DailyWorld News - The First International Newspaper From India https://dailyworld.in/ Wed, 08 Oct 2025 09:43:51 +0530 en https://dailyworld.in/business/s-koreas-coffee-bean-imports-spike-13-pc-in-2024-641898.html Seoul Oct 8 South Koreas imports of coffee beans jumped sharply from a year earlier in 2024 with imports this year widely expected to reach an alltime high customs data showed on Wednesday Imports of coffee beans including both raw and roasted products came to 124 billion last year up 13 per cent from 11 billion the previous year according to the Korea Customs Service KCS reports Yonhap news agencyIn terms of volume imports gained 57 per cent onyear to 194809 tons in 2024Brazil accounted for 21 per cent of the countrys annual import value and 30 per cent of import volumeColombian and Vietnamese coffee ranked second and third respectively shipping 29835 tons and 29781 tons of coffee beans to South Korea last yearCoffee imports are widely expected to reach a record high this year with inbound shipments in the first eight months of the year already nearing the annual total of 2024Imports in the JanuaryAugust period reached 117 billion up 31 per cent from the same period last year the data showedIf the current pace continues this years overall coffee imports are expected to surpass last years total a KCS official saidIn terms of volume imports rose about 1 per cent onyear to 136318 tons in the first eight months of 2025South Koreas coffee imports had been on a steady rise since 2018 hitting an alltime high of 13 billion in 2022 before slightly dipping to 11 billion in 2023Meanwhile according to IndexBox report Asias decaffeinated coffee market is expected to grow strongly reaching 850000 tons in volume and 47 billion in value by 2035India leads the market as both the biggest consumer 274000 tons and top producer holding a 38 per cent shareMost of the regions decaf coffee about 90 per cent is unroasted both in production and consumption IANS https://dailyworld.in/business/s-koreas-coffee-bean-imports-spike-13-pc-in-2024-641898.html Wed, 08 Oct 2025 09:41:00 +0530 https://dailyworld.in/business/ipos-in-s-korea-rise-19-pc-through-q3-641815.html Seoul Oct 7 Initial public offerings IPOs in South Korea rose 19 per cent in the first nine months of the year from a year earlier data showed on Tuesday The proceeds from IPOs stood at 341 trillion won 243 billion in the JanuarySeptember period compared with 285 trillion won for the same period last year according to the data from consulting service provider IR Kudos Corp reports Yonhap news agencyA total of 55 companies made their debuts on the main bourse KOSPI and the techheavy KOSDAQ markets during the cited period up from 47 companies going public a year earlierLG CNS Co an information technology affiliate of LG Electronics Inc amassed the largest amount of IPO money at 119 trillion won followed by DH Shipbuilding Co with 500 billion won and Seoul Guarantee Insurance Co SGI at 182 billion won according to the dataThe consulting firm said IPOs will increase during the rest of the year amid a bullish run the data saidThe countrys benchmark index the KOSPI has advanced more than 43 per cent so far this yearBut the countrys financial regulator said earlier it will introduce stricter rules for IPOsStarting next year over 40 per cent of IPO shares will be first allotted to institutional investors who guarantee the holdings of IPO shares for a certain period usually three to six monthsCurrently only about 20 per cent of IPO shares are sold to such institutional investors to help with the smooth debut of a new company on the stock marketThe measure will come as some institutional investors have been under fire for pocketing decent gains by selling IPO shares on the first day of trading IANS https://dailyworld.in/business/ipos-in-s-korea-rise-19-pc-through-q3-641815.html Tue, 07 Oct 2025 10:01:00 +0530 https://dailyworld.in/business/gold-hits-fresh-record-high-on-mcx-amid-us-economic-uncertainty-641817.html Mumbai Oct 7 Gold prices hit fresh record highs in morning trade on the Multi Commodity Exchange MCX on Tuesday as investors turned to the precious metal amid growing global uncertainties and expectations of more rate cuts by the US Federal Reserve MCX Gold December futures touched an alltime high of Rs 120769 per 10 gramsAround 915 am gold was trading 043 per cent higher at Rs 120769 per 10 grams while MCX Silver December futures were up 012 per cent at Rs 147701 per kgIn the international market gold prices also surged to record highs as investors sought safehaven assets due to rising economic and political tensions in the United StatesExpectations that the US Fed may cut interest rates further have added to the positive sentiment around the yellow metalThe ongoing US government shutdown has deepened worries about the countrys economic stabilityThe deadlock which has now entered its seventh day has frozen about 17 trillion in funds for federal agencies roughly onefourth of the total annual budget and could lead to more job losses according to reportsMarket analysts said traders are now watching key upcoming events including the release of the Federal Open Market Committee FOMC meeting minutes a speech by the Fed Chair Chinas market reopening after the holiday and developments around the US shutdownGold prices rose to an alltime high extending gains to a third session on US economic and political uncertainties and expectations of further interest rate cuts by the Federal Reserve experts saidWhite House backed off President Donald Trumps assertion that government employees were already being laid off due to the shutdown but warned job losses could result as the standoff looked set to stretch into a seventh day market analysts addedAs per the experts the focus this week will be on FOMC meeting minutes Fed chairs speech Chinas reopening after holiday and updates regarding US shutdown IANS https://dailyworld.in/business/gold-hits-fresh-record-high-on-mcx-amid-us-economic-uncertainty-641817.html Tue, 07 Oct 2025 10:05:00 +0530 https://dailyworld.in/business/sensex-nifty-extend-gains-on-buying-in-heavyweights-641818.html Mumbai Oct 7 Indian stock markets continued their upward trend on Tuesday supported by buying in major stocks such as ICICI Bank ITC and more However profit booking in select banking stocks limited the overall gains during the early trading hoursThe Sensex which rose more than 100 points in early trade was trading at 81843 up 52 points or 006 per centThe Nifty also gained 34 points or 014 per cent to reach 25112 after hitting an intraday high of 25140Among the top gainers on the Sensex were Power Grid Bajaj Finance HCL Tech Bharti Airtel ICICI Bank Ultratech Cement NTPC Hindustan Unilever Bajaj Finserv and BEL which rose between 03 per cent and 16 per centOn the other hand Trent Axis Bank Tata Motors TCS SBI Kotak Bank Tech Mahindra HDFC Bank and Infosys were among the major losers slipping up to 27 per centIn the broader market the Nifty MidCap index gained 008 per cent while the Nifty SmallCap index rose 041 per cent showing continued interest from investors in smaller companiesAmong sectoral indices Nifty Metal and Nifty IT were the top performers each gaining 04 per centThe Nifty PSU Bank index was the worst hit falling 03 per cent due to profit booking in public sector lendersAnalysts said that overall market sentiment remains positive though some volatility may persist due to profittaking at higher levelsThe ongoing mild rally in the market has the potential to gain momentum The FII selling in India is slowly declining since the sharp appreciation in other markets has pushed up their valuations and the valuation differential between India and other markets has come down analysts saidSince there is huge short position in the market any positive news can trigger shortcovering further aiding the rally they added IANS https://dailyworld.in/business/sensex-nifty-extend-gains-on-buying-in-heavyweights-641818.html Tue, 07 Oct 2025 10:05:00 +0530 https://dailyworld.in/business/institutional-investments-in-indias-real-estate-hit-43-billion-in-jan-sep-641823.html New Delhi Oct 7 Led by domestic capital institutional investments in the Indian real estate sector stood at 43 billion during the first nine months of 2025 a report showed on Tuesday The ninemonths investment volumes remained above the average of 4 billion inflows in the JanuarySeptember period of last five years according to a Colliers India reportThe trend underscores ongoing investor confidence in the fundamentals of Indian economy and real estate marketThis also reflects the cautious investor approach amid prevailing global headwinds trade frictions and other external volatilitiesInstitutional investments in Indian real estate touched 13 billion in Q3 2025 an 11 per cent increase yearonyear YoY This reflects continued investor confidence in Indias economic fundamentals and resilience of the real estate sector said Badal Yagnik Chief Executive Officer Colliers IndiaDomestic institutional capital surged 52 per cent yearonyear to 22 billion signifying the growing depth of institutional investors in Indian real estateDomestic capital contributed 60 per cent of the quarterly inflows with strong interest in office and residential segments Notably office assets accounted for over threefourths of the domestic investments during the quarter indicating a continued appetite for both ready and developmental commercial propertiesWith sustained demand across core asset classes and increasing depth of domestic capital investment momentum is likely to hold steady even as global headwinds may keep foreign investors cautious in the nearterm said YagnikLooking ahead while domestic institutions are expected to remain a steady source of capital global investors are likely to maintain a cautious stance in the nearterm amid evolving global economic narrative and stricter crossborder capital deployment the report notedInstitutional inflows in the office segment touched 15 billion in the first nine months of 2025 almost at par with the levels seen in the corresponding period of 2024 driving 35 per cent of the inflows in the year so farAfter a relatively subdued first half institutional investments in Indias office segment rebounded strongly in Q3 2025 rising 27 per cent yearonyear to 08 billion Office assets accounted for over 60 per cent of total quarterly inflows led by notable acquisitions of ready commercial properties particularly in Chennai and Pune said Vimal Nadar National Director and Head of Research Colliers IndiaAt 08 billion inflows Mumbai drove 19 per cent of the total investments in 2025 led by deals in office and residential assets followed by Bengaluru IANS https://dailyworld.in/business/institutional-investments-in-indias-real-estate-hit-43-billion-in-jan-sep-641823.html Tue, 07 Oct 2025 10:24:00 +0530 https://dailyworld.in/business/rbi-may-go-for-1-more-rates-cut-gst-reform-and-festive-spending-to-boost-growth-641845.html New Delhi Oct 7 The Reserve Bank of India RBI is likely to go for one more rate cut in the coming months as inflation expectations have dropped sharply a new report said on Tuesday The data compiled by the Bank of Baroda said that while the RBI has so far kept the repo rate unchanged at 55 per cent there is still room for further easing to support growthThe report added that a reduction in GST rates and festive season spending will play a major role in driving Indias economic growth in the ongoing quarterThese factors are expected to give a strong push to consumption and help offset global headwindsAccording to the Monthly Economic Buffet report for September 2025 the Monetary Policy Committee MPC unanimously decided to maintain a neutral policy stance keeping rates steady while monitoring the impact of tariff changes and GST rationalisation on economic activityThe RBI has also revised Indias growth projection for FY26 upwards to 68 per cent from 65 per cent earlier reflecting stronger performance in the first half of the fiscal yearInflation projections on the other hand have been lowered to 26 per cent for FY26 from 31 per cent previouslyThe report pointed out that highfrequency indicators such as air passenger traffic port cargo movement and rail freight have shown signs of moderation indicating a slight slowdown in momentumHowever diesel consumption government spending and bank credit growth have recorded an improvementThe recent GST rate cut and festive season are expected to provide a muchneeded lift to demand in the coming monthsBank of Baroda noted that India continues to be the fastestgrowing major economy in the world largely due to strong domestic consumptionThe report estimated that the combination of GST rate cuts and festive spending could boost overall consumption by Rs 12 lakh crore to Rs 14 lakh crore with a major share coming from weddingrelated expenses IANS https://dailyworld.in/business/rbi-may-go-for-1-more-rates-cut-gst-reform-and-festive-spending-to-boost-growth-641845.html Tue, 07 Oct 2025 12:33:00 +0530 https://dailyworld.in/business/indias-automobile-industry-sees-record-34-pc-yoy-festive-season-growth-fada-641855.html New Delhi Oct 7 Indias automobile industry recorded its highestever sales growth during the Navaratri period from September 22 to September 30 as it grew 34 per cent yearonyear YoY data from the Federation of Automobile Dealers Association revealed on Tuesday Passenger vehicle sales grew 348 per cent while twowheeler sales were up 36 per cent riding on GST reforms The overall sales growth for the September was at 522 per cent at 1827337 units compared to 1736760 in September of the previous year owing to slowdown in sales until September 21The report mentioned that the momentum built in the closing days of September will carry forward into Deepawali marking a promising end to the 42days festive period The report mentioned the auto dealerships are witnessing surging enquiries and bookings across twowheelers passenger vehicles and commercial fleetsIf the logistics and transportation ecosystems work seamlessly this could be the best festive retail season India has ever seen with supply chains matching the countrys celebratory demand according to the reportTwowheeler category sales increased by 61 per cent to 1287735 in September compared to 1208996 for the same month previous year Personal vehicle sales grew by 581 per cent to 299369 as against 282945 in September 2024The reduction in GST rates coupled with festive demand led to renewed enquiries and bookings although limited billing days restricted the full potential of the rebound FADA said in its reportAcross segments a similar pattern played out where retail remained subdued until September 21 followed by a surge once GST 20 reforms came into effectNavratri 2025 will go down as one of the most memorable chapters in Indias automobile retail journey a true Bachat Utsav unleashed by the visionary GST 20 reform announced by Prime Minister Narendra Modi FADA Vice President Sai Giridhar saidAs dealers used this period to replenish inventory stock levels for PV segment rose to around 60 days the report notedMeanwhile during September threewheeler and commercial equipment vehicles saw drop in sales at 720 per cent and 19 per cent respectively IANS https://dailyworld.in/business/indias-automobile-industry-sees-record-34-pc-yoy-festive-season-growth-fada-641855.html Tue, 07 Oct 2025 13:28:00 +0530 https://dailyworld.in/business/revised-cghs-rate-structure-to-boost-healthcare-infra-enable-access-to-quality-care-641857.html New Delhi Oct 7 The revised Central Government Health Scheme CGHS rate structure which comes after 15 long years will boost healthcare infrastructure and enable access to quality care for over 40 lakh CGHS beneficiaries in the country according to reports on Tuesday Effective from October 13 the revised rates will cover approximately 2000 medical procedures including MRI mammography and laparotomy an abdominal surgery among othersThe move addresses the longstanding demand of private healthcare operators to improve pricing of scheme patients owing to inflationary medical costs according to a report by Emkay Global Financial ServicesThe revision represents a favourable development for hospital companies that serve patients under this programme added ratings agency ICRAThe updated policy introduces a tiered rate card system distinguishing between NABHaccredited and nonNABHaccredited facilities and factoring in superspecialty hospitals with over 200 beds as well as hospitals in tier2 and tier3 citiesThis structure is designed to better match reimbursement rates with the actual costs incurred by hospitals ICRA saidThis will also help superspecialty and NABHaccredited hospitals to see higher realisations while also addressing cost differences between major metropolitan areas and smaller citiesSuperspecialty hospitals with more than 200 beds will receive a 15 per cent premium to NABHaccredited hospitals base rate while the nonNABH ones will receive 15 per cent less than the base rateThe move is expected to help beneficiaries get treatment at some of the top hospitals which were previously difficult to access due to the low ratesCertain procedures in categories like nephrology obstetrics urology gastroenterology which were earlier not viable for private operators may now become viable given the sizable hikes undertakenThis should strengthen the healthcare infrastructure thereby enabling access to quality healthcare for the masses and in turn propel volume growth in the long term Emkay Global saidWhile the upward revision in the CGHS rate card is a favourable development one of the key concerns remains the long receivable cycle under government schemes like the CGHS compared with other payer categories such as cashpaying international patients or those covered by insurance ICRA stated IANS https://dailyworld.in/business/revised-cghs-rate-structure-to-boost-healthcare-infra-enable-access-to-quality-care-641857.html Tue, 07 Oct 2025 13:29:00 +0530 https://dailyworld.in/business/indias-office-leasing-grows-24-pc-till-date-report-641861.html New Delhi Oct 7 Indias office market surpassed 1 billion square feet in the third quarter of 2025 and the yeartodate YTD volumes grew 24 per cent YoY positioning the market for an annual record a report said on Tuesday Despite the market being on track for a fresh annual high the report from real estate services firm Knight Frank noted that the leasing during the quarter primarily came from Grade A leasing which represented 88 per cent of quarterly volumes and 92 per cent yeartodate the report notedBengaluru Mumbai and the National Capital Region accounted for half of the volumes transacted and Bengaluru led with 42 million square ft in Q3 2025Hyderabad and Chennai contributed significantly to the volume growth during the quarter achieving a yearoveryear increase of 33 per cent and 9 per cent respectivelyGlobal Capability Centres GCCs accounted for approximately 57 million sq ft of office space transactions making up the largest share at 32 per cent among all occupier segments Bengaluru was the top choice for this segment accounting for a massive 65 per cent of the GCCrelated leasing activity in Q3 2025 the report notedFurther rental levels in the larger office markets of Mumbai NCR and Bengaluru grew by 11 per cent 9 per cent and 6 per cent YoY respectively With global AI adoption accelerating Indias deep talent pool and cost advantages continue to strengthen its appeal as a hub for outsourced IT services the report notedThe Quarters to Sell QTS indicator has remained below 18 months in the eight key markets throughout the past year QTS indicates the time needed to absorb current inventory based on the average sales pace of the past eight quarters The stability of QTS in Indias office market despite an uptick in inventory underscores the resilience of market fundamentals the report noted IANS https://dailyworld.in/business/indias-office-leasing-grows-24-pc-till-date-report-641861.html Tue, 07 Oct 2025 13:55:00 +0530 https://dailyworld.in/business/world-bank-raises-indias-fy26-growth-forecast-country-to-remain-worlds-fastest-641864.html New Delhi Oct 7 India is expected to remain the worlds fastestgrowing major economy underpinned by strong consumption growth improved agricultural output and rural wage growth according to a World Bank report released on Tuesday The World Bank raised Indias growth forecast to 65 per cent for FY26 from its earlier projection of 63 per cent in June citing resilient domestic demand strong rural recovery and the positive impact of tax reformsThe report pegs the growth of Bangladesh at 48 per cent in FY26 while for Bhutan the forecast for FY26 has been downgraded to 73 per cent due to hydropower construction delays but is expected to reverse as construction speed picks up in FY27In Maldives growth is projected to slow to 39 per cent in FY26 while in Nepal recent unrest and heightened political and economic uncertainty is expected to cause growth to decline to 21 per cent in FY26 the report observesIn Sri Lanka the forecast has been upgraded to 35 per cent in FY26 due to strong growth in tourism and service exportsGrowth in South Asia is projected to be robust at 66 per cent this year but is expected to slow to 58 percent in 2026 a downward revision of 06 percentage points from the April forecast Downside risks include spillovers from the global economic slowdown and uncertainty around trade policy sociopolitical unrest in the region and labour market disruptions posed by emerging technology such as artificial intelligence AISouth Asia has enormous economic potential and is still the fastest growing region in the world But countries need to proactively address risks to growth said Johannes Zutt World Bank Vice President for South Asia Countries can boost productivity spur private investment and create jobs for the regions rapidly expanding workforce by maximizing the benefits of AI and lowering trade barriers especially for intermediate goodsThe report recommends harnessing the potential of AI to boost productivity and incomes The rapid development of AI is transforming the global economy and reshaping labor markets South Asias workforce has limited exposure to AI adoption due to the predominance of lowskill agricultural and manual jobs But moderately educated young workers especially in sectors such as business services and information technology are vulnerable Since the release of ChatGPT job listings have fallen by around 20 percent in jobs most exposed to and most replaceable by AI relative to other occupationsBut AI could also bring substantial productivity gains especially in sectors that have strong potential for AI to complement humans Job listings data in the region indicate rapidly growing demand for AI skills with such jobs commanding a wage premium of nearly 30 percent relative to other professional rolesThe reports recommendations include steps to help accelerate job creation by streamlining sizedependent regulations that discourage firms growth better transport and digital connectivity more transparent housing search options upskilling and job matching as well as providing safety nets for affected workers IANS https://dailyworld.in/business/world-bank-raises-indias-fy26-growth-forecast-country-to-remain-worlds-fastest-641864.html Tue, 07 Oct 2025 13:58:00 +0530 https://dailyworld.in/business/indias-office-leasing-grows-24-pc-in-2025-till-date-report-641870.html New Delhi Oct 7 Indias office market surpassed 1 billion square feet in the third quarter of 2025 and the yeartodate YTD volumes grew 24 per cent YoY positioning the market for an annual record a report said on Tuesday Despite the market being on track for a fresh annual high the report from real estate services firm Knight Frank noted that the leasing during the quarter primarily came from Grade A leasing which represented 88 per cent of quarterly volumes and 92 per cent yeartodate the report notedBengaluru Mumbai and the National Capital Region accounted for half of the volumes transacted and Bengaluru led with 42 million square ft in Q3 2025Hyderabad and Chennai contributed significantly to the volume growth during the quarter achieving a yearoveryear increase of 33 per cent and 9 per cent respectivelyGlobal Capability Centres GCCs accounted for approximately 57 million sq ft of office space transactions making up the largest share at 32 per cent among all occupier segments Bengaluru was the top choice for this segment accounting for a massive 65 per cent of the GCCrelated leasing activity in Q3 2025 the report notedFurther rental levels in the larger office markets of Mumbai NCR and Bengaluru grew by 11 per cent 9 per cent and 6 per cent YoY respectively With global AI adoption accelerating Indias deep talent pool and cost advantages continue to strengthen its appeal as a hub for outsourced IT services the report notedThe Quarters to Sell QTS indicator has remained below 18 months in the eight key markets throughout the past year QTS indicates the time needed to absorb current inventory based on the average sales pace of the past eight quarters The stability of QTS in Indias office market despite an uptick in inventory underscores the resilience of market fundamentals the report noted IANS https://dailyworld.in/business/indias-office-leasing-grows-24-pc-in-2025-till-date-report-641870.html Tue, 07 Oct 2025 14:43:00 +0530 https://dailyworld.in/business/global-fintech-fest-fm-sitharaman-unveils-foreign-currency-settlement-system-in-gift-city-641876.html Mumbai Oct 7 With an aim to boost international trade investment and ease of doing business Finance Minister Nirmala Sitharaman on Tuesday unveiled foreign currency settlement system in GIFT City Addressing the Global Fintech Fest 2025 here Sitharaman said that foreign currency settlement system to solve the problem of facilitating seamless transactions on realtime basis enhance liquidity management and ensuring complianceShe further informed that the FCSS will be a payment system within IFSC designed for settling transactions in foreign currency on a realtime basis or near realtime basis GIFT IFSC joins select group of financial centres that include Hong Kong Tokyo Manila and so on having infrastructure to settle foreign currency transactions locally the Finance Minister addedWith the operationalisation of the FCSS GIFT IFSC joins a select group of global financial centres including Hong Kong Tokyo and Manila that have the infrastructure to settle foreign currency transactions locallyTransactions in foreign currency by entities and International Financial Services Centre IFSC are currently settled through the correspondent banking arrangement which is routed through different participants and multiple banks Such transactions are not settled on a realtime basisSitharaman said that FCSS facilities seamless and efficient settlement of foreign currency transactions within IFSC on a realtime basis not 3648 hours enhancing liquidity management and operational resilience ensuring compliance with regulatory oversight under PSS ActStandard Chartereds India unit has been selected for US dollar clearanceThe foreign currency settlement system will function as a payment arrangement in the International Financial Services CentreThis foreign currency settlement system has been designed to ensure that transactions in foreign currency are completed in realtime or around realtimeIndia now ranks third in the world for the number of fintech companies and also leads in digital payment volumes having processed over 18580 crore UPI transactions worth Rs 261 lakh crore in 202425Gujarat International Finance TecCity also called GIFT City is a central business district in Gandhinagar Gujarat IANS https://dailyworld.in/business/global-fintech-fest-fm-sitharaman-unveils-foreign-currency-settlement-system-in-gift-city-641876.html Tue, 07 Oct 2025 14:56:00 +0530 https://dailyworld.in/business/haryana-cm-holds-meetings-with-top-japanese-investors-in-tokyo-641881.html Tokyo Oct 7 IANS The delegation led by Haryana Chief Minister of Nayab Singh Saini held a series of meetings with senior representatives of leading Japanese investors including Aisin Air Water TASI Nambu Denso Sojitz Nissin Foods Kawakin Holdings Toppan TDK Corporation and Seiren Corporation in Tokyo on TuesdaynbspThese projects are expected to provide a further boost to the manufacturing ecosystem in Haryana and generate significant employmentChief Minister of Haryana Nayab Singh Saini held oneonone meetings with leading Japanese corporations including Ms Aisin Air Water TASI Nambu Denso Sojitz Nissin Foods Kawakin Holdings Toppan TDK Corporation and Seiren Corporation Discussions were held on green field investments in the field of automotive electronics and precision components industrial parts metalworking industries and processed foods among others the Indian Embassy in Tokyo posted on X on TuesdayMeaningful discussions were held on enhancement of Small and Medium Enterprise SME engagement and technological collaboration Haryana Government showcased their policy on Model Industrial Townships and encouraged Japanese companies to come and invest in Haryana the post addednbspOn Monday Saini along with Tatsuya Maruyama Governor of Shimane Prefecture Hajime Ikeda Speaker Shimane Prefecture Assembly and R Madhu Sudan Charge dAffaires at the Embassy of India in Tokyo addressed the celebration of IndiaJapan Partnership Shimane Haryana at the Indian Embassy to enhance the collaboration between the two countries particularly Shimane and India especially HaryanaThe delegation led by CM Saini also travelled from Tokyo to Osaka via the Shinkansen Osaka Bullet Train which is renowned for its infrastructure and operational excellence As part of the Viksit Bharat initiative of the Government of India a similar highspeed train corridor is being developed between Mumbai to Ahmedabad under the leadership of Prime Minister Narendra ModiAdditionally the Chief Minister along with the Charge dAffaires interacted with the Indian community and celebrated the International Geeta Mahotsav organised by the Embassy of India in JapannbspParticipated in the Gita Mahotsav celebrations a grand event that showcased the rich tapestry of religion culture art and heritage The celebrations witnessed enthusiastic participation from the Indian diaspora and international devotees reflecting the timeless relevance of the Bhagavad Gita and reaffirming Haryanas position as a beacon of spiritual and cultural heritage on the global stage Saini posted on X https://dailyworld.in/business/haryana-cm-holds-meetings-with-top-japanese-investors-in-tokyo-641881.html Tue, 07 Oct 2025 17:58:00 +0530 https://dailyworld.in/business/haryana-cm-meets-japanese-investors-in-tokyo-seeks-investments--641800.html Chandigarh Oct 6 IANS Haryana Chief Minister Nayab Singh Saini during his ongoing visit to Japan on Monday met Shimane Prefecture Governor Tatsuya Maruyama and held discussions to explore opportunities for technology exchange innovation and joint ventures between enterprises from both regionsnbspAfter the meeting the Chief Minister participated in the HaryanaShimane Prefecture Roadshow held in TokyonbspAddressing a gathering of industrialists and investors he highlighted the longstanding cultural and historical ties between India and JapanHe said that our relationship with Japan dates back thousands of years and is deeply rooted in history and shared values Just as Shimane Prefecture upholds its enduring traditions Haryana is one of the most ancient and revered regions of Indian civilisation It is home to the sacred land of Dharmakshetra Kurukshetra where Lord Krishna delivered the divine message of the Bhagavad Gita Haryana represents the essence of duty righteousness and wisdomThe Chief Minister said that the relationship between India and Japan is a special strategic and global partnership underpinned by deep mutual trust shared democratic values and commitment to cooperationnbspReferring to the recent visit of Prime Minister Narendra Modi to Japan he said that it has further strengthened bilateral ties with Japanese industrialists and investors pledging to invest 10 trillion yen in India over the next decadeChief Minister Saini urged Japanese businesses to channel a greater share of this investment into Haryana highlighting the states strong industrial ecosystem investorfriendly environment and strategic advantagesnbspHe said that Shimane and Haryana complement each other in multiple ways with both regions sharing a proud legacy rooted in quality precision and innovationnbspEach boasts robust industrial infrastructure including stateoftheart industrial parks smart logistics facilities and a growing focus on green energynbspHighlighting the longstanding ties between the two regions the Chief Minister said that Haryana has been Japans most trusted industrial partner in India for decades beginning with the establishment of Maruti Suzukis first manufacturing plant in the state in 1980sThis landmark investment transformed Indias mobility sector and laid the foundation for a worldclass industrial ecosystem in HaryananbspHe said that today Haryana is home to the highest number of Japanese companies in India underscoring its reputation as a hub of culture enterprise and innovation a home away from home for Japanese businessesnbspStrategically located Haryana borders the national capital Delhi on three sides and offers worldclass infrastructure including the KundliManesarPalwal Expressway and an integrated multimodal logistics hubnbspThe Chief Minister extended a warm invitation to investors industrialists and innovators to explore opportunities in Haryana https://dailyworld.in/business/haryana-cm-meets-japanese-investors-in-tokyo-seeks-investments--641800.html Mon, 06 Oct 2025 18:26:00 +0530 https://dailyworld.in/business/sensex-nifty-open-higher-ahead-of-q2-earnings-season-641702.html New Delhi Oct 6 Indian stock markets opened slightly higher on Monday supported by gains in banking and IT shares as investor sentiment improved following the Reserve Bank of Indias recent lending reforms and ahead of the upcoming quarterly earnings season At the opening bell the Sensex rose 67 points or nearly 009 per cent to 8127479 while the Nifty advanced 22 points or nearly 010 per cent to 2491655Among the major gainers on the Sensex were Bajaj Finance HDFC Bank Axis Bank HCL Tech TCS Trent and Infosys which climbed up to 1 per centIn the broader markets the Nifty MidCap and Nifty SmallCap indices also moved up by 011 per cent and 008 per cent respectivelyMarket analysts said the Indian equity benchmarks showed strength despite global uncertainties and domestic challengesThey attributed the positive momentum to the RBIs dovish stance which kept the repo rate unchanged at 55 per cent while lowering the inflation forecast for FY26 and raising the GDP growth outlookCapital market lending reforms and expectations of strong festive demand also boosted investor confidence analysts addedAnalysts however advised traders to remain cautious amid ongoing volatilityA buyondips strategy remains advisable especially in leveraged positions Investors should book partial profits on rallies and use tight stoplosses Fresh long positions should be taken only if the Nifty sustains above the 25000 mark they saidThis week market activity is expected to be influenced by corporate earnings announcements management commentaries on the second half of FY26 developments in the IPO market the release of FOMC minutes and US Federal Reserve Chair Jerome Powells speechHopes of progress in the IndiaUS trade deal are also likely to guide investor sentimentOn Friday both benchmark indices had extended their rally for a second straight sessionThe Sensex had closed 22386 points or 028 per cent higher at 8120717 while the Nifty rose 5795 points or 023 per cent to settle at 2489425 IANS https://dailyworld.in/business/sensex-nifty-open-higher-ahead-of-q2-earnings-season-641702.html Mon, 06 Oct 2025 10:35:00 +0530 https://dailyworld.in/business/securities-firms-set-to-further-rise-on-increased-turnover-friendly-policies-641705.html Seoul Oct 6 Shares in securities firms which have already doubled this year are widely expected to further advance down the road on the back of increased turnover and marketfriendly steps industry watchers said on Monday According to the Korea Exchange KRX the index tracking listed securities firms stock movement has nearly doubled this year joining the ranks of topperforming sectors reports Yonhap news agencyThe benchmark index the KOSPI has rallied by more than 43 per cent so far this year and retail investors flocked to the market out of fear of missing outIn September alone the securities firmtracking stock index gained 82 per cent far higher than the 05 per cent gain of the KOSPIIn line with a market bull run the daily stock turnover which includes transactions on the countrys first alternative stock trading platform NXT reached 27 trillion won 193 billion up from the previous months 227 trillion wonDuring the third quarter of the year the daily turnover rose 97 per cent onquarter to 26 trillion wonForeign buying coupled with increased turnover will help propel the local stock market said Koh Yeonsu an analyst at Hana SecuritiesSecurities firms are positioned to benefit from this trend Yeonsu addedYoon Yudong an analyst at NH Investment amp Securities said backed by an easing monetary cycle the daily turnover will reach 30 trillion won this year and further rise to 37 trillion won in 2026 and 43 trillion won in 2027Analysts said a series of marketfriendly measures such as treasury share reform and tax policies are another boon for securities firmsAll conditions are ripe for brokerage firms earnings improvement said Yoon of NH Investment amp SecuritiesIt will be one of the shining sectors this year Yoon added IANS https://dailyworld.in/business/securities-firms-set-to-further-rise-on-increased-turnover-friendly-policies-641705.html Mon, 06 Oct 2025 10:41:00 +0530 https://dailyworld.in/business/indias-services-pmi-stands-at-609-in-september-641712.html New Delhi Oct 6 Indias services sector activity remained steady in September with the HSBC India Services Purchasing Managers Index PMI standing at 609 according to data released by SampP Global on Monday Pranjul Bhandari Chief India Economist at HSBC said business activity in the services sector remained strong even though it was slightly lower than the recent high seen in AugustMost trackers moderated but nothing in the survey suggested there is a big loss in growth momentum in services she saidInstead the Future Activity Index rose to its highest level since March indicating strengthening optimism among services companies about business prospects she addedThe PMI reading signalled continued stability in Indias services economy supported by firm demand new business activity and a positive outlook among companiesThe sector has remained one of the key contributors to Indias overall economic performance this yearMeanwhile Indias manufacturing sector also maintained its growth momentum in September though at a slower paceThe HSBC India Manufacturing PMI stood at 577 down from 593 in August marking the weakest improvement in sector health since MayHowever the figure remains well above the neutral 50 level which separates expansion from contractionThe September report highlighted that manufacturing output continued to grow on the back of steady demand though firms reported a mild slowdown in new orders and purchasing activityEmployment levels and input inventories remained stable reflecting confidence in the business outlook for the coming monthsIn August Indias manufacturing PMI had climbed to 593 driven by strong domestic demand and robust productionAccording to SampP Global that was the fastest improvement in operating conditions in over 17 years with much of the momentum coming from advertising success and demand buoyancy across intermediate and capital goods categoriesAnalysts believe that while both manufacturing and services sectors moderated slightly in September the overall growth momentum in Indias economy remains firm supported by steady domestic demand policy stability and improving business confidence IANS https://dailyworld.in/business/indias-services-pmi-stands-at-609-in-september-641712.html Mon, 06 Oct 2025 11:15:00 +0530 https://dailyworld.in/business/indias-consumption-revival-likely-to-accelerate-in-h2-fy26-report-641730.html Mumbai Oct 6 Indias consumption revival is expected to gain strong momentum in the second half of FY2026 supported by tax cuts rate reductions and GST rationalisation a new report said on Monday The data compiled by MP Financial Advisory Services LLP MPFASL said that these policy measures combined with a better monsoon and easing inflation are creating a favourable environment for household demand and spendingThe report said that this regulatory trident of supportive measures is likely to boost disposable incomes reduce borrowing costs and lower retail prices helping revive Indias consumption enginePrivate final consumption expenditure which accounts for nearly 61 per cent of Indias GDP is projected to rise meaningfully in the latter half of the fiscal yearMahendra Patil Founder and Managing Partner at MP Financial Advisory Services LLP said the overall economic backdrop is more supportive than in recent yearsA stronger monsoon this year is expected to boost agricultural output leading to improved rural incomes and healthier cash flows This in turn should support a pickup in rural consumption and complement the recovery in urban discretionary demand he saidThe report pointed out that inflation has eased significantly giving consumers more spending powerAccording to the report the RBIs decision in October to keep the repo rate unchanged at 55 per cent shows confidence in Indias growth outlook and price stabilityThe stable policy stance ensures that the benefits of earlier rate cuts and surplus liquidity continue to reach households and businesses reinforcing consumption recoveryMPFASL expects the consumptionled growth to strengthen further in FY2026 helping GDP growth approach 7 per cent by FY2027 higher than the RBIs current projection of 65 per cent for this fiscal yearRising consumption is also expected to trigger a virtuous cycle of investment credit expansion and job creationThe report added that Indias middle class stands to benefit the most from the current economic setupWith inflation easing and liquidity ample households have greater flexibility to spend on items such as consumer durables electronics and lifestyle productsEarly signs of this shift are visible in rising demand for premium FMCG products and higher sales of appliances like televisions and refrigerators IANS https://dailyworld.in/business/indias-consumption-revival-likely-to-accelerate-in-h2-fy26-report-641730.html Mon, 06 Oct 2025 13:17:00 +0530 https://dailyworld.in/business/india-eu-kick-off-fresh-round-of-fta-talks-in-brussels-today-641735.html New Delhi Oct 6 India and the European Union will begin the 14th round of negotiations for the proposed Free Trade Agreement FTA in Brussels on Monday senior officials said The fresh round of talks between senior officials will extend over a period of five days This will be followed up by another meeting between Commerce Minister Piyush Goyal and his EU counterpart Maros Sefcovic in South Africa on the sidelines of the G20 trade commissioners summitThe proposed IndiaEU FTA covers 23 policy areas or chapters of which at least two market access and rules of origin have yet to be resolvedEU Ambassador Hervé Delphin said on Saturday that India and the EU should use the FTA to increase bilateral trade and investment at a time when some countries are raising tariffs or otherwise closing their markets in an oblique reference to the USThe FTA can open new opportunities for EU and Indian businesses and create conditions to significantly increase our bilateral trade and investment While some countries are raising tariffs or otherwise closing their markets we should use the FTA to diversify trade hedge against uncertainties and strengthen our supply chains he addedHe highlighted that EU President Ursula von der Leyen and PM Modi set the objective to conclude the FTA by the end of this year The negotiating teams are working hard to deliver it but its fair to say the negotiations are challenging and important issues remain to be resolved he addedThe EU is ready to conclude a meaningful package We look forward to the next round and further negotiations towards a mutually beneficial deal Delphin saidDelphin further highlighted that the EU is Indias top trading partner with bilateral trade in goods of EUR 120 billion ahead of the US and ChinaAdding services our bilateral trade has reached EUR 180 billion This is an impressive figure but there is a huge potential for growth considering that the EU and India are the second and the fourthlargest economies in the world To unlock this untapped potential EU and India are negotiating the FTA he addedCommerce Minister Piyush Goyal recently said We remain committed to achieving a balanced and mutuallybeneficial FTA opening new avenues for businesses and maximising opportunities for the shared growth of India and the EU IANS https://dailyworld.in/business/india-eu-kick-off-fresh-round-of-fta-talks-in-brussels-today-641735.html Mon, 06 Oct 2025 13:48:00 +0530 https://dailyworld.in/business/meta-announces-launch-of-apacs-largest-capacity-subsea-cable-in-2028-641744.html New Delhi Oct 6 US tech giant Meta has announced the launch of the largest capacity subsea cable in the AsiaPacific region called Candle in 2028 Candle will span approximately 8000 kilometres bringing increased connectivity to Japan Taiwan the Philippines Indonesia Malaysia and Singapore the company said in a statementThe project will offer a capacity of around 570 terabits per second Tbps serving over 580 million people according to the company Meta announced that Candle will use 24 fibrepair technology to deliver bandwidth similar to its largest capacity cable namely Anjana The new cable will be developed in collaboration with regional telecom partners the company notedThe company also shared updates to several existing subsea projects including the completion of the Bifrost cable systemThe AsiaPacific APAC region is home to over 58 per cent of the worlds internet users many who rely on robust global infrastructure for online connectivity and access to innovative tech such as AIThe company reported recent advancements on the Bifrost Echo and Apricot cables Bifrost now connects Singapore Indonesia the Philippines and the United States with Mexico expected in 2026 Bifrost will chart a different path from prior transpacific cables to add over 260 Tbps of redundancy to this popular digital routeEcho now delivers 260 Tbps of capacity between Guam and California with options for onward connectivity into Asia in the futureWith future extensions to the Philippines Indonesia and Singapore Metas Apricot system has a 12000kilometre span that will complement the Bifrost and Echo systems with 290 Tbps of capacityMeanwhile Meta is reportedly hiring contractors in the United States at rates of up to 55 around Rs 4850 per hour to develop Hindilanguage AI chatbots designed for Indian users IANS https://dailyworld.in/business/meta-announces-launch-of-apacs-largest-capacity-subsea-cable-in-2028-641744.html Mon, 06 Oct 2025 15:10:00 +0530 https://dailyworld.in/business/zerodha-faces-outage-users-report-losses-amid-glitches-641767.html New Delhi Oct 6 Stock trading platform Zerodha faced a major outage on Monday leaving thousands of users unable to trade According to Downdetector 88 per cent of complaints were related to trading issues while 13 per cent pertained to the websiteThe platform experienced a sudden surge in problem reports which Downdetector flags when incidents exceed typical volume for that time of dayUsers quickly took to social media platform X to voice their frustrationAmid the chaos one user wrote on X Zerodha was down today and I lost money because of their error This glitch is happening way too often and it feels like the team has zero responsibility Losing money due to their negligence is unacceptableAnother user posted Nifty hits 25000 again Zerodha Im going downAnother expressed anger at pending orders writing Zerodha is down My orders are pending Wake up Zerodha and fix the issue immediatelyA separate complaint highlighted deeper concerns stating Looks like Zerodha is gradually losing its edge Support responses often miss the actual context replying without reading the query properly I was referring to margin not order execution The lack of attention to detail is disappointing from a platform once known for its precisionZerodha later sent updates to affected users assuring them that the problem had been resolvedThe message read Some of your orders would have shown under the pending status The issue is now resolved and you can check the updated order status on Kite We regret the inconvenience causedMeanwhile in September this year also the online brokerage was hit by the technical glitch which left users unable to view price updates on its Kite applicationThe technical issue prompted a wave of complaints across social media on September 3 where users recalled similar instances in the pastFollowing the complaints Zerodha acknowledged the problem on the social media platform X adding that order placement was not affected IANS https://dailyworld.in/business/zerodha-faces-outage-users-report-losses-amid-glitches-641767.html Mon, 06 Oct 2025 16:42:00 +0530 https://dailyworld.in/business/make-in-india-booster-eli-lilly-announces-1-billion-investment-in-country-641768.html New Delhi Oct 6 US pharma giant Eli Lilly on Monday announced plans to invest more than 1 billion in India over the next several years for new contract manufacturing boosting the countrys Make in India goal The strategic investment is expected to expand patients access to the companys key medicines including those for obesity diabetes Alzheimers cancer and autoimmune conditions around the world the company saidLillys investment in India reflects confidence in Indias skilled talent robust infrastructure and businessfriendly policies while supporting Lillys journey as a global leader in life sciences Together we are shaping a stronger future for healthcare and manufacturing We are proud to support Lillys growth journey in India and wish them continued success in the years ahead said Nivruti Rai Managing Director amp CEO Invest India Ministry of Commerce amp IndustryLilly also plans to establish a new manufacturing and quality facility in Hyderabad The new hub will offer advanced technical capabilities and oversight for Lillys contract manufacturing network across the countryLillys continued expansion in Hyderabad highlights the citys emergence as a powerhouse in global healthcare innovation From the recent opening of its innovation and technology site to a new manufacturing collaboration and the establishment of a manufacturing and quality hub Lilly is moving swiftly to expand its presence in Telangana reinforcing the states position as a preferred destination for cuttingedge healthcare investments said A Revanth Reddy Honble Chief Minister of TelanganaThe company noted that it will immediately begin recruitment across roles such as engineers chemists analytical scientists quality control and assurance professionals and management positions in a boost to Indias highly skilled talent poolThe investment reaffirms our confidence in India as a hub for capability building within our global network said Patrik Jonsson Executive Vice President and President Lilly International Eli Lilly and Company IANS https://dailyworld.in/business/make-in-india-booster-eli-lilly-announces-1-billion-investment-in-country-641768.html Mon, 06 Oct 2025 16:43:00 +0530 https://dailyworld.in/business/tec-iiit-naya-raipur-sign-mou-to-collaborate-on-next-gen-telecom-tech-641586.html New Delhi Oct 4 The Telecommunication Engineering Centre TEC the technical arm of the Department of Telecommunications DoT has signed a memorandum of understanding MoU with the International Institute of Information Technology IIIT Naya Raipur the Ministry of Communication said in a statement on Saturday The partnership aims to jointly work on research innovation and standardisation in nextgeneration telecommunications technologiesThis collaboration brings together TECs leadership in telecom standardisation and IIIT Naya Raipurs expertise in academic research to strengthen Indias role in global telecom innovation the ministry saidThe partnership will focus on several key areas One important area is Open RAN and network disaggregation where both institutions will work on developing open interfaces modular architectures virtualisation and ensuring interoperability across vendorsAnother focus area is cognitive radio and spectrum sharing where research will be carried out on coexistence frameworks and studies that align with global spectrum policies including the agenda of the upcoming World Radiocommunication Conference WRC27In addition joint research will be undertaken in 5G 6G and IoT frameworks including the creation of advanced test environments to support future generations of networks Both partners will also actively contribute to global and national standardisation efforts participating in ITUT Study Groups and TECs National Working Groups to represent Indias interestsA significant part of the collaboration will be the development of Indiaspecific test frameworks standards and interoperability solutions tailored to the countrys diverse digital ecosystem These efforts will help ensure that solutions are affordable interoperable and suited to Indias unique connectivity needsThe partnership will boost Indias participation in international telecom standards and policy forums By creating joint research testbeds and realworld collaborations it will accelerate innovation in emerging communication technologiesIt also supports the vision of Atmanirbhar Bharat by fostering indigenous research design and development in telecom the statement saidThe initiative will promote affordable interoperable and vendorneutral solutions tailored for Indias diverse connectivity needs while preparing the nation for 6G networks and advanced IoT applications IANS https://dailyworld.in/business/tec-iiit-naya-raipur-sign-mou-to-collaborate-on-next-gen-telecom-tech-641586.html Sun, 05 Oct 2025 00:29:00 +0530 https://dailyworld.in/business/nse-reduces-lot-sizes-for-nifty-50-other-index-derivatives-from-oct-28-641612.html Mumbai Oct 5 The National Stock Exchange NSE has announced that it will revise market lot sizes for four major index futures and options contracts including Nifty 50 effective from October 28 The lot size for the Nifty 50 index has been reduced from 75 to 65 and the Nifty Bank lot size has been cut from 35 to 30 according to an official statementThe Nifty Financial Services lot size is now 60 down from 65 while the Nifty Mid Select index has been reduced from 140 to 120 The market lot of derivative contracts for the Nifty Next 50 Index was kept unchangedInvestors can continue to trade with current lot sizes until the December 30 2025 expiry after which all new contracts of any maturity will follow the revised smaller lot sizesMembers are advised to inform their clients who have positions or take any new positions in the quarterly and halfyearly contracts of the upcoming revision in lot size on the belowmentioned dates NSE saidThe current lot size for Niftys weekly and monthly contracts will expire on December 23 while the monthly Nifty and Bank Nifty contracts will expire on December 30 All new contracts after these dates will adhere to the revised sizesThe NSE revises lot sizes of futures amp options contracts primarily to keep the contract value within a standard range and to keep the contracts affordable and standardisedTraders do not have to pay the full value of the contract upfront as derivatives are leveraged instruments but their lot size determines the participants exposure and the margin requiredLot size revisions are undertaken by stock exchanges to enhance market efficiency and liquidity as well as to ensure that contracts are more appealing to a broader range of market participants IANS https://dailyworld.in/business/nse-reduces-lot-sizes-for-nifty-50-other-index-derivatives-from-oct-28-641612.html Sun, 05 Oct 2025 10:10:00 +0530 https://dailyworld.in/business/swadeshi-campaigns-to-help-domestic-textiles-demand-reach-250-billion-by-2030-641620.html New Delhi Oct 5 The Ministry of Textiles has announced it will run a nationwide Swadeshi Campaign for the next six to nine months to boost the domestic demand for handloom handicrafts and textile products especially among urban millennials and Gen Z After the implementation of Swadeshi campaigns the domestic demand shall increase by a CAGR of 910 per cent per annum to reach a total domestic demand of textiles of 250 billion by 2030 the ministry said in a statementIndias textiles and clothing market reached a valuation of 179 billion in 2024 with an annual growth rate exceeding 7 per cent the government informedThe contribution of the household HH sector to the domestic market is 58 per cent and it is growing at a CAGR of 819 per centMeanwhile the nonhousehold consumption is 21 per cent of the domestic market and is growing at a CAGR of 679 per centThe Swadeshi campaign will be run across India to boost textile consumption among urban millennials and Gen Z while enhancing market access and income opportunities for weavers artisans and MSMEsThe campaign aims to reposition Indian textiles as symbols of pride and style especially for younger consumersMinistries public sector units and educational institutions will be encouraged to adopt Indianmade textiles for uniforms and furnishings an official statement saidThe ministry announced that the initiative complements existing programs including the productionlinked incentive scheme for textiles PM MITRA Parks and the One District One Product initiativeEvents social media outreach and statelevel participation will promote the slogan of the campaign the release saidThe recent changes in the GST rates will enhance demand for the textiles and apparels in the household and nonhousehold sectors which may yield higher growth rates in the consumption of textiles in the country the government said IANS https://dailyworld.in/business/swadeshi-campaigns-to-help-domestic-textiles-demand-reach-250-billion-by-2030-641620.html Sun, 05 Oct 2025 13:43:00 +0530 https://dailyworld.in/business/tn-to-roll-out-20-sleeper-buses-promising-luxury-safety-for-long-distance-travellers-641621.html Chennai Oct 5 Tamil Nadu State Express Transport Corporation SETC is gearing up to make longdistance public transport more comfortable and competitive by introducing 20 stateoftheart Volvo sleeper buses Officials confirmed that this is the first time the staterun corporation will operate premium sleeper coaches aiming to provide passengers with a safer and more luxurious travel experienceThe new fleet consists of fully built 15metre multiaxle airconditioned diesel buses designed to serve major longdistance routes within Tamil Nadu and neighbouring statesSETC has traditionally faced competition from private omnibuses especially during festive seasons and long weekends when fares skyrocketWith the arrival of these highend vehicles the corporation hopes to offer passengers a reliable alternative without compromising on comfort or safetyEach bus is equipped with advanced rideenhancing features including electronically controlled full air suspension to ensure a smooth journeySafety has been prioritised with allwheel disc brakes Antilock Braking System ABS Hill Start Aid and Electronic Vehicle Stability ControlThe fire detection and suppression system compliant with AIS 135 standards is another crucial addition to protect passengers during emergenciesThe interiors reflect an upscale travel experience They are built with highgrade ABS materials antiskid vinyl flooring and a theatrestyle raised gangway for better visibility and comfortEach sleeper berth is designed for privacy and convenience complemented by passengerfriendly features such as LED televisions USB charging points individual reading lights and provision for WiFi connectivitySome buses will also have lavatories a first for SETC sleeper services While the new luxury coaches cost nearly double the price of conventional airconditioned busesSETC officials said a revised fare structure is being planned to balance affordability with the enhanced amenities on offerThe move comes as part of a broader push by the Tamil Nadu government to modernise its public transport network improve safety standards and reduce dependence on private playersOnce deployed the Volvo sleeper buses are expected to transform longhaul travel especially during highdemand festival seasons providing passengers with a more comfortable and dependable choice IANS https://dailyworld.in/business/tn-to-roll-out-20-sleeper-buses-promising-luxury-safety-for-long-distance-travellers-641621.html Sun, 05 Oct 2025 13:45:00 +0530 https://dailyworld.in/business/earnings-season-us-shutdown-fomc-minutes-likely-to-drive-indian-markets-next-week-641629.html Mumbai Oct 5 The coming week will be crucial for Indian stock markets as key triggers such as Q2 earnings the US government shutdown FOMC minutes and other major economic data are likely to determine market trends Starting next week companies will begin announcing their financial results for the JulySeptember quarter Q2On October 9 Tata Consultancy Services TCS and Tata Elxsi are scheduled to release their September quarter resultsMeanwhile the IPO market will also attract investors attention The Tata Capital IPO is set to open next week while updates regarding LG Electronics IPO are also expected to influence market sentimentThe minutes of the US Federal Open Market Committee FOMC will be released providing detailed insights into the discussions held during the meeting on September 1617 regarding interest rate decisionsGlobal investors are closely watching the US government shutdown which is likely to continue into next week amid the funding standoff between Democrats and RepublicansCommenting on the technical outlook analysts said that on the weekly timeframe Bank Nifty continues to hold firm above the 20week EMA suggesting sustained strength and supporting the broader bullish undertoneIf selling pressure reemerges and the index decisively breaks below 55140 further downside towards 55000 and 53832 200day EMA may unfold On the upside immediate resistance is placed at 55850 followed by 56000 and 56400 analysts addedOn the daily timeframe Nifty found strong support near the 24600 zone and rebounded higher posting two consecutive green candles which reflects renewed buying interest and improving sentiment they addedMeanwhile Indian stock markets performed well in the previous week The Nifty gained 239 points or 097 per cent to close at 24894 while the Sensex rose 780 points or 097 per cent to end at 81207Between September 29 and October 3 the Nifty PSU Bank index topped the sectoral chart with a 443 per cent rise followed by Nifty Metal up 393 per cent Nifty Private Bank up 253 per cent Nifty Media up 187 per cent and Nifty PSE up 277 per centBuying interest was also seen in midcap and smallcap segments The Nifty Midcap 100 index climbed 1124 points or 2 per cent to close at 57503 while the Nifty Smallcap 100 index advanced 317 points or 181 per cent to settle at 17787 IANS https://dailyworld.in/business/earnings-season-us-shutdown-fomc-minutes-likely-to-drive-indian-markets-next-week-641629.html Sun, 05 Oct 2025 13:50:00 +0530 https://dailyworld.in/business/arattais-engineering-has-lot-of-depth-zohos-sridhar-vembu-641639.html New Delhi Oct 5 Zohos Chief Scientist and Cofounder Sridhar Vembu on Sunday explained the technological depth of homegrown engineering behind Arattai Zohos Indiamade messaging app The application has gained significant traction on social media this week following endorsements from business leadersVembu announced on X that Arattais messagingAV framework is built on 15 years of research and the application has a distributed framework that allows decentralisation of workload among many servers and databases and provides fault tolerance performance monitoring and securitySridhar Vembu wrote Arattai is on the surface a simple product but it has a lot of depth inside Let me list the engineering frameworks all homegrown that power Arattai First is what we call our messagingAV framework This has been the realtime workhorse of Zoho for a while and this is what offers you those crisp calls and meetings that connect quickly It has been perfected for 15 yearsThe distributed framework of the application is the backbone of Zoho and powers a lot of what you see on the surface and also keeps our systems secure We have been perfecting this for over 20 years now he addedZoho has teams actively working on these frameworks and providing strong support to the Arattai team he said adding that the customers can expect more innovations from the platform soonVembu has earlier said the company does not want Arattai to be a closed ecosystem like WhatsApp but instead an open network that works seamlessly across platformsArattai launched in 2021 is positioned as a privacyfirst messaging app with all Indian user data hosted within the countryVoice and video calls are already endtoend encrypted while standard messages will get encryption in future updatesSince September 25 Arattai has been averaging around one lakh downloads per day compared to just 300 earlier while daily active users rose 40 times in last week of SeptemberThe surge began after government representatives highlighted the app driving it to the top of Indias app charts IANS https://dailyworld.in/business/arattais-engineering-has-lot-of-depth-zohos-sridhar-vembu-641639.html Sun, 05 Oct 2025 13:58:00 +0530 https://dailyworld.in/business/grokipedia-beta-version-to-launch-in-2-months-elon-musk-641650.html New Delhi Oct 5 Tesla and SpaceX CEO Elon Musk informed on Sunday that an early beta of Grokipedia an xAIbuilt competitor to knowledge platform Wikipedia will launch in two weeks Musk retweeted a post by an X user amXFreeze that called Grokipedia the worlds largest and most accurate knowledge source for humans and AI with no limits on useGrok is using massive amounts of inference compute to look at sources like Wikipedia page and asking Whats true partially true false or missing the tweet readIt will analyse sources like Wikipedia flagging falsehoods correcting halftruths and adding missing context in its entries it saidThe reason why it will be the true knowledge source is because its built solely for the truth and to navigate to the truth free from bias or hidden agendas Elon never does anything by half measures he dives straight to the full extent the tweet saidMusk has consistently criticised Wikipedias funding and editorial approach His proposal to use AI to navigate to the truth has generated mixed reactions on X with some users expressing support for a new competitor while others caution that Groks training data may introduce new biasesGrokipedia he has stated in earlier announcements is intended to be a massive improvement over Wikipedia and a step towards xAIs goal of understanding the universeElon Musk on October 2 became the worlds first person ever to reach a net worth of 500 billion followed by Oracles Larry Ellison at a distant secondMusks AI startup xAI was valued at 75 billion as of July xAI was targeting a 200 billion valuation after a fundraise although Musk said the company was not raising capital at that time IANS https://dailyworld.in/business/grokipedia-beta-version-to-launch-in-2-months-elon-musk-641650.html Sun, 05 Oct 2025 14:27:00 +0530 https://dailyworld.in/business/pakistans-big-bitcoin-push-faces-legal-energy-and-fraud-challenges-641662.html New Delhi Oct 5 Pakistans ambitious push into Bitcoin and digital finance is raising concerns among experts as the country grapples with weak regulations energy challenges and a history of cryptorelated fraud While the government aims to use Bitcoin as a national savings mechanism and attract foreign investment analysts warn that the plan may be premature and fraught with risksIn March 2025 the government established the Pakistan Crypto Council PCC led by Bilal Bin Saqib the State Minister for Crypto amp Blockchain as per Financial Post reportLater in May 2025 Pakistan announced the creation of its first governmentled Strategic Bitcoin Reserve during the Bitcoin 2025 conference in Las VegasAlongside the PCC the Pakistan Digital Assets Authority PDAA was formed to draft regulations for cryptocurrencies digital wallets and blockchain systemsThese institutions aim to formalise and harness the power of digital assets with plans to use Bitcoin as a national savings mechanismThe announcement of a strategic Bitcoin reserve has caught global markets off guard the report saidHowever questions arise about whether the government has acted prematurely unveiling its plans before laying the necessary groundworkThe success of this strategy depends on Pakistans ability to establish a clear and enforceable regulatory framework that can protect investors and ensure transparencyPakistans energy sector faces challenges including longterm contracts and declining demand forcing the government to pay over 7 billion annually for unused electricityIn response the government plans to redirect this surplus power to Bitcoin mining and AI data centres aiming to monetise idle energy attract foreign investment and create techdriven employmentGlobal interest has followed with international Bitcoin miners and data infrastructure firms reportedly exploring partnerships with the PCCIn June 2025 Pakistan signed agreements with Trumpbacked crypto venture World Liberty Financial WLF and Binance to expand blockchain infrastructure and promote decentralized finance DeFiHowever the plan faces complications Bitcoin mining is energyintensive and Pakistans grid largely powered by fossil fuels raises environmental concernsThe International Monetary Fund IMF has already rejected aspects of the crypto power subsidy plan signalling potential financial and diplomatic frictionMoreover logistical challenges within Pakistans electricity infrastructure including frequent blackouts and inconsistent supply could hinder the success of the Bitcoin reservePakistans economic woes rising inflation mounting debt and declining industrial activity make the crypto pivot seem like a desperate attempt to leapfrog into prosperityBut the foundation is shaky The State Bank of Pakistan has historically discouraged crypto trading and the legal framework remains underdevelopedWithout clear legal protections investors face the threat of account freezes bans and limited recourse in the event of fraudThe volatility of cryptocurrencies further compounds the danger with sudden price swings capable of wiping out investments overnightSecurity concerns loom large especially given Binances global scrutiny over antimoney laundering violations and WLFs political entanglements which raise questions about governance and transparencyPakistans crypto landscape is also haunted by a history of fraud In January 2022 one of the countrys largest cryptocurrency scams left investors with losses totalling 100 millionFraudulent mobile applications lured individuals into investment schemes urging them to transfer funds from Binance wallets to deceptive platforms When the apps collapsed thousands were locked out of their investmentsThe problem has only worsened In 2024 alone over 11000 bank accounts were frozen due to cryptorelated fraud with 90 per cent of victims unaware they were part of illicit transaction chainsRecovery is slow and arduous with only 15 per cent of accounts restored and traders who declare crypto transactions often face permanent bansEnvironmental sustainability adds another layer of complexity Bitcoin mining is notoriously energyintensive and Pakistans reliance on fossilfueled power grids raises serious climate concernsThe IMF has reportedly rejected aspects of Pakistans crypto power subsidy plan signalling potential financial complications and international resistance the report stated IANS https://dailyworld.in/business/pakistans-big-bitcoin-push-faces-legal-energy-and-fraud-challenges-641662.html Sun, 05 Oct 2025 15:43:00 +0530 https://dailyworld.in/business/indusind-banks-q2-net-advances-drop-8-pc-amid-5-pc-decline-in-deposits-641665.html Mumbai Oct 5 Private sector lender IndusInd Bank has reported a sharp decline in its business performance for the second quarter of financial year 202526 Q2 FY26 with both advances and deposits falling yearonyear YoY and sequentially QoQ The banks net advances stood at Rs 327 lakh crore down 8 per cent compared with the same period previous fiscal and 2 per cent lower than the previous quarter 9Q1 FY26 according to its stock exchanges filingNet deposits also fell to Rs 389 lakh crore reflecting a 5 per cent decline YoY and a 2 per cent drop quarteronquarter the lender added in its filingIndusInd Banks Current Account and Savings Account CASA ratio weakened to 3080 per cent compared with 3150 per cent in the previous quarter and 3590 per cent a year agoMeanwhile the lender posted a net profit of Rs 684 crore for the quarter ended June 2025 Q1 FY26 a steep 68 per cent decline from Rs 2152 crore in the same quarter last year Q1 FY25Net interest income NII came in at Rs 4640 crore dropped 142 per cent compared with Rs 5408 crore a year agoThe banks net interest margin NIM improved sequentially to 346 per cent from 225 per cent in the previous quarter but remained below 425 per cent recorded a year earlierAsset quality showed mixed trends in the previous quarter of the current financial yearWhile slippages improved sequentially gross nonperforming assets GNPAs rose to 364 per cent from 31 per cent in the previous quarter and net NPAs increased to 112 per cent from 095 per centThe Provision Coverage Ratio PCR stood at 70 per cent as per its earlier filingShares of IndusInd Bank ended at Rs 74755 on the BSE on Friday up Rs 385 or 052 per cent IANS https://dailyworld.in/business/indusind-banks-q2-net-advances-drop-8-pc-amid-5-pc-decline-in-deposits-641665.html Sun, 05 Oct 2025 16:10:00 +0530 https://dailyworld.in/business/indusind-banks-q2-net-advances-drop-8-pc-deposits-decline-5-pc-641666.html Mumbai Oct 5 Private sector lender IndusInd Bank has reported a sharp decline in its business performance for the second quarter of financial year 202526 Q2 FY26 with both advances and deposits falling yearonyear YoY and sequentially QoQ The banks net advances stood at Rs 327 lakh crore down 8 per cent compared with the same period previous fiscal and 2 per cent lower than the previous quarter Q1 FY26 according to its stock exchanges filingNet deposits also fell to Rs 389 lakh crore reflecting a 5 per cent decline YoY and a 2 per cent drop quarteronquarter the lender added in its filingIndusInd Banks Current Account and Savings Account CASA ratio weakened to 3080 per cent compared with 3150 per cent in the previous quarter and 3590 per cent a year agoMeanwhile the lender posted a net profit of Rs 684 crore for the quarter ended June 2025 Q1 FY26 a steep 68 per cent decline from Rs 2152 crore in the same quarter last year Q1 FY25Net interest income NII came in at Rs 4640 crore dropped 142 per cent compared with Rs 5408 crore a year agoThe banks net interest margin NIM improved sequentially to 346 per cent from 225 per cent in the previous quarter but remained below 425 per cent recorded a year earlierAsset quality showed mixed trends in the previous quarter of the current financial yearWhile slippages improved sequentially gross nonperforming assets GNPAs rose to 364 per cent from 31 per cent in the previous quarter and net NPAs increased to 112 per cent from 095 per centThe Provision Coverage Ratio PCR stood at 70 per cent as per its earlier filingShares of IndusInd Bank ended at Rs 74755 on the BSE on Friday up Rs 385 or 052 per cent IANS https://dailyworld.in/business/indusind-banks-q2-net-advances-drop-8-pc-deposits-decline-5-pc-641666.html Sun, 05 Oct 2025 16:12:00 +0530 https://dailyworld.in/business/sri-lanka-tourism-to-hold-roadshows-in-india-to-boost-visitor-arrivals-641668.html New Delhi Oct 5 Sri Lankas Tourism Ministry is ramping up promotions for Indian travellers through roadshows and networking events in southern India next week with the goal of increasing arrivals and strengthening tourism relations between the two countries a report has said A series of roadshows B2B and networking evenings are scheduled to take place in Madurai on October 6 Coimbatore on October 8 and Chennai on October 10 a report from Mawrata News saidThe Sri Lanka Tourism Promotion Bureau SLTPB and the Sri Lanka Convention Bureau SLCB are jointly organising these events to promote Sri Lanka as a yearround destination for all segments of travellers the report addedAimed at attracting more visitors from southern India and strengthening the bilateral ties the roadshows will highlight the islands thriving tourism industry rich attractions resilience and steady growthThe delegation led by Vijitha Herath Minister for Foreign Affairs Foreign Employment and Tourism and Ruwan Ranasinghe Deputy Minister of Tourism includes officials from the SLTPB and SLCB accompanied by over 40 stakeholders from the Sri Lankan tourism sector and will attend the event in Tamil NaduThe group represents Destination Management Companies leisure and MICE leading hotels and resorts tour operators and other tourismrelated service providers from Sri LankaDuring the roadshows industry stakeholders will participate in B2B interactions with their Indian counterparts in each city Each event is expected to draw over 200 participants including Indian travel agents prominent industry figures and members of the media the report notedSri Lanka is at a critical juncture with its prospects for 2026 clouded by external shocks Economic growth is forecast to slow to 33 per cent as the United States imposes a 20 per cent tariff on key Sri Lankan exports according to a report IANS https://dailyworld.in/business/sri-lanka-tourism-to-hold-roadshows-in-india-to-boost-visitor-arrivals-641668.html Sun, 05 Oct 2025 16:14:00 +0530 https://dailyworld.in/business/from-sugar-to-it-exports-gst-rejig-to-boost-maharashtras-economy-641682.html New Delhi Oct 5 Maharashtras agriculture industry and services sectors are set to benefit from recent Goods and Services Tax GST reforms that have reduced rates to enhance consumption and competitiveness government informed on Sunday GST reforms that reduced costs for consumers and improved margins for producers are expected to benefit industries including sugar processed foods fisheries handlooms and IT servicesThe GST reduction on refined sugar from 12 per cent to 5 per cent will lower sugar prices by around 7 per cent at whole sale level benefiting Indias largest sugar producerMaharashtras sugar belt comprising of Kolhapur Sangli Satara Pune Solapur and AhmednagarReductions on processed fruit products including juices and jams will benefit horticultural hubs in Nagpur Nashik Jalgaon and the Konkan region The GST rate cut will lower the cost of processed food products by 67 per cent This is expected to encourage higher consumption promote value addition and increase the offtake of produce from farmers across the horticultural belts of the state an official statement saidThe reduction of GST to 5 per cent on fabrics footwear and handmade art will benefit traditional clusters such as Solapur Ichalkaranji Kolhapur and Paithan in the textile and handicraft sectorThe GST rate cut will reduce input costs for garment and home textile manufacturers by 67 per cent enhancing the competitiveness of Maharashtras power loom sector the government saidAuthentic Warli paintings solar panels solar water heaters and other renewable devices are also expected to become 67 per cent cheaper the release said The pharmaceutical industry will benefit from a reduced 5 per cent GST on medicines and exemptions on health and life insurance premiums will enhance affordability of insurance coverageA change in GST rules now permits thousands of ITITES companies in Maharashtra to classify their services as exports and claim GST refunds significantly boosting their cash flow and global competitiveness the report noted IANS https://dailyworld.in/business/from-sugar-to-it-exports-gst-rejig-to-boost-maharashtras-economy-641682.html Sun, 05 Oct 2025 18:07:00 +0530 https://dailyworld.in/business/ipos-worth-rs-28-000-crore-to-hit-indian-primary-market-next-week-641541.html New Delhi Oct 4 The investors will have a busy time next week as the initial public offerings IPOs of around five companies are set to hit the primary market to raise a combined amount of over Rs 28000 crore Additionally 29 companies mainboard and SMEs will have their debut on domestic exchangesTata Capital a nonbanking financial company of the Tata Group will float its IPO between October 6 to 8 aiming to raise Rs 15500 crore Tata Capitals initial share sale is going to be the biggest so far this year The IPO is a combination of 21 crore fresh shares and 2658 crore shares as offer for sale OFS The Tata Group firms have a fixed price band of Rs 310Rs 326LG Electronics India the Indian subsidiary of South Koreabased LG has announced a floating Rs 11607 crore IPO on October 79 The IPO is entirely an offer for sale issue wherein the South Koreabased parent company will be offloading 1018 crore shares at a price band of Rs 1080Rs 1140The two companies will contribute the most in terms of raising capital with a combined issue size of Rs 27107 crore Further many SMEs IPOs will also open next weekThe year is turning out to be a blockbuster one for the IPO market with companies already raising close to Rs 85000 crore through 74 mainboard offerings as of September The momentum is picking up speed in October as upcoming listings will push the total raised amount past the Rs 1 lakh crore milestone for just the third time in historyEarlier in 2021 and 2024 the IPO market crossed this threshold In 2021 companies raised Rs 119 lakh crore through 63 IPOs while in 2024 the figure jumped to Rs 16 lakh crore from 91 initial offersAs per reports the numbers are expected to surpass all the records this year IANS https://dailyworld.in/business/ipos-worth-rs-28-000-crore-to-hit-indian-primary-market-next-week-641541.html Sat, 04 Oct 2025 16:19:00 +0530 https://dailyworld.in/business/upi-payments-at-nh-toll-plazas-to-cost-less-than-cash-for-non-fastag-vehicles-from-nov-15-641553.html New Delhi Oct 4 Commuters not having a functional FASTag will now have to pay just 125 times the applicable fee at toll plazas on National Highways NHs if they pay through online mode using Unified Payment Interface UPI from November 15 the Ministry of Road Transport and Highways said in a statement on Saturday To incentivise digital payments and eliminate cash transactions at the user fee plazas on NHs for NonFASTag users the government of India has amended the National Highways Fee Determination of Rates and Collection Rules 2008Under the new rule vehicles entering a fee plaza without a valid functional FASTag will be charged twice the applicable user fee if the fee payment is made in cashSuch users who opt to pay the fee via the Unified Payment Interface UPI will be charged only 125 times the applicable user fee for that category of the vehicle the statement readFor example if a vehicle needs to pay a user fee of Rs 100 through a valid FASTag the fee will be Rs 200 if paid in cash and Rs 125 if paid via UPIThis amendment aims to strengthen the fee collection process enhance transparency in toll collection and promote ease of commuting for the National Highway usersThis notification will come into effect from November 15 2025 the Ministry saidThe latest amendment in the rules reflects the Government of Indias commitment to leveraging technology for efficient toll collection and reducing congestion at the toll plazas the statement noted The revised rules will encourage the adoption of digital payments enhance transparency in toll operations and improve the overall user experience on National HighwaysOn Independence Day this year the government introduced a FASTagbased annual toll pass for private vehicles priced at Rs 3000This service is available at toll plazas managed by the Ministry of Road Transport and Highways and the National Highways Authority of India for cars jeeps and vansThe pass is good for 200 toll trips or one year after it is activated whichever comes first The FASTag automatically transitions to standard paypertrip mode when the limit is reached Each oneway crossing at a pointbased toll plaza counts as one trip and a return counts as two A full journey from entry to exit is considered a single trip in closed or ticketed systemsThe pass will only be granted to cars jeeps and vans registered for personal use and it is only valid for noncommercial private vehicles IANS https://dailyworld.in/business/upi-payments-at-nh-toll-plazas-to-cost-less-than-cash-for-non-fastag-vehicles-from-nov-15-641553.html Sat, 04 Oct 2025 17:54:00 +0530 https://dailyworld.in/business/gst-20-comes-as-booster-shot-for-bengals-economy-641558.html New Delhi Oct 4 With GST rate cuts on goods ranging from Shantiniketan leather to Malda mango products the government aims to enhance affordability for consumers and improve margins for artisans and farmers in West Bengal This will bring higher sales job preservation and a boost to the rural economy according to an official factsheet released on Saturday West Bengal has long been known for traditional crafts handlooms and agrobased industries From the terracotta temples of Bishnupur to the intricate embroidery of Nakshi Kantha from the vibrant masks of Purulia to the globally admired Darjeeling tea Bengals artisanal and industrial heritage sustains millions of livelihoods The GST reforms reinforce Bengals identity as a hub of artistry and enterprise while ensuring that local communities can thrive in both domestic and international marketsThe GST rate cuts will directly empower artisans farmers and small entrepreneurs of Bengal making their products more competitive in both domestic and global markets This will not only promote Bengals artisanal heritage but also strengthen local economies across districtsNakshi Kantha is one of Bengals most iconic embroidery traditions practised widely in rural districts such as Birbhum Murshidabad and Nadia It provides a crucial source of income for rural women often working in selfhelp groups or family units 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 JapanWest 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 familiesThe 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 exportsHosiery and readymade garments form one of West Bengals largest industries employing an estimated 500000 workers Kolkata is the historical birthplace of Indias hosiery industry with major clusters in Metiabruz Baruipur and Siliguri The increase in the threshold for the 5 per cent GST slab to Rs 2500 is the most impactful changeDarjeeling tea from the misty hills of Darjeeling and Kalimpong districts is a worldfamous luxury black tea often dubbed the Champagne of TeasWhile GST on basic tea remains at 5 per cent tea extracts essences and concentrates have also been reduced from 18 per cent to 5 per cent making these products cheaper for consumers and more competitive in the domestic and global premium beverage industryMalda district often called Bengals Mango Capital produces over 200 varieties of mango Its famed variants Fazli Laxman Bhog and Khirsapati Himsagar are GItagged emblematic of the regions identityMango cultivation is central to Maldas economy as about 45 lakh people including 80000 growers are directly and indirectly associated with this industry The GST reduction from 12 per cent to 5 per cent on processed mango products juices and jams will reduce their retail price and increase demand by consumersThe GItagged varieties are exported to the Middle East the UK Europe and recently to new markets like Sweden and New ZealandThe Shantiniketan leather goods cluster centred in Birbhum districts SantiniketanBolpur region and adjacent villages like Surul and Ballavpur has long been famed for its handembossed batik and applique designs on tanned leatherRooted in VisvaBharati Universitys rural development programmes the craft serves as a vital source of livelihood in areas with limited alternative employmentThe industry is characterised by a distributed model of small MSMEs which provides direct employment to hundreds of artisans The broader leather cluster in and around Kolkata employs approximately 5 lakh peopleMadurkathi Mats Purulia Chhau Masks Wooden Masks of Kushmandi and Sholapith Craft are the other handicraft items that will benefit from the GST rate cuts IANS https://dailyworld.in/business/gst-20-comes-as-booster-shot-for-bengals-economy-641558.html Sat, 04 Oct 2025 17:57:00 +0530 https://dailyworld.in/business/health-industry-bodies-welcome-cghs-move-to-revise-rates-after-15-years-641559.html New Delhi Oct 4 Health industry bodies have welcomed the central governments decision to revise the package rates for nearly 2000 medical procedures under the Central Govt Health Scheme CGHS The revised rates announced on Oct 3 will come into effect from Oct 13This reform along with the earlier GST relief reflects the governments commitment to strengthening healthcare delivery and addressing longstanding concerns of the sector said Ameera Shah President NATHEALTH in a statementCGHS is a vital programme for millions of beneficiaries and the revised rates will improve access to safe and effective healthcare while enhancing system efficiencyEarlier the Association of Healthcare Providers of India AHPI called the revision a longawaited stepThe last package was fixed in 2014 with only a minor update in 2024 This left hospitals and patients struggling for more than a decade with a gap between actual treatment costs and prescribed package ratesThe new policy would directly benefit both healthcare providers and CGHS beneficiaries the AHPI saidThe revised framework applies to the CGHS cardholders in all categories with semiprivate rooms defined as two to four patients forming the base for package rates and general wards accommodating up to 10 patientsThe rates will also vary based on city tiers with tierI cities applying the base rate tierII cities including Chandigarh Jalandhar and Ludhiana set at a 19 per cent lower rate and Tier 3 cities set at a 20 per cent lower rateFurther accreditation status will also determine rates with nonNABH hospitals receiving a 15 per cent lower rate than NABH hospitals while the superspeciality hospitals with over 200 beds will be entitled to 15 per cent higher rates than the NABH hospitalsBuilding on the momentum NATHEALTH suggested that CGHS and other governmentsponsored schemes be periodically benchmarked to the Consumer Price Index CPIThis will ensure predictability sustainability and a winwin value proposition for patients providers and policymakers Shah said IANS https://dailyworld.in/business/health-industry-bodies-welcome-cghs-move-to-revise-rates-after-15-years-641559.html Sat, 04 Oct 2025 17:57:00 +0530 https://dailyworld.in/business/private-sector-lenders-post-rise-in-deposits-ahead-of-q2-results-641572.html New Delhi Oct 4 Ahead of the second quarter earnings reports Q2 FY26 private lender HDFC Bank IDBI Bank and Kotak Mahindra Bank have reported an increase in their net advances based on their provisional estimate Disclosing its provisional numbers Kotak Mahindra Bank said that its net advances rose 158 per cent yearonyear YoY to Rs 462 lakh crore in the JulySeptember quarter Sequentially it escalated by 4 per cent to Rs 444 lakh croreKotak Banks total deposits stood at Rs 528 lakh crore during the period up by 146 per cent from Rs 461 lakh crore in the yearago period In the previous quarter the bank had reported its total deposits as Rs 512 marking a sequential rise of 31 per cent for the current quarterIn an exchange filing HDFC Bank the countrys biggest private sector bank informed that its total advances grew 99 per cent YoY to Rs 2769 lakh crore in the quarterMeanwhile according to the private bank its periodend deposits rose 121 per cent to Rs 2801 lakh crore YOY Additionally its current account and savings account deposits advanced 74 per cent to Rs 949 lakh croreThe private sector lender had reported Rs 2519 lakh crore as the total advances in the same quarter a year agoFor the quarter that ended on June 30 the private lender reported gross advances of 2653 lakh crore while periodend deposits totalled Rs 2764 lakh croreIDBI Bank another private sector lender said its total business rose 12 per cent YoY in the September quarter of FY26 to Rs 533 lakh crore compared with Rs 478 lakh crore in the same period last yearThe lenders total deposits grew 9 per cent YoY to Rs 303 lakh crore while net advances expanded 15 per cent YoY to Rs 230 lakh croreThe banks CASA deposits stood at Rs 139 lakh crore up 4 per cent from Rs 133 lakh crore a year ago IANS https://dailyworld.in/business/private-sector-lenders-post-rise-in-deposits-ahead-of-q2-results-641572.html Sat, 04 Oct 2025 20:05:00 +0530 https://dailyworld.in/business/rajasthan-promotes-innovation-and-entrepreneurship-dy-cm-641576.html Jaipur Oct 4 Rajasthan Deputy Chief Minister Prem Chand Bairwa said on Saturday that Rajasthan has always promoted innovation and entrepreneurship Rajasthan has always been a land that promotes innovation and entrepreneurship Our governments policies and the resourcerich startup ecosystem are playing a leading role in empowering entrepreneurs said the Deputy Chief Minister while laying down the foundation stone of the countrys largest continuous wastetoenergy tyre recycling plantUnder the Rising Rajasthan initiative and with recognition from the Ministry of Electronics and Information Technology MeitYs innovation programmes startup Regrip is a strong example of how statedriven industrial policy can create a positive impact at the national level he said The project was also inaugurated by investor Bollywood actor and sustainability advocate Suniel Shetty CEO Tushar Suhalka and Director Mahavir Sharma Bairwa further added that the establishment of the countrys largest tyre recycling plant by Regrip is not only a revolutionary step towards environmental sustainability but also places Rajasthan at the centre of Indias tyretoenergy revolution This initiative is an important and impactful step towards Prime Minister Narendra Modis vision of a Swachh Bharat and a Viksit BharatActor Suniel Shetty said Tyre waste is one of Indias biggest blind spots in sustainability Our plant is showing the way with scale technology and impact Our plant is not just a project it is a statement of how India can turn waste into opportunity CEO Tushar Suhalka stated We are proud that Rajasthan is leading the way by hosting the countrys largest licensed continuous pyrolysis plant setting a model that can be replicated across India Before the inauguration ceremony Suniel Shetty CEO Tushar Suhalka and Director Mahavir Sharma addressed a press conference and highlighted their plants vision and the significance of this project They claimed that by combining collection infrastructure digital technology and recycling plants their plant is also building a panIndia cleantech network that solves the tyre waste crisis at scale creates green energy and materials supports EPR compliance for tyre manufacturers positions India as a global leader in circular economy solutions said company officials adding that the company has set a vision 2035 to make India tyreneutral and a world leader in sustainable tyre recycling This facility will not be just Rajasthans pride it is a national milestone placing the state at the forefront of Indias circular economy journey in tyre waste they added IANS https://dailyworld.in/business/rajasthan-promotes-innovation-and-entrepreneurship-dy-cm-641576.html Sat, 04 Oct 2025 20:10:00 +0530 https://dailyworld.in/business/indias-coffee-exports-rise-15-pc-in-april-september-641469.html New Delhi Oct 4 The coffee exports from India in the value terms soared by 15 per cent in the AprilSeptember period this fiscal FY26 at 105 billion according to Coffee Board data The country had clocked 918 million in coffee exports in the same period last fiscal FY25In rupee terms coffee exports during H1 FY26 were up 19 per cent at Rs 911924 crore over Rs 767874 crore a year ago Moreover the per unit realised by exporters was up 34 per cent at Rs 471 lakh per tonne compared to Rs 352 lakh per tonne a year agoThe Indian coffee shipments were up 24 per cent at 195 billion in the same sixmonth period this fiscal from 157 billion in the previous yearFor the JanuarySeptember period this year the volume was 296 lakh tonnes 334 lakh tonnes India is the seventh largest producer of coffee and the fifth largest exporterMeanwhile Commerce Secretary Rajesh Agrawal this week inaugurated the Coffee Experience Zone and Expo organised by the Coffee Board on the occasion of International Coffee DayThe Commerce Secretary highlighted that Indian coffee is sustainable and is grown in conjunction with forests He noted that coffee exports from India have doubled in recent yearsAgrawal also emphasised the need for greater diversification in the area of coffee cultivation He underlined the need to continue innovating and adding value pointing out that India being a land of spices has immense opportunities to innovate with coffeeHe stressed that apart from exporting coffee it is also important to work on Brand India and position the country strongly in the global marketThe event coincides with the implementation of the IndiaEFTA Trade and Economic Partnership Agreement TEPA EFTA member countries Switzerland 145 million Norway 27 million and Iceland 3 million together import coffee valued at 175 million which is about 3 per cent of the global coffee importsHowever Liechtenstein trade data is not available with the Coffee Board IANS https://dailyworld.in/business/indias-coffee-exports-rise-15-pc-in-april-september-641469.html Sat, 04 Oct 2025 12:02:00 +0530 https://dailyworld.in/business/gold-silver-remains-bullish-this-week-hitting-all-time-highs-641496.html New Delhi Oct 4 Indian bullion prices remained bullish this week hitting alltime highs amid uncertainty looming due to shutdown in the United States tariff concerns and tight global geopolitical conditions The price of 24carat gold 10 grams started the week at Rs 115454 on Monday rose to hit an alltime high of Rs 117332 on Thursday according to data published by the India Bullion and Jewellers Association IBJAHowever the gold price fell a bit from its alltime high on Friday to end the week at Rs 116954 per 10 grams but remained Rs 1500 higher than the Monday priceMeanwhile the Silver price reflects the yellow metals journey ending the week at Rs 145610 per kg up Rs 1223 from Rs 144387 on MondayGiven the strong trending price action in recent sessions sharp twoway moves cannot be ruled out Key support is placed at Rs 116500 and 3840 while resistance is seen at Rs 118500 and 3900 said Jateen Trivedi of LKP SecuritiesOverall gold remains in a bullish structure but volatility is likely to stay elevated around the data release Trivedi said furtherIn the domestic futures market as well the precious metals prices have seen an uptickOn the MultiCommodity Exchange MCX the gold contract expiring on December 5 ended the week at Rs 118100 per 10 grams while the silver future contract expiring on the same date closed at Rs 145599 per kgMeanwhile according to analysts the gold prices continue to receive support from robust central bank purchases and sustained inflows into ETFs due to uncertainty in the global trade orderThe gold and silver have outperformed Indian equities for the fourth consecutive DiwalitoDiwali cycle continuing a trend where the yellow metal has outperformed equities in seven of the last eight years IANS https://dailyworld.in/business/gold-silver-remains-bullish-this-week-hitting-all-time-highs-641496.html Sat, 04 Oct 2025 13:58:00 +0530 https://dailyworld.in/business/india-worlds-second-largest-fish-producer-contributing-8-pc-to-global-output-641501.html New Delhi Oct 4 India is the worlds secondlargest fish producer contributing 8 per cent to global output and also ranks second in aquaculture production globally the government said on Saturday Since the introduction of targeted interventions in 2015 the government has approved or announced cumulative investments of Rs 38572 crore across various schemesConsequently total fish production has soared to 195 lakh tonnes The sector has been experiencing an annual growth rate of 874 per centSeafood exports have also risen to Rs 60524 crore in 202324 With the notification of 34 fisheries production and processing clusters across the country the Department is now steering formation of speciesspecific clusters with focus on strengthening the speciesspecific value chain for leveraging the latest technologiesTo help continue this growth more than 15000 fishers and fish farmers from 34 states and union territories participated in a nationwide series of virtual interactions organised by the Department of Fisheries DoF from April to SeptemberLed by Dr Abhilaksh Likhi Secretary DoF this initiative offered a direct channel for stakeholders to express their concerns and aspirationsThe interactions spanned coastal inland hilly island and NorthEastern regions ensuring broad representation from nearly every district nationwide This exercise not only helped identify current challenges but also collectDuring the interactions fishers and fish farmers emphasised the importance of quality fish seed brood banks affordable feed and local feed mills Stakeholders also highlighted the need for further strengthening of facilities such as transport cage culture mini hatcheries ice boxes poly sheets cold storage and support for aquaculture including the integration of solar energyAdditionally stakeholders highlighted adoption of innovative technologybased solutions such as drones for live fish transport to expand market reach satellite applications for the safety and security of fishermen and potential fishing zone advisoriesThe fishermen appreciated the initiative of the Government for installing transponders free of cost in their fishing vesselsThese transponders have proven instrumental in providing them with timely Potential Fishing Zone PFZ advisories weather alerts and updates on cyclone navigating them to safer routes according to the ministry IANS https://dailyworld.in/business/india-worlds-second-largest-fish-producer-contributing-8-pc-to-global-output-641501.html Sat, 04 Oct 2025 14:18:00 +0530 https://dailyworld.in/business/fpi-selling-to-slow-down-amid-improved-earnings-attractive-valuation-641502.html New Delhi Oct 4 With the valuation differential coming down and Indian earnings likely to improve in FY27 foreign portfolio investors FPIs are likely to slow down selling going forward analysts said on Saturday Sustained FPI selling continued in September with the sell figure through exchanges touching Rs 27163 croreHowever in keeping with the longterm trend of buying through the primary market they bought equity for Rs 3278 crore in SeptemberThe selling in September takes the total sell figure for 2025 to Rs 198103 crore This massive selling on top of the Rs 121210 crore selling in 2024 takes the total FII selling to Rs 319313 crores for the last 21 months said Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LtdHigher valuation in India and cheaper valuations elsewhere have been the principal drivers behind the FII strategyAccording to analysts the market enters the new week with cautious optimismThe RBIs supportive policy stance and strong GST collections offer domestic comfort though volatility could persist due to FII outflows and global headwinds Investors should closely track Q2 earnings particularly from IT and banking heavyweights for cues on sectoral leadershipA buyondips strategy remains advisable with a preference for domestic cyclicals such as metals autos financials and themes like defence while selectively adding from other sectors Broader markets should be approached carefully with a focus on fundamentally sound companies Traders should also keep a close watch on global developments especially US macro data and FOMC minutes which could influence nearterm sentiment said Ajit Mishra SVP Research Religare Broking LtdThe coming week will be pivotal as the Q2 FY26 earnings season gets underway with IT bellwether TCS scheduled to announce results on October 9 On the macroeconomic front the release of HSBC Services and Composite PMI along with banking sector data on loan and deposit growth will be closely monitored IANS https://dailyworld.in/business/fpi-selling-to-slow-down-amid-improved-earnings-attractive-valuation-641502.html Sat, 04 Oct 2025 14:19:00 +0530 https://dailyworld.in/business/centre-releases-discussion-paper-20-on-treatment-of-free-pds-items-in-cpi-compilation-641530.html New Delhi Oct 4 The government on Saturday said it is conducting the base revision of the Consumer Price Index CPI as it released discussion paper 20 on the treatment of free PDS items in the CPI compilation The process includes enhancing coverage of price collection refining existing methodologies exploring new data sources and effective use of modern technology in the price collection and index compilationIn view of the launch of free food grain distribution scheme by the government from January 1 2023 covering 75 per cent rural and 50 per cent urban population the issue of appropriate and realistic reflection of the same in CPI and inflation measurement has become relevant and desirable according to the Ministry of Statistics and Programme implementation MoSPIThe issue has been deliberated in detail with the National and International experts Reserve Bank of India International Monetary Fund and other UN institutions and Government organisations the ministry informedThe proposed methodology in the discussion paper 20 is designed by MoSPI after incorporating suggestions and feedback received during above mentioned interactionsThe ministry is inviting views and comments from experts academicians government bodies state governments financial institutions and other stakeholders on the Discussion paper 20 on treatment of free PDS items in the CPI compilation framework Comments and suggestions may be sent by October 22Indias CPI inflation edges up to 207 pc in Aug food inflation stays in negative zoneMeanwhile Indias inflation rate based on the Consumer Price Index CPI edged up to 207 per cent in August although prices food continued to decline during the month easing the burden on the common manThe headline inflation in August was marginally higher than the 161 per cent in July this year which was the lowest level of yearonyear retail inflation since June 2017 The inflation rate is well within the RBIs target rate of 4 per cent which allows the central bank to continue with the soft money policy to spur growth IANS https://dailyworld.in/business/centre-releases-discussion-paper-20-on-treatment-of-free-pds-items-in-cpi-compilation-641530.html Sat, 04 Oct 2025 15:20:00 +0530 https://dailyworld.in/business/unclaimed-financial-assets-fm-sitharaman-urges-citizens-to-spread-the-word-641534.html Gandhinagar Oct 4 Union Finance Minister Nirmala Sitharaman on Saturday urged citizens to spread the word about unclaimed assets in the financial sector guiding people to claim what is rightfully theirs Launching the nationwide awareness campaign on unclaimed assets in the financial sector from here she said that if the three As Awareness Access and Action are fulfilled the money lying in safe custody can be rightfully claimed by the people with proper documentsI urge you all to become ambassadors of this campaign reach out to people you know ask if they hold any papers of unclaimed financial assets and guide them to register on the portal to claim what is rightfully theirs FM Sitharaman told the gatheringThis initiative has the potential to benefit countless citizens I humbly request you to spread the word about this campaign in your communities and nearby areas she addedThe Finance Minister said she is very grateful to Prime Minister Narendra Modi who once advised me to go among the people and call upon them to claim what is rightfully theirsActing on his advice I am glad to share that Gujarat has taken the lead in launching this campaign she noted in a post on XWith concerted efforts from all the Finance Ministry regulators state governments and banks in villages if the entire chain is activated everyone will be able to reclaim their money she said adding that this is not only our assurance but also our dutyUnclaimed financial assets including insurance policy claims bank deposits dividends shares and mutual fund proceeds often remain unclaimed due to lack of awareness or outdated account detailsThe government is committed to ensure that every rupee saved by citizens can be rightfully claimed by them or by their legal heirs and nomineesThe campaign will encourage people to participate actively spread awareness and strengthen financial inclusion in every household IANS https://dailyworld.in/business/unclaimed-financial-assets-fm-sitharaman-urges-citizens-to-spread-the-word-641534.html Sat, 04 Oct 2025 15:45:00 +0530 https://dailyworld.in/business/bse-resolved-190-investors-complaints-during-september-641285.html New Delhi Oct 3 The Indian stock exchange platform Bombay Stock Exchange BSE announced on Friday that it had resolved 190 complaints from investors against 126 companies in the month of September 2025 Meanwhile the Bombay Stock Exchange received 173 complaints against 102 companies in September this year the bourse addedThe complaints resolved by the Bombay Stock Exchange include those brought forward from previous periodsFurther the stock exchange informed that the top three companies where complaints have been pending for redressal for more than one month as of September 2025 include Suraj Products Ltd Bajaj Auto Limited and Reliance Home Finance LimitedMeanwhile the Securities and Exchange Board of India has taken up 76 investmentrelated fraud cases during the fiveyear period from April 2020 to March 2025 in which the culprits were ordered to disgorge Rs 949 crore as illicit gainsSeveral Central government enforcement and regulatory agencies have been taking action to prevent detect and act against investmentrelated fraudsThe Reserve Bank of India Digital Lending Directions 2025 have also been issued to address concerns related to unethical practices by digital lending applications and confidential advisories to banks for robust systems to detect cyber frauds and money mule activityBesides the Reserve Bank of India generates public awareness about safe digital practices through campaigns across TV print SMS and digital platforms such as the RBI Kehta Hai campaign and BEAWARE booklet to educate consumers on fraud types and redressal mechanismsThe Securities and Exchange Board of India also runs the SEBI vs SCAM campaign which generates an ongoing fraud awareness campaign via TV print radio and social media in partnership with Market Infrastructure Institutions MIIsThe Securities and Exchange Board of India also runs SCORES or the SEBI Complaint Redressal System an online platform that enables investors to file and track complaints against listed entities and the market regulatorregistered market intermediaries IANS https://dailyworld.in/business/bse-resolved-190-investors-complaints-during-september-641285.html Fri, 03 Oct 2025 16:40:00 +0530 https://dailyworld.in/business/trai-releases-recommendations-on-digital-radio-broadcast-policy-for-private-broadcasters-641339.html New Delhi Oct 3 The Telecom Regulatory Authority of India TRAI on Friday released recommendations for a digital radio broadcast policy for private broadcasters The guidelines include terms conditions and reserve prices for launching digital radio broadcasting services in four A category cities Delhi Mumbai Kolkata and Chennai and nine A cities Hyderabad Bengaluru Ahmedabad Surat Pune Jaipur Lucknow Kanpur and NagpurThe ministry announced that digital radio services will launch in simulcast mode mandating new broadcasters to adopt the format while allowing existing FM operators to migrate voluntarily Each assigned frequency will transmit one analogue channel three digital channels and one data channelRadio broadcasters should commence simulcast operations within two years of the conclusion of the auction process or acceptance of an option for migration the ministry saidThe sunset date for the analog broadcasting should be decided after evaluating the progress of digital radio broadcasting at a later date it addedThe Ministry of Information and Broadcasting had sought recommendations from TRAI under Section 11 of the TRAI Act 1997 Further a consultation paper was released in September 2024 and an open house discussion was conducted in January 2025 prior to finalising its recommendationsAuthorisations will be valid for 15 years with fees based on adjusted gross revenue and streaming revenue will be factored into gross revenue calculations it addedThe TRAI statement said that digital radio broadcasting provides many advantages including the capability of broadcasting three digital and one data channel along with one analog channel on a single spot frequency in simulcast modeIn such a condition the digital radio channel will provide a superior quality of audio whereas in the analogue mode broadcasting of only one channel is possible on the carrier frequency it addedIn a competitive environment digital radio broadcasting can provide new opportunities to radio broadcasters as well as multiple listening options and valueadded services to the listeners the release noted IANS https://dailyworld.in/business/trai-releases-recommendations-on-digital-radio-broadcast-policy-for-private-broadcasters-641339.html Fri, 03 Oct 2025 16:57:00 +0530 https://dailyworld.in/business/advik-capital-shares-crash-over-52-pc-from-52-week-high-641341.html Mumbai Oct 3 Shares of Advik Capital Limited a nonbanking financial company NBFC have witnessed a steep fall of more than 52 per cent from their 52week high of Rs 329 In the case of Advik Capital shareholders have been facing consistent value erosionAccording to BSE Analytics data the companys stock has dropped 4561 per cent over the past one yearOn a yeartodate YTD basis the stock is down 3018 per cent while in the last six months it has slipped 1143 per centOver a threeyear period the losses deepen further with the stock declining more than 44 per centThe stock which currently trading at Rs 156 has shown some shortterm momentum gaining 1071 per cent in the past one month and 616 per cent in the past weekHowever this minor recovery has not been enough to offset the heavy longterm losses for investorsAdding to the challenges the companys 40th Annual General Meeting AGM saw several key proposals being rejected by shareholdersThese included increasing authorised share capital raising funds through the issue of securities enhancing borrowing limits under Section 1801c of the Companies Act creating charges on assets approving loans and investments beyond prescribed limits under Section 186 and approving relatedparty transactions under Section 188With these proposals not receiving shareholder approval the company cannot move forward with its fundraising borrowing plans or other corporate decisions until it secures fresh approvalThis deadlock has further dampened investor sentiment around the stockIn the first quarter of the current financial year Q1 FY26 the net profit of the company dropped by nearly 80 per cent to Rs 048 crore compared to Rs 234 crore in the same quarter previous financial year Q1 FY25Advik Capital Limited is a NewDelhi based NBFC that provides loans invests in securities and engages in other financial activities including leasing IANS https://dailyworld.in/business/advik-capital-shares-crash-over-52-pc-from-52-week-high-641341.html Fri, 03 Oct 2025 16:58:00 +0530 https://dailyworld.in/business/mahindra-and-mahindra-launches-new-thar-2025-price-starts-at-rs-999-lakh-641343.html New Delhi Oct 3 Mahindra and Mahindra on Friday launched the new Thar 2025 starting at Rs 999 Lakh exshowroom with new design elements advanced comfort features and smart technology integration for better urban commute This Iconic SUV is engineered to redefine urban commuting and elevate rugged weekend adventures the automobile manufacturer said in a statementThe Thar brand has garnered a dedicated community of over 3 lakh passionate ownersMore than just an SUV it represents a lifestyle statement inspiring to embrace adventure and exploration with unmatched capability and a timeless design the company saidThe new model is equipped with a 2603 cm HD infotainment screen that supports both Android Auto and Apple CarPlay along with Typec USB ports providing seamless integration of your smartphones functionalitiesThe tyre direction monitoring system gives realtime information on tyre orientation enhancing safetyFor adventure enthusiasts the adventure stats gen II feature offers valuable offroad data such as racing tab altimeter outside temperature and pressure trip meter and steering direction adding an extra dimension to your journey and ensuring a smart and connected driving experience Mahindra and Mahindra saidAdditionally the company offers a range of engine options to suit diverse driving preferences paired with multiple transmissions 6speed manual transmission 6speed torque converter automatic transmission in RWD as well as 4X4 configurationsOver the years Thar has become more than just an SUV its a symbol of freedom adventure and a lifestyle that resonates deeply with our customers At Mahindra we are committed to listening to our customers and evolving with their needs which is why the New Thar reflects both their feedback and our dedication to provide the best to our customers said Nalinikanth Gollagunta Chief Executive Officer Automotive Division Mahindra amp Mahindra LtdBy blending new design elements smart technology enhanced comfort and convenience features the New Thar offers an unparalleled driving experience that empowers our customers to explore limitless possibilities in both urban and offroad settings he addedThe new model has features rear AC vents ensuring passengers in the second row enjoy a comfortable drive while the sliding armrest and dead pedal AT offer additional comfort for the driverDoormounted power windows and a rearview camera provide ease of driving and the internally operated fuel lid ensures hasslefree refuelling the company said IANS https://dailyworld.in/business/mahindra-and-mahindra-launches-new-thar-2025-price-starts-at-rs-999-lakh-641343.html Fri, 03 Oct 2025 17:01:00 +0530 https://dailyworld.in/business/gst-reforms-boosting-economy-easing-lives-of-common-people-nk-singh-641361.html New Delhi Oct 3 NK Singh Chairman of the 15th Finance Commission and a noted economist on Friday said the Goods and Services Tax GST reforms have provided significant relief to the common citizens while improving Indias business and investment atmosphere Speaking on the sidelines of the Kautilya Economic Conclave 2025 here Singh said The impact of the GST reform is now visible It has increased purchasing power and provided relief to the common man It has also significantly improved the business and investment environment and promoted ease of doing businessHighlighting Indias economic prospects Singh noted that the countrys vast untapped market offers immense opportunities for private investment and publicprivate partnershipsHe described the current moment as a turning point with multiple virtuous cycles aiding India in addressing future challengesThe economist reiterated that India remains the worlds fastestgrowing economy with a strong foundation moving steadily towards becoming the thirdlargest economy globallyAccording to official data Indias real GDP growth in the AprilJune quarter stood at 78 per cent and the Reserve Bank of India RBI has revised its growth forecast for FY 202526 to 68 per cent a development economists see as a significant milestoneEarlier at the same event Finance Minister Nirmala Sitharaman emphasised Indias resilience amid global uncertainties She said that despite volatile global conditions and changing rules of international trade the strength of the domestic economy has enabled India to grow rapidly and withstand external shocksShe highlighted that Indias robust domestic factors minimise the impact of global uncertaintiesWe are in a shifting global landscape that resembles a zerosum approach Indian economy is resilient and continues to grow sustainably FM Sitharaman said while delivering an inaugural address at the Kautilya Economic Conclave 2025 in the national capitalBy 2047 becoming Viksit Bharat by selfreliance does not mean we wish to be a closed economy We have to reach 8 per cent GDP growth to get to the goal for a developed nation the finance minister added IANS https://dailyworld.in/business/gst-reforms-boosting-economy-easing-lives-of-common-people-nk-singh-641361.html Fri, 03 Oct 2025 17:13:00 +0530 https://dailyworld.in/business/indias-it-services-to-see-recovery-in-fy27-long-term-growth-rate-within-4-to-5-pc-641362.html New Delhi Oct 3 The sustainable growth of Indias IT services sector is likely to be within 4 to 5 per cent above the trendline of the past three years a report said on Friday Analysts assumed less macro volatility in the coming quarters and expected some recovery in growth in FY27 the report from HSBC Global Investment Research saidThe IT services sector is unlikely to see a turnaround in Q2 FY26 with demand remaining soft amid macroeconomic uncertainty and the deflationary impact of artificial intelligence it saidThese factors may not improve until FY27 in our view as global headwinds provide a cushion to pricing pressure the report added providing a buy rating on many IT stocksGrowth in the second quarter is expected to stay in line with the first quarter driven largely by vendor consolidation and costrationalisation deals which HSBC called a zerosum gameSustainable growth rate for the sector is unlikely to be more than 45 per cent though over the past three years growth has been below even this trend rate While FY24 and FY25 were impacted by loss of share to GCCs FY26 has been impacted by both AI deflation and an uncertain macro environment the research firm saidEven though recent US corporate results are quite solid corporates are still holding back discretionary new initiatives the report notedQuarterly expectations indicate that largecap IT firms are expected to achieve 02 per cent sequential growth in dollar terms Midtier companies may experience a decline of 1 per cent to growth of 55 per cent the firm forecastedThe firm however maintained that largecap IT stocks are no longer fiveyear buyandhold compounding stocks and instead require active management around their cyclesvolatility IANS https://dailyworld.in/business/indias-it-services-to-see-recovery-in-fy27-long-term-growth-rate-within-4-to-5-pc-641362.html Fri, 03 Oct 2025 17:14:00 +0530 https://dailyworld.in/business/jinkushal-industries-makes-muted-debut-shares-slip-to-lower-circuit-after-listing-641363.html Mumbai Oct 3 Jinkushal Industries Limited had a lacklustre debut on the Indian stock market on Friday as its shares slipped into the 5 per cent lower circuit despite opening with a small premium The stock got listed at Rs 125 per share on both the BSE and NSE about 33 per cent higher than its issue price of Rs 121After listing the stock briefly gained 25 per cent and touched an intraday high of Rs 128 on the BSEHowever the gains did not last long Selling pressure at higher levels dragged the stock down more than 7 per cent from the days peak and by the afternoon it was locked at the 5 per cent lower circuit of Rs 11875At this level the shares were down nearly 5 per cent from their listing price and about 185 per cent below the issue priceThe muted debut came as a disappointment for investors who had expected stronger gainsThe grey market premium GMP had earlier indicated a possible listing pop of Rs 1721 per share which pointed towards doubledigit gainsJinkushal Industries had seen strong investor interest during its IPO which was open from September 25 to 29The issue was subscribed 6510 times led by robust demand from noninstitutional investorsThe Qualified Institutional Buyers QIBs portion was subscribed 3566 times while the noninstitutional investors segment attracted a massive 14639 times subscription Retail investors subscribed 4710 timesThe IPO was a bookbuilt issue worth Rs 11615 crore comprising a fresh issue of 86 lakh shares that raised Rs 10454 crore along with an offerforsale OFS of 10 lakh shares worth Rs 1161 croreFrom the proceeds the company plans to use Rs 7268 crore to meet its working capital needs with Rs 4768 crore to be deployed within this financial year and the remaining by FY27Jinkushal Industries operates across three business verticals export trading of customised and accessorised new construction machines export trading of used and refurbished construction machines and trading of its own brand of construction machines under the name HexL IANS https://dailyworld.in/business/jinkushal-industries-makes-muted-debut-shares-slip-to-lower-circuit-after-listing-641363.html Fri, 03 Oct 2025 17:15:00 +0530 https://dailyworld.in/business/stock-market-ends-higher-amid-buying-in-banking-metal-stocks-641370.html Mumbai Oct 3 The domestic equity indices ended the session higher on Friday amid buying in PSU banking consumer durables and private banks stocks Sensex ended the session at 8120717 up 22386 points or 028 per cent The 30share index started the session lower at 8068414 against last sessions closing of 8098331 However the index returned in green following buying in banking and metal stocks touching an intraday high at 8125199Nifty closed at 2489425 up 5795 points or 023 per centThe Nifty extended its pullback for the second straight session crossing above its key 50DMA at 24830 and forming a bullish candle on the daily chart After last weeks steep decline the index displayed signs of recovery by closing above the 24800 mark said analystsLooking ahead a gradual move towards 25200 seems probable and a decisive breakout beyond this level could open the path for an extended rally towards 25500 they addedTata Steel PowerGrid Kotak Bank Axis Bank LampT BEL Titan Asian Paint NTPC and SBI were top gainers from the Sensex basket Tech Mahindra Maruti Ultratech Cement Bajaj FinServ Sun Pharma ICICI Bank and Eternal settled lowerMost of the sectoral indices inched higher amid buying sentiment Nifty FMCG jumped 65 points or 012 per cent Nifty IT escalated 44 points or 013 per cent Nifty Bank increased 241 points or 044 per cent and Nifty Fin Services ended the session 44 points or 017 per cent higherBroader indices soared high amid buying in mid and smallcap stocks Nifty Midcap 100 soared 473 points or 083 per cent Nifty Small Cap 100 surged 122 points or 069 per cent and Nifty 100 closed 66 points or 026 per centThe Indian currency steadied within a tight range over the past few days having suffered a historic low earlier in the weekThe underlying mood for the rupee remains down due to sustained capital outflow from foreign investors Nevertheless a rebound in local share markets and moderation in crude oil prices to lend some stability said Dilip Parmar of HDFC SecuritiesFor the nearterm outlook the spot USDINR exhibits an ascending trend line support near 8840 while facing overhead resistance at 8910 he added IANS https://dailyworld.in/business/stock-market-ends-higher-amid-buying-in-banking-metal-stocks-641370.html Fri, 03 Oct 2025 17:48:00 +0530 https://dailyworld.in/business/india-strengthens-ties-with-malaysia-uganda-on-labour-mobility-641373.html Kuala Lumpur Oct 3 Union Minister of Labour amp Employment Dr Mansukh Mandaviya held productive bilateral meetings with the President of the International Social Security Association ISSA and delegations from Malaysia and Uganda on the sidelines of the World Social Security Summit WSSF here on Friday The minister discussed the issues of mutual recognition of skills safe labour mobility and social protection collaborationDr Mandaviya is in Malaysia to receive the ISSA Award 2025 for Outstanding Achievement in Social Security on behalf of the Government of IndiaDr Mandaviya interacted with Professor Mohammed Azman President of ISSA and CEO of PERKESO the social security organisation of MalaysiaHe expressed gratitude for ISSAs recognition of Indias achievements in social security expansion and welcomed Indias enhanced representation and voting rights within ISSAThe Minister also emphasised Indias digitalfirst approach to social protection delivery highlighting the eShram and National Career Service NCS platforms in particularThe President of ISSA congratulated India on its achievements in social protection and appreciated the remarkable expansion in social security coverage within a short span of time under the leadership of Prime Minister Narendra ModiMandaviya also met Betty Amongi Ongom Minister of Gender Labour and Social Development of Uganda Both sides underlined the centuryold historical ties and welcomed the revival of the IndiaUganda Joint Trade Cooperation Session earlier this year in New Delhi after 23 yearsThe leaders noted potential for partnerships in Public Works Agriculture Traditional Medicine and telemedicine which would strengthen economic engagement and enhance skilled professional exchangesMandaviya shared Indias achievements in extending social protection coverage which has been one of the fastest expansions globally and highlighted Indias digital public infrastructure India also expressed willingness to support Uganda in developing digital platforms to effectively match talent with opportunityUganda showed keen interest in learning more about Indias digital public infrastructure especially eShram and NCS and in adopting the same at the earliestThe Indian minister also held discussions with Steven Sim Chee Keong Minister of Human Resources Malaysia He reiterated New Delhis readiness to support Malaysias labour market needs through Indias professional and skilled workforce leveraging its demographic dividendThe Ministers underlined the importance of the IndiaMalaysia Enhanced Strategic Partnership with strong potential in futuristic sectors such as IT renewable energy and infrastructureIndia reaffirmed its readiness to move forward on the proposed Memorandum of Collaboration between ESIC and PERKESO which has already been initiated with the Ministry of External AffairsThe Union Minister also stated that the Global South should take the lead in framing model definitions for gig and platform workers for the global community at largeMalaysia extended an invitation to Dr Mandaviya for the summit on platform workers which the country is scheduled to host in 2026 IANS https://dailyworld.in/business/india-strengthens-ties-with-malaysia-uganda-on-labour-mobility-641373.html Fri, 03 Oct 2025 17:51:00 +0530 https://dailyworld.in/business/rbi-proposes-easier-rules-for-companies-to-raise-foreign-currency-loans-641382.html New Delhi Oct 3 The Reserve Bank of India RBI on Friday released draft rules to make it easier for Indian companies to raise money in foreign currencies The central bank has suggested widening the pool of both borrowers and lenders who can take part in external commercial borrowings ECBsAs announced in the statement on developmental and regulatory policies dated October 01 it has been decided to rationalise regulations pertaining to external commercial borrowing ECB included in the Foreign Exchange Management Borrowing and Lending Regulations 2018 issued under FEMA 1999 RBI said in its statementThe borrowing limits are proposed to be linked to a borrowers financial strength and ECB are proposed to be raised at market determined interest rates the Central Bank addedUnder the draft companies will be allowed to raise funds overseas based on their financial strengthThe borrower and lender base eligible for ECB transactions is proposed to be expanded to enhance opportunities of credit flow RBI statedFirms could borrow up to 1 billion or as much as 300 per cent of their net worth whichever is higherThe enduse restrictions and Minimum Average Maturity requirements are proposed to be simplified the Central Bank addedThe RBI has also said that these borrowings can be raised at marketdetermined interest rates giving companies more flexibility in accessing global fundsThe move is aimed at making overseas fundraising more attractive and aligned with international practices while also ensuring that companies with strong financials have better access to foreign capitalThe RBI has invited feedback on the draft rules from stakeholders and the public until October 24 The final regulations will be issued after reviewing the suggestionsComments feedback on the draft regulations may be submitted through the respective link under the Connect 2 Regulate Section available on the RBIs website or may be forwarded via email by October 24 with the subject line Feedback on draft ECB framework RBI added IANS https://dailyworld.in/business/rbi-proposes-easier-rules-for-companies-to-raise-foreign-currency-loans-641382.html Fri, 03 Oct 2025 17:58:00 +0530 https://dailyworld.in/business/navi-mumbai-international-airport-creation-of-every-hand-and-heart-that-built-it-gautam-adani-641389.html New Delhi Oct 3 IANS Gautam Adani Chairman of the Adani Group on Friday called Navi Mumbai International Airport the creation of every hand and heart that built itnbspThe Airport is scheduled to be inaugurated on October 8nbspTo every hand that worked and every heart that cared this is your creation said Gautam Adani in a post on social media platform XnbspThe billionaire industrialist said this while sharing his son Jeet Adanis post on XnbspIn the post Jeet Adani Adani Airports Director called it a deeply touching and humbling lesson to see his father expressing gratitude to all workersSome monuments are built with concrete and some with gratitude Watching my father walk through the Navi Mumbai International Airport thanking every hand and heart that built it was a deeply touching and humbling lesson in leadership Jai Hind said Jeet AdaninbspEarlier while visiting the airport Gautam Adani called it a monument shaped by thousands of hands and heartsnbspThe industrialist also saluted the efforts of differently abled colleagues construction workers and other staff members who worked for the development of the airport and expressed his gratitudeThe Navi Mumbai International Airport Private is designed to accommodate both domestic and international passengers featuring stateoftheart facilitiesnbspIt includes a 3700metre runway capable of handling large commercial aircraft modern passenger terminals and advanced air traffic control systemsnbspIt is expected to handle 2 crore passengers per annum MPPA and cater to the burgeoning air traffic demands of the Mumbai Metropolitan Region and Western India while strengthening Indias global connectivityThe airport will be 14 km from Jawaharlal Nehru Port Trust JNPT Sea Port 22 km from Maharashtra Industrial Development Corporation MIDC Taloja Industrial area 35 km from Mumbai Port Trust via Mumbai Trans Harbour Link 32 km from Thane and 40 km from the power loom town BhiwandinbspThe Airport also achieved a significant milestone of receiving the Aerodrome Licence essential for commencing operations from the Directorate General of Civil Aviation DGCA on Tuesday Airlines such as IndiGo Akasa Air and Air India Express have announced plans to commence operations from the airport with initial flights connecting various domestic cities https://dailyworld.in/business/navi-mumbai-international-airport-creation-of-every-hand-and-heart-that-built-it-gautam-adani-641389.html Fri, 03 Oct 2025 18:32:00 +0530 https://dailyworld.in/business/navi-mumbai-international-airport-creation-of-every-hand-and-heart-that-built-it-gautam-adani-641393.html New Delhi Oct 3 Gautam Adani Chairman of the Adani Group on Friday called Navi Mumbai International Airport the creation of every hand and heart that built it The Airport is scheduled to be inaugurated on October 8To every hand that worked and every heart that cared this is your creation said Gautam Adani in a post on social media platform XThe billionaire industrialist said this while sharing his son Jeet Adanis post on XIn the post Jeet Adani Adani Airports Director called it a deeply touching and humbling lesson to see his father expressing gratitude to all workersSome monuments are built with concrete and some with gratitude Watching my father walk through the Navi Mumbai International Airport thanking every hand and heart that built it was a deeply touching and humbling lesson in leadership Jai Hind said Jeet AdaniEarlier while visiting the airport Gautam Adani called it a monument shaped by thousands of hands and heartsThe industrialist also saluted the efforts of differently abled colleagues construction workers and other staff members who worked for the development of the airport and expressed his gratitudeThe Navi Mumbai International Airport Private is designed to accommodate both domestic and international passengers featuring stateoftheart facilitiesIt includes a 3700metre runway capable of handling large commercial aircraft modern passenger terminals and advanced air traffic control systemsIt is expected to handle 2 crore passengers per annum MPPA and cater to the burgeoning air traffic demands of the Mumbai Metropolitan Region and Western India while strengthening Indias global connectivityThe airport will be 14 km from Jawaharlal Nehru Port Trust JNPT Sea Port 22 km from Maharashtra Industrial Development Corporation MIDC Taloja Industrial area 35 km from Mumbai Port Trust via Mumbai Trans Harbour Link 32 km from Thane and 40 km from the power loom town BhiwandiThe Airport also achieved a significant milestone of receiving the Aerodrome Licence essential for commencing operations from the Directorate General of Civil Aviation DGCA on Tuesday Airlines such as IndiGo Akasa Air and Air India Express have announced plans to commence operations from the airport with initial flights connecting various domestic cities IANS https://dailyworld.in/business/navi-mumbai-international-airport-creation-of-every-hand-and-heart-that-built-it-gautam-adani-641393.html Fri, 03 Oct 2025 18:39:00 +0530 https://dailyworld.in/business/india-stands-out-as-rare-anchor-in-volatile-world-rbi-chief-641395.html New Delhi Oct 3 IANS Despite global turbulence caused by trade friction and geopolitical shocks India has been able to stand out as a rare anchor of stability in a volatile world RBI Governor Sanjay Malhotra said on FridaynbspIn his address at the fourth Kautilya Economic Conclave here Malhotra said policy continuity institutional resilience and reform momentum have enabled India to avoid major financial crises and remain among the fastestgrowing large economies with inflation projected to return to the RBIs safe zone of 4 per cent by February 2026The RBI Governor highlighted the contrast between India and the advanced economies in managing the fallout of the US tariff turmoil and other global economic uncertaintiesnbspIndias macroeconomic fundamentals have continued to remain very strong with low inflation healthy foreign exchange reserves a narrow current account deficit and the very strong balance sheets of banks and corporates he saidnbspIt is the combined efforts of the governments policy makers regulators and regulated entities All in all despite recent odds the economy seems well settled into an equilibrium of resilient growth he addedAgainst this backdrop Malhotra noted that over the past two decades central banks worldwide have been forced to pivot from being steady guardians of price stability to first responders in an era of relentless shocks from the 2008 financial crisis and the eurozone debt meltdown to Covid19 Russias war in Ukraine and climaterelated disruptionsnbspYou cannot control the storm but you can certainly steer the ship he remarkednbspFor India that steering involved a calibrated mix of aggressive monetary easing during the pandemic decisive liquidity support with clearly defined exit timelines and a rapid tightening cycle once inflation breached tolerance levels in 2022 Malhotra saidLooking ahead the global economy would likely underperform its true potential for years High tariffs stretched public debt and complacent equity markets presented risks that werent fully priced in raising the spectre of fiscal dominance constraining monetary policy in several economies he pointed outnbspPerhaps gold prices now are showing the kind of movement that oil used to that is acting as a barometer of global uncertainty Malhotra remarked https://dailyworld.in/business/india-stands-out-as-rare-anchor-in-volatile-world-rbi-chief-641395.html Fri, 03 Oct 2025 18:41:00 +0530 https://dailyworld.in/business/navratri-sales-of-consumer-goods-surge-to-10-year-high-as-gst-cuts-boost-demand-641396.html New Delhi Oct 3 Indias economy witnessed its highest Navratri sales of consumer goods in over a decade propelled by the governments nextgen GST reforms that reduced tax rates and made products more affordable for the consumers These measures not only lowered prices but also unlocked consumer aspirations enabling families to upgrade vehicles invest in home appliances and spend more freely on lifestyle goods turning festive cheer into recordbreaking consumption as per the dataLeading car maker Maruti Suzuki clocked a 100 per cent growth in Navratri which doubled from last year bestever in at least a decade Maruti Suzuki reported 150000 bookings and expects to reach 200000 bookings The company retailed 85000 vehicles last NavratriThe automobile market leader also delivered a massive batch of 165 lakh vehicles in the first 8 days of Navratri On Day 1 of Navratri Maruti delivered record 30000 cars its best singleday performance in 35 yearsHomegrown auto major Mahindra amp Mahindra which sells popular SUVs such as the XUV700 Thar and Scorpio N saw sales jump 60 per cent yearonyearAt Hyundai the surge in demand for models like Creta and Venue pushed SUVs share of total sales to over 72 per cent as per the dataTata Motors retailed more than 50000 vehicles during the festive period with demand from Altroz Punch Nexon and Tiago modelsShowroom footfalls of twowheeler maker Hero MotoCorp have doubled this Navratri with high traction in the commuter segment while arch rival Bajaj Auto also reported strong sales during NavratriIn consumer electronics space LG Haier and Godrej Appliances reported high doubledigit sales growth this Navratri compared to last yearHaiers sales soared 85 per cent nearly selling out its Diwali stock of 85inch and 100inch TVs priced above Rs 25 lakh The company also sold 300350 units of 65inch TVs daily during the period LG Electronics India noted exponential growth in sales this Navratri seasonBy rationalising GST slabs and easing the tax burden on both essential and aspirational items the government fostered an environment of confident spending As a result brands and retailers reported sales growth ranging from 25 per cent to 100 per cent marking a major boost for Indias consumptiondriven economyImportantly the first half of the festive season spanning Onam Durga Puja and Dussehra accounts for 4045 per cent of total festive sales making it the largest consumption season in the country IANS https://dailyworld.in/business/navratri-sales-of-consumer-goods-surge-to-10-year-high-as-gst-cuts-boost-demand-641396.html Fri, 03 Oct 2025 18:41:00 +0530 https://dailyworld.in/business/sustaining-dairy-sector-a-pillar-of-rural-livelihoods-641402.html New Delhi Oct 3 Union Home Minister and Minister of Cooperation Amit Shah on Friday reiterated the need to strengthen Indias dairy sector for reasons rooted in both economic and social impact The sector is a crucial pillar of rural livelihoods especially for small and marginal farmers and provides daily income unlike seasonal crops making it a reliable source of sustenance He also pointed out that Indias dairy sector has grown by 70 per cent over the decade making it the fastestgrowing dairy industry in the world Milk production rose from 146 million tonnes to 239 million tonnes and milch animals increased from 86 million to 112 million In order to provide further impetus White Revolution 20 was launched by the Ministry of Cooperation as part of the aim to realise the vision of Sahkar se Samriddhi or strengthening the cooperative movement in the country It comprises various initiatives taken by the ministry which itself was formed recently by Prime Minister Narendra Modi since its inception in 2021 to extend the reach to the grassroots and enhance the performance productivity and profitability of cooperative societies As the Minister pointed out Indias dairy sector is the backbone of rural livelihoods and a symbol of inclusive growth As the largest milk producer in the world India has combined farmerled cooperatives womens participation and scientific practices to achieve remarkable progressIncidentally the first White Revolution was initiated in the 1970s under Dr Verghese Kurien who came to be known as the Father of the White Revolution It ushered the country into increased milk production and made India selfsufficient in dairy To build on the gains of White Revolution 10 and drive the next wave of growth in Indias dairy sector White Revolution 20 focuses on modernising cooperatives expanding their reach and diversifying services The launch of Standard Operating Procedure SOP for White Revolution 20 on September 19 2024 and the formal launch three months later marked a fresh push to strengthen dairy cooperatives generate jobs and empower women The White Revolution 20 initiative will be implemented for five years 202425 to 2028 29 By then milk procurement by dairy cooperatives is expected to reach 1007 lakh kg per day Given that the dairy sector is a backbone of rural livelihoods nutrition security and cooperative ethos protecting and nurturing it aligns with broader economic social and strategic goals Seasonal and regional fluctuations are mitigated by a panIndia milk grid and with government procurement support to maintain farmgate prices While safeguarding existing gains there is continued support to the sector through subsidies credit facilities RampD in fodder and animal health among others to ensure Indias dairy sector remains resilient inclusive and capable of meeting future domestic and international demand Meanwhile countries like the United States being dairy surplus and a sector dependent primarily on export are pressing for zeroduty access to Indias USD 150billion worth dairy market In the ongoing bilateral trade negotiations the US team has tied dairy access to wider demands calling on India to align with global norms ease restrictions on oil imports and lower barriers in services and manufacturing Commerce Secretary Howard Lutnick recently urged New Delhi to play ball on marketopening if it wants greater access to American consumers explicitly flagging agriculture and dairy as critical sticking points IANS https://dailyworld.in/business/sustaining-dairy-sector-a-pillar-of-rural-livelihoods-641402.html Fri, 03 Oct 2025 18:45:00 +0530 https://dailyworld.in/business/bihar-bagaha-youth-become-job-givers-courtesy-cm-entrepreneurship-scheme-641411.html Patna Oct 3 The Chief Minister Youth Entrepreneurship Scheme is playing a pivotal role in making numerous unemployed youths stand on their own feet by making them entrepreneurs and job givers In the Bagaha district the scheme has yielded considerable results as many youths have taken the entrepreneurship route and opened their own enterpriseA couple of beneficiaries spoke to IANS and shared how the monetary assistance under the scheme became a turning point in their livesSantosh Kumar Oraon said I am very happy to have received benefits under the Chief Minister Entrepreneurship Scheme I was unemployed but I have received benefits and employment Two more people have joined me who work with me Our shop is doing well and two more people are employedSujit Kumar Oraon said I received benefits under the Chief Minister Entrepreneur Scheme We provide online services through computers People from the entire Panchayat benefit from this online service Many from the Panchayat have also joined us in providing serviceHe further said After graduating from college I was unable to find a job and got an opportunity under the Chief Ministers Entrepreneur Scheme and am earning my living through selfemployment I also solve problems arising from the IT sector in rural areas inform the people of my area about government schemes and get their forms filled through my centre he addedArvind Kumar Oraon explained how ten other people were being supported by this schemeI have benefited from the Chief Ministers Entrepreneur Scheme This scheme offers significant benefits Before I was unemployed Now through this shop I am employing about ten people he saidNot only me but also others in the community are able to earn a living he addedThe Chief Minister Entrepreneur Scheme Mukhyamantri Udyami Yojana was launched by the Bihar government with the main objective of promoting entrepreneurship and selfemployment among individuals from all categories in the stateUnder this component financial assistance of up to Rs 1000000 is provided to male applicants from the General Category and Backward Class for establishing and operating business ventures thereby fostering economic growth and entrepreneurship in the state IANS https://dailyworld.in/business/bihar-bagaha-youth-become-job-givers-courtesy-cm-entrepreneurship-scheme-641411.html Fri, 03 Oct 2025 19:32:00 +0530 https://dailyworld.in/business/setback-to-anil-ambani-bombay-hc-upholds-sbi-move-to-classify-loan-account-as-fraud-641419.html Mumbai Oct 3 In a setback to industrialist Anil Ambani the Bombay High Court on Friday rejected a plea against SBIs decision to declare his loan account as fraud A bench of Justices Revati Mohite Dere and Neela Gokhale dismissed Anil Ambanis argument of procedural unfairness and upheld the State Bank of Indias actionThe court did not find any force in the industrialists allegation of arbitrariness in the banks decision and noted that SBI had followed the RBIs July 2024 Master Directions on fraud classificationThe bank tagged the loan accounts of Reliance Communications RCom and its promoter Anil Ambani as fraudulent in June 2025The bank cited diversion of funds breach of covenants and relatedparty transactions as the reasons behind its decision approaching the Central Bureau of Investigation CBI for actionAnil Ambani had challenged the decision on the grounds that he was only a nonexecutive director and had been selectively singled out He also argued that adequate opportunity to present his defence was not provided by the bankEarlier this month Bank of Baroda in an exchange filing declared that the loan accounts of Reliance Communications Ltd RCom and its erstwhile director Anil Ambani had been categorised as fraudThis classification pertained to loans taken before RCom entered the corporate insolvency resolution process CIRP the exchange filing saidThis development marked a crucial turn in the ongoing financial saga surrounding the onceprominent telecom company and its erstwhile directorRcom which underwent the CIRP under the Insolvency and Bankruptcy Code IBC 2016 said that the loans in question are related to the period before its insolvency proceedings began The company asserted that these loans must be resolved as part of a resolution plan or through liquidation under the IBCRCom is presently under the control of a resolution professional Anish Niranjan Nanavaty Anil Ambani is no longer a director of the company IANS https://dailyworld.in/business/setback-to-anil-ambani-bombay-hc-upholds-sbi-move-to-classify-loan-account-as-fraud-641419.html Fri, 03 Oct 2025 20:25:00 +0530 https://dailyworld.in/business/up-over-63-000-youth-get-loan-in-6-months-under-mukhyamantri-yuva-udyami-vikas-abhiyan-641420.html Lucknow Oct 3 More than 25 lakh youth filed their applications before the state government seeking loanassistance under the Mukhyamantri Yuva Udyami Vikas Abhiyan in the current financial year 202526 showcasing its remarkable popularity and appeal among the masses According to a government release over 63000 youth have been distributed loans in the first six months of the current financial year enabling them to start their own venture or enterpriseJaunpur secured the top spot in Uttar Pradesh by distributing loans to 2003 youths the highest in the state while Azamgarh secured second place and Kaushambi stood third in loan distribution to the budding entrepreneursThe scheme has clearly emerged as the first choice of youth in the state as it is giving wings to their dreams and enabling them to take steps for their growth and prosperityWith ample support from the state government the youth in the state are not just building their own businesses but also driving positive social changeAccording to official figures as many as 255174 youth had applied for loans in just six months out of which 208097 applications were sent to banks Among these 64673 applications got banks approval and 63009 youths were eventually disbursed with loans for selfemploymentAs Jaunpur secured the top spot its District Magistrate Dinesh Chandra Singh stated that the scheme aims to provide selfemployment opportunities to the states youth He informed that a special campaign was being conducted to connect young people with banks and facilitate loan distributionHe added that loans have been given to 2250 youths under the campaign Azamgarh ranked second in the state in extending the benefits of the scheme A total of 4285 were forwarded to banks and 1859 loans have already been disbursedKaushambi secured third place in providing the benefits of the scheme in the state A total of 1299 applications were approved by banks while 1185 loans were disbursedAmong others Ambedkarnagar ranked fourth and Jhansi ranked fifth while Siddharthnagar Hardoi and Raebareli also delivered excellent performance in implementing the scheme IANS https://dailyworld.in/business/up-over-63-000-youth-get-loan-in-6-months-under-mukhyamantri-yuva-udyami-vikas-abhiyan-641420.html Fri, 03 Oct 2025 20:26:00 +0530 https://dailyworld.in/business/indias-medtech-sector-projected-to-touch-50-billion-by-2030-dr-jitendra-singh-641421.html New Delhi Oct 3 Indias medical technology sector is valued at around 12 billion in 2025 and is growing at nearly 20 per cent annually with projections to touch 50 billion by 2030 Dr Jitendra Singh Minister of State Independent Charge for Science and Technology and Earth Sciences said on Friday India holds the promise of emerging as a global destination for costeffective quality healthcare the minister said while inaugurating a medical exhibition at Chitra Tirunal Institute for Medical Sciences and Technology SCTIMST ThiruvananthapuramThe minister hailed the institution for producing highquality medical devices at affordable prices and called for scaling up production and expanding awareness of these indigenous innovationsHe highlighted that SCTIMSTs contributions align with the Prime Ministers vision of Atmanirbhar Bharat by reducing reliance on imports Vishwabandhu Bharat by exporting devices like heart valves and MRIcompatible shunts and Viksit Bharat 2047 through revenue generation and industry partnerships in the private sectorCiting examples Dr Singh said the institute has already provided heart valves to over two lakh patients and advanced shunts to about 2000 patients while innovations like the Hemostasis Patch have proved critical in trauma and battlefield careHe noted that such achievements are often underrecognised even within leading hospitals and called for scaling up production to make them more widely availableSingh said that while SCTIMST has developed lifesaving technologies more needs to be done to ensure wider use and public awarenessHe suggested that the institute showcase its devices in central locations such as Delhi involving civil society and stakeholders so that the benefits of its work are better knownThe minister further stressed that SCTIMST represents a unique model in India by combining the Four Ts Teaching Training Treatment and Trade a concept common in some Western countries but relatively new domesticallyThe institute he said not only educates and treats but also generates economic value through manufacturingHe added that the institute can contribute to Indias emergence as a global hub for costeffective healthcare and medical tourism by 2047 IANS https://dailyworld.in/business/indias-medtech-sector-projected-to-touch-50-billion-by-2030-dr-jitendra-singh-641421.html Fri, 03 Oct 2025 20:27:00 +0530 https://dailyworld.in/business/farmers-welcome-msp-hike-for-rabi-crops-say-pm-modis-decision-will-boost-income-and-living-standards-641205.html New Delhi Oct 2 Farmers across different states on Thursday welcomed the Union Cabinets decision to approve the Minimum Support Prices MSP for Rabi crops for the 202627 marketing season They believe that the move will strengthen their income and improve their standard of livingIn Uttar Pradeshs Deoria district farmers expressed their satisfaction with the governments decisionOne farmer said Very good PM Modi is doing excellent work and we are happy Whether it is wheat mustard or groundnut everything is progressing well and we are benefiting greatlyAnother farmer added that the decision announced by the Cabinet chaired by the Prime Minister is highly beneficial for farmers and that all farmer brothers thank him sincerelyThe campaign launched by PM Modi is very beneficial for farmers All farmer brothers thank him sincerely the farmer addedThe MSP implemented by PM Modi is highly beneficial for farmers said another farmerFarmers also believe that the continuous hike in MSPs will have a direct positive impact on their economic conditionThe increase in MSP for both Rabi and Kharif crops will improve the lifestyle and living standards of farmers one farmer saidThe MSP has been increased for Rabi and Kharif crops which will directly impact the economic lives of farmers Their standard of living and lifestyle will improve he saidSimilar sentiments were shared in Punjabs Fazilka district where farmers Jaswinder Singh and Lakhwinder Singh welcomed the announcementThey called the MSP hike a positive step and a clear signal that the government is serious about farmer welfareAt the same time they pointed out that agriculture costs are steadily rising due to diesel pesticides irrigation and other inputs and said that MSP needs to be made more transparent and better aligned with actual costs IANS https://dailyworld.in/business/farmers-welcome-msp-hike-for-rabi-crops-say-pm-modis-decision-will-boost-income-and-living-standards-641205.html Fri, 03 Oct 2025 00:38:00 +0530 https://dailyworld.in/business/indigo-to-resume-flights-between-india-and-china-after-five-years-641207.html New Delhi Oct 2 Lowcost carrier IndiGo on Thursday announced the resumption of its flight services to China marking the return of direct air connectivity between the two countries after more than five years The airline will launch daily nonstop flights from Kolkata to Guangzhou starting October 26 using its Airbus A320neo aircraftSubject to regulatory approvals IndiGo also plans to start direct flights between Delhi and Guangzhou in the coming monthsThe airline said that the restart of services will not only boost tourism but also reestablish avenues for crossborder trade and business partnershipsIndiGo has earlier operated flights to China and already has several arrangements in place The past experience and familiarity with local partners will help us resume these flights smoothly the airline said in a statementThe announcement comes shortly after the Ministry of External Affairs confirmed that India and China would restart direct flights between designated cities this monthThere have been no direct passenger flights between the two countries since 2020 even though China remains Indias biggest bilateral trade partnerThe move also follows recent diplomatic engagements between the two neighbours Prime Minister Narendra Modi visited China last month for the first time in seven years to attend the Shanghai Cooperation Organisation SCO summitDuring the visit PM Modi and Chinese President Xi Jinping discussed strengthening trade ties and agreed that India and China should act as development partners not rivalsWhile the leaders underlined the importance of peace and stability along the disputed border PM Modi also raised Indias concerns over the widening trade deficit with China which currently stands at nearly 992 billionAviation and trade experts believe the resumption of flights will help businesses on both sides by improving connectivity and will also support cultural and tourism exchanges signalling a cautious easing of tensions between New Delhi and Beijing IANS https://dailyworld.in/business/indigo-to-resume-flights-between-india-and-china-after-five-years-641207.html Fri, 03 Oct 2025 00:41:00 +0530 https://dailyworld.in/business/1st-rajdhani-to-mizoram-gets-huge-response-new-rail-projects-boost-trade-amp-connectivity-in-ne-641218.html GuwahatiAizawl Oct 2 Railways has witnessed an encouraging response from both passengers and freight customers following the commissioning of the BairabiSairang 5138km railway line in Mizoram and the commencement of freight operations from Molvom in Nagaland officials said on Thursday The Northeast Frontier Railway NFR Chief Public Relations Officer CPRO Kapinjal Kishore Sharma said that within just a few weeks of operation both passenger and freight services have shown remarkable results reflecting the aspirations and confidence of the people in railways as a lifeline of growth and development He said that since the launch of passenger train services from Sairang on September 13 the response from travellers has been overwhelming with several trains recording well above full occupancy Meanwhile Mizoram capital Aizawl became the fourth capital city in the Northeast by rail apart from Guwahati Agartala and Itanagar after Prime Minister Narendra Modi inaugurated the ambitious 5138km BairabiSairang railway project on September 13 The Prime Minister also flagged off the three new trains after the inauguration of the BairabiSairang new railway project The three trains are SairangAnand Vihar Delhi Rajdhani Express weekly KolkataSairangKolkata Express triweekly and GuwahatiSairangGuwahati Express daily CPRO Sharma said that SairangAnand Vihar Terminal Delhi Rajdhani Express registered an impressive 1625 per cent occupancy while its return service Anand Vihar Terminal Delhi Sairang Rajdhani Express recorded 1583 per cent The Guwahatibound services too witnessed strong patronage with Guwahati Sairang Express achieving 1001 per cent occupancy including a fully booked sleeper class and Sairang Guwahati Express maintaining almost 100 per cent occupancy The newly introduced Kolkata services also drew excellent response with Sairang Kolkata Express reported almost 100 per cent occupancy while the return service Kolkata Sairang Express recorded 1448 per cent with sleeper class occupancy around 144 per cent These trends clearly reflect the strong demand for direct and reliable rail connectivity to and from Mizoram the official said On the freight front a total of eight rakes were unloaded at Sairang station till September 30 The first rake arrived on September 14 carrying 21 wagons of cement from STAR Cement Siding Tetelia near Guwahati This was followed by three rakes of stone chips one rake of automobiles one rake of RMC and one rake of sand from Bairabi The first parcel consignment from Sairang was also booked on September 19 2025 with Anthurium flowers transported to Anand Vihar Terminal through the parcel van of SairangAnand Vihar Terminal Delhi Rajdhani Express The newly constructed Molvom station in Nagaland also marked its entry into freight operations during September The firstever inward rake consisting of 41 wagons of cement from Telangana was successfully placed at Molvom on September 24 This was followed by the first outward rake on September 29 with 42 wagons of stone chips loaded from Molvom to Jirania in Tripura The NFR CPRO said that the growing demand for both passenger and freight services showcases how railway connectivity is transforming lives in the Northeast Beyond convenience these new links promise economic growth better market access for local products and new opportunities for trade and employment he added IANS https://dailyworld.in/business/1st-rajdhani-to-mizoram-gets-huge-response-new-rail-projects-boost-trade-amp-connectivity-in-ne-641218.html Fri, 03 Oct 2025 00:49:00 +0530 https://dailyworld.in/business/eam-jaishankar-meets-airbus-indigo-leadership-to-boost-india-europe-aviation-ties-641229.html New Delhi Oct 2 External Affairs Minister EAM S Jaishankar and Civil Aviation Minister Ram Mohan Naidu Kinjarapu held a highlevel interaction with the Board of Directors of Airbus and senior management of IndiGo focusing on strengthening Indias civil aviation sector and deepening IndiaEurope economic ties The meeting held in New Delhi centred on Indias ongoing infrastructure economic and governance transformations with both ministers highlighting the strategic opportunities these developments present for global aviation stakeholdersPleased to interact with the Board of Directors of Airbus and Senior Management of IndiGo alongside my cabinet colleague Ram Mohan Naidu EAM Jaishankar posted on XHad a fruitful interaction on infrastructure economic and governance transformations underway in India as well as growing IndiaEurope connect And the opportunities they enable for growth of Indias civil aviation sectorThe engagement comes amid rising passenger traffic and expanding airport infrastructure in India positioning the country as one of the fastestgrowing aviation markets globally Airbus and IndiGo key players in Indias aviation ecosystem are expected to play a pivotal role in this growth trajectoryOfficials said the discussions also touched upon technology transfer manufacturing partnerships and sustainability goals aligning with Indias push for selfreliance and green aviation IANS https://dailyworld.in/business/eam-jaishankar-meets-airbus-indigo-leadership-to-boost-india-europe-aviation-ties-641229.html Fri, 03 Oct 2025 01:00:00 +0530 https://dailyworld.in/business/sri-lanka-needs-a-chief-negotiator-to-move-india-trade-pact-forward-641231.html New Delhi Oct 2 As US reciprocal tariffs begin to jolt nations Sri Lanka needs to initiate fresh trade negotiations with India and the government must consider appointing a Chief Negotiator to resolve the trust deficit if any according to a new report Sri Lanka is at a critical juncture with its prospects for 2026 clouded by external shocks Economic growth is forecast to slow to 33 per cent as the United States imposes a 20 per cent tariff on key Sri Lankan exports according to an article in Eurasia ReviewKeeping this in mind Sri Lanka has requested India to expand its export quota under the IndoLanka Free Trade Agreement ISFTA which was signed 25 years agoMeanwhile India has continually advised Colombo to update the existing free trade agreement to address foreseeable issuesAt this stage the Economic and Technology Cooperation Agreement ETCA has become a key topic of discussion However progress on improving the IndiaSri Lanka Free Trade Agreement ISFTA has stalled despite numerous rounds of talks under various governments aimed at expanding trade and investment with India according to the report by A Jathindra a Sri Lankanbased independent political analystIndia remains interested in moving forwardSanthos Jha Indias High Commissioner to Sri Lanka has said that India is not pushing ETCA but is waiting for Sri Lanka to wake up and realise it is indeed beneficialAccording to Deputy Minister of Foreign Affairs Arun Hemachandra If we can secure favourable terms we are open to the agreement If not we will not sign it We are committed to safeguarding the nations economic sovereigntyWhen there is one stronger nation and one weaker nation we ought to understand that there is a propensity for the stronger nation to dominate the weaker nation Therefore we must proceed with caution he notedAccording to the report the challenge therefore is how Colombo can strategically manage relationships with stronger nations to serve its own interests IANS https://dailyworld.in/business/sri-lanka-needs-a-chief-negotiator-to-move-india-trade-pact-forward-641231.html Fri, 03 Oct 2025 01:02:00 +0530 https://dailyworld.in/business/sensex-nifty-open-lower-over-sustained-fii-selling-641243.html Mumbai Oct 3 The Indian benchmark indices opened with mild losses on Friday due to sustained FII selling despite positive global cues and market optimism driven by the Reserve Bank of Indias dovish pause As of 920 am the Sensex was down 191 points or 024 per cent at 80792 and the Nifty declined 56 points or 023 per cent at 24780The broad cap indices Nifty Midcap 100 and Nifty Smallcap 100 inched up 022 and 014 per cent respectively Tata Steel Axis Bank Kotak Mahindra Bank Tata Motors and Asian Paints were among major gainers on the Nifty pack while losers included Max Healthcare Bajaj Finance Shriram Finance and ICICI Bank among othersAmong sectoral indices Nifty Metal the top gainer advanced 089 per cent Nifty PSU Bank up 059 per cent and Nifty Pharma up 030 per cent were other major gainers Nifty Media and Nifty FMCG were the top losers down 065 per cent and 045 per cent respectivelyAnalysts said that from a technical perspective a sustained move above 24900 could pave the way for a rally toward 25000 and 25150 The immediate support is placed at 24750 and 24600 which may act as potential entry points for long tradesThe US markets ended in the green zone overnight as Nasdaq edged up 039 per cent the SampP 500 added 006 per cent and the Dow moved up 017 per cent in the last trading sessionAsiaPacific markets mostly rose Friday tracking Wall Street gains as investors shrugged off the US government shutdown Investors are waiting to see how long the shutdown will last to assess the gravity of its economic repercussionsWhile Chinas Shanghai index added 052 per cent and Shenzhen advanced 035 per cent Japans Nikkei added 144 per cent while Hong Kongs Hang Seng Index declined 084 per cent South Koreas Kospi added 270 per centAnalysts said that the central banks bold initiatives to boost credit growth in the economy can positively sustain the momentum in the market particularly in Bank Nifty However the sustained selling by FIIs in the market is unlikely to sustain this momentumFIIs are likely to further accelerate selling since the market construct provides them the opportunity to sell aggressively Robust buying from DIIs can provide some support to the market particularly in largecap auto stocks which have strong fundamental support now they addedIn the last trading session on Wednesday foreign institutional investors FIIs sold equities worth Rs 1605 crore while domestic institutional investors DIIs were net buyers of equities worth Rs 2916 crore IANS https://dailyworld.in/business/sensex-nifty-open-lower-over-sustained-fii-selling-641243.html Fri, 03 Oct 2025 15:58:00 +0530 https://dailyworld.in/business/banks-to-clear-cheques-on-same-day-from-oct-4-over-rbi-guidelines-641246.html New Delhi Oct 3 Private banks including HDFC Bank and ICICI Bank have informed that they will start sameday cheque clearance from October 4 following the Reserve Bank of Indias RBI updated settlement framework for quicker and more secure payments Cheques deposited from October 4 will be cleared within a few hours on the same day under the new system Both banks have urged customers to keep adequate balances to prevent cheque bounce and to ensure all cheque details are accurately filled to avoid delays or rejectionsCustomers are also urged by the banks to use the Positive Pay System to enhance security requiring prior submission of key cheque details for verification Account holders must provide the account number cheque number date amount and beneficiary name to the bank at least 24 working hours prior to depositing cheques exceeding Rs 50000Banks will verify these details upon cheque presentation Cheques will be cleared if the information matches otherwise the request will be rejected and the drawer must resubmit the detailsCustomers are required to email cheque details to specific regional addresses Banks will send an acknowledgement message upon receipt before processingThe Cheque Truncation System CTS which sends an electronic image of the cheque and its details to the drawee bank is currently used by banks This removes the need for cheques to be physically transferred but when deposited in drop boxes or automated teller machines settlement usually takes two working daysFurther the RBI has made Positive Pay mandatory for cheques above Rs 5 lakh while it is strongly recommended for those above Rs 50000 Cheques validated under Positive Pay are also protected under the RBIs dispute resolution systemThe RBI had announced that Phase 1 of continuous clearing and settlement will begin on October 4 2025 and Phase 2 will begin on January 3 2026Customers are advised to ensure all cheque details are accurate to avoid rejection The amount in words and figures must match the date must be valid and there should be no overwriting in the payees name or amount The drawers signature must also match the banks records IANS https://dailyworld.in/business/banks-to-clear-cheques-on-same-day-from-oct-4-over-rbi-guidelines-641246.html Fri, 03 Oct 2025 16:02:00 +0530 https://dailyworld.in/business/india-advancing-towards-inclusive-and-universal-social-protection-minister-641255.html New Delhi Oct 3 India is advancing towards inclusive and universal social protection said Union Minister Dr Mansukh Mandaviya even as the nation on Friday was conferred with the prestigious International Social Security Association ISSA Award 2025 for outstanding achievement in social security The triennial award recognised Indias exceptional progress in social protection systems globallyIndia is the fifth recipient of this award and the country joins the leading nations worldwide in the field of social protection coverageAddressing the World Social Security Forum WSSF 2025 in Malaysias Kuala Lumpur Mandaviya Minister for Labour and Employment and Youth Affairs highlighted Indias historic expansion in social security coverage from 19 per cent in 2015 to 643 per cent in 2025 which covers over 940 million citizens as recognised by the International Labour Organisation ILOThis award is a testament to the vision of our Prime Minister Narendra Modi and to our guiding principle of Antyodaya empowering the last person in the line that has shaped our journey towards inclusive and universal social protection Mandaviya said while receiving the award on behalf of the governmentFurther the Union Minister elaborated on the establishment of an extensive digital public infrastructure in India for efficient lastmile delivery of social security benefits with special reference to the eShram portalThe eShram portal is a National Digital Database that serves as a OneStop Solution connecting over 310 million unorganised workers with social welfare schemes through a multilingual seamless interface he stated at the premier global gathering of over 1200 social security policymakers and professionals from 163 countriesMandaviya also drew attention to the National Career Service NCS portal which is equipped with robust digital tools to bring job seekers and employers on a common platformToday NCS has an authenticated database of skilled workforce which is easily accessible for employers worldwide and is integrated with eShram This will ensure our skilled youth can access global opportunities without losing their social security benefits he saidDuring the plenary session of the Summit Mandaviya underlined the role of Indias two leading social security organisations the Employees Provident Fund Organisation EPFO and Employees State Insurance Corporation ESIC in providing a wide range of healthcare insurance and pension schemes to the nations workforceHe also spoke on the evolving role of social security in tandem with technological and labour market changesWe are strengthening our social security through comprehensive policy process and digital reforms India is leveraging technology to create new income opportunities and a social security net through a holistic approach that combines financial access skilling selfemployment and digital innovation the Minister saidIndia stands at the forefront ready to shape the future and inspire the worlds youth he added IANS https://dailyworld.in/business/india-advancing-towards-inclusive-and-universal-social-protection-minister-641255.html Fri, 03 Oct 2025 16:23:00 +0530 https://dailyworld.in/business/black-box-partners-with-wind-river-to-accelerate-edge-and-cloud-innovation-globally-641256.html Mumbai Oct 3 Black Box a leading provider of digital infrastructure solutions on Friday announced a global strategic partnership with Wind River an Aptiv company and global leader in intelligent edge software to deliver nextgeneration edge and cloud solutions across industries worldwide As part of this global partnership Black Box has secured preferred status to deliver Wind River solutions in India and the Middle EastThis strengthens Black Boxs leadership in these highpotential markets while unlocking new growth opportunitiesIn addition Black Box has entered into a separate agreement with Wind River to manage enduser customer engagements globally across multiple geographies further expanding the reach and impact of the collaborationThe partnership is expected to drive approximately Rs 1350 crore in revenue globally over the next five years positioning Black Box as a pivotal player in driving enterprise adoption of AIdriven workloads scalable private cloud deployments and intelligent edge solutions that define the next era of digital transformationIndustries such as manufacturing industrial automation retail financial services automotive and telecom stand to benefit significantly gaining access to secure scalable and resilient digital infrastructure that enhances both operational efficiency and customer experienceThis partnership with Wind River is a significant milestone for Black Box said Sanjeev Verma President and CEO of Black BoxBy combining Wind Rivers proven technologies with our deep integration expertise we are wellpositioned to accelerate digital transformation for enterprises in highgrowth markets This will enable us to drive efficiency and innovation for our customers while creating longterm value for our shareholders he addedKey Focus Areas of the PartnershipDelivering integrated intelligent edge and cloudnative infrastructureEnabling secure scalable private cloud deploymentsSupporting AI workloads virtual machines and container migrationsProviding enterprisegrade Linux platforms with longterm support and securityDriving automation and centralized orchestration to simplify digital operationsWith this expanded role Black Box is entering the hyperconverged and edge compute markets at scale reinforcing its commitment to shaping the future of digital infrastructure for enterprises worldwide IANS https://dailyworld.in/business/black-box-partners-with-wind-river-to-accelerate-edge-and-cloud-innovation-globally-641256.html Fri, 03 Oct 2025 16:24:00 +0530 https://dailyworld.in/business/festive-stocking-tax-relief-and-gst-cuts-to-drive-auto-demand-in-h2fy26-september-sales-show-mixed-trend-641267.html New Delhi Oct 3 The Indian automobile industry is heading into the second half of FY26 with cautious optimism as festive stocking reduction in GST rates and income tax relief are expected to boost consumer demand a report said on Monday Meanwhile September sales data reflected a mixed trend with strong growth in twowheelers threewheelers commercial vehicles and tractors even as passenger vehicle volumes slipped on a YearonYear YoY basis Axis Securities highlightedTwo WheelerThree Wheeler 2W3W Segment Domestic twowheeler sales rose 6 per cent YoY and 18 per cent monthonmonth MoM supported by strong performances from Royal Enfield 43 per cent YoY Suzuki Motorcycle 37 per cent YoY and TVS Motor 12 per cent YoYExports remained firm rising 17 per cent YoY and 2 per cent MoM led by Bajaj Auto Hero MotoCorp RE and TVSThreewheeler sales recorded 12 per cent YoY and 6 per cent MoM growth largely driven by MampM 30 per cent YoY and TVS 60 per cent YoY the report notedPassenger Vehicles PV The PV segment saw a 5 per cent YoY decline in wholesales though sales rebounded 16 per cent MoM aided by deferred inventory clearance and GST reductionsJSW MG Motor and Tata Motors outperformed with 47 per cent and 45 per cent YoY growth respectively followed by Toyota Kirloskar 31 per cent YoY and MampM 10 per cent YoY Maruti Suzuki however slipped 6 per cent YoY while Hyundai remained flatCompanywise Tata Motors PV sales jumped 45 per cent YoY while MampMs PV division rose 10 per cent YoY Maruti Suzuki reported a 6 per cent YoY drop in domestic sales though MoM performance improved 2 per centTractors The tractor industry witnessed a sharp rebound with volumes up 50 per cent YoY and 124 per cent MoM buoyed by good monsoons and high reservoir levels MampMs tractor sales surged 50 per cent YoY and 148 per cent MoM Escorts Kubota rose 49 per cent YoY and 125 per cent MoM while VST Tillers and Tractors posted a 42 per cent YoY gain but fell 27 per cent sequentiallyCommercial Vehicles CV Domestic CV sales rose 11 per cent YoY and 19 per cent MoM Tata Motors and MampM recorded middoubledigit growth while Ashok Leyland reported a 9 per cent YoY rise Eicher Motors VECV division remained flat YoY but improved 6 per cent MoM Maruti Suzukis CV sales fell 7 per cent YoYAxis security said that it remains cautiously optimistic for H2FY26 expecting high singledigit growth in PVs and steady demand in CVs supported by festive demand GST cuts rural recovery and new model launchesTractor sales are also expected to remain buoyant aided by improved kharif harvest and reservoir conditions the domestic brokerage firm said IANS https://dailyworld.in/business/festive-stocking-tax-relief-and-gst-cuts-to-drive-auto-demand-in-h2fy26-september-sales-show-mixed-trend-641267.html Fri, 03 Oct 2025 16:35:00 +0530 https://dailyworld.in/business/morgan-stanley-turns-bullish-on-india-bets-on-financials-consumer-plays-industrials-641269.html New Delhi Oct 3 Morgan Stanley believes investors may be underestimating a pivotal shift in Indias growth cycle with both earnings and market peaks still ahead Reflecting this conviction the global brokerage firm has realigned its portfolio strategy to favour domestic cyclicals over defensives and exportled sectorsUnder its Gunning for Growth theme Morgan Stanley has turned overweight on financials consumer discretionary and industrials while adopting an underweight stance on energy materials utilities and healthcareThe international brokerage company emphasised that headwinds from the global slowdown and rich valuations in the second half of 2024 are now reversing setting the stage for India to deliver stronger relative performanceStructural tailwinds such as improved macro stability declining oil intensity in GDP a growing share of services exports fiscal consolidation and lower inflation volatility support the case for higher PE multiples and structurally lower real interest ratesMorgan Stanley highlighted that a favourable mix of high growth low volatility falling interest rates and low beta could drive a significant market reratingThe shift is also being reinforced by a growthoriented macro policy with recent rate and CRR cuts frontloaded government capital expenditure and sweeping GST rate reductions aimed at spurring mass consumption the global firm saidThe brokerage has expectations of positive earnings revisions another RBI rate cut within the current quarter and additional policy reforms to act as catalystsA potential IndiaUS trade deal lowering tariffs can also be seen as an upside triggerAdding to the bullish outlook Foreign Portfolio Investor FPI positioning is currently at alltime lows leaving significant room for inflows once growth recovers said Morgan StanleyThe brokerage firm cautioned that risks remain from a global growth slowdown and geopolitical tensions but maintained its view that Indias improving fundamentals and policy push provide a compelling longterm investment case IANS https://dailyworld.in/business/morgan-stanley-turns-bullish-on-india-bets-on-financials-consumer-plays-industrials-641269.html Fri, 03 Oct 2025 16:37:00 +0530 https://dailyworld.in/business/elon-musk-1st-person-ever-to-reach-net-worth-of-500-billion-641084.html New Delhi Oct 2 Tesla and SpaceX CEO Elon Musk has become the worlds first person ever to reach a net worth of 500 billion followed by Oracles Larry Ellison at a distant second According to Forbes billionaires index Musks net worth stood at 5001 billion as of 415 pm ET 145am Thursday India timeHis feat came as Tesla shares rose over 14 per cent so far this year closing 33 per cent higher on Wednesday US time adding more than 6 billion to Musks wealthMusks AI startup xAI was valued at 75 billion as of July xAI was targeting a 200 billion valuation after a fundraise although Musk said the company was not raising capital at that timeOracle Founder Ellison was the secondrichest person on Forbes list with a net worth of about 3507 billionLast month Ellison briefly become the worlds richest person overtaking Musk following a significant increase in his wealth due to the price surge of his companys sharesFor 300 days Musk was at the top of the global wealth rankings Musk who first became the worlds richest person in 2021 regained the title last year after briefly losing it to Amazon founder Jeff Bezos and LVMHs Bernard ArnaultMeanwhile Tesla has started delivering standard Model Y to its customers in India while the delivery of the Long Range variant is going to commence soonThe electric vehicle maker has announced that the new Model Y owners will be provided with a complimentary Wall Connector allowing convenient installation in their parking space for easy home chargingThe Wall Connector can be installed at customers homes or workplaces enabling them to start each day with a fully charged Tesla reducing costs per mile and eliminating trips to fuel stations Customers can also charge at Tesla Charging Stations in Mumbai and DelhiThe Model Y is available at a starting price tag of Rs 5989 lakhIn August Tesla inaugurated its first showroom in the National Capital Region NCR at the Worldmark 3 complex in Aerocity marking the electric carmakers second retail location in India after Mumbai IANS https://dailyworld.in/business/elon-musk-1st-person-ever-to-reach-net-worth-of-500-billion-641084.html Thu, 02 Oct 2025 12:37:00 +0530 https://dailyworld.in/business/nites-alleges-tcs-forced-2-500-employees-in-pune-to-resign-641097.html New Delhi Oct 2 The Nascent Information Technology Employees Senate NITES a forum representing IT sector staff has accused Tata Consultancy Services TCS of forcing nearly 2500 employees in Pune to resign The allegation was made in a letter written by NITES President Harpreet Singh Saluja to Maharashtra Chief Minister Devendra Fadnavis seeking immediate action to protect the affected workersAccording to NITES the Union Labour Ministry had already asked the Maharashtra labour secretary to look into the matterHowever Saluja said the situation on the ground had worsened with thousands of employees in Pune allegedly losing their jobs in recent weeksThe group claimed that many of these workers are mid to seniorlevel professionals who have spent 10 to 20 years at TCS and most are over 40 years of ageWith financial responsibilities like home loans school fees and care for ageing parents NITES said finding new jobs in the current market is extremely difficult for themThe employees forum further alleged that the terminations were being carried out in violation of the Industrial Disputes Act 1947 as the company had not given notice to the governmentIt claimed that TCS had not paid retrenchment compensation and that employees were being pressured into voluntary resignationsNITES said this crisis was not just about numbers but about families whose childrens education household stability and financial security are now at riskTCS however rejected the allegations In a statement the company said The misinformation shared here is inaccurate and purposefully mischievous Only a limited number of employees have been affected by our recent initiative to realign skills in our organisationThe company added that those impacted had been provided due care and severance benefitsIn June TCS had announced plans to cut about 2 per cent of its global workforce amounting to around 12261 jobs mainly in the middle and senior levelsCalling the situation a darkest hour for many families NITES has urged Chief Minister Fadnavis to intervene stop the alleged illegal terminations and ensure that all employees receive their rightful benefits under the law IANS https://dailyworld.in/business/nites-alleges-tcs-forced-2-500-employees-in-pune-to-resign-641097.html Thu, 02 Oct 2025 12:52:00 +0530 https://dailyworld.in/business/govt-issues-notices-to-25-offshore-crypto-exchanges-for-breaking-anti-money-laundering-rules-641112.html New Delhi Oct 2 The Financial Intelligence Unit of India FIUIND has sent notices to 25 offshore virtual digital asset VDA service providers for allegedly failing to follow Indias antimoney laundering laws according to a Finance Ministry statement The notices were issued under Section 13 of the Prevention of Money Laundering Act PMLAThis section allows authorities to launch investigations check company records verify customer details and demand reports on suspicious transactionsCompanies that violate the rules could face fines of up to Rs 1 lakh for each breachAmong the 25 offshore firms served notices are CoinW of Singapore BTCC of the UK Changelly of Hong Kong and Paxful of the USOther names include Huione of Cambodia CEXIO of the US and the UK LBank of the British Virgin Islands PrimeXBT of Saint Lucia Coinex of Hong Kong Remitano of Singapore Poloniex of Boston BitMex of Seychelles and LCX of LiechtensteinThe FIUIND has also issued separate notices under the Information Technology Act 2000 asking for the removal of apps and websites that were operating in India without proper registration under PMLAFIUIndia which was set up in 2004 is the main agency responsible for collecting and analyzing information about suspicious financial transactionsSo far 50 VDA service providers have registered with FIUIND However several offshore firms continue to operate in India without registering which keeps them outside the antimoney laundering and counterfinancing of terrorism AMLCFT frameworkThe government made it clear that all VDA service providers serving Indian users whether based in India or abroad must register with FIUIND and follow PMLA rulesThese rules apply to companies engaged in activities like cryptotofiat exchanges transfer of virtual assets safekeeping of digital assets or any services giving control over such assetsRegistration and compliance are mandatory even if the companies do not have a physical presence in IndiaThe Finance Ministry also warned users that crypto products and nonfungible tokens NFTs are currently unregulated and carry high risksIt said there is no regulatory protection if investors suffer losses from such transactions IANS https://dailyworld.in/business/govt-issues-notices-to-25-offshore-crypto-exchanges-for-breaking-anti-money-laundering-rules-641112.html Thu, 02 Oct 2025 13:52:00 +0530 https://dailyworld.in/business/gst-20-empowering-livelihoods-and-growth-in-uttar-pradesh-641117.html New Delhi Oct 2 The GST reforms provide targeted relief to Uttar Pradeshs diverse economy spanning GIregistered carpets brassware Zardozi footwear ceramics sports goods and cement Lower tax rates are expected to improve affordability for households ease workingcapital pressures on artisans and strengthen MSME competitiveness in both domestic and global markets according to an official statement issued on ThursdayBhadohi carpets Moradabad brassware and Saharanpur woodcraft are expected to become 67 per cent cheaper boosting exports and sustaining lakhs of artisan jobs The BhadohiMirzapurJaunpur region is one of Indias largest handknotted and handwoven carpet clustersFollowing the GST cut from 12 per cent to 5 per cent handmade carpets will become cheaper This is likely to improve affordability in domestic markets strengthen export competitiveness and ease workingcapital pressures for family looms and SMEs that dominate the clusterThe leather and footwear clusters in the KanpurAgra belt employing 15 million workers will also benefit from the GST rate cut which will improve the competitiveness of MSME and lead to higher exportsThe Firozabad glassware Khurja ceramics and Gorakhpur terracotta stand to gain from lower costs supporting fragile clusters and festival demand as prices come down due to the reduction in GSTThe GST rate cut will boost Lucknows Zardozi a GIregistered craft and an ODOPpromoted product which provides livelihood to around 152 lakh artisans with women forming a large share of the workforce in cottage and smallscale units producing these embellished fabrics The craft serves strong domestic demand from weddings and festivals along with exports to the Middle East Europe and the USAAgras famed marble inlay craft Parchinkari carried forward by artisan families in Agra Firozabad and Mathura remains closely tied to tourism The cluster sustains 500020000 workers including carvers polishers and inlay artists many supported under ODOP initiativesThe sector is closely tied to tourism and décor markets with additional sales through online gifting and limited niche exports to Europe and the Gulf A GI application for Agra Parchinkari is under examination and the craft is globally recognised for its link to the Taj Mahals heritageThe GST rate reduction from 12 per cent to 5 per cent is expected to make stone handicrafts more affordable for tourists and domestic buyers boosting sales and easing cost pressures on small workshopsGST 20 will boost cottagebased and familyrun units that dominate Uttar Pradeshs embroidery sector with nearly 253 lakh artisans engaged across Lucknow Varanasi and Bareilly NIFT and MSME reportsWomen make up a large share of the workforce particularly in semiurban and rural households Lucknow Chikan Craft and Varanasi Zardozi Work are both GIregistered and recognised ODOP products receiving special promotional supportThe GST reforms will give a fillip to the wooden toy and craft sector in Uttar Pradesh is sustained by family artisans many of whom work from their homesThe clusters in Varanasi and Chitrakoot alone employ around 1500025000 artisans while Saharanpur is home to thousands more engaged in woodworking and carving Rampur is also part of this traditional craft network The clusters cater to strong domestic demand through fairs religious toys and décor with modest exports reaching Europe and the GulfWith GST reduced from 12 per cent to 5 per cent toys and small crafts are expected to become cheaper improving affordability in local markets and helping artisans compete with machinemade plastic productsThe GST reforms will also benefit sports good clusters of the state in Meerut and Modinagar with 3000035000 workers engaged in small units MSMEs and larger factories The sector produces cricket and hockey equipment for a domestic market worth about Rs 250 crore while also exporting to the UK Australia Africa and the Middle East It is supported under ODOP with marketing and MSME assistanceWith GST reduced from 12 per cent to 5 per cent sports goods are expected to be cheaper This is likely to boost demand in the domestic market improve export competitiveness and support employment stability across small and medium enterprisesThe GST reduction from 28 per cent to 18 per cent will spur growth in Uttar Pradeshs cement industry spread across Mathura Chunar Mirzapur Firozabad and Aligarh is dominated by largescale industrial plants The sector employs about 1500020000 direct workers and another 10000 in transport raw material supply and constructionlinked servicesThese clusters are located around limestonerich areas ensuring efficient supply chains While the domestic market is driven by housing infrastructure and construction limited clinker exports also go to Nepal and BangladeshThe GST rate reduction will make cement more affordable lowering construction costs for developers and households improving competitiveness against imports and encouraging expansion of industrial plants and logistics services IANS https://dailyworld.in/business/gst-20-empowering-livelihoods-and-growth-in-uttar-pradesh-641117.html Thu, 02 Oct 2025 14:22:00 +0530 https://dailyworld.in/business/esic-issues-guidelines-of-new-amnesty-scheme-to-settle-court-cases-641118.html New Delhi Oct 2 The Employees State Insurance Corporation ESIC has issued detailed guidelines for the new Amnesty Scheme 2025 for settlement of court cases and withdrawal of prosecution cases The measure is aimed at simplifying compliance and reducing the burden of litigation to facilitate ease of doing business according to an official statementThe Amnesty Scheme 2025 is a onetime dispute resolution initiative aimed at reducing the backlog of court cases promoting compliance under the ESI Act and enhancing ease of doing businessThe scheme provides an opportunity to employers and insured persons to settle disputes outside courts in a structured and transparent manner It will remain in operation from October 1 to September 30 2026For coverage disputes the scheme applies to both closed and running units Units closed for more than five years with litigation pending for over five years and no assessment will have their cases withdrawn Units closed within five years must produce records pay accepted dues with interest and will not be liable for damagesRunning units can also settle disputes by producing records to support their claims with no damages imposed However cases where employers voluntarily registered through Form01 on the ESIC portal are excludedFor contribution disputes the scheme covers cases challenged under Sections 45A 45AA 75 82 or Article 226 without substantial legal questions Employers must obtain court permission apply in the prescribed format and pay contributions both employers and employees share with interest as per records Where records are missing documents from the EPFO or Income Tax authorities may be relied upon for verificationIn cases where no such records are available the employer will be required to pay at least 30 per cent of the assessed contribution Additionally interest on the dues will be payable at the revised contribution rate No damages will be levied but employers must give an undertaking for future complianceFor damages disputes cases will be withdrawn on payment of 10 per cent of the determined damages where contribution and interest have already been paid If ESIC has appealed in higher courts damages as fixed by the lower courts will be accepted and cases withdrawnCriminal cases under Section 84 against insured persons for wrong declarations will be withdrawn if excess amounts are refunded and an undertaking is given with no interest charged Cases pending for over five years where insured persons cannot be traced may also be withdrawn but those involving conspiracy or forgery are excludedProsecution cases under Sections 85 and 85A against employers may be withdrawn if contributions and interest are paid based on records or alternative documents like EPFOIT filings Where no records exist dues will be assessed on declared wages SSO survey reports or minimum wages No damages will be imposedThe scheme also covers old cases under Sections 85a and 85g pending for over 15 years with dues up to Rs 25000For closed units such cases may be withdrawn For running units compliance must be updated and at least 30 per cent of dues with interest paid Cases under Section 85e for nonsubmission of returns may be withdrawn since the requirement is redundant with digitalisation subject to compliance Cases of late submission of declaration forms pending for more than three years may also be withdrawn if compliance is complete and accident cases are settledTo ensure smooth implementation Additional Commissioner cum Regional DirectorsRegional DirectorsDirector IcJoint Director IcDeputy Director Ic of ESIC Regional amp SubRegional Offices have been fully empowered to process withdrawals and settlements during the scheme period A fieldlevel committee comprising legal and finance officers along with panel advocates will review such casesAll cases must be settled within six months from the date of application and even those who availed earlier amnesty schemes are eligible to benefit from this new initiativeBy offering a practical transparent and employerfriendly mechanism for dispute resolution this scheme removes procedural bottlenecks facilitates faster closure of longpending cases and builds confidence among stakeholdersIt is expected to ease operational challenges for employers reduce the legal load on courts and further strengthen ESICs role as a progressive and responsive social security institution the statement added IANS https://dailyworld.in/business/esic-issues-guidelines-of-new-amnesty-scheme-to-settle-court-cases-641118.html Thu, 02 Oct 2025 14:23:00 +0530 https://dailyworld.in/business/rs-3-29671-crore-earned-from-e-waste-disposal-69627-lakh-sq-ft-office-space-freed-jitendra-singh-641121.html New Delhi Oct 2 The government has 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 years according to Union Minister Dr Jitendra Singh Speaking 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 highlighted that over 13786 lakh old files have been weeded out and more than 1204 lakh cleanliness sites across the country have been cleaned during previous phases of the campaignThe minister praised the Department of Administrative Reforms and Public Grievances DARPG and other departments for their role in achieving these resultsHe also participated in Shramdaan activities a plantation drive under the Ek Ped Maa Ke Naam initiative and the weeding out of old files at the eventCalling the Special Swachhta Campaign a unique success story of governance in Independent India Dr Singh said the implementation phase beginning October 2 would focus on institutionalising cleanliness drives streamlining administrative processes and improving efficiency in government officesHe thanked Prime Minister Narendra Modi for turning cleanliness into a peoples movement noting that the Prime Ministers call from the Red Fort transformed Swachhata into a behavioural change embraced by homes and communities across the countryDr Singh also honoured Safai Mitras by distributing safety kits and sweets acknowledging their central role in keeping the campaign effective on the groundThe minister added that various ministries and departments have already uploaded ambitious targets for the implementation phase including nearly 69 lakh public grievances for review over 269 lakh physical files and more than 52 lakh efiles identified for reviewThe National Archives of India will also open an exhibition titled Sushasan aur Abhilekh on October 10 showcasing historically valuable records accessed during earlier Special CampaignsAs the Special Campaign 50 enters its next stage Dr Singh said it reaffirms the governments commitment to cleanliness transparency efficiency and public participation while carrying forward Mahatma Gandhis legacy of civic responsibility and collective action IANS https://dailyworld.in/business/rs-3-29671-crore-earned-from-e-waste-disposal-69627-lakh-sq-ft-office-space-freed-jitendra-singh-641121.html Thu, 02 Oct 2025 14:55:00 +0530 https://dailyworld.in/business/indias-electronics-component-scheme-attracts-over-rs-1-lakh-crore-ashwini-vaishnaw-641128.html New Delhi Oct 2 Union Minister for Electronics and IT Ashwini Vaishnaw on Thursday announced that the government has received investment proposals worth Rs 115 lakh crore under the Electronics Component Manufacturing Scheme The scheme was launched to boost domestic production of electronic components and devices in IndiaThe investment applications of more than Rs 1 lakh crore under the Electronics Component Manufacturing Scheme clearly show PM Narendra Modis focus on electronics manufacturing and the trust developed by the world in India in the last 11 years This trust is resulting in investment employment and extra production he saidThe minister said the proposals have exceeded expectations in terms of investment employment and production targets compared to what was initially envisioned at the time of designing the schemeThe application window for the scheme closed on September 30 and we have received investment proposals worth Rs 115351 crore Vaishnaw saidHe added that while the government had originally projected around Rs 59000 crore of investment under this scheme the final proposals have nearly doubled that amountThe application window for the capital equipment segment of the scheme remains openThe Union Cabinet had approved the Electronics Component Manufacturing Scheme in March with a budget outlay of Rs 22919 crore for six yearsThe objective of the scheme is to attract largescale investments into the electronics component manufacturing ecosystem build domestic value addition and integrate Indian companies with global value chains GVCsIt aims to create a strong component ecosystem by offering targeted incentives to Indian manufacturers across different categories of components and subassemblies enabling them to enhance scale and technological capabilitiesThe scheme initially targeted Rs 59350 crore of investment Rs 456500 crore worth of production and the creation of 91600 direct jobs along with numerous indirect employment opportunities accelerating Indias growth in the electronics manufacturing sectorElectronics and IT Secretary S Krishnan said that the proposals submitted under the scheme include commitments to generate employment for 141 lakh people significantly higher than the target of 91600 jobs IANS https://dailyworld.in/business/indias-electronics-component-scheme-attracts-over-rs-1-lakh-crore-ashwini-vaishnaw-641128.html Thu, 02 Oct 2025 15:35:00 +0530 https://dailyworld.in/business/india-gets-249-applications-under-electronics-component-scheme-it-ministry-641148.html New Delhi Oct 2 The government has received 249 applications under the Electronics Component Manufacturing Scheme ECMS covering a wide range of products from printed circuit boards PCBs to subassemblies for electronic goods the Ministry of Electronics and Information Technology said on Thursday The overwhelming response highlights the growing interest of companies in expanding Indias electronics manufacturing sectorAlthough IT Minister Ashwini Vaishnaw did not disclose the names of companies that applied he mentioned that some firms have applied for incentives for multiple types of componentsElectromechanicals and multilayer PCBs attracted the highest number of applicants with 87 and 43 companies respectivelyOne company alone committed an investment of around Rs 22000 croreThe government is also planning to encourage the production of materials as part of the upcoming second phase of the India Semiconductor Mission which is currently being formulatedWhile applications have closed for most products the government will continue to accept applications for capital goods which include heavy manufacturing equipment until April 2027 due to the time needed to establish such facilitiesIT Secretary S Krishnan said that incentives will be given on a first come first served basisIn view of the interest in the scheme 249 applications in all for making everything from printed circuit boards PCBs to socalled subassemblies in electronic goods Krishnan saidThe government will disburse funds in a first come first served way where approved companies that are able to gestate their businesses and get products into the market faster will receive incentive payouts he saidThe Ministry has started scrutinising the applications and plans to fasttrack approvalsScrutiny has started for these applicants and the Ministry will fast track the approval process Krishnan saidLaunched in April as a complement to the India Semiconductor Mission the ECMS has an outlay of Rs 22919 croreIt provides output and employmentlinked incentives to approved applicants and aims to promote the production of electronic components rather than just finished goods and semiconductor fabrication in order to strengthen Indias electronics manufacturing value chain IANS https://dailyworld.in/business/india-gets-249-applications-under-electronics-component-scheme-it-ministry-641148.html Thu, 02 Oct 2025 17:10:00 +0530 https://dailyworld.in/business/northeast-joins-mainstream-in-indias-development-map-report-641156.html New Delhi Oct 2 From long being in the distant periphery the Northeast region in India has now entered the mainstream with the governments Act East policy according to a report on Thursday While rich in culture the Northeast lagged in infrastructure and economic opportunity But with the new policy it has seen significant investments across rail road air and digital connectivity India Narrative reportedThe region is being recast as a strategic hub bridging India with Southeast Asia and serving as a frontrunner of growth the report saidThe report noted that in the last 11 years railway budget allocation to the Northeast has risen fivefold totalling Rs 62477 crore with Rs 10440 crore earmarked this year aloneThis will deepen both interstate and strategic connectivity It will also provide convenience for passengers and transform local economies with a surge in growth of sectors such as bamboo horticultural produce handicrafts and tourismMost notable is the rail infrastructure the BairabiSairang railway line in Mizoram which was inaugurated at a cost of over Rs 8000 crore The railway line stretching just 51 kilometres and including 143 bridges and 45 tunnels has connected Aizawl to the national railway grid for the first time since independenceFurther the 80933 km of rural roads and 2108 bridges built under the Pradhan Mantri Gram Sadak Yojana PMGSY have connected villages in the region to cities increasing access to hospitals schools and marketsBeyond roads and rails the government has also strengthened the regions air connectivity with the UDAN Ude Desh ka Aam Nagrik scheme And with projects such as BharatNet and Digital Bharat Nidhi the Gram Panchayats have been made ready for digital connectivityWith the recent Rising Northeast Investors Summit 2025 attracting Rs 448 lakh crore in investment interest the region is also being developed as a new investment destinationWhile the achievements are remarkable the transformation poses risks such as ecological fragility social sensitivities execution gap and strategic balance said the report IANS https://dailyworld.in/business/northeast-joins-mainstream-in-indias-development-map-report-641156.html Thu, 02 Oct 2025 18:03:00 +0530 https://dailyworld.in/business/jammu-amp-kashmir-to-clock-nearly-10-pc-growth-economy-on-path-to-touch-rs-265-lakh-crore-641165.html New Delhi Oct 2 Jammu and Kashmir is stepping into a new era of growth and development leaving behind years of conflict and underdevelopment Once known mainly for unrest the Union Territory is now being seen as one of Indias fastestgrowing regions with its economy projected to touch Rs 265 lakh crore Since 2019 a series of structural reforms policy changes and massive infrastructure investments have reshaped the regions future according to Kuwait Times reportBetween 202122 and 202425 Jammu and Kashmir recorded steady annual growth of more than 7 percent supported by rising investments booming tourism and social welfare programmesA stronger sense of peace and governance has helped fuel this growth Welfare schemes like Ayushman Bharat universal access to clean drinking water and the construction of more than 17 lakh houses under PM Awas Yojana have improved peoples livesOver 30000 government jobs and the rise of more than 650 startups since 2019 have also added to stability and opportunityIndustry and infrastructure have been at the heart of this transformation Under the Industrial Policy 202130 and the New Central Sector Scheme investment proposals worth Rs 163 lakh crore have been received with the potential to create nearly six lakh jobsClose to 2000 new industrial units are already operational marking a major shift in the regions economic landscape as per the reportTourism long considered the backbone of JampKs economy has touched historic highs In 2023 more than 211 crore tourists visited the Union Territory the highest ever recordedImproved security better roads and diverse attractions such as Gulmargs winter sports ecotourism circuits and upgraded religious sites have brought yearround visitorsThe G20 Tourism Working Group meeting in Srinagar further put the Valley on the global map Largescale infrastructure projects are changing the face of connectivityThe Chenab Railway Bridge the tallest in the world along with the Zojila and ZMorh tunnels new highways and upgraded airports in Srinagar Jammu and Leh have reduced travel time and boosted trade tourism and logisticsMetro rail projects planned for Srinagar and Jammu along with logistics parks signal a vision for modern urban transportEnergy and digital transformation are also moving forward Hydropower projects such as Ratle Kishanganga and Pakal Dul along with new solar initiatives are set to strengthen power supplyAt the same time digital governance is improving through the BharatNet project and over 1100 services available on the eUNNAT portalThe discovery of lithium reserves in Reasi has given the Union Territory an additional strategic edge with the potential to play a key role in Indias clean energy transitionTraining programs for youth in artificial intelligence cloud computing and cybersecurity highlight a future that combines renewable energy with digital innovationExperts say these changes are not just about economic growth but also about strengthening Indias strategic presence in border regionsDualuse infrastructure like highways tunnels and airports support both civilian needs and national securityWith growth expected to touch nearly 10 per cent in the coming years Jammu and Kashmir is now emerging as Indias new growth engine the report added IANS https://dailyworld.in/business/jammu-amp-kashmir-to-clock-nearly-10-pc-growth-economy-on-path-to-touch-rs-265-lakh-crore-641165.html Thu, 02 Oct 2025 18:58:00 +0530 https://dailyworld.in/business/hm-amit-shah-to-open-largest-dairy-facility-projects-worth-rs-825-crore-in-haryana-tomorrow-641173.html Chandigarh Oct 2 Union Home and Cooperation Minister Amit Shah will visit Haryana on Friday to inaugurate Indias largest dairy production facility besides development projects of Rs 825 crore in Rohtak and Kurukshetra Divulging details a state government spokesperson said on Thursday that as part of efforts to promote the cooperative sector HM Shah will inaugurate the newly constructed Sabar Dairy Plant at IMT Rohtak Built for Rs 325 crore the plant will house stateoftheart machinery which will be formally commissioned by the Union MinisterThe facility is expected to generate direct and indirect employment for nearly 1000 people The Sabar Dairy plant is Indias largest production facility for curd buttermilk and yoghurt with a daily capacity of 150 metric tons of curd 3 lakh litres of buttermilk 10 lakh litres of yoghurt and 10 metric tons of sweets The spokesperson further shared HM Shah will also distribute tool kits to 2200 artisans during the Khadi Karigar Mahotsav at Maharshi Dayanand University Rohtak Organised by the Khadi and Village Industries Commission under the Ministry of MSME this event is themed Swadeshi Se Swaavlamban During the programme he will also distribute modern machinery and tool kits along with Rs 301 crore as margin money under the Prime Ministers Employment Generation Programme PMEGP In addition he will inaugurate PMEGP units and will address a gathering later In Kurukshetra HM Shah will inaugurate a fiveday exhibition on Indias new criminal laws The exhibition aims to help lawyers students parents and common citizens understand recent reforms in the criminal justice system The exhibition will showcase the changes and achievements brought about by the new laws and highlight the roles of seven different departments divided into 10 thematic sections The spokesperson said Prime Minister Narendra Modi has taken a historic step by introducing modern criminal laws to make the justice system timely accessible and citizenfriendly By replacing outdated penal codes the government has created a system that simplifies departmental work while enabling faster and more transparent justice for citizens The exhibition will also explain the direct benefits of the new legal framework including speedy trials the use of modern technology and quicker case resolutions This initiative aims to strengthen public trust and give a new direction to Indias justice system HM Shah will also inaugurate and lay the foundation stone for development projects of approximately Rs 825 crore in Kurukshetra These initiatives will significantly strengthen Haryanas infrastructure and open up new avenues for public welfare The projects are expected to accelerate progress create employment opportunities and empower the youth IANS https://dailyworld.in/business/hm-amit-shah-to-open-largest-dairy-facility-projects-worth-rs-825-crore-in-haryana-tomorrow-641173.html Thu, 02 Oct 2025 19:57:00 +0530 https://dailyworld.in/business/kc-venugopal-urges-centre-to-reverse-air-indias-flight-reductions-from-kerala-641176.html Thiruvananthapuram Oct 2 Congress leader and AICC General Secretary Organisation KC Venugopal on Thursday has written to the Union Civil Aviation Minister K Rammohan Naidu urging immediate intervention to halt Air Indias proposed cuts to both domestic and international services from four Kerala airports Air India and Air India Express operates a sizeable number of flights especially to the various Middle East countries and its the backbone for the Kerala diasporaVenugopal warned that the reduction of flights would severely affect the states expatriate community particularly those working in the Gulf who rely on affordable travel options to return homeWith Air India Express cutting services other airlines may hike fares creating a significant financial burden for thousands of Malayalis who are employed on modest incomes abroad he saidVenugopal the Alappuzha MP pointed out that Air Indias move would not only inconvenience workers during festival seasons and peak travel periods but could also disrupt educational and employmentrelated travel for students and professionals from KeralaAccording to reports the airline plans to suspend services to major Gulf destinations including Bahrain and Abu Dhabi from this monthVenugopal highlighted the broader implications saying the flight reductions threaten to erode essential connectivity for the large expatriate community many of whom depend on these services for both work and family reasonsHe reminded the ministry that repeated representations had been made regarding exorbitant airfare hikes and travel difficulties but effective intervention had yet to occurIt is imperative that the Centre restores and maintains these crucial Air India services ensuring that travel remains affordable and accessible for all Malayalis living and working abroad added VenugopalThe letter underscores the growing concern among Keralas large expatriate population over dwindling flight options and rising costs highlighting the need for immediate policy action to protect their travel needsAround 25 million people constitute the Kerala diaspora of which around 85 per cent work in the various Middle East countries IANS https://dailyworld.in/business/kc-venugopal-urges-centre-to-reverse-air-indias-flight-reductions-from-kerala-641176.html Thu, 02 Oct 2025 20:03:00 +0530 https://dailyworld.in/business/centre-extends-unified-pension-scheme-switch-deadline-till-nov-30-641025.html New Delhi Sep 30 The government on Tuesday extended the deadline to switch from the National Pension System NPS to the Unified Pension Scheme UPS till November 30 against the earlier date of September 30 The deadline has been extended for eligible employees past retirees and legally wedded spouses of deceased retirees to exercise their option to join the UPS by two months according to a notification by the Department of Financial Services DFSIn the official communication to the Pension Fund Regulatory and Development Authority PFRDA the DFS said the decision was taken after receiving multiple requests from stakeholders seeking more time in view of recent changes announced under the schemeThe Finance Ministry has directed the PFRDA to make necessary changes in the Central Recordkeeping Agency CRA systems and issue a circular to implement the decisionEarlier the Finance Ministry had urged all Central government employees and past retirees under the NPS who wish to switch to the UPS to exercise their option well ahead of the September 30 deadline to avoid being caught up in a lastminute rushAll eligible employees are urged to exercise their option well before the deadline to avoid any lastminute difficulties and to ensure the timely processing of their requests Employees who choose to remain in the NPS cannot opt for the UPS after this date a Finance Ministry statement had saidEligible employees under the UPS can switch to the NPS only once and cannot switch back to the UPS The switch must be exercised at least one year before superannuation or three months before voluntary retirement whichever is earlierThe switch facility will not be allowed in cases of removal dismissal or compulsory retirement as a penalty or where disciplinary proceedings are ongoing or contemplatedThose who do not opt for the switch within the stipulated time will continue under the UPS by defaultThis initiative aims to provide Central government employees with an informed choice in planning their postretirement financial security By opting for the UPS the employees retain their choice to switch to the NPS at a later date IANS https://dailyworld.in/business/centre-extends-unified-pension-scheme-switch-deadline-till-nov-30-641025.html Wed, 01 Oct 2025 00:02:00 +0530 https://dailyworld.in/business/google-korea-pays-122-million-in-corporate-taxes-in-2024-lawmaker-641044.html Seoul Oct 1 Google Korea the local unit of US tech giant Google paid 172 billion won 122 million in corporate taxes last year a lawmaker said on Wednesday adding the amount represents only a fraction of what South Korean firms would have had to pay Google Korea paid 172 billion won in corporate taxes last year although it should have paid 6762 billion won said Rep Choi Soojin of the People Power Party citing figures based on the companys estimated sales reports Yonhap news agencyShe referred to a report by professor Jeon Seongmin of Gachon University which estimated that Google Koreas revenue in 2024 could have reached up to 113 trillion wonApplying Korean internet giant Naver Corps corporate taxtorevenue ratio of 59 percent Choi argued that Google Koreas tax liability should have been 6762 billion wonAs of last year Google Korea accounted for 312 percent of the countrys data traffic compared with Navers 49 percentHowever Google Korea reported just 3869 billion won in revenue while Naver posted 107 trillion won in sales Choi said Naver paid 3902 billion won in corporate taxes in 2024Neglecting the issue of domestic revenue minimisation and tax avoidance by global big tech companies like Google will be a major factor hindering fair competition with domestic firms Choi said In the long term this will inevitably have a negative impact on the domestic information and communications technology ecosystemMeanwhile Google said on Tuesday it will accept the South Korean governments security requirements to remove coordinates for the Korean region from its map in order to secure approval to export highprecision map data overseasWe are announcing two more measures to address any remaining national security concerns from the government Cris Turner vice president for government affairs and public policy at Google said in a press conference in SeoulFirst to provide worldclass navigation service in Korea we are strengthening our longterm partnership with local technology he saidSecond we will remove latitude and longitude coordinates for places in Korea he added noting that the Seoul government has asked Google to remove such information IANS https://dailyworld.in/business/google-korea-pays-122-million-in-corporate-taxes-in-2024-lawmaker-641044.html Wed, 01 Oct 2025 14:31:00 +0530 https://dailyworld.in/business/sensex-nifty-open-in-green-ahead-of-rbi-repo-rate-decision-641051.html Mumbai Oct 1 The Indian benchmark indices opened with mild gains on Wednesday as investors await the decision of the Reserve Bank of Indias RBI monetary policy decision As of 930 am the Sensex was up 144 points or 018 per cent at 80412 and the Nifty advanced 17 points or 007 per cent at 24628The broad cap indices Nifty Midcap 100 and Nifty Smallcap 100 inched up 052 and 029 per cent respectively Shriram Finance Tech Mahindra Trent and Tata Consumer Products are among the major gainers on the Nifty pack while losers include Bajaj Finance Interglobe Aviation Bajaj Finserv and SBI Life InsuranceAmong sectoral indices Nifty Media the top gainer advanced 174 per cent Nifty Pharma up 124 per cent and Nifty Realty up 130 per cent were other major gainersAnalysts said that banking stocks will be the focus of attention since a rate cut at this juncture will impact their NIMs and their stock prices A pause by the MPC will impart resilience to the banking stocks they saidAmid the continuing market weakness and decline caused by sustained selling from foreign institutional investors FIIs analysts recommended systematic investment in highquality largecap stocks emphasising that patience is essential for longterm wealth creationAccording to market experts Nifty can find support at 24550 followed by 24500 and 24450 On the higher side 24650 can be an immediate resistance followed by 24700 and 24750The US markets ended in the green zone overnight as Nasdaq edged up 031 per cent the SampP 500 added 041 per cent and the Dow moved up 018 per cent in the last trading sessionThe Asian markets were trading mixed during the morning session following gains on Wall Street as investors appeared unperturbed by a looming US government shutdownWhile Chinas Shanghai index added 052 per cent and Shenzhen advanced 035 per cent Japans Nikkei declined 117 per cent while Hong Kongs Hang Seng Index added 081 per cent South Koreas Kospi added 060 per centOn Tuesday foreign institutional investors FIIs sold equities worth Rs 2327 crore while domestic institutional investors DIIs were net buyers of equities worth Rs 5761 crore IANS https://dailyworld.in/business/sensex-nifty-open-in-green-ahead-of-rbi-repo-rate-decision-641051.html Wed, 01 Oct 2025 14:39:00 +0530 https://dailyworld.in/business/centre-hikes-dadr-by-3-pc-to-benefit-118-cr-employees-pensioners--641057.html New Delhi Oct 1 The Union Cabinet on Wednesday increased Dearness Allowance DA and Dearness Relief DR by 3 per cent for about 4919 lakh central government employees and 6872 lakh pensionersnbsp The DADR increase of 3 per cent over the existing rate of 55 per cent of the basic paypension to compensate against the price rise is effective July 1 2025The combined impact on the exchequer on account of an increase in DA and DR will be Rs 1008396 crore per annum IampB Minister Ashwini Vaishnaw said while briefing on decisions taken in the Cabinet meetingnbspThe increase is in accordance with the accepted formula based on the recommendations of the 7th Central Pay CommissionAgencies https://dailyworld.in/business/centre-hikes-dadr-by-3-pc-to-benefit-118-cr-employees-pensioners--641057.html Wed, 01 Oct 2025 16:03:00 +0530 https://dailyworld.in/business/rbi-mpc-decisions-break-8-day-losing-streak-sensex-surges-715-points-641058.html Mumbai Oct 1 IANS The Indian equity indices soared high on Wednesday ending an eightday losing streak following heavy buying after the RBI decided to keep the repo rate unchanged at 55 per cent along with raising GDP growth forecast to 68 per cent for FY26 from its earlier projection of 65 per centnbspThe strong automobile sales data for September has also fueled the market sentimentnbspSensex ended the session at 8098331 up 71569 points or 089 per cent The 30share index started the session a bit lower at 8015990 against last sessions closing of 8026762 However the index turned positive and had a sharp rally after post RBI announced to maintain the status quo on repo rate The index touched an intraday high of 8106843Nifty closed at 2483630 soaring 22520 points or 092 per centnbspNifty closed Wednesdays session with a strong bullish candlestick after the RBI policy outcome and auto sales data reclaiming levels above its 100day EMA at 24750 which earlier acted as resistance said analystsnbspTata Motors Kotak Bank Trent Sun Pharma Axis Bank ICICI Bank Tech Mahindra HDFC Bank Adani Ports Mahindra and Mahindra Eternal Titan TCS ITC BEL and Hindustan Unilever were the top gainers from the Sensex basket Bajaj Finance Ultratech Cement SBI and Asian Paint ended the session lowerSectoral indices mirrored the market sentiment amid value buying Nifty Bank soared 712 points or 130 per cent Nifty Fin Services surged 360 points or 138 per cent Nifty Auto escalated 226 points or 085 per cent Nifty FMCG ended the session 394 points or 072 per cent and Nifty IT jumped 250 points or 074 per centnbspBroader indies followed suit as well Nifty Small Cap 100 escalated 193 points or 110 per cent Nifty Midcap 100 surged 500 points or 089 per cent Nifty 100 soared 207 points or 082 per cent and Nifty Next 50 closed 242 points or 036 per cent higher https://dailyworld.in/business/rbi-mpc-decisions-break-8-day-losing-streak-sensex-surges-715-points-641058.html Wed, 01 Oct 2025 16:19:00 +0530 https://dailyworld.in/business/rbi-policy-statement-an-authoritative-one-towards-market-reforms-sbi-chairman-641059.html New Delhi Oct 1 IANS State Bank of India SBI and Indian Banks Association IBA Chairman CS Setty on Wednesday said the RBI policy statement was an authoritative one towards unveiling of market reforms and moving beyond rate actionsnbspThe move towards a riskbased deposit insurance premium will facilitate significant improvement in the bottom line of sound banksnbspThe withdrawal of framework related to specified borrowers and allowing of MampampA financing by Indian banks are growth accretive and will foster incremental credit flow from banks Setty said in a statementExtension of timelines for repatriation from foreign currency accounts of Indian exporters in IFSC and for forex outlay for Merchanting Trade Transactions besides simplification of reconciliation processes in EDPMSIDPMS portals are welcome steps as they will further enhance ease of doing business for the export sector he further statednbspThe measures towards enhancing customer satisfaction and protection improved use of rupee across crossborder transactions will strengthen the larger financial ecosystem in terms of acceptability and improved currency outlook over the medium term Setty addedAccording to the research report from the SBIs Economic Research Department the unanimous decision of the Monetary Policy Committee MPC to vote for a status quo keeping the policy rate unchanged signals a rare kind of dynamism that fans out to areas well beyond the monetary policy facilitated by comfortable liquidity conditions and benign external sectors despite tradeled uncertaintiesnbspThe domestic financial system appears to benefit the most through a slew of forwardlooking reforms that aim at global repositioning it notedWe believe both FY26 and FY27 inflation numbers are likely to be much lower Juxtaposed against the uncertainty plaguing the global financial markets and economies themselves the choice of MPC of holding rates seems logical from a regulatory angle per se the report highlightednbspHowever given that monetary policy communication plays a pivotal role in guiding expectations the perceived reaction function and the clarity with which communication is delivered assume utmost importancenbspIn this context the RBI has kept the door ajar for future rate cuts with seemingly low inflation forecasts and downward adjustments in growth though the timing of such could keep everyone guessing the SBI report noted https://dailyworld.in/business/rbi-policy-statement-an-authoritative-one-towards-market-reforms-sbi-chairman-641059.html Wed, 01 Oct 2025 18:05:00 +0530 https://dailyworld.in/business/asian-development-bank-forecasts-indias-growth-at-65-pc-for-2025-and-2026-640840.html New Delhi Sep 30 The Asian Development Bank ADB on Tuesday projected Indias growth at 65 per cent for 2025 FY26 and 2026 FY27 as it trimmed its growth outlook for developing Asia and the Pacific by 01 and 02 percentage points for this year and next respectively amid the emergence of a new global trade environment shaped by tariffs and updated trade agreements Indias GDP grew 76 per cent in H1 2025 as higher investment from strong public capital spending offsets lower net exports and consumption despite firm rural demand ADB said in a statementIndustrial growth likewise improved in India with manufacturing and construction performing well offsetting declines in mining and utilities the report mentionedManufacturing conditions strengthened in India and most ASEAN economies Meanwhile services PMI in India stayed strong driven by rising demand for travel and recreation servicesRice prices are also projected to ease amid favourable weather conditions and record harvests in India the worlds largest rice exporter said the reportHigher tariffs imposed by the United States and elevated trade uncertainty are expected to weigh on the regions growthInflation will continue to ease to 17 per cent this year amid lower prices for food and energy before increasing modestly to 21 per cent next year as food prices normaliseIn India CPI inflation stood at 207 per cent in August remaining significantly lower than the 37 per cent reported a year ago Food prices continued to decline for the third consecutive month decreasing 07 per cent yearonyear primarily due to lower costs for vegetables pulses and spicesUS tariffs have settled at historically high rates and global trade uncertainty remains at elevated levels said ADB Chief Economist Albert ParkGrowth in developing Asia and the Pacific has remained resilient this year thanks to strong exports and robust domestic demand but the worsened external environment is impacting the outlook Amid the new global trade environment its crucial for governments to continue promoting sound macroeconomic management openness and further regional integration Park addedGrowth forecasts for the Peoples Republic of China PRC remain unchanged as policy support is expected to cushion the impact of higher tariffs and continued weakness in the property market The PRCs economy is projected to expand by 47 per cent this year and 43 per cent next yearEconomies in Southeast Asia are seeing the largest downgrades to growth forecasts amid weaker global demand and elevated trade uncertainty Growth in the subregion is now projected at 43 per cent for 2025 and the same for 2026 down 04 percentage points for each year compared with Aprils forecasts IANS https://dailyworld.in/business/asian-development-bank-forecasts-indias-growth-at-65-pc-for-2025-and-2026-640840.html Tue, 30 Sep 2025 16:16:00 +0530 https://dailyworld.in/business/sensex-nifty-open-in-green-as-investors-look-for-cues-from-rbi-mpc-meet-640841.html Mumbai Sep 30 The Indian benchmark indices opened in the green zone on Tuesday as investors keep their focus on Reserve Bank of Indias RBI monetary policy decision As of 920 am the Sensex was up 301 points or 038 per cent at 80666 and the Nifty advanced 93 points or 038 per cent at 24728The broad cap indices Nifty Midcap 100 and Nifty Smallcap 100 inched up 032 and 029 per cent respectively Titan Company Asian Paints Cipla Hindalco were among the major gainers on the Nifty pack while losers include Tata Motors Tech Mahindra and Dr Reddys LabsAmong sectoral indices Nifty Consumer Durables the top gainer advanced 059 per cent Nifty Private Bank up 043 per cent and Nifty Metal up 056 per cent were other major gainers All indices except Nifty Media were in the green zoneAnalysts said that the Nifty 50 opened on a positive note in the previous session but slipped below 24650 closing in the red for the eighth straight dayreflecting sustained selling pressureFrom a technical perspective a sustained move above 24800 could pave the way for a rally toward 25000 The immediate support lies at the 24530 and 24400 zonesThe US markets ended in the green zone overnight as Nasdaq edged up 048 per cent the SampP 500 added 026 per cent and the Dow moved up 015 per cent in the last trading sessionThe Asian markets were trading mixed during the morning session as Chinas state data showed manufacturing activity contracted for a sixth straight month albeit less than market estimatesWhile Chinas Shanghai index added 044 per cent and Shenzhen advanced 042 per cent Japans Nikkei declined 005 per cent while Hong Kongs Hang Seng Index dipped 012 per cent South Koreas Kospi added 013 per centOn Monday foreign institutional investors FIIs sold equities worth Rs 2832 crore while domestic institutional investors DIIs were net buyers of equities worth Rs 3846 crore IANS https://dailyworld.in/business/sensex-nifty-open-in-green-as-investors-look-for-cues-from-rbi-mpc-meet-640841.html Tue, 30 Sep 2025 16:17:00 +0530 https://dailyworld.in/business/gold-reaches-record-high-poised-for-best-month-in-14-years-640847.html Mumbai Sep 30 The price of gold reached a record high on Tuesday on track for its largest monthly surge in 14 years amid concerns over a potential US government shutdown and rising expectations for further Federal Reserve rate cuts The price of yellow metal has risen 114 per cent so far in September on track for its best month since August 2011 when it rose 15 per cent boosted by safe haven demandThe price of 24carat gold 10 gram rose to a new high of Rs 115450 on Tuesday according to data published by the India Bullion and Jewellers Association IBJAUS gold futures for December delivery rose 04 per cent to 3872 US President Donald Trump and his Democratic opponents appeared to make little progress at a White House meeting aimed at heading off a government shutdown that could disrupt a wide range of services as early as WednesdayThe US Labour Department announced it will halt economic data releases including the September jobs report in the event of a partial government shutdown closing down its statistics agencyRecent economic data has bolstered expectations for additional easing by the Federal ReserveTraders are pricing in an 89 per cent likelihood of a 25basispoint cut at the upcoming Federal Reserve meeting as reported by CME Groups FedWatch toolSt Louis Federal Reserve President Alberto Musalem said he was open to further rate cuts but the Fed must be cautious and keep rates high enough to continue to lean against inflationGold has outperformed Indian equities for the fourth consecutive DiwalitoDiwali cycle continuing a trend where the yellow metal has outperformed equities in seven of the last eight yearsSilver also outperformed Indian equities for the third consecutive year driven by industrial demand from solar panel manufacturing semiconductors and electric vehiclesMeanwhile analysts say that bullion continues to receive support from robust central bank purchases and sustained inflows into ETFs The Fed Chairs cautious remarks on inflation the labour market and future rate cuts could act as a cap on bullions gainsInvestors are awaiting US data on job openings private payrolls the ISM manufacturing index and Fridays nonfarm payrolls report for insights into the economys trajectory IANS https://dailyworld.in/business/gold-reaches-record-high-poised-for-best-month-in-14-years-640847.html Tue, 30 Sep 2025 16:22:00 +0530 https://dailyworld.in/business/india-set-for-65-pc-average-growth-over-next-decade-morgan-stanley-640855.html New Delhi Sep 30 India is set for a 65 per cent annual growth rate for the next decade and can clock higher growth if the industrial and export sectors expand at a much faster pace US investment banking company Morgan Stanley said in a report on Tuesday The investment banking firm said that India has huge room for growth in the export sector which can be boosted through a comprehensive reform packageAnalysts had earlier reported that Indias economy is set to grow faster at 65 per cent in FY2026 GDP up from the previous expectation of 6 per cent due to GST reforms Morgan Stanley also concurred with this view saying In our base case Indias GDP will grow at this rate over the coming decade one of the fastestgrowing economies globallyMorgan Stanley cited studies that have shown that every job created by manufacturing exports creates two other jobs in related sectors like transportation and logisticsIn this context India presents a significant opportunity to enhance its export market share which currently stands at 18 per cent a figure significantly lower than its weight in terms of workingage population and GDPMorgan Stanley suggested a comprehensive reform package including accelerated buildout of public infrastructure especially for lastmile connectivityFurther it highlighted the need for a systematic approach that incentivises state governments to improve the business environment and ensure that the labour force is adequately skilledThe report acknowledged that policymakers are already making efforts but the magnitude of the jobs problem demands a need to accelerate the paceAt least 84 million people are expected to join the workforce in the coming decade even assuming that participation rates are unchangedOver the medium term one pressing issue is that AI will reduce job growth prospects particularly for the IT services sector which has been a key source of employment creation and for the domestic services sector as well it hintedThe scenario analysis suggests that an average GDP growth rate of 74 per cent will be needed to ensure a stable unemployment rate assuming participation rates stay constant the report saidIf we allow for a gradual rise in participation rate to 63 per cent an average GDP growth rate of 93 per cent is needed to ensure a stable unemployment rate it added IANS https://dailyworld.in/business/india-set-for-65-pc-average-growth-over-next-decade-morgan-stanley-640855.html Tue, 30 Sep 2025 16:30:00 +0530 https://dailyworld.in/business/govt-appoints-new-chiefs-for-union-bank-central-bank-of-india-640863.html New Delhi Sep 30 The government has cleared the appointment of Asheesh Pandey as Managing Director and Chief Executive Officer of Union Bank of India and Kalyan Kumar as the new head of Central Bank of India Both appointments are for a period of three years The Appointments Committee of the Cabinet chaired by Prime Minister Narendra Modi approved the appointmentsPandey who is currently serving as Executive Director of Bank of Maharashtra will take charge as MD and CEO of Union Bank of India for a threeyear term from the date he assumes officeSimilarly Kalyan Kumar Executive Director of Punjab National Bank will step in as MD and CEO of Central Bank of India after the superannuation of incumbent MV Rao in JulyThe Financial Services Institutions Bureau FSIB had recommended Pandey and Kumar for these top positions on May 30 The bureau is headed by former Department of Personnel and Training Secretary Bhanu Pratap SharmaEarlier the government appointed Shirish Chandra Murmu as a Deputy Governor of the Reserve Bank of India for a tenure of three yearsMurmus appointment was also approved by the Appointments Committee of the Union Cabinet and would come into effect from October 9 He will replace M Rajeshwar Rao whose extended service is set to end on October 8Currently he is serving as Executive Director at the RBI looking after the Department of SupervisionAccording to the law the RBI should have four Deputy Governors one from the commercial banking system two from within the bank and an economistThe other Deputy Governors are Swaminathan J Poonam Gupta and T Rabi SankarRao has been in the position for five years In 2020 he was appointed Deputy Governor for a threeyear term In 2023 and 2024 he was given two oneyear extensions IANS https://dailyworld.in/business/govt-appoints-new-chiefs-for-union-bank-central-bank-of-india-640863.html Tue, 30 Sep 2025 16:35:00 +0530 https://dailyworld.in/business/man-industries-shares-plunge-over-15-pc-as-sebi-bars-top-executives-from-market-640868.html Mumbai Sep 30 Shares of Man Industries India Ltd nosedived over 16 per cent in morning trade on Tuesday after the Securities and Exchange Board of India SEBI barred the company and three of its senior executives from accessing the securities market for two years The regulator also imposed a penalty of Rs 25 lakh each on the executives for alleged misrepresentation of financial statementsThose penalised include Chairman Ramesh Mansukhani Executive Director Nikhil Mansukhani and former Executive Director and current CFO Ashok Gupta according to SEBIs orderThe market watchdog said the companys financials from FY16 to FY21 were deliberately misstated depriving investors of a fair picture of its performanceSEBI observed that Man Structural Pvt Ltd MSPL a whollyowned subsidiary was excluded from consolidation after FY15 without justification thereby suppressing grouplevel losses and liabilities while inflating profits of the parent companyCalling the penalty minimal in comparison with its scale of operations Man Industries said the order does not impact its daytoday businessThe company is examining the order in detail and will seek appropriate legal remedies it addedAt 1146 am shares of Man Industries were trading at Rs 35830 on the NSE down 1180 per cent The stock has slipped over 19 per cent in the past five sessions and lost more than 7 per cent in the last month Despite the recent selloff the scrip remains nearly 10 per cent higher yeartodate The stock opened at 35620 falling sharply against last days closing of 40670Meanwhile the domestic stock indices turned flat after starting the session in green At around 1157 the Sensex was at 8031056 down 5438 points or 007 per cent and Nifty was trading at 2463160 down 330 points or 001 per centThe domestic equity indices opened in the green zone on Tuesday as investors kept their focus on the Reserve Bank of Indias RBI monetary policy decision IANS https://dailyworld.in/business/man-industries-shares-plunge-over-15-pc-as-sebi-bars-top-executives-from-market-640868.html Tue, 30 Sep 2025 16:38:00 +0530 https://dailyworld.in/business/kvks-have-empowered-over-58-lakh-indian-farmers-with-latest-scientific-skills-640873.html New Delhi Sep 30 As part of Indias agricultural strategy to take skill enhancement directly to farmers Krishi Vigyan Kendras KVKs are playing a central role in bridging the gap between research and practice through handson training demonstrations and vocational courses tailored to local agroclimatic conditions Between 2021 and 2024 KVKs have trained 5802 lakh farmers according to a statement issued by the Ministry of Agriculture and Farmers Welfare on Tuesday The number of farmers being trained through the KVK outreach has been steadily rising each year from 1691 lakh farmers in 202122 to 2156 lakh in 202324 In 202425 alone up to February 2025 an additional 1856 lakh farmers had also been trainedThese figures reflect the consistency and scale of the KVK network in empowering farmers with practical skills in crop management soil health animal husbandry and allied activities By grounding training in local realities while introducing scientific methods KVKs have become one of the most effective platforms for farmer capacity building ensuring that scientific knowledge translates into fieldlevel improvements and longterm resilienceInstitutions such as KVKs and schemes like Agricultural Technology Management Agency ATMA Skill Training of Rural Youth STRY SubMission on Agricultural Mechanization SMAM and the Pradhan Mantri Kaushal Vikas Yojana PMKVY have also built strong training platforms while sectorspecific interventions in horticulture livestock soil management and food processing are integrating skilling into their frameworksCollectively these efforts underline a clear vision Empowering farmers through skill enhancement is vital to boosting productivity raising incomes and building a resilient agricultural sectorATMA has supported states in revitalising their extension systems reaching around 127 Crore farmers from 2021 to 2025 The scheme promotes decentralised farmerfriendly extension system in the country with an objective to support state Governments efforts to making available the latest technologies and good practices in agricultureThe Soil Health Card Scheme has played a vital role in helping farmers make informed choices on crop planning and fertiliser application As of July 24 this year more than 2517 crore soil health cards have been distributed across the country alongside the organisation of over 93000 farmer trainings 68 lakh demonstrations and thousands of awareness campaigns These initiatives have promoted balanced nutrient management practices among farmers leading to improved soil health and sustainable enhancement of agricultural productivityThe government has also embedded skill development within flagship national schemes The Pradhan Mantri Kaushal Vikas Yojana PMKVY has incorporated agriculture as a priority sector it integrates agriculture and allied sectors within Indias flagship skilling framework Under the PMKVY scheme since its inception in 2015 till June 30 2025 more than 164 Crore have been trained and more than 129 Crore have been certifiedSpecial attention has also been given to preparing the younger generation of farmers for emerging opportunities in agriculture The STRY programme has been designed to impart shortterm skillbased training of about seven days to rural youth and farmers in agriculture and allied sectors IANS https://dailyworld.in/business/kvks-have-empowered-over-58-lakh-indian-farmers-with-latest-scientific-skills-640873.html Tue, 30 Sep 2025 16:45:00 +0530 https://dailyworld.in/business/net-absorption-of-indias-office-market-set-to-hit-record-high-surges-35-pc-in-q3-cy25-report-640878.html New Delhi Sep 30 Indias office real estate market saw its net absorption touching 163 million square feet across the top eight cities in Q3 CY 2025 a 35 per cent yearonyear YoY increase a report said on Tuesday In the first nine months of the year the market recorded 443 million square feet of net absorption reaching 87 per cent of the total for 2024 a report from real estate services firm Cushman amp Wakefield saidAnalysts said the sector is on course to exceed last years record of 507 million square feet potentially establishing a new annual absorption highNet absorption represents the net change in occupied office space and the huge growth of this measure underscored the depth of occupier activity and the sustained expansion of office footprints across sectors the report saidDelhi NCR and Bengaluru topped the quarter with 38 million and 35 million square feet respectively together representing nearly half of total net absorptionGlobal Capability Centres accounted for 32 per cent of leasing in the quarter ITBPM was the largest sector at 31 per cent followed by engineering and manufacturing at 18 per cent and BFSI at 14 per cent Flexible workspace operators represented 11 per centMumbai Chennai and Pune surpassed their yeartodate YTD net absorption levels from the same period last year and the latter two cities recorded their highestever YTD net absorptionGross Leasing Volume GLV in Q3 which is the total amount of office space leased during this quarter including renewals and new leases reached 226 million square feet a decline of 26 per cent yearonyearYeartodate leasing totals 642 million square feet positioning 2025 to potentially match or exceed last years record of 88 million square feetThe market is now firmly in an expansionary cycle with over 80 per cent of Q3 leasing driven by fresh takeup Nearly 80 per cent of Q3 completions were GradeA assets underscoring the decisive shift toward premium futureready workspaces said Anshul Jain Chief Executive India SEA amp APAC Office and Retail Cushman amp WakefieldFresh leasing marked a 21 per cent quarteronquarter increase and a slight YoY uptick the real estate services firm noted IANS https://dailyworld.in/business/net-absorption-of-indias-office-market-set-to-hit-record-high-surges-35-pc-in-q3-cy25-report-640878.html Tue, 30 Sep 2025 16:48:00 +0530 https://dailyworld.in/business/dots-sanchar-saathi-initiative-helps-recover-6-lakh-lost-and-stolen-mobile-handsets-640887.html New Delhi Sep 30 More than 6 lakh lost and stolen mobile handsets have been recovered on the Department of Telecommunications DoT SancharSaathi initiative the government said on Tuesday The Block Your Lost Stolen Mobile Handset facility on the citizencentric digital safety initiative has crossed a significant milestone marking a significant outcome reinforcing the citizens trust in digital governance according to Ministry of CommunicationsThis achievement underscores the governments commitment to protecting citizens digital assets and demonstrates the power of collaborative technology in combating cybercrimeThe facility on Sanchar Saathi integrates DoT Telecom Service Providers TSP and State UT police in realtime mannerBuilt on the theme of Digital by Design this facility is helping recover one phone per minute according to the governmentThe facility empowers citizens to report block trace or unblock lost stolen mobile across all Indian telecom networksReported lost stolen mobile handsets are blocked in telecom networks on pan India basis to prevent any misuseAs soon as any SIM is used with such loststolen mobile handset automated traceability is generated and alert is sent to the citizens as well as the Police Station concerned where the complaint for lost stolen mobile handset was registered according to the governmentCitizens are provided with the details of police station to be contacted in the generated traceability through SMSWith these efforts the recovery rate has shown consistent monthonmonth improvement with monthly recoveries increasing from 28115 in January 2025 to 45243 in August 2025 representing a 61 per cent increase over eight monthsThis milestone reinforces the governments vision of a secure digital ecosystem where technology serves as an enabler for citizen empowerment and safetyLaunched in May 2023 Sanchar Saathi has evolved into Indias most comprehensive digital safety platform recording over 19 crore website visits and more than 90 lakh mobile app downloads IANS https://dailyworld.in/business/dots-sanchar-saathi-initiative-helps-recover-6-lakh-lost-and-stolen-mobile-handsets-640887.html Tue, 30 Sep 2025 16:54:00 +0530 https://dailyworld.in/business/big-boost-for-exporters-fieo-hails-government-move-to-extend-rodtep-scheme-till-march-2026-640890.html New Delhi Sep 30 The Federation of Indian Export Organisations FIEO on Tuesday said it has welcomed the governments decision to extend the Remission of Duties and Taxes on Exported Products RoDTEP scheme till March 31 2026 The scheme will continue to cover exports from domestic tariff area DTA advance authorisation holders special economic zones SEZs and export oriented units EOUsFIEO President S C Ralhan said that the timely extension of RoDTEP has cleared the uncertainty that exporters were facingThe timely extension of RoDTEP has removed the uncertainty that was weighing on the exporting community Ralhan saidHe noted that the decision comes at a crucial time when global trade is facing challenges and the move gives exporters the confidence to plan their shipments without worryThis step comes at a critical juncture when exporters are navigating global headwinds and it provides the muchneeded policy continuity to plan exports with greater confidence he addedRalhan stated that RoDTEP has played a key role in making Indian exports more competitive by refunding taxes and duties that are not otherwise creditedAccording to him the continuation of the scheme will help Indian exporters sustain their momentum despite the current global headwindsThe scheme has been instrumental in making Indian exports competitive by neutralising the incidence of noncreditable taxes and duties and its continuation will help exporters sustain momentum in the current challenging global trade environment Ralhan mentionedHe also praised the Ministry of Commerce amp Industry and the Directorate General of Foreign Trade DGFT for responding positively to exporters concernsHe said that policy stability like this strengthens Indias position in global markets and motivates exporters to explore new destinations and expand their product rangeFIEO further assured that it will keep working closely with the government to ensure exporters take full advantage of the RoDTEP scheme and contribute to Indias ambitious export growth targets IANS https://dailyworld.in/business/big-boost-for-exporters-fieo-hails-government-move-to-extend-rodtep-scheme-till-march-2026-640890.html Tue, 30 Sep 2025 16:56:00 +0530 https://dailyworld.in/business/adani-electricity-provides-653-temporary-power-connections-to-navratri-durga-puja-pandals-640905.html Mumbai Sep 30 Adani Electricity on Wednesday said it has provided 653 temporary power connections to Navratri and Durga Puja Pandals this year In anticipation of the festive season Adani Electricity Mumbai had earlier this month simplified the process for Navratri and Durga Puja organisers to obtain temporary electricity connections for their pandalsWith a commitment to safety and efficiency the utility assures connection within 48 hours of application submissionWe are proud to share that this year we successfully provided temporary electricity connections to over 653 Durga PujaNavratri pandals across the city Adani Electricity recognises the importance of uninterrupted power supply throughout these auspicious celebrations a company spokesperson saidWe understand the importance of uninterrupted power during these celebrations Last year we successfully provided continuous electricity to over 647 Durga PujaNavratri pandals across the city This year weve strengthened our operations to ensure even faster connection releases and reliable supply the spokesperson addedEarlier this year during the Ganpati festival Adani Electricity released approximately 950 temporary connections to Ganpati Pandals and installed over 2571 floodlights at 167 Lord Ganesh idol immersion locations across 15 BMC wards ensuring a safe and joyful experience for devoteesFurther Adani Electricity also deployed a Quick Response Team with a welldefined restoration plan to address any unforeseen issues during the festivities The utility issued a safety advisory urging all pandals toThe company also issued a safety advisory urging all pandals to use wiring services only from licensed electrical contractors install mandatory Residual Current Circuit Breakers RCCBs to protect devotees and volunteers from electrical hazardsPrioritising safety reliability and ease of access to power Adani Electricity also issued dos and donts for Navratri and Durga Puja pandalsAdani Electricity urged to use standard wires and switches for the connection and allow only an authorised person to enter the meter cabinA fire extinguisher with operating knowledge is to be placed near the meter cabin The danger board needs to be fixed near the meter cabin Proper earthing at the meter cabin the company saidAdani Electricity also advised against using unauthorised extensions or direct supply making any joints in wiring putting obstacles at the entry of the meter cabin and exceeding the sanctioned load IANS https://dailyworld.in/business/adani-electricity-provides-653-temporary-power-connections-to-navratri-durga-puja-pandals-640905.html Tue, 30 Sep 2025 17:12:00 +0530 https://dailyworld.in/business/phonepe-mastercards-new-tap-and-pay-feature-to-enable-contactless-payments-in-india-640909.html New Delhi Sep 30 As contactless payments through smartphones gain popularity among consumers PhonePe and Mastercard have announced a collaboration to launch an exclusive feature for Mastercard cardholders in India The new feature enables Mastercard cardholders to make instore payments by simply tapping their NFCenabled smartphones at payment terminals using the PhonePe appThe collaboration is designed to offer secure and frictionless tap and pay experiences at physical retail outlets while also supporting tokenised ecommerce transactions all through NFCcapable Android smartphonesCardholders can simply save their Mastercard credit debit and prepaid cards issued in India on their smartphones and enjoy all the benefits of cardbased paymentsBy combining Mastercards global expertise in tokenisation with PhonePes vast base of 618 million registered users this launch expands access to digital payments both within India and internationally It reinforces the shared commitment of both companies to strengthening the countrys rapidly growing digital economyWere delighted to collaborate with Mastercard to bring devicebased tokenisation to millions of PhonePe users With an increased penetration of NFCenabled smartphones coupled with growing consumer preference towards usage of tap and pay using their cards this functionality marries the two seamlessly said Deep Agrawal Head of Payments at PhonePeThis elevates both convenience and security for users enabling contactless payments at physical stores and safer online transactions all within the familiar PhonePe app We view this association as yet another key step toward delivering a worldclass payment experience to PhonePe users across India and when travelling abroad Agrawal addedMastercard cardholders can now benefit from a suite of powerful features including secure tap and pay instore payments to make contactless payments at NFCenabled terminals across India and abroad using the PhonePe app on Android smartphonesIt provides safer online shopping Individuals can shop securely with Mastercard cards via the PhonePe app with each transaction tokenised and tied to your device making stolen credentials useless elsewhereSaving the card just once can enable a fast secure checkout every time backed by Mastercards global expertise in tokenisation and PhonePes intuitive user experienceMastercard has always believed in scaling innovation This collaboration with PhonePe marks a key step in broadening the reach of digital payments by expanding devicebased tokenisation empowering Mastercard cardholders exclusively to tap and pay at merchant outlets both within the country and abroad India plays a pivotal role in setting the pace of digital commerce globally and Mastercard is proud to support this momentum with solutions that make transactions smarter and safer said Ravi Datla Senior Vice President Products and Solutions South Asia MastercardUsers can securely add their credit and debit cards on the PhonePe app through a simple onetime process Once the card is tokenised and saved they can make seamless payments by selecting the card and tapping their smartphone against any PoS machine and shop onlineThe new feature will begin rolling out to Mastercard cardholders on the PhonePe app in a phased manner IANS https://dailyworld.in/business/phonepe-mastercards-new-tap-and-pay-feature-to-enable-contactless-payments-in-india-640909.html Tue, 30 Sep 2025 17:14:00 +0530 https://dailyworld.in/business/gst-20-comes-as-booster-shot-for-andhras-fisheries-pharma-auto-amp-dairy-sectors-640912.html New Delhi Sep 30 The GST rate cuts that kicked in on September 22 will give a big push to economic growth in Andhra Pradesh across sectors ranging from the fishing harbours of Visakhapatnam to the auto hubs of Anantapur and Chittoor as well as the coffee plantations of Araku Valley and the craft clusters of Kondapalli and Etikoppaka according to an official statement issued on Tuesday Lower tax rates will bring down prices for consumers ease working capital for MSMEs and expand market competitiveness for exporters The impact will be visible across fisheries dairy automobiles pharmaceuticals medical devices renewable energy handicrafts and everyday essentialsAndhra Pradesh contributed 41 per cent of Indias fish production in 202223 The sector accounts for 74 per cent of the states GSDP and provides employment to around 145 lakh people in the 9 coastal districts of the stateWith GST reduced from 12 or 18 per cent to 5 per cent on fish oils extracts preserved products fishing gear diesel engines pumps aerators and key chemicals input costs will decline easing the burden on small processors and traditional fishing communities Andhra Pradesh accounts for over 30 per cent of Indias seafood exports shipped mainly from Visakhapatnam Port to markets such as the US China the EU Southeast Asia and the Middle East These reforms will improve affordability boost competitiveness in global trade and strengthen livelihoods along the states coastline the statement saidThe states dairy sector is ranked 4th nationally in milk production and supports 24 lakh farmers many of them women in selfhelp groups and cooperatives Major brands like Heritage and Vijaya anchor collection chilling processing and retail networks across the stateWith GST reduced to zero on UHT milk and paneer from 12 per cent to 5 per cent on ghee and butter and from 18 per cent to 5 per cent on icecream these products will become cheaper for consumers This will boost demand and generate higher incomes for dairy farmers and SHGled cooperatives in districts such as Krishna Srikakulam West Godavari East Godavari Guntur Chittoor and VizianagaramAndhra Pradesh has also emerged as a key auto hub with major plants of Kia Isuzu Hero and Ashok Leyland alongside over 100 autocomponent MSMEs in districts such as Anantapur Chittoor Visakhapatnam and Nellore The sector employs more than 11000 people including skilled technicians ITI diploma holders and engineers The GST rate cuts have made threewheelers small cars and motorcycles up to 350cc engine capacity and all auto parts more affordable This will increase consumer demand and reduce working capital pressures for manufacturers which also strengthens the competitiveness of Andhras auto exports to Europe the US and South Korea according to the statementIn the pharma sector the state is home to over 250 bulk drug and API units across Anakapalli Visakhapatnam Atchutapuram Naidupeta and Pydibhimavaram The sector employs more than 89000 highly skilled workers supporting both manufacturing and RampDGST cuts from 12 per cent to nil on 30 cancer drugs and from 12 per cent to 5 per cent on medicines for personal use make healthcare more affordable across India Global companies such as Dr Reddys Aurobindo Pharma GSK Lupin and Biocon operate in the state while exports led by the USA 52 per cent South Africa and China reinforce Andhras role as a pharma powerhouseThe states AP MedTech Zone AMTZ in Visakhapatnam houses over 100 manufacturing units producing medical devices diagnostics and healthcare technologies With GST reduced from 18 per cent to 5 per cent on devices like thermometers and medical apparatus and from 12 per cent to 5 per cent healthcare has become more affordable and accessible for domestic patients while strengthening Andhra Pradeshs exports to over 80 countriesWith capacity growing more than sevenfold between 2014 and 2024 clusters in Kurnool Kadapa and Anantapur have positioned the state as a frontrunner in renewable energy adoption The GST rate cuts are poised to boost this sector furtherSimilarly the states handicrafts sector also stands to benefit from the GST rate cuts Andhra Pradesh is famous for its GItagged Etikoppaka amp Kondapalli Toys stone carvings and leather puppetry which will get a boost the statement added IANS https://dailyworld.in/business/gst-20-comes-as-booster-shot-for-andhras-fisheries-pharma-auto-amp-dairy-sectors-640912.html Tue, 30 Sep 2025 17:17:00 +0530 https://dailyworld.in/business/indias-corporate-credit-profile-demonstrates-resilience-amid-global-uncertainties-report-640920.html New Delhi Sep 30 Despite the ongoing global uncertainties including tariffrelated disruptions and geopolitical tensions the credit profile of Indian corporates has demonstrated remarkable resilience a report said on Tuesday The domesticfocussed nature of the Indian economy would likely limit the broader macro impact posed by higher US tariffsDomestic consumption is likely to receive a boost from GST rate rationalisation income tax relief transmission of rate cuts and easing food inflation particularly aiding urban demand which has seen uneven recovery thus far ICRA Ratings said in its reportThe imposition of a steep 50 per cent tariff on Indian exports to the US presents a significant challenge for exporters particularly in sectors such as cut and polished diamonds CPD textiles and seafood which are heavily reliant on the US marketIn view of these positive domestic trends ICRA has revised its GDP growth forecast for FY2026 upward by 50 basis points to 65 per cent helping to cushion the adverse effects of the US tariffs said K Ravichandran Executive Vice President and Chief Rating Officer ICRAThe potential extension of protectionist measures to the services sector remains a key monitorable If enacted the proposed HIRE Act could significantly disrupt Indias outsourcing industry given its substantial reliance on the US market he addedDuring the first half of the current fiscal year H1 FY2026 ICRA upgraded the ratings of 214 entities while downgrading 75 resulting in a robust Credit Ratio of 29 timesRating upgrades in H1 FY2026 were largely driven by entityspecific factors such as the improvement in business fundamentals strengthening of the parents credit profile and reduced project risks in sectors like power and roadsKey business drivers included market share expansion order book growth operating leverage from scale and favourable shifts in product mix and cost structures the report saidAccording to the report the 50 per cent tariffs imposed by the US on Indian exports pose a significant risk to Indias merchandise trade going forwardGiven that the US accounts for nearly 20 per cent of Indias exports and 5060 per cent of these are now vulnerable merchandise exports could contract by approximately 45 per cent YoY in FY2026 if the higher tariffs persist through March 2026Despite the external headwinds the overall impact on the Indian economy is expected to remain limited due to its domesticoriented nature with exports to the US accounting for only 2 per cent of the GDP added RavichandranDomestic private consumption which contributes 57 per cent to the GDP is poised to get a boost from the recent GST rate rationalisation which is likely to enhance affordability and stimulate household spending he said further IANS https://dailyworld.in/business/indias-corporate-credit-profile-demonstrates-resilience-amid-global-uncertainties-report-640920.html Tue, 30 Sep 2025 17:22:00 +0530 https://dailyworld.in/business/maha-govt-approves-gcc-policy-to-create-4-lakh-high-skilled-jobs-640931.html Mumbai Sep 30 IANS The Maharashtra Cabinet chaired by Chief Minister Devendra Fadnavis on Tuesday approved the Global Capability Centre GCC policy to establish the state as a leading hub of GCCs in the country leveraging its diverse industrial base financial leadership and technological expertisenbspThe policy proposes to establish 400 new GCCs create four lakh high skilled jobs by integrating industry driven curricula fostering cutting edge research and equipping the workforce with advanced digital and technical skillsnbspIt aims to promote GCCled research foster multinational collaborations attract high value and knowledge intensive investments develop world class business districts and a robust digital data bankThe policy aims to propel tier2 and tier3 cities such as Nashik Nagpur and Chhatrapati Sambhajinagar into the global GCC landscape creating new economic hubs and fostering balanced technology driven growthnbspThe policy will remain in effect for five years Financial Year 202930 from the date of notification or until the next policy comes into effectnbspThe state government plans to set up dedicated GCC parks equipped with future ready infrastructure walk to work design and plug and play officesnbspThe state government will promote cluster development especially specialised GCC units within flagship initiatives such as Innovation City and Maharashtra Global Med ZoneThe state government proposes to provide one time capital subsidy of Rs 10 crore for small units with investment of Rs 50 crore Rs 20 crore for medium units with investment of Rs 100 to 250 crore and Rs 50 crore for large units with investment of Rs 250 to 300 crorenbspThe interest subsidy of Rs 25 crore per unit will be given for five years and power tariff subsidy of Rs 20 lakh per unit per annum for five years pay roll subsidy up to Rs 50000 for three years for 100 employees per GCC and stamp duty exemption for one timenbspIn addition the state government will provide exemption in electricity dutyThe state government proposes to give reimbursement towards rent green certification patent filing and research and development grantsnbspThe government will provide nonfiscal incentives to facilitate GCC establishment including industry status additional floor space index with premium concessions critical infrastructure fund zoning relaxation single window clearance approvals for right of way open access and property to related freebiesAccording to the policy the state government will establish Maharashtra GCC Growth Council which will serve as a combined thinktank and advisory group ensuring the policy remains aligned with regional economic priorities global business trends and industry specific workforce requirementsnbspTo ensure effective execution one per cent of the overall policy budget of Rs 10 crore per year whichever is lower will be earmarked for policy promotion capacity building stakeholder outreach and impact monitoring https://dailyworld.in/business/maha-govt-approves-gcc-policy-to-create-4-lakh-high-skilled-jobs-640931.html Tue, 30 Sep 2025 17:49:00 +0530 https://dailyworld.in/business/rbi-mpc-meet-expect-next-rate-cut-in-december-says-goldman-sachs-analyst-640933.html New Delhi Sep 30 IANS US investment banking company Goldman Sachs Chief India Economist Santanu Sengupta said on Tuesday that the Reserve Bank of India is expected to maintain current rates and take a dovish approach in the current monetary policy committee with potential cuts in December if conditions permitnbspInvestors await the Reserve Bank of Indias monetary policy decision on Wednesday in hopes for a potential lending rate cutnbspSengupta said that the RBIs stance will be impacted by the uncertain trade policy and external headwinds despite a strong domestic growth outlookSengupta anticipates a 25basispoint rate cut in December provided growth and inflation readings support it according to multiple reportsnbspHe said that a rate cut is likely in December citing stable domestic growth but external challenges such as US tariffs and H1B visa restrictions affecting sentimentnbspHe said that GST reductions will initiate a mass consumption revival starting in the OctoberDecember quarter when the consumption growth will be feltnbspIf you are an FII investor looking at India then you have tariffs and H1B leading to outflows which is the real headwind India is facing he addedSengupta however downplayed concerns around US visa restrictions calling the H1B visa rule impact muted in the near termnbspHe said the state of the domestic economy looks agreeable adding that the GST reforms will feed into growthnbspRegarding room for one more economic lever being enforced by the government other than the GST rate cuts Sengupta said that he doesnt see much room for the government as it has to maintain the fiscal deficit target of 44 per centnbspAnalysts had earlier reported that Indias economy is set to grow faster at 65 per cent in FY2026 GDP up from the previous expectation of 6 per cent due to GST reforms https://dailyworld.in/business/rbi-mpc-meet-expect-next-rate-cut-in-december-says-goldman-sachs-analyst-640933.html Tue, 30 Sep 2025 17:51:00 +0530 https://dailyworld.in/business/indian-equity-indices-end-slightly-lower-ahead-of-rbis-mpc-outcome-640936.html Mumbai Sep 30 The domestic equity indices ended the session slightly lower on Tuesday trading rangebound amid investors showing a cautious approach ahead of the RBI monetary policy outcome Sensex ended the session at 8026762 down 97 points or 012 per cent The 30share index started the session in green at 8054177 breaking a sevenday losing streak against last sessions closing of 8036494 However the index dragged in negative territory following selling in heavyweights like ITC and Tech MahindraNifty settled at 2461110 down 2380 points or 010 per centThe domestic market traded within a narrow range on the monthly expiry day as investors exercised caution ahead of the RBIs policy The market attempted to stabilise after last weeks sustained decline said analystsMarket participants are keenly awaiting the RBIs commentary for insights into future interest rate trajectories although a status quo on rates is widely expected he addedKey developments particularly regarding tariff policies and the upcoming earnings season will be crucial in shaping the markets trajectory beyond the current rangeBharti Airtel ITC Trent Bajaj FinServ Titan Reliance Tech Mahindra Reliance and LampT ended the session lower Adani Ports Tata Motors BEL Bajaj FinServ Hindustan Unilever Sun Pharma Mahindra and Mahindra and Asian Paints closed in greenThe sectoral indices continued to experience a mixed approach for the second consecutive day this week Nifty FMCG fell 235 points or 043 per cent and Nifty IT slipped 37 points or 011 per cent While Nifty Auto jumped 105 points or 040 per cent Nifty Bank escalated 174 points or 032 per cent and Nifty Fin Services settled 15 points higherThe broader market followed suit as well Nifty 100 fell 19 points Nifty Midcap 100 closed flat and Nifty Small Cap 100 jumped 14 points or 008 per centOn the monthly expiry day the Nifty index ended weak facing stiff resistance near its 100day EMA around the 24750 zone The index has been forming a lower highslower lows pattern for the past three sessions highlighting strong bearish control Unless Nifty reclaims and sustains above its 50day EMA the shortterm outlook remains negative said Vatsal Bhuva of LKP Securities IANS https://dailyworld.in/business/indian-equity-indices-end-slightly-lower-ahead-of-rbis-mpc-outcome-640936.html Tue, 30 Sep 2025 18:02:00 +0530 https://dailyworld.in/business/india-inc-credit-ratio-rose-to-256-times-in-h1fy26-report-640943.html New Delhi Sep 30 India Inc credit ratio rose to 256 times in the first half of this fiscal H1FY26 up from 235 times in the second half of the previous financial year The increase underscores strong broadbased resilience across sectorsIn H1FY26 upgrades improved to 15 per cent from 14 per cent seen in H2FY25 while downgrades remained steady at 6 per cent Care Edge Ratings said in its reportThe rating agency upgraded ratings for 282 firms while 110 were downgradedReaffirmations remained largely stable at 80 per cent over the past three years indicating that most ratings continued to hold strong despite a changing external environment the report statedSteady domestic demand and the governments infrastructure push sustained upgrade momentum with nearly 40 per cent of all upgrades linked to infrastructureWhile smallsized auto ancillaries and dealers chemical manufacturers small Finance Banks SFBs and NBFCs exposed to microfinance and unsecured business loans saw the highest downgrades amid pricing pressures and assetquality concernsWhile India Incs performance has improved in H1FY26 the external environment is turning more complex by the day The sharp escalation in US tariffs is reshaping trade flows and supply chains creating challenges for Indian companies and keeping private sector capex in abeyance until there is greater clarity on demand said Sachin Gupta Executive Director and Chief Rating Officer CareEdge RatingsExportheavy sectors may face margin pressures in the near term even as resilient balance sheets and steady domestic demand continue to cushion the impactThe fact that merchandise exports to the US account for just 2 per cent of Indias GDP with smartphones and generic pharmaceuticals currently outside the tariff ambit provides some buffer against immediate largescale disruption the report saidAccording to the report against this complex backdrop Indias infrastructure story continues to shine supported by policy thrust and steady investment momentum The credit ratio of the infrastructure sector jumped to 854 times in H1FY26 with Transport Infrastructure and Power leading the upgrades IANS https://dailyworld.in/business/india-inc-credit-ratio-rose-to-256-times-in-h1fy26-report-640943.html Tue, 30 Sep 2025 18:11:00 +0530 https://dailyworld.in/business/govt-asks-e-commerce-firms-why-prices-went-up-despite-gst-cuts-640945.html New Delhi Sep 30 The government has asked some major ecommerce companies to explain why prices of certain products were raised even after the recent cuts in the goods and services tax GST The new GST regime which came into effect on September 22 simplified the previous multitier structure into two main slabs of 5 per cent and 18 per centThe overhaul aims to reduce the tax burden and bring down prices for consumersAccording to reports one ecommerce platform had advertised higher prices following the GST rate cuts citing a technical glitchThe company later corrected the prices Officials said the government is reviewing the prices of over 50 products with field teams across the country monitoring complianceMeanwhile Consumer Affairs Secretary Nidhi Khare recently said the department received more than 3000 complaints about companies not passing on the GST benefits to buyersWhile speaking at an event Khare mentioned that complaints are coming in every day and the ministry is forwarding them to the Central Board of Indirect Taxes and Customs CBIC for further actionEveryday we are receiving complaints So far we have received close to 3000 consumer complaints We are sending them to the CBIC Central Board of Indirect Taxes and Customs for further action she told reportersThe focus is on misleading advertisements unfair trade practices and cases where the benefits of GST cuts are not being reflected in final prices paid by consumers she addedSanjeev Sanyal member of the Economic Advisory Council to the Prime Minister earlier stated that the government expects industry players to reflect GST cuts in retail prices but does not want to create an inspector raj to enforce itThe government expects the impact of the rate cuts to become more visible during the ongoing festival season when consumer purchases are typically at their peak IANS https://dailyworld.in/business/govt-asks-e-commerce-firms-why-prices-went-up-despite-gst-cuts-640945.html Tue, 30 Sep 2025 18:12:00 +0530 https://dailyworld.in/business/rbi-mpc-meet-expects-next-rate-cut-in-december-says-goldman-sachs-analyst-640946.html New Delhi Sep 30 US investment banking company Goldman Sachs Chief India Economist Santanu Sengupta said on Tuesday that the Reserve Bank of India is expected to maintain current rates and take a dovish approach in the current monetary policy committee with potential cuts in December if conditions permit Investors await the Reserve Bank of Indias monetary policy decision on Wednesday in hopes for a potential lending rate cutSengupta said that the RBIs stance will be impacted by the uncertain trade policy and external headwinds despite a strong domestic growth outlookSengupta anticipates a 25basispoint rate cut in December provided growth and inflation readings support it according to multiple reportsHe said that a rate cut is likely in December citing stable domestic growth but external challenges such as US tariffs and H1B visa restrictions affecting sentimentHe said that GST reductions will initiate a mass consumption revival starting in the OctoberDecember quarter when the consumption growth will be feltIf you are an FII investor looking at India then you have tariffs and H1B leading to outflows which is the real headwind India is facing he addedSengupta however downplayed concerns around US visa restrictions calling the H1B visa rule impact muted in the near termHe said the state of the domestic economy looks agreeable adding that the GST reforms will feed into growthRegarding room for one more economic lever being enforced by the government other than the GST rate cuts Sengupta said that he doesnt see much room for the government as it has to maintain the fiscal deficit target of 44 per centAnalysts had earlier reported that Indias economy is set to grow faster at 65 per cent in FY2026 GDP up from the previous expectation of 6 per cent due to GST reforms IANS https://dailyworld.in/business/rbi-mpc-meet-expects-next-rate-cut-in-december-says-goldman-sachs-analyst-640946.html Tue, 30 Sep 2025 18:13:00 +0530 https://dailyworld.in/business/indias-fiscal-deficit-in-april-august-stands-at-381-per-cent-of-full-year-target-640949.html New Delhi Sep 29 Indias fiscal deficit for the fivemonth period from April to August stood at Rs 598 lakh crore which represents 381 per cent of the governments fullyear target for the financial year 202526 official data released on Tuesday showed This indicates that the fiscal deficit is well under control and on its declining glide path with the economy growing on a stable pathNet tax receipts during the period stood at Rs 81 lakh crore which was a tad lower than Rs 87 lakh crore collected in the same period of the previous financial year Nontax revenue however jumped to Rs 44 lakh crore during AprilAugust from Rs 33 lakh crore in the same period last yearTotal government expenditure increased to Rs 188 lakh crore compared with Rs 165 lakh crore in the same period of the previous year The governments capital expenditure on bigticket infrastructure projects in the highways ports and railways sectors surged to Rs 43 lakh crore during the fivemonth period from Rs 3 lakh crore in the same period last yearThis has played a key role in spurring economic growth in the country amid increasing economic uncertainties triggered by geopolitical developments and the US tariff turmoilThe Central government has pegged its fiscal deficit target at 49 per cent of the gross domestic product GDP in its latest budget for FY25 compared with 56 per cent in the last fiscal year which was lower than the revised estimates of 58 per centA declining fiscal deficit reflects the strengthening of the fundamentals of the economy and paves the way for growth with price stability It leads to a reduction in borrowing by the government thus leaving more funds in the banking sector for lending to corporates and consumers which leads to higher economic growthWith the strong emerging fiscal position in 202526 the government is likely to have some additional headroom to meet unforeseen expenditure on account of defence according to a recent Bank of Baroda reportThe observation assumes importance against the backdrop of the tensions with Pakistan following the Pahalgam terror attack and Operation Sindoor IANS https://dailyworld.in/business/indias-fiscal-deficit-in-april-august-stands-at-381-per-cent-of-full-year-target-640949.html Tue, 30 Sep 2025 18:16:00 +0530 https://dailyworld.in/business/commerce-secretary-unveils-skill-courses-on-tea-sommeliers-tasting-640975.html New Delhi Sep 30 Commerce Secretary Sunil Barthwal on Tuesday launched National Council of Vocational Education and Training NCVETapproved skill courses on Tea Sommeliers and Tea Tasting Announcing the initiative on the occasion of International Tea Day Barthwal said the specialised courses by Tea Board India are aimed at skilling the youth and promoting tea literacy with the programmes proposed to be conducted at the Darjeeling Tea Research and Development Centre Tea Board India KurseongAmong the two courses are Essentials of Tea Sommeliers 60 hours covering fundamentals of tea and tea appreciation professional tea tasting techniques development of innovative tea blends and adoption of artisanal and futureforward tea practicesFundamentals of Tea Tasting 210 hours course covers factorylevel tea tasting operations conducting and managing tea tasting sessions tea blending based on tasting outcomes and implementing futureready tea manufacturing and tasting practicesOn successful completion trained professionals will contribute to sensory evaluation grading and the promotion of tea literacy factors critical to enhancing market competitiveness and consumer satisfaction said Ministry of Commerce and IndustryThe two new courses have been developed with the assistance of the Agriculture Skill Council of India ASCI an awarding body recognised by the NCVET Ministry of Skill Development amp EntrepreneurshipOn successful completion trained professionals will contribute to sensory evaluation grading and the promotion of tea literacyfactors critical to enhancing market competitiveness and consumer satisfactionThe two NCVETapproved skill courses are the firstoftheirkind courses in tea tasting designed in alignment with NEP 2020 and mark a significant step in strengthening Indias tea value chain through a skilled workforce IANS https://dailyworld.in/business/commerce-secretary-unveils-skill-courses-on-tea-sommeliers-tasting-640975.html Tue, 30 Sep 2025 19:21:00 +0530 https://dailyworld.in/business/lg-india-ipo-to-open-on-oct-7-parent-firm-offloads-over-10-crore-shares-640985.html New Delhi Sep 30 LG Electronics India is set to hit the primary market as its initial public offering IPO will open for subscription on October 7 The anchor book will open for a day on October 6 followed by the public subscription window between October 7 and 9 The South Koreabased promoter LG Electronics Inc will divest up to 1018 crore equity shares through an offerforsale OFS route The IPO will not include any fresh issue of sharesSince the issue is entirely an OFS the primary objective of the IPO is to facilitate the share sale by the promoter and to list the companys equity on the domestic exchangesSpecifics of the price band have not yet been decidedShare allotment is scheduled to be finalised by October 10 and the companys stock will make its trading debut on the BSE and NSE on October 14Earlier the leading home appliance maker said on Tuesday it expects to complete the initial public offering IPO of its Indian subsidiary as early as next month to secure funding for future growthIndustry sources estimate the value of LG Electronics India Ltds initial public offering IPO at approximately 18 trillion won 128 billion according to Yonhap news agencyAccording to LG Electronics the sale of a 15 per cent stake in the subsidiary as part of the IPO process had been approved by the boardIn December of last year LG Electronics filed a preliminary listing application to start the IPO process and in March SEBI granted it conditional approvalThe anticipated earnings greatly surpass the 11 trillion won in standalone cash and cash equivalents held by LG Electronics at the end of JuneThe listing of the Indian unit according to analysts like Moodys Investors Service would improve LG Electronics financial standingThe LG Electronics India issue will be the second major public offering next week coming right after Tata Capitals Rs 15512crore IPO which opens on October 6 IANS https://dailyworld.in/business/lg-india-ipo-to-open-on-oct-7-parent-firm-offloads-over-10-crore-shares-640985.html Tue, 30 Sep 2025 20:18:00 +0530 https://dailyworld.in/business/new-india-assurance-receives-rs-2-379-crore-gst-demand-notice-641006.html New Delhi Sep 30 The New India Assurance Company Limited on Tuesday said that it has received a Goods and Services Tax GST demand notice of Rs 2379 crore The order was issued by the Additional Commissioner of Central GST Palghar Commissionerate the company informed in a stock exchange filingThis is in reference to above we would like to inform that the company has received order in original in form DRC07 vide order dated 29092025 under Rules 1001 100 2 100 3 amp 142 5 of the CGSTMHGST ACT 2017 from Additional Commissioner CGST amp Central Excise Palghar Commissionerate the company added in its filingAccording to the notice the demand was raised for not paying GST on premiums received as a follower in coinsurance business and for not paying GST on commission earned from reinsurance premiums paid to reinsurance companiesThe Order states that NIA had failed to discharge the appropriate GST on the amount of premium received by them from the respective Leader in coinsurance business and NIA was also not discharging any GST liability on reinsurance commission earned on the reinsurance premium ceded the firm addedThe insurance company however said that the order will not affect its financial or operational activitiesIt cited a clarification issued by the Central Board of Indirect Taxes and Customs CBIC and the advice of its tax consultants as the basis for having a strong case to defend on meritsThe company added that it will take appropriate action within the prescribed timelines and file its response before the authoritiesOn Tuesday shares of New India Assurance ended 055 per cent higher at Rs 18910 apiece on the National Stock Exchange NSE even as the benchmark Nifty fell 01 per centThe stock has declined 1794 per cent over the past year and is down 663 per cent so far in 2025 IANS https://dailyworld.in/business/new-india-assurance-receives-rs-2-379-crore-gst-demand-notice-641006.html Tue, 30 Sep 2025 21:35:00 +0530 https://dailyworld.in/business/rbi-imposes-monetary-penalty-of-nearly-rs-32-lakh-on-indian-overseas-bank-641012.html New Delhi Sep 30 The Reserve Bank of India RBI on Tuesday said it has imposed a penalty of Rs 318 lakh on Indian Overseas Bank for failing to follow certain rules related to Priority Sector Lending PSL Targets and Classification The central bank said that during its supervision it found instances of noncompliance with PSL directionsThe RBI has imposed a monetary penalty of Rs 3180 lakh on Indian Overseas Bank for noncompliance with certain directions issued by RBI on Priority Sector Lending PSL Targets and Classification the central bank saidThis penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A1c read with Sections 464i and 511 of the Banking Regulation Act 1949 it addedFollowing this a show cause notice was issued to the bank After reviewing the banks reply additional submissions and oral statements during a personal hearing the RBI concluded that the charges were valid and decided to impose the penaltyAfter considering the banks reply to the notice additional submissions made by it and oral submissions made during the personal hearing RBI found that the following charge against the bank was sustained warranting imposition of monetary penalty RBI saidAccording to RBI Indian Overseas Bank had collected loanrelated charges in some PSL accounts even though the sanctioned loan amount in each of those accounts was up to Rs 25000The bank collected loan related charges in certain PSL accounts each having sanctioned loan amount upto Rs 25000 the central bank saidThe regulator clarified that the penalty is only for deficiencies in compliance and does not affect the validity of any transaction or agreement between the bank and its customersThe action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers RBI said IANS https://dailyworld.in/business/rbi-imposes-monetary-penalty-of-nearly-rs-32-lakh-on-indian-overseas-bank-641012.html Tue, 30 Sep 2025 22:41:00 +0530 https://dailyworld.in/business/sebi-pushes-back-retail-algo-trading-framework-sets-phased-rollout-till-april-2026-641018.html New Delhi Sep 30 The Securities and Exchange Board of India SEBI on Tuesday once again extended the timeline for implementing its framework on Safer participation of retail investors in algorithmic trading The regulator said stock brokers will now get more time to comply with the new rules after many brokers and algo vendors requested additional time to make systemrelated changesThe framework which was earlier supposed to come into effect from August 1 2025 was first postponed to October 1 2025SEBI has now introduced a phased roadmap for implementation to ensure a smooth rolloutAs per the new schedule brokers must apply for registration of at least one retail algo strategy through an API by October 31They will have to complete registration of retail algo products and some strategies by November 30 and participate in at least one fullfledged mock trading session by January 3 2026Brokers who fail to meet these milestones will not be allowed to onboard new retail clients for APIbased algo trading from January 5 2026The entire framework along with detailed operational standards will become effective for all brokers from April 1 2026Brokers who are not ready to go live by October 1 will also have to submit information about their existing clients as of September 30 to the exchangesSEBI said the guidelines aim to clearly define the rights and responsibilities of investors brokers algo providers vendors and market infrastructure institutions such as exchanges depositories and clearing corporationsUnder the rules all algorithmic trading strategies will need to be registered with stock exchanges and assigned a unique identificationThis mechanism will help exchanges track algo orders placed through Direct APIs Algo providers will also have to be empanelled with the exchange before registering their products and the process will have to be done through a trading member before an algo ID is issued IANS https://dailyworld.in/business/sebi-pushes-back-retail-algo-trading-framework-sets-phased-rollout-till-april-2026-641018.html Tue, 30 Sep 2025 22:47:00 +0530 https://dailyworld.in/business/ipo-boom-2025-indias-ipo-market-set-to-cross-rs-1-lakh-crore-for-third-time-640775.html New Delhi Sep 29 The Indian Initial Public Offering IPO market is experiencing a blockbuster year in 2025 with companies already raising close to Rs 85000 crore through 74 mainboard offerings as of September The momentum is expected to pick up speed in October with upcoming listings from Tata Capital and WeWork poised to push the total past the Rs 1 lakh crore milestone for just the third time in history Tata Capitals Rs 16000crore IPO will be one of the biggest upcoming share sales The IPO will open for subscriptions from October 6 to 8Additionally between October 3 and 7 WeWork India plans to enter the market with a Rs 3000crore offering When combined the two offerings will surpass the psychological figure of the Rs 1 lakh crore fundraising milestone in 2025Earlier in 2021 and 2024 the IPO market crossed this threshold In 2021 companies raised Rs 119 lakh crore through 63 IPOs while in 2024 the figure jumped to Rs 16 lakh crore from 91 initial offersAs per reports the numbers are expected to surpass all the records this yearLG India is reportedly preparing for a Rs 15000crore issue in the first half of October which could lift the fundraising tally to over Rs 13 lakh croreSeveral more prominent players including ICICI Prudential Groww Pine Labs Canara HSBC Life Credila Financial and Physics Wallah are also in the process of entering the market before yearendMeanwhile the SME IPO segment has also been high this year so far In September alone 53 SME companies have listed their shares raising Rs 2309 crore the bestever monthly performance in terms of both value and volumeWith 207 SME issues raising Rs 9129 crore so far in 2025 the segment has already broken past all previous annual records with three months still to goAccording to analysts the strong appetite for IPOs reflects buoyant investor sentiment robust corporate earnings and deepening retail participation in equities making 2025 one of the most remarkable years yet for Indias primary markets IANS https://dailyworld.in/business/ipo-boom-2025-indias-ipo-market-set-to-cross-rs-1-lakh-crore-for-third-time-640775.html Mon, 29 Sep 2025 17:47:00 +0530 https://dailyworld.in/business/ashwini-vaishnaw-flags-off-7-new-trains-from-bihar-including-three-amrit-bharat-express-640722.html Patna Sep 29 IANS Union Railway Minister Ashwini Vaishnaw on Monday inaugurated seven new train services from Bihar including three Amrit Bharat Express trains aimed at providing affordable longdistance travel options for lower and middleincome passengersnbspVaishnaw flagged off the new services virtually from New Delhi while Bihar Deputy Chief Minister Samrat Choudhary symbolically inaugurated them at Patna JunctionnbspThe newly launched Amrit Bharat Express trains will operate between DarbhangaMadar Ajmer MuzaffarpurCharlapalli Hyderabad and ChhapraAnand Vihar DelhiIn addition four passenger trains were introduced on shorter routes within Bihar These passenger trains will run between JhajhaDanapur PatnaBuxar NawadaPatna and PatnaIslampurnbspnbspHighlighting the significance of the launch Vaishnaw said these trains would provide hasslefree and affordable transportation for Bihari migrants and daily passengersnbspOn the guidance of Prime Minister Narendra Modi and with the partnership of Chief Minister Nitish Kumar we are launching seven new trains that will connect various cities and offer lower fares for the middle and lowerincome groups he saidThe Railway Minister credited Bihar Chief Minister Nitish Kumar for his past contributions to the railway sectornbspnbspWhen Nitish Kumar was the Union Railway Minister he took the department to new heights A slowdown came between 2004 and 2014 but after PM Modi took charge Indian Railways began transforming once again achieving new milestones Vaishnaw notednbspThe introduction of the Amrit Bharat Express a costeffective alternative to the premium Vande Bharat trains is part of the Centres push to modernise railway services while keeping travel affordable for millionsDeputy CM Samrat Choudhary who was present at the Patna event expressed gratitude for the Centres focus on Bihars infrastructure growthnbspI am thankful to PM Narendra Modi CM Nitish Kumar and Union Railway Minister Ashwini Vaishnaw for transforming Bihar in sectors including rail and road infrastructure Choudhary saidnbspHe announced upcoming projects such as a ring road in Bhagalpur and a fourlane road connecting Sultanganj Bhagalpur to Deoghar Jharkhand along with a new railway line to link the two prominent pilgrimage sitesnbspHighlighting the scale of Central assistance Choudhary added During the UPA government Bihar was getting only around Rs 1000 crore annually for the railway sector In the last 11 years of the Narendra Modi government the Centre has provided more than Rs one lakh crore for railway development in Bihar https://dailyworld.in/business/ashwini-vaishnaw-flags-off-7-new-trains-from-bihar-including-three-amrit-bharat-express-640722.html Mon, 29 Sep 2025 15:56:00 +0530 https://dailyworld.in/business/sago-industry-faces-sharp-demand-slump-despite-record-production-in-tn-640731.html Chennai Sep 29 The sago industry in Tamil Nadu which supplies nearly the entire countrys sago rice requirement is grappling with a steep decline in demand from Northern India despite unprecedented production growth Mechanisation and modern processing have enabled a surge in output but sales have failed to keep pace leaving thousands of tonnes of finished goods unsold In the western belt especially Salem and Namakkal districts where most sago units operate production levels have soared in recent years Daily output has increased from an earlier range of 800010000 bags to about 15000 bags each weighing nearly 90 kilograms However demand in major markets such as Delhi Uttar Pradesh Madhya Pradesh Maharashtra and Gujarat has dropped sharply The number of manufacturing units has dwindled dramatically from about 1500 three decades ago to only 350 now and fewer than a third of these operate continuously Yet mechanisation has allowed factories to run throughout the year unlike earlier cottagestyle units that depended on dry weather to process and sundry sago Demand for sago traditionally spikes during July to September when fasting and festivals like Navratri drive consumption in northern states But changing food habits the decline in religious fasting practices and consumer concerns about adulteration have severely hit sales As a result around five lakh bags of sago produced for this festive season remain unsold Price erosion has added to the crisis The wholesale price of a 90kg bag has dropped to about Rs 3200 down from Rs 6000 a few years ago marking the lowest levels in recent memory Exports too have stagnated compounding the losses faced by manufacturers However the parallel starch industry is thrivingStarch extracted from tapioca a byproduct of sago production has seen robust growth due to high demand from sectors like paper pharmaceuticals and food processing Production has more than doubled in the past decade and prices remain stable at about Rs 2400 per bag Industry stakeholders say stronger marketing support is needed to revive sago sales They want the Tamil Nadu government to resume distribution through Public Distribution System PDS outlets include sago in the noon meal scheme and promote its nutritional value to boost demand both within the state and across India Without such interventions they warn one of Tamil Nadus most iconic agroindustries risks further decline IANS https://dailyworld.in/business/sago-industry-faces-sharp-demand-slump-despite-record-production-in-tn-640731.html Mon, 29 Sep 2025 16:29:00 +0530 https://dailyworld.in/business/indian-stock-market-opens-higher-as-rbi-mpc-begins-640739.html Mumbai Sep 29 The Indian equity indices opened higher on Monday with a rise in heavyweight stocks as the key RBI MPC meeting began to decide on the repo rate At 922 am Sensex was up 108 points or 014 per cent at 80534 and Nifty was up 30 points or 012 per cent at 24685Buying was seen in the midcap and smallcap stocks Nifty midcap 100 index was up 302 points or 054 per cent at 56680 and Nifty smallcap 100 index was up 90 points or 051 per cent at 17651Among the sectoral indices Auto IT PSU bank pharma metal realty and energy were major gainers FMCG and private bank were major losersIn the Sensex pack BEL Eternal Titan Tata Steel Trent MampM Tata Motors Infosys Sun Pharma TCS SBI and Power Grid were major gainers HUL Axis Bank LampT Maruti Suzuki Bharti Airtel ITC and HCL Tech were major losersThe threeday Reserve Bank of Indias Monetary Policy Committee MPC meeting began on Monday and was widely expected to hold its key policy rate at 550 per centAccording to analysts the monetary policy expected on October 1 is unlikely to surpriseThe present growthinflation dynamics do not warrant a rate cut Therefore the RBI is likely to hold rates while sending a dovish message to support the growth momentum in the economy they addedAlso the weakness in the broader market is likely to sustain given the valuations which continue to remain elevated Investors can slowly accumulate largecaps in automobiles banking telecom capital goods and cementWeakness in pharmaceuticals is an opportunity to buy into the segment since Indias generic exports will not be impacted by Trumps tariffs on patented and branded medicines they addedMeanwhile foreign institutional investors FIIs extended their selling streak for the fifth consecutive session on September 26 offloading equities worth Rs 5687 crore Domestic institutional investors DIIs on the other hand absorbed the selling pressure purchasing equities worth Rs 5843 crore on the same day IANS https://dailyworld.in/business/indian-stock-market-opens-higher-as-rbi-mpc-begins-640739.html Mon, 29 Sep 2025 16:37:00 +0530 https://dailyworld.in/business/india-in-trade-talks-with-us-eu-new-zealand-oman-peru-chile-piyush-goyal-640740.html New Delhi Sep 29 IANS India is in discussions with the US the EU New Zealand Oman Peru and Chile for free trade agreements FTAs while Qatar and Bahrain have also expressed interest Commerce Minister Piyush Goyal said on MondaynbspThe FTA with the EFTA countries Iceland Liechtenstein Norway and Switzerland which was finalised in March 2024 will come into effect from October 1 Goyal addednbspThe minister informed that the developed nations are keen to sign FTAs with India which has already concluded such agreements with the UAE Australia and the UKnbspIndias foreign exchange reserves have crossed 700 billionHighlighting the recent GST reforms Goyal said that Prime Minister Narendra Modi has gifted the nation a transformative reform during NavaratrinbspSeptember 22 will be written in golden letters in history I believe this is the biggest reform since Independence the impact of which will be felt for decades he remarkednbspThe minister noted that under the leadership of Prime Minister Modi India has transformed from a fragile economy in 2014 to the worlds fourthlargest economy and will become the thirdlargest economy with a 5 trillion size in the next two yearsHe underlined that inflation is at 2 per cent the lowest in a decade while GDP growth stood at 78 per cent in the last quarter He also emphasised that Indias banking sector is robust and interest rates have come downnbspGoyal said that the government is now giving special focus to the development of the northeastern and eastern states working hand in hand with the respective state governments to ensure inclusive growth and developmentnbspHe highlighted the remarkable progress of Uttar Pradesh noting that the state has grown by leaps and bounds under this vision of inclusive growth which has touched every caste class small and big business alikeUttar Pradesh he said is the first state in the country to have established a dedicated Export Promotion Ministry reflecting its proactive approach in strengthening trade and industrynbspThe minister observed that the state has witnessed significant growth across sectors such as khadi cotton and the cottage industrynbspGoyal said that UPs infrastructure development including the dedicated freight corridor expressways airports multimodal logistics hubs inland waterways and container depots has significantly strengthened its trade and industry ecosystem https://dailyworld.in/business/india-in-trade-talks-with-us-eu-new-zealand-oman-peru-chile-piyush-goyal-640740.html Mon, 29 Sep 2025 16:38:00 +0530 https://dailyworld.in/business/electricity-consumers-in-andhra-pradesh-to-get-rs-895-crore-refund-640757.html Amaravati Sep 29 The Andhra Pradesh Electricity Regulatory Commission APERC has ordered a refund of Rs 895 crore to electricity consumers in the state Power distribution companies will credit a refund of approximately 13 paise per unit to consumers in equal monthly instalments It will be automatically adjusted in the bills and there is no action required from the consumersRefunds for consumption months April 2024 to March 2025 will be credited from November 2025 to October 2026 in monthly cycles The discount will apply to the power consumption bill for October the government said on MondayThe state government has claimed that the power sector which has long been debtridden has achieved a remarkable milestone this year by saving as much as Rs 89512 crore during 202425Noting these landmark savings in the Fuel and Power Purchase Cost Adjustment FPPCA the Andhra Pradesh discoms would be refunding this money to all electricity consumers in the state starting in November this yearThe APERC noted that an expenditure of Rs 186364 crore was incurred under FPPCA against the budgeted Rs 275876 crore or expected earlier for 202425 This has resulted in savingsreduction of Rs 89512 croreEarlier the APERC had levied an FPPCA charge of 40 paise per unit on consumers for 202425 Out of this there has now been a return of Rs 895 crore which the distribution utilities will be credited back to consumersThe government called the refund of the bill a historic development This is the first time since electricity sector reforms began in 1999 that power distribution utilities will refund FPPCA amounts to consumers in monthly instalments This marks a milestone in proconsumer governance and financial prudence in the power sector it saidAs per the order of APERC discomwise refund amount is Rs 01328kWh for Andhra Pradesh Southern Power Distribution Company Limited APSPDCL Rs 01343kWh for Andhra Pradesh Central Power Distribution Company Limited and Rs 01312kWh for Andhra Pradesh Eastern Power Distribution Company APEPDCL IANS https://dailyworld.in/business/electricity-consumers-in-andhra-pradesh-to-get-rs-895-crore-refund-640757.html Mon, 29 Sep 2025 17:19:00 +0530 https://dailyworld.in/business/colocation-cloud-services-build-backbone-of-indias-1-trillion-digital-economy-mission-report-640765.html New Delhi Sep 29 The colocation and cloud services segment in India is building the backbone of the nations 1 trillion digital economy mission a report said on Monday Data centres and cloud platforms form the backbone of Indias fastgrowing digital economy which is expected to reach 1460 billion by the Financial Year 2030 FY30Meanwhile colocation and cloud can deliver secure scalable infrastructure powering enterprises hyperscalers and government digital growth Equirus Capital a fullservice investment banking firm said in its reportMeanwhile the foundations of 1 trillion digital economy would be hardware infrastructure focussing on semiconductors and electronics manufacturing and the data centre and hyperscaler layer focussing on physical and cloud infrastructureAdditionally the foundational model layer with a focus on AI model development and the application layer focussing on realworld AI adoption will play crucial rolesAccording to the report India is poised for significant data centre capacity expansion driven by large investments yet demand continues to outpace supplyThe capex will likely grow from Rs 175 billion to Rs 575 billion thereby registering a growth of 23 per cent Compounded Annual Growth Rate CAGR from 2024 to 2030Despite this high supply of data centres the demand seems to outpace supplyIn the past year the supply has risen from 75 megawatt MW to 114 MW almost a 50 per cent addition then the demand has risen from 81 MW to 122 MW an increase of over 50 per cent the report notedAs per the report key factors driving growth in Indias data centre and cloud computing market are the explosion of data consumption enterprise Cloud adoption policy and regulatory support and AI and emerging tech workloadsAdani Nxtra and Sify will likely emerge as leading players in the data centre industryMore than 16GW of capacity to be added to the existing 13GW capacity with Adani Connex Nxtra and Yotta to add c860MW of capacity the report said IANS https://dailyworld.in/business/colocation-cloud-services-build-backbone-of-indias-1-trillion-digital-economy-mission-report-640765.html Mon, 29 Sep 2025 17:28:00 +0530 https://dailyworld.in/business/fpis-offload-rs-16-422-crore-last-week-sentiments-to-reverse-in-near-future-analysts-640649.html Mumbai Sep 28 Foreign portfolio investors FPIs offloaded Rs 16422 crore worth of Indian equities last week driven by concerns over valuations and new policy measures of US government but the sentiment is set to reverse analysts said on Sunday A 100000 fee on new H1B visa applications and high tariffs on branded drugs have raised concerns among FPIs regarding earnings pressure in Indias IT and pharmaceutical sectorsBenchmark indices experienced their steepest weekly decline in seven months due to sustained outflows with Indian equities lagging behind emerging markets by nearly 26 per cent yeartodate in dollar termsPersistent FPI selling global trade tensions and sectorspecific pressures weighed on sentiment analysts saidDr VK Vijayakumar Chief Investment Strategist Geojit Financial Services said that foreign portfolio investors have withdrawn 21 billion from India in the past year marking the largest outflow among emerging markets during this timeframeThis FPI outflow also has largely contributed to the depreciation in INR of 35 per cent against the dollar The elevated valuations in India vis a vis other markets and the tepid earnings growth are the principal reasons behind the FPI pull out he saidIn the first three months of 2025 FPIs were sellers and in the next three months they turned buyers In July August and September so far they have again turned sellersThe depreciation of Indian rupee in contrast to the appreciation of other emerging market currencies intensified the pressure he addedRecord automobile bookings reduced GST rates and cheap credit are fuelling a recovery in the automotive and white goods sectors the analyst saidHe said that this will lead to superior earnings growth which the market and FPIs will begin to discount adding that further rupee depreciation is unlikelyIt is safe to assume we are near the trough of the FPI pullout said Vijayakumar adding that earnings growth in India is expected to pick up from Q3 FY26 gathering momentum in FY27 IANS https://dailyworld.in/business/fpis-offload-rs-16-422-crore-last-week-sentiments-to-reverse-in-near-future-analysts-640649.html Sun, 28 Sep 2025 16:15:00 +0530 https://dailyworld.in/business/uk-pledges-15-billion-pounds-loan-guarantee-for-jaguar-land-rover-post-cyberattack-640655.html New Delhi Sep 28 The UK government has announced a 15billion pound 2 billion loan guarantee for Jaguar Land Rover JLR to stabilise its supply chain following a cyberattack that halted production for nearly a month The assistance comes amid small suppliers of the company informing that they had one week left at most before they ran out of cashTata Motors which owns Jaguar Land Rover operates three factories in the UK producing approximately 1000 vehicles daily and supporting thousands of jobs in Birmingham and LiverpoolSmaller suppliers faced critical financial strain due to the extended shutdown and a recent survey revealed that companies are reducing staff hours or making redundanciesUKs Business minister Peter Kyle said the cyberattack was not only an assault on an iconic British brand but on our worldleading automotive sector adding that the loan guarantee will help support the supply chain and protect skilled jobsThe business ministry announced that financing will be privately raised guaranteed by Britains export credit agency UK Export Finance and is expected to unlock 15 billion pounds of support for Land Rovers supply chainShares of Tata Motors fell around 498 per cent this week but rebounded 145 per cent on Friday following reports that its British subsidiary could incur a potential uninsured loss of approximately 2 billion due to the cyberattack on September 2Reportedly the impact could surpass JLRs total profit from the last fiscal year as JLR had not finalised a cyber insurance policy potentially leaving the automaker uninsured for the attackJaguar Land Rover announced it will extend factory closures until October 1The companys three UK plants in Solihull Halewood and Wolverhampton used to produce approximately 1000 cars daily with reports estimating losses of around 50 million pounds per week due to the plants being shutdown IANS https://dailyworld.in/business/uk-pledges-15-billion-pounds-loan-guarantee-for-jaguar-land-rover-post-cyberattack-640655.html Sun, 28 Sep 2025 16:20:00 +0530 https://dailyworld.in/business/pv-sales-to-grow-14-pc-in-fy26-icra-640665.html New Delhi Sep 28 Indias commercial vehicle and passenger vehicle segments get a cautiously optimistic outlook for FY2026 with moderate growth expected in both segments amidst GST rate reductions a report said on Sunday In August wholesale volumes of commercial vehicles increased by 6 per cent yearonyear YoY while retail volumes rose by 32 per cent a report from ratings agency ICRA saidThe moderate growth was because of purchase deferment among fleet operators in anticipation of GST reductions This also resulted in a modest 13 per cent increase in wholesale volumes for the first five months of FY2026ICRA forecasted a 1 to 4 per cent increase in passenger vehicle volumes for FY2026 driven by new model launches and policy reliefLight commercial vehicle retail sales increased by 82 per cent in August and 08 per cent growth sequentially Despite the growth headwinds in the LCV truck segment persist due to the rising preference for preowned vehicles and competition from electric threewheelers the report saidThe medium and heavy commercial vehicle MampHCV sales saw a robust 92 per cent YoY increase despite recent demand dampening by prolonged monsoonsThe bus segment is projected to grow by 8 to 10 per cent buoyed by replacement demandPassenger vehicle sales declined in August compared to both the previous month and the same period last year as buyers postponed purchases in anticipation of potential GST reductions the report saidPassenger vehicle exports increased by 25 per cent in August and 15 per cent in the first five months of the fiscal yearSUVs maintained their dominance representing 65 t0 66 per cent of overall passenger vehicles volumeICRA said that the overall economic environment a resurgence in construction and mining and continued festive season demand are expected to support sales across automobile segments IANS https://dailyworld.in/business/pv-sales-to-grow-14-pc-in-fy26-icra-640665.html Sun, 28 Sep 2025 16:31:00 +0530 https://dailyworld.in/business/indias-passenger-vehicle-sales-to-grow-14-pc-in-fy26-report-640667.html New Delhi Sep 28 Indias commercial vehicle and passenger vehicle segments get a cautiously optimistic outlook for FY2026 with moderate growth expected in both segments amidst GST rate reductions a report said on Sunday In August wholesale volumes of commercial vehicles increased by 6 per cent yearonyear YoY while retail volumes rose by 32 per cent a report from ratings agency ICRA saidThe moderate growth was because of purchase deferment among fleet operators in anticipation of GST reductions This also resulted in a modest 13 per cent increase in wholesale volumes for the first five months of FY2026ICRA forecasted a 1 to 4 per cent increase in passenger vehicle volumes for FY2026 driven by new model launches and policy reliefLight commercial vehicle retail sales increased by 82 per cent in August and 08 per cent growth sequentially Despite the growth headwinds in the LCV truck segment persist due to the rising preference for preowned vehicles and competition from electric threewheelers the report saidThe medium and heavy commercial vehicle MampHCV sales saw a robust 92 per cent YoY increase despite recent demand dampening by prolonged monsoonsThe bus segment is projected to grow by 8 to 10 per cent buoyed by replacement demandPassenger vehicle sales declined in August compared to both the previous month and the same period last year as buyers postponed purchases in anticipation of potential GST reductions the report saidPassenger vehicle exports increased by 25 per cent in August and 15 per cent in the first five months of the fiscal yearSUVs maintained their dominance representing 65 t0 66 per cent of overall passenger vehicles volumeICRA said that the overall economic environment a resurgence in construction and mining and continued festive season demand are expected to support sales across automobile segments IANS https://dailyworld.in/business/indias-passenger-vehicle-sales-to-grow-14-pc-in-fy26-report-640667.html Sun, 28 Sep 2025 16:32:00 +0530 https://dailyworld.in/business/nil-gst-boost-lic-sees-rs-1-100-crore-inflows-on-first-day-of-life-insurance-relief-640675.html Mumbai Sep 28 Life Insurance Corporation of India LIC attracted strong investor interest on the first day after the government scrapped goods and services tax GST on individual traditional life insurance policies The insurer drew inflows of over Rs 1100 crore in a single day according to reportsThis development is significant as LIC usually receives around Rs 5000 crore of monthly premium income from retail policyholdersThe inflows seen on the very first day after the tax relief highlight the positive sentiment among policyholders and the potential boost for the insurance sectorIndustry experts said that the removal of GST has made traditional life insurance policies more affordable and attractive for individual buyers which is expected to push up sales in the coming monthsEarlier this financial year LIC had reported a steady rise in both profit and premium incomeThe company posted a consolidated net profit of Rs 10957 crore in the AprilJune quarter Q1 of FY26 a 391 per cent increase compared to the same period previous year 9Q1 FY25Its net premium income also grew by 47 per cent to Rs 119618 crore the insurer informed the exchangesLIC continues to maintain its leadership in the life insurance industry with a market share of over 63 per cent in firstyear premium incomeDuring the first quarter of this financial year our overall market share by First Year Premium Income was 6351 per cent and we maintained our leadership in both Individual and Group Business R Doraiswamy CEO and MD LIC said in an exchange filing dated August 7Key elements of our strategy like increase in NonPar share in Individual business increase in VNB margin increase in Banca share are fully on track Doraiswamy addedThe net profit of the company increased 5 per cent YoY on a standalone basis to Rs 1098651 crore IANS https://dailyworld.in/business/nil-gst-boost-lic-sees-rs-1-100-crore-inflows-on-first-day-of-life-insurance-relief-640675.html Sun, 28 Sep 2025 16:39:00 +0530 https://dailyworld.in/business/glenmark-granules-zydus-and-others-recall-medicines-in-us-over-quality-issues-usfda-640677.html New Delhi Sep 28 Several Indian pharmaceutical companies including Glenmark Granules India Sun Pharma Zydus and Unichem are recalling medicines from the US market according to the US Food and Drug Administration USFDA The recalls are related to manufacturing issues impurities and labelling errors according to the regulators latest Enforcement ReportGlenmark Pharmaceuticals is recalling 13824 tubes of Azelaic Acid Gel produced at its Goa plant due to complaints of gritty textureThe companys US arm initiated a Class II nationwide recall on September 17 Such recalls are made when the use of a product may cause temporary or reversible health issues though the risk of serious problems is considered lowGranules India is also recalling over 49000 bottles of a combination drug used for attention deficit hyperactivity disorder ADHDThe recall was initiated by its US arm on August 28 after the product failed impurity and degradation testsThis is a Class III recall which means the product is unlikely to cause harmSun Pharmas US subsidiary has recalled 1870 kits of a renal imaging agent following failed dissolution tests This Class II recall was announced on September 3Similarly Zydus Pharmaceuticals USA Inc part of Ahmedabadbased Zydus is recalling 8784 bottles of antiviral drug Entecavir tablets due to impurity and degradation concernsThe recall also classified as Class II was initiated on September 4 Unichem Pharmaceuticals USA Inc has issued a Class I recall for 230 bottles of medicine because of a label mixupThe company based in East Brunswick began the recall on August 27 A Class I recall is considered the most serious as it could lead to significant health risks if patients take the wrong medicineHowever India has the highest number of USFDAapproved pharmaceutical plants outside the United States IANS https://dailyworld.in/business/glenmark-granules-zydus-and-others-recall-medicines-in-us-over-quality-issues-usfda-640677.html Sun, 28 Sep 2025 16:42:00 +0530 https://dailyworld.in/business/haryana-cm-seeks-investments-by-japanese-companies--640691.html Chandigarh Sep 28 IANS Haryana Chief Minister Nayab Singh Saini on Sunday held a meeting with top functionaries of Japanese companies in Gurugram inviting them to make investments in the statenbspOn the occasion a memorandum of understanding MoU was also signed with Honda Company for construction and demolition waste managementnbspUnder this agreement the state government will provide land and waste for setting up the plant while Honda will manufacture tiles from the wasteThe Chief Minister is likely to visit Japan from October 6 to 8 during which he will visit the Haryana PavilionnbspAs part of this Chief Minister Saini held discussions with senior officers of major Japanese companies operating in the state to boost investment an official statement saidnbspHe also discussed the establishment of a dedicated cluster for Japanese companies in Haryana and invited them to set up this cluster in NarayangarhnbspCM Saini said Narayangarh is strategically located close to Chandigarh Uttar Pradesh Uttarakhand and Punjab at a distance of only 40 to 45 km which will significantly boost tradeDiscussing water supply facilities in Manesar the Chief Minister said the detailed project report DPR has been prepared and work will commence soon after tenderingnbspA budget provision of around Rs 3000 crore has been made to ensure water availability in Manesar through a pipeline from the Munak CanalnbspThis arrangement has been planned keeping in view the expected population growth for 25 to 30 years to ensure there will be no water scarcitynbspChief Minister Saini emphasised the proper treatment of chemical water discharged by industrial units and encouraged the adoption of advanced technologiesIndustries should recycle and reuse their wastewater for which a plan has been prepared through Haryana State Industrial and Infrastructure Development CorporationnbspIn the first phase this system will be implemented in Manesar at a cost of around Rs 78 crore enabling industries to reuse waternbspThe Chief Minister stressed the importance of utilising corporate social responsibility CSR funds for meaningful development worksnbspHe said that CSR funds should be spent through the Deputy Commissioner to ensure their optimum utilisation and maximum benefit to the people https://dailyworld.in/business/haryana-cm-seeks-investments-by-japanese-companies--640691.html Sun, 28 Sep 2025 18:57:00 +0530 https://dailyworld.in/business/trump-asks-microsoft-to-fire-global-affairs-head-lisa-monaco-640540.html New Delhi Sep 27 US President Donald Trump urged Microsoft Corp to dismiss its Head of Global Affairs Lisa Monaco labelling her as corrupt deranged and a menace to US national security On President Trumps social media account Truth Social he claimed that Monacos senior position at Microsoft a company with significant government contracts provides her access to sensitive information that he believes she cannot be trusted to handleTrump wrote that hes already stripped Monaco of security clearances and prohibited her from accessing federal propertiesAfter successfully manipulating Intel CEO LipBu Tan and eventually failing to cancel Jimmy Kimmel President Donald Trump has named his next target for retribution Microsoft head of global affairs Lisa Monaco said a report from VergeMonaco took the job in May at Microsoft and is since leading the companys global government engagements following a long career in public serviceShe served as the 39th deputy attorney general under former US President Joe Biden and AG Merrick Garland which seems her biggest crime in Trumps eyes the report saidIts not clear why Trump took this moment to go after Monaco but he may be just now becoming aware of her role at Microsoft the report addedThe report also hinted that Microsoft has not exactly been in Trumps crosshairs but the company recently reduced the scope of its cooperation with the Israeli military as it performs mass surveillance of Palestinian civiliansUS tech firms like Microsoft are reportedly unhappy about the recent H1B visa guidelinesMicrosoft had earlier this month advised employees with H1B and H4 visas who are currently outside the US to return immediately ahead of the September 21 deadline set by Trump when the 100000 fee on H1B visas comes into effect IANS https://dailyworld.in/business/trump-asks-microsoft-to-fire-global-affairs-head-lisa-monaco-640540.html Sat, 27 Sep 2025 17:03:00 +0530 https://dailyworld.in/business/uae-regulator-bars-hdfc-banks-dubai-branch-from-onboarding-new-clients-640547.html New Delhi Sep 27 HDFC Bank has informed that its branch in Dubai International Financial Centre namely DIFC branch has received a decision notice from the Dubai Financial Services Authority DFSA restricting it from onboarding or soliciting new clients Further DIFC has also been banned from soliciting onboarding or engaging in any financial promotions with any new client the HDFC Bank informed in an exchange filingAccording to the notice the DIFC branch has been prohibited from engaging in financial services for new clients including advising on financial products arranging deals in investments arranging credit and providing custody servicesThe regulator highlighted concerns regarding the branchs practices around financial services provided to customers not fully onboarded and issues linked to its onboarding processThe Bank has already initiated necessary steps to comply with the directives in the abovereferred notice and is committed to work with the DFSA in its ongoing investigation and to promptly remediate and address the DFSA concerns at the earliest the filing saidThe restrictions however do not impact existing customers or clients who were previously offered financial services but had not yet been onboarded The DFSA order will remain effective until it is amended or revoked in writingAs on September 23 2025 the DIFC Branch has 1489 customers onboarded including joint holdersThe regulatory action comes in the backdrop of a twoyearold controversy regarding the alleged misselling of highrisk Credit Suisse additional tier1 AT1 bonds Investors had accused the bank of pushing the products through its UAE operations which included advisory from DIFC officials relationship management by staff at its Dubai representative office and account booking with its Bahrain branchInvestigations were done on whether clients were properly onboarded in DIFC a jurisdiction with separate financial rules and a stricter framework for professional clients Several nonresident Indian investors incurred heavy losses and faced margin calls on leveraged positions when the AT1 bonds were written down in 2023 during Credit Suisses collapse IANS https://dailyworld.in/business/uae-regulator-bars-hdfc-banks-dubai-branch-from-onboarding-new-clients-640547.html Sat, 27 Sep 2025 17:08:00 +0530 https://dailyworld.in/business/mous-worth-over-rs-1-lakh-crore-signed-at-world-food-india-640556.html New Delhi Sep 27 Twentyone companies have signed memoranda of understanding MoU on the second day of World Food India 2025 bringing the total value of agreements at the event to over Rs 1 lakh crore for investments the government said on Saturday Investments worth more than Rs 25000 crore were committed by these 21 companies an official statement saidThe second day of the summit at Bharat Mandapam saw participation from global regulators industry leaders startups and policymakers with dialogues focussing on sustainability technology investment and international partnershipsThe Ministry of Food Processing Industries held 13 sessions focused on the events five pillars addressing key topics such as pet food nutraceuticals speciality foods alcoholic beverages and plantbased foodsThe day involved sessions from partners and focus states including Uttar Pradesh Gujarat Punjab Jharkhand and Bihar along with delegations from New Zealand Vietnam Japan and Russia the statement saidDiscussions were also hosted by the Ministry of Agriculture and Farmers Welfare the Ministry of AYUSH the Agricultural and Processed Food Products Export Development Authority and the World BankAs part of the summit key governmenttogovernment meetings were held with international counterparts of Russia and Portugal to strengthen cooperation in agriculture and food processing the statement saidThe third Global Food Regulators Summit organised by the Food Safety and Standards Authority of India FSSAI was also held on the sidelines focusing on a unique platform for global regulators to discuss harmonisation of food safety standards and strengthen regulatory cooperationSimultaneously the 24th India International Seafood Show hosted by the Seafood Exporters Association of India showcased the countrys growing seafood export potential and global market linkagesIndia possesses a triple strength of diversity demand and scale Prime Minister Narendra Modi said on Thursday at the World Food India 2025 eventPM Modi also underscored that this strong domestic demand gives India a competitive edge and makes it a preferred destination for investors IANS https://dailyworld.in/business/mous-worth-over-rs-1-lakh-crore-signed-at-world-food-india-640556.html Sat, 27 Sep 2025 17:17:00 +0530 https://dailyworld.in/business/india-to-power-global-hydrogen-transition-hardeep-puri-640563.html New Delhi Sep 27 Indias hydrogen era has begun as the nation targets 5 million metric tonnes MMT of green hydrogen production per year by 2030 Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said on Saturday This led to the cost of green hydrogen dropping from 350 per kilogram kg to 3 per kg unlocking 150 billion in savings on importsThe union minister in a post on X informed that public sector units PSUs are planning to achieve a 1 MMT capacity by 2030 and tenders for 42 kilo tonnes per annum KTPA will rise to 170 KTPAPuri emphasised that India is moving forward to capture 10 per cent of the global hydrogen market under Prime Minister Narendra Modis leadership Green hydrogen projects of around 900 KTPA capacity have already been awarded to 19 companies he addedIn a separate X post the minister said India sits at the heart of the global energy equation as the worlds thirdlargest energy consumer thirdlargest crude importer and fourthlargest refinerWith 6518 million metric tonne MMT of recoverable crude oil and 11386 billion cubic meter BCM of recoverable natural gas the nation is poised to unlock hidden energy opportunities Puri saidThe nation is committed to largescale investments fiscal incentives and policy simplification to catalyse upstream activity he addedAccording to the Petroleum Minister the last decade has seen bold reforms transitioning from a new exploration licensing policy NELP to a hydrocarbon exploration and licensing policy HELP from a production sharing regime to a revenue sharing regime launching open acreage licensing policy OALP roundsThe OALP Round X was the single largest bid round with acreage offered 192 lakh sq kmOur efforts have delivered strong results Investments of Rs 14 lakh crore in exploration and production EampP have driven major progress with 578 wells drilled in FY25 ONGCs highest in 35 years and over 5000 exploratory and development wells including robust offshore programmes the minister noted IANS https://dailyworld.in/business/india-to-power-global-hydrogen-transition-hardeep-puri-640563.html Sat, 27 Sep 2025 17:24:00 +0530 https://dailyworld.in/business/decarbonising-indias-cooking-sector-key-to-achieve-net-zero-goal-by-2070-640564.html New Delhi Sep 27 Decarbonising Indias cooking sector is crucial to achieve net zero goal by 2070 said experts here Speaking at an event hosted by Chintan Research Foundation CRF as part of the Modern Energy Cooking Forum MECF 2025 the experts recognised the urgency particularly in the context of Indias NetZero goalIndia has been promoting the use of Liquefied Petroleum Gas LPG Piped Natural Gas PNG Biogas CBG and more recently electric cooking primarily to reduce household air pollutionHowever greenhouse gas emissions from cooking have not received due attention despite being comparable to those of the aviation and shipping sectorsDr Debajit Palit Centre Head Climate Change and Energy Transition CRF underscored the need for decarbonising the cooking sectorThe future lies in enabling a multifuel roadmap that scales renewable energybased electric cooking technologies while integrating complementary solutions such as compressed biogas blending decentralised renewables and electricity tariff reforms Palit saidDuring the session panellists emphasised that policy clarity innovative financing models and technological synergies are crucial to unlocking the potential of electric cooking in IndiaAlok Kumar Director General All India DISCOM Association and Former Power Secretary stressed that electric cooking must be integrated into Indias energy policy with tariffs reflecting grid system costsLinking this to the larger agenda of grid decarbonisation he identified three priorities for accelerating the transition towards a greener grid rapid digitalisation of grid operations through programmes like smart meter rollouts integration of overall system and network costs and integration of gridscale storage solutionsIntegration of electric cooking in Indias energy policy will provide the required vision and direction to the sector Kumar saidFurther Nidhi Sarin Director Energy Transitions Global Energy Alliance for People and Planet pointed out that integrating storage with renewable energy can enhance grid stability and open opportunities for institutional cookingShe also advocated for centralised procurement and pooling of electric cooking appliances thereby lowering costs and ensuring accessibilityCooking solutions must be customised to Indian kitchens and cultural practices Nidhi Sarin Director Energy Transitions Global Energy Alliance for People and PlanetJeevan Kumar Jethani Senior Director Ministry of New and Renewable Energy drew attention to the role of decentralised renewable energy systems in enabling rural households to adopt electric cookingHe pointed to schemes such as PMKUSUM and PM Surya Ghar as natural allies in this transition offering a costeffective and scalable pathway to clean cooking in rural areasDr Umish Srivastava Executive Director RampD Indian Oil Corporation reflected on IOCLs experience in developing Surya Nutan Indias pioneering solar cook stoveHe acknowledged the cost and behavioural barriers to adoption but also underscored that decarbonising cooking represents a lowhanging fruit achievable at a fraction of the cost compared to sectors such as aviation making it an opportunity India cannot afford to overlookDecarbonising Indias Cooking Sector can be done at a fraction of the cost compared to sectors such as aviation and shipping SrivastavaTogether the panellists insights underlined that while challenges persist the convergence of policy reforms technological innovation and decentralised solutions can transform Indias cooking sector into a cornerstone of its clean energy transitionThe panellists also released an Issue Brief titled Decarbonising Indias Cooking Sector authored by researchers from CRF and Finovista IANS https://dailyworld.in/business/decarbonising-indias-cooking-sector-key-to-achieve-net-zero-goal-by-2070-640564.html Sat, 27 Sep 2025 17:25:00 +0530 https://dailyworld.in/business/govts-new-logistics-plan-aids-in-supply-chain-efficiency-achieving-sustainability-goals-640565.html New Delhi Sep 27 The recently approved Integrated State and City Logistics Plan will help achieve Indias sustainability goals through the adoption of low and zeroemission vehicles and the establishment of lowemission freight zones reports have said The government launched the plan in collaboration with the Asian Development Bank ADB in eight cities across eight states which will focus on evaluating existing logistics infrastructure identifying bottlenecks and preparing a roadmap for improvementThe Centre has chosen Ludhiana Shimla Jaipur Indore Patna Visakhapatnam Bhubaneswar and Guwahati to develop integrated state and city logistics plans as part of a programme led by the Department for Promotion of Industry and Internal Trade DPIIT according to reportsThe logistics planners will prioritise freight demands from local retailers and ecommerce players focusing on truck terminals urban roads and efficient lastmile delivery systemsAccording to officials these plans will later be replicated across the country to ensure seamless goods movement and stronger supply chain resilienceThe Asian Development Bank is offering technical support to align statelevel logistics strategies with city freight networks and broader mobility goalsOfficials said that the dual focus on connecting growth hubs to major trunk routes at the state level and upgrading urban freight systems at the city level will enhance supply chain efficiencySustainability measures being considered include the adoption of low and zeroemission vehicles for lastmile delivery and implementation of noisereduction measuresDPIIT highlighted the importance of automation and datadriven decisionmaking in improving operational efficiency cutting costs and ensuring transparency in freight movementThe planning for the project will take 6 to 8 months a DPIIT official had informed adding that if the plans are approved the government may seek other support from the ADB for implementation IANS https://dailyworld.in/business/govts-new-logistics-plan-aids-in-supply-chain-efficiency-achieving-sustainability-goals-640565.html Sat, 27 Sep 2025 17:26:00 +0530 https://dailyworld.in/business/indias-task-is-to-transform-global-south-from-rule-takers-to-rule-shapers-640570.html New Delhi Sep 27 When it comes to Global South Indias task is not to replace one hegemony with another but to build a cooperative framework where Southern producers shippers and regulators gain dignity and competitiveness a report has said adding that by blending reaction with initiative contesting unfair measures while advancing corridors in shipping warehousing finance and capacity the South can transform from ruletakers to ruleshapers When rules are matched by rails digital green and maritime the South is no longer walking someone elses path It is drawing its own mapThat is the playbook India must now carry to every platform of the Global Southfrom BRICS to IORA from BIMSTEC to the IndiaAfrica Forum Summit The time to lead is now according to the report by India NarrativeAccording to the report for India which has emerged as the most credible voice of the Global South the challenge is clearIf we merely react to these pressures we risk being boxed into lowvalue corners of the supply chain If we lead with initiative however we can turn defensive compliance into strategic competitiveness This is the playbook the South needsand India is positioned to draft it the report further statedA trade corridor is not just a shipping lane or a stretch of road It is a deliberate programme upgraded ports and railways redesigned border posts simplified digital platforms that replace paperwork and harmonised product standardsIf designed around Southern comparative advantages such corridors can unlock value chains that reflect local priorities rather than external diktats the report mentionedFrom a millets corridor connecting Eastern Africa and Western India to a green shipping microcorridor between two midsized Southern ports the outcomes are measurable faster turnaround lower freight costs reduced carbon footprintsIf production is the visible part of trade shipping and warehousing are the invisible backbone They decide whether goods reach markets competitively or languish at bottlenecks according to the reportMoreover infrastructure alone does not move goods people do That is why capacity building must be the accelerator of SouthSouth cooperationThe Global South faces a choice We can remain passive adjusting endlessly to rules written elsewhere Or we can chart our own course designing corridors systems and standards that reflect our realities and ambitions the report highlighted IANS https://dailyworld.in/business/indias-task-is-to-transform-global-south-from-rule-takers-to-rule-shapers-640570.html Sat, 27 Sep 2025 17:30:00 +0530 https://dailyworld.in/business/us-pharma-tariff-vaiko-warns-of-economic-war-seeks-special-parliament-session-640571.html Chennai Sep 27 Marumalarchi Dravida Munnetra Kazhagam MDMK general secretary Vaiko has warned that the United States latest decision to impose a steep 100 per cent import duty on medicines could deal a severe blow to Indias pharmaceutical exports and trigger a wider trade crisis Quoting data from the World Trade Organization WTO Vaiko said pharmaceuticals form Indias single largest industrial export segmentEach year India ships about 127 billion worth of medicines to the US the bulk of which are generic drugsGenerics are copies of patented medicines whose 20year exclusive rights have expired enabling any qualified company to manufacture and sell themWhile India also exports patented and branded drugs their volume is far lower compared to generics Indian firms such as Dr Reddys Lupin and Sun Pharma are among the biggest suppliers to the US market But President Donald Trump has now announced that from October 1 all medicines imported from companies without manufacturing plants in America will face a 100 per cent tariffThe White House indicated that firms setting up production in the US could avoid the levyThis move directly targets Indias pharmaceutical industry Vaiko said noting that last year Indian companies exported medicines worth Rs 31000 crore to the US and in just the first half of this year shipments had already crossed Rs 32000 crore The new duty threatens to sharply reduce competitiveness and cut deep into Indias foreign exchange earningsThe latest tariff comes on top of an earlier 25 per cent duty Washington had imposed after India continued importing crude oil from Russia despite US pressure That had already raised the effective import tax on Indian products entering the US to about 50 per centAdditional tariffs on other goods 50 per cent on kitchen and bathroom fittings 30 per cent on furniture and 25 per cent on heavy trucks have added to the strainCalling it an economic war against India Vaiko urged the Union government to act swiftlyThe Centre must immediately convene a special session of Parliament to discuss the US sanctions and find solutions to protect Indian exporters and jobs he said adding that New Delhi should engage Washington diplomatically while safeguarding national trade interests IANS https://dailyworld.in/business/us-pharma-tariff-vaiko-warns-of-economic-war-seeks-special-parliament-session-640571.html Sat, 27 Sep 2025 17:31:00 +0530 https://dailyworld.in/business/bsnls-intelligent-swadeshi-4g-network-to-connect-26-700-villages-with-high-speed-internet-640579.html New Delhi Sep 27 Bharat Sanchar Nigam Limited BSNL on Saturday launched the Bharat Telecom Stack or intelligent Swadesh 4G Network which will connect over 26700 villages with highspeed internet connectivity for the first time BSNL unveiled the network which is a modern and secure solution designed and developed entirely in India in collaboration with Tata Consultancy Services TCS Centre for Development of Telematics CDOT and Tejas Networks LimitedWith this launch India becomes the fifth country in the world to have built a selfreliant indigenous telecom technology stack supporting 4G and beyondAs a mission mode program TCS spearheaded its execution by establishing data centres installing and commissioning CDOTs EPC Core Application Tejass Base Stations and Radio infrastructure over 100000 sites and leveraging TCS Cognitive Network Operations TCS CNOPSTM platform for 24x7 realtime network management TCS said in a statementOver 22 crore citizens will now have access to 4G data at affordable prices Additionally people in rural areas can now have services like digital learning smarter farming tools and 24x7 telemedicineToday we celebrate a monumental achievement for national pride The nationwide rollout of our indigenous 4G network built on the strength of collaboration with TCS Tejas Networks and CDOT is a resounding declaration of an Atmanirbhar Bharat said A Robert J Ravi CMD BSNLThis initiative draws inspiration from Prime Minister Narendra Modis vision of a digitally connected and selfreliant IndiaWe are proud that we have put India on the map of only a handful of countries to have developed a comprehensive trusted and software upgradable telecom technology stack The successful deployment at BSNL is historic and significant in ushering the benefits of a powerful data and voice network to all corners of the country said N Ganapathy Subramaniam AdvisorTelecom Strategic Initiatives at TCS and Chairman Tejas NetworksIt once again reflects TCSs commitment to building Indias digital infrastructure and continuously supporting the countrys digital aspirations Subramaniam said IANS https://dailyworld.in/business/bsnls-intelligent-swadeshi-4g-network-to-connect-26-700-villages-with-high-speed-internet-640579.html Sat, 27 Sep 2025 17:38:00 +0530 https://dailyworld.in/business/mumbai-ahmedabad-bullet-train-to-be-fully-operational-by-2029-ashwini-vaishnaw-640584.html New Delhi Sep 27 The MumbaiAhmedabad bullet train will be operational by 2029 and the 50km stretch of Indias first highspeed rail corridor between Surat and Bilimora in Gujarat is expected to open by 2027 Union Railways Minister Ashwini Vaishnaw said on Saturday Vaishnaw inspected the underconstruction Surat station including track installation and the first turnout According to him people will be able to cover the distance between Mumbai and Ahmedabad in two hours and seven minutes on the bullet trains against nine hours as shown on the Google MapsOverall progress of the first bullet train project is very good The first 50 km section between Surat and Bilimora will be open by 2027 By 2028 the ThaneAhmedabad section will be commissioned and by 2029 the full MumbaiAhmedabad line will open the minister saidVaishnaw highlighted the use of modern technology to ensure safety including vibration absorption mechanisms along the track and special safety features to handle high winds and earthquakesHeavy construction work at Surat station is complete with finishing and utility work ongoing alongside track linking the minister said The first turnout where tracks converge or diverge has been installed with advanced technologies including roller bearings and composite sleepersThe main line is designed for speeds up to 320 kilometres per hour while the loop line will operate at 80 kilometres per hour The services are designed such that a train will depart every half an hour during the morning and evening peak hours Once the entire network stabilises there will be a train every 10 minutes during peak hours the minister had earlier saidThe project is expected to integrate the economies of major cities along the corridor and spur regional growth similar to Japans growth story after its highspeed railThe 508 kmlong MumbaiAhmedabad highspeed rail corridor is Indias first bullet train project The minister also indicated plans for four additional bullet train corridors in other regions of the country as outlined in the BJP manifesto IANS https://dailyworld.in/business/mumbai-ahmedabad-bullet-train-to-be-fully-operational-by-2029-ashwini-vaishnaw-640584.html Sat, 27 Sep 2025 17:44:00 +0530 https://dailyworld.in/business/government-invites-comments-on-draft-of-indian-statistical-institute-bill-2025-640587.html New Delhi Sep 27 The Ministry of Statistics and Programme Implementation MoSPI on Saturday said it has released the draft Indian Statistical Institute Bill 2025 for public consultation from September 25 The ministry has invited comments and suggestions from all stakeholders and the general public as part of the prelegislative consultation processAs the Indian Statistical Institute ISI approaches its centenary in 2031 the proposed draft Bill is founded upon the guiding principles including excellence effective governance autonomy and accountabilityThe ISI was founded in December 1931 and has since grown into one of Indias most prestigious academic and research institutionsIn recognition of its national contribution Parliament enacted the Indian Statistical Institute Act 1959 declaring ISI an Institution of National Importance INICurrently ISI offers undergraduate and postgraduate degree programmes in statistics mathematics quantitative economics computer science library and information Science cryptology and security quality management science and operations ResearchIt also conducts research programmes diplomas and certificate coursesWith about 1200 students across its centres ISI plays a key role in advancing Indias leadership in statistical sciences and allied fieldsOver the years four Review Committees have examined the functioning of ISIThe most recent chaired by Dr RA Mashelkar in 2020 recommended major reforms to strengthen governance expand academic programmes and make ISI globally competitiveThe Committee recommended that ISI must reimagine reinvent and reposition itself to regain its leadership position and remain relevant in changing times as it reaches its centenary year in 2031To address the issue a new legislation for ISI by upscaling the existing Act to the level of other existing INI legislations is being proposed putting in place a revamped governance structure making the Board of Governance a leaner and more empowered body for policy administrative and financial matters the ministry saidThe draft Bill and the prescribed format for sending comments are available on the ministrys website Suggestions may be sent by October 24 IANS https://dailyworld.in/business/government-invites-comments-on-draft-of-indian-statistical-institute-bill-2025-640587.html Sat, 27 Sep 2025 17:48:00 +0530 https://dailyworld.in/business/100-day-swachh-shehar-jodi-initiative-launched-to-improve-urban-waste-management-640591.html New Delhi Sep 27 Housing and Urban Affairs Minister Manohar Lal launched the Swachh Shehar Jodi SSJ initiative for handholding 200 cities in urban waste management an official statement said on Saturday SSJ pairs 72 topperforming mentor cities with approximately 200 lowranking mentee cities in a structured mentorship frameworkThe SSJ initiative represents one of the largest timebound and structured mentorship frameworks in the urban waste management sector aiming to foster knowledge and experience sharing peer learning and transforming best practices in sanitation and waste management across urban India the statement saidThe SSJ initiative officially pairs the mentor with mentee cities that will get direct exposure to wellperforming cities to replicate their best practicesState urban development ministers mayors commissioners and senior officials gathered at a national event in Sonipat to sign memoranda of understanding for the sanitation and waste management program to be conducted over the next 100 daysDuring this period each mentormentee pair will collaboratively develop action plans with clearly defined milestones focusing on experience sharing and knowledge transfer the release addedSSJ is a dynamic platform for knowledgesharing mentoring and handholding The aim is clear that every mentee city should improve their swachhata outcome by learning from the best cities said S Katikithala Secretary MoHUAThe Ministry of Housing and Urban Affairs will provide strategic direction and policylevel support to ensure effective implementation of the Swachh Shehar Jodi across states This is being supported under the capacity building initiative of the Swachh Bharat Mission the ministry saidNearly 300 MoUs were signed across the nation leading to the creation of a dynamic platform for knowledgesharing mentoring and handholding which will be evaluated in the Swachh Survekshan 2026 survey the release noted IANS https://dailyworld.in/business/100-day-swachh-shehar-jodi-initiative-launched-to-improve-urban-waste-management-640591.html Sat, 27 Sep 2025 17:52:00 +0530 https://dailyworld.in/business/gautam-adani-calls-upon-young-entrepreneurs-to-shape-indias-second-freedom-struggle-640315.html Ahmedabad Sep 25 IANS Gautam Adani Chairman of the Adani Group on Thursday touched upon the role of young entrepreneurs in shaping what he called Indias second freedom struggle a fight not for independence from foreign rule but for independence in technology and social innovation that uplifts every community bridges divides and strengthens the fabric of democracynbspIn his address at the fourth edition of Adani Green Talks hosted here Gautam Adani said we have to join our nations second freedom struggle freedom from inequality freedom from inertia and freedom from indifferenceAnd that freedom to dream boldly my friends is what Green Talks is all about Built on the belief that every fresh idea contains the blueprint for transformation It reminds us that growth is not linear it is unpredictable and often invisible the billionaire industrialist saidnbspThat is until suddenly a green shoot breaks through the surface announcing a new chapter of freedom and hope And within that tender green shoot is embedded the essence of every great dream that has gone on to create history the Adani Group Chairman notedIn just three editions of Green Talks hundreds of dreams have been evaluated and 15 remarkable companies have shared their visions on the stagenbspIn a world where nine out of ten startups fade it has been fascinating to see how many of our dreamers have already beaten the odds said Gautam AdaninbspHe further stated that as an entrepreneur I know firsthand what it means to dream After all it is only the dreamers who dare to leave marks that even history cannot erase But even within the many entrepreneurs I meet those that humble me the most are the social entrepreneurs They begin not in search of fortune but in search of to build a better societyGautam Adani said that the eventual objective is to make Green Talks more than a stagenbspIt should become a living platform of collaboration where Indias innovation meets the worlds imagination A place where social startups spark ideas unite in purpose and work for the betterment of humanity It should be an ecosystem where every participant is bound not by transactions but by a shared mission to grow with goodness to leave behind a brighter more sustainable world the Adani Group Chairman emphasised https://dailyworld.in/business/gautam-adani-calls-upon-young-entrepreneurs-to-shape-indias-second-freedom-struggle-640315.html Thu, 25 Sep 2025 17:39:00 +0530 https://dailyworld.in/business/mcx-gold-opens-slightly-lower-silver-rebounds-031-pc-640342.html New Delhi Sep 25 Gold on the MultiCommodity Exchange of India opened slightly lower on Thursday tracking global prices as investors awaited US economic data for guidance on the Federal Reserve policy MCX gold rate for December expiry declined Rs 122 or 011 per cent at Rs 113525 per 10 grams down from Wednesdays close of Rs 113647The MCX silver opened lower by approximately Rs 1000 per kg but rebounded quickly by 031 per cent to Rs 134415 per kg as of 915 AMThe price of 24carat gold 1 gram was at Rs 11358 at 1010 AM according to data published by the India Bullion and Jewellers Association IBJASpot gold in international markets remained near 3734 an ounce while US gold futures for December traded around 3765 as the dollar index fell approximately 01 per centMeanwhile analysts say that bullion continues to receive support from robust central bank purchases and sustained inflows into ETFs and that the MCX October gold futures may decline to Rs 112000 if global trends weakenThe Fed Chairs cautious remarks on inflation labour market and future rate cuts could act as a cap on bullions gainsThe PBoC is leveraging the Shanghai Gold Exchange to encourage central banks from friendly nations to purchase and store bullion within its borders On data front US housing numbers were reported better than expectations weighing on prices said Manav Modi Analyst Precious Metal Research Motilal Oswal Financial Services LtdTraders are waiting for cues from US economic data to gain further insights into Federal Reserve policy such as US GDP Inflation and durable goods orders data he addedAdditionally geopolitical tensions boosted demand for the safehaven metal as NATO warned Russia it would use all necessary military and nonmilitary measures to defend itself while US President Donald Trump said Ukraine could reclaim all territory held by Russia IANS https://dailyworld.in/business/mcx-gold-opens-slightly-lower-silver-rebounds-031-pc-640342.html Thu, 25 Sep 2025 20:16:00 +0530 https://dailyworld.in/business/tata-motors-shares-dip-3-pc-as-2-billion-loss-from-jlr-cyberattack-may-exceed-fy25-profit-640345.html New Delhi Sep 25 Shares of Tata Motors fell around 299 per cent in early trading on Thursday following reports that Jaguar Land Rover JLR its British subsidiary could incur a potential uninsured loss of approximately 2 billion due to a cyberattack that disrupted production The impact could surpass JLRs total profit from the last fiscal year said a report from The Financial TimesJLR had not finalised a cyber insurance policy brokered by Lockton potentially leaving the automaker uninsured for the attack according to multiple media reportsThe cyberattack which occurred on September 2 has forced the company to repeatedly push back its production scheduleJLR announced it will extend factory closures until October 1 while addressing global IT issues and preparing for a phased restart of operationsWe are working at pace to resolve global IT issues impacting our business We will provide an update as appropriate in due course Tata Motors said in a statement earlier this monthThe companys three UK plants in Solihull Halewood and Wolverhampton used to produce approximately 1000 cars daily with reports estimating losses of around 50 million per week due to the plants being shut downJLR is carrying out a forensic investigation into the cyberattack and has said that operations will restart gradually in a controlled mannerDuring FY25 Jaguar Land Rover contributed 72 per cent to Tata Motors total automotive revenue higher than its contribution in FY24 indicating stronger growth at JLR compared to Tatas domestic vehicle segmentMeanwhile in India Tata Motors recorded approximately 10000 car deliveries and over 25000 enquiries on the first day of Navaratri marking a strong start to the festive season Over the past year Tata Motors shares dipped Rs 30090 a decline of 3123 per cent IANS https://dailyworld.in/business/tata-motors-shares-dip-3-pc-as-2-billion-loss-from-jlr-cyberattack-may-exceed-fy25-profit-640345.html Thu, 25 Sep 2025 20:20:00 +0530 https://dailyworld.in/business/delhi-ncr-emerges-as-largest-third-party-leasing-hub-in-india-report-640358.html New Delhi Sep 25 DelhiNCR has emerged as the largest thirdparty logistics 3PL hub in the country accounting for 25 per cent of total leasing activity by the industrial and logistics IampL sector since 2021 a report said on Thursday It is closely followed by Mumbai with a 24 per cent share and Bengaluru at 16 per centThe top six cities including Chennai Kolkata and Hyderabad represented nearly 70 per cent of the total 3PL leasing activity between 2021 and in the first half this year H1 2025 CBRE said in its report3PL players handle the complete supply chain and logistics operations of their clients allowing them to focus on their core businessThese companies have positioned themselves as the largest demand drivers for the countrys logistics real estate marketAccording to the report they accounted for 4050 per cent of the sectors total leasing activity between 2021 and 2024 In H1 2025 they garnered a share of more than 30 per centDelhiNCRs strategic location robust infrastructure and thriving ecommerce sector have made it an important hub for the industrial amp logistics sector said Anshuman Magazine Chairman and CEO India SouthEast Asia Middle East and Africa CBREHowever TierII and III cities are also emerging as new growth hubs The rising consumption in these cities coupled with lower land costs is likely to encourage more 3PL firms to expand beyond metros and build localised hubs closer to centres of consumption he addedThe report noted a rising preference to remain asset light with over 60 per cent of surveyed Indiabased 3PL firms stating they would opt for a space in multitenanted buildings over the next 24 months rather than building their own facilitiesThis is followed by buildtosuit development 28 per cent and purchasing existing assets 22 per centThere is also a clear shift towards futureready warehousing solutions to support rapid business growth and competitivenessAs per the report around 76 per cent of the surveyed 3PL companies are now adopting warehouse management software in their logistics operationsFurthermore 3PL entities are also increasingly adopting technologies such as Internet of Things IoT sensors conveyor and sortation systems and GoodstoPerson picking systems reflecting a broader shift toward intelligent automated warehousesDuring 2021H1 2025 3PL firms were the primary drivers of bigbox leasing over 100000 sq ft in India in terms of value and volumeThis reflects the growing need for scalable futureready warehousing solutions to meet the surge in demand from ecommerce retail and manufacturingRam Chandnani Managing Director Leasing Services CBRE India said This strategy helps the companies to scale faster and lower their costs 3PL players want to expand rapidly to match the demand arising from the growth of ecommerce and quick commerce along with the infrastructure push from the government IANS https://dailyworld.in/business/delhi-ncr-emerges-as-largest-third-party-leasing-hub-in-india-report-640358.html Thu, 25 Sep 2025 20:32:00 +0530 https://dailyworld.in/business/h-1b-visa-fee-hike-to-cut-indian-it-firms-margins-by-just-10-20-bps-revenue-to-grow-2-4-pc-640359.html New Delhi Sep 25 The US governments decision to impose a 1 million fee on new H1B visas for foreign workers will likely reduce the operating margins of Indian IT services companies by only 10 to 20 basis points next fiscal year with firms likely passing some costs to clients a report said on Thursday Indias leading IT exporters with operating margins of around 22 per cent last fiscal year are expected to pass on 30 to 70 per cent of the incremental costs to customers a report from research firm Crisil Intelligence saidIndias IT services industry is expected to reel in 143145 billion this fiscal year marking a revenue growth of 24 per cent over last fiscal year followed by a year of marginal or flat growth the report saidThe US government clarified that the directive effective September 21 2025 does not apply to current H1B holders or renewals minimising its immediate effectThe reliance of IT companies on H1B visas has been decreasing over the past few years as firms expanded offshore delivery opened nearshore centres and hired locally in the USThe number of Indian employees on H1B visas working for TCS Infosys Wipro and HCL Technologies almost halved from 34507 to 17997 between 2017 and 2025 according to government dataEmployee cost accounted for 5557 per cent of sales of Indias IT companies last fiscal year while visa expenses totalled 002 per cent005 per cent of the total employee cost with H1B visa fees ranging between 2000 and 5000 per personIf the current trend in the job market prevails the new fee structure could crank up visa cost to 10 per cent of total employee cost ICRA projectedTier1 IT companies such as TCS Infosys Wipro and HCL generate 96 per cent of their revenue from international markets with the US alone accounting for 53 per centIndia remained the top recipient of remittances at 1187 billion in fiscal 2024 about 23 per cent of that coming from the US IANS https://dailyworld.in/business/h-1b-visa-fee-hike-to-cut-indian-it-firms-margins-by-just-10-20-bps-revenue-to-grow-2-4-pc-640359.html Thu, 25 Sep 2025 20:33:00 +0530 https://dailyworld.in/business/vande-bharat-train-to-begin-operations-from-bikaner-to-delhi-cantt-inaugural-run-today-640360.html Jaipur Sep 25 Rajasthan is all set to get another Vande Bharat Express on Thursday this time connecting Bikaner to Delhi Cantt The semihighspeed train will make its inaugural run but the journey is reserved exclusively for guestsGeneral passengers will be able to travel on the route starting Sunday for which bookings have already begunPrime Minister Narendra Modi will flag off the train virtually from Banswara while in Bikaner Union Minister and local MP Arjun Ram Meghwal will lead the event alongside senior railway officialsMLAs from Bikaner East and West have also been invitedAccording to Divisional Railway Manager Gaurav Govil the inaugural journey will begin at 130 pm departing from Bikaner The train will halt at six stations Sridungargarh Ratangarh Churu Loharu and Mahendragarh While the stoppage at Churu will be five minutes the other stations will have short halts of only two minutesFrom September 28 onwards the train will operate daily for passengers The schedule has been finalised the train will leave Bikaner at 540 am and reach Delhi Cantt by 1155 am On the return route it will depart Delhi Cantt at 645 pm and arrive in Bikaner at 805 pmThe new service offers 400 chair car seats and 40 executive chair car seats providing faster and more comfortable travel between Rajasthan and the national capitalInterestingly the rake assigned for this route has been changed Initially a saffroncolored Vande Bharat train was dispatched to Bikaner but was later sent to JodhpurIn its place the white rake from Jodhpur will now be permanently deployed on the BikanerDelhi Cantt routeWith this launch Rajasthan will have its fifth operational Vande Bharat Express strengthening rail connectivity within the state and with DelhiRailway officials say the new service will significantly reduce travel time and improve convenience for daily commuters as well as longdistance travellers IANS https://dailyworld.in/business/vande-bharat-train-to-begin-operations-from-bikaner-to-delhi-cantt-inaugural-run-today-640360.html Thu, 25 Sep 2025 20:34:00 +0530 https://dailyworld.in/business/centres-digital-reforms-empowering-gram-panchayats-across-rural-india-640362.html New Delhi Sep 25 The Ministry of Panchayati Raj has launched a series of digital reforms ranging from AIdriven meeting records to geospatial planning and citizenfocused mobile apps to strengthen Gram Panchayats according to an official statement issued on Thursday Initiatives such as SabhaSaar an AIpowered tool for recording and summarising Gram Sabha proceedings SVAMITVA for digital land mapping and property rights eGramSwaraj for integrated online planning accounting and monitoring Meri Panchayat mobile app for citizen access to local data and Gram Manchitra for geospatial planning are transforming the way Panchayats functionThese platforms not only improve transparency and efficiency but also empower citizens to participate more actively in local governance As on August 2025 263 crore property cards have been prepared in 173 lakh villages while as of July 2025 drone surveys have been completed in 323 lakh villages the statement explainedThe success of the digital drive is reflected in the fact that 254 lakh Gram Panchayats have uploaded their Gram Panchayat Development Plan GPDP on the eGramSwaraj portal while 241 lakh Gram Panchayats have completed online transactions for 15th Finance Commission grants the statement pointed outThe Ministry launched SabhaSaar in August 2025 which is an Artificial Intelligence AI tool that creates structured minutes of meetings from the audio or video of Gram Sabha and other Panchayat gatherings Until now preparing minutes was a slow manual and often inconsistent exercise SabhaSaar changes this by producing accurate summaries in real timeIt is linked with Bhashini the National Language Translation Mission which allows it to work in 14 Indian languages This makes it accessible to communities across diverse regions With the help of SabhaSaar Gram Panchayat officials can now focus more on governance and service delivery while the tool handles the documentation work thus ensuring realtime unbiased records and greater transparency the statement saidThe SVAMITVA Survey of Villages and Mapping with Improvised Technology in Village Areas Scheme by the Prime Minister gives rural households legal ownership papers for the homes and land they occupyUsing drones and advanced mapping tools it clearly marks property boundaries With these documents families can obtain bank loans resolve disputes and make better use of their assets while Gram Panchayats gain by improving property tax collection and enabling better resource planningThe scheme is implemented by Ministry of Panchayati Raj with support from the Survey of India with the National Informatics Centre Services Inc NICSI as the technology partner It has an approved cost of Rs 56623 crore from FY 202021 to FY 202425 with an extension up to FY 202526SVAMITVA has ended decades of reliance on revenue officials and patwaris for demarcating land ownership The programme enables villagers to map their own land with modern tools giving them authority and security Its success has drawn attention worldwide and inspired other countries to explore similar approaches the statement saidThe government launched BharatNet in October 2011 to bridge the digital divide The project aims to deliver affordable highspeed internet to every Gram PanchayatImplemented by the Ministry of Communications BharatNet seeks to empower rural communities support inclusive growth and bring villages closer to urban standards of connectivity It is not only an infrastructure project but also the backbone of Indias march towards a digital nation the statement added IANS https://dailyworld.in/business/centres-digital-reforms-empowering-gram-panchayats-across-rural-india-640362.html Thu, 25 Sep 2025 20:36:00 +0530 https://dailyworld.in/business/nothings-cmf-to-become-indian-brand-announces-100-million-jv-with-optiemus-to-create-1-800-jobs-640366.html New Delhi Sep 25 Smartphone maker Nothing has given its affordable subbrand CMF a big push by turning it into an independent subsidiary with India as its global base for operations research and manufacturing the company said on Thursday Alongside this move the company has announced a 100 million joint venture with Indian electronics manufacturer Optiemus Infracom LimitedThe partnership is expected to create more than 1800 jobs in India over the next three years as per the official statementWith this collaboration India will not only serve as the headquarters for CMFs manufacturing but will also play a central role in transforming the country into a global hub for smartphone production and exportsNothing has already invested over 200 million in India highlighting the countrys importance in its growth strategyCMF which was launched in 2023 has quickly made a mark in the budget smartphone and wearables segmentThe phones are priced under 200 a sweet spot in India where more than 42 per cent of all phones sold in the second quarter of 2025 fell in the 100200 price range according to IDC dataCarl Pei CEO of Nothing said the joint venture marks a significant milestone in building CMF into Indias first truly global smartphone brandIndia will play a key role in shaping the future of the global smartphone industry With our endtoend capabilities we are uniquely positioned to build CMF into a global brand and our joint venture with Optiemus is a key step in that journey he saidOptiemus which has deep expertise in electronics manufacturing will bring its engineering and production strengths to the partnershipAshok Gupta Executive Chairman of Optiemus said the collaboration reflects the growing strength of the Indian ecosystemGlobal brands choosing India to build is a testament to the vision of Make in India and Atmanirbhar Bharat This partnership goes beyond hightech manufacturing it will empower us to create exportready products designed in India showcasing the innovation and talent of our people to the world he said IANS https://dailyworld.in/business/nothings-cmf-to-become-indian-brand-announces-100-million-jv-with-optiemus-to-create-1-800-jobs-640366.html Thu, 25 Sep 2025 20:40:00 +0530 https://dailyworld.in/business/indias-residential-housing-sales-value-surges-to-152-lakh-crore-in-q3-2025-640371.html New Delhi Sep 25 Despite global economic uncertainties and geopolitical tensions residential demand in India has remained reasonably resilient in third quarter of the calendar year Q3 2025 with total sales value surged significant 14 per cent from around Rs 133 lakh crore in Q3 2024 to nearly 152 lakh crore in Q3 this year a report said on Thursday The development was supported by rising incomes urbanisation and aspirational homeownership sentimentHowever the sector faces headwinds in affordability costs and uneven demand across markets as it saw a 9 per cent dip in sales volumeAs many as 97080 units of homes sold across the top seven cities in Q3 2025 against 107 lakh units in Q3 2024 Anarock said in its reportAmong the top seven cities Mumbai Metropolitan Region MMR recorded the highest sales of around 30260 units followed by Pune 16620 unitsCumulatively the two western cities accounted for 48 per cent of the total sales in the top 7 cities in Q3 2025 All top cities individually recorded a dip in yearly housing sales except Chennai and Kolkata which witnessed 33 per cent and 4 per cent yearly jumps respectively said Anuj Puri Chairman Anarock GroupThese cities saw a marginal 3 per cent increase in new housing supply with approximately 96690 units launched in Q3 2025 against 93750 units in the corresponding period in 2024 Nevertheless the fact that sales remained higher than launches indicates that the demandsupply equation remains robustAmong the cities MMR topped new supply with 29565 units launched in the quarter followed by Pune with nearly 19375 unitsInterestingly while the other cities saw new supply decline annually Pune Kolkata and Chennai saw it increase by a whopping 56 per cent and 38 per cent respectively the report saidThe Rs 15 crore luxury housing category witnessed the highest new supply of 38 per cent followed by the premium Rs 80 lakhRs 15 crore segment with a 24 per cent share The midsegment Rs 4080 lakh contributed a 23 per cent share of the total new supply in the quarter while the affordable segments share was the lowest at 16 per centMeanwhile total available housing inventory saw only a marginal yearly decline in the top seven cities from around 564415 lakh units by Q3 2024end to nearly 561756 lakh units by Q3 2025endAverage residential prices in these cities collectively saw singledigit growth of 9 per cent in Q3 2025 against Q3 2024 At 24 per cent NCR recorded the highest annual growth followed by Bengaluru with a 10 per cent increaseDespite the monsoons and the perceived inauspicious shraad period housing sales in Q3 rose 1 per cent quarterly Overall the housing market is so far reasonably steady in 2025 with expectations for a festive boost ahead for which developers have several projects lined up the report said IANS https://dailyworld.in/business/indias-residential-housing-sales-value-surges-to-152-lakh-crore-in-q3-2025-640371.html Thu, 25 Sep 2025 20:45:00 +0530 https://dailyworld.in/business/consumer-sector-recovery-on-cards-with-tax-cuts-and-gst-relief-report-640375.html New Delhi Sep 25 The consumer sector in India is showing signs of recovery after more than a year of weakness in urban demand a new report said on Thursday The rebound is expected to be driven by a favourable base income tax cuts and a reduction in Goods and Services Tax GST rates according to HSBC Global Investment ResearchTogether these measures are set to put nearly Rs 225 lakh crore back into the hands of consumers equal to about 28 per cent of overall household spending the report saidHSBC noted that the consumption environment has remained muted since the postCOVID boom but the recent policy changes could provide a muchneeded boostUrban demand which has been sluggish is expected to improve while rural demand is already strong supported by rising real wagesHowever the report cautioned that higher savings or debt repayments could limit the pace of recoveryThe report highlighted that GST rate cuts would benefit food and beverage companies more than those in the home and personal care segmentProducts such as biscuits salty snacks and chocolates are expected to see a direct rise in consumption because of their popularity in small pack sizesIn contrast categories like soaps and oral care may see only a onetime push in demand the report addedMeanwhile earlier this week traders and business owners also welcomed the next generation GST reforms saying the changes will increase purchasing power lower prices of essential items and give a big push to the economyThey also praised Prime Minister Narendra Modi for introducing the measures during the festive seasonA branded clothing store owner SK Sarda on September 22 told IANS that the new GST framework has simplified the system and corrected earlier problems of multiple taxesHe pointed out that the government has already collected nearly Rs 55 lakh crore through GST which is being used for national development and defence purposes IANS https://dailyworld.in/business/consumer-sector-recovery-on-cards-with-tax-cuts-and-gst-relief-report-640375.html Thu, 25 Sep 2025 20:50:00 +0530 https://dailyworld.in/business/india-adds-27-gw-renewable-energy-capacity-in-april-aug-report-640376.html New Delhi Sep 25 Renewable energy RE capacity commissioning momentum in India remains strong with a robust 27 GW of gross capacity added during the first five months AprilAugust of the current financial year according to a report released on Thursday Within this 20GW of renewable capacity was commissioned through August Another 142GW is under various stages of construction as per Central Electricity Authority CEA according to an HSBC reportWith gradual progress on commissioning of interstate transmission lines the commissioning of renewable projects is expected to pick up pace as well Recent mergers and acquisitions and renewable developers potential listings also should make more capital available to accelerate commissioning the report statesInnovative tenders continue to bring down power storage costs which we expect will increase acceptability of renewable power the report observedIt highlights that the solar plus energy storage system ESS costs have now fallen to record lows In a recently discovered solar plus storage tender the tariffs discovered were as low as IRs 27276kWh Based on the terms the developer is expected to provide power for two hours during peak times and storage for another two hours during morning peak apart from supplying the usual solar power during solar hoursWhile the tariffs have raised concern on the profitability the savings on infrastructure low risk on land acquisition and earnings for free power during morning peak will likely allow developers to earn normative returns the report statesIt also expects slower tendering and focus on cleaning the old renewable auctions to ultimately restore investor confidence in the renewable energy sector India conducted more than 90GW of renewable energy auctions in the past two years and a significant part remains unsigned into power purchase agreements PPA This creates uncertainty for developers and investors on the value that needs to be assigned to these award letters LOAs the report points outIndia has already cancelled 114GW of renewable tenders that met with insufficient participation or high tariffs This could pave the way for allow some old suck tenders to be cancelled as well it addedThe report expects the overall demand for power in the country to accelerate next month It states that overall power demand is still tepid although there has been a 3 per cent yearonyear increase in SeptemberIts important to highlight that power demand this month already exceeds September 2023s a month when power demand grew 115 per cent yearonyear Based on weather forecasts likelihood of an intense winter and expected pickup in industrial activity is expected to lead to a meaningful pickup in power demand in late October or early November according to the report IANS https://dailyworld.in/business/india-adds-27-gw-renewable-energy-capacity-in-april-aug-report-640376.html Thu, 25 Sep 2025 20:52:00 +0530 https://dailyworld.in/business/pune-property-registrations-up-13-pc-so-far-in-2025-report-640380.html New Delhi Sep 25 Punes property market recorded a 13 per cent rise in registrations between January and August this year compared to the same period last year making it the citys best performance in the past four years a new report said on Thursday Stamp duty collections during the period also rose 15 per cent yearonyear YoY reflecting sustained demand momentum in the housing market despite a modest dip in August sales according to a report by Knight Frank IndiaThe city recorded 13253 property transactions in August a 3 per cent decrease YoY generating Rs 485 crore in stamp duty revenue the report addedAffordable housing led property transactions in August with properties priced under Rs 25 lakh making up 30 per cent of registrations during the monthWith a total of 3975 units registered costing up to Rs 25 lakh the category saw a rise of 17 per cent YoY over same time last yearDemand for premium housing increased with homes priced above Rs 1 crore rising to 16 per cent of sales from 15 per cent last year the report statedMeanwhile properties priced up to Rs 1 crore still made up most sales though they eased from 85 per cent to 84 per cent over the same periodPunes property market showed a moderation in registrations and revenues compared to last year but overall demand momentum remains intact said Shishir Baijal Chairman amp Managing Director Knight Frank IndiaHe noted that the resilience seen in yeartodate volumes and revenues underscores the depth of demand in Punes housing market even amid evolving market conditionsDemand for larger apartments over 800 square feet rose by 1 per cent to 33 per cent of sales while smaller units under 500 sq ft rose 5 per cent to 27 per centIn August Central Pune accounted for 68 per cent of transactions a slight decrease from the previous year IANS https://dailyworld.in/business/pune-property-registrations-up-13-pc-so-far-in-2025-report-640380.html Thu, 25 Sep 2025 20:56:00 +0530 https://dailyworld.in/business/india-adds-27-gw-renewable-energy-capacity-in-april-aug-640382.html New Delhi Sep 25 Renewable energy RE capacity commissioning momentum in India remains strong with a robust 27 GW of gross capacity added during the first five months AprilAugust of the current financial year according to a report released on Thursday Within this 20GW of renewable capacity was commissioned through August Another 142GW is under various stages of construction as per Central Electricity Authority CEA according to an HSBC reportWith gradual progress on commissioning of interstate transmission lines the commissioning of renewable projects is expected to pick up pace as well Recent mergers and acquisitions and renewable developers potential listings also should make more capital available to accelerate commissioning the report statesInnovative tenders continue to bring down power storage costs which we expect will increase acceptability of renewable power the report observedIt highlights that the solar plus energy storage system ESS costs have now fallen to record lows In a recently discovered solar plus storage tender the tariffs discovered were as low as IRs 27276kWh Based on the terms the developer is expected to provide power for two hours during peak times and storage for another two hours during morning peak apart from supplying the usual solar power during solar hoursWhile the tariffs have raised concern on the profitability the savings on infrastructure low risk on land acquisition and earnings for free power during morning peak will likely allow developers to earn normative returns the report statesIt also expects slower tendering and focus on cleaning the old renewable auctions to ultimately restore investor confidence in the renewable energy sector India conducted more than 90GW of renewable energy auctions in the past two years and a significant part remains unsigned into power purchase agreements PPA This creates uncertainty for developers and investors on the value that needs to be assigned to these award letters LOAs the report points outIndia has already cancelled 114GW of renewable tenders that met with insufficient participation or high tariffs This could pave the way for allow some old suck tenders to be cancelled as well it addedThe report expects the overall demand for power in the country to accelerate next month It states that overall power demand is still tepid although there has been a 3 per cent yearonyear increase in SeptemberIts important to highlight that power demand this month already exceeds September 2023s a month when power demand grew 115 per cent yearonyear Based on weather forecasts likelihood of an intense winter and expected pickup in industrial activity is expected to lead to a meaningful pickup in power demand in late October or early November according to the report IANS https://dailyworld.in/business/india-adds-27-gw-renewable-energy-capacity-in-april-aug-640382.html Thu, 25 Sep 2025 20:58:00 +0530 https://dailyworld.in/business/phonepe-presents-affordable-insurance-against-firecracker-accidents-this-festive-season-640384.html New Delhi Sep 25 PhonePe has relaunched its comprehensive firecracker insurance coverage just in time for the festive season to offer absolute protection against firecrackerinduced accidents This affordable plan is available at just Rs 11 inclusive of GST and provides extensive coverage up to Rs 25000 for a span of 11 days during the festive periodThe initiative aims to provide enhanced assurance and protection to buyers so they can enjoy the festivities knowing they have financial support in the event of an accidentAs the upcoming festive season is the peak time for firecracker usage PhonePe has reintroduced the firecracker insurance plan to ensure families can celebrate with utmost peace of mindAt a nominal fee of Rs 11 buyers can avail a sum insured of up to Rs 25000 and shield their entire family including themselves their spouse and up to 2 children under a single policy The coverage is valid for 11 days beginning October 12For policies purchased after this date the coverage will be effective for 11 days from the date of purchaseThe plan has been designed to be simple transparent and easily accessible simple and transparentUsers can purchase the policy in under a minute directly on the PhonePe app and secure coverage for hospitalisation more than 24 hrs daycare treatment less than 24 hrs and accidental deathHeres how users can avail this coverage on the PhonePe appStep 1 Open the Insurance section on the PhonePe app and select Firecracker InsuranceStep 2 Select the plan details with a sum insured of Rs 25000 and a fixed premium of Rs 11 along with your plan benefitsStep 3 You will be able to view the insurers information and get a detailed breakdown of the plan benefitsStep 4 Lastly fill in the policyholders details tap Proceed to Pay to complete the process IANS https://dailyworld.in/business/phonepe-presents-affordable-insurance-against-firecracker-accidents-this-festive-season-640384.html Thu, 25 Sep 2025 20:59:00 +0530 https://dailyworld.in/business/adani-green-talks-2025-brings-together-young-changemakers-shaping-an-inclusive-future-640386.html Ahmedabad Sep 25 The Adani Group on Thursday hosted the fourth edition of Adani Green Talks bringing together changemakers social entrepreneurs and innovators shaping a sustainable and inclusive future The event which has grown into one of Indias most distinctive platforms for social innovation was inaugurated with a keynote address by Gautam Adani Chairman of the Adani GroupIn his address Gautam Adani reflected on how Green Talks launched just four years ago has already become a crucible for ideas with the potential to alter the course of societyHe recalled the journeys of past participants such as GenRobotics whose robots have liberated thousands from the indignity of manual scavenging Navalt which has redefined the economics of marine transport with solarelectric ferries operating at just four paisa per passenger per kilometre and Marut Drones whose Drone Didis of Kashi have transformed women into confident agrientrepreneurs under the national Namo Drone Didi programEach of these success stories he noted is proof that vision backed by perseverance can bend the mathematics of probabilityThe 2025 edition presented five pioneering entrepreneurs who shared their journeys of grit innovation and social purposeThese are Abhishek Chhazed of Recyclex which is decarbonising construction with greener building materials Akshita Sachdeva and Bonny Dave of Trestle Labs who are expanding Kibo an assistive technology platform that empowers the visually impaired Manoj Sanker of Nemocare Wellness who is developing affordable neonatal and maternal healthcare devices Jenil Gandhi and Manan Vyas of Avinya Leather who are pioneering plantbased crueltyfree vegan leather and Sowmya Balendiran of Sea6 Energy who is advancing oceanbased seaweed farming for biofuels bioplastics and fertilisersTogether they represent the breadth of Indias innovation and its capacity to address urgent global challengesThis year also marked the introduction of the Adani Green Talks Social Impact Awards chosen from hundreds of applications for their transformative solutions and the inaugural Lok Kalyan Award which was presented to Dr Krishna Ella Founder and Executive Chairman of Bharat BiotechGautam Adani conferred the honour recognising Dr Ellas contribution to global public health through indigenous vaccines including Covaxin which safeguarded millions during the Covid19 pandemicIn his acceptance Dr Ella dedicated the award to the countless scientists and innovators of India who pursue science with a social purpose noting that platforms like Green Talks inspire the next generation to dream with courageActor Vikrant Massey whose film 12th Fail has won him the National Award for Best Actor also attended the eventGautam Adani described Masseys story as symbolic of resilience and perseverance breaking through every barrier much like the young entrepreneurs celebrated on the Green Talks stageHe also announced that in partnership with NDTV Green Talks will now expand its search for changemakers into Indias Tier2 and Tier3 cities recognising that brilliance often emerges from the most unexpected corners of the countryGautam Adani expressed the ambition to eventually build Green Talks into a living platform of global collaboration where sparks from a village in Odisha or Ladakh could connect with innovators in Sao Paulo or Nairobi creating a network united not by transactions but by a shared mission to grow with goodness and leave behind a brighter more sustainable worldGreen Talks Gautam Adani emphasised is about possibility the green shoots that break through the hardest soil to announce a new chapter of freedom and hope It is an invitation to dream boldly and to participate in Indias second freedom struggle for a society free of inequality inertia and indifferenceBy nurturing ideas that accelerate progress towards the United Nations Sustainable Development Goals Adani Green Talks continues to strengthen its role as a bridge between young aspirations policy and global communities turning vision into reality and ideas into action IANS https://dailyworld.in/business/adani-green-talks-2025-brings-together-young-changemakers-shaping-an-inclusive-future-640386.html Thu, 25 Sep 2025 21:02:00 +0530 https://dailyworld.in/business/gautam-adani-calls-upon-young-entrepreneurs-to-shape-indias-second-freedom-struggle-640389.html Ahmedabad Sep 25 Gautam Adani Chairman of the Adani Group on Thursday touched upon the role of young entrepreneurs in shaping what he called Indias second freedom struggle a fight not for independence from foreign rule but for independence in technology and social innovation that uplifts every community bridges divides and strengthens the fabric of democracy In his address at the fourth edition of Adani Green Talks hosted here Gautam Adani said we join our nations second freedom struggle freedom from inequality freedom from inertia and freedom from indifferenceAnd that freedom to dream boldly my friends is what Green Talks is all about Built on the belief that every fresh idea contains the blueprint for transformation It reminds us that growth is not linear it is unpredictable and often invisible the billionaire industrialist saidThat is until suddenly a green shoot breaks through the surface announcing a new chapter of freedom and hope And within that tender green shoot is embedded the essence of every great dream that has gone on to create history the Adani Group Chairman notedIn just three editions of Green Talks hundreds of dreams have been evaluated and 15 remarkable companies have shared their visions on the stageIn a world where nine out of ten startups fade it has been fascinating to see how many of our dreamers have already beaten the odds said Gautam AdaniHe further stated that as an entrepreneur I know firsthand what it means to dream After all it is only the dreamers who dare to leave marks that even history cannot erase But even within the many entrepreneurs I meet those that humble me the most are the social entrepreneurs They begin not in search of fortune but in search of to build a better societyGautam Adani said that the eventual objective is to make Green Talks more than a stageIt should become a living platform of collaboration where Indias innovation meets the worlds imagination A place where social startups spark ideas unite in purpose and work for the betterment of humanity It should be an ecosystem where every participant is bound not by transactions but by a shared mission to grow with goodness to leave behind a brighter more sustainable world the Adani Group Chairman emphasised IANS https://dailyworld.in/business/gautam-adani-calls-upon-young-entrepreneurs-to-shape-indias-second-freedom-struggle-640389.html Thu, 25 Sep 2025 21:05:00 +0530 https://dailyworld.in/business/honda-cars-india-surpasses-2-lakh-units-export-milestone-640392.html New Delhi Sep 25 Honda Cars India Ltd HCIL on Thursday said that it has achieved a significant milestone of 200000 cumulative units of export from India Honda began its export operations in India with limited units sent to neighbouring marketsThe first 50000 units were exported primarily to neighbouring South Asian Association for Regional Cooperation SAARC countries South Africa and Southern African Development Community SADC countries till 2021The next 50000 units export followed in 25 years expanding the companys reach to lefthand drive markets in the Middle East Mexico and Turkey for the Honda CityIn recent years HCIL has seen a significant jump in export volume and the next 100000 units export was achieved in 2 years driven by the demand for its midsize SUV Elevate in new markets of Japan South America and Caribbean nations it saidAchieving 200000 export units fills Honda Cars India with immense pride This milestone underscores the global recognition of our Indiamade cars It also reflects the dedication of our skilled teams and robust manufacturing capabilities Honda Cars India Ltd Vice President Marketing amp Sales Kunal Behl saidExports are an integral part of HCILs business and revenue strategy and we remain committed to strengthening this area going forward We are dedicated to the Make in India initiative serving both our domestic market and global customers he addedThe key export models notably the highly popular Honda City and the versatile Honda Elevate have been the primary contributors to this growth accounting for 78 per cent of total export volumeThe remaining 22 per cent comprises a diverse range of models including the Brio Amaze Jazz BRV Mobilio City e HEV Accord and CRVThe car manufacturer informed that it has exported vehicles to 33 countries across various regions over the years Japan accounted for the largest share at 30 per cent followed by South Africa and SADC countries at 26 per cent Mexico at 19 per cent and Turkey at 16 per centThe remaining 9 per cent share comprised countries in the Middle East the SAARC region the Caribbean and South AmericaThis achievement highlights Hondas strong manufacturing capabilities in Indian operations and commitment to delivering highquality products to its customers worldwide Honda Cars India said IANS https://dailyworld.in/business/honda-cars-india-surpasses-2-lakh-units-export-milestone-640392.html Thu, 25 Sep 2025 21:08:00 +0530 https://dailyworld.in/business/govt-seals-rs-62-370-crore-deal-with-hal-to-buy-97-lca-mk1a-fighter-jets-for-iaf-640396.html New Delhi Sep 25 The Ministry of Defence has signed a Rs 62370 crore contract with Hindustan Aeronautics Limited HAL for the procurement of 97 Light Combat Aircraft LCA Mk1A including 68 fighters and 29 twinseaters along with associated equipment for the Indian Air Force according to an official statement issued on Thursday The delivery of these planes would commence during 202728 and be completed over a period of six yearsThe aircraft will have an indigenous content of over 64 per cent with 67 additional items incorporated over and above the previous LCA Mk1A contract signed in January 2021 The integration of advanced indigenously developed systems such as the UTTAM Active Electronically Scanned Array AESA Radar Swayam Raksha Kavach and control surface actuators will further strengthen the Aatmanirbharta initiatives the statement saidThe project is being supported by a robust vendor base of nearly 105 Indian companies directly engaged in the manufacture of detailed components The production is expected to generate close to 11750 direct and indirect jobs per year for the duration of six years giving a major boost to the domestic aerospace ecosystemThe acquisition under the Buy IndiaIDDM category of Defence Acquisition Procedure 2020 is in line with the governments thrust on indigenisation The LCA Mk1A is the most advanced variant of the indigenously designed and manufactured fighter aircraft and will serve as a potent platform to meet the operational requirements of the IAF the statement saidThe start of deliveries for the first two fully armed Mk 1As of the earlier order is considered a key factor for HAL securing its repeat order worth Rs 67000 croreHAL announced earlier this month that it had received the third GE 404 engine from US tech giant General Electric GE Aerospace to power Indias Light Combat Aircraft LCA Mk1AThe Bengaluruheadquartered defence PSU said that while the third GE 404 engine has been received the fourth will be delivered by the US firm by the end of the month Engine supply chain improvement will pave the way for LCA Mk1A deliveries HAL said in a statementWhile at present HAL is operating two production lines in Bengaluru it has started the third in Nashik to augment the production of the fighter jet The current year is likely to see three to four aircraft being rolled out from Nashik the annual production from the new plant will be stepped up to eight planesHAL Chairman and Managing Director DK Sunil earlier said that if GE delivers 12 GE 404 engines as assured by the US aerospace major HAL will be able to produce 12 aircraft by the end of this financial year HAL has placed an order of 99 GE 404 engines from the US engine manufacturer IANS https://dailyworld.in/business/govt-seals-rs-62-370-crore-deal-with-hal-to-buy-97-lca-mk1a-fighter-jets-for-iaf-640396.html Thu, 25 Sep 2025 21:12:00 +0530 https://dailyworld.in/business/investor-funds-diverted-accounts-faked-sebi-imposes-5-year-ban-on-seacoast-shipping-640399.html New Delhi Sep 25 The Securities and Exchange Board of India SEBI has barred Seacoast Shipping Services Limited SSSL and its key officials from raising funds from investors for five years after finding the company guilty of diverting rights issue proceeds fabricating accounts and misleading shareholders with false disclosures The order also imposes penalties and directs disgorgement of unlawful gains bringing the curtain down on one of the most unusual cases of market misconduct in recent yearsIn a detailed order SEBI said SSSL had diverted crores of rupees raised through a rights issue and created fictitious accounts to hide the misuseAt one point the companys promoters even attempted to justify the diversion with a bizarre explanation that the funds were used to pay ransom following the alleged kidnapping of promoter Manish Shahs sonSEBI however found no merit in the claim noting that no police complaint or supporting documents were ever providedInstead contradictory statements from company officials deepened the inconsistenciesIn February 2024 Shah himself admitted under oath that the rights issue money had been used for fictitious purchases not ransomAnother director claimed the money was taken after a kidnapping but conceded the family never reported the matter to authoritiesIndependent directors added further confusion by claiming ignorance of the rights issue altogetherThe rights issue proceeds were not utilised by the company and were instead diverted SEBIs order stated categorically rejecting the kidnapping narrative outrightThe regulators probe revealed deeper fraud SSSL fraudulently allotted 150 crore shares worth Rs 2273 crore to promoter Manish Shah without valid considerationIt also diverted Rs 4342 crore from rights issue proceeds and another Rs 1083 crore from bank creditFinancial statements from FY21 to FY24 were grossly misrepresented with over 85 per cent of reported sales and 98 per cent of assets found to be fictitiousDespite negligible inventory and fixed assets the company declared inflated revenues luring unsuspecting retail investors and driving up trading volumes in its sharesSEBI said such misleading financial results had a significant impact on both shareholder participation and the companys stock priceThe case traces back to a Bombay Stock Exchange BSE report which flagged suspicious relatedparty transactions between April 2020 and December 2023What began as routine scrutiny expanded into a fullfledged investigation that revealed how the midsized shipping firm weaved together inflated numbers fraudulent allotments and even a sensational kidnapping story to cover up its diversion of investor fundsSEBIs order passed by WholeTime Member Kamlesh Chandra Varshney not only imposes a fiveyear fundraising ban on the company and its top executives but also directs disgorgement of gains made through these unlawful practicesThe ruling underscores the regulators increasing vigilance against corporate misconduct especially cases where retail investors are misled by manipulated disclosures IANS https://dailyworld.in/business/investor-funds-diverted-accounts-faked-sebi-imposes-5-year-ban-on-seacoast-shipping-640399.html Thu, 25 Sep 2025 21:14:00 +0530 https://dailyworld.in/business/stock-market-ends-lower-amid-profit-booking-selling-in-it-stocks-640401.html Mumbai Sep 25 The Indian equity indices extended the bearish momentum for the fifth consecutive day on Thursday fueled by FII outflows profit booking and persistent selling in the IT sector stocks Sensex ended the session at 8115968 down 55595 points or 068 per cent The 30share index started the session under pressure at 8157431 against the last sessions closing of 8171563 amid overall selling The index dragged further to hit an intraday low at 8109289Nifty closed at 2489085 down 16605 or 066 per centIndian markets extended their losing streak for a fifth straight session as investors booked profits amid persistent FII outflows and uncertainty over USIndia trade talks which is expected to dent Q2 GDP growth an analyst saidBroadbased selling prevailed in the market with heavy selling across auto IT pharma and healthcare sectors while metals gained on the back of Chinas liquidity support and copper supply concerns the analyst addedOverall sentiment remains cautious ahead of Indias H2 FY26 borrowing and US macroeconomic data expected to be released at the end of the weekTrent PowerGrid Tata Motors TCS Asian Paints NTPC Bajaj Finance Bajaj FinServ Mahindra and Mahindra HCL Tech Eternal Titan Kotak Bank Tech Mahindra and LampT SBI and Ultratech Cement closed in negative territory from the Sensex baskets BEL Axis Bank and Bharti Airtel settled in greenSectoral indices closed in red amid persistent selling Nifty Auto fell 249 points or 092 per cent Nifty FMCG slipped 270 points or 049 per cent Nifty IT closed 445 points or 127 per cent lower Nifty Fin Services dragged 141 points or 053 per cent and Nifty Bank settled 145 points or 026 per centBroader indices followed suit as well Nifty Next 50 dipped 514 points or 075 per cent Nifty 100 slipped 174 points or 068 per cent Nifty Midcap 100 closed 368 points or 064 per cent and Nifty Small Cap 100 fell 102 points or 057 per cent IANS https://dailyworld.in/business/stock-market-ends-lower-amid-profit-booking-selling-in-it-stocks-640401.html Thu, 25 Sep 2025 21:19:00 +0530 https://dailyworld.in/business/dot-fiu-join-hands-to-tackle-cyber-and-financial-frauds-with-stronger-data-sharing-640408.html New Delhi Sep 25 In a big step to curb cybercrimes and financial frauds the Department of Telecommunications DoT and the Financial Intelligence UnitIndia FIUIND on Thursday signed a Memorandum of Understanding MoU to strengthen data sharing and coordination The agreement will allow both agencies to exchange information in realtime helping to identify and act against fraudsters more quicklyThe MoU was signed by Sanjeev Kumar Sharma Deputy Director General AI amp Digital Intelligence Unit DIU DoT and Amit Mohan Govil Director FIUIND in the presence of Telecom Secretary Neeraj Mittal and Revenue Secretary Arvind ShrivastavaSpeaking at the event Mittal stressed the need for government departments to work beyond their boundariesTechnology has helped each department achieve its goals but real progress lies in developing synergies and learning from each other A joint working group can be the next step to detect shell companies and conduct deeper investigations he saidShrivastava added that this collaboration would improve the accuracy and speed of fraud detectionIt is an excellent partnership where both sides will strengthen each others systems With the use of technology I am confident this will deliver high efficiency he saidAs part of the MoU FIU will share mobile numbers linked to suspicious transactions while DoT will provide details of mobile numbers that have been disconnected due to fraudThe information will be exchanged through secure technologydriven platforms like DoTs Digital Intelligence Platform DIP and FIUs Finnex 20 portalThe partnership is expected to help prevent financial crimes by flagging risky mobile numbers before they are used in fraudulent transactionsIt will also allow banks and financial institutions to carry out stronger risk checks while processing digital paymentsIndias digital payment system has grown rapidly in recent years which has also made it a target for cyber fraudstersAccording to DoT initiatives like Sanchar Saathi have already helped block 284 crore fake mobile connectionsUsing the Financial Fraud Risk Indicator FRI system banks have been able to stop 48 lakh suspicious transactions preventing a loss of Rs 140 croreThe new agreement will also pave the way for standard procedures in data sharing and feedback systems ensuring better nationallevel fraud detection Both DoT and FIU will continue to update their strategies to deal with evolving cyber threats IANS https://dailyworld.in/business/dot-fiu-join-hands-to-tackle-cyber-and-financial-frauds-with-stronger-data-sharing-640408.html Thu, 25 Sep 2025 21:26:00 +0530 https://dailyworld.in/business/india-becomes-worlds-3rd-largest-tech-startup-ecosystem-with-77-bn-of-funding-in-2025-report-640409.html New Delhi Sep 25 India climbed to third position globally in terms of funding for tech startups trailing only the United States and the United Kingdom but ahead of Germany and France a report said on Thursday Funding for Indian technology startups declined 23 per cent yearonyear to 77 billion in the first nine months of 2025 a report from market intelligence platform Tracxn saidThis sector received 101 billion worth of funds in the corresponding period in 2024 and 83 billion in 2023India climbing to the third rank globally reflects the resilience and adaptability of our startup ecosystem What we are witnessing is a clear shift toward maturity with rising acquisitions steady IPO activity and continued unicorn creation providing balanced exit pathways for founders and investors said Neha Singh CoFounder of TracxnSectors such as enterprise applications retail and transportation and logistics technologies are driving longterm investor confidence and fuelling Indias digital transformation she addedSeedstage funding witnessed a total of 727 million a 39 per cent dip from the previous year Earlystage funding touched 27 billion marking a 10 per cent decline while latestage funding dropped 27 per cent to 43 billion the report saidThe count of rounds exceeding 100 million decreased to 10 from 16 last year and 15 in 2023 while the median round size doubled to 15 millionEnterprise applications topped sectoral funding with 23 billion followed by retail at 2 billion and transportation and logistics technology at 179 billion it notedIn terms of exits 110 acquisitions took place during 2025 a 15 per cent increase over 96 from the corresponding period in the previous year Enterprise applications continued to lead acquisition activity driven by demand for cloud and AI solutionsIndia added four unicorns in 2025 raising the total to 122 the report noted Bengalurubased startups continued to dominate accounting for 31 per cent of total funding followed by Delhi at 18 per cent IANS https://dailyworld.in/business/india-becomes-worlds-3rd-largest-tech-startup-ecosystem-with-77-bn-of-funding-in-2025-report-640409.html Thu, 25 Sep 2025 21:27:00 +0530 https://dailyworld.in/business/cbdt-extends-last-date-for-filing-audit-reports-for-assessment-year-2024-25-to-oct-31-640412.html New Delhi Sep 25 The Central Board of Direct Taxes CBDT announced on Thursday that it has extended the specified date for filing various audit reports for the previous year 202425 Assessment Year 202526 from September 30 to October 31 for assessees referred to in clause a of Explanation 2 to subsection 1 of section 139 of the Income Tax Act 1961 The Board has received representations from various professional associations including Chartered Accountant bodies highlighting certain difficulties being faced by taxpayers and practitioners in the timely completion of audit reports The reasons cited in these representations include disruptions caused by floods and natural calamities in certain parts of the country which have impeded normal business and professional activity This matter has also come up before the High Courts the press statement saidThe statement also clarified that the Incometax efiling portal has been operating smoothly and without any technical glitches and the Tax Audit Reports are being uploaded successfully The system is stable and fully functional enabling the submission of various statutory forms and reports At the close of September 24 402000 Tax Audit Reports TARs were uploaded with over 60000 TARs uploaded on the day itself Furthermore more than 757 crore ITRS have been filed till September 23However keeping in view the representation of the tax practitioners and their submissions before the courts the specified date for furnishing of the report of audit under any provision of the Income Tax Act 1961 for the Previous Year 2024 25 Assessment Year 202526 in the case of assessees referred to in clause a of Explanation 2 to subsection 1 of section 139 of the Act is extended from September 30 to October 31 the statement addedSection 1391 pertains to the submission of both voluntary and obligatory income tax returns requiring individuals and entities with income surpassing the exemption threshold to file their returns by the specified deadline IANS https://dailyworld.in/business/cbdt-extends-last-date-for-filing-audit-reports-for-assessment-year-2024-25-to-oct-31-640412.html Thu, 25 Sep 2025 21:31:00 +0530 https://dailyworld.in/business/rbi-issues-guidelines-on-authentication-mechanisms-for-digital-payment-transactions-640420.html New Delhi Sep 25 The Reserve Bank of India RBI on Thursday released draft guidelines on the authentication mechanism framework for digital payment transaction authentication that will come into effect from April 1 2026 The Central Bank said the feedback from the public has been examined and suitably incorporated in the final directionsThe directions focus on encouraging introduction of new factors of authentication by leveraging upon technological advancementsThe framework however does not call for discontinuation of SMSbased OTP as an authentication factorThe aim is also to enable issuers to adopt additional riskbased checks beyond the minimum twofactor authentication based on the fraud risk perception of the underlying transaction and facilitate interoperability and open access to technology along with delineating the responsibility of IssuersThe draft guidelines also mandate card issuers to validate AFA in nonrecurring crossborder CNP transactions whenever such a request is raised by the overseas merchant or acquirerThe RBI says that all digital payment transactions in India are required to meet the norm of two factors of authentication While no specific factor was mandated for authentication the digital payments ecosystem has primarily adopted SMSbased One Time Password OTP as the additional factorAll digital payment transactions shall be authenticated by at least two distinct factors of authentication unless exempted Issuers may at their discretion offer a choice of authentication factors to their customers in compliance with these directions according to the RBIIt shall be ensured that for digital payment transactions other than card present transactions at least one of the factors of authentication is dynamically created or proven ie the proof of possession of the factor being sent as part of the transaction is unique to that transaction The factor of authentication shall be such that compromise of one factor does not affect reliability of the other it further addedAlso system providers and system participants will offer authentication or tokenisation service that is accessible to all the applications and token requestors functioning in that operating environment for all use cases and channels or token storage mechanisms IANS https://dailyworld.in/business/rbi-issues-guidelines-on-authentication-mechanisms-for-digital-payment-transactions-640420.html Thu, 25 Sep 2025 21:41:00 +0530 https://dailyworld.in/business/fmcg-giants-acquire-d2c-players-to-broaden-premium-offerings-use-digital-data-report-640423.html New Delhi Sep 25 Established fastmoving consumer goods companies are increasingly acquiring directtoconsumer D2C players to expand into premium categories and leverage digital consumer insights a report said on Thursday In the past five fiscals around twothirds of the acquisitions of FMCG players have been in the D2C space a report from ratings agency Crisil Ratings saidFMCG firms gained access to differentiated products faster innovation cycles and targeted marketing through these deals while D2C brands address challenges related to scale and profitability leading to a winwin situationFMCG firms entered new premium categories and gained access to consumer insights accelerating feedback loops Prior to acquisition less than 15 per cent of the D2C companies in our sample set had managed to cross Rs 250 crore in revenue and only a third reported operating profits said Anuj Sethi Senior Director Crisil RatingsD2C companies which rose to prominence postpandemic logged a revenue growth of approximately 40 per cent compound annual growth rate until 2024 in contrast to 9 per cent growth for established FMCG playersThe premium positioning of D2C companies priced 15 to 45 times higher than established alternatives drove this growthThe acquisitions have now strengthened the business profiles of traditional FMCG players by providing them with entry into niche product categories the report notedAround 60 per cent of acquisitions occurred in personal care while the remainder were in food and beverages the report notedAbout 85 per cent of the acquisitions were undertaken to enter niche and premium segments with around 35 per cent in the health and wellness segment said Aditya Jhaver Director Crisil RatingsAcquisitions have not impacted balance sheets as the average deal value was below 5 per cent of acquirers net worth the report noted IANS https://dailyworld.in/business/fmcg-giants-acquire-d2c-players-to-broaden-premium-offerings-use-digital-data-report-640423.html Thu, 25 Sep 2025 21:44:00 +0530 https://dailyworld.in/business/punjab-kerala-to-boost-livestock-productivity-640432.html Chandigarh Sep 25 In a bid to enhance livestock productivity and farmer prosperity the Punjab and Kerala governments on Thursday joined hands to boost livestock productivity leveraging each states unique strengths in animal husbandry The collaboration involves exchanging highquality genetic material with Kerala is procuring Sahiwal breed bulls from PunjabIn return Punjab would import Holstein Friesian HF and Murrah bull semen from Kerala Punjab has placed an initial order to purchase 30000 doses of HF semen and 60520 doses of Murrah buffalo semen with the Kerala Livestock Development BoardThe decisions to collaborate on livestock development were taken at a highlevel meeting between Punjab Animal Husbandry Minister Gurmeet Khudian and Kerala Minister for Animal Husbandry J Chinchu Rani hereKhudian said both states have agreed to collaborate on advanced reproductive technologies to enhance livestock development This partnership includes joint initiatives on cuttingedge scientific programs such as embryo transfer ET and invitro fertilisation IVF to accelerate breed improvementAdditionally both states will work together on genomic selection and breeding value estimation at the laboratory level to develop superior livestock genetics This collaboration aims to leverage science and technology to improve livestock quality and productivity in both states he addedTo enhance knowledge and capacity building he said the partnership would prioritise human resource development through exchange programmes for veterinarians scientists and trainees This initiative will facilitate capacitybuilding and training programs fostering skill development and expertise sharing between the Punjab Livestock Development Board and the Kerala Livestock Development BoardKerala Minister Rani said they are eager to learn from Punjabs experience while sharing their advancements This collaborative spirit will pave the way for a more resilient and profitable dairy sector in both states ensuring sustainable income growth for our farming communitiesHighlighting the importance of technology transfer Principal Secretary of Punjab Animal Husbandry Department Rahul Bhandari said the exchange of scientists and new technologies is crucialThis partnership will ensure that innovative practices are shared rapidly leading to tangible onground benefits for our farmers This pioneering initiative sets a new benchmark for interstate cooperation in agricultures allied sectors and is expected to significantly enhance the genetic potential of livestock increase milk production and empower farmers across Punjab and Kerala he added IANS https://dailyworld.in/business/punjab-kerala-to-boost-livestock-productivity-640432.html Thu, 25 Sep 2025 21:56:00 +0530 https://dailyworld.in/business/indian-banks-performing-exceptionally-well-fm-sitharaman-640433.html Mumbai Sep 25 Finance Minister Nirmala Sitharaman on Thursday said that Indian banks have performed exceptionally well in both macroeconomic and overall economic terms Speaking at the 91st Foundation Day celebrations of the Bank of Maharashtra in Pune FM Sitharaman highlighted the resilience of Indias banking sector amid global uncertaintiesIn the macroeconomic and also overall economic performance the performance of our Indian banks stand out particularly well the Finance Minister statedIndias economic resilience has continued particularly in the April to June quarter this year where our GDP grew by 78 per cent FM Sitharaman said praising the stability of the countrys financial systemThe Finance Minister also pointed to the success of the Unified Payments Interface UPI noting that its interoperable design has been recognised by the International Monetary Fund IMF as a global modelHowever she stressed that digitalisation alone is not enough Integrity empathy and human judgment remain irreplaceable FM Sitharaman saidThe Finance Minister underlined the critical role banks play in uncertain global conditions not only as custodians of savings but also as engines of growthFM Sitharaman said banks provide vital finance and support to businesses and entrepreneurs enabling them to navigate volatility seize opportunities and drive innovationHighlighting the importance of customer trust the Finance Minister added Every complaint must be seen as an opportunity to improve innovate and reinforce trustGrievance redressal should be accompanied by root cause analysis systemic corrections in products processes and conduct and a commitment to ensure the same complaint does not arise again FM Sitharaman addedThe event was also attended by M Nagaraju Secretary Department of Financial ServicesThe Finance Ministers remarks come at a time when Indias banking sector continues to strengthen its role in supporting the countrys rapid economic growth while embracing technology and maintaining strong governance standards IANS https://dailyworld.in/business/indian-banks-performing-exceptionally-well-fm-sitharaman-640433.html Thu, 25 Sep 2025 21:57:00 +0530 https://dailyworld.in/business/hindenburg-was-a-direct-challenge-to-audacity-of-indian-enterprises-to-go-global-gautam-adani-640241.html Ahmedabad Sep 24 IANS Hindenburg Researchs report was not merely a critique of the Adani Group it was a direct challenge to the audacity of Indian enterprises to dream on a global scale Gautam Adani Chairman of the Adani Group said on WednesdaynbspnbspIn a letter to the shareholders the billionaire industrialist said that January 24 2023 will be remembered as a morning when Indias markets awoke to headlines that reverberated far beyond Dalal StreetnbspFor your Group it marked the beginning of a test that pushed every dimension of our resilience It questioned our governance our purpose and even the very idea that Indian companies could dare lead the world in scale and ambition Gautam Adani emphasisedLast week the Securities and Exchange Board of India SEBI delivered a resounding and unequivocal verdict dismissing the allegations against the Adani Group and its officialsnbspWith SEBIs clear and final word truth has prevailed or like we had always said truth alone will prevail What was meant to weaken us has instead strengthened the very core of our foundations said the Adani Group ChairmannbspHe further stated that this moment is more than a regulatory clearance it is a powerful validation of the transparency governance and purpose with which your company has always operated And the truest evidence of our resilience lies not in words but in performance over this periodWhat was intended to hurt us has instead become a defining inflection point by fortifying our foundations sharpening our ambition and reaffirming our responsibility to build with scale speed and resilience for Indias future Gautam Adani notednbspHowever even as the storm raged I remained acutely aware of the anxiety it created for our investors lenders suppliers and partnersnbspIt was your trust that steadied us your patience that sustained us and your belief that emboldened us For this extraordinary support I am profoundly grateful Gautam Adani highlightedThe Adani Group Chairman said that looking ahead the Group will further strengthen governance standards that inspire confidence across markets and regulators accelerate innovation and sustainability setting benchmarks not just in India but globally and double down on nation building investing in infrastructure that powers Indias longterm growth storynbspLet this moment not merely restore confidence Let it reaffirm what your company stands for resilience in adversity integrity in action and an unyielding commitment to building a brighter future for India and the world said Gautam Adani https://dailyworld.in/business/hindenburg-was-a-direct-challenge-to-audacity-of-indian-enterprises-to-go-global-gautam-adani-640241.html Wed, 24 Sep 2025 15:15:00 +0530 https://dailyworld.in/business/disinvestment-target-of-rs-47-000-crore-to-be-surpassed-more-psu-ipos-ofs-in-pipeline-dipam-secretary-640043.html New Delhi Sep 22 India is set to surpass its Rs 47000 crore disinvestment target for the current fiscal year said Arunish Chawla Secretary of the Department of Investment and Public Asset Management on Monday Chawla said at a media event that public investment via budgetary support is on track with 33 per cent of the annual allocation met by the end of July by frontloading key reformsAs markets stabilise we will bring in more offers for sale minority stake sales and a few IPOs and speed up our journey he saidHalf a dozen OFS and minority stake sales are likely along with 12 strategic sales he said adding that the IDBI Bank strategic divestment will be completed within this financial yearDemocratisation of capital markets has been a big reform he said adding that twothirds of DII flows originated from individual investors even amidst great nervousness for past few months in capital marketsFrom January to August while FIIs withdrew Rs 1 lakh crore in net outflow DIIs poured in Rs 5 lakh crore into Indias equity market he notedChawla described the governments disinvestment strategy as integrated where the public sector has a bona fide role to play as maintaining supply chain security is importantThe secretary said that dividends will play a significant role in the governments integrated disinvestment policy because the public sector which makes up 14 per cent of market capitalisation pays 25 per cent of dividends to small shareholdersThe government targets over Rs 12 lakh crore in dividend receipts this year and is on course to meet the asset monetisation target in FY26 he addedIn spite of global headwinds very soon our capital markets will be third largest in the world he further said IANS https://dailyworld.in/business/disinvestment-target-of-rs-47-000-crore-to-be-surpassed-more-psu-ipos-ofs-in-pipeline-dipam-secretary-640043.html Tue, 23 Sep 2025 00:16:00 +0530 https://dailyworld.in/business/gst-cut-on-renewable-energy-to-save-rs-115-trillion-by-2030-pralhad-joshi-640090.html New Delhi Sep 23 The reduction of Goods and Services Tax GST on the renewable energy value chain from 12 per cent to 5 per cent will save up to Rs 115 trillion by 2030 Union Minister for New and Renewable Energy Pralhad Joshi has said The savings will be essential to reaching the nations goal of 500 gigawatts GW of installed renewable energy RE capacity by 2030 Joshi stated during a media eventIndia has already added 252 GW of this and an additional 248 GW is anticipated to be installed over the next five yearsThis GST cut will result in savings of approximately Rs 1 to 15 trillion This will be the biggest advantage the minister saidThe Ministry of New and Renewable Energy MNRE projects that the tax cut will lower project costs and increase consumer access to clean electricityA utilityscale solar projects capital cost which was previously approximately Rs 354 crore per MW will now be reduced by Rs 2025 lakh per MW This results in cost savings of more than Rs 100 crore for a 500 MW solar park increasing tariff competitivenessA 3 kW rooftop solar system will cost between Rs 9000 and Rs 10500 per household which will encourage adoption under the governments PM Surya Ghar Muft Bijli YojanaThe Centre is also creating a detailed plan to create an ecosystem for solar manufacturing that is selfsufficient encompassing polysilicon wafers and ingotsJoshi suggested using programs like Production Linked Incentive PLI or Viability Gap Funding VGF to promote domestic manufacturingIn addition to modules and cells MNRE is working to add wafers and ingots to the Approved List of Models and Manufacturers ALMMALMM List III for wafers would be implemented starting in June 2028 according to a draft amendment provided that at least three separate manufacturing facilities with a combined 15 GW capacity are in place IANS https://dailyworld.in/business/gst-cut-on-renewable-energy-to-save-rs-115-trillion-by-2030-pralhad-joshi-640090.html Tue, 23 Sep 2025 12:54:00 +0530 https://dailyworld.in/business/gst-reforms-to-boost-operating-profit-of-cement-companies-by-rs-100-150-per-mt-in-fy26-640106.html New Delhi Sep 23 The reduction in Goods and Services Tax GST will boost the operating profit of cement companies by Rs 100150 per metric tonne MT a report said on Tuesday The government move will also reduce overall construction expenses in rural housing by 081 per cent boosting volumes and supporting enhanced capacity additionBacked by the healthy cement demand average cement realisation exfactory price excluding GST is expected to rise by 35 per cent in FY26 even as the input prices are expected to remain rangebound credit rating agency ICRA said in its reportFurther Operating Profit Before Interest Taxes Depreciation and Amortisation OPBIDTA is likely to improve by 1218 per cent to Rs 900950MT in FY2026 it addedCement volumes increased by 85 per cent in 5 months of FY26 due to strong demand from the housing and infrastructure segments despite the early onset of the monsoons in a few regionsCement prices have increased by 74 per cent in the first five months of the current fiscal on a yearonyear YoY basis with major hikes in the northern and eastern regionsThe trajectory of input prices especially for pet coke and freight is linked to global crude which remains exposed to geopolitical dynamicsWith the recent GST rate cut from 28 per cent to 18 per cent expected to be passed on to customers and the average retail price of cement currently ranging between Rs 350360 per bag consumers are projected to benefit by Rs 2628 per bag the report saidAccording to the report in FY25 the OPBIDTAMT had declined by 16 per cent YoY due to weak realisations especially during H1 FY2025 because of extended monsoon and impact on Government capex amid the General ElectionsOverall the credit profile of large cement producers is expected to remain stable driven by a healthy growth in operating income expected improvement in operating margins and comfortable leverage metricsThe industry has witnessed consolidation in recent years and the performance of larger players is expected to outperform compared to that of midsize players in the medium termICRA estimates green power to account for 4345 per cent of the total power mix by March 2026 compared to around 35 per cent as of March 2023 for the cement companies in ICRAs sample set said Anupama Reddy Vice President and CoGroup Head Corporate Ratings ICRAThe major cement players in the country aim to reduce their emissions by 1517 per cent over the next 810 years by increasing the share of blended cement which uses less clinker and consequently less fuel boosting the share of green power consumption through a mix of solar wind and waste heat recovery system WHRS capacities Reddy added IANS https://dailyworld.in/business/gst-reforms-to-boost-operating-profit-of-cement-companies-by-rs-100-150-per-mt-in-fy26-640106.html Tue, 23 Sep 2025 13:53:00 +0530 https://dailyworld.in/business/500-ships-in-10-months-vizhinjam-proves-its-global-importance-kerala-minister-640108.html Thiruvananthapuram Sep 23 The arrival of 500 ships in ten months proves the importance of Vizhinjam Indias first deepwater multipurpose container transshipment port in global cargo shipping Achieving this remarkable feat in just ten months since launching operations is truly noteworthy said Kerala Ports Minister VN Vasavan on Tuesday as Vizhinjam International Seaport scripted a new chapter in Indias maritime historyDeveloped and operated by Adani Ports and Special Economic Zone APSEZ Vizhinjam handled its 500th vessel on Tuesday coinciding with another landmark the berthing of MSC Verona with a draft of 171 metres the deepest draft container vessel ever serviced at an Indian portVasavan noted that with MSC Verona anchoring at 171 metres Vizhinjam has created two records in a single day growing steadily with firm stepsSince commencing commercial operations in December 2024 Vizhinjam has handled 11 million TEUs twentyfoot equivalent units already surpassing its projected annual capacityOf the 500 vessels serviced so far 28 were Ultra Large Container Vessels ULCVs the highest number received at any single Indian portHighlighting the pride the port evokes among Malayalis worldwide Vasavan added No matter which part of the world one travels to the sight of the tagline Vizhinjam Thiruvananthapuram Kerala India brings immense pride to every MalayaliIndustry experts underline that Vizhinjams natural advantages 1820 metres of depth and minimal littoral drift make it uniquely positioned to handle the worlds largest container shipsLocated close to major eastwest shipping lanes the port is rapidly emerging as Indias premier deepwater transshipment hub reducing reliance on foreign ports and strengthening the nations presence in global trade routesWith milestones coming thick and fast Vizhinjam continues to cement its reputation as the Wonder Port of India underscoring Indias evolving maritime prowess and expanding economic horizonsThe port is located close to the famed beach destination Kovalam located about 14 km from the state capital city IANS https://dailyworld.in/business/500-ships-in-10-months-vizhinjam-proves-its-global-importance-kerala-minister-640108.html Tue, 23 Sep 2025 13:54:00 +0530 https://dailyworld.in/business/epfo-records-55-pc-rise-in-net-members-at-2104-lakh-in-july-640109.html New Delhi Sep 23 The Employees Provident Fund Organisation EPFO recorded a net addition of 2104 lakh members in July this year which represents a 555 per cent increase compared to the same month of the previous year signifying increased employment opportunities and heightened awareness of employee benefits according to an official statement issued on Tuesday EPFO enrolled around 979 lakh new subscribers in July this year A noticeable aspect of the data is the dominance of the young 1825 age group most of who are into their first jobs EPFO added 598 lakh new subscribers in the 1825 age group constituting a significant 6106 per cent of the total new subscribers added during the monthFurther the net payroll addition for the age group 1825 for July is approximately 913 lakh reflecting a growth of 409 per cent increase over the corresponding figure for the same month of the previous year This is in consonance with the earlier trend which indicates that most individuals joining the organised workforce are youth primarily firsttime job seekers the statement explainedApproximately 1643 lakh members who had exited earlier rejoined EPFO in July this year This figure displays a significant 1212 per cent yearoveryear growth compared to July 2024 These members switched their jobs and rejoined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus safeguarding longterm financial wellbeing and extending their social security protectionAround 280 lakhs new female subscribers joined EPFO in July Further the net female payroll addition during the month stood at around 442 lakh with a year over year growth of 017 per cent The growth in female member additions is indicative of a broader shift towards a more inclusive and diverse workforce the statement saidStatewise analysis of the data indicates that the top five states constitute around 6085 per cent of net payroll addition adding a total around 1280 lakh net payroll during the month Of all the states Maharashtra leads with the addition of 2047 per cent of net payroll numbers during the monthMaharashtra Karnataka Tamil Nadu Gujarat Haryana Delhi Telangana and Uttar Pradesh individually added more than 5 per cent of the total net payroll during the month as per the official data IANS https://dailyworld.in/business/epfo-records-55-pc-rise-in-net-members-at-2104-lakh-in-july-640109.html Tue, 23 Sep 2025 14:19:00 +0530 https://dailyworld.in/business/we-will-make-our-nation-proud-sridhar-vembu-after-ashwini-vaishnaw-opts-for-zoho-640114.html New Delhi Sep 23 Zohos Chief Scientist and Cofounder Sridhar Vembu has said that the companys engineers will continue to make the nation proud after Union Minister Ashwini Vaishnaw announced that he is shifting to Zohos homegrown platform for documents spreadsheets and presentations Reacting to Vaishnaws post on X Vembu wrote Thank you Sir this is a huge morale boost for our engineers who have worked hard for over two decades to build our product suite We will make you proud and make our nation proud Jai HindEarlier Vaishnaw had said he is moving to Zoho to support the call for Swadeshi I am moving to Zoho our own Swadeshi platform for documents spreadsheets amp presentations I urge all to join PM Narendra Modis call for Swadeshi by adopting indigenous products amp services he postedThe ministers statement comes after Prime Minister Modi in his letter to citizens urged people to buy MadeinIndia products during the festive season as part of the vision of Viksit Bharat 2047PM Modi had stressed that every purchase of local goods helps families artisans and workers while creating job opportunities for youthEvery time you buy a product made by our artisans workers and industries you are helping families earn their living and creating job opportunities for our youth the Prime Minister had said while also encouraging traders to promote local goodsThe Prime Minister also linked the appeal with the recent GST Bachat Utsav introduced under Next Generation GST reforms which is aimed at reducing household expenses simplifying business processes and supporting growth for farmers women traders MSMEs and othersZoho a software major with a strong focus on building indigenous technology solutions has often been highlighted as a successful example of Indias capability in creating globalstandard productsVaishnaws announcement to adopt Zoho reflects the governments larger push for selfreliance and greater use of indigenous platforms IANS https://dailyworld.in/business/we-will-make-our-nation-proud-sridhar-vembu-after-ashwini-vaishnaw-opts-for-zoho-640114.html Tue, 23 Sep 2025 14:24:00 +0530 https://dailyworld.in/business/mp-govts-helicopter-service-plan-to-boost-tourism-connectivity-640121.html Bhopal Sep 23 In a major push to enhance tourism and regional connectivity the Madhya Pradesh government has unveiled a helicopter service plan covering three strategic sectors across the state The initiative designed under a PublicPrivate Partnership PPP model aims to link key cultural religious and commercial destinations through air travel making Madhya Pradesh one of the first states in India to adopt such a comprehensive aviationbased tourism strategy Kailash Vijayvargiya state urban development minister and government spokesperson said here on Tuesday after a cabinet meetingThe first sector includes Indore Ujjain Omkareshwar Mandu Maheshwar Gandhi Sagar Mandsaur Neemuch Hanuman Khandwa Banpur Barwani Rajpur Ratlam Jharsuguda Nalkhara and Bhopal These locations are known for their historical significance and scenic beauty and the helicopter service is expected to make them more accessible to domestic and international touristsThe second sector connects Bhopal with destinations such as Pachmarhi Tamia Chhindwara Sanchi Datia Damoh Gwalior Shivpuri Kucha Ochha Guna Rajgarh Sagarput Vaikunth and Timgarh This route is designed to support heritage tourism and pilgrimage circuits with Bhopal and Indore serving as central hubs said the ministerThe third sector focuses on eastern and central Madhya Pradesh linking Jabalpur Kanha National Park Chitrapur Sarasi Parsali Mehar Satna Panna Khajuraho Patti Rewa Sindori Amarkantak Sini Seedi Manda Pech Dandori and again Bhopal and Indore This route is expected to attract ecotourists and wildlife enthusiasts especially with Kanha and Panna being prominent tiger reserves the ministers saidIndore featured prominently across all three sectors is being positioned as the aviation and commercial hub of Central IndiaWith existing helicopter services already operating in the city the expansion is expected to catalyse both tourism and business travelOfficials believe that improved air connectivity will not only reduce travel time but also stimulate economic activity in remote and underserved regionsThe helicopter tourism plan is part of a broader vision to integrate aviation into the states development strategy By leveraging the PPP model the government aims to ensure affordability operational efficiency and private sector innovationAs the rollout begins stakeholders anticipate a surge in tourist footfall and commercial engagement across Madhya Pradeshs diverse landscape IANS https://dailyworld.in/business/mp-govts-helicopter-service-plan-to-boost-tourism-connectivity-640121.html Tue, 23 Sep 2025 14:56:00 +0530 https://dailyworld.in/business/tractor-sales-to-grow-4-7-pc-in-fy26-2-wheeler-industry-also-set-for-healthy-growth-report-640127.html New Delhi Sep 23 The tractor segment in India is expected to grow by 47 per cent in FY2026 while the twowheeler industry is also likely to record healthy growth a new report said on Tuesday The forecast is supported by abovenormal rainfall strong rural incomes festive demand and the recent GST rate cuts that are expected to improve affordability and boost sales according to the data compiled by rating agency ICRAThe tractor industry has already shown strong performance in FY2026 so far Wholesale volumes grew 282 per cent yearonyear YoY in August 2025 while cumulative growth for the first five months of the fiscal stood at 117 per centRetail sales in August also recorded a sharp 301 per cent rise compared to the same month last year reflecting positive farmer sentiment and healthy rainfallIndia has received 108 per cent of the longperiod average rainfall till September 17 which has boosted agricultural activity and rural demandICRA said that the recent cut in GST rates on tractors to 5 per cent will further lift demand during the upcoming festive seasonThe industry is also preparing for a possible round of prebuying before the TREM V emission norms come into effect from April 1 2026Tractor manufacturers are expected to maintain strong financial profiles supported by steady demand operating leverage and stable raw material costsIn the twowheeler industry wholesale volumes rose by 72 per cent yearonyear YoY in August to 18 million units as companies pushed dispatches ahead of the festive seasonHowever retail sales in August grew by only 22 per cent due to excess rainfall in some regions and customers delaying purchases in anticipation of GST benefits A stronger demand recovery is expected during the festive seasonExports gave further support to the segment with overseas shipments rising by 275 per cent in August compared to the same period last yearElectric twowheeler sales also continued to grow steadily with 104725 units sold in August a 18 per cent increase from the previous monthEV penetration in the twowheeler category remained stable at around 67 per cent the rating agency saidLooking ahead ICRA estimates domestic twowheeler volumes to grow by 69 per cent in FY2026The report said this will be supported by replacement demand urban market recovery healthy rural incomes due to good monsoon rainfall and the recent GST rate cut that will make vehicles more affordable IANS https://dailyworld.in/business/tractor-sales-to-grow-4-7-pc-in-fy26-2-wheeler-industry-also-set-for-healthy-growth-report-640127.html Tue, 23 Sep 2025 15:30:00 +0530 https://dailyworld.in/business/tractor-sales-to-grow-4-7-pc-in-fy26-2-wheeler-industry-also-set-for-healthy-growth-report-640128.html New Delhi Sep 23 The tractor segment in India is expected to grow by 47 per cent in FY2026 while the twowheeler industry is also likely to record healthy growth a new report said on Tuesday The forecast is supported by abovenormal rainfall strong rural incomes festive demand and the recent GST rate cuts that are expected to improve affordability and boost sales according to the data compiled by rating agency ICRAThe tractor industry has already shown strong performance in FY2026 so far Wholesale volumes grew 282 per cent yearonyear YoY in August 2025 while cumulative growth for the first five months of the fiscal stood at 117 per centRetail sales in August also recorded a sharp 301 per cent rise compared to the same month last year reflecting positive farmer sentiment and healthy rainfallIndia has received 108 per cent of the longperiod average rainfall till September 17 which has boosted agricultural activity and rural demandICRA said that the recent cut in GST rates on tractors to 5 per cent will further lift demand during the upcoming festive seasonThe industry is also preparing for a possible round of prebuying before the TREM V emission norms come into effect from April 1 2026Tractor manufacturers are expected to maintain strong financial profiles supported by steady demand operating leverage and stable raw material costsIn the twowheeler industry wholesale volumes rose by 72 per cent yearonyear YoY in August to 18 million units as companies pushed dispatches ahead of the festive seasonHowever retail sales in August grew by only 22 per cent due to excess rainfall in some regions and customers delaying purchases in anticipation of GST benefits A stronger demand recovery is expected during the festive seasonExports gave further support to the segment with overseas shipments rising by 275 per cent in August compared to the same period last yearElectric twowheeler sales also continued to grow steadily with 104725 units sold in August a 18 per cent increase from the previous monthEV penetration in the twowheeler category remained stable at around 67 per cent the rating agency saidLooking ahead ICRA estimates domestic twowheeler volumes to grow by 69 per cent in FY2026The report said this will be supported by replacement demand urban market recovery healthy rural incomes due to good monsoon rainfall and the recent GST rate cut that will make vehicles more affordable IANS https://dailyworld.in/business/tractor-sales-to-grow-4-7-pc-in-fy26-2-wheeler-industry-also-set-for-healthy-growth-report-640128.html Tue, 23 Sep 2025 15:31:00 +0530 https://dailyworld.in/business/icici-bank-to-clear-cheques-on-same-day-from-oct-4-640142.html New Delhi Sep 23 ICICI Bank has announced a major change to its cheque settlement process aimed at reducing delays and improving customer convenience From October 4 cheques submitted across the bank branches will be cleared and credited to accounts within one working day according to the banks official website The action is consistent with the Reserve Bank of Indias RBI new cheque clearing system which aims to expedite settlements The previous batchbased procedure will be replaced by the new framework which will clear cheque within hours of submissionThe Cheque Truncation System CTS which sends an electronic image of the check and its details to the drawee bank is currently used by banks This removes the need for cheques to be physically transferred but when deposited in drop boxes or automated teller machines settlement usually takes two working daysAdditionally ICICI Bank has emphasised the significance of its Positive Pay feature which gives highvalue cheques an additional degree of securityTo avoid fraud customers can electronically preconfirm important details before writing cheques for more than Rs 50000 For cheques totaling more than Rs 5 lakh the positive pay feature is mandatory otherwise the cheques will be returned The RBIs dispute resolution process will only apply to cheques that have been verified under Positive PayThe RBI declared in its August 2025 directive that batch clearing would give way to continuous clearing and settlement Phase 1 will begin on October 4 2025 and Phase 2 will begin on January 3 2026 cheques presentations will be permitted starting on October 4 during a single daily session from 1000 am to 400 pmCustomers are advised to ensure all cheque details are accurate to avoid rejection The amount in words and figures must match the date must be valid and there should be no overwriting in the payees name or amount The drawers signature must also match the banks records IANS https://dailyworld.in/business/icici-bank-to-clear-cheques-on-same-day-from-oct-4-640142.html Tue, 23 Sep 2025 16:11:00 +0530 https://dailyworld.in/business/amit-shah-inaugurates-startup-conclave-in-gujarat-over-170-showcase-innovations-640144.html Gandhinagar Sep 23 IANS Union Home and Cooperation Minister Amit Shah on Tuesday inaugurated the 2day Startup Conclave 2025 at Mahatma Mandir bringing founders investors and policymakers from across India together for a wideranging showcase and policy dialoguenbspAccompanied by Gujarat Chief Minister Bhupendra Patel and Higher Education Minister Rushikesh Patel HM Shah described the countrys youth as moving from jobseekers to jobcreators and urged investors to back earlystage venturesnbspHe said startups have provided employment to roughly 179 million people and noted that 48 per cent of new startups are founded by women statistics he cited to underline the sectors growing social and economic footprintThe Startup Conclave is a platform to convert Indias knowledge and innovation into jobs and businesses HM Shah said calling on investors to help new startups grow and predicting a future where startups will in turn make investors bignbspOrganisers said more than 170 startups are exhibiting over the two days presenting products and services across sectors including technology healthcare agritech fintech and green energy The event features an exhibition of prototypes and demonstrations a roundtable conference that brings founders into direct dialogue with industry experts and seven themed sessions focused on scaling innovation financing models and universityindustry linkagesCM Bhupendra Patel welcomed the conclave as an opportunity to reinforce Gujarats position as an entrepreneurial hub while Higher Education Minister Rushikesh Patel highlighted the role of universities and research institutions in mentoring earlystage companies and translating academic research into commercial venturesnbspParticipants said the conclave offered muchneeded visibility and networking opportunities but flagged persistent challenges Access to earlystage capital and pilot customers remains a bottleneck for many founders one exhibitor saidInvestors in attendance reiterated the need for clearer pathways for pilot procurement and sectorspecific incubation particularly for climate and health tech startups A roundtable discussion held on the sidelines examined practical steps to strengthen the ecosystem including improvements to beneficiary registries blended finance mechanisms for climate tech and incentives to encourage institutional procurement from startupsOrganisers said the conclave aims to generate actionable policy recommendations for both state and central governments and to launch a matchmaking platform to connect startups with investors and procurement opportunitiesAs the twoday programme continues the conclaves impact will be measured by its ability to move beyond rhetoric to secure followthrough concrete investor commitments pilot projects with government partners and policy changes that ease the route from prototype to scale For many founders on the floor the immediate hope is simple convert exposure into funding customers and contracts that sustain young ventures beyond proof of concept https://dailyworld.in/business/amit-shah-inaugurates-startup-conclave-in-gujarat-over-170-showcase-innovations-640144.html Tue, 23 Sep 2025 16:16:00 +0530 https://dailyworld.in/business/stock-market-settles-flat-auto-and-financial-services-stock-gain-640154.html Mumbai Sep 23 The domestic equity indices settled flat on Tuesday amid persistent selling in IT stocks amid buying in the auto and financial services sectors Sensex ended the session at 8210210 down 5787 points or 007 per cent The 30share index started the session flat at 8214737 against last sessions closing of 8215997 The index remained rangebound amid selling in IT and FMCG stocksNifty closed at 2516950 down 3285 points or 013 per centThe markets experienced significant volatility on the Nifty indexs weekly expiry day The Nifty formed a high wave candlestick pattern on the daily chart indicating a consolidation phase marked by trader indecision and a lack of clear directional conviction an analyst saidThe index has strong psychological support at the 25000 level and as long as it holds above this mark a pullback towards the 2530025400 zone remains likely the analyst addedTech Mahindra Trent Ultratech Cement Hindustan Unilever Asian Paint Eternal ITC Bharti Airtel HCL Tech Sun Pharma and HDFC Bank were the top losers While Axis Bank Bajaj Finance Maruti SBI Kotak Bank Tata Steel NTPC Tata Motors Mahindra and Mahindra and PowerGrid settled higherSectoral indices experienced a mixed approach Nifty Bank rose 225 points or 041 per cent Nifty Fin Services ended the session 31 points or 012 per cent higher and Nifty Auto surged 167 points or 062 per cent Meanwhile Nifty FMCG fell 725 points or 129 per cent and Nifty IT slipped 251 points or 071 per centThe broader indices followed the trend as well Nifty Smallcap 100 dipped 97 points or 053 per cent Nifty Midcap 100 fell 202 points or 035 per cent and Nifty 100 ended the session 48 points or 019 per centThe domestic equity market traded rangebound and ended flat indicating the continuation of the consolidation Broader sentiment stayed cautious with small and midcap stocks lagging the benchmarks Sectorwise autos metals and financials gained on signs of robust festive demand postGST cuts while FMCG and realty stocks came under pressure from profit booking according to an market analyst IANS https://dailyworld.in/business/stock-market-settles-flat-auto-and-financial-services-stock-gain-640154.html Tue, 23 Sep 2025 16:56:00 +0530 https://dailyworld.in/business/oecd-raises-indias-growth-by-40-bps-to-67-pc-in-2025-over-domestic-demand-gst-reforms-640155.html New Delhi Sep 23 The Organization for Economic Cooperation and Development OECD on Tuesday raised Indias GDP growth by 40 bps to 67 per cent in 2025 from its earlier projection of 63 per cent in June driven by strong domestic demand and robust GST reforms The OECDs latest World Economic Outlook mentioned that in India higher tariff rates will weigh on the export sector but overall activity is anticipated to be supported by monetary and fiscal policy easing including the reform to the Goods and Services Tax GST with growth projected to be 67 per cent in 2025 and 62 per cent in 2026The food price inflation has declined sharply in India helped by strong domestic supply and export restrictions said OECD in its latest reportGlobal growth proved more resilient than expected in the first half of 2025 especially in many emerging marketsThe OECD raised its growth forecast for the global economy to 32 per cent for this year but kept its 2026 forecast steady at 29 per cent saying it expects global trade uncertainties sparked by US tariffs will likely contract investment and trade in the second half of 2025The frontloading of goods production and trade ahead of the introduction of higher US tariff rates was an important source of support with industrial production growth in the first half of the year exceeding the average pace of 2024 in most G20 economies it addedUS tariffs on imports from almost all countries have increased since May reaching an estimated effective rate of 195 per cent at the end of August the highest since the mid1930sWhile the full impact of tariff increases is still unfolding early signs of effects are visible in consumer behaviour labour markets and prices Labour markets are softening with higher unemployment and fewer job openings in some economies while disinflation has stalled in many economies as food prices rose and services inflation remained persistent according to the OECDLooking ahead downside risks loom large further tariff hikes increased concerns about fiscal risks renewed inflation pressures could weigh on growth Financial market repricing including volatile crypto assets could pose additional financial stability concerns On the upside easing trade restrictions or faster advances in AI could support stronger outcomes IANS https://dailyworld.in/business/oecd-raises-indias-growth-by-40-bps-to-67-pc-in-2025-over-domestic-demand-gst-reforms-640155.html Tue, 23 Sep 2025 16:56:00 +0530 https://dailyworld.in/business/gst-20-reforms-herald-record-sales-across-india-consumers-rejoice-640162.html New Delhi Sep 23 IANS The GST 20 reforms which kicked in on Monday saw a tremendous response from shopkeepers auto dealers and every Indian householdnbspArriving in perfect sync with the first day of Navratri the reformed tax regime gave the common man a direct reason to rejoice with lower prices simplified slabs and immediate relief on daily essentialsnbspPM Narendra Modi called GST 20 a reform dedicated to the people of India and true to his words it felt less like a dry policy change and more like a festive bonanza Car showrooms witnessed serpentine queues online carts overflowed with orders and buzzed with recordbreaking festive salesThe automobile sector stole the spotlight with historic numbers Under the new GST structure smaller sub4 metre cars were moved into the 18 per cent slab while the compensation cess on automobiles was completely removednbspOn Day 1 of GST 20 Maruti recorded 80000 enquiries and delivered 30000 cars its highest singleday performance in 35 years Bookings for small cars surged 50 per cent compared to usual festival season ratesnbspDealer billings for Hyundai also shot up 11000 on that single day representing its best performance in five years Tata Motors also recorded 10000 car deliveries and over 25000 enquiries on the first day of Navaratri marking a strong start to the festive season with a noticeable increase in showroom walkins higher conversions and a growing order bookFor countless families GST 20 transformed longpostponed dreams into reality Automobiles became not just more accessible but a true festive purchasenbspThe excitement extended to the digital marketplace where shoppers rushed to stock up on fashion home essentials and festive musthavesnbspFlipkart and Amazon kicked off their festive sale events on Monday for loyalty programme users with sellers and brands reporting strong early traction boosted by the GST cutnbspFashion brand The Pant Project saw a 1520 per cent jump over last year while Shadow Etail a seller on both marketplaces saw traffic in the home essentials segment surge 151 per cent from last weekFashion brands like Snitch reported a 40 per cent jump in online ordersnbspElectronics turned into another big success story under GST 20 with households taking advantage of reduced prices on highdemand products While prices of split ACs have come down by Rs 30005000 highend TVs have seen a price cut of up to Rs 85000nbspCompanies like Haier reported almost 2 times the sales compared to a typical Monday with many prebookings even before the new rates came into effectnbspBlue Star estimated that GST 20 Day 1 sales were around 20 per cent higher compared to the same day last yearTV sales also surged especially in the 43inch and 55inch segments Companies like Super Plastronics Pvt Ltd selling largely through Flipkart reported a 3035 per cent growth in salesnbspGST 20 delivered instant relief and sparked consumer joy from Day One It reduced household expenses revived demand across industries and ignited the festive season with recordbreaking sales From cars and electronics to groceries and fashion every sector felt the surgenbspThis was more than tax reform It was a festival of savings a boost to demand and the real Diwali gift from PM Modi to the people of India https://dailyworld.in/business/gst-20-reforms-herald-record-sales-across-india-consumers-rejoice-640162.html Tue, 23 Sep 2025 17:49:00 +0530 https://dailyworld.in/business/headcount-of-indias-internet-subscribers-crosses-1-002-million-during-apriljune-640173.html New Delhi Sept 23 India is one of the fastestgrowing digital nations in the world with internet connectivity playing a crucial role in its progress This momentum is reflected in the staggering 100285 1002 bn million internet subscribers reported during AprilJune 2025 highlighting the scale and impact of Indias digital revolution according to an official statement issued on Tuesday In line with the vision of Viksit Bharat 2047 satellite internet is emerging as a key enabler of digital connectivity extending reliable access to remote and underserved regions while strengthening critical applications in defence and disaster responseRural internet penetration stands at approximately 46 subscribers per 100 population highlighting the need for satellite internet to bridge the digital divide the statement saidIndias broadband reach is steadily expanding through highthroughput satellites HTS developed by ISRO which use advanced spotbeam technology to provide faster speeds and higher capacity India has a fleet of 19 operational communication satellites among which GSAT19 GSAT29 GSAT11 and GSATN2 are specifically geared towards boosting Indias broadband servicesThese satellites are designed to enhance internet connectivity in underserved areas support inflight communication defence networks and disaster management Together they form the backbone of satellitebased broadband infrastructure in India complementing groundbased networks like BharatNetIndias satellite communication Satcom ecosystem is undergoing a transformative shift Traditionally dependent on the Geostationary Satellite GSAT of the Indian Space Research Organisation ISRO and other satellite operators series the sector is now witnessing more active private participation and the adoption of nextgeneration Low Earth Orbit LEO and Medium Earth Orbit MEO satellite systems The rollout of space sector reforms has enabled private sector participation in space activities India is moving towards LEO and MEObased satellite internet services to deliver faster and more reliable broadband services nationwide as a key driver of Digital India the statement explainedOver 10 satellite operators including the licensed Starlink have entered India with the private sector allowed up to 100 per cent FDIHowever internet penetration remains limited in certain regions of the country underscoring the need for satellite internet to complement existing networksSatellite internet refers to the internet service provided through satellites placed in Geostationary Orbits GSO or NonGeostationary Orbits NGSOFor realising the Digital India vision of a digitally inclusive nation satellite internet is an emerging technology with the potential to provide connectivity from space to any location This makes it particularly valuable for remote villages hilly terrains border areas and islands where terrestrial internet services are either difficult to reach or economically unviableThrough the power of space technology India is reinforcing its strategic autonomy and leadership in spacebased communications ensuring that the benefits of connectivity reach every citizen From operationalising HTS to enabling private participation in satellite communications the country is steadily bridging its digital divide the statement added IANS https://dailyworld.in/business/headcount-of-indias-internet-subscribers-crosses-1-002-million-during-apriljune-640173.html Tue, 23 Sep 2025 18:22:00 +0530 https://dailyworld.in/business/trai-recommends-allowing-private-fm-radio-to-broadcast-10-minutes-of-news-every-hour-640174.html New Delhi Sep 23 In a major move that could change the face of private FM radio in India the Telecom Regulatory Authority of India TRAI on Tuesday recommended that private FM radio operators be allowed to broadcast news and current affairs programmes for up to 10 minutes in every clock hour The regulator said the news content must follow the programme code prescribed by the central governmentPrivate FM Radio operators should be allowed to broadcast news and current affairs programmes limited to 10 minutes in each clock hour the telecom regulatory body saidIt also proposed that authorised FM operators be permitted to stream their radio programmes online at the same time but without usercontrolled features like download playback or replayThe authorised entity shall follow the programme code for news content as prescribed by the Central Government from time to time it addedThe recommendations were part of TRAIs detailed report on Reserve Prices for auction of FM Radio channels prepared after the Ministry of Information and Broadcasting MIB sought guidance on setting reserve prices for FM auctions in several citiesAfter issuing a consultation paper in August 2024 and holding an open house discussion in October TRAI finalised its recommendationsIt suggested that the reserve price for auction should be set at Rs 083 crore for Bilaspur Rs 120 crore for Rourkela and Rs 097 crore for RudrapurFor category E cities in hill states and border regions the reserve price should be Rs 375 lakh TRAI addedThe regulator also recommended that FM operators in category E cities should have a minimum net worth of Rs 30 lakh while existing net worth rules for other categories of cities should continueFor these smaller cities the annual authorisation fee should be 2 per cent of Adjusted Gross Revenue AGR for the first three years and then 4 per cent thereafter AGR TRAI clarified will be calculated after excluding GST from gross revenueTo support the financial health of FM radio operators TRAI suggested delinking the annual licence fee from the onetime entry fee offering more flexible payment options similar to spectrum auctionsIt also proposed that Prasar Bharati share its land towers and transmission infrastructure with private broadcasters at concessional rentals while fully recovering operational costs IANS https://dailyworld.in/business/trai-recommends-allowing-private-fm-radio-to-broadcast-10-minutes-of-news-every-hour-640174.html Tue, 23 Sep 2025 18:22:00 +0530 https://dailyworld.in/business/nearly-73-pc-rural-households-expect-income-growth-by-next-year-report-640188.html New Delhi Sep 23 Nearly 73 per cent of households in rural areas expect their income to grow by next year according to a report The report is based on a bimonthly survey conducted by the National Bank for Agriculture and Rural Development Nabard in SeptemberWhile this represents a rise from the 702 per cent of respondents expecting their income to rise a year ago it slightly declined from 747 per cent in July this yearIt is possible that Trump tariffrelated risks for the farm and nonfarm exports and the associated impact on rural income and employment might have dampened the sentiments of rural households expressed through this survey revealed the Nabard surveyFurther just 18 per cent of households reported a decrease in income over the last year in September It is the lowest level recorded since the survey began in September 2024 In comparison nearly 24 per cent of rural households reported a fall in income last yearHowever about 45 per cent of rural households reported stagnation in income the highest in all seven surveys conducted over the past yearIn September consumption among rural households also saw an increase more than 76 per cent In comparison in September 2024 more than 80 per cent of respondents had reported higher consumptionWhile the consumptionled buoyancy in the rural economy continues there is some slackening of momentum in recent months partly reflecting the impact of severe floods and landslides in a few states including Himachal Pradesh and Punjab Nabard saidA major part of the survey was completed before the announcement of the GST reduction on September 3 2025 Therefore household responses do not reflect the expected positive impact of the measure on consumption the report said IANS https://dailyworld.in/business/nearly-73-pc-rural-households-expect-income-growth-by-next-year-report-640188.html Tue, 23 Sep 2025 19:28:00 +0530 https://dailyworld.in/business/gst-20-brings-immense-excitement-amongst-car-buyers-dealers-640193.html LucknowMalkangiri Odisha Sep 23 A wave of excitement is sweeping across showrooms after the implementation of the new GST reform with a sharp rise in customer footfall and vehicle sales Shabir who booked a Hyundai Creta told IANS that the revised GST rates helped him save nearly Rs 70000Rs 80000 Ram Singh another buyer said that companies are now passing on the full GST benefits to customers He purchased a Hyundai i10 and saved about Rs 70000 compared to the earlier priceAccording to Asim Assistant General Manager at a Hyundai dealership in Lucknow the reform has received an overwhelmingly positive response The number of firsttime buyers is rising and with the GST benefits fully passed on prices have come down significantly he saidOther cities exhibit a similar level of enthusiasm Customers in Odishas Malkangiri reported that lower GST rates have made cars and twowheelers more reasonably priced than they were previouslyWith effect from September 22 the new GST rates have reduced the tax to 18 per cent for gasoline vehicles up to 1200cc and under four meters in length and diesel vehicles up to 1500cc and under four metersPreviously subject to 50 per cent GST larger vehicles will now only be subject to 40 per cent The tax rate for twowheelers up to 350cc has been lowered from 28 per cent to 18 per centMeanwhile shopkeepers wholesalers and every Indian household responded overwhelmingly to the GST 20 reforms which went into effect on MondayThe reformed tax regime which coincided perfectly with the first day of Navratri provided the general public with immediate relief on daily necessities simplified slabs and reduced pricesPM Narendra Modi called GST 20 a reform dedicated to the people of India and true to his words it felt less like a dry policy change and more like a festive bonanza Car showrooms witnessed serpentine queues online carts overflowed with orders and buzzed with recordbreaking festive sales IANS https://dailyworld.in/business/gst-20-brings-immense-excitement-amongst-car-buyers-dealers-640193.html Tue, 23 Sep 2025 19:36:00 +0530 https://dailyworld.in/business/new-niti-aayog-report-delves-deeper-into-indias-innovation-story-640194.html New Delhi Sep 23 NITI Aayog on Tuesday a landmark report capturing Indias remarkable journey in science technology and innovation providing a detailed assessment of the countrys achievements challenges and opportunities to strengthen its position as a global innovation hub The report provides a holistic view of Indias innovation ecosystem encompassing national and state initiatives industry and grassroots innovations startups universityindustrygovernment collaborations and Indias positioning in global innovation rankings It also identifies systemic challenges and lays out a forwardlooking roadmap that includes scaling successful models fostering deep technology innovation strengthening knowledge creation enhancing global integration and building innovation capacity across states At the launch of the report titled Pathways to Progress Analysis and Insights into Indias Innovation Story Dr Deepak Bagla Mission Director Atal Innovation Mission AIM elaborated on the transformative role of AIM in nurturing entrepreneurial talent fostering innovation at scale and creating a vibrant startup culture across the countryDr VK Saraswat Member NITI Aayog emphasised the strategic importance of science technology and innovation in shaping Indias development trajectory He noted that the report provides critical evidencebased insights that can guide policymaking strengthen institutional linkages and enhance collaboration between academia industry and governmentUnion Minister Dr Jitendra Singh emphasised that innovation in India is pervasive and not confined to frontier technologies alone He highlighted the governments initiatives to advance research promote technology development and facilitate the commercialization of innovations across all sectors He also underscored the importance of inclusive and contextdriven innovation that addresses realworld challenges while strengthening Indias overall capacity to compete globally and drive sustainable equitable growth said NITI AayogEducation Minister Dharmendra Pradhan underscored Indias progress in building a robust innovation ecosystem and stressed the importance of positioning Bharat as a global brand of excellence in knowledge science and technology He called for harnessing Indias youth talent and institutional strengths to drive innovation that is both scalable and inclusive IANS https://dailyworld.in/business/new-niti-aayog-report-delves-deeper-into-indias-innovation-story-640194.html Tue, 23 Sep 2025 19:37:00 +0530 https://dailyworld.in/business/vande-bharat-sleeper-train-to-be-launched-soon-ashwini-vaishnaw-640196.html New Delhi Sep 23 IANS Railway Minister Ashwini Vaishnaw on Tuesday said the Vande Bharat Sleeper trains will be launched soon as the second train is likely to be completed by the middle of next month while the first train is ready for use after having undergone the required tests and trial runsnbspThe two trains have to be launched together to ensure regular services on an overnight journeynbspThe first train has cleared all the tests and trial runs and is currently at Delhis Shakur Basti Coaching Depot officials saidnbspBriefing the media Vaishnaw said that the second train is being manufactured and will possibly be ready by October 15Both the trains will be launched together he saidnbspThe minister emphasised that the second train is important to maintain the continuity of regular servicesnbspThats why we are waiting for a second rake Once we get it we will decide on any route and start operations Vaishnaw addednbspMeanwhile expectations are that the trains will be launched on the New DelhiPatna route against the backdrop of the upcoming Bihar Assembly elections voting for which is scheduled to take place at the end of the yearManufactured by BEML using Integral Coach Factory ICF technology the Vande Bharat Sleeper train will comprise 16 coaches segmented into AC First Class AC 2Tier and AC 3Tier It will be able to carry 1128 passengers and operate at a top speed of 180 kmph making it one of the fastest overnight train services in the countrynbspThe train promises worldclass amenities such as integrated reading lights with USB charging automated announcement and visual information systems security cameras modular pantries and disabledfriendly berths and toiletsVaishnaw and Minister of State for Railways Ravneet Singh Bittu also briefed journalists on the railway projects in PunjabnbspThe minister said the upcoming 18kilometre RajpuraMohali line will connect the area to Chandigarh via the shortest route on the AmbalaAmritsar main linenbspBesides providing direct connectivity between Rajpura and Mohali and reducing travel distance by approximately 66 km the railway line will also ease traffic on the existing RajpuraAmbala route and shorten the AmbalaMorinda linkVaishnaw said the Railway Ministry has also proposed to launch a new Vande Bharat train between New Delhi and Firozpur Cantonment which will cover the Faridkot Bhatinda W Dhuri Patiala Ambala Cantonment Kurukshetra and Panipat stationsnbspAccording to the Railways the train will cover a distance of 486 kilometres between Delhi and Firozpur Cantonment in 6 hours and 40 minutesnbspVaishnaw said I will request the Prime Minister to approve the FirozpurDelhi Vande Bharat train https://dailyworld.in/business/vande-bharat-sleeper-train-to-be-launched-soon-ashwini-vaishnaw-640196.html Tue, 23 Sep 2025 19:48:00 +0530 https://dailyworld.in/business/indian-it-firms-to-tackle-h-1b-visa-fee-hike-with-local-hiring-offshoring-and-nearshoring-report-640202.html New Delhi Sep 23 Indian IT companies are expected to adjust their strategies to deal with the recent sharp hike in H1B visa fees announced by the US administration a new report said on Tuesday On September 19 US President Donald Trump signed an executive order imposing a fee of 100000 for new H1B visa applications a steep jump from the existing cost of around 1500The move is likely to hit Indian IT firms which have traditionally relied on the visa program to send skilled workers to the USThe data compiled by Nuvama however said that the overall impact on Indian IT companies may remain limited as the sector has already reduced its dependence on H1B visas over the past eight yearsThis shift has given companies a head start in cushioning the effects of the latest policy change the report saidAccording to Nuvama firms are expected to tackle the higher costs through measures such as nearshoring offshoring and hiring more local talent in the US While some shortterm financial and operational challenges are unavoidable in the longer run increased offshoring is expected to ease the pressureThe report also noted that most Indian IT services firms may avoid paying the new fee altogether as it makes H1B visas uneconomicalThe median salary for Indian IT workers on H1B visas ranges from 80000 to 120000 and adding another 100000 fee would make the arrangement financially unviableInstead companies are likely to look at other options such as renegotiating contracts with clients to share costs hiring locally in the US or expanding nearshore operations in countries like Canada and Latin America which share the same time zone as the USA stronger focus on offshoring to India or other costefficient regions is also expected as per the reportThe report added that while the industry will face volatility in the near term the situation is likely to stabilise as IT companies adapt to the new environment and discover more efficient ways of doing business IANS https://dailyworld.in/business/indian-it-firms-to-tackle-h-1b-visa-fee-hike-with-local-hiring-offshoring-and-nearshoring-report-640202.html Tue, 23 Sep 2025 20:46:00 +0530 https://dailyworld.in/business/no-tax-rebate-under-section-87a-on-short-term-capital-gains-taxpayers-asked-to-clear-dues-by-dec-cbdt-640214.html New Delhi Sep 23 The Central Board of Direct Taxes CBDT has once again clarified that taxpayers cannot claim tax rebate under Section 87A on income that is taxed at special rates such as shortterm capital gains STCG In financial year 202324 many taxpayers claimed rebate on shortterm capital gains but the Income Tax department denied their requests and raised demands for the pending taxesThe department has now asked such taxpayers to clear their dues by December 31 2025 This applies even to those cases where the rebate was mistakenly given earlierCBDT in its circular dated September 19 said that in several cases returns were processed incorrectly and rebate was allowed on incomes chargeable to special tax ratesThese mistakes are now being corrected and fresh demands are being raised The circular also warned that any delay in payments could attract interest under Section 2202 of the IT ActHowever to reduce hardship for taxpayers the tax department has offered relief It has decided to waive the interest if the pending taxes are paid before December 31 2025Since July 2024 the income tax department has been rejecting rebate claims under Section 87A for taxpayers with income under Rs 7 lakh when it included shortterm capital gainsFor FY 202324 these gains were taxed at 15 per cent but from FY 202425 the rate has been increased to 20 per centThe rebate limit for FY 202324 was Rs 5 lakh under the old regime and Rs 7 lakh under the new regimeWhile this provision helped reduce tax liability to zero the rebate was not meant to cover income taxed at special rates like STCGThe issue had reached the Bombay High Court which in December 2024 asked the IT department to allow taxpayers to revise their returnsA 15day window in January 2025 was created for such revisions but later many taxpayers still received notices to pay their pending duesFinally the Union Budget 2025 cleared all confusion by stating that specialrate incomes including STCG under Section 111A will not be eligible for rebate under Section 87A from FY 202526 onwards IANS https://dailyworld.in/business/no-tax-rebate-under-section-87a-on-short-term-capital-gains-taxpayers-asked-to-clear-dues-by-dec-cbdt-640214.html Tue, 23 Sep 2025 22:04:00 +0530 https://dailyworld.in/business/nepals-ev-imports-slump-as-trade-routes-with-china-remain-shut-640227.html Kathmandu Sep 23 Nepals import of electric fourwheelers has slumped in the past two months largely due to the disruption of two key trade routes with China caused by massive landslides and floods According to the Department of Customs Nepal imported just 486 electric fourwheelers in the first two months of the current fiscal year 202526 which began midJuly This marks a sharp decline from the 1602 units imported during the same period in the last fiscalChina Nepals largest supplier of EVs recorded a drastic fall in exports with only 240 vehicles shipped in the twomonth period down from 1125 units last year India the secondlargest supplier also saw a decline exporting 207 vehicles compared to 475 units a year agoThe drop follows the closure of two major border crossings The RasuwagadhiKerung checkpoint has been shut since early July after floods destroyed the NepalChina Friendship Bridge a dry port and other infrastructure on the Nepal side Meanwhile the TatopaniNyalam crossing has been blocked for the past month by landslides though partial clearance was reported on MondayThe main reason behind the reduced import of electric vehicles from China is the blockade on these two trade routes Samir Shrestha Chief Marketing Officer at Cimex Inc Pvt Ltd the authorised distributor of BYD cars in Nepal told IANS We have started using the newlyopened Mustang route since midSeptember to bring in vehiclesThe Department of Customs recently announced that this border point has remained fully operational starting September 15 Nepals Central Bank has also stated in a recent notice that importers from Nepal could use this route to get goods from China through a letter of credit This arrangement means that the third trade route between Nepal and China has now been formally opened for international trade said Kishor Bartuala Information Officer at the customs department Earlier this route was being used for cross border trade of goods among the people of the bordering region only he revealedThe customs department said over 200 electric four wheelers were brought to Nepal from China after the opening of the border point for international trade last weekShrestha stressed that demand for Chinese EVs remains strong but acknowledged that some customers have cancelled bookings following concerns over vehicle damage during recent GenZ protests which left over 70 people dead and caused widespread destructionFor years Indiamade Internal Combustion Engine ICE vehicles dominated Nepals auto market But consumer preference has shifted sharply toward EVs giving Chinese brands a commanding presence Last fiscal Nepal imported 13578 electric fourwheelers with 752 per cent coming from China and the rest from India Germany the US and other countries IANS https://dailyworld.in/business/nepals-ev-imports-slump-as-trade-routes-with-china-remain-shut-640227.html Tue, 23 Sep 2025 23:25:00 +0530 https://dailyworld.in/business/govt-bonds-worth-rs-32-000-crore-coming-up-for-sale-on-september-26-640004.html New Delhi Sep 22 The Finance Ministry on Monday announced the sale of government bonds worth 32000 crore in two lots through auctions to be conducted by the Reserve Bank of India RBI in Mumbai on Friday September 26 The first lot comprises 668 per cent Government Security 2040 for a notified amount of 16000 crore while the second lot consists of 690 per cent Government Security 2065 also for a notified amount of 16000 croreBoth the lots will be sold through a price based auction using multiple price method the official statement saidThe Government of India will have the option to retain additional subscription up to 2000 crore against each security mentioned above The auctions will be conducted by the Reserve Bank of India Mumbai Office Fort Mumbai on FridayUp to 5 per cent of the notified amount of the sale of the securities will be allotted to eligible individuals and institutions as per the Scheme for NonCompetitive Bidding Facility in the Auction of Government SecuritiesBoth competitive and noncompetitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution EKuber system on September 26 2025The noncompetitive bids should be submitted between 1030 AM and 1100 AM and the competitive bids should be submitted between 1030 AM and 1130 AMThe result of the auctions will be announced on September 26 and payment by successful bidders will be on September 29 MondayThe Securities will be eligible for When Issued trading in accordance with the guidelines on When Issued transactions in Central Government Securities issued by the Reserve Bank of India vide circular No RBI20181925 dated July 24 2018 as amended from time to timeA government bond represents debt issued by a government and sold to investors to support spending Government bonds are considered lowrisk investments since the government backs them Because of their relatively low risk government bonds typically pay low interest rates IANS https://dailyworld.in/business/govt-bonds-worth-rs-32-000-crore-coming-up-for-sale-on-september-26-640004.html Mon, 22 Sep 2025 21:09:00 +0530 https://dailyworld.in/business/centre-secures-125-million-adb-loan-to-upgrade-urban-services-in-assam-640015.html New Delhi Sep 22 The Government of India and the Asian Development Bank ADB signed a 125 million loan agreement on Monday to enhance urban livability and bolster climate resilience in six district headquarters and Guwahati in Assam The project will benefit 360000 residents of Assam by delivering continuous metered water supply and upgrading stormwater management systems It also seeks to strengthen urban governance through institutional reforms and capacity buildingKey infrastructure investments in the Assam Urban Sector Development Project include the construction ofsix water treatment plants with a combined capacity of 72 million litres per day and 800 km distribution pipelines in the district headquarters of Barpeta Bongaigaon Dhubri Goalpara Golaghat and Nalbari The project will also deploy a realtime monitoring system aiming to maintain nonrevenue water below 20 per centIn Guwahati the project will enhance stormwater management in the Bahini Basin with flood diversion channels upgraded drainage systems and a naturebased retention pond to reduce flood discharge and improve groundwater rechargeThe project also includes the establishment of the Assam State Institute for Urban Development in collaboration with the Indian Institute of Technology Guwahati Additionally it will roll out a GISbased property tax database digital water billing systems and a volumetric water tariff structure across project towns to improve financial sustainability and service deliveryA strong emphasis on supporting women and girls and social inclusion is embedded in the project Activities include training women selfhelp groups in water operations establishing internships for collegeage women and conducting school outreach programmes to promote awareness of water sanitation and hygieneThe signatories to the loan agreement for the Assam Urban Sector Development Project were Juhi Mukherjee Joint Secretary Ministry of Finance on behalf of the Government of India and Mio Oka Country Director India Resident Mission for ADB IANS https://dailyworld.in/business/centre-secures-125-million-adb-loan-to-upgrade-urban-services-in-assam-640015.html Mon, 22 Sep 2025 22:13:00 +0530 https://dailyworld.in/business/i-urge-all-to-join-pm-modis-call-for-swadeshi-by-adopting-indigenous-products-amp-services-vaishnaw-640025.html New Delhi Sep 22 Union Minister Ashwini Vaishnaw on Monday announced that he is moving to Zoho a homegrown platform for documents spreadsheets and presentations Sharing the update on social media platform X he urged people to join Prime Minister Narendra Modis call for Swadeshi by adopting indigenous products and servicesI am moving to Zoho our own Swadeshi platform for documents spreadsheets amp presentations he wrote on XI urge all to join PM Narendra Modis call for Swadeshi by adopting indigenous products amp services Vaishnaw addedThe appeal comes just after Prime Minister Modi in a letter to the people of India urged citizens to support MadeinIndia products during the festive seasonPM Modi linked the move to the vision of Viksit Bharat 2047 and said buying swadeshi goods not only strengthens the economy but also helps local artisans workers and industriesEvery time you buy a product made by our artisans workers and industries you are helping families earn their living and creating job opportunities for our youth the Prime Minister had said while also encouraging traders to promote local goodsIn his message PM Modi highlighted that this years festive season has an added reason to celebrate with the launch of GST Bachat Utsav made possible by the Next Generation GST reformsThese reforms he said would reduce household expenses ease business operations and accelerate growth across all sections of society including farmers women youth traders and MSMEsThe Prime Minister also recalled the rollout of GST in 2017 as a turning point that freed citizens and businesses from the complexities of multiple taxes bringing relief under the idea of One Nation One TaxVaishnaws announcement to shift to Zoho reflects the governments broader push to adopt indigenous platforms and promote selfrelianceIt is also seen as a message to citizens to increasingly prefer swadeshi services and products in their daily lives in line with the Prime Ministers call for selfreliance and inclusive growth IANS https://dailyworld.in/business/i-urge-all-to-join-pm-modis-call-for-swadeshi-by-adopting-indigenous-products-amp-services-vaishnaw-640025.html Mon, 22 Sep 2025 22:19:00 +0530 https://dailyworld.in/business/nse-to-hold-diwali-muhurat-trading-session-on-october-21-640027.html New Delhi Sep 22 The National Stock Exchange NSE on Monday announced that it will conduct a special onehour Muhurat Trading session on October 21 on the occasion of Diwali to mark the beginning of the new Samvat year According to the exchange circular the trading window will open at 145 pm and close at 245 pm while a 15minute preopen session will be held from 130 pm to 145 pmTrade modifications will be allowed until 255 pm and all trades executed during the session will carry settlement obligations similar to regular trading hoursStock markets remain closed on Diwali Lakhsmi Puja but the symbolic Muhurat session is conducted annually to mark the start of the Vikram Samvat year in the Hindu calendarThis year the session coincides with the beginning of Samvat 2082The session will take place in the afternoon instead of the evening as is customary A similar session is anticipated to be held by the Bombay Stock Exchange BSE though the exact time has not yet been disclosedMuhurat trading is considered auspicious by traders and investors who believe that participating in the market during this period brings financial growth and prosperityWhile the session lasts for just an hour markets are typically volatile and sentiment often plays a larger role than profitability in trading decisionsTraders use this window to engage in both symbolic and meaningful trades with the belief that the practice will usher in wealth and good fortune in the new financial yearOver the years the Muhurat session has become a significant cultural and financial tradition blending market activity with festive celebrations and reflecting the enduring role of sentiment and optimism in Indian stock markets IANS https://dailyworld.in/business/nse-to-hold-diwali-muhurat-trading-session-on-october-21-640027.html Mon, 22 Sep 2025 22:20:00 +0530 https://dailyworld.in/business/despite-short-term-challenges-gst-20-will-yield-benefits-to-consumers-and-industry-640033.html New Delhi Sep 22 There has been a general reaction of relief and welcome with the new Goods and Services Tax GST slabs coming into effect beginning from Monday Essential goods healthcare insurance consumer durables and agricultural inputs now enjoy lower rates while luxury and sin goods are taxed at 40 per centThe reform aims to reduce the cost of living for households support manufacturing agriculture and servicesThis festive season lets celebrate the GST Bachat Utsav Lower GST rates mean more savings for every household and greater ease for businesses Prime Minister Narendra Modi posted on his X handle on Monday eveningCentral Board of Excise and Customs CBEC former Chairman Sumit Dutt Majumder said that GST 20 has some changes with a lesser number of slabs As a Member Central Excise and then Chairman of the CBEC he was associated with the preparations for the earlier GST regime He had also presented his views to the then Select Committee of the Rajya Sabha on the GST Constitution Amendment BillEven by the earlier GST regime in interstate transactions the destination state gets the money While the tax collection is done by the Centre there are rules laid out for transferring the money to states Majumder the author of two books on GST addedGST Networks GSTN first Chairman Navin Kumar also stressed the rules that are followed in transferring prescribed amounts to statesIn the previous regime too some states had apprehended losses Thus the Centre introduced compensation When the collection started growing these compensations were withdrawn he addedThough the earlier fiveyear compensation window ended in 2022 the Centre may introduce ad hoc transfers or cess adjustments to blunt state revenue shocksIt may also absorb part of the potential GST revenue loss initially to maintain national fiscal stability leveraging higher taxes on luxury and sin goods and broader compliance measuresTax collection on goods with lower GST rates is expected to fall initially because rates are now lower on many items According to the government the potential revenue shortfall without any buoyancy in volumes will be Rs 48000 crore a yearTherell be an initial effect but Im sure that with the restructured GST regime there will be an increase in revenue Kumar saidLower GST on essentials is expected to boost consumption particularly through increased sales of durables automotives and housing materialsAlso shortterm challenges are possible due to transition issues IT system challenges and workingcapital pressures especially among SMEsI think there should have been a transition period reflected MajumderIn branded products the prices are fixed So it will take time to adjust to the rates introduced today he pointed outHowever Kumar pointed out that there are mechanisms that can address such aspectsIf stock bearing earlier retail prices remains unsold after the revised GST rate came into effect rules prescribe that a revised MRP be put on it Thus both old and new prices are visible on the productTransitional issues such as preexisting inventory credits are addressed via postimplementation filing eg GSTR3B or monthly selfdeclaration return to be filed by October 20 to avoid input tax credit ITC mismatches discrepancy between the tax credit claimed by the recipient and the details furnished by the supplier but no general delay is provided IANS https://dailyworld.in/business/despite-short-term-challenges-gst-20-will-yield-benefits-to-consumers-and-industry-640033.html Mon, 22 Sep 2025 23:20:00 +0530 https://dailyworld.in/business/gst-reforms-will-boost-purchasing-power-and-benefit-all-sectors-traders-640041.html New Delhi Sep 22 Traders and business owners on Monday welcomed the next generation GST reforms saying the changes will increase purchasing power lower prices of essential items and give a big push to the economy They also praised Prime Minister Narendra Modi for introducing the measures during the festive seasonSK Sarda a branded clothing store owner said that the new GST framework has simplified the system and corrected earlier problems of multiple taxesHe pointed out that the government has already collected nearly Rs 55 lakh crore through GST which is being used for national development and defence purposesThe new reforms will put more money in peoples hands About Rs 25 lakh crore will flow into the market and this amount will multiply three times as it rotates through the economy This will create a turnover of nearly Rs 7 lakh crore giving a major boost to employment and income across different sectors he addedRamesh Periwal who runs a diagnostics business in Sikkim and is also president of the local Chemists Association said the reforms will be especially beneficial for the health sectorMedicines have become much cheaper Some drugs are now under zero tax while others that were earlier taxed at 12 or 18 per cent have been brought down to 5 per cent he saidHospitals will also save on essential reagents and chemicals that are now taxed lower and the benefit will go directly to patients he addedPeriwal highlighted that the reforms will also give a strong push to tourism in Sikkim as hotel stays below Rs 7500 will now attract lower GSTTourism is the backbone of Sikkims economy and these changes will bring more visitors and boost the industry he saidSmall business owner Vinay Chandra said the decision to bring milk and other dailyuse food items under the zero per cent GST category is a major reliefEarlier many essentials had 5 per cent GST but now shifting them to zero will directly benefit poor families It will also reduce kitchen expenses and support household budgets he saidUnion Finance Minister Nirmala Sitharaman also visited Laxmi Nagar in the national capital after the implementation of the new GST reforms where she interacted with shopkeepers and customersSpeaking to the media during her visit the Finance Minister said The response to the GST reforms has been very positive Although it is a market holiday today many shops are open I observed that shopkeepers are passing on the benefits of GST reductions to their customersShe added that the Narendra Modi governments decision has brought relief to both the public and traders and people are happy with the reforms IANS https://dailyworld.in/business/gst-reforms-will-boost-purchasing-power-and-benefit-all-sectors-traders-640041.html Mon, 22 Sep 2025 23:27:00 +0530 https://dailyworld.in/business/stock-market-opens-marginally-lower-nifty-it-down-268-pc-639854.html Mumbai Sep 22 The Indian benchmark indices opened marginally lower on Friday despite positive global cues with IT stocks leading losses owing to some concerns over the new US H1B visa rules As of 926 am the Sensex was down 189 points or 023 per cent at 82772 and the Nifty was down 40 points or 016 per cent at 25286 Sensex and Nifty had opened with dips of 040 per cent and 033 per cent respectively but later cut down on the lossesIT giants such as Tata Consultancy Services TCS Infosys Wipro HCL Technologies Tech Mahindra and Coforge slipped in the morning tradeThe US government has clarified that visa holders returning to the country are exempt from the new 100000 fee which provided marginal relief to Indian IT companiesWhite House said the visa fee would be a onetime payment applicable only to new applications from the next lottery cycle MarchApril 2026 and not on renewalsThe broad cap indices Nifty Midcap 100 dipped 005 per cent and the Nifty Smallcap 100 lost 012 per centThe losers were Tech Mahindra TCS Tata Motors Apollo Hospitals and Dr Reddys LabsAmong sectoral indices Nifty IT the top loser lost 268 per cent Nifty Pharma down 045 per cent and Nifty Healthcare down 033 per cent also weighed down on the indices All other sectoral indices were trading with marginal gainsThe Nifty index has held firmly above the 25300 mark closing at 25327 in the previous session It continues to trade above its key moving averagesthe 20day 50day and 200day EMAsreaffirming the broader bullish undertoneAnalysts predicted that sentiment will remain positive as long as the index remains above these averages Immediate resistance is placed at 25500 followed by the 25600 and 25850 zones The support lies at 25150 and 25000 zonesThey said that the market is likely to exhibit mixed behaviour with the IT sector being affected by the H1B visa issue and domestic consumption themes responding positively to the potential increase in consumption from lower GST rates kicking in from todayAccording to them the present low interest rate regime will aid the consumption boost and will also facilitate an increase in credit demand boosting the profitability of financialsAsiaPacific markets mostly rose on Monday tracking Wall Streets gains from Friday and boosted by Chinas key lending rate decision that kept key rates unchangedIn the US markets Nasdaq has added 072 per cent the SampP 500 edged up 049 per cent and the Dow inched up 037 per cent in the last trading sessionMost of the Asian markets were trading in the green during the morning session While Chinas Shanghai index edged up 007 per cent and Shenzhen advanced 017 per cent Japans Nikkei added 145 per cent while Hong Kongs Hang Seng Index lost 082 per cent South Koreas Kospi added 106 per centOn Friday foreign institutional investors FIIs purchased equities worth Rs 390 crore while domestic institutional investors DIIs were net buyers of equities worth Rs 2105 crore IANS https://dailyworld.in/business/stock-market-opens-marginally-lower-nifty-it-down-268-pc-639854.html Mon, 22 Sep 2025 10:05:00 +0530 https://dailyworld.in/business/domestic-investors-buy-record-rs-53-lakh-crore-worth-equities-in-2025-to-date-beat-2024-total-639863.html New Delhi Sep 22 Even with a quarter remaining in 2025 domestic institutional investors have net bought a record Rs 53 lakh crore of equities surpassing the fullyear total of Rs 522 lakh crore in 2024 according to the stock exchange data Mutual funds were the largest driver of this buying spree purchasing Rs 365 lakh crore aided by monthly SIP inflows of more than Rs 25000 crore while their cash holdings remained elevated at Rs 198 lakh crore in AugustInsurance companies and pension funds added more than Rs 1 lakh crore with the remainder coming from portfolio managers alternative funds banks and other institutionsBut analysts suggest that early signs of slowdown in momentum are emerging as market returns stagnate and global headwinds weigh on sentimentDespite robust inflows from DIIs Indian equities have lagged global peers with the Sensex having gained just 2 per cent and the Nifty 4 per cent in 2025 in dollar terms compared with doubledigit advances in major Asian and Western marketsMarket onlookers doubt the sustainability of mutual fund inflows even as equity fund inflows were Rs 33430 crore in August and Rs 42702 crore in JulyThey took cues from rising redemptions from smallcap and thematic funds as investors booked profits and diverted money into real estate Further GST rationalisation and festive spending such as home renovation could put pressure on household savings limiting fresh allocations to equities as Indias consumption cycle enters a highgrowth phaseMeanwhile foreign institutional investors FIIs remained net sellers dumping Rs 180443 crore so far in 2025 after selling Rs 121 lakh crore last yearHowever FIIs have been consistently buying through the primary market even while selling through the exchanges and they have bought Rs 1559 crore worth of equities in SeptemberAs lacklustre earnings stretched valuations and uncertainty over US tariffs act as headwinds analysts feel that there is a high likelihood of above 15 per cent growth in corporate earnings in FY27 leading to a turnaround in FPI sentiments IANS https://dailyworld.in/business/domestic-investors-buy-record-rs-53-lakh-crore-worth-equities-in-2025-to-date-beat-2024-total-639863.html Mon, 22 Sep 2025 10:52:00 +0530 https://dailyworld.in/business/tn-milk-cooperative-aavin-yet-to-pass-on-gst-benefit-as-rivals-slash-prices-639867.html Chennai Sep 22 Consumers in Tamil Nadu may have to wait longer for cheaper ghee butter paneer and other dairy products as staterun Aavin has not revised its rates even after the Goods and Services Tax GST on such items was cut from 12 per cent to 5 per cent While Amul Karnatakas Nandini Keralas Milma and several private brands have reduced prices with effect from Monday Aavin outlets continued to sell at existing tagsAmul and Nandini along with Milma and other private dairies have lowered prices of ghee paneer butter ice cream chocolates and other products by Rs 25 to Rs 40 A litre of ghee for instance now retails at Rs 610 compared with Rs 650 earlier Amul has extended the cuts across more than 700 products while Nandini has applied them to about 15 items Milma has also reduced the prices of 100 items from MondayBy contrast outlets in Ambattur Anna Nagar Adyar Korattur and Thiruvanmiyur of Tamil Nadu milk cooperative Aavin said no directive had reached them to slash pricesOfficials from the Tamil Nadu Cooperative Milk Producers Federation TNCMPF which markets Aavin said that because its prices are calculated inclusive of GST a formal state order is required before any reduction can be implementedAs of late Sunday night no such instruction had been issued The absence of relief has disappointed Aavins customers ahead of the festival seasonWhen private brands reduce ghee and butter prices by Rs 20 Rs 30 per kg it is unfair for Aavin to sell at higher rates said a resident of Ambattur Instead of a cut the GST adjustment has effectively raised Aavins base price to keep the maximum retail price unchanged meaning consumers are paying slightly moreFranchise owners also admitted this situation had put them at a disadvantage compared to private competitorsAavin procures around 35 lakh litres of milk every day of which 89 lakh litres are converted into valueadded products Its annual product sales total about Rs 600 crore with festive periods contributing heavily during last years Deepavali season alone sales touched Rs 126 croreWith GST reductions already in place nationwide the state governments decision in the coming days will determine whether Aavin aligns its prices with other major cooperatives IANS https://dailyworld.in/business/tn-milk-cooperative-aavin-yet-to-pass-on-gst-benefit-as-rivals-slash-prices-639867.html Mon, 22 Sep 2025 11:32:00 +0530 https://dailyworld.in/business/kerala-fm-balagopal-warns-of-revenue-loss-as-new-gst-rates-come-into-effect-639868.html Thiruvananthapuram Sep 22 Kerala Finance Minister KN Balagopal on Monday said that states including Kerala had fully participated in the GST Councils recent decision to restructure tax slabs but warned that the reforms could lead to significant revenue loss for states The new GST regime effective from Monday introduces just two tax slabs 5 per cent and 18 per centAccording to the Union government nearly 99 per cent of goods will now fall under the 5 per cent bracketMilk products ghee butter paneer and ice cream are among the items that have seen price reductions with the Kerala Cooperative Milk Marketing Federation Milma announcing revised prices from Monday A litre of Milma ghee will cost Rs 45 less while 400 grams of butter will see a price cut of Rs 15 Paneer and ice cream will also be cheaperHowever Minister Balagopal cautioned that the benefits of tax cuts do not always reach consumers as many companies fail to pass them onEven Union Ministers admitted this concern After a few months prices may return to previous levels There has been no proper study to assess the longterm impact of these reforms he saidHe further noted that Kerala could lose anywhere between Rs 50000 crore and Rs two lakh crore annuallyIf states lose this much revenue in a year it will directly affect welfare pensions salaries and development projects States do not have alternate revenue sources and about 41 per cent of their total income comes from GST Without this the financial crisis will deepen Balagopal said adding that only if people continue to receive salaries can they benefit from lower pricesMeanwhile Keralas Finance Department clarified that although GST on lotteries has been increased from 28 per cent to 40 per cent ticket prices will remain unchanged Instead adjustments will be made in prize distribution and agent commissions with commission rates set to undergo a sharp reductionThe government has also announced that strict monitoring will continue to ensure that consumers actually benefit from reduced GST rates in the market IANS https://dailyworld.in/business/kerala-fm-balagopal-warns-of-revenue-loss-as-new-gst-rates-come-into-effect-639868.html Mon, 22 Sep 2025 11:47:00 +0530 https://dailyworld.in/business/indias-real-estate-investment-landscape-remains-resilient-in-h1-2025-attracting-3-billion-639892.html New Delhi Sep 22 India continues to stand out as a promising country within the Asia Pacifics APAC real estate investment landscape attracting significant capital inflows of 30 billion in the first half of 2025 H1 2025 a report said on Monday Foreign investments stood at 16 billion accounting for around 52 per cent of the investment in the sector during H1While the investment declined YearonYear YoY overall investor interest remained intact The foreign capital continued to dominate overall investments meanwhile domestic capital deployment gained significant traction surging 53 per cent YoY Colliers said in a reportAround 48 per cent of the real estate investments during H1 2025 came from domestic investorsIndia continues to stand out as a promising country within the Asia Pacifics real estate investment landscape Foreign investments remained strong at 16 billion and accounted for around 52 per cent of the institutional investments in India during H1 2025 said Badal Yagnik Chief Executive Officer Colliers IndiaInterestingly APAC investors accounted for over onethird of the foreign inflows into the country in the first half of the year reiterating Indias strategic importance in crossborder capital flows he addedWith strong demand for highquality spaces overhauling and simplification of GST regulations and anticipation of elevated consumption levels in the upcoming festive season institutional investors are confident about their India exposureReal estate investments in 2025 are likely to end on a high note with core assets like residential and office continuing to demonstrate high traction Yagnik saidResidential and office assets together drove over half of the investment inflows in H1 2025 with residential assets leading at 08 billionWithin the office segment institutional investors are increasingly acquiring developmental assets by partnering with local developersInvestments in earlystage activities like land acquisition and construction have also picked up a significant pace in recent timesAdditionally mixeduse and retail assets too saw a notable surge together accounting for more than 30 per cent of the real estate investments in India during H1 2025 up from 7 per cent share during the corresponding period in 2024 the report saidIndias prominence in the Asia Pacific region continues to grow driven by strong demand traction across real estate asset classes Investor confidence is reflected in its recent rise to fourth place in terms of crossborder capital deployment in land and development sites up from seventh position in the previous quarter said Vimal Nadar National Director amp Head of Research Colliers India IANS https://dailyworld.in/business/indias-real-estate-investment-landscape-remains-resilient-in-h1-2025-attracting-3-billion-639892.html Mon, 22 Sep 2025 13:15:00 +0530 https://dailyworld.in/business/lower-gst-rates-to-boost-hospitality-transport-and-cultural-sectors-639895.html New Delhi Sep 22 The revamped GST rates implemented from Monday will make the countrys tourism sector more affordable enhance public transport use and support artisans and cultural industries the government said Early this month the GST Council reduced the GST on hotels less than Rs 7500day from 12 per cent to 5 per cent without ITC GST on buses with a seating capacity of over 10 persons was brought down to 18 per cent from 28 per cent Similarly the GST on art and cultural goods was also reduced from 12 per cent to 5 per centThe reductions will strengthen the domestic tourism ecosystem promote cultural heritage and encourage investment in related sectors an official statement saidUnder the leadership of PM Modi these reforms align with the vision of sustainable and inclusive growth fostering job creation and investment in hospitality transport and traditional crafts while also accelerating the postpandemic recovery of Indias tourism sector it addedThe lower GST rates on hotels are expected to make hotel stays more affordable for middleclass and budget travellers It also aligns with Indias hospitality tax structure with international tourism destinations becoming more attractive for foreign touristsThe move is also expected to boost weekend travel pilgrimage circuits heritage tourism and ecotourism as well as encourage investment in new midsegment hotels homestays and guesthouses creating jobs and improving infrastructureThe revamped GST on buses cuts the upfront cost of buses and minibuses making them more accessible for fleet operators schools corporates tour providers and state transport undertakingsIt will help bring down ticket fares especially in semiurban and rural routes and encourage a shift from private vehicles to sharedpublic transport reducing congestion and pollutionIt will also support fleet expansion and modernisation improving comfort and safety standards in public transportFurther the GST reduction on art and cultural goods which applies to statues statuettes original engravings prints lithographs ornamental articles stone art ware and stone inlay work will provide direct support to artisans craftsmen and sculptorsThe move will also help preserve living traditions of temple art folk expression miniature painting printmaking and stone craftsmanship and promote Indian culture and craftsmanship globally integrating heritage economy with modern markets the government saidThese GST reductions reflect a strategic effort by the government to boost Indias tourism and cultural sectors by enhancing affordability supporting traditional artisans and encouraging sustainable transport the official statement saidBy fostering greater accessibility and preserving cultural heritage these measures are poised to generate significant economic growth create jobs and promote Indias image globally as a vibrant and inclusive destination it added IANS https://dailyworld.in/business/lower-gst-rates-to-boost-hospitality-transport-and-cultural-sectors-639895.html Mon, 22 Sep 2025 13:42:00 +0530 https://dailyworld.in/business/ultra-gas-amp-energy-ltd-emerges-as-largest-lng-autofuel-retailer-in-india-639897.html Mumbai Sep 22 Ultra Gas amp Energy Ltd UGEL an Essar venture has emerged as Indias largest private operator and highest dispensing LNG refuelling outlets RO with six stations operational across major freight corridors These ROs are strategically located in Bhilwara Rajasthan Anand Gujarat ChakanPune Maharashtra Jalna Maharashtra Toranagallu Karnataka and Vallam Tamil Nadu enabling efficient access to cleaner fuel across key industrial and logistics hubsAs a newage cleantech company UGEL is pioneering the development of Indias largest LNG fuelling network driving the transition toward sustainable and lowemission transportationUGEL is positioning itself at the forefront of Indias green mobility revolution by building a comprehensive LNG delivery ecosystem and offering costeffective lowcarbon fuel through its expanding network of retail outletsEach UGEL RO is also futureready with integrated infrastructure to support electric vehicle EV charging reinforcing the companys longterm vision of multifuel lowemission mobility solutionsBy enabling commercial fleets to shift away from highemission fuels to cleaner alternatives like LNG amp Electric UGEL is delivering both environmental and economic value to its customersUGEL aims to scale its network to 100 LNG retail outlets across India supported by a planned investment of Rs 900 crore Expansion is already in progress in key states including Gujarat Tamil Nadu Maharashtra Rajasthan Haryana Punjab Karnataka Odisha Chhattisgarh and Jharkhand laying the groundwork for a robust nationwide infrastructure that supports Indias clean energy and transport goalsMaqsood Shaikh Managing Director amp CEO Ultra Gas amp Energy Ltd said Our retail outlets are built to do more than just dispense fuel they are catalysts for a cleaner smarter logistics future Backed by robust infrastructure and intelligent energy solutions we are proud to lead Indias transition toward greener fuels and sustainable mobility At UGEL our vision is firmly rooted in innovation efficiency and environmental responsibilityStrategically placed to serve highdensity logistics zones these stations are accelerating the shift from diesel to LNG a cleaner and more efficient fuel for longhaul truckingEach UGEL station has a scalable capacity of 50 tonnes capable of refuelling up to 600 LNG trucks per month Each station can reduce up to 66000 tonnes of carbon dioxide emissions annually collectively reducing one million tonnes of COTo ensure uninterrupted operations UGEL has partnered with IOCL GAIL HPCL and other leading LNG suppliers with access to all major LNG terminals of India ensuring consistent fuel supply and enabling smooth scalability IANS https://dailyworld.in/business/ultra-gas-amp-energy-ltd-emerges-as-largest-lng-autofuel-retailer-in-india-639897.html Mon, 22 Sep 2025 13:43:00 +0530 https://dailyworld.in/business/us-h-1b-visa-fee-unlikely-to-dent-it-companies-margins-significantly-report-639903.html New Delhi Sep 22 The US governments order which restricts entry for H1B visa petitioners unless they pay a onetime fee of 100000 is unlikely to significantly impact large and midcap IT services firms in India a report said on Monday The restrictions can be addressed through increased local hiring subcontracting or offshoring a report from fund management firm Equirus saidThe restriction unless extended will remain effective for 12 months from September 21 2025 unless renewed and applies solely to new visa applicantsEquirus estimated that the fee would lower the operating profit margins of largecap IT companies by only 7 to 14 basis points if it only applies to new H1Bs and by 26 to 49 basis points if it includes new and existing visa holders outside the USMidcap firms would experience impacts ranging from 21 to 39 basis points for new applicants and 60 to 109 basis points if applied to new and existing visa holders outside the USAnalysts said that the Indian IT vendors have reduced their onsite H1B workforce over the past six to eight years Such visas form around 2535 per cent for most of the large caps and 3060 per cent for most of the others in our view the report saidRestrictionrelated payment of 01 million is in many cases higher than the salary of the H1B visa holders paid by many Indian IT vendorsHence we believe common sense will prevail in replacing those affected applicants by doing incremental hiring of locals or green card holders or subcontractors and doing offshoring the report saidHowever the fund management firm maintained that sales growth may decelerate slightly in the latter half of fiscal 2026 as the required pivoting needs proper planning or client approvalsApproximately 71 per cent of H1B visa holders are from India primarily working for technology companies including Infosys Wipro Cognisant and Tata Consultancy Services IANS https://dailyworld.in/business/us-h-1b-visa-fee-unlikely-to-dent-it-companies-margins-significantly-report-639903.html Mon, 22 Sep 2025 14:10:00 +0530 https://dailyworld.in/business/cpec-landed-pakistan-in-95-billion-debt-trap-639909.html New Delhi Sep 22 The ChinaPakistan Economic Corridor CPEC which Islamabad had envisaged as an economic gamechanger is actually turning out to be a costly venture as it has failed to achieve its targets and instead landed Pakistan in a 95 billion debt trap The initiative promised to give muchneeded economic impetus to Pakistan but quickly entered uncharted waters and became mired in countless controversiesThus CPEC has very few outcomes to showcase This delay has cost Pakistan dearly The overdue energy and infrastructure projects cost overruns and accusations of opaque contracts have cost the initiative its viability according to an article in The Diplomat news magazineAccording to economist Ali Hasanain an Associate Professor at Lahore University of Management Sciences CPECs original sin was that a large number of its projects relied on foreign currencies which ultimately clashed with Pakistans domesticoriented exchange rate and industrial policies narrowing the fiscal space for IslamabadCurrently Pakistan owes more than 75 billion for setting up power plants and additional nearly 2 billion to Chinese energy producers in circular debt or unpaid bills the article statesDue to the delay in CPEC 20 Pakistan has been unable to establish the industrial base needed to transform into an exportdriven economy and pay off its debts Consequently Pakistan had to seek more loans to pay past loans resulting in a prolonged debt crisisThe article points out that one of the main challenges to CPEC has been the political infighting in Pakistan In 2015 when Pakistan Muslim League Nawaz PMLN was in power it considered itself the chief architect of the initiative However the Opposition Pakistan TehreekeInsaf PTI accused the PMLN of corruption and inflating the cost of projectsIn 2018 the tables turned and the PTI came into the government It attempted to reduce Pakistans financial risk by asking the Chinese side to review all the contracts as the new government feared they were badly negotiated either overly expensive or on terms excessively favouring China However Beijing was prepared to review only those projects that had not been startedIn 2019 the PTI government engaged the International Monetary Fund IMF for a financial bailout to solve the Balance of Payment BOP crisis For this bailout Pakistan had to share details of CPEC with the IMF Pakistan also had to agree with IMF conditions like fiscal consolidation that in practice required slowing down the CPEC which ultimately angered the Chinese the article statesEthnic and provincial tension also had a fair share in slowing down CPEC These ethnic tensions also translated into security challenges with the Balochistan Liberation Army BLA in Balochistan and the TehreekeTaliban Pakistan TTP in Khyber Pakhtunkhwa mounting armed attacks against these projectsFrom 2021 until late 2024 for instance there were 14 attacks on the CPEC killing 20 Chinese citizens and injuring 34Most of these attacks were claimed by the BLA Similarly in Khyber Pakhtunkhwa the TTP is also targeting Chinese interests Since the US withdrawal from Afghanistan the TTP has rapidly increased the number of attacks in Pakistan the article points out IANS https://dailyworld.in/business/cpec-landed-pakistan-in-95-billion-debt-trap-639909.html Mon, 22 Sep 2025 14:37:00 +0530 https://dailyworld.in/business/indias-logistics-sector-to-triple-to-rs-120-trillion-by-2035-report-639916.html New Delhi Sep 22 Indias logistics sector is set to grow nearly threefold to around Rs 120 trillion over the next decade a new report said on Monday The growth will be driven by a wave of infrastructure investments government reforms and the formalization of the industry according to a report by Omniscience CapitalThe report highlights that Indias GDP is expected to rise from 42 trillion in 2025 to 10 trillion by 2035 with industry and agriculture contributing 4 trillion to this growthSince logistics costs account for about 30 per cent of Indias agriindustry GDP the logistics market is projected to touch 12 trillion or roughly Rs 120 trillion by 2035Ashwini Shami President and Chief Portfolio Manager at Omniscience Capital said the sector is on the verge of a multidecade boom supported by record public spending and reformsGovernment initiatives such as the National Infrastructure Pipeline PM Gati Shakti and the National Logistics Policy directly address the sectors inefficiencies he saidMeanwhile digitalisation and the Goods and Services Tax GST are accelerating the formalisation of the largely fragmented logistics industry he addedAccording to the report the governments infrastructure spending has already increased from 21 per cent of GDP in 2021 to 31 per cent in 2025 and is expected to touch 5 per cent by 2030Massive investments in roads railways and dedicated freight corridors along with projects like the IndiaMiddle EastEurope Economic Corridor IMEEC are expected to cut costs reduce transit time and strengthen Indias role in global tradeThe sectors growth will also be supported by rising manufacturing output under Make in India and ProductionLinked Incentive schemesAt the same time digitisation through platforms like the Unified Logistics Interface Platform eway bills and RFIDenabled tracking has improved efficiencyPolicies such as GST 20 and the National Logistics Policy are expected to formalise up to 60 per cent of the industry by 2035 compared to the current unorganised base of around 80 per cent IANS https://dailyworld.in/business/indias-logistics-sector-to-triple-to-rs-120-trillion-by-2035-report-639916.html Mon, 22 Sep 2025 15:07:00 +0530 https://dailyworld.in/business/centre-to-distribute-25-million-free-lpg-connections-under-ujjwala-yojana-this-navratri-639923.html New Delhi Sep 22 IANS The Centre will provide 25 million free LPG connections under the Pradhan Mantri Ujjwala Yojana PMUY during the festival of Navratri Union Minister for Petroleum and Natural Gas Hardeep Singh Puri announced on MondaynbspWith this addition the total number of Ujjwala beneficiaries will rise to 106 million families across the countrynbspThe Minister said that the government will spend Rs 2050 on each connection which will cover a free LPG cylinder gas stove regulator and other related equipmentnbspCalling it a Navratri gift for women Puri said the expansion of Ujjwala reflects Prime Minister Narendra Modis commitment to honouring womens powerWith the auspicious beginning of Navratri the gift of 25 million new free PM Ujjwala connections is yet another proof that PM Narendra Modi honours women just like Goddess Durga This decision further strengthens our resolve for the respect and empowerment of mothers and sisters he wrote in a post on XnbspThe Minister also praised the scheme as a symbol of empowerment and a source of transformationnbspHe said that Ujjwala has not only made kitchens smokefree but has also improved the health and lives of millions of women and their familiesIt is not just a scheme it has become a torch of a massive revolution whose flame has reached every corner of the nation even remote areas he addednbspPuri also referred to the Union Cabinets recent decision to provide a subsidy of Rs 300 on refills for over 1033 crore Ujjwala familiesnbspWith this subsidy cylinders are available at Rs 553 which he said is lower than the price in many LPGproducing countriesExpressing gratitude towards Prime Minister Modi he said the scheme has brought visible change in the lives of womennbspNo more stinging eyes no smoke in the breath and no blisters on the hands Instead there is the smile of happiness good health and the flavour of love he wrotenbspLaunched in May 2016 the Pradhan Mantri Ujjwala Yojana provides depositfree LPG connections to women from poor households Under Ujjwala 20 the first refill and stove are also given free of cost to beneficiaries https://dailyworld.in/business/centre-to-distribute-25-million-free-lpg-connections-under-ujjwala-yojana-this-navratri-639923.html Mon, 22 Sep 2025 15:20:00 +0530 https://dailyworld.in/business/small-cap-mid-cap-funds-lead-inflows-due-to-structural-tailwinds-regulatory-reforms-reports-639929.html New Delhi Sep 22 Retail investors are increasingly investing in Indias small and midcap mutual funds motivated by higher returns structural tailwinds and regulatory reforms a report said on Monday While midcap schemes recorded net inflows of Rs 5331 crore in August a 745 per cent increase YoY and smallcap funds saw inflows of Rs 4993 crore marking a 556 per cent rise YoY largecap funds only saw a net inflow of Rs 2835 crore marking a 75 per cent increase the report from ICRA Analytics saidThe net inflow of midcap and smallcap fund categories went up 5501 per cent and 2201 per cent respectively since the beginning of this financial yearNet AUM of midcap funds increased by 109 per cent on YoY basis at Rs 427 lakh crore while that of smallcap funds increased by 956 per cent YoY at Rs 351 lakh crore in August 2025 Net AUM of largecap funds increased by 586 per cent YoY at Rs 390 lakh croreLargecap companies are already mature and wellestablished Their growth is often incremental and tied to macroeconomic cycles In contrast small and midcap firms have greater room to expand innovate and capture market share leading to higher earnings growth said Ashwini Kumar Senior Vice President and Head Market Data ICRA AnalyticsFurther large caps often trade at higher valuations due to their perceived stability which may limit their upside potential However small and midcaps are frequently undervalued offering better pricetoearnings ratios and return on assets he addedKumar said that recent government initiatives supporting MSMEs improved corporate disclosures and stress testing have created a favorable environment for small and midcap companies to thriveAs of August 31 2025 oneyear returns 38 per cent for largecap funds 39 per cent for midcap funds and 64 per cent for smallcap fundsThreeyear returns were 135 per cent 196 per cent and 193 per cent for largecap midcap and smallcap funds respectively IANS https://dailyworld.in/business/small-cap-mid-cap-funds-lead-inflows-due-to-structural-tailwinds-regulatory-reforms-reports-639929.html Mon, 22 Sep 2025 15:42:00 +0530 https://dailyworld.in/business/gst-exemption-implemented-varanasi-locals-celebrate-savings-festival-639930.html Varanasi Sep 22 The new GST slab exemption announced by Prime Minister Narendra Modi has officially come into effect from Monday bringing visible relief to the citizens of his parliamentary constituency Varanasi Locals are celebrating the move as a Savings Festival marking a shift toward affordability and economic optimism From temple priests to restaurant owners and grocery shopkeepers the sentiment is unanimous this tax relief is a welcome gift especially as it coincides with the beginning of NavratriThis decision will definitely boost business and offer direct benefits to consumers said Sheetala Prasad Upadhyay a local restaurant owner Cheese butter pulses rice everything has become more affordableVinod Kannaujiya who runs a general store echoed the sentiment Reducing the GST is a great initiative Its a relief for common people and deserves to be celebrated as a Savings FestivalFor Tulsi a temple priest the timing of the announcement is spiritually significantOn the first day of Navratri this is great news GST has been reduced on natural items used in puja rituals This strengthens Sanatan Dharma I thank PM Modi for this he told IANSCitizens like Sunil Upadhyay view the change as a festive giftFrom day one of Navratri GST cuts will make daily essentials more affordable This is a huge benefit for the common manMeanwhile Indias revamped Goods and Services Tax system dubbed nextgeneration GST or GST Bachat Utsav was implemented reducing taxes on around 370 products including daily essentials and lifesaving medicinesUnion Finance Minister Nirmala Sitharaman announced that the overhaul aims to inject approximately Rs 2 lakh crore into the economy by increasing the disposable income of consumersOver 50 items including UHT milk khakhras prepackaged paneer and breads like chapatis and parathas will now fall under a zerotax bracket due to the new structureThirtythree essential drugs and therapies for conditions including cancer and rare diseases are now exempt from GST while the tax rate on numerous other medicines have been reduced from 12 per cent to zero Medical devices such as diagnostic kits and glucometers now incur a GST of just 5 per centThe levy on stationery items for schools and offices including erasers pencils notebooks and maps has been removed Prices for several consumer staples have dropped including butter biscuits condensed milk namkeen jams ketchup juices dry fruits ghee ice cream and sausagesDry fruits and nuts including almonds cashews pistachios and dates will now be taxed at 5 per cent instead of 12 per centCement for housing is now set at 18 per cent down from 28 per cent Services such as haircuts salon treatments yoga classes gyms and health clubs will also see reduced ratesAdditionally the zeroGST category now includes toiletries like soaps shampoos hair oil face creams and shaving creamGST on kitchen appliances and electronics including air conditioners televisions washing machines and dishwashers has been reduced to 18 per cent from 28 per centThe government has merged cess into the GST base and imposed a 40 per cent levy on sin and luxury goods to offset revenue lossesCigarettes bidis pan masala gutka and other tobacco products are subject to the highest tax rate along with aerated beverages such as CocaCola Pepsi and Fanta IANS https://dailyworld.in/business/gst-exemption-implemented-varanasi-locals-celebrate-savings-festival-639930.html Mon, 22 Sep 2025 15:43:00 +0530 https://dailyworld.in/business/worldwide-spending-on-ai-is-expected-to-be-nearly-15-trillion-in-2025-report-639935.html New Delhi Sep 22 Worldwide spending on artificial intelligence AI is expected to be nearly 15 trillion in 2025 up nearly 50 per cent up from 987904 in 2024 a report said on Monday Further the overall global AI spending is likely to top 2 trillion in 2026 led by AI integration into products such as smartphones and PCs as well as infrastructure according to a business and technology insights company Gartner Inc reportMirroring last years spending graph generative AI integration in smartphones would lead the spending at 298189 this year as well followed by AI services 282556 AIoptimised servers 267534 AI processing semiconductor 209192 AI application software 172029 and AI infrastructure Software 126177The forecast assumes continued investment in AI infrastructure expansion as major hyperscalers continue to increase investments in data centres with AIoptimised hardware and GPUs to scale their services said JohnDavid Lovelock Distinguished VP Analyst at GartnerThe AI investment landscape is also expanding beyond traditional US tech giants including Chinese companies and new AI cloud providers Furthermore venture capital investment in AI providers is providing additional tailwinds for AI spending he addedAccording to the report the AI spending would reach 202 trillion in 2026 following a similar growth trajectoryIn 2026 spending on Generative AI integration in smartphones is likely to be at 393297 Meanwhile the spending on AI Services would reach 324669 and for AIoptimised servers it would go around 329528Similarly AI processing semiconductor 267934 AI application software 269703 and AI infrastructure software 229885 will also put weight in spending on AIThe other segments attracting AI spending would be AI PCs by ARM and x86 AIoptimised IaaS and GenAI ModelsGartner providers equip tech leaders and their teams with rolebased best practices industry insights and strategic views into emerging trends and market changes to achieve their missioncritical priorities and build the successful organisations of tomorrow IANS https://dailyworld.in/business/worldwide-spending-on-ai-is-expected-to-be-nearly-15-trillion-in-2025-report-639935.html Mon, 22 Sep 2025 16:16:00 +0530 https://dailyworld.in/business/govt-warns-firms-against-not-passing-gst-cuts-to-consumers-639940.html New Delhi Sep 22 Consumer Affairs Secretary Nidhi Khare on Monday warned companies that they will face strict action if they fail to pass on the benefits of reduced Goods and Services Tax GST rates to consumers In an interview with NDTV Profit Khare said that any company not reflecting the revised GST rates in their prices will be treated as indulging in unfair practiceShe added that the government is fully equipped to monitor complianceIf we feel reduced GST hasnt been passed on it will be treated as an unfair practice We will take class action against those who dont pass on GST benefits she said assuring that consumer complaints will also be addressed promptlyThe warning comes as the new GST structure came into effect on Monday reducing taxes on around 370 items including essential goods and lifesaving medicinesFinance Minister Nirmala Sitharaman had earlier said that the new system aims to inject nearly Rs 2 lakh crore into the economy by boosting the spending power of householdsEveryday food products such as UHT milk paneer chapatis parathas butter biscuits namkeen ketchup and juices have become cheaper under the revised structureToiletries like soaps shampoos and hair oil along with stationery items such as notebooks and pencils now attract no GSTEssential drugs for cancer and rare diseases have been exempted while the GST rate on diagnostic kits and glucometers has been reduced to just 5 per centCement for housing has also seen a major cut dropping from 28 per cent to 18 per cent Even services such as salons gyms and yoga classes now come under lower GST bracketsHowever items such as tobacco pan masala and aerated beverages remain in the highest tax category at 40 per cent while large SUVs and MPVs have also been brought into the same bracket to offset revenue lossesWith prices of essentials medicines and household goods falling officials say that the move is expected to improve consumption and boost the economy in the coming months IANS https://dailyworld.in/business/govt-warns-firms-against-not-passing-gst-cuts-to-consumers-639940.html Mon, 22 Sep 2025 16:52:00 +0530 https://dailyworld.in/business/piyush-goyal-in-washington-for-india-us-trade-talks-639941.html Washington Sep 22 Union Minister for Commerce and Industry Piyush Goyal was in Washington on Monday to move ahead with the trade talks with a view to achieving an early conclusion of a mutually beneficial IndiaUS Bilateral Trade Agreement Goyals trip to the US capital follows the visit of the US team of officials to Delhi on September 16 The Commerce Ministry said that during the visit of the team of officials from the office of the United States Trade Representative to India positive discussions were held on various aspects of the trade deal and it was decided to intensify efforts in this regardOn September 16 a US delegation led by Assistant US Trade Representative for South and Central Asia Brendan Lynch met Indian trade officials headed by Chief Negotiator Rajesh Agrawal in New Delhi amid the thaw in relations following President Donald Trumps conciliatory postureLynchs visit came against the backdrop of heightened expectations of a trade deal following positive messages by President Trump and Prime Minister Narendra Modi after days of a bitter stalemateTrump said on a Truth Social post on September 9 that talks were continuing and I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great CountriesCalling PM Modi a great friend he said he would be talking to himPM Modi responded to Trumps post saying I am confident that our trade negotiations will pave the way for unlocking the limitless potential of the IndiaUS partnership He added that he was looking forward to talking with TrumpHowever it is not clear as yet to what extent the US announcement of a 100000 fee on H1B visas which will adversely impact Indian IT engineers working in the US will influence the trade talks The 25 per cent penal tariff imposed on India over Russian oil imports is another issue that has been posing problemsUS Ambassador to Indianominee Sergio Gor told a Senate panel considering his nomination last week that Indias Commerce Minister was expected in Washington and would meet US Trade Representative Jamieson Greer IANS https://dailyworld.in/business/piyush-goyal-in-washington-for-india-us-trade-talks-639941.html Mon, 22 Sep 2025 16:52:00 +0530 https://dailyworld.in/business/gautam-adani-asks-group-staff-to-accelerate-pace-of-growth-as-sebi-lifts-hindenburg-cloud-639956.html New Delhi Sep 22 IANS Adani Group Chairman Gautam Adani has urged the Group staff to accelerate the pace of innovation and drive bold advances in energy logistics and other infrastructure that push the very edges of possibility as the cloud of the Hindenburg case over the conglomerate has been lifted with the SEBI verdict rejecting the allegations of the US shortsellernbspWe must build not for todays applause but for a legacy that endures for decades Headlines fade but what we create must leave its mark on history Gautam Adani said in a letter to the Groups staffnbspToday a cloud that had hung over us for more than two years has been lifted SEBIs comprehensive investigation has concluded by rejecting all allegations contained in the Hindenburg report from January 2023 the letter statesAdani Group repeatedly denied the allegations made by USbased Hindenburg Research which ironically itself came under a cloud due to its controversial shortselling practices and had to shut down its operations amid widespread criticism in the American pressnbspThe SEBI ruling states that the matter has been considered holistically and the allegations made against the Adani Group are not establishednbspGautam Adani called the allegations part of a targeted multidimensional assault and lauded his employees for maintaining operational momentum despite global scrutiny This attack was never just a market event he remarkedHe praised the groups workforce for continuing to execute major infrastructure projects during the scrutiny Ports power plants airports and renewable energy projects continued to expand as the group faced reputational and legal pressurenbspWhile the world debated about us our ports expanded transmission lines stretched farther power plants ran reliably renewable projects continued to green the world airports advanced cement furnaces fired away and logistics teams delivered flawlessly he said You proved that execution under pressure is the truest test of character and that the Adani character is simply unbreakableGautam Adani further stated in his letter that the Adani Group had emerged stronger and laid out future priorities including a focus on transparency innovation longterm value creation and transformationnbspIntegrity and transparency must remain the foundation of everything we do inseparable uncompromising and safeguarded relentlessly he saidnbspOther priorities will include accelerating innovation in energy logistics and infrastructure building a legacy that endures for decades beyond headlines and embracing transformation to shape the future rather than be shaped by it he stressedAsking employees to embrace transformation he said the future will march forward with or without us Either we shape the future into what we dream or be shaped by the future into what we fearnbspGautam Adani also struck an emotional chord in thanking the Groups staff for supporting him through the ordealnbspI know the quiet anxieties your families felt the doubts even you may have felt at times and yet day after day you showed upyou fought for my beliefs he remarkednbspHe pointed to the groups operational resilience noting that while the world debated about us our ports expanded transmission lines stretched farther power plants ran reliably renewable projects continued to green the world airports advanced cement furnaces fired away and logistics teams delivered flawlesslyGautam Adani also referred to the controversy as an agnipariksha saying every crisis deepens foundations and strengthens resolve He warned employees that more tests would follow but urged them to draw confidence from the groups performance under pressurenbspThe crisis rattled global investors prompted questions from the Supreme Court and led to the SEBI initiating multiple investigations While Hindenburg subsequently ceased operations in January 2025 under what Adani called mysterious circumstances the shadow of its allegations lingered until the regulators latest findingsDespite facing credit downgrades and investor scepticism in early 2023 the group has since regained market value bolstered by strategic equity investments from global firms including GQG Partners and the Abu Dhabibased International Holding Company What also helped was the paring of debt and resumption of expansion in the core infrastructure businessnbspAs of Monday shares of Adani Enterprises Ltd have surged more than 80 per cent to outperform the Nifty 50 IndexLet history remember the past three years as the spark that built a greater Adani an Adani that stood taller in dignity with every challenge it quietly overcame And let our resolve echo echo through every barrier we dared to break echo through every tomorrow we dared to build echo through every dream we dared to chase And may the name Adani forever stand for courage conviction and a promise we all kept to our motherland Bharat Gautam Adani saidnbspHe urged employees to let the groups story stand for courage conviction and a promise we all kept to our motherland Bharat and signed off with Satyameva Jayate Jai Hind https://dailyworld.in/business/gautam-adani-asks-group-staff-to-accelerate-pace-of-growth-as-sebi-lifts-hindenburg-cloud-639956.html Mon, 22 Sep 2025 17:10:00 +0530 https://dailyworld.in/business/stock-market-ends-lower-after-volatile-session-amid-it-selloff-h-1b-visa-concerns-639959.html Mumbai Sep 22 The Indian benchmark indices ended in negative territory on Monday after a volatile session The IT stocks dragged the market in the early trade after the US administration announced 100000 fee for new H1B visas However the market rebounded quickly buoyed by GST reforms that came into effect from MondaySensex ended the session at 8215997 down 46626 points or 056 per cent The 30share index started the session in red at 8215107 against last sessions closing of 8262623 amid a sharp decline in IT stocks However the GST reforms that came into effect from Monday restricted the index from dragging furtherNifty closed at 2520235 down 12470 points or 049 per centThe day began on a weak footing as negative global cues and concerns over the 100000 H1B visa fee for new applicants dampened sentiment Benchmark indices opened with a gapdown start mirroring the cautious mood in global markets Despite the weak opening the market quickly filled the gap and attempted a recovery Ashika Institutional Equities said in its noteHowever selling pressure resurfaced dragging the Nifty to its intraday low as profitbooking dominated the latter half of the session the note addedTech Mahindra TCS Tata Motors Trent HCL Tech Sun Pharma SBI LampT ITC BEL Maruti Suzuki and Kotak Bank were the top losers from the Sensex basket While Eternal Bajaj Finance Adani Ports Ultratech Cement Hindustan Unilever and Axis Bank settled higherThe majority of Sectoral indices ended the session in negative territory amid selling pressure Nifty Bank fell 17410 points Nifty Auto slipped 65 points or 024 per cent Nifty FMCG settled 266 points or 047 per cent lower and Nifty IT closed 1078 points or 295 per cent lowerThe broader market followed suit as well Nifty Small Cap 100 dipped 215 points or 117 per cent Nifty Midcap 100 fell 394 points or 067 per cent and Nifty 100 ended the session 91 points or 035 per cent lower IANS https://dailyworld.in/business/stock-market-ends-lower-after-volatile-session-amid-it-selloff-h-1b-visa-concerns-639959.html Mon, 22 Sep 2025 17:36:00 +0530 https://dailyworld.in/business/atal-community-innovation-centres-grassroot-visionaries-shaping-self-reliant-india-niti-aayog-639962.html New Delhi Sep 22 The Atal Innovation Missions AIM Community Innovator Fellows CIFs are grassroot visionaries that are shaping up a selfreliant India said Niti Aayog on Monday The AIM marked the graduation of its fifth cohort It has so far supported a total of 100 CIFsThe Atal Community Innovation Centres are not merely incubators of ideas they are transformative ecosystems that empower local innovators to turn their vision into reality driving sustainable development and societal progress said Dr Deepak Bagla Mission Director AIM Niti AayogBagla celebrated the CIF programme for its remarkable impact noting its role in empowering innovators who serve as role models for their communities and society at largeThe Community Innovator Fellows are the torchbearers of change exemplifying resilience creativity and an indomitable spirit Their innovations are not just solutions they are a testament to the power of grassroots ingenuity in shaping a selfreliant and prosperous India he saidThe Community Innovator Fellows programme a cornerstone of AIMs Atal Community Innovation Centres ACICs is dedicated to empowering innovators in unserved and underserved regions of the nation This initiative underscores AIMs resolute commitment to nurturing entrepreneurial spirit and driving societal progress through localized innovation by building a selfreliant nationDr Bagla highlighted the pivotal role of ACICs in catalysing innovation at the grassroots level particularly in Tier 2 and Tier 3 citiesHe emphasised that these centres serve as beacons of hope fostering solutions that address pressing challenges in critical sectors such as healthcare education agriculture and financial servicesThe Atal Innovation Mission a flagship initiative by NITI Aayog remains steadfast in its mission to foster a vibrant ecosystem of innovation and entrepreneurship across IndiaThe graduation of the fifth cohort of CIF stands as a testament to AIMs vision of empowering every citizen to contribute to a sustainable and inclusive future IANS https://dailyworld.in/business/atal-community-innovation-centres-grassroot-visionaries-shaping-self-reliant-india-niti-aayog-639962.html Mon, 22 Sep 2025 17:38:00 +0530 https://dailyworld.in/business/gst-reform-to-boost-gdp-by-rs-20-lakh-crore-ashwini-vaishnaw-639967.html New Delhi Sep 18 IANS Union Electronics and IT Minister Ashwini Vaishnaw on Monday said that the simplification of the Goods and Services Tax GST framework will make doing business in India easier and boost overall demand adding nearly Rs 20 lakh crore to the countrys GDPnbspSpeaking to the media Vaishnaw stated that the reform is being welcomed nationwide because it enables people to save a greater portion of their income and makes the majority of everyday necessities more affordablenbspTargeting the opposition the minister said that while there was only talk and no action under the UPA administration the NDA government has provided tangible relief through the GSTHe gave several examples of lower tax rates including the following cement which previously had a 30 per cent tax is now subject to an 18 per cent tax sanitary pads which were previously subject to a 13 percent tax are now completely exempt footwear which was previously subject to an 18 percent tax is now only 5 per cent refrigerators are now only 18 percent taxed and detergents are no longer taxednbspTaxes on almost 370 items including everyday necessities and lifesaving medications have been reduced overall Previously subject to 5 12 or 18 per cent GST several items are now taxfreenbspUnion Finance Minister Nirmala Sitharaman has said that the reform will inject an additional Rs 2 lakh crore into the economy by enhancing consumers disposable incomeUnder the new structure GST slabs have been reduced from four 5 12 18 and 28 per cent to two 5 per cent and 18 per cent A special 40 per cent rate will apply to luxury and sin goodsnbspUnion Minister Ramdas Athawale also lauded the reforms and said they would take Indias economy to greater heightsnbspSpeaking to IANS he said I believe that Prime Minister Narendra Modi has taken several good decisions in his 11 years but this decision to reduce GST will take the countrys economy to new heights This decision to reduce GST will be very beneficial for the common mannbspHe also stressed the Prime Ministers appeal to encourage local businesses https://dailyworld.in/business/gst-reform-to-boost-gdp-by-rs-20-lakh-crore-ashwini-vaishnaw-639967.html Mon, 22 Sep 2025 18:18:00 +0530 https://dailyworld.in/business/air-india-express-passenger-tries-to-open-cockpit-door-looking-for-lavatory-639974.html New Delhi Sep 22 An Air India Express passenger on a flight from Bengaluru to Varanasi tried to open the cockpit door allegedly searching for the lavatory the airline said Monday The man one among nine on board was detained by crew members and handed over to the Central Industrial Security Force upon landingAn Air India Express spokesperson said We are aware of media reports regarding an incident on one of our flights to Varanasi where a passenger approached the cockpit entry area while looking for the lavatoryThe airline company said that robust safety and security protocols are in place and were not compromised and that the incident has been reported to the relevant authoritiesThe matter is currently under investigation the spokesperson saidIn a separate announcement Monday Air India Express said it has started new daily direct flights between Bengaluru and Bangkok effective from Thursday From Bengaluru the flight will take off every day at 11 am IST which will reach its destination at 445 pm ISTThe new service aims to provide travellers with convenient nonstop connectivity to Thailand especially during the upcoming festive and holiday seasonsEarlier this month an Indorebound Air India Express flight from Delhi suffered a midair engine fault prompting the pilots to make a PANPAN call to Air Traffic Control before landing safely with all passengers unharmedThe internationally recognised PANPAN signal is used in aviation to indicate an urgent but nonlifethreatening situation requiring immediate support from air traffic control or ground servicesOfficials on September 5 said the flight IX 1028 was carrying 161 passengers when the crew noticed a suspected oil filter issue during descent into IndoreAir India and its lowcost arm Air India Express reported a combined pretax loss of Rs 95684 crore during FY 25 Of this Air India Express which had remained profitable for years slipped into a loss of Rs 56782 crore IANS https://dailyworld.in/business/air-india-express-passenger-tries-to-open-cockpit-door-looking-for-lavatory-639974.html Mon, 22 Sep 2025 18:25:00 +0530 https://dailyworld.in/business/adani-group-shares-extend-rally-add-rs-17-lakh-crore-in-market-value-in-two-sessions-639999.html New Delhi Sep 22 Shares of Adani Group companies continued their upward momentum on Monday rising sharply for the second straight session after the Securities and Exchange Board of India SEBI gave the conglomerate a clean chit in the Hindenburg shortselling case The Adani Groups total market capitalisation has increased by Rs 17 lakh crore in just two days after the prolonged rally surpassing the Rs 15 lakh crore markAfter hitting the 20 per cent upper circuit during the session Adani Power led the rally and closed at Rs 170 In just two trading days the stock has gained almost 35 per cent after undergoing a 15 splitAdani Total Gas saw a nearly 20 per cent increase to close at Rs 781 bringing its twoday gain to roughly 27 per cent Additionally Adani Green Energy saw a nearly 12 per cent increase on Monday giving investors a 17 per cent return over two sessionsAdani Enterprises gained 398 per cent to close at Rs 2624 marking a nearly 10 per cent increase over the same period while Adani Energy Solutions rose 652 per cent to Rs 934 up more than 11 per cent in two daysAdani Ports increased 120 per cent to Rs 1445 bringing its twoday gain to about 3 per cent A significant cement subsidiary of the group Ambuja Cement also increased by 130 per cent to Rs 590 or roughly 25 per cent in two sessionsMeanwhile the Indian benchmark indices ended in negative territory after a volatile sessionThe IT stocks dragged the market in the early trade after the US administration announced 100000 fee for new H1B visas However the market rebounded quickly buoyed by GST reforms that came into effect from MondayThe Sensex ended the session at 8215997 down 46626 points or 056 per cent while Nifty closed at 2520235 down 12470 points or 049 per cent IANS https://dailyworld.in/business/adani-group-shares-extend-rally-add-rs-17-lakh-crore-in-market-value-in-two-sessions-639999.html Mon, 22 Sep 2025 20:15:00 +0530 https://dailyworld.in/business/fii-selling-moderates-amid-indias-market-rally-sentiments-to-improve-639747.html New Delhi Sep 21 Foreign institutional investors slowed their selling amid Indian markets strong rally but remained net sellers in September offloading Rs 9503 crore this month The Nifty index displayed strong bullish momentum over the past week advancing 213 points closing at 25327 and forming a bullish candle marking the third consecutive week of gainsIt is important to note that FIIs have been consistently buying through the primary market even while selling through the exchanges and they have bought Rs 1559 worth of equities in September said Dr VK Vijayakumar Chief Investment Strategist at Geojit InvestmentsSo far in 2025 FIIs have sold Rs 180443 crore worth of equities a massive surge compared to the Rs 121210 crore offloading of Indian equities in 2024 the analyst saidThe huge surge in selling has not significantly impacted the market since DIIs have eclipsed the FII selling through sustained buyingPrimary market buying by FIIs totalled Rs 41865 crore in 2025 Vijayakumar attributed this peculiar behaviour of selling secondary market shares while buying primary ones to overvaluation in Indias stock marketThe selloff driven by lacklustre earnings stretched valuations and uncertainty over US tariffs has resulted in rangebound indicesFII selling in India and buying in other markets like Hong Kong Taiwan South Korea etc has been profitable for FIIs so far this year he said adding that this scenario may change going forwardMeanwhile on the weekly chart the index has formed a cup and handle pattern and a decisive breakout of this formation supported by increasing volumes would signal the potential for further sustained upside analysts saidFurther the index continues to trade above its key moving averages the 20day 50day and 200day EMAs further confirming the broader bullish undertoneAnalysts feel that there is a high likelihood of above 15 per cent growth in corporate earnings in FY27 leading to a turnaround in FPI sentiments IANS https://dailyworld.in/business/fii-selling-moderates-amid-indias-market-rally-sentiments-to-improve-639747.html Sun, 21 Sep 2025 13:30:00 +0530 https://dailyworld.in/business/pli-scheme-attracts-rs-176-lakh-crore-investments-creates-over-12-lakh-jobs-report-639754.html New Delhi Sep 21 Indias Production Linked Incentive PLI scheme has attracted Rs 176 lakh crore in committed investments since 2020 and created over 12 lakh jobs a report said The scheme has approved 806 applications across 14 strategic sectors primarily with the goal of boosting manufacturing in line with the Atmanirbhar Bharat initiative a report from India Narrative saidThe scheme offers rewards to companies for increased sales beyond a set baseline Initially sectors such as mobile electronics active pharmaceutical ingredients and medical devices were included and later automobiles textiles food processing solar modules semiconductors and others were addedUnder the PLI scheme electronics and mobile manufacturing rose 146 per cent from Rs 213 lakh crore in FY 202021 to Rs 525 lakh crore in FY 202425The auto and autocomponent PLI has drawn over Rs 67000 crore in investmentsBy March 2025 PLI participants in all sectors reported combined sales surpassing Rs 165 lakh crore the report saidAlthough MSMEs benefit indirectly their direct inclusion in PLI schemes remains limited it said adding that addressing these gaps will be critical for the scheme to reach its full transformative potentialSeveral projects have lagged in terms of execution amidst the competition from countries like Vietnam or China which requires constant innovation in policy design and logistics infrastructure it notedWhile electronics and pharma are surging due to a boost from the PLI scheme some sectors such as textiles and white goods need more time to scaleThe report said that enhanced monitoring complementary reforms in logistics and infrastructure and increased budget allocations for FY 202526 will strengthen PLIs reach and elevate manufacturings share of GDP to 25 per centFurther the scheme is expected to anchor India in global supply chains for electronics EVs and pharmaceuticals IANS https://dailyworld.in/business/pli-scheme-attracts-rs-176-lakh-crore-investments-creates-over-12-lakh-jobs-report-639754.html Sun, 21 Sep 2025 14:09:00 +0530 https://dailyworld.in/business/gst-rate-cuts-375-items-to-get-cheaper-from-tomorrow-639755.html New Delhi Sep 21 From automobiles and electronics to food items and medicines as many as 375 goods and services will become cheaper from Monday September 22 as the new GST framework comes into effect The major rate rationalisation approved by the GST Council earlier this year reduces the tax structure from four slabs to just two 5 per cent and 18 per centA special 40 per cent rate will apply on a select list of luxury and sin goodsFinance Minister Nirmala Sitharaman had described the reform as a Diwali gift for consumers saying the move will not only lower costs for the middle class but also make business operations smoother under GSTThis reform is not just about rationalising rates It is also about ease of living and structural reforms We have reduced slabs to just two and addressed issues related to compensation cess FM Sitharaman had saidEveryday food items such as milkbased beverages biscuits butter cereals dry fruits fruit juices ghee ice cream jam ketchup namkeen paneer pastry sausages and tender coconut water will now attract lower GSTDailyuse goods like shampoos soaps hair oil shaving cream talcum powder and face creams will also see price reductionsElectronics such as ACs washing machines TVs and dishwashers will become cheaper while GST on several medicines and medical devices has been cut to 5 per centThe government has directed pharma companies to revise their MRPs and pass on the benefits to consumersIn the services sector GST has been reduced for salons barbers gyms fitness centres and yoga servicesFor homebuyers the tax on cement has been slashed from 28 per cent to 18 per cent which is expected to make housing more affordableBig brands have already started passing on the benefits Hindustan Unilever has announced cuts across products such as Dove shampoo Lifebuoy soaps Horlicks and Kissan JamDairy giant Amul has reduced prices on over 700 products including butter ghee paneer cheese ice creams and bakery itemsThe Indian Railways has also cut prices of Rail Neer bottled water with a 1litre bottle now priced at Rs 14 instead of Rs 15The automobile sector will be one of the biggest beneficiaries with small hatchbacks now taxed at 18 per cent instead of 28 per cent and without any compensation cessCompanies like Maruti Suzuki India Tata Motors and Hyundai India have announced major price cuts on popular hatchbacks ranging from Rs 70000 to over Rs 13 lakh effective from September 22 IANS https://dailyworld.in/business/gst-rate-cuts-375-items-to-get-cheaper-from-tomorrow-639755.html Sun, 21 Sep 2025 14:09:00 +0530 https://dailyworld.in/business/ciis-model-state-gcc-policy-aims-to-create-millions-of-high-quality-jobs-across-india-director-general-639768.html New Delhi Sep 21 The Confederation of Indian Industry CII on Sunday released its Model State Policy on Global Capability Centres GCCs offering a comprehensive roadmap for states to attract support and scale the next generation of global enterprise hubs The policy aims to create millions of highquality jobs expand innovation ecosystems beyond metropolitan areas and strengthen Indias position as a global destination for knowledge and digital servicesCII Director General Chandrajit Banerjee said the rapid growth of GCCs over the past two decades has been a key driver of Indias economic journeyTo sustain leadership and deepen our integration into global value chains states must adopt clear competitive and innovationoriented policies This model policy provides a ready framework to guide states accelerate GCC growth beyond the metros and generate highquality employment he saidCurrently nearly 95 per cent of Indias 1800plus GCCs are concentrated in six Tier1 citiesThe CII policy seeks to change this by enabling Tier2 and Tier3 cities to become attractive destinations for global enterprisesIt provides actionable measures across infrastructure development fiscal incentives regulatory frameworks digital infrastructure talent development and sustainability allowing states to create seamless resilient and globally competitive GCC ecosystemsThe policy proposes the establishment of statelevel Facilitation Cells as single points of contact for investors along with targeted fiscal and regulatory incentives such as tax holidays customs duty exemptions for imported RampD equipment and viability gap funding for integrated infrastructure projectsIt also encourages investment in digital infrastructure including AIML computing support and edge data centres to ensure emerging hubs operate at global standardsIn addition the policy recommends collaboration between GCCs startups and research institutions to drive innovation in technologies like quantum computing ESGaligned solutions and enterprise softwareGreen infrastructure smart mobility affordable housing and civic amenities are highlighted as key factors to make statelevel hubs attractive for professionals and their familiesData security and IP facilitation frameworks tailored to local conditions are also emphasised to support dataintensive GCCsBanerjee said the model policy is designed to make GCC growth geographically inclusiveStates that act early and decisively will benefit from highquality employment stronger innovation ecosystems and deeper integration into global value chains Banerjee statedCII is ready to partner with states to operationalise these recommendations through task forces investment promotion campaigns and skill development initiatives he addedThe CII estimates that a wellexecuted GCC strategy across India could contribute nearly 200 billion in direct economic value by 2030 IANS https://dailyworld.in/business/ciis-model-state-gcc-policy-aims-to-create-millions-of-high-quality-jobs-across-india-director-general-639768.html Sun, 21 Sep 2025 16:22:00 +0530 https://dailyworld.in/business/pm-modis-gst-reform-historic-diwali-gift-to-nation-cm-yogi--639772.html Lucknow Sep 21 IANS Uttar Pradesh Chief Minister Yogi Adityanath on Sunday hailed the nextgeneration reforms in the Goods and Services GST Tax and thanked Prime Minister Narendra Modi for giving a historic Diwali gift to the nation including UP He lauded the move to forgo tax bracket on basic essentials like educational materials milk curd ghee cheese and other food products while imposing higher taxes on drugs and wasteful spendingnbspnbspSpeaking at the launch of the NaMo Yuva Run for drugfree India from his residence CM Yogi said the GST reforms will ease inflation for the poor make education more affordable and strengthen citizens purchasing power thereby boosting markets creating jobs and opening new avenues of progressHe stressed that the reform ensures welfare for traders relief for the poor and benefits for all consumers and urged that every resident of Uttar Pradesh be made aware of its significancenbspNoting that the BJP was observing Seva Pakhwada nationwide from September 17 to October 2 he said that the Bharatiya Janata Yuva Morcha workers are adding a transformative dimension to Seva Pakhwada through blood donation drives cleanliness campaigns and health camps linking the initiative with the vision of Viksit IndianbspSpeaking about the Azadi Ka Amrit Mahotsav CM Yogi recalled the Prime Ministers call to pledge towards building a Developed India by adopting five vows removing the vestiges of slavery respecting heritage honouring soldiers and uniformed forces promoting social equality and fulfilling civic duties with honestyThese vows will guide the nation towards development Inspired by this vision Uttar Pradesh has launched the Viksit India Viksit Uttar Pradesh campaign receiving overwhelming support from youth farmers workers entrepreneurs and intellectuals he remarkednbspHighlighting selfreliance as the foundation of progress the Chief Minister said that a selfreliant society emerges from a healthy society and events like the NaMo Marathon provide new direction and energy to youth Since 2014 Prime Minister Modi has accelerated several initiatives for health and youth empowermentnbspFurther addressing the youth he said that the youth power represents boundless energy when directed positively it can transform the nation When diverted towards drugs it leads only to ruinnbspHe noted that the NaMo Marathon serves as a strong call for the youth to stay away from addiction https://dailyworld.in/business/pm-modis-gst-reform-historic-diwali-gift-to-nation-cm-yogi--639772.html Sun, 21 Sep 2025 16:49:00 +0530 https://dailyworld.in/business/clarity-on-h-1b-visa-rules-to-ease-pressure-on-it-stocks-analysts-639774.html New Delhi Sep 21 US government clarification that visa holders returning to the country are exempt from the new 100000 fee will act as relief to Indian IT companies as markets open tomorrow analysts said on Sunday The government clarification also said that H1B petitions filed before the September 21 fee deadline will not incur the new 100000 feeAnalysts forecasted that IT stocks will see a decline of 3 to 5 per cent but the slip will not be significant as companies now can explore alternatives such as relocating employees to Canada or MexicoThey said that stocks that drop 15 to 25 per cent in the coming weeks present a longterm buying opportunity adding that a 35 per cent decline should be overlooked IT stocks may see some underperformance until trade negotiations produce a viable solutionFurther data from industry associations showed Indian IT firms are consistently decreasing their dependence on H1B visas Around 20 per cent of their staff work onsite in the US with a large portion of them hired locally and only 2030 per cent of those on H1B visas according to multiple reportsAdditionally H1B visa applications fell from 42671 in 2017 to 20870 in 2024The Nifty IT index has slipped around 16 per cent yeartodate whereas the Nifty 50 has increased by around 71 per cent HCL Technologies TCS and Infosys were major losers with declines over 28 per centUS Commerce Secretary Howard Lutnick defended the new visa rules as a corrective measure claiming that previous employmentbased visa policies allowed workers earning belowaverage salaries many of whom relied on government assistance to take jobs from American graduatesPresident Trump expects the revised feebased visa program to generate over 100 billion for the US Treasury designated for national debt reduction and tax cuts Critics however argued that the new fee hinders talent mobility and stifles innovationApproximately 71 per cent of H1B visa holders are from India primarily working for technology companies including Infosys Wipro Cognisant and Tata Consultancy Services IANS https://dailyworld.in/business/clarity-on-h-1b-visa-rules-to-ease-pressure-on-it-stocks-analysts-639774.html Sun, 21 Sep 2025 16:50:00 +0530 https://dailyworld.in/business/clean-plant-programme-to-strengthen-indias-horticulture-empower-farmers-639791.html New Delhi Sep 21 Nine Clean Plant Centres will be established across the country as part of the recently approved Rs 176567 crore Clean Plant Programme CPP the government said on Sunday The programme aims to boost Indias horticulture sector by providing virusfree planting material an official statement said A 98 million loan from the Asian Development Bank supports the initiative focused on key fruit crops including grapes oranges and pomegranatesOf the nine clean plant centres three will be set up in Maharashtra at a cost of Rs 300 crore Pune for grapes Nagpur for oranges and Solapur for pomegranates Large nurseries will receive up to Rs 3 crore each while medium units will get Rs 15 crore worth of assistance under the scheme collectively producing 8 crore diseasefree seedlings annuallyThe government said that the programme will increase yields enhance fruit quality and protect smallscale farmers from biotic and abiotic threatsThe Indian Council of Agricultural Research oversees technical progress and facilitates capacity building the statement said As of now 578 grapevine samples from seven states have been tested while 535 apple samples from Jammu and Kashmir Himachal Pradesh Uttarakhand and Punjab are under testing with hazard analysis in progressThe official CPP website has been launched as a central hub for resources updates and insights to revolutionise horticulture in India the statement saidFurther a nationallevel laboratory is to be set up in Pune for research on original plant species under CPP From January to March teams from ICAR NHB and ADB studied nursery ecosystems design operations and cost structures Then the team conducted lab assessments strengthened diagnostic and computational capabilitiesFurther they visited public and private labs for developing a bioinformatics pipeline for HTS data analysis under CPP This will help scientists more quickly and efficiently check for viruses in many types of crops and better test nursery plants to keep them safe and healthyIf acquired plant material tests negative it undergoes retesting before being used to propagate mother plants the release noted IANS https://dailyworld.in/business/clean-plant-programme-to-strengthen-indias-horticulture-empower-farmers-639791.html Sun, 21 Sep 2025 17:48:00 +0530 https://dailyworld.in/business/what-you-need-to-know-about-gst-20-as-tax-cuts-kick-in-on-monday-639799.html New Delhi Sept 21 Ahead of the beginning of GST rejig from Monday the Finance Ministry issued another detailed explanation of the cut in tax rates on goods and services announced as part of the reforms which aim to simplify rates remove anomalies and make the system easier for both businesses and consumers 1 Which life insurance policies are covered under the GST exemptionThe exemption applies to all individual life insurance policies including term plans endowment policies and ULIPs Reinsurance of these individual policies is also exempt2 Which health insurance policies are covered under the GST exemptionIndividual health insurance policies including family floater and senior citizen plans are exempt from GST Reinsurance of such individual policies is also exempt under this decision3 Will passenger transportation services be taxed at 18 per centNo Passenger transport by road will continue at 5 without ITC though operators may opt for 18 per cent with ITC In the case of air travel economy class is taxed at 5 per cent while other classes remain at 18 per cent4 What is the applicable GST rate on multimodal transport of goodsIf the multimodal transport does not include any air leg it is taxed at 5 per cent with limited ITC restricted to 5 per cent of the value If any portion involves air transport the applicable rate is 18 per cent with full ITC5 Who is liable to pay GST on local delivery services provided through an ECOIf local delivery services are provided through an ecommerce operator ECO by an unregistered person the ecommerce operator is responsible for paying GST If the service provider is registered then that provider is liable to pay the tax6 What is the GST rate applicable on local delivery servicesLocal delivery services are taxed at 18 per cent7 Is it necessary to recall and relabel the MRP on medicines already in the supply chain before September 22 2025 How will the relabelling be carried outNo recall of stock is required Manufacturers only need to issue revised price lists and share them with dealers retailers and regulators Stock already in the market can continue to be sold provided billing reflects the new prices8 Why havent all medicines been fully exempted from GSTExempting medicines would prevent manufacturers from claiming ITC on raw materials and inputs raising their production costs These costs would eventually be passed on to consumers Keeping medicines at a concessional 5 per cent rate except those specified at nil rate ensures affordability while allowing ITC to flow through the supply chain9 Why hasnt GST been removed on raw cottonCotton is taxed under reverse charge so farmers do not pay GST directly This system keeps the input tax credit chain intact for the textile industry which helps keep costs stable and benefits consumers10 What is the tax treatment for leasing or renting services without an operatorMajority of leasing or renting without operator is taxed at the same rate as the goods themselves For example if a car is taxed at 18 per cent then renting or leasing that car without a driver is also taxed at 18 per cent The same rule applies to other goods the tax on renting matches the tax on buying11 Will the revised GST rates also apply to imported goodsYes IGST on imports will be levied at the revised GST rates from 22nd September except where a specific exemption has been provided12 UHT Ultra High Temperature milk has been exempted Does this exemption also apply to plantbased milkNo The exemption is only for dairy UHT milk Plantbased milk drinks like almond milk earlier attracted 18 per cent GST and soya milk drinks 12 per cent Now all plantbased milk drinks including soya milk will be taxed at 513 Why has GST on face powders and shampoos been reduced and will this not also benefit MNCs and luxury brandsFace powders and shampoos are common household items used across all sections of society While premium or luxury brands will also see the benefit the main purpose of the rate cut is to simplify the GST system Having separate rates based on brand or price would make the tax structure complicated and difficult to administer IANS https://dailyworld.in/business/what-you-need-to-know-about-gst-20-as-tax-cuts-kick-in-on-monday-639799.html Sun, 21 Sep 2025 18:53:00 +0530 https://dailyworld.in/business/hm-amit-shah-to-inaugurate-startup-conclave-2025-in-gandhinagar-on-sep-23-639830.html Gandhinagar Sep 21 Union Home Minister Amit Shah will inaugurate the Startup Conclave 2025 at Mahatma Mandir in Gandhinagar on Tuesday The twoday event organised by the Gujarat governments Education department will see the participation of Chief Minister Bhupendra Patel and the State Higher and Technical Education Minister Rushikesh Patel at the opening ceremonyBringing together the countrys most dynamic voices in innovation entrepreneurship and investment the conclave will feature more than 1000 startups 5000 innovators 100 industry mentors 50 plus venture funds and leading policymakers on a single platformSpread across September 23 to 24 the event aims to set a new benchmark for Indias startup ecosystem by bridging the gap between earlystage ventures and top investorsA highlight of the conclave will be investor pitching sessions where more than 50 shortlisted startups will present their ideas across multiple parallel tracks before Indias leading venture capitalistsThese sessions are expected to unlock funding opportunities worth Rs 250 crore building on the success of the Startup Conclave 2023Ahead of the event investors interest has already resulted in letters of intent and financial commitments of Rs 150 crore for promising startupsThe conclave will also showcase 170 startups from 20 states including those selected by Startup India Ministry of Electronics and Information Technology MeitY and innovations for defence excellence iDEXExhibitions will span critical sectors such as defence aerospace healthcare clean energy agritech deep tech and social impact innovations underlining Indias entrepreneurial drive towards Atmanirbhar BharatThe thematic pavilions will highlight Gujarats strengths in electric vehicles semiconductors augmented realityvirtual reality fintech green hydrogen drones and space technologiesThe opening session will feature the release of a Startup Conclave Coffee Table Book NEP2020 Dashboard and Indian Knowledge System CompendiumThe state government will also facilitate the signing of 50 MoUs between startups investors and financial institutions alongside the distribution of funding cheques and Letters of Intent to selected venturesIn addition to exhibitions and B2B networking opportunities the conclave will host plenary sessions and roundtable conferences on key themes such as emerging opportunities in sunrise sectors the journey of Indias unicorns the role of womenled startups and the impact of digital transformationA special Unicorn Roundtable chaired by Minister Rushikesh Patel will bring together unicorn founders policymakers and investors to shape the future of Indias innovation economyThe Startup exhibition a central attraction of the conclave will offer startups direct access to policymakers industry leaders investors and mentorsExperts from platforms such as iDEX Startup India MeitY Startup Hub Indian National Space Promotion and Authorisation Centre INSPACe Gujarat Venture Finance Limited and Gujarat International Finance TecCity GIFT City will participate offering B2B mentorship gotomarket strategies and investor linkages IANS https://dailyworld.in/business/hm-amit-shah-to-inaugurate-startup-conclave-2025-in-gandhinagar-on-sep-23-639830.html Sun, 21 Sep 2025 22:22:00 +0530 https://dailyworld.in/business/india-inc-hails-pm-modis-clarion-call-to-boost-swadeshi-drive-powered-by-gst-20-639831.html New Delhi Sep 21 Apex business chamber CII hailed Prime Minister Narendra Modis clarion call on Sunday to boost domestic manufacturing and demand for Indianmade products giving a fresh momentum to the Swadeshi campaign powered by the cut in taxes under GST 20 The Prime Ministers address marks a landmark for Indias growth path with the reduction of taxes on essential and dailyuse products under GST 20 reforms poised to enhance disposable incomes for households and stimulate domestic demand the Confederation of Indian Industry CII said in a statementThese reforms which will kick in from Monday will significantly boost domestic manufacturing and demand for Indianmade products giving fresh momentum to the Swadeshi movement it saidBy focusing on manufacturing and supporting Swadeshi Indian industry is poised to become more selfreliant and globally competitive accelerating Indias journey towards Aatmanirbhar and Viksit Bharat the statement addedOn behalf of CII I congratulate the Prime Minister and the government for unveiling the GST 20reforms under the GST Bachat Utsav CII President Rajiv Memani saidPM Modi in his address to the nation on Sunday gave a clarion call for industry and consumers to push for creating a Swadeshi economy He remarked that just as the mantra of Swadeshi empowered Indias freedom struggle it will similarly energise the nations journey toward prosperity He highlighted that many foreign items have unknowingly become part of daily life and citizens often do not even realise whether the comb in their pocket is foreign or indigenousThe PM emphasised the need to liberate ourselves from such dependence and urged people to buy products that are Made in India infused with the hard work and sweat of the countrys youthHe called for every household to become a symbol of Swadeshi and every shop to be adorned with indigenous goods The PM encouraged citizens to proudly declare their commitment to SwadeshiI buy Swadeshi I sell Swadeshi and stated that this mindset must become intrinsic to every IndianHe asserted that such a transformation will accelerate Indias development He appealed to all state governments to actively support the Aatmanirbhar Bharat and Swadeshi campaigns by boosting manufacturing in their regions with full energy and enthusiasm and by creating a conducive environment for investment The Prime Minister affirmed that when the Centre and states move forward together the dream of a selfreliant India will be fulfilled every state will develop and India will become a developed nation IANS https://dailyworld.in/business/india-inc-hails-pm-modis-clarion-call-to-boost-swadeshi-drive-powered-by-gst-20-639831.html Sun, 21 Sep 2025 22:22:00 +0530 https://dailyworld.in/business/jampk-l-g-joins-cleanliness-drive-in-srinagars-dal-lake-as-part-of-sewa-parv-639736.html Srinagar Sept 21 More than onethird of the famous Dal Lake in Jammu and Kashmirs Srinagar city has been rejuvenated and the area of the Lake has grown to 203 sq km during the last five years LG Manoj Sinha said on Sunday The LG on Sunday joined the cleanliness campaign in the Dal Lake during which weeds and unwanted aquatic grasses were removedThe LG posted on X As part of Sewa Parv joined Dal Lake Cleanliness Drive During the last five years work for the preservation of DalNigeen Lake and in the catchment area has been undertaken in a mission mode Dal Lake is cleaner and attracting large numbers of domestic and international visitorsMore than onethird of Lake has been rejuvenated and vast areas were cleared of Lilies and an open expanse of Dal Lake has been increased for the first time to more than 203 sq km I called upon citizens to preserve lakes rivers and other water bodies through community involvement his post readKnown as the natural lungs of Srinagar city which is home to over 126 million people the Dal Lake is its main tourist attraction and a water body that sustains aquatic life and the livelihood of thousands of peopleIt is an urban lake the second largest lake in Jammu and Kashmir and the most visited place in Srinagar by tourists and locals It is integral to tourism and recreation in the Kashmir Valley and is variously known as the Lake of Flowers Jewel in the crown of Kashmir or Srinagars JewelThe lake is also an important source for commercial operations in fishing and water plant harvesting The shoreline of the lake about 155 kms long is encompassed by a boulevard lined with Mughal gardens parks houseboats and hotelsScenic views of the lake can be witnessed from the shoreline Mughal gardens such as Shalimar Bagh and Nishat Bagh built during the reign of Mughal Emperor Jahangir and from houseboats cruising along the lake in the colourful ShikarasDuring the winter season the temperature can sometimes reach as low as minus 11 degrees Celsius freezing the lake The lake covers an area of 18 square kilometres and is part of a natural wetland which covers 211 square kilometres including its floating gardensThe floating gardens known as Raad in Kashmiri blossom with lotus flowers during July and August The wetland is divided by causeways into four basins Gagribal Lokut Dal Bod Dal and Nigeen although Nigeen is also considered as an independent lakeLokut Dal and Bod Dal each have an island in the centre known as Rupa Lank or Char Chinari and Sona Lank respectivelyAt present the Dal and the Mughal gardens on its periphery are undergoing intensive restoration measures to fully address the serious eutrophication problems experienced by the lakeThe union government is making massive investments of approximately Rs 11 billion to restore the lake to its original splendour IANS https://dailyworld.in/business/jampk-l-g-joins-cleanliness-drive-in-srinagars-dal-lake-as-part-of-sewa-parv-639736.html Sun, 21 Sep 2025 12:04:00 +0530 https://dailyworld.in/business/poco-festive-madness-battery-kings-under-rs-30-000-unleashed-this-big-billion-days-639737.html New Delhi Sep 21 This festive season power meets performance as POCO brings you a lineup of smartphones that redefine battery innovation and endurance Designed to keep up with your nonstop lifestyle these devices combine cuttingedge performance longlasting power and unbeatable festive discounts Whether its gaming marathons allday streaming or nonstop social scrolling these flagshipgrade smartphones ensure you never run out of charge or speed making them the ultimate picks under Rs 30000 this Flipkart Big Billion DaysPOCO M7 5GThe POCO M7 5G stands out with its massive 5160mAh battery supported by 33W inbox charging ensuring reliable power that easily lasts up to 15 days on moderate useAlongside its impressive endurance it packs up to 12GB RAM including 6GB Turbo RAM the powerful Snapdragon 4 Gen 2 chipset a 50MP Sony camera and a large 688 HD display making it the segments fastest 5G smartphone built for both performance and longevityThe POCO M7 5G originally launched at Rs 10499 will now be available at an exciting 17 per cent discount for just Rs 8499POCO M7 Plus 5GThe POCO M7 Plus 5G is a powerhouse packing the largestinsegment 7000mAh battery with 18W reverse charging that keeps you going for days without worry It features a massive 69 FHD display with up to 144Hz refresh rate for a smooth immersive experience and is now available in a new 4GB RAM variant due to strong consumer demandThe M7 Plus also delivers reliable performance and versatile cameras making it a wellrounded choice for power usersOriginally priced at Rs 12999 the smartphone will be up for grabs at an irresistible 15 per cent discount bringing the price down to just Rs 10999POCO X7 Pro 5GAt the heart of the POCO X7 Pro is its massive 6550mAh Silicon Carbon battery designed to deliver allday endurance while keeping the phone slim and lightweight In realworld usage it easily provides up to 9 hours of screen time and with 90W fast charging it powers back to 100 per cent in just 45 minutesComplementing this powerhouse battery is the MediaTek Dimensity 8400 Ultra chipset which helps the X7 Pro clock an impressive 17M Antutu score making it the segments most powerful smartphone for heavyduty usersOriginally priced at Rs 27999 the smartphone is now available at just Rs 19999 a massive 29 per cent discountPOCO F7 5GBuilt for performance seekers the POCO F7 5G combines flagshiplevel power with Indias largest 7550mAh siliconcarbon battery and the cuttingedge Snapdragon 8s Gen 4 processor Its massive cell is almost impossible to drain in a day even heavy testing barely dents the chargeAnd when its time to top up 90W fast charging takes it from 0 to 100 per cent in just about 85 minutes With an AnTuTu score crossing 21 million the F7 5G delivers unmatched endurance and seamless performance making it the ultimate choice for users who demand moreLaunched at Rs 31999 the POCO F7 5G is now available for just Rs 28999 a 9 per cent discountWith unmatched endurance performance cuttingedge innovation and festivefirst pricing POCO is ensuring Indias young techsavvy generation has more reasons to celebrate this Big Billion DaysPOCO is fueling excitement among Indias young techsavvy consumers and ensuring that the 2025 Big Billion Days Sale is one to rememberFlipKart Link httpswwwflipkartcompocobbdintrigue2025atstorePOCO C71 Airtel Edition Launched at Rs 6499 now available at Rs 5599 with a 14 per cent discountPOCO C71 Priced at Rs 6499 now at Rs 6299 after a 3 per cent discountPOCO C75 Originally Rs 8499 now available for Rs 7399 at a 13 per cent discountPOCO M7 5G Airtel Edition Launched at Rs 10499 now just Rs 7799 with a massive 26 per cent discountPOCO M7 5G Priced at Rs 10499 now at Rs 8499 with a 19 per cent discountPOCO M7 Plus 5G From Rs 12999 now available at Rs 10999 after a 15 per cent discountPOCO M7 Pro 5G Launched at Rs 14999 now priced at Rs 11499 with a 23 per cent discountPOCO X7 5G Originally Rs 21999 now down to Rs 14499 with a massive 34 per cent discountPOCO X7 Pro 5G From Rs 27999 now just Rs 19999 with a 29 per cent discountPOCO F7 5G Launched at Rs 31999 now available for Rs 28999 at a 9 per cent discount IANS https://dailyworld.in/business/poco-festive-madness-battery-kings-under-rs-30-000-unleashed-this-big-billion-days-639737.html Sun, 21 Sep 2025 12:19:00 +0530 https://dailyworld.in/business/us-tech-firms-urge-h-1b-visa-workers-to-return-before-sunday-deadline-639570.html New Delhi Sep 20 US tech films like Microsoft have advised employees with H1B and H4 visas who are currently outside the United States to return immediately ahead of the September 21 deadline set by President Donald Trump when the 100000 fee on H1B visa comes into effect The US administration has imposed a 100000 annual fee on each visa The new rule will take effect on September 21 and remain in force for 12 months the US President saidAccording to reports companies like Microsoft and JPMorgan have instructed H1B workers currently in the US to continue their employment in the country for the foreseeable future and avoid international travel until further guidanceMicrosoft has also reportedly recommended H4 visa holders to remain in the US We strongly recommend H1B and H4 visa holders return to the US tomorrow before the deadline according to the companyThere was no official statement yet from either Microsoft or JPMorganPresident Trump expects the revised feebased visa programme to generate over 100 billion for the US Treasury designated for national debt reduction and tax cuts Critics however argued that the new fee hinders talent mobility and stifles innovationApproximately 71 per cent of H1B visa holders are from India primarily working for technology companies including Infosys Wipro Cognisant and Tata Consultancy ServicesShares of major IT services firms including USlisted Indian companies dropped by 2 per cent to 5 per cent following the announcementWith visas typically valid for three years and renewable up to six the new 100000 annual fee could make it expensive for companies to retain Indian professionals especially given the decadeslong wait for Green CardsThe H1B programme allows US companies to hire skilled foreign workers in fields like technology and engineering IANS https://dailyworld.in/business/us-tech-firms-urge-h-1b-visa-workers-to-return-before-sunday-deadline-639570.html Sat, 20 Sep 2025 11:32:00 +0530 https://dailyworld.in/business/mauritius-it-minister-lauds-indias-c-dot-lab-urges-deeper-bilateral-collaboration-639577.html New Delhi Sep 20 Mauritiuss Minister for Information Technology Communication and Innovation Dr Avinash Ramtohul who visited the Centre for Development of Telematics CDOT here has urged the need for deeper collaboration between the two countries in emergency alerting and telecom innovation the Ministry of Communications said The minister commended the centres disastermanagement and cybersecurity initiatives Ramtohul assessed CDOTs Early Warning System and Cell Broadcast solution and commented on its implementation nationwide to notify citizens including fishing communities of impending natural hazardsCDOTs cybersecurity stack includes a realtime Security Operations Centre Quantum Key Distribution PostQuantum Cryptography and SAMVADa a secure chat and calling application the Ministry saidCDOT CEO Dr Rajkumar Upadhyay introduced the Mauritius delegation to diverse telecom product portfoliossolutions in the areas of key applications such as Disaster management solution using ITU CAP protocol and Cell Broadcast solutionThe CEO also demonstrated new telecom innovations including 4G and 5G core and RAN networks switching and routing platformsThe solution is highly beneficial and would help in saving the lives of citizens including the fishermen community This engagement has set the stage for deeper forwardlooking collaboration in emergency alerting and telecom innovation Ramtohul saidHe also appreciated the RampD efforts of CDOTs research community and stressed the need for a larger collaboration for the development of futuristic and cuttingedge telecom solutions for mutual benefitsCDOT the RampD arm of the Department of Telecommunications has led Indias rural connectivity efforts and is currently exploring 6G use cases the Ministry notedOver the past four decades CDoT has been at the forefront of Indias telecom revolution bringing connectivity to rural areas powering the ambitious BharatNet NOFN project and delivering cuttingedge solutions in cyber security disaster management 4G5G next generation networks AI Network Management Systems IoTM2M applications among others IANS https://dailyworld.in/business/mauritius-it-minister-lauds-indias-c-dot-lab-urges-deeper-bilateral-collaboration-639577.html Sat, 20 Sep 2025 12:00:00 +0530 https://dailyworld.in/business/india-aims-to-double-seafood-exports-to-15-billion-by-2030-639603.html New Delhi Sep 20 India has emerged as a global leader in seafood exports currently supplying to 132 countries and the nation has set an aim to double its exports to 15 billion by 2030 a report said on Saturday India has shipped 1698170 tonnes of seafood worth Rs 6240845 crore 745 billion during 202425 as against exports of 1781602 tonnes in 202324 worth Rs 6052389 crore 738 billion reflecting the sectors strong resilience despite global trade fluctuationsThe fisheries sector also supports the livelihood of more than 30 million fishers and fish farmers highlighting its crucial role in the nations economy Seafood Exporters Association of India SEAI said in a report ahead of SEAIs India International Seafood Show 2025The 24th edition of the India International Seafood Show Asias premier seafood trade fair will be held from September 25 to 28 at Bharat Mandapam hereThis years edition will be part of World Food India 2025 the Government of Indias flagship global food innovation event that celebrates Indias culinary heritage and fosters partnerships across the food value chainIISS showcases the tremendous growth of Indias seafood export sector As we mark our golden jubilee this event will help us strengthen our global position and expand into new markets said SEAI President Pawan KumarSEAI SecretaryGeneral KN Raghavan added Our motto Sustainably Harvested Humanely Sourced reflects our deep commitment to ethical sourcing and responsible aquaculture practicesIISS2025 will be a platform to address challenges such as skill development sustainability and innovation he said furtherIISS2025 will feature over 260 stalls technical sessions and roundtables bringing together participants from more than 15 countries Including major markets such as the United States the European Union Vietnam the UAE Germany Belgium Japan China and others SEAI stated in the report IANS https://dailyworld.in/business/india-aims-to-double-seafood-exports-to-15-billion-by-2030-639603.html Sat, 20 Sep 2025 13:50:00 +0530 https://dailyworld.in/business/centre-enables-gst-grievance-redressal-on-national-consumer-helpline-639604.html New Delhi Sep 20 The Department of Consumer Affairs on Saturday launched a dedicated GST grievance category on the National Consumer Helpline to address queries and complaints related to the GST 20 reforms The National Consumer Helpline can be accessed at the tollfree number 1915 or online in 16 Indian languages and in English functioning as a single prelitigation point of access for consumers across the country to register grievances at the prelitigation stageConsumers can also register GSTrelated complaints through the Integrated Grievance Redressal Mechanism INGRAM portal covering key sectors such as automobiles banking consumer durables ecommerce and fastmoving consumer goods The GST reforms will take effect from September 22To address the expected consumer queries and complaints on National Consumer Helpline following the implementation of revised GST charges rates and exemptions a dedicated category has been enabled on the INGRAM portal the Ministry of Consumer Affairs Food amp Public Distribution saidOn September 11 officials from the Central Board of Indirect Taxes and Customs conducted an inaugural training session to equip National Consumer Helpline counsellors to handle GSTrelated queries and grievances effectivelyConsumer complaint data and insights will be shared with affected companies the CBIC and other authorities to enable prompt action under relevant laws enhance GST compliance and support a participatory governance model the Ministry saidThe omnichannel platform supports multiple registrations via WhatsApp SMS email a dedicated app web portal and the Umang app the ministry saidThe technological transformation of the National Consumer Helpline has significantly boosted its callhandling capacity the government informed Call volumes grew from 12553 in December 2015 to 155138 in December 2024Similarly the average number of complaints registered per month has surged from 37062 in 2017 to 170585 in 2025Around 65 per cent of grievances are now filed digitally Each complaint is assigned a unique docket number for transparent tracking and resolution the ministry noted IANS https://dailyworld.in/business/centre-enables-gst-grievance-redressal-on-national-consumer-helpline-639604.html Sat, 20 Sep 2025 13:52:00 +0530 https://dailyworld.in/business/second-nuclear-plant-coming-up-in-banswara-to-boost-rajasthans-energy-capacity-639605.html Jaipur Sep 20 After a gap of nearly 52 years Rajasthan is gearing up for its second nuclear power plant in Banswara following the success of the Rawatbhata Nuclear Power Plant in Chittorgarh Once operational and with further capacity expansion at Rawatbhata the states total nuclear power generation is expected to reach 6680 MW marking a major milestone in Rajasthans journey towards becoming a nuclear energy hubRajasthans energy sector continues to chart an impressive growth trajectoryAlready holding the distinction of being ranked number one in the country for renewable energy the state is now poised to make significant strides in the nuclear energy sector as wellAfter a gap of nearly 52 years Rajasthan is set to establish its second nuclear power plant in Banswara following the successful operation of the Rawatbhata Nuclear Power Plant in ChittorgarhOnce the Banswara project is operational and planned expansions at Rawatbhata are complete the states total nuclear power generation capacity will rise to an estimated 6680 MW positioning Rajasthan as a major hub for nuclear energy in India This expansion aligns with the states longterm vision of enhancing its role in Indias clean energy mission said officialsTo support the growing nuclear sector uranium exploration activities have gained momentumUranium reserves have been discovered in Khandela Sikar district where the Atomic Minerals Directorate is actively workingFurther exploration is also underway in regions of Udaipur Dausa and other parts of Sikar which is expected to reduce the states future dependency on external sources of nuclear fuelIn terms of projectspecific developments the Rawatbhata Nuclear Power Plant established in 1963 in collaboration with Canada currently has seven operational units with a total capacity of 1780 MWThe eighth unit 700 MW is nearing commissioning while plans for the ninth and tenth units 700 MW each are in progress taking the total planned capacity to 3880 MWNationally India operates 24 nuclear reactors with a combined capacity of 8080 MW With the addition of Rajasthans new units this figure will rise to 10180 MW making Rawatbhata the largest nuclear facility in the country surpassing even Kudankulam in Tamil Nadu which currently has a capacity of 2000 MWThe upcoming Banswara Nuclear Power Project will add another 2800 MW with an estimated investment of Rs 50000 crore This project is a joint venture between NTPC and NPCIL and will significantly boost Rajasthans nuclear infrastructureExperts emphasise that the development of nuclear energy in Rajasthan particularly through the Rawatbhata and Banswara projects will play a crucial role in enhancing Indias energy security while contributing significantly to the nations green energy goals over the next decade IANS https://dailyworld.in/business/second-nuclear-plant-coming-up-in-banswara-to-boost-rajasthans-energy-capacity-639605.html Sat, 20 Sep 2025 13:53:00 +0530 https://dailyworld.in/business/h-1b-visa-fee-hike-govt-assessing-the-situation-with-nasscom-639611.html New Delhi Sep 20 The government and the IT industrys apex body Nasscom are assessing the fallout of the US administrations decision to impose a 100000 annual fee on H1B visas from September 21 According to government sources New Delhi is in touch with the Indian Embassy in Washington DC and is also holding consultations with the leading tech industry body Nasscom hereThe new H1B costs are expected to affect the US companies the most as these rely heavily on Indians for specialised and highskilled tech rolesAccording to experts this may also trigger a new wave of global capability centres GCCs in India to meet the shortage of talent in the US after the new visa fee ruleIndians hold the highest number of H1B visas followed by ChinaMeanwhile GCCs are preparing for a talent expansion in India with 48 per cent of GCCs planning to increase their workforce beyond 2024 levelsFinance Minister Nirmala Sitharaman said this week that India today hosts nearly half of the worlds Global Capability Centres GCC which are now at the forefront of innovation RampD and leadership creationGCCs will consolidate Indias leadership in innovation and job creation and with the right policies infrastructure and skilling this sector can define our journey to Viksit Bharat 2047 she said while addressing the Special Ministerial Plenary and Report Back at the CII GCC Business SummitThe USbased companies have traditionally accounted for nearly 70 per cent of total GCC absorption since 2021 In recent years GCCs from the UK EMEA and APAC regions have also expanded their footprint steadily strengthening their presence in IndiaIndia has approximately 1700 GCCs with a projection to reach over 2100 by 20292030According to CP Gurnani Cofounder and Chief Executive Officer AIonOS over the past several years the Indian IT firms have significantly reduced their reliance on the H1B visa with filings dropping by over 50 per centThis shift is a result of our ongoing strategy to hire more locally invest in automation and enhance our global delivery models While visa fees may change the impact on our business will be minimal as weve already adapted to this evolving landscape he mentioned IANS https://dailyworld.in/business/h-1b-visa-fee-hike-govt-assessing-the-situation-with-nasscom-639611.html Sat, 20 Sep 2025 14:13:00 +0530 https://dailyworld.in/business/apple-to-clock-record-sales-in-india-during-festive-season-with-28-pc-growth-analysts-639624.html New Delhi Sep 20 US tech giant Apple is set to achieve its highest festivesales count in India with analysts forecasting a 28 per cent yearonyear sales increase in 2025 owing to the early success of the iPhone 17 series Counterpoint research forecasted record growth in sales owing to an aggressive n1 strategy during the festive season and the 17 series performed better than the 16 seriesAnalysts said that the first week of sales for the iPhone 17 series is 19 per cent higher than the iPhone 16 seriesApple is effectively capitalising on the premiumisation trend in India said Research Director at Counterpoint Research Tarun PathakPro and Pro Max models are experiencing the highest demands with stockouts reported across various channels and the Cosmic Orange variant being particularly popular Pathak saidUpgrading the base variant to 256GB along with cashback offers and up to 24month EMIs enhances its value significantly he saidThe new iPhone 17 Air despite a higher price is gaining stronger traction than last years Plus model Pathak addedFurther the initial demand is outpacing supply and securing inventory especially for the 17 Pro models is a challenge for retailersPrabhu Ram VP Industry Research Group IRG CMR said that Apple is on track to cross 45 million shipments this festive quarter with the new iPhone Air poised to generate fresh tractionHe also said that prebookings for the iPhone 17 line are surpassing last years figures positioning Apple for continued momentum through DiwaliApple launched iPhone 17 on September 9 featuring the new Centre Stage front camera a 48MP Fusion Main camera with an optical quality 2x Telephoto and a new 48MP Fusion UltraWide camera that captures expansive scenes and macro photography in more detailThe 63inch Super Retina XDR display with ProMotion is bigger and brighter the company claimed With the new Ceramic Shield 2 the front cover is reported to be tougher with 3x better scratch resistance than the previous generation and reduced glare The phone is powered by the latestgeneration A19 chip for higher performance and longevity IANS https://dailyworld.in/business/apple-to-clock-record-sales-in-india-during-festive-season-with-28-pc-growth-analysts-639624.html Sat, 20 Sep 2025 15:47:00 +0530 https://dailyworld.in/business/epfo-makes-pf-transfer-easier-annexure-k-now-available-online-639634.html New Delhi Sep 20 The Employees Provident Fund Organisation EPFO has introduced a significant change that will make it easier for professionals to transfer their provident fund balance when switching jobs Members can now download Annexure K a crucial document needed for PF transfers straight from the EPFO Member Portal according to a circular released earlier this week by the Union Labour MinistryUntil now employees could only access Annexure K upon request and it was only shared between PF offices which frequently caused delays and inconvenience By giving members immediate online access to the document the reform seeks to improve convenience and transparencyBecause it includes detailed information about an employees provident fund account including member information the PF balance with interest full service history job details and joining and exit dates Annexure K is essential for the PF transfer processWhen an employee changes jobs this transfer certificate guarantees that their pension service and PF accumulations are correctly transferred to a new accountAccording to the Labour Ministry the new rule will guarantee a smoother transfer process enable employees to check the status of their transfer applications online and confirm the accuracy of their PF balance and service period in the new accountBy logging into the EPFO member portal going to the online services section selecting Track Claim Status and then selecting the option to download Annexure K in PDF format employees can obtain the documentSteps to download Annexure K Log in to the EPFO member portal using your details go to Online Services select Track Claim Status and click on Download Annexure KEarlier Union Minister for Labour and Employment Dr Mansukh Mandaviya also introduced a new facility called Passbook Lite which will enable members to easily check their passbook and related summarised view of their contributions withdrawals and balance in a simple and convenient format through the member portal itself without having to go to the passbook portalAs part of the changes made to guarantee that members receive effective transparent and userfriendly services the EPFO has added a new feature called Passbook Lite to its member portalBy offering all essential services including passbook access with a single login this initiative is anticipated to enhance the user experience However members can still use the current Passbook Portal to view all of the passbook details including a graphical display IANS https://dailyworld.in/business/epfo-makes-pf-transfer-easier-annexure-k-now-available-online-639634.html Sat, 20 Sep 2025 17:14:00 +0530 https://dailyworld.in/business/repression-in-china-both-a-political-imperative-and-a-profitable-business-report-639645.html New Delhi Sep 20 Leaked documents from two Chinese firms infrastructure builder Geedge Networks and AI company GoLaxy have revealed how repression in China is both a political imperative and a profitable business illustrating that the country is not only perfecting digital authoritarianism at home but also packaging it for export according to a report in The Diplomat The leaked internal files from Geedge Networks laid bare how Geedge sold itself as a cybersecurity company while actually building censorship and surveillance infrastructure the report mentionedGoLaxy was exposed when researchers at Vanderbilt University uncovered nearly 400 pages of internal planning documents It is a Beijingbased company that has emerged as a major player in deploying AI tools that monitor influence and manipulate narratives onlineTogether these leaks have provided an unprecedented window into the mechanics of Chinas censorship and propaganda apparatus the report addedIt further stated that the products they sell differ though they complement each other within the larger control systemGeedge is an infrastructure builder Its flagship product the Tiangou Secure Gateway is essentially a turnkey firewall in a box It performs deep packet inspection blocks VPNs and other circumvention tools fingerprints devices analyzes metadata and even offers prototype reputationbased access controls according to the reportGoLaxy systems ingest opensource social media data map relationships among political actors and influencers and use artificial intelligence to generate content for orchestrated campaignsDashboards allow operators to monitor discourse around sensitive topics Taiwan Hong Kong Xinjiang US politics and plan interventions by seeding narratives or amplifying favoured voices Where Geedge builds the pipes for information control GoLaxy provides the tools to flood those pipes with content aligned to government priorities the Diplomat report explainedGeedge has even reached abroad marketing its Great Firewall in a box to regimes that want Chinesestyle control Reports show deployments in Kazakhstan Pakistan Ethiopia and MyanmarUnlike Geedge GoLaxy does not yet appear to export its tools widely to foreign regimes instead it focuses on strengthening the CCPs domestic propaganda system and building the capacity for global influence campaigns said the reportThe report further stated that these client patterns reveal how both firms embody the partystates dual strategy to perfect control at home and to promote its model abroadBoth companies also maintain close ties to the Chinese Academy of Sciences CAS Chinas premier research institution This makes clear that China has turned repression into an export industry the report stressed IANS https://dailyworld.in/business/repression-in-china-both-a-political-imperative-and-a-profitable-business-report-639645.html Sat, 20 Sep 2025 17:50:00 +0530 https://dailyworld.in/business/all-efforts-to-promote-make-in-india-start-yielding-robust-results-piyush-goyal-639667.html New Delhi Sep 20 All the efforts that were taken to promote the Make In India programme have started yielding stronger results Commerce and Industry Minister Piyush Goyal said on Saturday The minister while addressing an event on Celebrating 10 Years of Make in India said that we are all in the mission mode to make it easier to do business in India to promote manufacturing in India and to support trade and industry business and commerce including international tradeGoyal stated that by doing so we can see faster growth in the country indicating the recent GDP growth rate in the first quarter of this fiscal yearAnybody in the room would imagine we would grow 78 per cent in this first quarter It beat all economists expectations and well continue to beat them right up to 2047 the minister highlightedThe commerce minister underlined that its a race to make India a 3032 trillion economy when we celebrate 100 years of independenceHitting out at previous governments Goyal said that in the past once the roads were clogged then the infrastructure was built once the ports were overburdened then new ports were built and once airports ran out of capacity then we started planning a new airportNow Jewar international airport in UP is coming up next month whereas we still have capacity in the New Delhi airport We are anticipating growth the minister told the gatheringBy the end of this month the new airport in Mumbai will start opening up a plethora of opportunities for the state of Maharashtra and for that whole region he addedThe minister highlighted the outcome of his recent twoday visit to the UAEWe just came back many of us in this room were in the UAE for the last two days 1819 September where more than 75 industry leaders across the sectors textiles marine fisheries pharmaceuticals leather goods all of them converged Goyal saidHe said it was a fruitful event and the excitement in the Gulf region for India particularly in the UAE was palpableI really can see a lot of potential in that initiative in that region We have crossed a 100 billion bilateral trade between the UAE and India after the FTA Goyal notedIn the HighLevel Task Force on Investments we have reset our target that in the next three to four years where we will do 100 billion of nonoil nonprecious metal trade with the UAE he informedThe minister said that the Bharat Mart is coming up by early 2027 which will give MSMEs an opportunity to showcase their products have a warehousing facility and have quick logistics from there to be able to supply across the globe IANS https://dailyworld.in/business/all-efforts-to-promote-make-in-india-start-yielding-robust-results-piyush-goyal-639667.html Sat, 20 Sep 2025 18:56:00 +0530 https://dailyworld.in/business/all-efforts-to-promote-make-in-india-started-yielding-results-piyush-goyal-639668.html New Delhi Sep 20 All the efforts that were taken to promote the Make In India programme have started yielding results Commerce and Industry Minister Piyush Goyal said on Saturday The minister while addressing an event on Celebrating 10 Years of Make in India said that we are all in mission mode to make it easier to do business in India to promote manufacturing in India to support trade and industry business and commerce including international tradeGoyal stated that by doing so we can see faster growth in the country indicating the recent GDP growth rate in the first quarter of this fiscal yearAnybody in the room would imagine we would grow 78 per cent in this first quarter It beat all economists expectations and well continue to beat them right up to 2047 the minister highlightedThe commerce minister underlined that its a race to make India a 3032 trillion economy when we celebrate 100 years of IndependenceHitting out at previous governments Goyal said in the past once the roads were clogged then the infrastructure was built once the ports were overburdened then new ports were built and once airports ran out of capacity then we started planning a new airportNow Jewar is coming up next month whereas we still have capacity in the New Delhi airport We are anticipating growth the minister statedBy the end of this month the new airport in Mumbai will start opening up a plethora of opportunities for the state of Maharashtra and for that whole region he addedThe minister highlighted the outcome of his recent twoday visit to the UAEWe just came back many of us in this room were in the UAE for the last two days September 1819 where more than 75 industry leaders across the sectors textiles marine fisheries pharmaceuticals leather goods all of them converged Goyal saidHe said that it was a fruitful event and the excitement in the Gulf region for India particularly in the UAE was palpableI really can see a lot of potential in that initiative in that region We have crossed a 100 billion bilateral trade between the UAE and India after the FTA Goyal notedAnd in this visit to the HighLevel Task Force on Investments we have reset our target that in the next three to four years we will do 100 billion of nonoil nonprecious metal trade with the UAE he saidThe minister informed that the Bharat Mart is coming up by early 2027 which will give MSMEs an opportunity to showcase their products have a warehousing facility and have quick logistics from there to be able to supply across the globe IANS https://dailyworld.in/business/all-efforts-to-promote-make-in-india-started-yielding-results-piyush-goyal-639668.html Sat, 20 Sep 2025 18:57:00 +0530 https://dailyworld.in/business/centre-unveils-comprehensive-logistics-cost-assessment-to-boost-global-competitiveness-639691.html New Delhi Sep 20 For the first time India will have a comprehensive and scientifically derived estimate of logistics costs using a hybrid methodology that combines secondary data with nationwide surveys the government said on Saturday The initiative follows the mandate of the National Logistics Policy 2022 to establish a uniform framework for measuring logistics costs and benchmarking them against global practicesOn the occasion of marking a decade of Make in India Commerce Minister Piyush Goyal launched a report on Assessment of Logistics Cost in India at an event hereHe highlighted that the government has undertaken multiple initiatives to make logistics more competitive and reduce the cost of doing business in IndiaThe minister noted that studies and reports prepared by the Industry and Commerce Departments are helping identify key issues in logistics costsEfforts such as mapping each Harmonised System of Nomenclature HSN code to the respective line ministry streamline coordination and strengthen Indias position in free trade agreement FTA negotiationsHe further emphasised that the creation of a logistics data bank the implementation of integrated state and city logistics plans under the SMILE programme in collaboration with the ADB and infrastructure projects spearheaded by NICDC and other agencies aim to assess available facilities improve transport and connectivity and reduce inefficienciesThese measures along with reforms such as GST implementation and rationalisation are central to ongoing efforts to reduce logistics costs enhance ease of doing business and boost competitivenessUntil now logistics costs in India were often misrepresented with commonly cited figures of 1314 per cent of GDP derived from external studies or partial datasetsThis led to inconsistent estimates causing confusion among policymakers and global stakeholders As per the current assessment prepared by NCAER for DPIIT logistics costs in India are estimated at about 797 per cent of total GDPThe report provides a comprehensive framework by capturing logistics costs across different transport modes product categories and firm sizesIt also presents estimates of freight cost per tonnekilometre and highlights the role of multimodality in enhancing efficiency By providing evidencebased guidance the study strengthens Indias efforts to improve competitiveness and supports the broader vision of positioning the country as a global logistics hub IANS https://dailyworld.in/business/centre-unveils-comprehensive-logistics-cost-assessment-to-boost-global-competitiveness-639691.html Sat, 20 Sep 2025 21:46:00 +0530 https://dailyworld.in/business/new-gst-will-simplify-business-and-boost-consumption-itcs-sanjiv-puri-639489.html Kolkata Sep 19 ITC Limited Chairman and Managing Director Sanjiv Puri on Friday welcomed the new Goods and Services Tax GST reform calling it a positive step that will simplify business processes and boost consumption Speaking to IANS on the sidelines of the 124th Annual General Meeting of the Merchants Chamber of Commerce and Industry MCCI here Puri said The new GST is a very good step It will simplify the entire business process make ease of doing business better and benefit small enterprises as wellWith lower rates consumption will go up and this will in turn create more employment opportunities he addedThe meeting was also attended by Bengal Chief Ministers Principal Chief Advisor Dr Amit Mitra along with other dignitariesAt the MCCI event Puri also spoke about the need for Indian businesses to reimagine their models with greater focus on innovation sustainability and resilienceEnterprises have a social role to play We need business models that put people and the planet at the centre he said highlighting trends such as digitisation circularity and supply chain resilienceThe latest GST reforms which will come into effect from September 22 have been designed to reduce rates on several items and make the overall structure simplerAccording to a Crisil report these reforms are unlikely to put major pressure on government financesWhile the government expects a shortterm revenue loss of about Rs 48000 crore annually analysts say the impact will not be significant given last years total GST collections of Rs 106 lakh croreExperts believe that the reduction in rates combined with steady growth in demand for services and new items brought under GST will help maintain revenue stabilityAt the same time lower tax rates on mass consumption items are expected to improve purchasing power giving a broader push to the economy IANS https://dailyworld.in/business/new-gst-will-simplify-business-and-boost-consumption-itcs-sanjiv-puri-639489.html Fri, 19 Sep 2025 20:11:00 +0530