-october-647547.html New Delhi Nov 8 Nifty Midcap 150 and Nifty 50 emerged as top performers across all market segments in the month of October rising 479 per cent and 451 per cent respectively a report said on Saturday All market cap segments such as large mid small and microcaps posted positive returns as the Nifty 500 climbed 429 per cent Nifty Next 50 rose 292 per cent the report from Motilal Oswal Mutual Fund saidMeanwhile the Nifty Microcap 250 and Nifty Smallcap 250 surged 393 per cent and 372 per cent respectively during the monthSectorally realty led with a 92 per cent gain on the back of sustained housing demand the release noted adding that all sectors delivered positive returnsThe midcap benchmark namely the Nifty Midcap 150 has shown growth of 321 per cent 1093 per cent amp 560 per cent in last 3 months 6 months and 1 year the fund house saidThe large cap benchmark Nifty 50 has surged 385 per cent 570 per cent and 627 per cent during the same period the release notedThe Nifty 500 rose 347 per cent 763 per cent and 450 per cent over the specific time periods it addedIT index gained 611 per cent but remains down over 11 per cent YoY Banking stocks continued to show strength with the Bank Index rising 575 per cent in October and posting 324 per cent 488 per cent and 1224 per cent growth across the 3month 6month and 1year periods the release saidDefence sustained its strong longterm trajectory rising 363 per cent in October The sector grew impressive 461 per cent 1412 per cent and 2817 per cent gains over the specified time periods the release notedThe fund house noted that inflation eased sharply supporting the RBIs decision to continue with its current policy stance while GST collections remained robust reflecting resilient domestic activity IANS https://dailyworld.in/business/nifty-midcap-150-nifty-50-emerge-as-top-performers-in-october-647547.html Sat, 08 Nov 2025 15:46:00 +0530 https://dailyworld.in/business/india-eu-reaffirm-commitment-to-comprehensive-and-balanced-trade-pact-647429.html New Delhi Nov 7 India and the European Union EU had a weeklong discussion as part of the ongoing effort for a comprehensive and balanced trade agreement the Ministry of Commerce and Industry said on Friday A team of negotiators from the EU visited India to have a comprehensive discussion on the proposed freetrade agreement FTAA senior team of negotiators from the European Union EU visited New Delhi from November 3 to 7 2025 for negotiations with Indian counterparts on the proposed IndiaEU Free Trade Agreement FTA the ministry said in a statementThe weeklong discussions were part of ongoing efforts to advance negotiations towards a comprehensive balanced and mutually beneficial trade agreementThe deliberations covered a wide range of chapters including goods services investment trade sustainable development rules of origin and technical trade barriers the statement notedAs part of the negotiations Commerce Secretary Rajesh Agrawal held detailed meetings with the European Commissions Director General for Trade Sabine Weyand to take stock of the progress achieved across negotiating tracksThe twoday stocktake meetings held on November 56 in New Delhi reviewed key outstanding issues in the IndiaEU FTA negotiations Both sides agreed to further accelerate efforts towards achieving a balanced trade agreementThe Commerce Secretary reaffirmed Indias commitment to achieving an outcome that promotes economic growth and development while ensuring a fair and balanced distribution of benefitsHe also emphasised the need for clarity and predictability in the implementation of emerging EU regulatory measures including the Carbon Border Adjustment Mechanism CBAM and the proposed new steel regulationBoth sides noted with satisfaction the substantive progress made across several negotiating areas and agreed to sustain the positive momentum The discussions helped narrow divergences and a common understanding was reached on many issuesThe importance of continued technicallevel engagement in the coming weeks was underscored to bridge remaining gaps and work towards the shared objective of concluding the IndiaEU FTA negotiations at the earliestThe negotiations and stocktake meetings reflected the strong commitment on both sides to deepen the IndiaEU partnership and to finalise an ambitious and forwardlooking agreement that fosters resilient sustainable and inclusive economic growth IANS https://dailyworld.in/business/india-eu-reaffirm-commitment-to-comprehensive-and-balanced-trade-pact-647429.html Fri, 07 Nov 2025 23:09:00 +0530 https://dailyworld.in/business/lic-has-passed-full-benefit-of-gst-rate-cut-to-customers-ceo-doraiswamy-647192.html New Delhi Nov 6 Life Insurance Corporation CEO amp Managing Director R Doraiswamy said on Thursday that the company has passed on the full benefit of the recent Goods and Services Tax GST exemption to its customers In a statement after the LICs Q2 results Doraiswamy said We at LIC have ensured that all intended benefits of GST changes are passed on to the customers This move makes life insurance more affordable for policyholders and is expected to help increase insurance penetration across India aligning with the national goal of Insurance for All by 2047The government has as part of GST 20 exempted all individual life and health insurance premiums from GST effective September 22 2025 Previously life insurance premiums were subject to GST rates of up to 18 per centLIC expects that exemptions on life insurance products will boost business volumes support topline growth and provide opportunities to optimise expensesDoraiswamy said that the value of new business at the end of Q2 FY26 for the public sector life insurer has gone up to 176 per cent versus 162 per cent last yearLIC has maintained its market leadership with an overall market share of 5941 per cent based on firstyear premium incomeLICs annual premium equivalent APE growth in the first half of FY26 was muted attributed to last years master circular and a complete revamp of products to comply with the September 30 deadline the CEO saidHe attributed the subdued performance to a high base in the previous year but expressed optimism for robust growth in the second half We are seeing good traction in the second half of the current year he addedThe company expects business to post a faster growth rate due to the GST rate cutOn the nonparticipating nonpar segment LIC reported growth but said it is not targeting a specific market share The company has been focusing on nonpar products since its listing We think with 3631 per cent we have reached enough momentum on nonpar and definitely with all the efforts we have taken in the past we hope for it to stabilise We are not exactly targeting a number Doraiswamy saidThe insurers digitalisation initiatives are progressing steadily with internal testing and pilot runs underway A new platform version is expected to launch soon and it will continue to evolve he saidLIC on Thursday reported a robust 32 per cent increase in standalone net profit to Rs 1005339 crore for the second quarter of the current financial year compared with the corresponding figure of Rs 762086 crore in the same period of the previous financial yearThe life insurers net premium income grew 55 per cent yearonyear to Rs 126 lakh crore during the JulySept quarter from 12 lakh crore in the same period last year while the solvency ratio increased to 213 per cent from 198 per cent in the yearago period IANS https://dailyworld.in/business/lic-has-passed-full-benefit-of-gst-rate-cut-to-customers-ceo-doraiswamy-647192.html Fri, 07 Nov 2025 00:36:00 +0530 https://dailyworld.in/business/france-us-germany-lead-october-fpi-inflows-in-indian-stock-market-647236.html Mumbai Nov 7 Foreign portfolio investors FPIs returned to the Indian stock markets in October reversing three months of outflows with France as the largest contributor investing 258 billion in equities and almost 152 million in debt according to NSDL data Collectively FPIs infused over 166 billion into equities in October The US and Germany were also strong buyers investing around 520 million each in equities and contributed approximately 765 million and 309 million respectively to debt instrumentsThe renewed inflows were supported by robust corporate earnings the US Federal Reserves rate cut and growing optimism over the possibility of USIndia trade talks progressing soonIreland and Malaysia also turned buyers bringing in 400 million and 342 million into equities along with 138 million and 68 million in debt Hong Kong invested 177 million in equities while Denmark and Norway injected around 100 million each the data showedSingapore recorded an equity outflow of 98 million but offset it with more than 260 million in debt purchases Other countries collectively sold over 3 billion in October the data showedForeign inflows surged alongside a robust market rally in October with the Sensex and Nifty each rising 45 per centFIIs however reversed the trend in the early week of November with analysts warning that significant short selling by foreign institutional investors FIIs is outpacing domestic institutional and retail buyingThey noted that the effectiveness of ongoing FII selling and reallocating funds to cheaper markets has encouraged additional shorting Analysts indicated that short covering might lead to a trend reversal but no immediate triggers are in sightFII selling has reduced the prices of fairly valued large caps particularly in banking and pharmaceuticals where growth prospects continue to be bright analysts said IANS https://dailyworld.in/business/france-us-germany-lead-october-fpi-inflows-in-indian-stock-market-647236.html Fri, 07 Nov 2025 10:53:00 +0530 https://dailyworld.in/business/bharti-airtel-shares-drop-following-singtel-related-block-sale-647264.html Mumbai Nov 7 The stock of Bharti Airtel went down about 448 per cent in intraday trading on Friday reaching a low of Rs 2001 following the trading of 51 crore shares in the block deal window with Singapore Telecommunications Singtel as the likely seller The transaction reportedly occurred at a floor price of Rs 2030 per share reflecting a 31 per cent discount to Airtels previous close of Rs 2095Singtel was set to offload about 08 per cent of its stake in the telecom operator according to multiple reportsThe deal is reportedly valued at around Rs 10300 crore according to the term sheet indicating that the Singtel arm assigned JP Morgan India as the sole broker to oversee the block deal and after contacting numerous institutional investors to build the book for the dealThis is the second offloading of Bharti Airtel shares by Singtel after the firm sold a 12 per cent stake in Bharti Airtel for approximately 2 billion at Rs 1814 per share in May this year Following the sale Airtels share price had risen by about 15 per cent to Rs 2095Bharti Airtel shares have gained Rs 7100 up 368 per cent over the past month and advanced by Rs 404 or 2534 per cent year to dateBharti Airtel had reported an 89 per cent yearonyear YoY jump in consolidated net profit for the JulySeptember quarter of the current financial year Q2 FY26 The companys profit rose to Rs 6791 crore compared to Rs 3593 crore in the same quarter last financial year according to its stock exchange filingIts consolidated revenue from operations grew 257 per cent YoY to Rs 52145 crore up from Rs 41473 crore in Q2 FY25 driven by strong performance across its mobile and data segments IANS https://dailyworld.in/business/bharti-airtel-shares-drop-following-singtel-related-block-sale-647264.html Fri, 07 Nov 2025 12:08:00 +0530 https://dailyworld.in/business/capital-markets-central-to-viksit-bharat-push-mfs-hold-huge-opportunity-sebi-chairman-647291.html Mumbai Nov 7 SEBI Chairperson Tuhin Kanta Pandey on Friday said that Indias sustained economic strength will be significantly driven by its capital markets which are essential for the countrys progress towards the Viksit Bharat goal and crucial for capital formation Pandey said at an event here that capital markets are instrumental in achieving the countrys developmental aspirations adding that companies have raised approximately Rs 2 lakh crore from the primary market this year indicating robust investors confidenceThere is a deep well of domestic capital waiting to be deployed Pandey said adding that SEBI is committed to simplifying and speeding up the capitalraising process enabling businesses to access funds more efficientlyWe are facilitators of capital formation and our goal is to help businesses raise capital seamlessly to power Indias growth and transformation the SEBI Chairperson saidHe characterised the regulators approach as optimum regulation which adjusts guardrails without stifling innovationWeve made several regulatory changes and will continue a consultative approach he addedPandey highlighted structural opportunities pointing out that mutual fund assets under management are below 25 per cent of GDP with urban participation at approximately 15 per cent and rural participation at 6 per centTheres huge opportunity in deepening mutual fund penetration Pandey said noting that 22 per cent of noninvestors aware of mutual funds plan to invest in the next yearThe SEBI Chairman added that the regulator will conduct a comprehensive review of shortselling and securities lending and borrowing norms to align them with global standardsPandey however admitted that Indias securities lending market is underdeveloped compared to other markets reiterating commitment to reforms aimed at enhancing transparency liquidity and investorfriendliness IANS https://dailyworld.in/business/capital-markets-central-to-viksit-bharat-push-mfs-hold-huge-opportunity-sebi-chairman-647291.html Fri, 07 Nov 2025 13:39:00 +0530 https://dailyworld.in/business/rbi-governor-says-its-not-regulators-job-to-take-decisions-for-bank-boards-647295.html Mumbai Nov 7 Stressing that Indian banks are far more mature today than they were a decade ago RBI Governor Sanjay Malhotra said on Friday that the Central Bank does not aim to micromanage things adding that no regulator should substitute for boardroom judgment and each case has to be looked at with merit by a regulated entity Addressing the State Bank of Indias SBI Banking and Economics Conclave here in the financial capital he said regulators need to keep in mind the credit and deposits expansion improved asset quality and profitability along with surge in returns on assets and equityHe further stated that we need to allow the regulated entities to take decisions based on the merits of each caseAccording to Malhotra the role of a regulator is like a gardener and Central Bank also monitors the growth of a plant and prunes unwanted growth to shape a collective orderly beautiful gardenLast month the RBI unveiled 22 measures including allowing banks to finance acquisitions increasing limits on loans against shares and laying out draft norms for transitioning to expected credit loss ECL framework for loan loss provisioningAccording to Malhotra the RBI is aiming to make rulemaking more open driven by data and evidence after due public consultation adding that supervisory actions have enabled effective backstop to moderate or prune unsustainable growth and shape a robust resilient and beautiful banking systemHe further stated that the SBI which is Indias largest public sector lender has transformed from being in loss in 2018 to now becoming a 100 billion company due to the regulatory and structural reformsThe introduction of the Insolvency and Bankruptcy Code IBC in 2016 and the resolution mechanisms established under the Pursuant Resolution Paradigm through outofcourt workout frameworks have fundamentally transformed Indias credit culture he mentioned IANS https://dailyworld.in/business/rbi-governor-says-its-not-regulators-job-to-take-decisions-for-bank-boards-647295.html Fri, 07 Nov 2025 13:57:00 +0530 https://dailyworld.in/business/gold-etfs-attract-record-net-inflows-in-india-add-850-million-in-oct-647305.html Mumbai Nov 7 Indias gold exchangetraded funds ETFs saw 850 million in net inflows in October taking the total to a record 305 billion in 2025 to date the highestever for a single year according to the World Gold Council WGC data October inflows were approximately 6 per cent lower than Septembers 911 million but it marked the secondlargest monthly inflow in AsiaContinued positive flows for the fifth consecutive month took the assets under management AUM to 113 billion as per the dataOverall global gold ETF inflows reached 82 billion in October placing the bullion market set to achieve one of its strongest years on recordIndia ranked third globally in ETF inflows during October following the US with 633 billion and China with 451 billion Japan followed India with 4995 million of inflows while France recorded 312 millionMeanwhile several European markets saw outflows led by the UK with 35 billion followed by Germany and ItalyGlobal gold ETFs total AUM rose 6 per cent monthonmonth to 503 billion by the end of October with total holdings up 1 per cent at 3893 tonnesThe price of 10 grams of 24carat gold slipped to Rs 120231 on Friday according to data published by the India Bullion and Jewellers Association IBJA amidst renewed interest in profit bookingTechnically golds key makeorbreak level stands at 3855 while silver is defending the 4670 support zone The gold has support at Rs 119870119280 while resistance is at Rs 121090121600 Silver has support at Rs 146450145750 while resistance is at Rs 148340 149280 said Rahul Kalantri VP Commodities Mehta Equities LtdAnalysts said that the dollar index has eased from its 3month peak and uncertainty around the US government shutdown is driving investors toward safehaven assets Further rising geopolitical tensions are also lending support to the golds rally IANS https://dailyworld.in/business/gold-etfs-attract-record-net-inflows-in-india-add-850-million-in-oct-647305.html Fri, 07 Nov 2025 14:17:00 +0530 https://dailyworld.in/business/how-adanis-rs-30-000-crore-bhagalpur-power-project-will-change-bihars-fortunes-forever-647327.html AhmedabadNew Delhi Nov 7 The 2400 MW Bhagalpur Power Project being developed by the Adani Group with an outlay of Rs 30000 crore marks a turning point in Bihars economic story bridging its energy gap reviving industry and creating opportunities for its 135 crore citizens For the first time in decades the state is witnessing a wave of serious private investmentThe plain fact is that for over half a century Bihar has remained on the margins of Indias industrial story Despite its demographic strength and strategic location the state has struggled to attract private investment or build a sustainable industrial baseThe data tell a sobering truth Bihars per capita GDP stands at barely 776 while its per capita power consumption 317 kilowatt hours kWh is the lowest among major Indian statesIn contrast Gujarat consumes over 1980 kWh per capita and has a GDP per capita of 3917This is not a mere coincidence Power and prosperity move together Where there is reliable electricity industries grow jobs are created and incomes riseWhere there isnt human potential migrates literally Bihar today supplies nearly 34 million workers to other states its youth are forced to seek livelihoods elsewhere because industry within the state has no power to thriveIt is against this backdrop that the Bhagalpur Pirpainti Power Project being developed by the Adani Group with an investment commitment of Rs 30000 crore takes on historic significance It is not just a project it is Bihars opportunity to plug into Indias growth grid and finally claim its share of industrial progressBihar has seen little private industrial activity in half a century In the past five years alone it has recorded virtually no new largescale projects The states dependence on agriculture remains high nearly 50 per cent of its working population is engaged in farming forestry or fishing while only 57 per cent are employed in manufacturingThe 2400 MW Bhagalpur Power Project originally conceived by the Bihar State Power Generation Company Ltd BSPGCL in 2012 was revived by the government in 2024 through a transparent ebidding process after earlier attempts failedFour credible bidders Adani Power Torrent Power Lalitpur Power Generation and JSW Energy participated Adani Power emerged as the lowest bidder at Rs 6075 per kWh a tariff lower than comparable bids in Madhya Pradesh Rs 622Rs 630 per kWhNotably no land transfer was involved The land acquired over a decade ago for the project remains fully owned by the Bihar government leased at a nominal rent under the Bihar Industrial Investment Promotion Policy 2025 After the project term it reverts automatically to the stateIn an era where investor confidence depends on transparency and governance the Bhagalpur model stands out as a template for responsible investment balancing public ownership with private efficiencyBihars electricity demand has grown sharply in recent years but supply has not kept pace The states installed generation capacity of about 6000 MW lags behind its peak demand of 8908 MW FY25 forcing it to import power from the national gridAccording to the Central Electricity Authority CEA the demand is projected to almost double to 17097 MW by FY35 Without new generation projects the state risks widening its energy deficit limiting industrial expansion weakening job creation and constraining overall growthThe Bhagalpur project can help fill this critical gap By adding 2400 MW to Bihars grid it will supply nearly onefourth of the states projected additional power needs over the next decade according to people close to the developmentMoreover infrastructure investments of this magnitude generate vast employment As housing and infrastructure expert V Suresh notes every Rs 1 crore invested in infrastructure creates 200250 manyears of employment across 70 tradesBy that metric the Bhagalpur project alone could create millions of mandays of work offering Bihars unskilled and semiskilled workers local opportunities in construction logistics operations and allied servicesAccording to people in the know a reliable power supply will also open the door to downstream industries expansion of manufacturing zones and the development of logistics and transport corridorsunlocking Bihars potential in food processing textiles engineering and MSMEsBihars challenge has never been its people it has been its power The Bhagalpur project signals a crucial shift in the states development trajectory from subsidydriven survival to investmentled growth It embodies what Bihar needs most confidence from credible investors infrastructure that scales and energy that empowersFor too long Bihars youth have left home to light up other states factories and cities The Bhagalpur project could finally begin to reverse that flow bringing power purpose and prosperity back to where they belong IANS https://dailyworld.in/business/how-adanis-rs-30-000-crore-bhagalpur-power-project-will-change-bihars-fortunes-forever-647327.html Fri, 07 Nov 2025 14:59:00 +0530 https://dailyworld.in/business/kospi-dips-nearly-2-pc-on-woes-over-valuation-us-china-trade-conflict-647345.html Seoul Nov 7 After choppy trading South Korean shares ended 18 per cent lower on Friday capping a turbulent week as bigcap tech shares lost ground amid concerns over an artificial intelligence AI bubble and renewed trade tensions between the United States and China The benchmark Korea Composite Stock Price Index KOSPI tumbled 7269 points or 181 percent to close at 395376 after touching an intraday low of 388732 reports Yonhap news agencyTrade volume was moderate at 3667 million shares worth 186 trillion won US128 billion with losers outnumbering winners 677 to 211Foreigners and institutions unloaded local shares worth 4722 billion won and 2281 billion won respectively while retail investors continued their buying spree purchasing 6959 billion wonThis week the KOSPI suffered severe volatility reaching a record high of over 4200 on Monday but plunging nearly 3 percent on WednesdayThe KOSPI started off weak tracking overnight losses on Wall Street sparked by revived fears over the stretched valuation of AIrelated shares and data showing a cooling labour marketThe Dow Jones Industrial Average fell 084 percent the techheavy Nasdaq composite dipped 19 percent and the SampP 500 went down 112 percentThe latest data from Challenger Gray amp Christmas Inc revealed that US companies announced 153074 job cuts last month marking almost a threefold increase from the same month last yearIn the early afternoon the KOSPI once tumbled over 3 percent as media reports suggested the White House has decided not to allow Nvidia to sell its latest scaleddown AI chips to China stoking concerns the trade tensions between the worlds two largest economies will once again escalate according to Seo Sangyoung an analyst at Mirae Asset SecuritiesIn addition Chinas exports decreased 11 percent in October marking the first onyear drop since March 2024 fueling concerns South Koreas exports may also decrease Seo notedIn Seoul market bellwether Samsung Electronics lost 131 percent to 97900 won and its chipmaking rival SK hynix dipped 219 percent to 580000 won dragged down by AI bubble woesLeading carmaker Hyundai Motor retreated 186 percent to 264000 won and its sister Kia dropped 17 percent to 110100 wonTop battery maker LG Energy Solution pulled back 138 percent to 463500 won and its smaller rival Samsung SDI plunged 497 percent to 306000 wonElectric equipment manufacturer HD Hyundai Electric nosedived 651 percent to 818000 won while staterun Korea Electric Power slid 434 percent to 44100 won Major power plant builder Doosan Enerbility declined 177 percent to 77900 wonDefence shares lost big with Hanwha Aerospace losing 485 percent to 932000 won and LIG Nex1 shooting down 1653 percent to 401500 wonMajor shipbuilder Hanwha Ocean was among the few gainers jumping 309 percent to 126800 wonKakao the operator of the countrys dominant mobile messenger soared 346 percent to 62800 won after delivering strongerthanexpected earningsThe local currency was quoted at 14569 won against the greenback at 330 pm sharply down by 92 won from the previous session to reach a sevenmonth lowIt marked the first time since April that the currency slipped below the psychologically crucial 1450 won threshold as foreign selling of local stocks added pressure on the currencyBond prices which move inversely to yields closed lower The yield on threeyear Treasurys rose 6 basis points to 2894 percent and the return on the benchmark fiveyear government bonds added 5 basis points to 3043 percent IANS https://dailyworld.in/business/kospi-dips-nearly-2-pc-on-woes-over-valuation-us-china-trade-conflict-647345.html Fri, 07 Nov 2025 15:26:00 +0530 https://dailyworld.in/business/india-set-to-exceed-68-pc-gdp-growth-in-fy26-cea-nageswaran-647371.html Mumbai Nov 7 Chief Economic Adviser V Anantha Nageswaran said on Friday that Indias private capital expenditure remains robust despite global uncertainty and the country is projected to achieve GDP growth exceeding 68 per cent in current fiscal FY26 Speaking at an event here he indicated a potential upward revision of GDP growth following Q2 data citing a recovery in private capital expenditure and increased foreign inflowsThe CEA noted that the first five months of the year have already seen net FDI inflows meaningfully higher than the last two years Nageswaran added that FY 202425 has been a very good year for private capex countering perceptions of slowdownNageswaran said that private capex which fell short in FY24 has rebounded strongly in FY25 indicating that the investment momentum is picking up paceThe CEA highlighted the importance of a robust regulatory and legal framework in enabling success across sectors including correcting inverted duty structuresHe said that Indias strategy should prioritise plugging into global supply chains and enhancing domestic manufacturing capabilities instead of attempting to onshore all productionNageswaran said that a USIndia tariff deal could be finalised soon He characterised Indias recent increase in consumption as primarily a supplyside expansion fuelled by strong investment momentumEarlier at the same event SEBI Chairperson Tuhin Kanta Pandey noted that Indias sustained economic strength and progress to Viksit Bharat goal will be significantly driven by its capital marketsHe also mentioned that companies have raised approximately Rs 2 lakh crore from the primary market this year indicating robust investors confidencePandey highlighted structural opportunities pointing out that mutual fund assets under management are below 25 per cent of GDP with urban participation at approximately 15 per cent and rural participation at 6 per cent IANS https://dailyworld.in/business/india-set-to-exceed-68-pc-gdp-growth-in-fy26-cea-nageswaran-647371.html Fri, 07 Nov 2025 16:59:00 +0530 https://dailyworld.in/business/indian-market-recovers-early-losses-amid-buying-in-banking-fin-services-stocks-647372.html Mumbai Nov 7 The domestic equity indices ended the session slightly lower on Friday erasing early losses due to buying in banking and fin services sectors heavyweights in afternoon trade and support from certain positive Q2 results Sensex closed at 8321628 down 9473 points or 011 per cent The 30share index opened marginally lower at 8315015 against last sessions closing of 8331101 The index remained volatile during the session hitting an intraday high and low of 8339011 and 8267095 respectively amid a mixed approach from investorsNifty 50 ended the session on 2549230 down 17 points or 007 per centDomestic equities rebounded from early losses as buying emerged at key support levels though it may be premature to call this a trend reversal amid mixed earnings cautious global cues and persistent FII outflows said analystsSelect segments found support from Q2 results with broader indices outperforming led by a sharp rally in financials especially PSU banks on account of rising investor interest driven by speculation around an FDI cap hike and sector consolidation Going forward markets will closely monitor US shutdown and tariffrelated developments with USIndia and USChina deals to assess the durability of the current momentum he addedBharti Airtel Tech Mahindra Trent HCL Tech Hindustan Unilever ITC SBI TCS Ultratech Cement and Tata Motors Passenger Vehicle settled in negative territory Tata Steel Mahindra and Mahindra ICICI Bank BEL Adani Ports Infosys and PowerGrid closed higherSectoral indices remained volatile experiencing a mixed approach from investors Nifty FMCG fell 274 points or 049 per cent and Nifty IT declined 220 points or 062 per cent Meanwhile Nifty Auto rose 153 points or 057 per cent Nifty Bank increased 322 points or 056 per cent and Nifty Fin Services ended the session 205 points or 076 per cent higherThe broader market followed suit as well Nifty smallcap 100 dipped 29 points or 016 per cent and Nifty 100 settled flat and Nifty midcap 100 surged 374 points or 063 per cent IANS https://dailyworld.in/business/indian-market-recovers-early-losses-amid-buying-in-banking-fin-services-stocks-647372.html Fri, 07 Nov 2025 16:59:00 +0530 https://dailyworld.in/business/us-india-trade-negotiations-may-see-breakthrough-by-november-end-niti-aayog-ceo-647381.html Mumbai Nov 7 NITI Aayog CEO BVR Subrahmanyam on Friday said that the ongoing USIndia trade negotiations may see a breakthrough by the end of the month adding that the country must lift its investment rate to 3536 per cent of the GDP Hopefully by the end of the month we may hear some news on that front he said at a media event here adding that the negotiations are on trackHe said the National Manufacturing Mission will be operational by November proposing sectoral clusters across 15 sectors and 75 locations to establish globallycompetitive manufacturing hubsHe opined that India needs to increase its investment rate to 3536 per cent of the GDP each year to maintain growth of 89 per cent up from the current rate of approximately 3031 per centIndias economic growth positions it as the brightest spot in the global economy he said adding that other nations will be forced to engage with India with its unique strengths of size market depth innovation capacity and talent poolThe NITI Aayog CEO emphasised the need for sustained openness consistency in policy and a strong emphasis on skilling to achieve developednation statusEven if other nations impose tariffs India must stay a worldclass open economy he saidSubrahmanyam emphasised policy priorities labelling the National Manufacturing Mission as the biggest announcement in the last budgetSubrahmanyam stated that foreign investors are increasingly drawn to Indias market and cost competitiveness However he cautioned that reducing bureaucracy is essential to enhance the ease of doing business reiterating the principle of minimum government maximum governanceIf I had just one rupee to invest Id put it on skilling and education he said emphasising the importance of human capital He pointed out that Indian students average six to seven years of schooling compared to 13 to 14 years in South Korea IANS https://dailyworld.in/business/us-india-trade-negotiations-may-see-breakthrough-by-november-end-niti-aayog-ceo-647381.html Fri, 07 Nov 2025 18:13:00 +0530 https://dailyworld.in/business/cii-meet-to-connect-international-investors-with-indias-most-promising-ventures-647391.html Mumbai Nov 7 The Confederation of Indian Industry CII on Friday said that the upcoming CII MampE Global Investor Meet will connect international investors with Indias most promising ventures through curated oneonone meetings The CII announced the launch of the investor meet at the 12th annual CII BIG Picture Summit to be held on December 12 in MumbaiThe initiative launched in collaboration with WAVES Bazaar aims to unlock the full potential of Indias media and entertainment MampE sector by integrating investment with companies to fuel the next wave of growth according to the Ministry of Information and BroadcastingWAVES Bazaar a leading platform for business networking and project pitching in the MampE sector will integrate its successful B2B meeting format and project showcases featuring initiatives from its existing projects and WAVES Film Bazaar into the CII Marketplace during the summitThe Summit themed The AI Era Bridging Creativity and Commerce will bring together leaders from government and industry to chart a roadmap for the growth and transformation of Indias Media and Entertainment MampE sectorThe Summit is being organised in collaboration with the Ministry of Information and Broadcasting Government of India Sanjay Jaju Secretary Ministry of Information amp Broadcasting and Gaurav Banerjee MD and CEO Sony Pictures Network India are chairing the SummitThe initiative is set to catalyse both global and domestic investment into Indias rapidly expanding MampE sector covering film streaming gaming animation VFX live entertainment and moreIndias MampE industry despite its rich history has thrived largely on private passion and capital CIIs Investor Meet is a major step to change that said Shibashish Sarkar Chairman of the CII Global MampE Investor SummitFor the first time were bringing global investors and Indian MampE enterprises together in a curated oneonone format This summit is not just a generic expo but a true matchmaking event aimed at showcasing Indian companies as viable exciting investments I see this as the beginning of a journey Sarkar addedThe Summit will also feature participation from WAVEX and WAVES Creatosphere contributing to a dynamic environment for startup collaboration and business growth IANS https://dailyworld.in/business/cii-meet-to-connect-international-investors-with-indias-most-promising-ventures-647391.html Fri, 07 Nov 2025 18:57:00 +0530 https://dailyworld.in/business/sensex-projected-to-touch-94-000-by-2026-end-worst-is-over-for-indian-equities-report-647393.html Mumbai Nov 7 Indian equities are expected to see incremental foreign inflows and recent market movements imply the worst of the underperformance is over presenting an opportunity for diversification away from the global AI rally a report said on Friday We are overweight Indian equities from the Asia perspective with an end2026 index target for Sensex at 94000 according to the report from HSBC Global Investment ResearchAfter underperforming Asia by 30 per cent in the past 12 months we think the worst is over for Indian equities the report said defending its upgrade to overweight IndiaHerald van der Linde CFA Head of Equity Strategy Asia Pacific reported that Indian equities are currently the biggest underweight in global emerging market GEM portfolios and only a quarter of the funds the firm tracked are overweight on IndiaIndia offers a hedge and diversification to those who feel uncomfortable with the ongoing AI rally India is likely to be an outsized beneficiary of any additional money coming into the EM region the report mentionedA potential reduction in US tariffs would likely be a big boost However risks to our upgrade include a delay to the earnings recovery further diversion of global flows into the AI theme and less domestic appetite for equities the report saidThe research firm said that valuations now are not as much of a headwind as they were a year ago adding that the Indian market now offers value compared to Chinese equitiesWe think earnings have bottomed in India and expect to see a broadbased recovery in 2026 Banks were a massive drag on growth this year but as deposits are rolled over margins will expand in the coming quarters the report saidThe technology sector is also likely to experience increasing demand Consumer names including autos are poised to benefit from GST reductions lower inflation and lower interest rates it noted IANS https://dailyworld.in/business/sensex-projected-to-touch-94-000-by-2026-end-worst-is-over-for-indian-equities-report-647393.html Fri, 07 Nov 2025 19:01:00 +0530 https://dailyworld.in/business/cost-of-home-cooked-veg-and-non-veg-thalis-declines-further-in-oct-as-prices-cool-647394.html New Delhi Nov 7 The cost of homecooked vegetarian and nonvegetarian thalis fell as much as 17 per cent and 12 per cent yearonyear in October respectively primarily because of a steep decline in the prices of vegetables and pulses a Crisil report said on Friday Potato prices slid 31 per cent on a high base wherein production in Rabi season 20242025 rose by 34 per cent onyear while tomato prices fell 40 per cent onyear on the back of higher supplies from western and southern markets according to Crisils monthly indicator of food plate costAccording to Pushan Sharma Director Crisil Intelligence onion prices fell owing to an increase in supply of stock from the rabi season 202425 ahead of the kharif crop arrivals in the market from NovemberPulses saw price corrections as well supported by an increase in imports of Bengal gram yellow pea and black gram In the medium term onion prices could see a moderate rise as excess rainfall in August and September in key producer states such as Karnataka and Maharashtra has delayed kharif transplantation and raised yield concerns Sharma mentionedPotato prices are expected to remain firm in November because of low supplies of the early rabi crop but may ease after cold storages release their stocks by midDecemberTomato prices are likely to stay soft amid continued kharif arrivals according to the reportPrices of pulses may inch up in the near term reflecting the impact of excess rainfall on kharif yields and the recent imposition of a 30 per cent import duty on yellow pea Should the government extend the import duties to other pulses prices could witness a steeper rise said SharmaThe cost of a nonvegetarian thali fell relatively less because broiler prices fell a moderate 6 per cent onyear Broilers account for about half of the thali cost Lower prices of vegetables and pulses however helped bring down the overall cost IANS https://dailyworld.in/business/cost-of-home-cooked-veg-and-non-veg-thalis-declines-further-in-oct-as-prices-cool-647394.html Fri, 07 Nov 2025 19:02:00 +0530 https://dailyworld.in/business/cpi-inflation-in-october-to-moderate-further-outlook-remains-benign-economists-647401.html New Delhi Nov 7 Based on the trends seen in the movement of essential commodities economists on Friday said that CPI inflation in October is likely to moderate further to 04 per cent06 per cent compared with 15 per cent in September supported also by a favourable base The Bank of Baroda BoB Essential Commodities Index BoB ECI continued to contract and declined by 36 per cent in October and further by 38 per cent in November up to November 6In saying so food inflation has been trending lower largely due to the continued deflation seen in vegetables category specifically TOP tomato onion and potato vegetables This in turn is supported by a significant pickup in mandi arrivals said Aditi Gupta Economist BoBIn fact Unified Portal for Agricultural Statistics UPAJ data shows that mandi arrivals of tomato onion and potato are higher by 143 per cent 305 per cent and 231 per cent respectively in the AprilOctober period over the same period last yearA similar trend is expected to persist in the coming months too as the harvesting season sets in This is likely to lend a considerable degree of downward bias to Indias overall inflation outlook Gupta notedIn fact prices of TOP vegetables have seen a sustained fall this year Prices of onion declined by 512 per cent in October marking the strongest pace of contraction since December 2020 Retail prices of tomato also declined sharply by 399 per cent in October compared with a decline of 83 per cent in SeptemberPrices of potatoes too have seen a sustained decline in the last seven months In October retail prices of potato declined by 313 per cent The CPI weighted trajectory for TOP in September based on retail prices have fallen on an aggregate basis by 295 per centAmong other items major pulses have also continued to witness a deflationary trend in October Within this group price of Tur dal has dropped most significantly by 294 per cent the largest decline since January 2018The outlook for inflation also looks benign supported by tailwinds from GST rate rationalisation and lower global commodity prices said the report IANS https://dailyworld.in/business/cpi-inflation-in-october-to-moderate-further-outlook-remains-benign-economists-647401.html Fri, 07 Nov 2025 19:47:00 +0530 https://dailyworld.in/business/mini-launches-electric-suv-countryman-se-all4-in-india-647408.html New Delhi Nov 7 British automotive brand MINI has launched the allelectric MINI Countryman SE All4 in India on Friday with deliveries to begin shortly The compact electric SUV priced at Rs 6690000 exshowroom is available as a completely builtup unit CBU and can be booked at all MINI India authorised dealerships starting FridayThe Countryman SE All4 features allwheel drive powered by a lithiumion battery with a gross capacity of 6645 kWh offering a WLTP combined range of up to 440 km DC fast charging at 130 kW charges the battery from 10 to 80 per cent in approximately 29 minutes In contrast 22 kW AC charging achieves a full charge in about 3 hours and 45 minutesThe company claimed that the car delivers 313 hp and 494 Nm of torque achieving 0100 kmh in 56 seconds and a top speed of 180 kmhWarranty and support include a standard twoyear unlimitedkilometre warranty an eightyear or 160000kilometre highvoltage battery warranty and five years of 247 roadside assistanceThe car comes with a standard twoyear unlimitedkilometre warranty and the high voltage battery is covered by a warranty for 8 years or 160000 kilometresMultiple modes in the car include the raceinspired GoKart Mode to the energysaving Green Mode or the lively Vivid Mode the release saidThe standard allwheel drive system distributes its power precisely and reliably providing the sporty SUV with sufficient grip and traction even in challenging conditions it claimedThe car features advanced assistance systems such as Cruise Control and Parking Assistant Plus with 360 degree Camera and with Comfort Access the car is lockedunlocked automatically as it recognises the key is at a distance of less than 15 metres the release saidThe company also claimed that MINI Countryman SE All4 have features such as auto startstop function brake energy recuperation active cooling air ducts and electromechanical power steering IANS https://dailyworld.in/business/mini-launches-electric-suv-countryman-se-all4-in-india-647408.html Fri, 07 Nov 2025 19:56:00 +0530 https://dailyworld.in/business/justice-ashok-bhushan-reappointed-nclat-chairperson-647421.html New Delhi Nov 7 The Centre has approved the reappointment of Justice Ashok Bhushan former judge of the Supreme Court as Chairperson of the National Company Law Appellate Tribunal NCLAT According to a notification issued by the Department of Personnel and Training DoPT the Appointments Committee of the Cabinet cleared the Ministry of Corporate Affairs proposal to extend Justice Bhushans tenure in the NCLATThe Appointments Committee of the Cabinet has approved the proposal for reappointment of Justice Retd Ashok Bhushan as Chairperson National Company Law Appellate Tribunal NCLAT in the pay scale of Rs 250000 fixed per month with effect from the date he assumes charge till attaining the age of 70 years ie till July 4 2026 the notification statedJustice Bhushan who has previously served as Chief Justice of the Kerala High Court before his elevation to the Supreme Court took over as NCLAT Chairperson in November 2021The company appellate tribunal plays a crucial role in adjudicating matters under the Companies Act Insolvency and Bankruptcy Code IBC and the Competition ActElevated as a permanent judge of the Allahabad High Court in April 2001 Justice Bhushant went on to serve as Chairman of its Higher Judicial Service Committee and led several key committees In July 2014 he was sworn in as a judge of the Kerala High Court took over as Acting Chief Justice the following month and was appointed Chief Justice in March 2015 He was elevated to the Supreme Court on May 13 2016 and during his tenure was appointed Chairman of the Ravi Beas River Tribunal in July 2020 He demitted office upon retiring from the Supreme Court on July 4 2021 IANS https://dailyworld.in/business/justice-ashok-bhushan-reappointed-nclat-chairperson-647421.html Fri, 07 Nov 2025 21:57:00 +0530 https://dailyworld.in/business/unsubstantiated-rumours-rbi-dismisses-reports-of-selling-35-tonnes-of-gold--647423.html New Delhi Nov 7 The Reserve Bank of India RBI on Friday denied social media claims that it sold 35 tonnes of gold from its reserves calling them unsubstantiated rumours In a post shared by the PIB Fact Check Unit on X the central bank clarified that no such sale had taken place and urged the public to rely only on official sources for verified informationThe RBI also advised users to refer to its official website for accurate data and updatesReserve Bank of India through PIB Fact Check Unit has debunked claims that 35 tonnes of gold have been sold by RBI from its reserves RBI cautions against unsubstantiated rumours on social media For any information pertaining to RBI please visit the official website httprbiorgin the RBI posted on its official X handleThe clarification comes amid heightened global interest and volatility in the gold market as several major central banks continue to ramp up their gold purchases Emerging market economies in particular have been increasing their gold holdings to diversify away from the US dollar a trend that gained momentum after the freezing of Russias reserve assets in 2022This strategic accumulation has pushed golds share of total global reserves to over 20 per cent reinforcing its status as a sanctionproof store of valueMeanwhile analysts note that the ongoing rally in gold prices is also linked to whats known as the debasement trade the idea that political uncertainty could weaken the dollar and fuel inflation prompting investors to turn to gold as a safe havenHowever recent market data suggests otherwise as both the US dollar and Treasury yields have remained stable contradicting the notion of a weakening currency environment IANS https://dailyworld.in/business/unsubstantiated-rumours-rbi-dismisses-reports-of-selling-35-tonnes-of-gold--647423.html Fri, 07 Nov 2025 21:59:00 +0530 https://dailyworld.in/business/pakistans-textile-sector-on-brink-of-implosion-report-646913.html New Delhi Nov 5 With decades of poor governance illconceived subsidies and structural inefficiencies the textile sector in Pakistan known to be the countrys single largest export industry now stands at the brink of implosion according to a media report The textile sector once hailed as the backbone of Pakistans economy accounting for nearly 60 per cent of total exports has in recent years seen a significant decline with exports plummeting and imports rising Maldives Insight reportedCiting data from the Pakistan Textile Council PTC the report showed that textile exports in Pakistan fell 383 per cent yearonyear in the first quarter of FY26 to 761 billion down from 791 billion in the same period last yearIn September this year the country experienced the fifth contraction in six months with exports plunging 1171 per cent to 251 billion and imports rising 1349 per cent to 1697 billionWhile industry leaders have long warned against the situation shortterm fixesrebates bailouts and energy subsidies by successive governments have just temporarily inflated export figures The measures did nothing to build sustainable competitivenessIf urgent corrective measures are not taken Pakistan risks further closures of exportoriented units and reduced foreign investment This will not only mean job losses and industrial shutdowns but also a sharp decline in Pakistans foreign exchange earnings at a time when the country cannot afford such shocks PTC Chairman Fawad Anwar was quoted as sayingMeanwhile the Federation of Pakistan Chambers of Commerce amp Industry FPCCI in its latest policy brief described an inefficient and costly logistics system that swallows 156 per cent of GDP almost double the cost in advanced economiesThis means that before a single container of garments leaves the port it is already burdened with costs that make Pakistani exports unviable the report saidWith the countrys logistical collapse it has fallen completely off the World Banks Logistics Performance Index while its regional peers like India Vietnam and Bangladesh are steadily climbingThese countries with efficient ports modern rail systems and integrated supply chains have given exporters the edge to meet deadlines cut costs and expand market share the report saidIt also cited the use of outdated technology energy crises and policy inconsistency with frequent changes in tax regimes export facilitation programmes and import restrictionsWhile policymakers speak of revival plans and energy relief packages the data the shutdowns and the layoffs all point to a collapsing industry the report said IANS https://dailyworld.in/business/pakistans-textile-sector-on-brink-of-implosion-report-646913.html Thu, 06 Nov 2025 01:52:00 +0530 https://dailyworld.in/business/ncdc-disburses-rs-49-799-crore-to-boost-indias-cooperatives-in-2025-26-646919.html New Delhi Nov 5 The National Cooperative Development Corporation NCDC has maintained its strong growth trend by disbursing a robust amount of Rs 4979906 crore to various cooperatives nationwide from April to October 2025 during the current financial year according to an official statement issued on Wednesday NCDC a statutory organisation under the Ministry of Cooperation has over the years demonstrated a strong and sustained commitment to strengthening Indias cooperative ecosystem through continuous financial supportThe Corporations disbursements have grown impressively from Rs 573551 crore in 201415 to Rs 9518288 crore in 202425 reflecting its expanding outreach across sectorsA total of Rs 482368 crore was disbursed to women cooperatives between FY 202122 and FY 202425 strengthening womens participation in the cooperative sectorCumulatively as of March 2025 NCDC extended Rs 3331179 crore financial assistance to cooperative sugar mills across IndiaNCDC has played a key role in the success of Gujarat State Cooperative Marketing Federation Limited the Lahoul Potato Growers Cooperative Society in Himachal Pradesh the Jharkhand Womens SelfSupporting Poultry Cooperative Federation and the Vitthalrao Shinde Sahakari Sakhar Karkhana in Maharashtra these cooperative models exemplify the strength and reach of Indias cooperative movementThe objectives of NCDC are promoting strengthening and developing farmer cooperatives for increasing production productivity and instituting postharvest facilitiesIt also provides assistance for the development of cooperatives in sectors of processing storage cold chain and marketing of agricultural produce and the supply of seeds fertiliser and other agricultural inputsIn addition to agricultural initiatives NCDC supports incomegenerating cooperatives across various nonfarm sectors such as weaker section activities which include dairy livestock handloom sericulture poultry fishery scheduled caste and scheduled tribes women cooperatives etcBesides NCDC provides financial assistance to the cooperative sector for their economic development and social upliftment through NCDCsponsored schemes and various GoI schemes implemented by NCDCIn addition to promoting inclusivity and equity NCDC has extended Rs 5778 crore in loans over the last four years FY 202122 to FY 202425 to SCST cooperatives ensuring that the benefits of cooperative development reach every section of societyThrough this sustained increase in financial support NCDC has broadened its developmental footprint enabling cooperatives to upgrade infrastructure strengthen value chains and diversify into highgrowth sectorsThe notable rise in disbursements reflects not only growing demand for cooperativeled development but also NCDCs enhanced institutional capacity to deliver timely and targeted credit Collectively these interventions demonstrate NCDCs pivotal role in advancing an inclusive marketresponsive and selfreliant cooperative ecosystem in India the statement added IANS https://dailyworld.in/business/ncdc-disburses-rs-49-799-crore-to-boost-indias-cooperatives-in-2025-26-646919.html Thu, 06 Nov 2025 02:42:00 +0530 https://dailyworld.in/business/pakistan-inflation-hits-2025-high-of-62-pc-amid-afghan-border-closures-646922.html New Delhi Nov 5 Pakistans inflation surged to 62 per cent in October the highest in a year amid floods and Afghan border closures affecting food supplies a recent media report said The surge was caused by floods in Punjab and ongoing closures of key trade crossings with Afghanistan especially at border points such as Torkham and Spin Boldak which disrupted food supplies and increased prices the report from Khaama Press News Agency saidAccording to the Pakistan Bureau of Statistics food prices in Pakistan rose by 18 per cent from September the report addedThe Afghanbased media house cited officials saying inflation had eased below 6 per cent by mid2025 after hitting nearly 30 per cent last year but surged again due to temporary supply shocks and base effectsIn August severe floods ravaged farmland and industrial zones across Punjab killing over 1000 people and displacing 25 million The disaster also destroyed major crops worsening supply constraints the report mentionedThe government projected inflation to remain between 5 per cent and 6 per cent in October but later admitted that flood damage and blocked trade routes with Afghanistan have increased the prices of essential goodsEconomists however said Pakistans inflationary pressures stem not only from climate shocks but also from persistent governance weaknesses and external dependence according to the reportA report in October said that Pakistans total public debt hit 286 billion by the end of the 202425 fiscal year and its borrowing has reached an unsustainable level up 13 per cent YoYThe borrowings suggest that deep structural flaws that have become the hallmark of Pakistans fiscal management it said adding that servicing debt rather than financing growth remains the single largest use of public resourcesPakistans Ministry of Finances Annual Debt Review 2025 concedes that the debttoGDP ratio has climbed to 70 per cent up from 68 per cent the previous year IANS https://dailyworld.in/business/pakistan-inflation-hits-2025-high-of-62-pc-amid-afghan-border-closures-646922.html Thu, 06 Nov 2025 02:47:00 +0530 https://dailyworld.in/business/manganese-major-moil-clocks-best-ever-october-production-of-16-lakh-tonnes-646929.html New Delhi Nov 5 Indias largest manganese ore producer MOIL continued its robust growth trajectory with the highestever October production of 16 lakh tonnes registering a growth of 91 per cent over the same month last year according to a statement issued by the Ministry of Steel on Wednesday During the first seven months of FY26 the company has recorded production of 1104 lakh tonnes which represents an 85 per cent growth over the same period of the previous yearContinuing its strong focus on exploration MOIL has achieved its highestever exploratory core drilling of 57275 metres during the period AprilOctober 2025 the statement saidThe public sector company has maintained its strong drill pace after having achieved its best ever Q2 exploratory core drilling of 21035 metres which represents a 41 per cent growth over the corresponding figure of the same quarter of the previous yearCommenting on the performance MOIL chairman and managing director Ajit Kumar Saxena said It is encouraging that the upward trend in production during the first seven months has been maintained The MOIL team is fully geared up to register yet another impressive performance in the current yearMOIL is a Schedule A Miniratna CategoryI Public Sector Undertaking that is engaged in the business of mining and supplying manganese At present the company operates its underground and opencast mines located in the Nagpur and Bhandara districts of Maharashtra and Balaghat district of Madhya PradeshThe MOIL Board has also approved the payment of an interim dividend of Rs 402 per share for the financial year 202425 during the declaration of the Q3 results This represents a 15 per cent increase over last years interim dividend of Rs 350 per shareBesides the Board approved five shafts sinking projects including two ventilation shafts for its Dongri Buzurg Mine Chikla Mine and Kandri Mine worth Rs 886 crore approximate These shafts will help the company to sustain as well as increase its existing production level in the coming years IANS https://dailyworld.in/business/manganese-major-moil-clocks-best-ever-october-production-of-16-lakh-tonnes-646929.html Thu, 06 Nov 2025 02:53:00 +0530 https://dailyworld.in/business/100-5g-labs-set-up-across-india-to-boost-6g-research-ecosystem-govt-646930.html New Delhi Nov 5 India has set up 100 5G labs across the country to develop use cases and enhance the 6G research and development ecosystem the Department of Telecommunications DoT said on Wednesday The governments collaborative platform Bharat 6G Alliance has also signed 10 international collaborations with global 6G bodies aiming for a 10 percent share of global 6G patents by 2030 an official statement saidNeeraj Mittal Secretary Telecom made these comments as DoT led the thematic session on Digital Communication at the Emerging Science Technology and Innovation Conclave hereMittal emphasised that is the bedrock of all productive activity and that Indias telecom revolution has a direct bearing on national economic growth adding that India has achieved one of the fastest 5G rollouts globallyThe 100 5G labs will position the nation for leadership in 6G technologies he said Mittal highlighted that the Governments approach to nextgeneration communication is multipronged supporting research and development encouraging domestic manufacturing and building strong bridges between academia industry and governmentHe informed that over 100 RampD projects dedicated to 6G are currently being supported with a focus on advancing Open RAN indigenous chipsets AIbased intelligent networks and regulatory sandboxes to foster innovationThe event featured discussions on private networks and Indias telecom goals from industry leaders and a panel discussion on advancing indigenous technologiesThe panel also explored extending the 5G ecosystem in India advancing indigenous PNT through the NavIC L1 signal and building disruptive technology stacks from D2M to 6GESTIC 2025 took place from November 3 to 5 attracting over 3000 participants from from academia research institutions industry and government along with Nobel laureates eminent scientists innovators and policymakers IANS https://dailyworld.in/business/100-5g-labs-set-up-across-india-to-boost-6g-research-ecosystem-govt-646930.html Thu, 06 Nov 2025 02:53:00 +0530 https://dailyworld.in/business/keralas-milma-signs-mou-to-export-dairy-products-to-australia-new-zealand-646932.html Thiruvananthapuram Nov 5 The Kerala Cooperative Milk Marketing Federation KCMMF popularly known as Milma on Wednesday signed a tripartite Memorandum of Understanding MoU to export its products to Australia and New Zealand expanding its overseas footprint beyond the Gulf markets Milma the brand name of the Kerala Cooperative Milk Marketing Federation is a leading dairy cooperative known for its wide range of highquality milk and milk productsFounded to support dairy farmers Milma ensures fair returns to producers while maintaining strong consumer trust in quality and ethical sourcingThe agreement was signed here by KCMMF Managing Director Asif K Yusuf RG Foods Executive Director Vishnu G and Midnightsun Global proprietor Bindu Ganesh Kumar in the presence of Milma Chairman K S ManiUnder the MoU RG Foods will handle the complete logistics chain from product pickup at Milmas facilities to transportation customs clearance and freight forwarding while ensuring compliance with the import laws of the destination countriesMidnightsun Global will act as a coordinating partner to facilitate operations and execution without holding ownership rights over the productsCalling the agreement a milestone in Milmas overseas market outreach Mani said the brands products have already gained strong acceptance in major Gulf countries particularly among nonresident Keralites NRKsBoth Australia and New Zealand have sizeable NRK populations making them promising markets for Milmas products he addedYusuf said the first phase of exports will include paneer payasam mix and dairy whitener with plans to expand the range in future phases Milma will manufacture and package products in compliance with the specifications and international quality standards set under the agreementAccording to the terms RG Foods will bear all expenses related to logistics customs and distribution along with all associated export and transit risksMani also noted that the biggest beneficiaries of Milmas market expansion are its member dairy farmers with the cooperative passing on 925 per cent of its profits to farmers last yearMilma has reported a consolidated turnover of Rs 4327 crore for FY 202425 IANS https://dailyworld.in/business/keralas-milma-signs-mou-to-export-dairy-products-to-australia-new-zealand-646932.html Thu, 06 Nov 2025 02:54:00 +0530 https://dailyworld.in/business/dlc-campaign-40-over-55-lakh-digital-life-certificates-generated-in-first-4-days-646942.html New Delhi Nov 5 More than 52 lakh digital life certificates have been generated since the beginning of the nationwide Digital Life Certificate DLC Campaign 40 on November 1 said Union Minister of State Independent Charge for Public Grievances Dr Jitendra Singh on Wednesday Speaking at its formal launch in the national campaign Singh said that the campaign marks a significant step in the governments drive to simplify life certification for pensioners especially the super seniorsThe monthlong DLC campaign 40 which began on November 1 and will continue till November 30 has already seen over 55 lakh Digital Life Certificates generated within the first four days against the monthlong target of two crore Singh saidCampaign 40 aims to cover nearly 2000 districts cities and towns across the country through 2500 camps and coordinated by 1250 nodal officersThe initiative adopts a saturation approach to ensure that every pensioner irrespective of location or mobility constraints can submit their life certificate seamlessly said the Ministry of Personnel Public Grievances and PensionsThe DLC Campaign 40 is being conducted in collaboration with 19 Pension Disbursing Banks India Post Payments Bank IPPB Pensioners Welfare Associations UIDAI MeitY EPFO Railways CGDA and the Department of Telecommunications to reach every pensioner across the country including those in remote and rural areas the Ministry saidThis year special emphasis is being laid on promoting Face Authentication Technology developed with full technical support from MeitY and UIDAI to make the process more seamless and convenient for the elderly the Ministry addedMeanwhile Singh stated that during the DLC Campaign 30 last year 5273 lakh DLCs were submitted using face authentication while 7264 lakh were from EPFO pensionersCampaign 30 of last year was conducted in 1984 locations across 845 districts and cities in November 2024 during which 162 crore DLCs were generated including 4978 lakh from Central Government pensioners Of these over 85200 were from pensioners above 90 years and more than 2200 were from pensioners aged above 100 years Singh saidHe noted that the idea behind introducing a Digital Life Certificate was born out of empathy for the elderlyIt appeared inhuman to ask senior citizens to physically prove that they are alive to receive their pension he said adding that the government turned this challenge into an opportunity to introduce biometric and face authentication technologies for a noble causeThe Minister highlighted that the initiative has evolved into a global success story with the unique experiment in governance now being studied internationally IANS https://dailyworld.in/business/dlc-campaign-40-over-55-lakh-digital-life-certificates-generated-in-first-4-days-646942.html Thu, 06 Nov 2025 03:03:00 +0530 https://dailyworld.in/business/air-india-issues-alert-for-flyers-over-delays-in-flights-646943.html New Delhi Nov 5 Air India on Wednesday alerted its passengers that the departure of some of the airlines flights will be delayed due to a thirdparty connectivity network issue that had impacted checkin systems at some airports The Tata Group airline said the system has now been restored However some of the Air India flights may continue to be delayed for some time as the situation normalises progressively according to a statementPassengers flying with us today may check their flight status on httpsairindiacominenmanageflightstatushtml before heading to the airport and allow extra time for their journey the Air India statement saidMeanwhile Air India had said on Tuesday that it was operating a relief flight to ferry the passengers of the San FranciscoDelhi flight which was diverted to Mongolia due to a suspected technical issueAir India flight AI174 operating from San Francisco to Delhi via Kolkata on November 2 made a precautionary landing at Ulaanbaatar after the flight crew suspected a technical issue en routeThe airline further said that along with local authorities and the Indian Embassy in Mongolia it has been looking after the passengers and crew including providing them with hotel accommodationGuests have been kept informed about the arrangements being made to fly them to Delhi At Air India the safety and wellbeing of our passengers and crew remain top priority an Air India spokesperson saidThe airline had said in an earlier statement that the aircraft landed safely at Ulaanbaatar and was undergoing the necessary checksIn the meantime Air India has been granted a temporary extension of flight duty time for twopilot Boeing 787 Dreamliner planes flying on European routes which have become longer due to the closure of Pakistani airspace the Directorate General of Civil Aviation DGCA said last weekThe extension was based on specific operational reasons linked to planes on European routes having to undertake longer flight paths following the shutdown of Pakistans airspace according to the civil aviation regulatorFor twopilot Boeing 787 operations the Flight Duty Time Limitation FDTL has been extended to 10 hours and 30 minutes from 10 hours and the Flight Duty Period FDP increased to 14 hours from 13 IANS https://dailyworld.in/business/air-india-issues-alert-for-flyers-over-delays-in-flights-646943.html Thu, 06 Nov 2025 03:05:00 +0530 https://dailyworld.in/business/science-rampd-advanced-materials-key-pillars-for-viksit-bharat-2047-csir-646944.html New Delhi Nov 5 Science research and development and advanced materials are the key pillars for Viksit Bharat 2047 said Dr Mrs N Kalaiselvi Director General Council of Scientific and Industrial Research CSIR on Wednesday Speaking at the technical session hosted by CSIR on Day 3 of the Empowering Science Technology and Innovation Conclave ESTIC 2025 in the national capital Kalaiselvi highlighted Indias advancements in advanced materials and manufacturingDuring the plenary session Kalaiselvi featured a diverse range of discussions on how advanced materials are redefining product realization industrial design and sustainabilityBreakthroughs in materials science clean energy biotechnology and emerging technologies will shape the countrys growth trajectory With CSIR and Indias premier scientific institutions leading cuttingedge research India is laying the foundation for a technologically empowered selfreliant and innovationdriven future she saidKalaiselvi added that ESTIC 2025 serves as an impactful platform where ideas science and advanced technologies intersect accelerating the realisation of a futureready and knowledgepowered BharatProf Giridhar Udapi Rao Kulkarni Former President JNCASR Bengaluru explained how the world is moving from matter to materials from raw elements to engineered structures designed with precision performance and purposeFrom semiconductors and composites to smart polymers advanced materials are unlocking nextgeneration technologies and realworld products powering Indias transformation from a Stone Age mindset to the Age of Technology Kulkarni saidWith nanoscale precision shape control and dimensional engineering scientific innovation can drive manufacturing breakthroughs that accelerate Indias vision for Viksit Bharat 2047 encapsulated in the continuum science that will lead to innovation manufacturing and then the product he addedThe session brought together leading scientists innovators and entrepreneurs to discuss transformative technologies shaping the nations innovation ecosystemESTIC 2025 with the theme Imagine Innovate Inspire has brought over 3000 participants from academia research institutions industry and government along with Nobel laureates eminent scientists innovators and policymakers IANS https://dailyworld.in/business/science-rampd-advanced-materials-key-pillars-for-viksit-bharat-2047-csir-646944.html Thu, 06 Nov 2025 03:06:00 +0530 https://dailyworld.in/business/mahindras-commercial-ev-manufacturer-surpasses-3-lakh-sales-milestone-646947.html New Delhi Nov 5 Subsidiary of Mahindra amp Mahindra Ltd Mahindra Last Mile Mobility Ltd informed on Wednesday that it has sold over 3 lakh electric commercial vehicles and claimed it is the first original equipment manufacturer in India to achieve this milestone The company also reported that it sold 1 lakh vehicles in just 12 monthsMahindras fleet of electric vehicles including the Treo range Zor Grand eAlfa threewheelers and Mahindra ZEO fourwheeler which have collectively covered over 5 billion kilometres and offset more than 185 kilotonnes of carbon dioxide equivalent to planting over 43 million trees the company saidThrough its early focus on EVs and concerted efforts to electrify the last mile mobility MLMML has been continuously working with multiple partners to develop the ecosystem thereby increasing customer adoptionThrough continuous innovation and incorporating customer feedback MLMML launched new and upgraded products in the last couple of years such as the Treo Plus sheet metal eAlfa Plus Zor Grand Range Plus and Mahindra ZEOWe are not just manufacturing EVs we are enabling livelihoods and shaping a cleaner future Through innovationdriven products we continue to strengthen our commitment to making electric mobility practical and accessible to everyone said Suman Mishra Managing Director and CEO of Mahindra Last Mile MobilityMLMML added that its customerfocused UDAY NXT programme offers benefits such as a Rs 20 Lakh driver accidental insurance cover and financial counsellingMLMML said that it recently introduced the refreshed NEMO platform on iOS Android and Web which enables drivers and fleet managers to remotely manage and monitor their vehiclesKey new features include multivehicle management within a single app geotracking service booking roadside assistance RSA extensive charging network locations and more the company noted IANS https://dailyworld.in/business/mahindras-commercial-ev-manufacturer-surpasses-3-lakh-sales-milestone-646947.html Thu, 06 Nov 2025 03:08:00 +0530 https://dailyworld.in/business/woman-allegedly-cheats-srinagar-jewellers-of-lakhs-of-rupees-646964.html Srinagar Nov 5 A woman fraudster allegedly cheated several jewellers in Srinagar of lakhs of rupees local dealers said on Wednesday According to the goldsmiths the woman has cheated several gold and copper dealers of valuables worth lakhs of rupees through deception and fake chequesAddressing a press conference here the dealers said that at least three jewellers ShaheHamdan Ornaments at Lal Bazar Maqdoomi Zevraat near Nawa Kadal and Zarger Jewellers at Soura have fallen victim to the same fraudster over the past few monthsThe goldsmiths said that the incidents took place between late July and late August this year involving losses amounting to more than Rs 17 lakh in totalDocuments displayed at the press briefing indicate that the accused posing as a customer would visit jewellery shops claiming she wished to show ornaments to her family before confirming the purchaseAfter gaining the shopkeepers trust she would take the ornaments and promise to return shortly only to switch off her phone and disappear In one case ShaheHamdan Ornaments at Lal Bazar reported a loss of ornaments worth around Rs 5 lakh on August 21The shops owner filed an FIR the next day at Lal Bazar Police StationMaqdoomi Zevraat near Kani Mazar Nawa Kadal suffered a similar fraud on August 8 with losses of approximately Rs 5 lakhThe complainant submitted a report to Police Post Bagiyas SrinagarZarger Jewellers at Soura reported being duped of ornaments worth Rs 7 lakh on July 29 The owner after approaching the Soura Police Station said the police had promised action and were verifying detailsAll three victims provided photographs video footage and fake bank cheques allegedly linked to a person identified as Ajaz Ahmad Khan described in documents as a historysheeter and gang memberThe cheques were reportedly used by the accused woman to convince shopkeepers of her authenticity before fleeing with the goods Police have initiated investigations into the matterThe victims appealed to the authorities at the press conference that efforts be made to recover the amount fraudulently taken by the imposter IANS https://dailyworld.in/business/woman-allegedly-cheats-srinagar-jewellers-of-lakhs-of-rupees-646964.html Thu, 06 Nov 2025 03:44:00 +0530 https://dailyworld.in/business/sensex-nifty-post-mild-gains-amid-positive-global-cues-647001.html Mumbai Nov 6 Indian benchmark indices opened in green on Thursday amid positive global cues led by gains in automobile stocks As of 925 am the Sensex was up 324 points or 039 per cent at 83783 and the Nifty edged up 67 points or 026 per cent to 25664The broadcap indices performed in contrast with benchmarks with the Nifty Midcap 100 down 010 per cent and the Nifty Smallcap 100 losing 024 per centAsian Paints SBI LampT NTPC were among the major gainers in the Nifty Pack while losers included Hindalco Shriram Finance Bajaj Finance Apollo Hospitals and Dr Reddys LabsAmong sectoral indices except for Nifty Media Nifty Metal and Financial Services all indices were in the green Nifty Auto was the major gainer up 091 per cent while FMCG gained 077 per cent Nifty Metal lost 101 per centIndia Incs secondquarter FY26 earnings season delivered a strongerthananticipated performance with a 14 per cent yearonyear earnings rise by companies in key sectors especially midcapsBrokerages noted that earnings upgrades outpaced downgrades after several quarters indicating rising confidence in corporate profitabilityAnalysts expect the resumption of sustained selling by FIIs and increasing FII short positions to weigh on markets for the near termThe holiday on Wednesday shielded the Indian market from mild turbulence in global markets The US Supreme Courts hearing on Donald Trump tariffs will be in focus for the markets in the coming days Observations by some judges that President Trump had overstepped his authority is a significant development said Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LimitedIf the final verdict is on these lines markets would be volatile with emerging markets especially India rallying smartly he addedAnalysts placed immediate resistance at 25700 followed by 25450 and 25800 On the downside support levels are identified at 25450 and 25500The US markets ended in the green zone overnight as Nasdaq added 046 per cent the SampP 500 moved up 017 per cent and the Dow lost 048 per centMost of the Asian markets were trading in the green during the morning session While Chinas Shanghai index added 088 per cent and Shenzhen inched up 139 per cent Japans Nikkei advanced 145 per cent while Hong Kongs Hang Seng Index added 169 per cent South Koreas Kospi added 158 per centOn the last trading session on Tuesday foreign institutional investors FIIs sold equities worth Rs 1883 crore while domestic institutional investors DIIs were net buyers of equities for the seventh straight session purchasing shares worth Rs 3516 crore IANS https://dailyworld.in/business/sensex-nifty-post-mild-gains-amid-positive-global-cues-647001.html Thu, 06 Nov 2025 12:45:00 +0530 https://dailyworld.in/business/panel-formed-to-finalise-new-wage-pact-for-tns-tiruppur-knitwear-workers-647008.html Chennai Nov 6 All associations representing manufacturers and exporters in the knitwear sector in Tiruppur Tamil Nadu have come together to form a joint committee to negotiate a new wage agreement with trade unions The decision follows the expiry of the previous fouryear wage pact which ended in September 2025The knitwear hub often referred to as the Knitwear Capital of India sustains nearly 22500 companies and provides employment to about 10 lakh workers including a large number of migrant labourersTraditionally all manufacturers associations in the region jointly negotiate a collective wage agreement with trade unions once every four years to ensure uniformity across the industry With the previous agreement expiring trade unions had been pressing for the immediate commencement of talks to revise wages and benefits Responding to this representatives from six major industry associations met earlier this week and unanimously decided to establish a joint committee to handle all discussions and negotiations related to the new pactThe newly formed committee will include administrators from key associations such as the Tiruppur Exporters Association TEA and the South India Hosiery Manufacturers Association SIHMA among othersThe panel is expected to hold its first round of talks with trade unions on November 20 Officials said the new agreement would be finalised within two months with elections to fill the remaining positions on the committee to be completed shortlyMeanwhile trade unions are preparing detailed proposals seeking significant increases in wages and allowances citing inflation and rising living costs They have demanded that both skilled and unskilled workers receive proportionate hikes with revisions to timebased and piecerate pay structuresIn addition to higher basic wages the unions are also pushing for enhanced benefits such as increased travel and tiffin allowances better housing and educational support and full implementation of statutory employee welfare schemes like the Employees State Insurance ESI and Provident Fund PFIndustry sources indicate that the negotiations are expected to be intense as manufacturers are balancing global market competitiveness with rising domestic labour costs However both sides have expressed optimism that a mutually beneficial agreement can be reached before the end of the year ensuring stability in one of Indias most vital exportoriented industries IANS https://dailyworld.in/business/panel-formed-to-finalise-new-wage-pact-for-tns-tiruppur-knitwear-workers-647008.html Thu, 06 Nov 2025 12:51:00 +0530 https://dailyworld.in/business/india-q2-earnings-exceed-expectations-led-by-midcap-outperformance-647013.html Mumbai Nov 6 The FY26 earnings season in the second quarter Q2 exceeded expectations driven by strong midcap performance despite some weakness in select smallcap pockets industry data showed Brokerage Motilal Oswal Financial Services reported a 14 per cent yearonyear earnings rise among companies that have declared results so far broadly in line with expectationsLargecap earnings rose 13 per cent in line with the broader universe while midcaps again outperformed expectations with a 26 per cent surge supported by technology cement metals PSU banks real estate and nonlending NBFCsSmallcaps lagged at 3 per cent growth as private banks nonlending NBFCs Technology Retail and Media weighed on performance Even so 69 per cent of smallcaps met or beat forecasts compared with 84 per cent of largecaps and 77 per cent of midcaps the data showedSectoral performance analysis showed that oil and gas and cement sectors showed highest sectoral gains as staterun fuel retailers led with a 79 per cent increase in profits while cement profits surged by 147 per centAlong with these sectors technology profits rose by 8 per cent capital goods by 17 per cent and metals by 7 per cent collectively accounting over 80 per cent of incremental profit growthEarnings for 27 Nifty firms that have reported results increased by 5 percent yearonyear driven by HDFC Bank TCS JSW Steel and Infosys while Coal India Axis Bank HUL Kotak Mahindra Bank and Eternal dragged performance Seven Nifty constituents fell short of estimates five exceeded forecasts and 15 met expectationsEarnings upgrades outnumbered downgrades for the first time in several quarters signalling a healthier market backdrop and improving confidence in India Incs profitability trajectory the MOFSL report saidWhile headline indices remain rangebound after a muted year underlying fundamentals are improving supported by moderating earnings cuts diversified sectoral leadership and robust midcap resilience it added IANS https://dailyworld.in/business/india-q2-earnings-exceed-expectations-led-by-midcap-outperformance-647013.html Thu, 06 Nov 2025 12:54:00 +0530 https://dailyworld.in/business/india-q2-fy26-earnings-exceed-expectations-led-by-midcaps-data-647014.html Mumbai Nov 6 The FY26 earnings season in the second quarter Q2 exceeded expectations driven by strong midcap performance despite some weakness in select smallcap pockets industry data showed Brokerage Motilal Oswal Financial Services reported a 14 per cent yearonyear earnings rise among companies that have declared results so far broadly in line with expectationsLargecap earnings rose 13 per cent in line with the broader universe while midcaps again outperformed expectations with a 26 per cent surge supported by technology cement metals PSU banks real estate and nonlending NBFCsSmallcaps lagged at 3 per cent growth as private banks nonlending NBFCs Technology Retail and Media weighed on performance Even so 69 per cent of smallcaps met or beat forecasts compared with 84 per cent of largecaps and 77 per cent of midcaps the data showedSectoral performance analysis showed that oil and gas and cement sectors showed highest sectoral gains as staterun fuel retailers led with a 79 per cent increase in profits while cement profits surged by 147 per centAlong with these sectors technology profits rose by 8 per cent capital goods by 17 per cent and metals by 7 per cent collectively accounting over 80 per cent of incremental profit growthEarnings for 27 Nifty firms that have reported results increased by 5 percent yearonyear driven by HDFC Bank TCS JSW Steel and Infosys while Coal India Axis Bank HUL Kotak Mahindra Bank and Eternal dragged performance Seven Nifty constituents fell short of estimates five exceeded forecasts and 15 met expectationsEarnings upgrades outnumbered downgrades for the first time in several quarters signalling a healthier market backdrop and improving confidence in India Incs profitability trajectory the MOFSL report saidWhile headline indices remain rangebound after a muted year underlying fundamentals are improving supported by moderating earnings cuts diversified sectoral leadership and robust midcap resilience it added IANS https://dailyworld.in/business/india-q2-fy26-earnings-exceed-expectations-led-by-midcaps-data-647014.html Thu, 06 Nov 2025 12:54:00 +0530 https://dailyworld.in/business/ola-electric-posts-rs-418-crore-net-profit-loss-in-q2-revenue-slips-43-pc-647027.html New Delhi Nov 6 Bhavish Aggarwalrun Ola Electric Mobility Ltd reported a consolidated net loss of Rs 418 crore for the JulySeptember period Q2 FY26 its exchange filing said on Thursday as revenue slipped Revenue from operations dropped 43 per cent yearonyear to Rs 690 crore in Q2 FY26 down from Rs 1214 crore in Q2 FY25 indicating a substantial decline in sales for the quarterHowever the electric twowheeler makers operating EBITDA loss narrowed to Rs 203 crore during the quarter from Rs 379 crore a year earlier indicating improved cost efficiencyThe companys auto segment delivered an EBITDA margin at 03 per cent by reducing Auto operating expense from Rs 308 crore to Rs 258 crore onquarter the release saidAfter the announcements of the results Ola Electrics stock fell to Rs 494 on the NSE down 66 paise during intraday trade posting a decline of 132 per cent from the previous closeFor the Auto segment we expect lower volumes than the Q1 guidance as we continue to focus on margin and cash discipline in a hyper competitive market the company said in its filingFor H2 FY26 Ola Electric targets total deliveries of approximately 100000 units This moderation in unit volumes will be complemented by volumes from its new vertical beginning in Q4 the company addedThe company recorded sales of 16034 escooters in October marking a 61 per cent decline from 41843 units sold in the same month last year according to data from the governments Vahan portalOn a fullyear basis we now expect FY26 consolidated revenue of around Rs 3000 Rs 3200 crore reflecting a balanced focus on profitability over volumes the company saidThe auto segment will continue to improve QoQ profitability We expect to exit Q4 with Auto gross margins around 40 per cent and segment EBITDA of around 5 per cent it added IANS https://dailyworld.in/business/ola-electric-posts-rs-418-crore-net-profit-loss-in-q2-revenue-slips-43-pc-647027.html Thu, 06 Nov 2025 13:04:00 +0530 https://dailyworld.in/business/centre-throws-open-booth-bookings-for-startups-in-waves-bazaar-at-iffi-goa-2025-647049.html New Delhi Nov 6 The Ministry of Information and Broadcasting has announced the opening of bookings for WaveX booths the exclusive startup showcase zone in Waves Bazaar at the International Film Festival of India IFFI Goa 2025 according to an official statement issued on Thursday The initiative aims to provide a platform for emerging startups in the AVGCXR Animation Visual Effects Gaming Comics and Extended Reality and entertainment sectors to connect with global industry leaders investors and production studiosScheduled from November 2024 2025 WAVES Bazar will be located in the vicinity of Film Bazaar the prime networking hub of IFFI known for its dynamic participation from filmmakers producers and media professionals from across the worldEach booth will be available at a nominal cost of Rs 30000 per stall on sharing basis The facilities being provided to participating startups include two delegate passes lunch and high tea evening networking opportunity and direct visibility among global film media and tech professionals the statement saidInterested startups can register at wavexwavesbazaarcom Limited stalls are available and allocation will be on a firstcome firstserved basis the statement addedWaveX is a national startup accelerator and incubation initiative of the Ministry of Information and Broadcasting dedicated to nurturing innovation and entrepreneurship in the AVGCXR and mediatech ecosystemThrough collaborations with leading academic industry and incubation networks WaveX empowers creators and startups to scale their ventures contributing to Indias growing creative economyThe International Film Festival of India IFFI founded in 1952 is one of Asias most significant film festivals celebrating excellence in world cinema and serving as a meeting ground for filmmakers artists and cine enthusiasts Held annually in Goa IFFI attracts participation from across the global film fraternity and acts as a catalyst for creative collaboration and opportunitiesThe 56th edition of the International Film Festival of India IFFI is set to take place from 20th to 28th November 2025 in Panaji Goa the statement added IANS https://dailyworld.in/business/centre-throws-open-booth-bookings-for-startups-in-waves-bazaar-at-iffi-goa-2025-647049.html Thu, 06 Nov 2025 13:55:00 +0530 https://dailyworld.in/business/indias-solar-module-manufacturing-capacity-set-to-touch-165-gw-by-march-2027-647053.html Mumbai Nov 6 Indias solar photovoltaic module manufacturing capacity is projected to increase to over 165 GW by March 2027 up from approximately 109 GW currently a report said on Thursday The strong government support in the form of the approved list of models and manufacturers ALMM basic customs duty on imported cells and modules and the productionlinked incentive scheme drove the growth the report from ratings agency ICRA saidThe report forecasts annual solar capacity installations at 4550 gigawatt direct current GWdc while annual module production is expected to reach 6065 GW and this discrepancy may lead to a supply surplus potentially prompting consolidation among smaller and pureplay module playersThe ALMM ListII for cells effective June 2026 has encouraged OEMs to increase cell manufacturing to approximately 100 GW by December 2027 up from the current 179 GW listed under ALMM the report notedFurther the recent imposition of US tariffs have redirected the supply from the export market to the domestic market it notedHowever the report anticipated that the vertically integrated manufacturers will benefit over the long term due to greater control over the supply chainAnkit Jain Vice President and CoGroup HeadCorporate Ratings ICRA said that operating profitability for domestic solar OEMs at 25 per cent in FY25 is likely to moderate due to competitive pressures and overcapacity buildupAs the ALMM requirement for solar cells is effective from June 2026 a significant scaleup in the cell manufacturing capacity along with its stabilisation in a timely manner remains critical in the near term he addedDependence on China for wafers ingots poses significant risks for the industrys transition given Chinas dominance in global supply and the potential geopolitical restrictions for backward integration the report noted IANS https://dailyworld.in/business/indias-solar-module-manufacturing-capacity-set-to-touch-165-gw-by-march-2027-647053.html Thu, 06 Nov 2025 13:58:00 +0530 https://dailyworld.in/business/sbi-to-divest-63-pc-stake-in-sbi-funds-management-limited-via-ipo-647072.html New Delhi Nov 6 State Bank of India SBI on Thursday announced to divest 32060000 equity shares or 63007 per cent of the total equity capital of SBI Funds Management Limited SBIFML through initial public offering IPO Additionally Amundi India Holding the other promoter of SBIFML will divest 18830000 equity shares being equivalent to 37006 per cent of the total equity capital of SBIFML with a total of 100013 per cent stake comprising 50890000 shares to be listed according to its stock exchange filingSBI Funds Management Limited SBIFML will be the third subsidiary of SBI to be listed after SBI Cards and SBI Life Insurance Considering SBIFMLs sustained strong performance and market leadership over the years it is considered an opportune time to launch the IPO process said SBI Chairman Challa Sreenivasulu SettyApart from maximising value realisation for existing stakeholders the IPO will create opportunities for general shareholders broaden market participation and lead to increased awareness of the products among a wider set of potential investors he addedBoth the promoters of SBIFML have jointly initiated the IPO which is expected to be completed in 2026 Indias largest public sector lender stated in the filingValerie Baudson Chief Executive Officer of Amundi stated Over the years SBI Funds Management Limited has established itself as the leader in Indias asset management industry It has grown successfully leveraging on the powerful distribution capacity of SBIs network in India combined with Amundis global expertise in asset managementEarlier SBI reported a 64 per cent yearonyear YoY increase in its consolidated net profit to Rs 2150449 crore for the second quarter Q2 of FY26 as compared to Rs 2021962 crore in the same period last financial year Q2 FY25The difference between interest earned and interest paid or the banks net interest income NII increased 328 per cent year over year to Rs 42984 crore from Rs 41620 crore in the same quarter of the previous yearAccording to its earlier regulatory filing its domestic net interest margin NIM fell to 309 per cent 18 basis points lower than it was a year ago at 327 per cent IANS https://dailyworld.in/business/sbi-to-divest-63-pc-stake-in-sbi-funds-management-limited-via-ipo-647072.html Thu, 06 Nov 2025 14:50:00 +0530 https://dailyworld.in/business/gold-gains-from-1-week-low-as-dollar-declines-amid-peak-wedding-season-demand-647082.html Mumbai Nov 6 IANS Gold rose significantly from its oneweek low on Thursday amid dollar decline increased safehaven buying and fresh demand ahead of the peak wedding seasonnbspThe rise came even as headwinds from strongerthanexpected US jobs data dampened expectations for another Federal Reserve rate cut this yearnbspThe price of 10 grams of 24carat gold was Rs 120100 during intraday trading according to data published by the India Bullion and Jewellers Association IBJAnbspMCX Gold December futures rose by 074 per cent to Rs 121410 per 10 grams at 210 pm MCX Silver December contracts rose 103 per cent to Rs 148884 per kg during the same periodThe dollar index fell approximately 020 per cent but stayed above the 100mark close to a fourmonth high Meanwhile US 10year yields remained just below their highest level in nearly a month weighing down on the bullionnbspADPs employment report indicated that US private employment rose by 42000 jobs in October surpassing estimates according to multiple media reportsnbspMarket analysts said that gold is maintaining its critical support level of 3870 while silver holds support at 4650 per troy ounce on a closing basisnbspThey expect precious metal prices to remain volatile this week amid volatility in the dollar index global financial markets and ahead of the US nonfarm employment dataGold and silver prices rebounded from a oneweek low supported by safehaven buying amid rising political uncertainty in the United States The US Presidents party losing the New York City mayoral elections has heightened concerns ahead of the upcoming midterm polls said Rahul Kalantri VP Commodities Mehta Equities LtdnbspStrong physical demand from China and Australia also provided support to precious metals he added Analysts placed golds support at Rs 119870119280 zones while resistance at Rs 121090121600 zone https://dailyworld.in/business/gold-gains-from-1-week-low-as-dollar-declines-amid-peak-wedding-season-demand-647082.html Thu, 06 Nov 2025 15:14:00 +0530 https://dailyworld.in/business/ola-electric-posts-rs-418-crore-net-loss-in-q2-revenue-slips-43-pc-647086.html New Delhi Nov 6 Bhavish Aggarwalrun Ola Electric Mobility Ltd reported a consolidated net loss of Rs 418 crore for the JulySeptember period Q2 FY26 its exchange filing said on Thursday as revenue slipped Revenue from operations dropped 43 per cent yearonyear to Rs 690 crore in Q2 FY26 down from Rs 1214 crore in Q2 FY25 indicating a substantial decline in sales for the quarterHowever the electric twowheeler makers operating EBITDA loss narrowed to Rs 203 crore during the quarter from Rs 379 crore a year earlier indicating improved cost efficiencyThe companys auto segment delivered an EBITDA margin at 03 per cent by reducing Auto operating expense from Rs 308 crore to Rs 258 crore onquarter the release saidAfter the announcements of the results Ola Electrics stock fell to Rs 494 on the NSE down 66 paise during intraday trade posting a decline of 132 per cent from the previous closeFor the Auto segment we expect lower volumes than the Q1 guidance as we continue to focus on margin and cash discipline in a hyper competitive market the company said in its filingFor H2 FY26 Ola Electric targets total deliveries of approximately 100000 units This moderation in unit volumes will be complemented by volumes from its new vertical beginning in Q4 the company addedThe company recorded sales of 16034 escooters in October marking a 61 per cent decline from 41843 units sold in the same month last year according to data from the governments Vahan portalOn a fullyear basis we now expect FY26 consolidated revenue of around Rs 3000 Rs 3200 crore reflecting a balanced focus on profitability over volumes the company saidThe auto segment will continue to improve QoQ profitability We expect to exit Q4 with Auto gross margins around 40 per cent and segment EBITDA of around 5 per cent it added IANS https://dailyworld.in/business/ola-electric-posts-rs-418-crore-net-loss-in-q2-revenue-slips-43-pc-647086.html Thu, 06 Nov 2025 15:21:00 +0530 https://dailyworld.in/business/godrej-properties-net-profit-falls-32-pc-sequentially-to-rs-403-crore-in-q2-647092.html Mumbai Nov 6 Godrej Properties Limiteds consolidated profit after tax PAT for the second quarter of the current financial year Q2 FY26 dropped 32 per cent sequentially to Rs 40299 crore as compared to Rs 59840 crore in the previous quarter Q1 FY26 according to an exchange filing on Thursday The real estate firms revenue from operations for the quarter under review rose 70 per cent quarteronquarter QoQ to Rs 74038 crore from Rs 43456 crore in the AprilJune period Q1 FY26In contrast revenue from operations declined nearly 32 per cent yearonyear YoY from Rs 109323 crore while and PAT jumped nearly 21 per cent from Rs 33379 crore in the same period a year ago Q2 FY25Receiving RERA approval for our Worli project marks an important step forward in our development timeline The location offers a rare combination of scale connectivity and visibility said Gaurav Pandey MD amp CEO Godrej Properties said Gaurav Pandey MD and CEO Godrej PropertiesThis project further strengthens GPLs presence in South Mumbai and aligns with our strategy of acquiring and developing highpotential urban land parcels We will aim to deliver a landmark development that offers its residents an outstanding quality of life he addedThe company informed that it has received the project registration certificate from the Maharashtra Real Estate Regulatory Authority MahaRERA for its upcoming residential development Godrej Trilogy located in Worli MumbaiThis is part of a joint development to redevelop a prime land parcel in one of the citys most coveted neighbourhoods The development will comprise three towers to be developed on a 263acre plot The gross estimated revenue potential of the total project is over Rs 10000 crore the company said in its exchange filingFollowing the development the shares of Godrej Properties fell over 3 per cent in intraday trade to hit an intraday low at Rs 218660 At around 336 pm the stock was trading at Rs 222610 down 293 per cent IANS https://dailyworld.in/business/godrej-properties-net-profit-falls-32-pc-sequentially-to-rs-403-crore-in-q2-647092.html Thu, 06 Nov 2025 15:25:00 +0530 https://dailyworld.in/business/kfc-operator-devyani-international-slips-into-losses-sequentially-by-rs-239-crore-in-q2-647110.html Mumbai Nov 6 Devyani International Limited the operator of popular quick service restaurant QSR brands like KFC and Pizza Hut on Thursday slipped into losses by Rs 239 crore in Q2 FY26 on the sequential basis from Rs 22 crore profit in the previous quarter this fiscal Q1 FY26 On the yearonyear basis the losses widened by a massive 367 per cent from the loss of Rs 49 crore in the same quarter last fiscal Q2 FY25 as per its stock exchange filingThe company attributed the losses to outofhome consumption getting impacted due to both Shraavana and Navaratri falling in the same quarter according to the exchange filing on ThursdayFurther unseasonal rains especially in eastern parts of the country during the crucial second half of September also weighed down on the gainsThe companys consolidated revenues grew to Rs 1377 crore posting a 13 per cent YoY growth The revenue surge was fuelled by the opening of 263 new outlets in the past year bringing the total store count to 2184 unitsThe company posted Rs 5723 crore revenues from KFC India up 53 per cent YoYThe EBITDA margin fell to 141 per cent in the second quarter down from 163 per cent a year earlier due in part to losses from its acquisition of Sky Gate Hospitality the parent company of Biryani by KiloIt also cited declining demand and strong competition from local restaurants as reasons for the downturn noting that urban consumption is just starting to recover after a period of slow growthThe company in April had announced tieups with three international brands New York Fries Tealive and Sanook Kitchen to strengthen its overall portfolioThe company announced that it saw strong momentum in the business revenue from Biryani By Kilo and Goila Butter Chicken from Skygate portfolio post Dussehra It added that integration of Skygate with DIL remains on track and remain poised to achieve brand contribution breakeven by March 2026 IANS https://dailyworld.in/business/kfc-operator-devyani-international-slips-into-losses-sequentially-by-rs-239-crore-in-q2-647110.html Thu, 06 Nov 2025 17:09:00 +0530 https://dailyworld.in/business/indian-equity-indices-end-lower-amid-selling-in-broader-markets-647113.html Mumbai Nov 6 The domestic equity indices closed lower on Thursday amid selling in broader markets and continued FII outflows Selling pressure in banking Financial Services and FMCG heavyweights dragged the market sentiment as wellSensex ended the session at 8331101 down 14814 points or 018 per cent The 30share index started the session in green at 8351669 against last days closing of 8345915 However the index fell due to selling in banking Financial Services and broader marketsNifty closed at 2550970 down 8795 points or 034 per centVolatility dominated the domestic market with broadbased profit booking seen amid continued FII outflows despite a supportive Asian market Early optimism from the inclusion of four Indian companies in the MSCI Global Standard Index and strong US macro data was offset by weak domestic PMI readings indicating softening sentiment said Vinod Nair Head of Research Geojit Investments LimitedMost sectors traded lower though IT stocks remained resilient supported by inline earnings and improvement in US macro data Amid overall caution selective buying emerged in fundamentally strong companies due to betterthanexpected Q2 earningsFrom the Sensex basket PowerGrid Eternal BEL Bajaj Finance ICICI Bank Titan NTPC Tata Steel Bharati Airtel Kotak Bank LampT and Bajaj FinServ were the top losers Asian Paint Mahindra and Mahindra TCS Maruti Suzuki and Tata Motors Passenger Vehicle ended the session in positive territoryThe majority of sectoral indices fell amid selling pressure Nifty Fin Services slipped 162 points or 060 per cent Nifty Bank decreased 272 points or 047 per cent and Nifty FMCG closed 103 points or 019 per cent down Meanwhile Nifty IT and Nifty Auto ended the session slightly upBroader followed the suit as well Nifty Small Cap 100 fell 255 points or 139 per cent Nifty Midcap 100 dipped 568 points or 095 per cent and Nifty 100 ended the session 129 points or 049 per cent lower IANS https://dailyworld.in/business/indian-equity-indices-end-lower-amid-selling-in-broader-markets-647113.html Thu, 06 Nov 2025 17:13:00 +0530 https://dailyworld.in/business/crypto-exchange-dunamu-faces-243-million-fine-over-customer-identification-violation-647115.html Seoul Nov 6 South Koreas financial watchdog on Thursday slapped a fine of 352 billion won 243 million on Dunamu the operator of the countrys top cryptocurrency exchange Upbit for violating customer identification obligations The Financial Intelligence Unit FIU under the Financial Services Commission said Dunamu did not comply with its obligations to verify the identities of users in about 53 million cases and committed other violations including failing to report 15 suspicious transactions reports Yonhap news agencyIn particular the company accepted photocopies or rephotographed image files of user portraits in which their identities could not be fully verified instead of requiring original documentsThere were also cases in which the address field of the customer identification documents was left blank or contained inaccurate or irrelevant information according to the FIUIn addition Dunamu violated its obligation to restrict transactions by users whose verification process had not been completed in 33 million casesWe have completed protective measures for investors and will make efforts to prevent a recurrence of such violations Dunamu said in a releaseThe FIU will give Dunamu 10 days to submit its opinion before finalising the fineEarlier in the day KT Corp South Koreas secondlargest mobile carrier was found to have concealed critical malware infections and failed to report the security breaches that led to a recent hacking and data theft incident a governmentled investigation revealedThe joint governmentprivate investigation team which is examining KTs recent cyberattack linked to illegal micro base stations said the company learned between March and July of 2024 that 43 of its servers had been infected with socalled BPFDoor malware and other malicious codeDespite detecting the infections which exposed customer data the company did not notify authorities and instead attempted to handle the issue internally according to the teamBPFDoor malware enables remote attackers to bypass firewalls and maintain longterm access to compromised systems It was also used in a separate hacking case involving industry leader SK Telecom Co reported earlier this year IANS https://dailyworld.in/business/crypto-exchange-dunamu-faces-243-million-fine-over-customer-identification-violation-647115.html Thu, 06 Nov 2025 17:15:00 +0530 https://dailyworld.in/business/cromptons-q2-net-profit-falls-41-pc-to-rs-75-crore-647128.html Mumbai Nov 6 Crompton Greaves Consumer Electricals Limited on Thursday reported a 41 per cent yearonyear YoY decline in its consolidated net profit for the JulySeptember period Q2 FY26 at Rs 7542 crore The electrical goods manufacturer had posted a profit of Rs 12807 crore in the corresponding quarter a year ago Q2 FY25The companys total revenue for the quarter under review stood at Rs 192896 crore up 154 crore YoY from Rs 191353 crore Sequentially the total revenue dropped over 93 crore or 46 per cent from Rs 202205 crore and net profit fell 39 per cent from Rs 12390 crore in the previous quarter Q1 FY26Meanwhile the Mumbaibased firms total expenses for Q2 FY26 declined significantly to Rs 2678 crore from Rs 4267 crore in Q2 FY25 and Rs 4219 crore in Q1 FY26Electrical consumer durables contributed the most Rs 137116 crore to its total revenue this quarter followed by butterfly products Rs 28335 crore and lighting products Rs 26106 croreDespite a challenging environment our welldiversified product portfolio remained resilient with strong momentum in pumps small domestic and kitchen appliances We believe GST 20 will act as a structural catalyst to consumption with benefits percolating to the durables segment in a phased manner said Promeet Ghosh MD and CEO of the companyDuring the current quarter the solar rooftop business secured its 1st ever order of Rs 52 crore followed by the largestever order of Rs 445 crore cumulating to a total of Rs 500 crore and 50000 units he addedThese orders are expected to provide a significant fillip to our directtoconsumer business and mark the beginning of a new growth engine backed by the companys proven excellence in execution and a robust supply chain network Ghosh said furtherThe shares of the company closed lower on Thursday following subdued Q2 earnings The stock closed at Rs 27755 down 201 per cent on NSE IANS https://dailyworld.in/business/cromptons-q2-net-profit-falls-41-pc-to-rs-75-crore-647128.html Thu, 06 Nov 2025 18:08:00 +0530 https://dailyworld.in/business/bitcoin-tumbles-below-100-000-amid-global-market-sell-off-646875.html Mumbai Nov 5 Bitcoin prices fell sharply on Wednesday briefly dipping below the 100000 mark amid heavy selling in the spot market The fall came as part of a broader global selloff in risk assets with investors increasingly worried about overvalued markets and fading risk appetiteThe worlds largest cryptocurrency dropped 37 per cent to trade at 101822 after touching an intraday low of 9901006 its weakest level since midJuneOther major digital assets also traded lower with Ethereum sliding 676 per cent to 333165 Solana down 316 per cent at 15766 XRP declining 316 per cent to 224 and Dogecoin slipping 147 per cent to 0165Bitcoin has now officially entered bear market territory falling more than 20 per cent from its record high of 126186 reached in early OctoberAccording to data from analytics firm CoinGlass more than 127 billion worth of leveraged crypto positions were liquidated earlier this week most of them being long positions as traders betting on further price gains faced steep lossesIn total nearly 2 billion in crypto positions were wiped out in the past 24 hours although the scale was smaller compared to the 19 billion liquidations seen during last months crashReports suggest that open interest in Bitcoin futures remains subdued while options traders are increasingly betting on further downside with several targeting the 80000 level through put contractsThe latest slide in Bitcoin coincided with weakness across global equity markets Fears of an artificial intelligencedriven bubble in tech valuations and concerns about stretched stock prices sparked broad selling on Wall StreetOn Tuesday the Dow Jones Industrial Average fell 25144 points or 053 per cent to 4708524 The SampP 500 declined 8042 points or 117 per cent to 677155 while the Nasdaq Composite plunged 48609 points or 204 per cent to close at 2334864Analysts said the correction in crypto mirrors the growing caution across global markets as investors brace for a potential pullback after months of rapid gains driven by optimism over AI and digital assets IANS https://dailyworld.in/business/bitcoin-tumbles-below-100-000-amid-global-market-sell-off-646875.html Thu, 06 Nov 2025 00:00:00 +0530 https://dailyworld.in/business/asia-driving-global-manufacturing-recovery-india-among-leaders-646882.html New Delhi Nov 5 Global manufacturing activity increased momentum in October driven by Asian economies with India Thailand and Vietnam showing significant improvements a new report said on Wednesday India topped the global manufacturing rankings again with the HSBC manufacturing PMI increasing to 592 in October from 577 in September driven by festive demand and GST rate rationalisation according to SampP Global survey dataData from SampP Global showed that Asias manufacturing PMI exChina and Japan reached a 14month high to 527 signalling stronger recovery momentum despite ongoing trade frictions and geopolitical uncertaintyChris Williamson chief business economist at SampP Global Market Intelligence said that Asia Thailand achieved its strongest PMI reading since May 2023 and Vietnam its highest since July 2024 as producers in these economies reported a thawing of concerns over the impact of US tariffsThailands PMI increased to 566 from 546 while Vietnams rose to 545 from 504 driven by a rebound in new orders and export demandRegarding Indias performance the firms said that it is the fifth time in seven months that the index has remained above 58 highlighting the sectors resilience despite global headwindsThe increase stemmed from quicker growth in new orders and factory output at the beginning of the third financial quarter driven by boost in advertising and recent GST reforms the report saidA reading above 50 indicates economic expansion while one below 50 shows contraction in the manufacturing services or construction sectorsChinas PMI declined to 506 from 512 due to falling export orders while the US and Eurozone continued moderate expansion or flat conditions with the US PMI increasing to 525 and the Eurozone at 50 it addedIf new orders continue to rise sharply as they have done in the latest survey period and price pressures stay subdued we can expect the ASEAN manufacturing sector to sustain its current level of growth as we conclude the year said Maryam Baluch economist SampP Global Market Intelligence about ASEAN manufacturers IANS https://dailyworld.in/business/asia-driving-global-manufacturing-recovery-india-among-leaders-646882.html Thu, 06 Nov 2025 00:19:00 +0530 https://dailyworld.in/business/nasscomfoundation-ondc-todigitallyempower-200women-ledbusinesses-in-karnataka-646883.html Bengaluru Nov 5 Nasscom Foundation on Wednesday announced a collaboration with the ONDC Network to enable women entrepreneurs in Karnataka to join the mainstream of ecommerce Under the partnership Nasscom onboarded 200 womenled enterprises on the ONDC Network providing them with access to expansive ecommerce markets enabling new entrepreneurial opportunities and accelerating business growth for IndiaWith a focus on sustainability the initiative also supported sellers from sectors such as handicrafts handloom and manufacturing helping them increase incomes and improve longterm business outcomesIndias ecommerce market is slated to surpass the US to become the second largest globally by 2034 as per many industry reports Yet many small and medium sellers still lack the digital expertise needed to thrive in this space limiting their growth opportunities a scenario which is more skewed for women said Jyoti Sharma CEO Nasscom FoundationOur collaboration with ONDC Network has helped bridge the digital divide by building capacities and empowering 200 women entrepreneurs to seamlessly enter and thrive in online marketplaces By harnessing technology and skill development we have provided them with a level playing field and access to sustainable market linkages to ultimately drive economic growth she addedThe initiative has been implemented across 22 districts of Karnataka including rural and urban regions of Bengaluru Mysuru Hubballi Channapatna Belgaum Udupi etcIt addresses the significant challenges faced by women entrepreneurs including limited market access lack of digital and financial skills and no prior ecommerce experienceAs part of the initiative women entrepreneurs received onground support through training cataloguing and GST registrationThe programme also built their capacities connected them with stakeholders and ensured regular governance for problemsolving and quality controlThrough the right tools skills and resources the initiative equipped women entrepreneurs with essential tools to compete in the modern business landscape amplifying their market presence and driving sustainable growthEvery woman entrepreneur carries a story of resilience determination and aspiration Through this collaboration with Nasscom Foundation ONDC Network is providing the digital infrastructure that enables enterprises to access wider markets and strengthen their businesses The true transformation lies in the way these women are adopting digital tools building new skills and embracing new opportunities to grow their ventures said Vibhor Jain Acting CEO and COO at ONDC IANS https://dailyworld.in/business/nasscomfoundation-ondc-todigitallyempower-200women-ledbusinesses-in-karnataka-646883.html Thu, 06 Nov 2025 00:21:00 +0530 https://dailyworld.in/business/adani-energy-solutions-to-supply-60-mw-green-energy-to-textile-manufacturer-rswm-646884.html Ahmedabad Nov 5 RSWM one of Indias leading textile manufacturers on Wednesday said it has signed an agreement with Adani Energy Solutions Ltd AESL for the supply of 60 MW of renewable energy Adani Energy Solutions will manage the entire green power value chain for the additional power requirement of RSWM the flagship company of LNJ Bhilwara GroupRSWM invested Rs 60 crore under the Group Captive Scheme with a renewable genco green generation company for the supply of 3153 crore units of green power per annum to its manufacturing facilities across RajasthanWith this addition the contribution of renewable energy in RSWMs total energy requirement will rise from the current 33 per cent to 70 per cent in the near future two thirds of its total energy mixRiju Jhunjhunwala Chairman Managing Director and CEO RSWM said that this achievement underscores our longterm vision to align growth with sustainability and reinforce our position as a forwardlooking industrial leaderBy sourcing 70 per cent of our total energy requirement from renewable sources well above the national average of Indias clean energy mix 31 per cent RSWM continues to set industry benchmarks in responsible energy transition he addedAccording to Kandarp Patel CEO AESL we are delighted to partner with RSWM on this landmark initiative that demonstrates how sustainability is becoming integral to businessesThis collaboration is a testament to the scalability and impact of renewable power in strengthening industrial growth while ensuring sustainability As a leading energy solutions provider for the Commercial and Industrial CampI sector we feel privileged to play a catalytic role in helping industries decarbonise through our innovative offerings Patel mentionedAESLs commercial and industrial CampI vertical serves bulk electricity users with customised energy solutions By delivering reliable competitively priced and increasingly green power AESL helps businesses across sectors meet both operational and sustainability needs The company is targeting a CampI portfolio of 7000 MW over the next five yearsBy integrating hybrid power RSWM is not only reducing its carbon footprint but also enhancing longterm energy security and operational efficiency said Rajeev Gupta Joint Managing Director RSWMAESL is the countrys largest private transmission company with a presence across 16 states and a cumulative transmission network of 26705 ckm and 97236 MVA transformation capacity IANS https://dailyworld.in/business/adani-energy-solutions-to-supply-60-mw-green-energy-to-textile-manufacturer-rswm-646884.html Thu, 06 Nov 2025 00:25:00 +0530 https://dailyworld.in/business/lic-clocks-32-per-cent-jump-in-q2-net-profit-at-rs-10-053-crore-647141.html New Delhi Nov 6 Life Insurance Corporation of India LIC on Thursday reported a robust 32 per cent increase in standalone net profit to Rs 1005339 crore for the second quarter of the current financial year compared with the corresponding figure of Rs 762086 crore in the same period of the previous financial year LICs net premium income grew 55 per cent yearonyear to Rs 126 lakh crore during the JulySeptember quarter from 12 lakh crore in the same period last year while the solvency ratio increased to 213 per cent from 198 per cent in the yearago periodThe asset quality for policyholders funds also improved during the quarter as NPA fell to Rs 394 per cent from Rs 617 per cent in Q2 FY25In the first six months of FY26 H1FY26 LICs net profit amounted to Rs 21040 crore marking a 1636 per cent increase yearonyear YoYThe company statement noted that LICs total premium income for the six months H1FY26 rose 514 per cent yearonyear to Rs 245680 crore Individual business premium increased to Rs 150715 crore while group business premium rose to Rs 94965 croreThe companys renewal premium in the individual segment grew 614 per cent to Rs 122224 croreR Doraiswamy CEO and MD of LIC said that the company is very optimistic about the positive impact of the GST changes announced for the Insurance Industry by the GovernmentIt is our firm belief that these changes are in the best interest of customers and will lead to further accelerated growth of the life insurance industry in India As LIC we have ensured that all intended benefits of GST changes are passed onto the customers Doraiswamy addedLife Insurance Corporation of India has been ranked third among the worlds strongest insurance brands achieving a Brand Strength Index BSI score of 88 out of 100 according to the Brand Finance Insurance 100 2025 reportPolandbased PZU secured the top spot with a BSI score of 944 followed by China Life Insurance which ranked second with a BSI score of 935 IANS https://dailyworld.in/business/lic-clocks-32-per-cent-jump-in-q2-net-profit-at-rs-10-053-crore-647141.html Thu, 06 Nov 2025 19:02:00 +0530 https://dailyworld.in/business/google-launches-skilling-programme-for-indian-startup-founders-646890.html New Delhi Nov 5 US tech giant Google announced on Wednesday a twoweek programme under Google for Startups India to equip earlystage founders startup teams and aspiring entrepreneurs in developing launchready AI prototypes with Googles AI tools The attendees will be equipped with the essential tools and knowledge to rapidly turn their ideas into functional AIpowered prototypes using Googles cuttingedge AI technologies the release saidThe programme will run from November 27 to December 7 2025 where participants will learn to ideate research design and deploy AIfirst solutions using Googles AI tools such as tools such as Gemini Nano Banana Imagen Veo NotebookLM and AI StudioThe program offers practical skills focused on AIFirst Prototyping AIPowered Research and AI Creative Studio it addedAttendees who succeed will obtain a Googlerecognised Certificate of Participation and qualify for the Build the Future Showcase in January 2026 for outstanding innovators which includes invaluable mentorship from Google experts the release notedAt Google for Startups our goal is to make the power of AI accessible to every founder dismantling traditional coding barriers By leveraging the speed and seamless integration of Googles fullstack AI ecosystem the program will enable entrepreneurs to move from concept to creation faster and with greater confidence said Ragini Das Head of Google for Startups IndiaMeitY Startup Hub Startup India IndiaAI Mission and Nasscom have supported the initiative Google notedMeitY Startup Hub CEO Panneerselvam Madanagopal said that the collaboration reflects the vision of Digital India and Viksit Bharat by empowering founders across the country to create globally competitive solutions for social upliftment using AIGoogle in September had announced the latest cohort of its free threemonth AI accelerator program a group of 20 startups selected from over 1600 applicants to scale AIdriven solutions across healthcare finance climate education and moreThe company mentioned that Indias generative AI ecosystem has grown 37fold over the past year making it the worlds secondlargest GenAI startup hub IANS https://dailyworld.in/business/google-launches-skilling-programme-for-indian-startup-founders-646890.html Thu, 06 Nov 2025 00:39:00 +0530 https://dailyworld.in/business/maruti-suzuki-crosses-3-crore-domestic-sales-milestone-in-india-646893.html New Delhi Nov 5 Maruti Suzuki India the countrys largest carmaker on Wednesday announced that it has crossed a major milestone of 3 crore cumulative car sales in the domestic market The company said it took 28 years and 2 months to reach its first crore of sales while the next one crore cars were sold in just 7 years and 5 monthsThe third crore milestone came even faster in a record time of 6 years and 4 months highlighting the brands growing popularity among Indian buyersAmong the three crore cars sold in India the Maruti Alto remains the bestselling model with over 47 lakh units soldIt is followed by the Wagon R with around 34 lakh units and the Swift with more than 32 lakh units Compact SUVs like the Brezza and the recently launched Fronx also made it to the companys list of top ten bestsellersMaruti Suzuki delivered its very first car the iconic Maruti 800 to a customer on December 14 1983 Since then the company has become a household name in India and currently offers more than 170 variants across 19 modelsExpressing gratitude for the achievement Hisashi Takeuchi Managing Director and CEO of Maruti Suzuki India said the milestone fills him with humility and gratitudeWhen I look at the length and breadth of India and think that 3 crore customers have placed their trust in Maruti Suzuki to realise their dream of mobility it fills me with humility and gratitude he saidHe added that with car ownership in India still at about 33 vehicles per 1000 people there is significant potential for growthOur journey is far from over We will continue to make every possible effort to bring the joy of mobility to as many people as we can while contributing positively to the economy and the environment Takeuchi saidThe company said it remains committed to expanding access to affordable reliable mobility for Indian families while maintaining its focus on innovation and sustainability IANS https://dailyworld.in/business/maruti-suzuki-crosses-3-crore-domestic-sales-milestone-in-india-646893.html Thu, 06 Nov 2025 00:45:00 +0530 https://dailyworld.in/business/adani-subsidiarykutch-copper-joins-caravel-minerals-to-fast-track-key-australian-copper-project-647149.html Ahmedabad Nov 6 Caravel Minerals Ltd on Thursday announced the signing of a landmark nonbinding MoU with Kutch Copper Ltd KCL a subsidiary of Adani Enterprises Ltd AEL paving the way for a strategic collaboration on the flagship Caravel Copper Project in Western Australias Murchison region The companies will explore investment and offtake opportunities to accelerate development of the project towards a Final Investment Decision FID in 2026 combining Caravels worldclass resource with Adanis proven smelting processing and logistics capabilitiesThe companies further said that the MoU further outlines collaborative workstreams including coengineering to optimise product specifications for Kutch Coppers downstream facilities joint procurement to fasttrack delivery schedules and leveraging the IndiaAustralia FTA Free Trade Agreement to promote crossborder resource development and workforce skillingCopper is the backbone of the global energy transition and our partnership with Caravel Minerals strengthens Indias and Australias role in building a resilient and responsible supply chain for this vital metal said Dr Vinay Prakash CEO Natural Resources AdaniKutch Copper with its worldclass infrastructure and ESG standards is delighted to align with Caravel to create a model of sustainable value creation across continents he addedThe partnership also establishes an exclusive framework for negotiating a lifeofmine offtake agreement covering up to 100 per cent of Caravels copper concentrate output which is expected to be around 62000 to 71000 tonnes of payable copper per annum in the early yearsThe concentrate would directly feed into KCLs stateoftheart 12 billion Australian 18 billion Kutch Copper Smelter the worlds largest singlelocation copper facility set up in GujaratThis collaboration with Adanis Kutch Copper marks a pivotal step in realising the full potential of the Caravel Copper Project It brings together complementary strengths Adanis downstream expertise and Caravels worldscale resource under a shared vision for responsible longterm copper production said Don Hyma Managing Director Caravel Minerals LimitedCaravels Caravel Copper Project located about 150 km northeast of Perth is one of Australias largest undeveloped copper resources with a potential mine life exceeding 25 years and an estimated 13 million tonnes of payable copper The projects allin sustaining cost AISC is forecast at US 207 per pound positioning it among the lowestcost producers globallyAs part of the agreement KCL has been granted the first rights to participate in direct equity or projectlevel investments during the term of the MOU The discussions are aligned with the Projects Australian 17 billion initial capex and designed to support phased development IANS https://dailyworld.in/business/adani-subsidiarykutch-copper-joins-caravel-minerals-to-fast-track-key-australian-copper-project-647149.html Thu, 06 Nov 2025 20:00:00 +0530 https://dailyworld.in/business/ai-a-horizontal-cross-cutting-techushering-india-towards-viksit-bharatmeityofficial-646894.html New Delhi Nov 5 AI is a horizontal and crosscutting technology that can usher India towards Viksit Bharat goals said S Krishnan Secretary Ministry of Electronics and Information Technology MeitY on Wednesday He was speaking at a highlevel panel discussion on AI at the Emerging Science Technology amp Innovation Conclave ESTIC 2025 being held at Bharat Mandapam in New Delhi from November 35Chairing the session Krishnan spoke about how India can harness AI responsibly to drive innovation inclusion and global competitivenessThe critical aspect of all technology is the impact it has on society how it enhances the quality of life and what it offers to the people of the country For India this is truly an opportunity to leverage a horizontal crosscutting technology like AI to ensure the country is firmly on the path to becoming Viksit Bharat by 2047 said S Krishnan Secretary MeitYThe panel including leading voices from government academia and industry explored Indias evolving AI ecosystem from expanding digital infrastructure and developing indigenous large language models to advancing ethical AI governance and fostering global partnershipsThe experts emphasised the need to align technological progress with the countrys developmental priorities and social inclusion goalsAbhishek Singh Additional Secretary MeitY spoke on the IndiaAI Missions integrated approach to building a worldclass AI ecosystemTo unlock pathways for AI innovation the IndiaAI Mission is addressing all the gaps that exist in our story Our biggest advantage is the human capital we have but to build AI models and applications we also need accessible computers quality datasets and sustained investment said Singh also the Director General National Informatics Centre amp CEO IndiaAI MissionThrough the Missions sevenpillar strategy including lowcost computers data platforms foundation models startup support and tools for safe and trustworthy AI we are creating an ecosystem that enables India to catch up with the best in the world The goal is to build AI applications that not only serve Indias needs but also set global benchmarks for innovation ethics and trust he addedThe session also set the stage for the upcoming India AI Impact Summit 2026 focusing on Indias evolving AI ecosystem from expanding digital infrastructure and advancing indigenous large language models to strengthening ethical AI governance and fostering international collaboration IANS https://dailyworld.in/business/ai-a-horizontal-cross-cutting-techushering-india-towards-viksit-bharatmeityofficial-646894.html Thu, 06 Nov 2025 00:48:00 +0530 https://dailyworld.in/business/indias-real-estate-sector-likely-to-soar-to-10-trillion-dollars-by-2047-report-647158.html Gurugram Nov 6 Indias real estate sector is at the cusp of a monumental and transformative journey and is projected to grow multifold levelsfrom nearly 03 trillion Dollars today to a staggering 510 trillion Dollars market by 2047 according to a ColliersCII report released on Thursday This ongoing surge positions real estate as a cornerstone of Indias economic ascent potentially contributing 1420 per cent of the GDP by 2047 it addedThe report titled Real Estate 2047 Building Indias Future Growth Corridors highlights nearterm trends and the overarching growth theme across core segmentsresidential office retail industrial amp warehousing as well as emerging alternative asset classes like senior living coliving and data centresMost of these trends are being powered by a strong tailwind in the form of governmentled reforms amp policy initiatives and structural demand drivers such as rapid urbanisation demographic shifts infrastructure augmentation technologydriven innovation and sustainability priorities Together these growth engines are creating a multiplier effect fueling employment and demand across real estate asset classes attracting institutional capital and unlocking new growth corridors across the country the report statedWithin real estate the residential segment is expected to see the most pronounced impact from rapid urbanisation and evolving demographics particularly in affordable senior and coliving spaces Meanwhile commercial and industrial segments stand to benefit from enhanced infrastructureled connectivity digitalisation and green mandates which will support the decentralisation of office hubs and manufacturing clusters across Tier II amp III cities Concurrently technological advancements especially in AI will drive the growth of data centres and smart city infrastructure the report further statedAddressing the CII event Harleen Kaur Deputy Secretary Union Ministry of Road Transport and Highways said Indias infrastructure expansion is reshaping the real estate landscape unlocking new growth corridors and transforming Tier II amp III cities Real estate and infrastructure are two vital sectors which will reinforce each other Expressways and industrial corridors will increasingly enhance connectivitytransforming land usage in catchment areas accelerating urban development and creating commercially viable economic hotspots IANS https://dailyworld.in/business/indias-real-estate-sector-likely-to-soar-to-10-trillion-dollars-by-2047-report-647158.html Thu, 06 Nov 2025 21:03:00 +0530 https://dailyworld.in/business/microsoft-to-offer-in-country-copilot-data-processing-in-india-by-2025-end-646904.html New Delhi Nov 5 US tech giant Microsoft announced on Wednesday that it will provide incountry processing for Microsoft 365 Copilot interactions in four countries including India by the end of CY2025 Further Microsoft will expand this option to eleven more countries the release said adding that incountry data processing for Microsoft 365 Copilot interactions will enhance customer control over AI dataFurther incountry data processing can also improve performance by reducing latency delivering an even more responsive Copilot experience the company saidBy the end of 2025 customers in Australia the United Kingdom India and Japan will have the option for Copilot interactions to be processed within their national bordersIn 2026 the capability will expand to Canada Germany Italy Malaysia Poland South Africa Spain Sweden Switzerland the United Arab Emirates and the United StatesMicrosoft mentioned that incountry processing allows Copilot interaction data to be processed in data centres within the customers nation giving customers greater control over their dataThis offer is designed to enable customers particularly those in government and highly regulated industries to access Microsoft 365 Copilot with an additional option for governance security and regulatory compliance it saidA map of the Microsoft 365 data residency and processing commitments highlighting the countries where incountry data processes will be available by the end of 2025 and in 2026 the release saidCurrently Microsoft offers incountry data residency to Microsoft 365 and Microsoft 365 Copilot customers in 27 countries and inregion data residency and processing for countries within the European Union EU Data BoundaryIndias data centre capacity is expected to grow from the current 12 GW to about 8 GW by 2030 expanding at an annual rate of nearly 17 per cent driven by the countrys rapid digital transformation growing internet usage and rising demand for AI and cloudbased services according to Trade Brains report IANS https://dailyworld.in/business/microsoft-to-offer-in-country-copilot-data-processing-in-india-by-2025-end-646904.html Thu, 06 Nov 2025 01:26:00 +0530 https://dailyworld.in/business/ethiopia-to-adopt-indias-day-nrlm-scheme-to-root-out-rural-poverty--647161.html New Delhi Nov 6 A highlevel delegation from the government of Ethiopia has concluded a weeklong learning and exposure visit to India which focused on understanding the implementation strategies of the Deendayal Antyodaya Yojana National Rural Livelihoods Mission DAYNRLM Indias flagship initiative for poverty alleviation and womens economic empowerment The Ethiopian delegates expressed their intention to apply the lessons learned from NRLM to their Productive Safety Net Program PSNP and invited Indian partners to collaborate in driving further innovationWorld Bank representatives reaffirmed their commitment to supporting womens livelihood transformation in Ethiopia and underscored the importance of government leadership enabling policies and private sector engagement according to an official statement issued on ThursdayThe wrapup session was attended by Molalign Asfaw Deputy Ambassador of Ethiopia to India representatives from the World Bank and Rajeshwari S M Director DAYNRLM Ministry of Rural Development The Ethiopian delegation included representatives from nine regions one city administration and two key sectorsThe delegates appreciated the depth of engagement the expertise demonstrated by Indian officials and the value of peertopeer knowledge exchange throughout the visitThe delegation commended the standardisation and adaptability of NRLMs design noting how it customises programme structures to suit diverse local contextsThey were particularly impressed by the role of sakhis communitybased facilitators who deliver lastmile support and resources to women across rural IndiaThe delegates highlighted several innovations such as bank linkages diversified livelihood activities and departmental convergence as key contributors to social and economic empowerment for women according to an official statementInspired by the success stories of womens collectives one delegate remarked Women are the foundation of any economy When we invest in women we invest in the whole worldAddressing the concluding session the Ambassador of Ethiopia to India emphasised the longstanding partnership between the two nations and the importance of sustained policy exchanges in shaping institutional evolution and impactful interventionsHe highlighted the need for a comprehensive conceptual framework and constant monitoring to ensure policy inclusion and improvementThe Ambassador also recognised Indias global leadership in Digital Public Infrastructure DPI and acknowledged Ethiopias parallel efforts toward holistic sectoral collaborationHe called for strengthening institutional commitments and adapting Indias successful experiences to the Ethiopian context IANS https://dailyworld.in/business/ethiopia-to-adopt-indias-day-nrlm-scheme-to-root-out-rural-poverty--647161.html Thu, 06 Nov 2025 21:08:00 +0530 https://dailyworld.in/business/india-sees-highest-ai-bot-activity-in-apac-followed-by-japan-and-china-report-646907.html New Delhi Nov 5 India leads the AsiaPacific region in AI bot activity and a 300 per cent increase in automated traffic globally is witnessed over the past year a report said on Wednesday AI bots generated 32 billion triggers in India positioning the country as the most targeted in the APAC region followed by Japan and China said the report from cybersecurity and cloud computing company Akamai TechnologiesThe report revealed an alarming spike in automated traffic driven largely by AIpowered bots targeting websites across all industriesThese bots generate billions of requests significantly distorting digital operations and analytics and make up nearly 1 per cent of total bot traffic on Akamais platformThe spike is primarily caused by content scraping which undermines traditional webbased business models publisher analytics and ad revenueAs bot traffic grows publishers and other contentdriven businesses are seeing corrupted analytics and collapsing ad revenues through bots extracting value without giving any in returnThe report also revealed that the rapid growth of AIenabled tools has made it easier than ever for both experienced threat professionals and new malicious actors to launch impersonation attacks conduct social engineering distribute phishing campaigns and commit identity fraud using AIgenerated fake documents and imagesIn addition malicious bots such as FraudGPT WormGPT ad fraud bots and return fraud bots are driving up costs degrading site performance and skewing key metricsFurther the global report stated that the commerce industry leads in AI bot activity registering more than 25 billion bot requests over a twomonth observation periodBut publishing faced the largest impact in the digital media industry representing 63 per cent of AI bot triggersIn the healthcare sector more than 90 per cent of AI bot triggers stem from scraping largely by search and training bots the report said IANS https://dailyworld.in/business/india-sees-highest-ai-bot-activity-in-apac-followed-by-japan-and-china-report-646907.html Thu, 06 Nov 2025 01:35:00 +0530 https://dailyworld.in/business/porter-lays-off-hundreds-of-employees-amid-restructuring-exercise-646908.html Bengaluru Nov 5 Ondemand logistics platform Porter has announced job cuts as part of its efforts to reduce costs and strengthen its operations The company did not share the exact number of employees affected but according to reports around 300 to 350 workers have been laid offIn a statement Porter said it is going through a transition aimed at building a stronger more agile and financially stable organisationThe company described the layoffs as a onetime restructuring decision made after careful considerationWere in the midst of a transition that required a onetime restructuring aimed at building a stronger more agile and financially resilient organisation for the road ahead Porter saidAs part of this journey weve had to make some difficult decisions that affect our people choices that were not easy and were made after careful consideration it addedThe move comes as Porter prepares for a possible public listing Reports suggest that the company is in the final stages of securing 100110 million in new funding from both existing and new investorsThis would raise the total investment in Porter to about 300310 million as part of an extended funding roundEarlier in May Porter had raised 200 million in a round led by Kedaara Capital and Wellington Management valuing the company at around 12 billionFounded in 2014 by Pranav Goel Uttam Digga and Vikas Choudhary Porter offers a range of logistics services including ondemand trucking courier services packing and moving and enterprise logisticsIn the financial year 2025 Porter reported a 57 per cent increase in operating revenue to Rs 4306 crore and turned profitable posting a net profit of Rs 55 crore compared to a loss of Rs 96 crore in the previous yearThe company said the restructuring is part of its plan to ensure longterm growth and efficiency as it continues to expand in the competitive logistics market IANS https://dailyworld.in/business/porter-lays-off-hundreds-of-employees-amid-restructuring-exercise-646908.html Thu, 06 Nov 2025 01:36:00 +0530 https://dailyworld.in/business/yen-loans-backfire-on-bangladesh-as-japans-currency-turns-volatile-646708.html New Delhi Nov 4 Bangladeshs strategy of borrowing in Japanese yen to avoid paying high dollarbased interest rates has started backfiring due to the currency volatility and rising interest rates in Japan The South Asian country has for instance ended up losing 13 million to exchange rate differences on a recent 600 million budget support loan from the Asian Development Bank taken entirely in yen according to a report in Bangladeshs Business Standard newspaperLast year too the government took a 300 million loan for the Bangladesh Second Recovery amp Resilience Development Policy in yen Another 400 million Climate Resilient Inclusive Development Programme loan from the Asian Infrastructure Investment Bank AIIB was also denominated in yen Similarly a 100 million portion of a World Bank budget support loan for the Resilient Urban and Territorial Development Project was taken in yen the report statesDespite the appeal of low interest rates in Japan the downside risks are growing The yen has appreciated by about 7 per cent against the US dollar in just one month and Japans interest rates are trending upward This combination threatens to raise the real cost of repaying yendenominated loans especially for a country like Bangladesh whose reserves are still overwhelmingly dollarbased the report statesNowhere is this risk more visible than in the World Bankfinanced Chattogram Water Supply Improvement Project The 280 million loan was split between dollars and yen with half 213 billion yen or 140 million taken in yen to hedge against dollar interest rate hikes The rest remains in dollarsBut with repayments nearing the Chattogram Water and Sewerage Authority Wasa is facing an annual debt service burden of over 23 million for six yearsaround 300 crore takas per year Officials warn this could severely strain Wasas finances especially as the project does not generate commercial revenues the report points outChattogram Wasa Managing Director Muhammad Anwar Pasha said that foreign loan decisions are made at the policy level by the Local Government Division Finance Division and the Economic Relations Division ERD adding that any action on easing the repayment pressure would require government interventionAt the same Executive Committee of the National Economic Council Ecnec meeting that approved the Chattogram project on 20 April another major yen loan was greenlit a 650 million World Bank loan for the Bay Terminal Marine Infrastructure Development Project of which 400 million will be taken in yen to avoid high marketbased interest on the dollardenominated portionThe yendenominated debt is growing fast ERD data shows that as of 30 June 2024 Bangladeshs yen loan portfolio stood at nearly 12 billionup from 752 billion just four years earlier the report points outBut Finance Division officials are raising red flags What was once seen as a strategic hedge now carries mounting risks Exchange rate fluctuations between the yen and the dollar have exposed Bangladesh to new vulnerabilities particularly in the absence of a formal policy guiding the use of marketbased or nondollar loans the report added IANS https://dailyworld.in/business/yen-loans-backfire-on-bangladesh-as-japans-currency-turns-volatile-646708.html Wed, 05 Nov 2025 00:06:00 +0530 https://dailyworld.in/business/sri-lankan-opposition-leader-visits-niti-aayog-646714.html New Delhi Nov 4 NITI Aayog hosted a distinguished delegation from Sri Lanka led by Leader of Opposition Sajith Premadasa here on Tuesday In his opening remarks Premadasa commended Indias transformative journey in the past 11 years under the leadership of Prime Minister Narendra Modi and expressed his interest in understanding the NITI Aayogs role as a policy think tank to bridge longterm policy design with onground implementationNITI Aayog Vice Chairman Suman K Bery provided an overview of Indias economic transformation with a focused discussion on fostering deeper collaboration between the two countries and sharing insights on Indias policy process and transformative initiatives in the sectors of infrastructure and economic cooperationThe Vice Chairman concluded the meeting by stressing NITI Aayogs continued commitment to enhancing regional cooperation and advancing shared development goals with Sri Lanka in the spirit of good neighbourliness and mutual growth as agreed between the two governments through official channelsIndia is Sri Lankas largest trading partner and was one of the first countries with which Sri Lanka signed a Free Trade Agreement FTA Recently a highlevel Sri Lankan delegation led by Minister of Trade Wasantha Samarasinghe visited IndiaSamarasinghe said that while Sri Lanka imports many consumer goods from India the country has also provided significant support to Sri Lanka during difficult times He said that the island nation was working to address the trade imbalance by utilising provisions in the existing trade agreement to increase Sri Lankan exports to India Sri Lanka has plans to increase shipments of garments textiles tea and other products to the Indian marketIndia is Sri Lankas largest trade partner According to the Department of Commerce the merchandise trade between India and Sri Lanka reached 55 billion in FY 202324 with Indias exports amounting to 41 billion while Sri Lankas exports reached 14 billion Bilateral trade was also supported by various Lines of Credit and a Credit facility for the procurement of essential itemsIndia is also one of the largest contributors to Foreign Direct Investment FDI in Sri Lanka with a cumulative figure of approx 22 billion till 2023 The main investments from India are in the areas of energy hospitality real estate manufacturing telecommunication banking and financial services Going forward the priority areas would be to expedite important projects in crucial sectors such as energy ports amp shipping renewable energy and defence supplies according to an official statement IANS https://dailyworld.in/business/sri-lankan-opposition-leader-visits-niti-aayog-646714.html Wed, 05 Nov 2025 00:24:00 +0530 https://dailyworld.in/business/indias-data-centre-industry-set-to-grow-eightfold-by-2030-646719.html New Delhi Nov 4 Indias data centre industry is witnessing a massive boom driven by the countrys rapid digital transformation growing internet usage and rising demand for AI and cloudbased services With Googles 15 billion investment India is positioning itself as a major global data hubAccording to estimates Indias data centre capacity is expected to grow from the current 12 GW to about 8 GW by 2030 expanding at an annual rate of nearly 17 per cent according to Trade Brains reportThis growth will make India one of the fastestgrowing data centre markets in the worldThe surge in internet penetration and data usage has been a key growth driverIndias internet penetration has risen from 334 per cent in 2019 to 553 per cent in early 2025 with more than one billion active subscribersAverage monthly data consumption per user has also tripled from 115 GB in 2019 to nearly 32 GB in 2025 thanks to the rollout of 5G networks affordable data plans and the growing popularity of streaming and online entertainmentThe increasing digitalisation of the banking and financial services sector along with the rise of ecommerce and cloudbased businesses has also pushed the demand for reliable data storage and processing facilitiesAs AI applications and OTT platforms continue to expand the need for largescale energyefficient data centres has become even more crucialIndias data centre market has grown significantly in recent years from a capacity of 590 MW in 2019 to about 12 GW currentlyThe industry generated about 12 billion in revenue in 2024 and according to Statista this figure is expected to jump to 1153 billion by 2025At present India has more than 260 operational data centres with most of them located in major hubs such as Mumbai Metropolitan Region MMR Chennai Delhi Hyderabad and Bengaluru MMR and Chennai alone account for nearly 70 per cent of the total data centre capacityIndustry data from Anarock Capital shows that around 60 per cent of data centre clients are enterprises 30 per cent are hyperscalers like Google Amazon Web Services and Microsoft and the remaining 10 per cent are AI usersWith AI workloads growing rapidly the demand from all three segments is expected to increase furtherSeveral global and domestic companies are expanding their footprint in Indias data centre ecosystem Major international players such as Equinix Digital Realty NTT Global Data Centres CyrusOne and Meta Platforms are already investing heavily in the countryAdaniConnex a joint venture between Adani Group and EdgeConneX plans to develop 1 GW of data centre capacity over the next decadeSimilarly Digital Connexion a partnership between Digital Realty Brookfield Infrastructure and Jio Platforms is expanding aggressively Other key players include ST Telemedia Global Data Centres which has partnered with Tata Communications Hiranandani Groups Yotta Data Services and Bharti Airtels NxtraCtrlS also operates one of Asias largest Rated4 data centre networks in major cities like Mumbai Noida Bengaluru and Hyderabad IANS https://dailyworld.in/business/indias-data-centre-industry-set-to-grow-eightfold-by-2030-646719.html Wed, 05 Nov 2025 00:35:00 +0530 https://dailyworld.in/business/indian-stock-markets-closed-on-nov-5-for-guru-nanak-jayanti-trade-to-resume-tomorrow-646750.html Mumbai Nov 5 The Bombay Stock Exchange BSE and the National Stock Exchange NSE remained closed on Wednesday on account of Prakash Gurpurb Sri Guru Nanak Dev also known as Guru Nanak Jayanti Trading across segments including equities derivatives securities lending and borrowing SLBs currency derivatives and interest rate derivatives stayed shut for the dayThe commodity derivatives market was also closed in the morning session between 9 am and 5 pm but will open for the evening session from 5 pm to 11301155 pmRegular trading on both exchanges will resume on Thursday November 6On Tuesday Indian stock markets ended lower with the Nifty slipping below the 25600 mark amid broadbased selling pressureThe Sensex fell 51934 points or 062 per cent to close at 8345915 while the Nifty dropped 16570 points or 064 per cent to end at 2559765The BSE Midcap index declined 02 per cent and the Smallcap index fell 07 per centAmong major Nifty stocks Power Grid Corp Coal India Tata Motors Passenger Vehicles Bajaj Auto and Eternal were the top losersOn the other hand Titan Company Bharti Airtel Bajaj Finance HDFC Life and MampM gained during the sessionBarring telecom and consumer durable sectors all other indices ended in the red IT auto FMCG metal power realty and PSU indices slipped between 05 to 1 per centMarket analysts said that the Nifty has retested its 20day exponential moving average EMA A sustained move below this level could weaken the positive sentiment and extend the correction toward 25400On the higher side 25800 is likely to act as an immediate resistance level Traders have been advised to remain cautious and focus on risk management until a clear market direction emerges experts said IANS https://dailyworld.in/business/indian-stock-markets-closed-on-nov-5-for-guru-nanak-jayanti-trade-to-resume-tomorrow-646750.html Wed, 05 Nov 2025 09:49:00 +0530 https://dailyworld.in/business/lg-electronics-plans-to-shift-capital-goods-production-to-india-lg-corp-to-invest-rs-1-000-crore-in-noida-rampd-centre-646761.html New Delhi Nov 5 Korean multinational LG Electronics is planning to move the production of some of its newer capital goods businesses to India These capital goods are used for setting up factories that produce electronic products displays and hightech componentsThe shift is expected to take place from existing facilities in Korea China and Vietnam according to reportsThis move is part of LGs broader strategy to expand its manufacturing base in India and strengthen local production capabilities amid a global push for supply chain diversificationIn a separate development LG Corp the holding company of the LG Group is investing Rs 1000 crore to establish a new global research and development RampD centre in NoidaThe upcoming facility will focus on innovation in electronics and technology design and is expected to generate around 500 jobsThe development comes at a time when LG Electronics India has been receiving strong investor confidenceOn its market debut last month LG Electronics India shares surged over 50 per cent valuing the company at 1307 billion Rs 115 lakh crore surpassing its South Korean parents market capitalisation of nearly 10 billion Rs 8800 croreThe companys successful IPO reflected strong optimism about its longterm growth potential and localisation effortsBrokerage firms such as Prabhudas Lilladher and Motilal Oswal have given a Buy rating on the stock highlighting its robust distribution network premium brand positioning and strategic focus on highmargin businessesIndustry analysts believe that LG Electronics India with its leadership in key product segments and ongoing investments in manufacturing and research is wellpositioned to capitalise on the fastgrowing Indian consumer electronics and appliances market which is projected to grow at a 14 per cent CAGR over 20242029 IANS https://dailyworld.in/business/lg-electronics-plans-to-shift-capital-goods-production-to-india-lg-corp-to-invest-rs-1-000-crore-in-noida-rampd-centre-646761.html Wed, 05 Nov 2025 10:21:00 +0530 https://dailyworld.in/business/look-forward-to-expediting-process-for-free-trade-pact-with-new-zealand-piyush-goyal-646773.html New Delhi Nov 5 Commerce and Industry Minister Piyush Goyal said on Wednesday he was set to review the progress of the ongoing free trade agreement FTA negotiations with New Zealand Goyal reached New Zealand for talks on the proposed FTA between the two countriesDelighted to be in New Zealand to review the progress of the ongoing FTA negotiations Grateful to my good friend and counterpart Todd McClay for the warm welcome Together we look forward to expediting the process for a comprehensive mutually beneficial economic partnership the minister posted on X social media platformGoyal further stated that he will also meet industry leaders along with investors to explore new avenues for collaboration and investment between our two countriesAccording to an earlier ministry statement the 4th round of IndiaNew Zealand FTA negotiations commenced in Auckland on November 3 marking an important step in deepening the bilateral trade and economic dialogue between the two nationsThe talks which are taking place in Auckland till November 7 mark a renewed effort to craft a balanced comprehensive and mutually beneficial deal after months of technical discussions the ministry saidGoyal will participate in a series of highlevel engagements aimed at strengthening trade investment and innovation linkages between India and New ZealandThese include a dedicated interaction with prominent members of the New Zealand business community and the visiting Indian business delegation facilitating greater collaboration between the private sectors of both countries the statement said A New ZealandIndia Business Forum will be held in the afternoon in Auckland followed by a community interaction event with members of the vibrant Indian diasporaAccording to the ministry the engagements are expected to see participation from industry leaders chambers of commerce and government representatives from New Zealand reaffirming the growing momentum in bilateral relations and the shared vision for a stronger futureoriented economic partnership IANS https://dailyworld.in/business/look-forward-to-expediting-process-for-free-trade-pact-with-new-zealand-piyush-goyal-646773.html Wed, 05 Nov 2025 11:02:00 +0530 https://dailyworld.in/business/softbank-shares-plunge-over-13-pc-amid-ai-stock-sell-off-646778.html New Delhi Nov 5 Shares of Japans SoftBank Group tumbled more than 13 per cent on the Tokyo Stock Exchange on Wednesday as a broader selloff in technology stocks hit investor sentiment The sharp fall followed Tuesdays 7 per cent decline wiping out nearly 50 billion in SoftBanks market capitalisation over just two daysThe slump came amid rising concerns over the high valuations of AI and semiconductor companies which triggered a selloff on Wall Street earlier this weekDespite the steep decline SoftBank remains a multibagger stock having surged nearly 206 per cent in the past six months and 154 per cent over the last yearSoftBank has built a diverse portfolio of AIdriven businesses spanning infrastructure semiconductors and software applicationsThe company holds a controlling stake in UKbased Arm Holdings whose chip designs power many mobile and AI processorsRecently it also acquired Ampere Computing to boost its AI data centre capabilitiesOther semiconductor and AI stocks in Asia also saw heavy losses on Wednesday Semiconductor testing firm Advantest dropped over 8 per cent while chipmaker Renesas Electronics fell around 6 per cent Shares of Nasdaqlisted Arm Holdings slid 471 per cent overnightAccording to market reports the fall in AI and semiconductor stocks followed an 8 per cent drop in US software company Palantirs shares despite the firm reporting strong thirdquarter resultsAnalysts say investors are becoming cautious as the ongoing AI rally has pushed valuations to unsustainable levelsThe SampP 500s forward pricetoearnings ratio has now climbed above 23 its highest since the dotcom bubble in 2000 as per data from FactSetAdding to the bearish sentiment investor Michael Burry famous for predicting the 2008 financial crisis disclosed short positions in Palantir and Nvidia both major beneficiaries of the AI boomFollowing the revelation Nvidia shares fell 4 per cent and AMD dropped 37 per cent in afterhours tradingMarket analysts are warning that the growing excitement around artificial intelligence may be fueling a new tech bubbleMany experts believe the current surge in AI stock prices mirrors the speculative mania of the late 1990s dotcom boom with valuations far exceeding realistic earnings expectations IANS https://dailyworld.in/business/softbank-shares-plunge-over-13-pc-amid-ai-stock-sell-off-646778.html Wed, 05 Nov 2025 11:43:00 +0530 https://dailyworld.in/business/60pc-gen-z-fresh-graduateskeenonupskilling-learning-ai-and-data-skills-in-india-report-646794.html New Delhi Nov 5 Generation Z and fresh graduates are leading the skilling ecosystem in India with a majority of them actively learning artificial intelligence and data skills according to a report on Wednesday The report by Deel a global payroll and compliance platform is based on a survey of 5058 employees representing Gen Z ages 28 or under millennials ages 2944 and Gen X ages 4560It showed that the vast majority of Indias whitecollar professionals 96 per cent have upskilled in the past year however the learning priorities and motivations differ sharply across generationsGen Z and fresh graduates are leading the skilling charge at 61 per cent and 63 per cent respectively with access to upskilling opportunities as a key retention factor to stay with an employerThe younger workforce is also riding the AI wave with more than half of Gen Z 54 per cent and fresh graduates 57 per cent actively learning AI and data skillsMillennials are lagging with only 2 in 5 40 per cent learning new skills Meanwhile Gen X 38 per cent continues to prioritise traditional domain expertise focusing on core professional and functional skills over new technologiesIndias workforce is entering a new era where motivation for learning is high but the barriers differ for each generation said Mark Samlal General Manager APAC at DeelBy curating flexible and accessible learning programmes that align with different life stages and work realities employers can bridge the skills gap and strengthen retention and loyalty across generations Samlal addedGen Z 61 per cent was found to be the most influenced by upskilling when deciding whether to stay with an employer Freshers 63 per cent share the same sentiment showing a strong link between learning access and earlycareer retentionFurther while twothirds of Gen Z 66 per cent are confident that their skills will remain relevant over the next five years less than half of millennials 48 per cent and just over a third of Gen X 36 per cent feel the same wayBut Gen Z cited that cost 31 per cent is holding them back from upskilling On the other hand millennials struggle with time constraints 35 per cent and Gen X points to limited employer support 29 per cent the report said IANS https://dailyworld.in/business/60pc-gen-z-fresh-graduateskeenonupskilling-learning-ai-and-data-skills-in-india-report-646794.html Wed, 05 Nov 2025 13:09:00 +0530 https://dailyworld.in/business/60-pc-gen-z-fresh-graduateskeenonupskilling-learning-ai-and-data-skills-in-india-report-646797.html New Delhi Nov 5 Generation Z and fresh graduates are leading the skilling ecosystem in India with a majority of them actively learning artificial intelligence and data skills according to a report on Wednesday The report by Deel a global payroll and compliance platform is based on a survey of 5058 employees representing Gen Z ages 28 or under millennials ages 2944 and Gen X ages 4560It showed that the vast majority of Indias whitecollar professionals 96 per cent have upskilled in the past year however the learning priorities and motivations differ sharply across generationsGen Z and fresh graduates are leading the skilling charge at 61 per cent and 63 per cent respectively with access to upskilling opportunities as a key retention factor to stay with an employerThe younger workforce is also riding the AI wave with more than half of Gen Z 54 per cent and fresh graduates 57 per cent actively learning AI and data skillsMillennials are lagging with only 2 in 5 40 per cent learning new skills Meanwhile Gen X 38 per cent continues to prioritise traditional domain expertise focusing on core professional and functional skills over new technologiesIndias workforce is entering a new era where motivation for learning is high but the barriers differ for each generation said Mark Samlal General Manager APAC at DeelBy curating flexible and accessible learning programmes that align with different life stages and work realities employers can bridge the skills gap and strengthen retention and loyalty across generations Samlal addedGen Z 61 per cent was found to be the most influenced by upskilling when deciding whether to stay with an employer Freshers 63 per cent share the same sentiment showing a strong link between learning access and earlycareer retentionFurther while twothirds of Gen Z 66 per cent are confident that their skills will remain relevant over the next five years less than half of millennials 48 per cent and just over a third of Gen X 36 per cent feel the same wayBut Gen Z cited that cost 31 per cent is holding them back from upskilling On the other hand millennials struggle with time constraints 35 per cent and Gen X points to limited employer support 29 per cent the report said IANS https://dailyworld.in/business/60-pc-gen-z-fresh-graduateskeenonupskilling-learning-ai-and-data-skills-in-india-report-646797.html Wed, 05 Nov 2025 14:23:00 +0530 https://dailyworld.in/business/indias-infra-investment-trust-market-likely-to-touch-rs-21-lakh-crore-by-2030-646798.html New Delhi Nov 5 Indias infrastructure investment trust InvIT market is projected to reach Rs 21 lakh crore by 2030 fuelled primarily by infrastructure investment requirements a report said on Wednesday Asset management firm Client Associates CA in a white paper said that the growth will be driven by 45 trillion in infrastructure investment needs by 2030 government initiatives such as the National Infrastructure Pipeline NIP increased institutional allocations to alternative assetsFurther corporate capital optimisation via InvITs and low retail penetration offering meaningful room for growth the firm saidClient Associates in the white paper reported that InvITs achieved average pretax returns of 1012 per cent and posttax returns of 79 per cent outperforming traditional fixedincome instrumentsInvITs exhibit a distinct riskreturn profile with volatility of 102 per cent versus 154 per cent for equities offering a relatively stable investment profile while delivering total returns of 122 per cent slightly below equities of 123 per cent but providing steady income the report saidAs of FY25 Indias InvIT ecosystem includes 27 registered trusts with a combined AUM of Rs 63 lakh crore having mobilised approximately 158 billion over the past five years it notedThe report highlighted a recent SEBI decision that reclassified REITs as equity for mutual funds while keeping InvITs categorised as hybridsThis shows that REITs are more aligned with equity in terms of structure and liquidity while InvITs are predominantly privately placed with more stable cash flows and lesser liquidity behaving more like debthybrid rather than equity Client Associates highlightedThe white paper mentioned that government reforms are driving growth including the National Infrastructure Pipeline NIP asset monetisation through entities such as NHAI and tax reforms in 2024 that reduced longterm capital gains LTCG IANS https://dailyworld.in/business/indias-infra-investment-trust-market-likely-to-touch-rs-21-lakh-crore-by-2030-646798.html Wed, 05 Nov 2025 14:27:00 +0530 https://dailyworld.in/business/adani-enterprises-reports-strong-84-pc-net-profit-growth-in-q2-core-infra-businesses-shine-646661.html Ahmedabad Nov 4 Adani Enterprises Ltd AEL the flagship company of the Adani Group on Tuesday reported robust results for the JulySeptember quarter and the first six months of the current fiscal FY26 clocking an impressive 84 per cent increase in Q2 net profit at Rs 3199 crore The AEL Board approved a partly paidup rights issue of Rs 25000 crore for strengthening its balance sheet further to support the next phase of incubationConsolidated EBITDA stood at Rs 7688 crore in H1 FY26 while consolidated profit before tax PBT came at Rs 2281 crore the company said in an exchange filingThe emerging core infra businesses have recorded halfyearly EBITDA of Rs 5470 crore with an increase of 5 per cent on a yearonyear basis and now contribute 71 per cent to total EBITDA it informedWith disciplined execution and strategic diversification Adani Enterprises Ltd continues to strengthen its position as Indias leading incubator of transformative infrastructure and energy businesses said Gautam Adani Chairman of the Adani GroupThe inauguration of the Navi Mumbai International Airport marks a defining moment in Indias infrastructure story and reinforces AELs role as a national growth catalyst Our strong performance across airports data centres and roads underscores the momentum of our core infrastructure portfolio the Adani Group Chairman addedWith partnerships such as the one with Google for Indias largest AI data centre and rapid progress in our green energy ecosystem AEL is accelerating Indias transition toward a sustainable technologydriven futureAdani Airports Holdings Ltd AAHL Airports EBITDA increased by 51 per cent YoY to Rs 2157 crore with the airports business now tracking at a quarterly runrate of more than Rs 1000 croreGreenfield Navi Mumbai International Airport was inaugurated on October 8 2025 a major landmark in Indias aviation journey which is set to commence operations from Q3 FY26During the quarter Q2 seven new routes eight new flights and one new airline were addedWithin the Adani New Industries Ltd ANIL module sales continue to track to 1 GW per quarter as domestic sales increased by 43 per cent during H1 FY26 on a YoY basisAccording to the company construction for an additional 6 GW cell and module lines is progressing as per scheduleWe remain committed to building globally competitive businesses that create enduring value for our stakeholders and strengthen the foundation of a selfreliant India Gautam Adani said IANS https://dailyworld.in/business/adani-enterprises-reports-strong-84-pc-net-profit-growth-in-q2-core-infra-businesses-shine-646661.html Tue, 04 Nov 2025 21:28:00 +0530 https://dailyworld.in/business/telangana-cm-seeks-german-support-to-make-hyderabad-global-innovation-hub-646663.html Hyderabad Nov 4 Telangana Chief Minister A Revanth Reddy has sought Germanys support for the vision to develop Hyderabad as a global innovation hub Telangana seeks a strong partnership with Germany in key investment areas including IT pharma and automobiles he said when a delegation led by German Consul General Michael Hasper called on him here on TuesdayThe German delegation informed the Chief Minister that Deutsche Börse a leading global financial services company is launching its Global Capability Centre GCC in Hyderabad as part of its expansion plansThe Chief Minister expressed his gratitude to the German team for choosing Hyderabad as the destination for setting up the GCC He assured that the Telangana government would extend full support and cooperation for all future German investments in the stateAccording to the Chief Ministers Office the German representatives briefed the Chief Minister that with the establishment of Deutsche Borses GCC about 1000 new employment opportunities will be created in the IT sector in Hyderabad over the next two yearsRevanth Reddy requested the German delegation to support Telanganas vision to develop Hyderabad as a global innovation hub He also urged the German Consul General to facilitate the appointment of German language teachers in Telangana so that local students can learn the German language and improve their international employment prospectsHe also proposed collaboration through Telangana Overseas Manpower Company TOMCOM to strengthen vocational education and skill development programs enabling youth to gain practical industry trainingMeanwhile a delegation of Amazon Web Services AWS also called on the Chief Minister in Hyderabad on TuesdayDuring the meeting the delegation discussed with the Chief Minister the ongoing data centre projects expansion plans and other AWS initiatives in TelanganaThe Chief Minister assured the delegation that the Telangana government will extend full support and cooperation for AWSs present and future investments in the stateThe meeting was attended by Kerry Person Global Head AWS Data Centres Vikram Sridharan Director Infrastructure Public Policy and other officials IANS https://dailyworld.in/business/telangana-cm-seeks-german-support-to-make-hyderabad-global-innovation-hub-646663.html Tue, 04 Nov 2025 21:29:00 +0530