DailyWorld News - The First International Newspaper From India https://dailyworld.in/ Wed, 10 Dec 2025 02:49:24 +0530 en https://dailyworld.in/business/drone-show-at-telangana-global-summit-sets-guinness-world-record-652421.html Hyderabad Dec 9 Telangana Rising Global Summit made history as 3000 drones formed the worldâs longest airborne sentence The new Guinness World Record was created at the concluding session of the twoday event at the upcoming Bharat Future City on Tuesday nightThe drones formed what is claimed to be the worldâs longest airborne sentence âTelangana is Rising Come Join the RiseâA breathtaking spectacle lit up the sky and showcased the stateâs Vision 2047The drone show was held soon after Chief Minister A Revanth Reddy unveiled the document at the glittering eventEarlier a robot was the centre of attraction as it handed over the Vision 2047 document to the Chief MinisterThe document was released in the presence of former RBI Governor Duvvuri Subba Rao former Chief Economic Advisor to the Government of India Arvind Subramaniam Vice Chairman of NITI Aayog Suman Bery Mahindra Group Chairman Anand Mahindra Telugu superstar K Chiranjeevi and othersFormer British Prime Minister Tony Blair virtually addressed the event âThe growth of Telangana from its formation in 2014 to a landmark day like today is itself a powerful promise to the future From its early struggles the State has reimagined itself as a powerhouse of technology agriculture and inclusive growth In many ways Telangana has become a model for other parts of the worldâ he saidFormer RBI Governor Raghuram Rajan who joined via conferencing noted that the vision document places strong emphasis on new technologies that will make governance more transparent inclusive and effectiveâImplementation continuous feedback and timely course correction form the next steps in operationalising this vision I look forward to being part of this transformative journeyâ he saidArvind Subramaniam stated that Telangana is not just on the map of India it is on the global map as a cradle of the countryâs IT revolution âThe Vision Document charts the next structural transformation moving from a dynamic ITdriven economy to a peoplecentric technological ecosystem This marks a significant evolution in the Stateâs development trajectoryâ he saidTelangana is rising as Indiaâs No1 growth state Hyderabad standing strong as the hub for Pharma Bio amp Services With exceptional progress skilled youth and a Viksit Telangana vision the state is truly unstoppable unbeatable said Subba RaoSuman Bery observed that Telangana has already reached the status of an uppermiddleincome economy as per World Bank classifications an aspiration India aims to achieve in the next five yearsâIn this context Telanganaâs ambition to position itself globally is both timely and appropriate NITI Aayog has been privileged to support the State in articulating this Vision and we stand ready to work with Telangana in every step of its development journeyâ he said IANS https://dailyworld.in/business/drone-show-at-telangana-global-summit-sets-guinness-world-record-652421.html Wed, 10 Dec 2025 00:06:00 +0530 https://dailyworld.in/business/indigo-refunds-rs-827-crore-to-passengers-returns-4-500-bags-amid-stern-govt-warning-652033.html New Delhi Dec 8 Facing intense government scrutiny lowcost airline IndiGo on Monday said it has so far refunded Rs 827 crore to affected passengers and the rest is under process for cancellations up to December 15 IndiGo said it was set to operate over 1800 flights on Monday up from 1650 on Sunday adding that more than 4500 bags have been delivered to respective customers and we are on track to deliver the rest in the next 36 hoursToday we are all set to operate over 1800 flights connecting all stations that we operate to We have optimised our operations and managed to reduce the number of cancellations which are being notified to customers in advance and our ontime performance OTP has also improved to 91 per cent across the network said the airlineThe statement came as the government said it will take strict action against lowcost airline over the massive disruption of flights to set an example for all airlinesEarlier Union Civil Aviation Minister K Ram Mohan Naidu said in the Parliament on Monday that the government has initiated a thorough inquiry into the matterIndiGo was supposed to manage the crew and roster Passengers faced a lot of difficulties We are not taking the situation lightly We will take strict action We will set an example for every airline If there is any noncompliance we will take action he said on the floor of the Rajya SabhaAccording to the airline all cancellations in Mondays schedule were executed on Sunday ensuring advance notifications being sent to customersWhile IndiGo is progressing further on the path to full recovery we remain committed to assisting our customers and addressing their queries and requests on a war footing To this end we have expedited several internal processes it addedThe airline said it is assisting over 2 lakh customers every day across various communications channelsWe regret this disruption and apologise sincerely to all our customers We would like to reiterate that all our operations are fully compliant with the relevant FDTL norms and safety regulations as they have been throughout the last two decadesâ IndiGo added IANS https://dailyworld.in/business/indigo-refunds-rs-827-crore-to-passengers-returns-4-500-bags-amid-stern-govt-warning-652033.html Tue, 09 Dec 2025 00:15:00 +0530 https://dailyworld.in/business/rbis-guidelines-for-bank-groups-balance-structural-strengthening-with-business-flexibility-652290.html New Delhi Dec 9 The Reserve Bank of Indias guidelines on commercial banks financial services businesses permitting overlapping lending activities within bank groups averted the need for major restructuring by 12 bank groups a report said on Tuesday The final guidelines aim to eliminate any regulatory arbitrage by aligning regulations across bank group entities thus contributing to structural strengthening while providing flexibility in business conduct the report from Crisil Ratings saidTogether these banks accounted for about 55 per cent of sectoral advancesEarlier draft guidelines released in October 2024 had proposed that only one bank group entity could carry out a specific form of business with no overlap in lending activities between the bank and its group entitiesThe central bank retained several draft proposals including the applicability of upperâlayer scaleâbased regulations for nonâbanking financial companies NBFCs regulatory restrictions on loans and advances and a 20 per cent ceiling on a bank groupâs holding in an asset reconstruction company ARCIf the draft guidelines had been implemented in toto 12 bank groups accounting for 55 per cent of sectoral advances would have needed restructuring of their lending businesses This would have impacted 26 per cent of consolidated advances of these individual banks Crisil Ratings Director Subha Sri Narayanan saidHowever with the final guidelines permitting bank group entities to maintain overlapping lending businesses subject to Board approval there will be no disruption to their operations More significantly banks and their group entities can continue to leverage their respective strengths and serve distinct customer segments in a costeffective mannerâ she addedCrisil Ratings Associate Director Vani Ojasvi said that there are currently 13 ARCs in which one or more banks hold stakes of over 20 per cent Wherever the shareholding exceeds this prescribed limit banks will have to partially divest by March 2028The guidelines have also applied restrictions on specific loan segments for bank group entities akin to those for banks to align risks across entities and curb regulatory arbitrage IANS https://dailyworld.in/business/rbis-guidelines-for-bank-groups-balance-structural-strengthening-with-business-flexibility-652290.html Tue, 09 Dec 2025 15:52:00 +0530 https://dailyworld.in/business/bengaluru-ranks-16th-in-global-tech-cities-index-652036.html New Delhi Dec 8 The city of Bengaluru in Karnataka has risen to 16th position in an assessment of leading global technology hubs becoming the first Indian city to feature in the top 30 and signalling growing global interest in Asian markets a report said on Monday While San Francisco and New York retain their positions as the worldâs top two tech cities Bengaluruâs presence as Indiaâs premier technology centre gains momentum amid rising global interest in Asian markets said real estate advisory firm Savills India in the reportBengaluru known as Indiaâs Silicon Valley continues to develop its deep talent pool and robust tech ecosystems positioning itself as a key player to watch it addedâCities that offer a rich mix of business opportunities cultural life and skilled workforces dominate as tech innovation centres Bengaluru with its broad talent base and evolving infrastructure has the potential to strengthen its position in the global tech hierarchy as companies seek vibrant hubs beyond the traditional Western citiesâ said Arvind Nandan Managing Director Research amp Consulting Savills IndiaFurther Asia Pacificâs leading cities such as Singapore and Seoul have advanced in the index propelled by strong infrastructure businessfriendly policies and expanding tech sectors like AI semiconductors and biotechFor real estate investors developers and corporate occupiers in Bengaluru the ongoing transformation driven by AI and other technological advances signals a sustained increase in demand for premium office space and residential options tailored for a mobile techsavvy workforce the report notedBengaluruâs dynamic cultural scene growing office space demand and vibrant lifestyle appeal contribute to its attractiveness for global tech firms expanding or investing in India it saidThe biennial index evaluates 100 cities worldwide across business environment talent availability technological strengths and quality of life IANS https://dailyworld.in/business/bengaluru-ranks-16th-in-global-tech-cities-index-652036.html Tue, 09 Dec 2025 00:16:00 +0530 https://dailyworld.in/business/telangana-first-state-to-adopt-three-zone-model-for-economic-transformation-cm-reddy-652039.html Hyderabad Dec 8 Telangana will become the first state in India to adopt a threezone model for economic transformation Chief Minister A Revanth Reddy said on Monday Addressing the inaugural session of Telangana Rising Global Summit at the upcoming Bharat Future City he outlined the stateâs development strategy with the goal to become a 1 trillion economy by 2034 and a 3 trillion economy by 2047He announced that Telangana will become Indiaâs first state to adopt a threezone model for economic transformation CURE Core Urban Region Economy for services PURE PeriUrban Region Economy for manufacturing and RARE Rural and Agri Region Economy for agriled developmentThe Chief Minister welcomed leaders and representatives from business corporate sectors public policy diplomacy government and academia for the twoday eventHighlighting Telanganaâs strong fundamentals he noted that the state despite having only about 29 per cent of Indiaâs population contributes nearly 5 per cent of the national GDPHe reaffirmed his aspiration that Telangana should contribute 10 per cent of Indiaâs GDP by 2047The Chief Minister cited Guangdong province in China as a case study of unprecedented growth noting that in just over two decades it became Chinaâs top economic powerhouse Telangana he said is ready to adopt global best practices and benchmark itself against the worldâs most successful regionsHe stated that the state has drawn inspiration from China Japan Germany South Korea and Singapore and is preparing to compete with them while also inviting these nations to collaborate invest and support Telanganaâs riseThe Chief Minister said that the roadmap for Telanganaâs future must be rooted in the spirit of consultation and collective wisdom which guided the drafting of the Constitution of IndiaReflecting on the long struggle for a separate Telangana state he stated that the dream became reality in 2014 under the leadership of Sonia Gandhi and then Prime Minister Dr Manmohan SinghâTelangana emerged as Indiaâs youngest state and today the goal is to make it Indiaâs most developed state and among the finest globally Following the Indian model of constitutionmaking the Telangana government has engaged in wideranging consultations to design the future of the state Experts were asked to envision what Telangana could achieve by 2047 when India completes 100 years of Independence This vision laid the foundation for Telangana Rising 2047â he saidThe Chief Minister said citizens were consulted to understand their expectations and aspirations The ambitious roadmap has been prepared with inputs from administrative officers experts from the Central Government the Indian School of Business and NITI AayogHe said the government would keenly listen over the next two days to ideas insights and feedback from all participantsAcknowledging the scale of the vision the Chief Minister affirmed that nothing is beyond reach with collective resolveâIf it is difficult let us do it immediately If you think it is impossible I will give you more time as a deadlineâ he remarkedâYesterday was a dream and a plan Today with all of you joining us I see partners and stakeholders in this journey With your support we can achieve all our goals Telangana Rising is unstoppable Come join the riseâ said the Chief Minister IANS https://dailyworld.in/business/telangana-first-state-to-adopt-three-zone-model-for-economic-transformation-cm-reddy-652039.html Tue, 09 Dec 2025 00:18:00 +0530 https://dailyworld.in/business/pli-auto-scheme-rs-1-35083-crore-worth-of-incentives-disbursed-to-5-applicants-652296.html New Delhi Dec 9 Under the productionlinked incentive PLI Auto scheme the incentive of Rs 135083 crore has been disbursed to five applicants as on November 11 the Parliament was informed on Tuesday The scheme was launched with a budgetary outlay of Rs 25938 croreThe eligible sales target till March 2028 over base year FY 201920 is Rs 231500 crore and sales of Rs 32879 crore have been achieved till 30092025 Minister of State for Heavy Industries Bhupathiraju Srinivasa Varma told the Rajya Sabha in response to a questionThe PLI Auto Scheme proposes financial incentives to boost domestic manufacturing of Advanced Automotive Technology AAT products and attract investments in the automotive manufacturing value chainAs EV adoption has been increased the Domestic Value Addition DVA requirement and localisation of the EV value chain are expanding across the AAT productsThe scheme proposes financial incentives to boost domestic manufacturing of AAT products with a minimum 50 per cent DVA and attract investments in the automotive manufacturing value chainThe government on May 12 2021 approved PLIACC in order to promote the manufacturing of ACC in the country with a budgetary outlay of Rs 18100 crore The scheme envisages establishing a cumulative ACC battery manufacturing capacity of 50 GWhThe PM EDRIVE scheme was notified on September 29 2024 The scheme has an outlay of Rs 10900 crore over a period of four years and aims to incentivise the sale of e2W e3W eAmbulances eTrucks and ebusesThe scheme also supports the development of charging infrastructure and the upgradation of vehicle testing agencies Under the PM EDRIVE Scheme the Phased Manufacturing Programme PMP mandates domestic manufacturing of specified EV components said the ministerThe PLI scheme has attracted Rs 176 lakh crore in committed investments since 2020 and created over 12 lakh jobs The scheme has approved 806 applications across 14 strategic sectors primarily with the goal of boosting manufacturing in line with the Atmanirbhar Bharat initiative IANS https://dailyworld.in/business/pli-auto-scheme-rs-1-35083-crore-worth-of-incentives-disbursed-to-5-applicants-652296.html Tue, 09 Dec 2025 16:13:00 +0530 https://dailyworld.in/business/sensex-nifty-end-lower-amid-profit-booking-652299.html Mumbai Dec 9 Indian stock markets ended lower on Tuesday as investors booked profits after the recent rally leading to a broad dip across major indices Sentiment weakened further after reports suggested that US President Donald Trump may consider imposing new tariffs on Indian rice raising fresh concerns about unresolved trade negotiations between India and the United StatesAt the closing bell the Sensex closed at 8466628 falling 43641 points or 051 per centThe Nifty also slipped and settled at 2583965 down 12090 points or 047 per centSeveral heavyweight stocks dragged the market with Asian Paints Tech Mahindra HCL Tech Tata Steel Maruti Suzuki Sun Pharma TCS ICICI Bank and Bajaj Finance emerging as the biggest losersThese counters declined up to 46 per cent during the session However a few stocks such as Eternal Titan Adani Ports BEL and SBI managed to stay in the green and provided some support to the benchmarksThe broader markets showed a stronger performance as the Nifty MidCap index gained 032 per cent and the Nifty SmallCap index rose 114 per cent indicating continued buying interest in mid and smallcap stocksMost sectoral indices including Nifty IT Auto and Pharma were under pressure and fell nearly 1 per centOther pockets such as PSU Bank FMCG Media Consumer Durables and Chemicals also traded in the red through the dayAnalysts said that the market remained weighed down by global trade worries and consistent profit booking as investors turned cautious ahead of further developments on the USIndia tariff issueâIn the near term central bank commentary currency movement and FII flows will steer sentiment while domestic macro resilience is expected to provide a cushion against downside risks market watchers saidâWhile the markets largely anticipate a 25bps rate cut by the Fed and a rate hike by the BoJ forward guidance for 2026 will be criticalâ they addedMeanwhile the rupee rose 23 paise to 8982 as short covering emerged after a mild recovery in equities IANS https://dailyworld.in/business/sensex-nifty-end-lower-amid-profit-booking-652299.html Tue, 09 Dec 2025 16:20:00 +0530 https://dailyworld.in/business/new-labour-codes-strengthen-rights-of-contract-workers-652046.html New Delhi Dec 8 Indiaâs labour landscape has undergone a historic transformation with the consolidation of 29 labour laws into four simplified and modern Labour codes helping contract workers who often engage in essential yet vulnerable roles across industries the Union Government said on Monday The four newly introduced codesthe Code on Wages 2019 the Industrial Relations Code 2020 the Occupational Safety Health and Working Conditions OSH Code 2020 and the Code on Social Security 2020 aim to create a more inclusive and equitable labour environment where contract workers receive stronger rights improved working conditions and enhanced socioeconomic securityAs per the new laws no employer shall pay any employee less than the minimum wage notified by the Government Previously minimum wages applied only to scheduled employees but now they cover all employeesThe Government shall review or revise minimum rates of wages ordinarily at intervals not exceeding five years Also the Government shall fix a minimum rate of wages for time work piece work for different wageperiodsd like by hours day or by month based on the skill of the employee and the arduousness of workAdditionally the Floor wage will be fixed by the Government considering the minimum living standards of an employee including food clothing etcIn case of overtime the employer will have to pay at least twice the normal wage rate for any work beyond normal working hours Moreover as per the codes employers have to issue wage slips electronically or in physical form to the employee on or before payment of wagesThe period of limitation for filing of claims by an employee has been enhanced to three years as against the existing time varying from six months to two yearsThe laws also ensure that the employer has to pay or cause to be paid wages to all employees based on the type of employment meaning that in the case of a daily wage the amount should be paid by the end of the shift Similarly in the case of a weekly payment the employer needs to pay wages before a weekly holiday For a fortnightly cycle the payment should be made within two days of the end of the fortnight and for a monthly pay cycle irrespective of strength the payment should be made within 7 days of the next monthAdditionally if an employer terminates an employee they need to clear the dues within two working days IANS https://dailyworld.in/business/new-labour-codes-strengthen-rights-of-contract-workers-652046.html Tue, 09 Dec 2025 00:21:00 +0530 https://dailyworld.in/business/almost-146-lakh-msme-accounts-saved-from-slipping-into-npa-centre-652047.html New Delhi Dec 8 At least 146 lakh Micro Small and Medium Enterprises MSME accounts of which about 983 per cent of the accounts were in the Micro and Small Enterprises categories were saved from slipping into nonperforming asset NPA classification with the help of the emergency credit line guarantee scheme ECLGS the Parliament was informed on Monday A series of measures have been undertaken by the Union government to provide adequate financial support and technology and trade support to various MSMEs including the leather and textile sector Minister of State for MSMEs Shobha Karandlaje told the Rajya Sabha in a written reply to a question These include schemes such as the Prime Ministers employment generation programme for setting up new micro enterprises in the nonfarm sector by providing margin money subsidy on the bank loan and a special creditlinked capital subsidy scheme with a provision of 25 per cent subsidy to SCST MSEs on institutional finance for procurement of plant and machinery or equipment she added Credit guarantee scheme for collateralfree loans for micro and small enterprises with a guarantee coverage of up to Rs 10 crore collateralfree loans up to Rs 20 lakh for informal micro enterprises PM Vishwakarma Yojana and Mudra Loan are the other among the schemes that have been introduced by the Union government Karandlaje saidAdditionally the Centre has taken a number of steps to address the issues and challenges pertaining to the MSME sector in the countrySome of these steps are new revised criteria for defining MSMEs adopted in 2020 which have been further revised in April this year Udyam Registration for MSMEs for ease of doing business which is operational from July 2020 and the inclusion of retail and wholesale traders as MSMEsMoreover nontax benefits are extended for 3 years in case of an upward change in the status of MSMEs and the Udyam Assist platform was launched in January 2023 to bring Informal micro enterprises under the formal ambit for availing the benefit under priority sector lendingOperationalisation of the selfreliant India Fund for equity infusion into MSMEs and the launch of Rs 5 lakh crore emergency credit line guarantee scheme ECLGS for businesses including MSMEs operational till March 2023 were other steps the minister said IANS https://dailyworld.in/business/almost-146-lakh-msme-accounts-saved-from-slipping-into-npa-centre-652047.html Tue, 09 Dec 2025 00:22:00 +0530 https://dailyworld.in/business/new-labour-codes-give-gig-platform-workers-portable-social-security-benefits-652305.html New Delhi Dec 9 Gig and platform workers in India will receive formal legal recognition portable socialâsecurity benefits and a national registration framework through eShram under provisions of the Code on Social Security 2020 of the new labour codes the government said on Tuesday Under the Social Security code aggregators are now required to contribute 1â2 per cent of annual turnover capped at 5 per cent of payments made or payable to gig and platform workers to a Social Security Fund an official statement saidThe fund finances a range of welfare schemes for these workers who erstwhile bore all risks themselves with no obligation on aggregators to contribute to their welfareThe enhanced provisions equip gig and platform workers with essential safeguards empower them with portable rights and transform informal work into a secure recognised and sustainable livelihood the statement saidGig amp Platform workers now become eligible for governmentnotified social security benefits such as accident insurance health and maternity benefits any other benefitsWorkers will register on the eâShram portal and receive a unique Aadhaarâlinked ID to enable portability of benefits when switching jobs or platforms and ensure continuity of coverage across multiple platforms the statement addedGig and platform workers can selfregister on the Government eShram portal creating a comprehensive national database that supports social security skill development targeted delivery of welfare delivery and policy making it saidThe new labour codes provide a formal recognition bringing them under the ambit of social security and legal protection by defining key terms such as âaggregatorâ âgig workerâ âplatform workerâ and âplatform workâFurther workers used to have zero access to formal labour laws and consequently unable to access structured grievance redressal mechanisms Under the new codes the government may setup a tollfree helpline call centre or facilitation centre to address worker grievances and ensure timely support the statement noted IANS https://dailyworld.in/business/new-labour-codes-give-gig-platform-workers-portable-social-security-benefits-652305.html Tue, 09 Dec 2025 16:28:00 +0530 https://dailyworld.in/business/cbi-books-reliance-commercial-finance-its-promoters-in-rs-5747-crore-bank-fraud-case-652309.html Mumbai Dec 9 The Central Bureau of Investigation CBI on Tuesday said it has filed a criminal case against Reliance Commercial Finance Ltd RCFL and its promoters and directors over allegedly causing wrongful loss of Rs 5747 crore to Bank of Maharashtra The case has been registered against RCFL a company of Reliance ADA Group its promotersdirectors and unknown bank officials on the allegations of criminal conspiracy cheating and criminal misconduct and thereby the CBI said in a statementAccording to the statement the loan account of Reliance Commercial Finance Ltd was declared an NPA by the bank on March 25 2020 and also as fraud on October 4 2025 for causing wrongful loss of Rs 5747 crore to Bank of MaharashtraRCFL was availing loans to the tune of Rs 9280 crore from 31 banks FIsNBFCsCorporate Bodies etc including Bank of Maharashtra A thorough investigation will be conducted into the allegations of defrauding all the banksFIs etc by the accused company said the CBIThe probe agency obtained search warrants from the court of a Special CBI judge Mumbai and commenced searches at the official premises of RCFL at Mumbai and the residential premises of Devang Pravin Mody Director of the company at Pune on December 9Several incriminating documents have been observed and are being taken into possession during searches Searches are in progress the CBI saidMeanwhile the Enforcement Directorate ED has filed a supplementary charge sheet against Reliance Power Ltd and 10 others in the case of fake bank guarantees of Rs 68 crore submitted by Reliance Power Limited to the Solar Energy Corporation of India SECI for the purpose of securing a tender issued by it ED attached the proceeds of crime worth Rs 515 crore as wellReliance Power Ltd said in a statement that ED allegations have not yet passed through judicial scrutiny and the Company has not been held guilty of any wrongdoingAs per law settled by the Supreme Court the company will get an opportunity to put across its case and facts before the court even before cognisance so filing of this complaint does not affect the affairs of the company in any manner said the company in an exchange filing IANS https://dailyworld.in/business/cbi-books-reliance-commercial-finance-its-promoters-in-rs-5747-crore-bank-fraud-case-652309.html Tue, 09 Dec 2025 16:29:00 +0530 https://dailyworld.in/business/indigo-disruptions-may-cause-revenue-loss-penalties-to-company-report-652061.html New Delhi Dec 8 Widespread flight disruptions at IndiGo are credit negative and refunds and compensation could cause it significant financial damage credit rating agency Moodyâs warned on Monday In a note Moodys said that regulatory penalties from the Directorate General of Civil Aviation DGCA remain possible as the airline failed to plan for aviation rules communicated over a year earlierThe crisis struck as the airlines entered their peak winter schedule with significant lapses in planning oversight and resource management as the Phase 2 of the Flight Duty Time Limitation FDTL rules were introduced on November 1 2025 after being communicated more than a year earlier it notedThe rules reclassified midnightâ6 am duties as night duty and cut permissible landings in 24 hours from six to two or three The agency said that IndiGoâs lean operating model lacked resilience to integrate the change forcing a systemâwide schedule resetOver 1600 flights were cancelled on December 5 and over 1200 were grounded in November with cancellations beginning on December 2 Moodyâs said IndiGo is yet to fully restore normal operationsIndiGo said it was set to operate over 1800 flights on Monday up from 1650 on Sunday adding that more than 4500 bags have been delivered to respective customers and we are on track to deliver the rest in the next 36 hoursThe airline said it expects a return to full schedules by midDecember adding that it is working round the clock to normalise operationsIt has so far refunded Rs 827 crore to affected passengers and the rest is under process for cancellations up to December 15Union Civil Aviation Minister K Rammohan Naidu said in the Parliament on Monday that the government has initiated a thorough inquiry into the matterIndiGo was supposed to manage the crew and rosterâWe will take strict action We will set an example for every airline If there is any noncompliance we will take action he said on the floor of the Rajya Sabha IANS https://dailyworld.in/business/indigo-disruptions-may-cause-revenue-loss-penalties-to-company-report-652061.html Tue, 09 Dec 2025 00:29:00 +0530 https://dailyworld.in/business/indias-digital-economy-is-expanding-twice-at-pace-of-overall-economy-meity-secretary-652067.html Kohima Dec 8 Indiaâs digital economy which accounted for about 67 per cent of the countryâs GDP before 2010 and had doubled by 2014 is now expanding at twice the pace of the overall economy Union Ministry of Electronics and Information Technology MeitY Secretary S Krishnan said on Monday citing a ministry study Addressing the Nagaland Digital Entrepreneurship and Startup Fest Krishnan highlighted the abundant talent among Naga youth particularly their creativity and English proficiency and emphasised the role of institutions like the National Institute of Electronics amp Information Technology NIELIT in nurturing this potentialOut of 55 NIELIT centres in India he said 20 are located in the Northeast regionThe Nagaland Digital Entrepreneurship and Startup Fest was jointly organised by the NIELIT Kohima and the Department of Information Technology and CommunicationSharing impressions from his first visit to Nagaland Krishnan spoke about witnessing the Hornbill Festival visiting the World WarII Museum at Kisama and paying homage at the Kohima War CemeteryHe reflected on Kohimaâs historic significance and the potential Nagaland holds todayKrishnan noted that the digital economy is expanding at twice the pace of the overall economySpeaking on cyber security he stressed that India cannot depend on foreign technologies in this critical area He described the Cyber Security Lab at NIELIT Kohima as stateoftheart and among the best in the country contributing significantly to cyber policingHe also appreciated the strong impression made by NIELIT Kohima and NIELIT Mokokchung at a recent Artificial Intelligence AI event in New DelhiUnderlining the importance of entrepreneurship Krishnan said startups play a vital role in job creation He expressed hope that more startups and collaborations would emerge from the regionThe official also highlighted the importance of Software Technology Parks of India STPI in mobilising private equity and appreciated the functioning of STPI KohimaHe suggested exploring the possibility of setting up a Software Park due to space constraints at STPI Kohima He urged the state to capitalise on its servicesector potentialAn interactive session with S Krishnan followed during which participants raised various queries During the programme Krishnan launched the Digital Learning and Simulation Hub the Digital Delivery of Statutory Services initiative and the Pulse App an AIpowered news platformThe Conference Report of NCCDFI 2025 was also released The programme featured a presentation of the Nagaland Digital Startup Awards 2025 where Krishnan gave away the prizes to the winnersNagaland governmentâs Commissioner and Secretary PampAR and Power Mohammed Ali Shihab noted that as the state advances through a developmental phase with increasing engagement from development agencies institutions like NIELIT hold an important roleThe event concluded with a panel discussion on Nagalandâs Digital Opportunity From Labs to Scalable Startups IANS https://dailyworld.in/business/indias-digital-economy-is-expanding-twice-at-pace-of-overall-economy-meity-secretary-652067.html Tue, 09 Dec 2025 00:31:00 +0530 https://dailyworld.in/business/s-korea-confirms-8th-highly-contagious-bird-flu-case-of-season-652330.html Seoul Dec 9 South Korea on Tuesday reported another highly pathogenic avian influenza infection at a duck farm in South Jeolla Province marking the eighth such case at a poultry farm this season The latest case was detected in Yeongam 380 kilometers south of Seoul and marks the first from a duck farm this season according to agricultural authorities reports Yonhap news agencyAuthorities issued a 24hour standstill order on all duck farms and related facilities and vehicles nationwideThe government added it plans to conduct intensive inspections at all duck farms in the regionIt also advised farmers to avoid visiting migratory bird habitats and follow basic prevention procedures including changing shoes before entering barnsMeanwhile last month Yonhap news agency reported that South Korea will bolster quarantine efforts to prevent further spread of avian influenza AI during the cold seasonThe Central Disaster Management Headquarters CDMH said six cases of highly contagious AI have been confirmed at poultry farms and 10 AI cases among wild birds since the cold season started The first case was detected at a poultry farm in Paju about 40 kilometers northwest of Seoul in SeptemberIn November alone four cases of highly pathogenic AI were detected at poultry farms and seven such cases were reported from wild birdsThe CDMH said it has conducted a detailed examination of soil and wild bird feather samples collected from migratory bird habitats rivers and areas near affected farms and the findings indicate substantial contamination across such placesAccording to a survey on winter migratory birds conducted by the environment ministry 133 million birds migrated into the country in November marking a 1114 percent increase from the previous monthIn light of the situation authorities plan to strengthen quarantine measures across poultry farms across the country by deploying all available disinfection vehicles to carry out intensive disinfection operations and conducting special inspections in highrisk cities and counties where poultry density is high and past outbreaks have occurred IANS https://dailyworld.in/business/s-korea-confirms-8th-highly-contagious-bird-flu-case-of-season-652330.html Tue, 09 Dec 2025 17:00:00 +0530 https://dailyworld.in/business/audit-follow-up-delhi-assembly-speaker-reviews-action-taken-on-cag-reports-652075.html New Delhi Dec 8 Delhi Assembly Speaker Vijender Gupta said on Monday that incomplete or informal replies in response to audit comments were posing challenges in audit followup and preventing the Public Accounts Committee PAC from carrying out its work efficiently He was speaking at a meeting held with senior officials to assess the status of action taken on reports of the Comptroller and Auditor General of India ahead of the Assemblyâs Winter Session likely to begin in the third week of this monthThe Speaker observed that the adoption of the Audit Para Monitoring System APMS in the Delhi Assembly marks a significant step towards transparency procedural discipline and a more accountable audit followup mechanismâThe APMS is now fully operational within the Government of the National Capital Territory of Delhi and Delhi is arguably the first State Assembly in the country to implement such a comprehensive realtime audit monitoring portalâ said GuptaDuring the meeting the challenges in audit followup were discussed extensively It was noted that many replies uploaded by departments were not in the prescribed form and therefore could not be placed before the PAC said a statementGupta expressed concern while examining the status on the portal which showed that 142 audit paragraphs had been uploaded by various departments while only 30 Action Taken Notes had been submittedHe noted that such pendency is unsatisfactory and stressed that timely and complete responses are essential for enabling the Public Accounts Committee to discharge its mandate effectivelyThe Speaker stressed that incomplete or informal replies cannot be considered valid Action Taken Notes and must be returned for correctionThe remedial measures required to strengthen the audit response were also reviewed The Speaker directed that all departments must submit corrected and properly formatted Action Taken Notes within three weeksGupta instructed the Assembly Secretariat to circulate uniform guidelines specifying the required format signing authority and the way replies must address individual audit commentsThe Speaker directed that a comprehensive demonstration of APMS be organised so that the system is well understood at all levels and so that officers accessing the portal are thoroughly familiar with its features thereby expediting their processesHe noted that proper training strict adherence to the prescribed format and timely response to audit comments are essential for enabling the Public Accounts Committee to carry out its work efficientlyThe meeting was attended by Ajay Mahawar Chairman of the Committee on Public Accounts Gajender Drall Chairperson of the Committee on Government Undertakings Aman Deep Chatha Accountant General Audit Government of India Shurbir Singh Secretary Finance Government of NCT of Delhi senior officers of the Finance Department and officers of the Directorate of AuditA detailed presentation was given at the meeting on the functioning of APMS illustrating how the portal records each stage of an audit paragraph captures comments issued by the audit office tracks departmental replies reflects delays and provides complete realtime visibility of pendency and complianceThe APMS is a digital platform developed by the Ministry of Finance Expenditure Department and conceptualised by the Controller General of Accounts based on the Public Accounts Committees guidelinesThe system enables endtoend monitoring of audit paragraphs Action Taken Notes and Action Taken Replies It displays the original audit observation the deficiencies identified by the audit the comments recorded at each stage the responses uploaded by departments the acceptance or return of replies and the statutory timelines for finalisation IANS https://dailyworld.in/business/audit-follow-up-delhi-assembly-speaker-reviews-action-taken-on-cag-reports-652075.html Tue, 09 Dec 2025 00:34:00 +0530 https://dailyworld.in/business/indigo-is-back-on-its-feet-says-ceo-pieter-elbers-652335.html New Delhi Dec 9 IndiGo CEO Pieter Elbers said on Tuesday that the airlineâs operations have stabilised after days of widespread flight disruptions that left passengers stranded at major airports nationwide as the lowcost carriers planes were grounded due to an acute shortage of pilots under the new flight duty limitation norms Elbers claimed in a statement on X that âIndiGo is back on its feetâ with efforts to restore the network progressing on a âwar footingâHe said the airline is now flying more than 1800 flights a day restoring its full network of 138 destinations âAs of December 9 our operations are fully stabilisedâ the CEO remarkedElbers further stated that IndiGo has âstarted to focus internally on what led to the issueâ indicating a deeper review of processes and resource planningThe Directorate General of Civil Aviation DGCA has ordered IndiGo to reduce its daily flight schedule by 5 per cent It also directed the airline to share its revised schedule by 5 pm on December 10âIndiGo has not demonstrated the ability to operate its schedules efficientlyâ the DGCA order said It added that 64346 flights were approved for IndiGo in November but the airline flew only 59438 flights cancelling 951 flightsMeanwhile Civil Aviation Minister Rammohan Naidu informed the Lok Sabha on Tuesday that the operations of lowcost carrier IndiGo are stabilising and all other airlines continue to operate smoothly across the countrySpeaking on the floor of the Lower House the minister said âAirports across the country are reporting normal conditions with no crowding or distressâHe further stated that DGCA has issued showcause notices to IndiGos senior leadership and commenced a detailed enforcement investigation Based on the report strict and appropriate action will be takenâNo airline however large will be permitted to cause such hardship to passengers through planning failures noncompliance the minister assured the HouseNaidu also made it clear that the revised pilot and crew rostering rules were nonnegotiableâRefunds for flights cancelled between December 5 to 15 baggage tracing and passenger support measures remain under the supervision of the Ministry of Civil Aviationâ the minister addedHe explained that as part of the measures to tackle the crisis âIndiGo was ordered to issue refunds promptly and as informed by them more than â¹750 crore has already reached the passengersâ Naidu said in the lower houseThe minister further stated that IndiGo assured full compliance with the flight duty norms and confirmed its preparedness for the winter schedule underlining that safety in civil aviation is completely nonnegotiable IANS https://dailyworld.in/business/indigo-is-back-on-its-feet-says-ceo-pieter-elbers-652335.html Tue, 09 Dec 2025 17:09:00 +0530 https://dailyworld.in/business/minister-reiterates-resolve-to-ensure-timely-promotions-of-govt-employees-652336.html New Delhi Dec 9 The government on Tuesday reiterated its resolve to ensure timely promotions of employees as far as possible in order to keep them motivated to work and perform Union Minister Dr Jitendra Singh pointed out that in order to clear the stagnation of several decades piled up by the earlier UPA government the Department of Personnel and Training DoPT under Prime Minister Narendra Modi had undertaken an exercise of mass promotions and also cleared the backlog promotions for reserved vacanciesHe met a delegation from the Central Secretariat Services CSS Group C Employeesâ Association who submitted a detailed representation highlighting issues related to service matters including promotions and cadre restructuringDuring the interaction Dr Singh pointed out that largescale promotions were undertaken across the three services â Central Secretariat Service CSS Central Secretariat Stenographersâ Service CSSS and Central Secretariat Clerical Service CSCSHe recalled that more than 8000 promotions were affected on June 30 2022 alone and over 16200 promotion orders have been issued between 2022 and 2024 across various gradesThe members requested for promotions among MultiTasking Staff MTS and employees of the Central Secretariat Clerical Service CSCS just as the ministerâs personal intervention had earlier assured streamlining of promotions in the senior cadresThe association also requested for early publication and implementation of the first CSCS Cadre Review and sought structural reforms to ensure a predictable career pathThese demands were formally placed before the Minister during the meeting Dr Singh heard the delegation and directed the concerned officials to examine the matters on priority and take expeditious stepsThe ministerâs assurance of swift followup has raised expectations among Group C employees for whom career progression and cadre reforms have remained longstanding concerns Employee representatives thanked the Minister and said timely resolution of these issues would improve morale and efficiency in the Central Secretariat IANS https://dailyworld.in/business/minister-reiterates-resolve-to-ensure-timely-promotions-of-govt-employees-652336.html Tue, 09 Dec 2025 17:10:00 +0530 https://dailyworld.in/business/adani-group-invested-rs-10-000-crore-in-telangana-keen-on-more-projects-karan-adani-652081.html Hyderabad Dec 8 The Adani Group has invested Rs 10000 crores in Telangana during the last three years and looks forward to doing more projects in the state Adani Ports and Special Economic Zone Ltd APSEZ Managing Director Karan Adani said on Monday Addressing the Telangana Rising Global Summit at the upcoming Bharat Future City near here he said the Adani Group has so far invested nearly Rs 10000 crore in building infrastructure and manufacturing facilities and has contributed to the employment generation of more than 7000 peopleThe platform reflects the ambition and confidence with which Telangana is shaping its future Karan Adani saidUnder the leadership of Chief Minister Mr Revanth Reddy Telangana is experiencing clarity of vision and purpose that is rare in Indian public life Your focus on transparent governance rapid decisionmaking and longterm economic planning has created an environment where industries like ours can think boldly and invest with confidence he saidWhat stands out most is your commitment to building a state thatâs not just growing but growing with quality innovation and sustainability talent development and global competitiveness go handinhand he addedHe noted that over the last few years the Adani Group forged a strong and growing relationship with the state of Telangana In line with our earlier commitments we have initiated investments in sectors such as defence manufacturing green data centres renewable energy projects and cement manufacturing facilities across the state he saidKaran Adani mentioned that with the goal of Atmanirbhar Bharat the Adani Group has developed a leading defence and aerospace park in Hyderabad This stateoftheart facility is the first UAV manufacturing facility in the country where longendurance UAVs are manufactured The UAVs manufactured at this facility are supplied to both the Indian armed forces and also cater to the global market Today it provides direct employment to more than 1500 youth and supports many more livelihoods in its wider ecosystemâHe stated that in the area of digital infrastructure the Adani Group is setting up a 48 megawatt green data centre in Telangana with an investment of Rs 2500 crore This facility will be at the forefront of cuttingedge AI cloud technology and highperformance computing and will play a crucial role in meeting the needs of rapidly digitising IndiaHe noted that in the last few years Telangana witnessed tremendous growth in capital infrastructure and logistic infrastructureThe Adani Group has played an important role in building road infrastructure that connects different parts of the state making logistics more efficient and positioning Telangana at the forefront of a logistics gateway With the total investment of Rs 4000 crore in road infrastructure the Adani Group has built over 100 km of highways connecting key districts such as Mancherial Suryapet Kodad and Khammamâ he saidHe also revealed that to support Telanganaâs rapid infrastructure growth Adani Cements has invested Rs 2000 crore to establish stateoftheart cement manufacturing facilities with a combined capacity of seven million tonnes per annum IANS https://dailyworld.in/business/adani-group-invested-rs-10-000-crore-in-telangana-keen-on-more-projects-karan-adani-652081.html Tue, 09 Dec 2025 00:38:00 +0530 https://dailyworld.in/business/indias-ipo-proceeds-hit-record-rs-177-lakh-crore-in-2025-652339.html New Delhi Dec 9 Indiaâs initial public offerings IPO have raised a record Rs 177 lakh crore 196 billion in 2025 so far marginally higher than the 2024 tally as companies rush to capture increasing investor demand With five more offerings scheduled to close on or before December 16 including ICICI Prudential Asset Management Coâs 12âbillion deal the total value of IPO proceeds is set to rise much higher than last years proceedsIn 2024 Indian IPOs raised Rs 173 lakh crore according to data compiled by Bloomberg The surge reflects a maturing capital market driven by a swelling base of retail investors and steady institutional appetite even as demand for equities in the secondary market softenedAnalysts said that firms are using buoyant demand to lock in funding before global conditions tighten and India has eased the process for companies to list and initiated a run of bigticket dealsForeign institutional investors remain active participants in IPOs despite selling a record number of Indian equities in the secondary market FII enthusiasm in primary markets helped companies across sectors and market caps to raise capital at elevated valuationsAlmost half of the more than 300 firms listed so far this year are trading below their offer price when the scrips debutedSecurities and Exchange Board of India SEBI on Thursday proposed key reforms to address longstanding challenges around locking in preIPO pledged shares and simplifying public issue disclosuresSEBI has suggested enabling depositories to designate pledged shares as nontransferable for the lockin period in response to directives from the issuerIndiaâs financial markets are heading into 2026 with renewed confidence with notable surges in recent months and a resilient macroeconomic environment This sharp turnaround was fuelled by multiple domestic triggers including the GST 20 rate rationalisation that accelerated consumption across discretionary categories a surge in manufacturing activity reflected in a twomonth high PMI of 584 IANS https://dailyworld.in/business/indias-ipo-proceeds-hit-record-rs-177-lakh-crore-in-2025-652339.html Tue, 09 Dec 2025 17:11:00 +0530 https://dailyworld.in/business/private-equity-venture-capital-deals-count-reach-decade-high-of-1-761-in-2025-report-652341.html Mumbai Dec 9 Private equity and venture capital PEVC investments in India have surged to their highest levels in a decade with financial sponsors executing 1761 deals between January and November this year a report said on Tuesday The development signals renewed confidence in the countryâs longterm growth potential which surpassed the previous record of 1726 deals in 2021India has consistently recorded over 1000 PEVC deals every year for the past 10 years underlining the depth and maturity of its investment ecosystem Equirus Capital said in its reportAlongside the rise in deal count investment value has also climbed significantlyCalendar year 2025 to date has recorded 34 billion in PEVC investmentsâa 54 per cent increase over the 22 billion deployed in 2024 the report notedThis momentum is attributed not only to more deals but also to the rise in average deal size which grew from 344 million in 2024 to 416 million in 2025According to the report the number of PEVC investments stood at 1397 1364 in 2015 and 2016 respectively The numbers dropped sharply to 1073 and 1031 in 2017 and 2018 respectively However the investment picked up momentum in 2019 and 2020 with 1157 and 1130 deals respectivelyCalendar 2025 has already seen a 50 per cent jump in investments made by PEVC funds in the first 11 months as compared to the whole of calendar 2024 said Bhavesh Shah Managing Director and Head Investment Banking Equirus CapitalWith large new funds being raised by PE firms on the back of record exits in previous funds we believe India has shown its resilience as a market that offers financial investors multiple viable routes for exit once they have managed to scale up and grow their investee companies he addedSmaller deals continue to dominate activity with transactions up to 10 million accounting for over 30 per cent of total deal volume over the last five yearsMidmarket deals between 10â25 million and 25â50 million have expanded their share significantlyâfrom over 20 per cent in 2020 to over 40 per cent in 2025 so far reflecting investor appetite for scalable earlygrowth opportunities the report highlightedThe IT and consumer discretionary sectors remain the biggest beneficiaries attracting over 50 per cent of total PEVC investments in 2025 both by value and volumeTheir dominance underscores Indiaâs digital transformation and rising domestic consumption the report highlighted IANS https://dailyworld.in/business/private-equity-venture-capital-deals-count-reach-decade-high-of-1-761-in-2025-report-652341.html Tue, 09 Dec 2025 17:26:00 +0530 https://dailyworld.in/business/jharkhand-has-huge-potential-investments-on-the-way-gautam-adani-652344.html Dhanbad Dec 9 Adani Group Chairman Gautam Adani on Tuesday said that Jharkhand particularly Dhanbad holds significant potential and the state is poised for strong growth in the coming years Speaking to media on the sidelines of the Centenary Foundation Day celebrations of IITISM Dhanbad the Adani Group Chairman said that there are tremendous opportunities in Jharkhand and Dhanbad and the state will progress rapidly in the times aheadWhen asked specifically about the groupâs investment plans for Dhanbad the billionaire replied that âinvestments will come soonââPeople may call mining the old economy but without it there is no new economyâ the Chairman statedEarlier in the day Gautam Adani said the group will invest over 75 billion in energy transition over the next five yearsâAdani Group is investing over 75 billion in the space of energy transition over the next five years the Chairman notedThe billionaire businessman added that the Adani Group is consistently investing to build the worldâs fastestgrowing renewable energy companyAccording to him the global green energy transition is emerging as the largest industry of this era likely to be worth several trillion dollars in the coming decadesâThis transition will support electricitybased manufacturing green steel green fertilisers the hydrogen ecosystem and critical infrastructure that will power AI and digital economiesâ Gautam Adani notedAdani Group chairman reiterated that the group is committing more than 75 billion toward the energy transition initiative over the next five yearsGautam Adani also criticised a narrative from the recent COP30 conference in Brazil where a report downgraded Indiaâs sustainability ranking claiming the country lacked a timeline to phase out coal and was continuing coal block auctionsMeanwhile Prof Dheeraj Kumar Dy Director IIT ISM Dhanbad said that the Adani group chairman has announced 50 annual paid internships for thirdyear students and the setting up of an Adani 3S Mining Excellence Centre at the instituteHe also thanked Gautam Adani for encouraging students through his speech Dream boldly strive continuously embrace innovation and contribute to building a selfreliant India IANS https://dailyworld.in/business/jharkhand-has-huge-potential-investments-on-the-way-gautam-adani-652344.html Tue, 09 Dec 2025 17:34:00 +0530 https://dailyworld.in/business/india-set-to-be-global-ai-leader-by-2035-led-by-young-talent-data-rich-ecosystem-652089.html New Delhi Dec 8 Indiaâs strength in manpower data and scientific curiosity positions the country to become a global hub of semiconductor manufacturing officials said on Monday at the India International Science Festival IISF 2025 IISF 2025 which began on December 6 has emerged as one of the most impactful science events of the year inspiring young minds and strengthening Indiaâs pursuit of Viksit Bharat2047 an official statement saidIndia is preparing to become a global AI leader by 2035 powered by young talent and the countryâs datarich ecosystem IIT Ropar Director Prof Rajeev Ahuja saidAhuja underscored that the IndiaAI Mission aims to train one crore youth in AI build a national compute infrastructure develop indigenous AI models and promote responsible and ethical AIThe event brought leading voices from academia industry and research to explore how the evolution from Artificial Intelligence to Artificial General Intelligence will shape the future of science innovation and humanity the statement saidThe speakers stressed that AI will become integral to every profession and emphasised the need for Indiacentric data models and linguistic technologies to ensure equitable prosperity and digital inclusionSarvam AI CoFounder Pratyush Kumar showcased multilingual AI systems under the IndiaAI Mission including Indiaâs first sovereign foundational Large Language Model LLM for Indian languages Intels Data Centre Customer Engineering Director Gopal Krishna Bhatt described how India is rapidly advancing in server design chip development and highperformance computing hardwareHe noted that dozens of Indiabased server and datacentre hardware designs are currently underway reflecting the momentum created by the governmentâs semiconductor and digital infrastructure pushManish Modani from NVIDIA highlighted that Indiaâs rapidly expanding HighPerformance Computing HPC and Graphics Processing Units GPUbacked infrastructure is multiplying research output in fields ranging from climate modelling to language technologiesIndiaâs data scale linguistic diversity and scientific talent uniquely position the nation to lead the global transformation from AI to AGI he added IANS https://dailyworld.in/business/india-set-to-be-global-ai-leader-by-2035-led-by-young-talent-data-rich-ecosystem-652089.html Tue, 09 Dec 2025 00:43:00 +0530 https://dailyworld.in/business/over-50-lakh-employees-69-lakh-pensioners-to-benefit-from-8th-pay-commission-govt-652093.html New Delhi Dec 8 Over 50 lakh Central government employees and nearly 69 lakh pensioners stand to gain from the rollout of the 8th Central Pay Commission CPC the Parliament was informed on Monday The Centre currently employs 5014 lakh personnel while pensioners number around 69 lakh all of whom fall under the purview of the upcoming pay revision exercise Minister of State for Finance Pankaj Chaudhary told the Lok Sabha in a written reply to questions from members over the status of the timing of the implementation of the 8th CPC the status of its terms of reference ToR and on financial allocations for the scheme in the Budget of 2026â27The minister while allaying these apprehensions reiterated that the date of implementation of the 8th CPC would be decided by the government and that the Commission was bound to send its recommendations within 18 months from the date of its constitutionHe further assured that the government would earmark the necessary funds once the recommendations are vetted and approved The government will make appropriate provision of funds for implementing the accepted recommendations of the 8th CPC It will devise methodology and procedure for formulating its recommendationsâ Chaudhary notedThe Finance Ministry had already clarified that the 8th CPC will examine and recommend revisions related to pay allowances pensions and other service conditionsThis is in continuation of similar clarifications issued earlier in response to an unstarred question in the Rajya Sabha by members Javed Ali Khan and Ramji Lal Suman who sought to know whether the Centre planned to revise pensions or merge the existing Dearness Allowance DA and Dearness Relief DR with basic pay to provide immediate relief to staff and retireesChaudhary had earlier said that all such matters fall within the mandate of the newly constituted 8th CPC which was formally established through a government resolution on November 3 along with detailed Terms of Reference IANS https://dailyworld.in/business/over-50-lakh-employees-69-lakh-pensioners-to-benefit-from-8th-pay-commission-govt-652093.html Tue, 09 Dec 2025 00:44:00 +0530 https://dailyworld.in/business/global-airline-industrys-revenue-projected-to-rise-45-pc-to-over-1-trillion-in-2026-652355.html New Delhi Dec 9 The total revenues of the global airline industry are expected to reach 1053 trillion in 2026 up 45 per cent from 1008 trillion expected in 2025 the International Air Transport Association IATA said on Tuesday Meanwhile return on invested capital ROIC is expected to be 68 per cent unchanged from 2025Despite deleveraging and improved operating profitability ROIC is expected to remain below the weighted average cost of capital WACC estimated to be 82 per cent in 2026 IATA noted in a statementThe association said that in the upcoming year airlines combined total net profit is projected at 41 billion up from 395 billion in 2025 Profit numbers would set a new record the net profit margin may remain unchanged at 39 per cent from the current yearNet profit per passenger transported is expected to be 790 down from the 2023 high of 850At the same time operating profit in the industry would be 728 billion up over 8 per cent from 670 billion in 2025 for a net operating margin of 69 per cent improved on the 66 per cent expected for 2025The number of passengers is also expected to grow 44 per cent to 52 billion in 2026 As per the global air transport body the load factors are expected to continue setting new record highs as airlines seat accuracy is expected to be 838 per cent in the coming year 2026Cargo volumes are expected to reach 716 million tonnes up 24 per cent in 2025âAirlines are expected to generate a 39 per cent net margin and a 41 billion profit in 2026 Thatâs extremely welcome news considering the headwinds that the industry facesârising costs from bottlenecks in the aerospace supply chain geopolitical conflict sluggish global trade and growing regulatory burdens among themâ said Willie Walsh IATAâs Director GeneralMeanwhile according to IATA deliveries of new aircraft began to pick up in late 2025 and production is expected to accelerate next yearDemand is forecast to outstrip the availability of aircraft and engines The normalisation of the structural mismatch between airline requirements and production capacity is unlikely before 20312034 due to irreversible losses on deliveries over the past five years and a recordhigh order backlog IATA highlighted IANS https://dailyworld.in/business/global-airline-industrys-revenue-projected-to-rise-45-pc-to-over-1-trillion-in-2026-652355.html Tue, 09 Dec 2025 18:00:00 +0530 https://dailyworld.in/business/mou-signed-to-boost-marketing-and-export-of-mizorams-agri-produce--652100.html Aizawl Dec 8 In a landmark step the National Cooperative Exports Limited NCEL and the Mizoram State Cooperative Marketing amp Consumersâ Federation Limited MIZOFED signed a strategic Memorandum of Understanding MoU on Monday to strengthen the marketing and export of the stateâs agricultural produce An official said that the states Minister of Cooperation P C Vanlalruata was present at the MoU signing ceremony He said that the MoU signing ceremony marks a pivotal step towards integrating Mizoramâs agricultural and allied sector into the international export ecosystem through the cooperative sector MIZOFED established in 1981 and functioning as a key state government agency operates across all districts managing POL LPG and essential consumer product divisions and plays a crucial role in the public distribution system The official said that this partnership signifies a new dawn for Mizoramâs agrarian community paving the way for its unique products to reach discerning consumers worldwide and fostering sustainable economic growth through cooperative enterprise Meanwhile NITI Aayog recently formally declared Mizoram as the Ginger Capital of India recognising the stateâs reputation for producing highquality ginger and its rapid growth in ginger production in recent years The Mizoram government earlier expressed its gratitude to NITI Aayog for declaring the state as the âGinger Capital of Indiaâ Chief Minister Lalduhoma last week chaired a meeting with the members of the Mizoram Agricultural Marketing Board MAMB where the panel expressed its gratitude to NITI Aayog for declaring the state as the âGinger Capital of Indiaâ The meeting reviewed ongoing initiatives and assessed reports of activities undertaken during the current year including the highlevel Stakeholdersâ Consultation for Mizoram Ginger Produce held recently in New Delhi As per a detailed annual MAMB report on procurement over 338 crore kg of ginger has been purchased this year and the entire support price amounting to Rs 13772 crore has been fully disbursed The official said that the MAMB is preparing to host a âGinger BuyerSeller Meetâ where buyers from across India are expected to participate The event is expected to facilitate new trade agreements for the upcoming ginger harvestMeanwhile the new ginger processing unit at Sairang is scheduled to be inaugurated on January 12 next year IANS https://dailyworld.in/business/mou-signed-to-boost-marketing-and-export-of-mizorams-agri-produce--652100.html Tue, 09 Dec 2025 00:48:00 +0530 https://dailyworld.in/business/ab-pmjay202-crore-claims-amounting-to-rs-28-73218-crore-settled-in-fy25-says-govt-652356.html New Delhi Dec 9 A total of 202 crore claims under the Ayushman Bharat health insurance scheme amounting to Rs 2873218 crore have been settled till October the government informed the Parliament on Tuesday Ayushman Bharat Pradhan Mantri Jan Arogya Yojana ABPMJAY is a flagship scheme of the government which provides health cover of Rs 5 lakh per family per year for secondary and tertiary care hospitalisation to 12 crore families constituting the economically vulnerable bottom 40 per cent of Indiaâs populationAs of October 31 âmore than 4231 crore Ayushman cards have been created under the schemeâ said Prataprao Jadhav Union Minister of State for Health and Family Welfare in a written reply in the Rajya SabhaâTill October 31 a total of 202 crore claims amounting to Rs 2873218 crore have been settled in the last financial yearâ he addedThe Minister noted that in March 2024 the eligibility criteria were expanded to include 37 lakh Accredited Social Health Activists ASHA Anganwadi Workers AWW Anganwadi Helpers AWH and their familiesThe scheme was also expanded to cover 6 crore senior citizens of age 70 years and above belonging to 45 crore families irrespective of their socioeconomic status through the Ayushman Vay Vandana cardâMore than 4134 lakh Ayushman cards have been created for the ASHAAWWAWH categories and 8951 lakh cards have been issued under the Ayushman Vay Vandana category for senior citizensâ Jadhav saidMeanwhile the Minister noted that a total of 180906 Ayushman Arogya Mandirs AAMs the erstwhile Ayushman Bharat Health and Wellness Centres ABHWCs have been operationalised in the country till OctoberKey services provided at these centres include comprehensive screening services for five common noncommunicable diseases that is hypertension diabetes oral cancer breast cancer and cervical cancerâAs per the National Programme for Prevention and Control of NonCommunicable Diseases NPNCD portal 3879 crore screenings for hypertension 3605 crore screenings for diabetes 3188 crore screenings for oral cancer 1498 crore screenings for breast cancer and 815 crore screenings for cervical cancer have been conducted at SubHealth Centres SHC Primary Health Centres PHC in rural and urban areas including AAMs till October 31â Jadhav saidIn addition the teleconsultation services are also available at all operational AAMs across the country enabling people to access the specialist services closer to their homes addressing concerns of physical accessibility shortage of service providers and facilitating the continuum of careâTotal teleconsultations conducted at AAM are 4114 crore as on October 31â the Minister said IANS https://dailyworld.in/business/ab-pmjay202-crore-claims-amounting-to-rs-28-73218-crore-settled-in-fy25-says-govt-652356.html Tue, 09 Dec 2025 18:08:00 +0530 https://dailyworld.in/business/iit-madras-meity-join-hands-to-focus-on-translating-ai-principles-into-governance-652359.html New Delhi Dec 9 The Ministry of Electronics and Information Technology MeitY and IIT Madras are set to host a preâsummit event on December 11 in Chennai to advance Indiaâs vision for safe trusted and inclusive artificial intelligence AI the government said on Tuesday Anchored in Indiaâs commitment to ethical safe and inclusive AI the conclave will focus on translating AI safety and governance principles into practice an official statement saidThe Centre for Responsible AI CeRAI at IIT Madras in collaboration with the IndiaAI Mission under MeitY is conducting the event as a presummit ahead of the IndiaâAI Impact Summit 2026 early next yearThe conclave will examine pathways to establish an AI Safety Commons for the Global South creating shared datasets benchmarks and governance resources that enable safer and more reliable AI developmentThe discussions will also focus on translating responsible AI principles into practical governance and regulatory models that can be implemented across diverse cultural legal and technological contextsAs AI systems become integral to public and private domains concerns around fairness accountability and misuse have intensified highlighting the need for frameworks that are scalable enforceable and suited to diverse global contexts IT Ministry said in the statementThe Safe and Trusted AI Working Group at the event aims to bridge this gap by advancing an ecosystem grounded in transparency reliability and public trust where innovation progresses responsibly and the benefits of AI are shared equitablyThe programme opening with a formal inauguration on the evening of December 10 and followed by a hybrid closedâdoor working group meeting on December 11 will focus on translating AI safety and governance principles into practiceThe event brings together senior MeitY officials national and international experts from industry academia civil society and governmentBeing hosted in the Global South for the first time the IndiaâAI Impact Summit 2026 is scheduled to take place from February 15â20 2026 at Bharat Mandapam New DelhiThe summit aims to showcase the transformative role of AI in enabling inclusive development sustainability and fostering equitable progress IANS https://dailyworld.in/business/iit-madras-meity-join-hands-to-focus-on-translating-ai-principles-into-governance-652359.html Tue, 09 Dec 2025 18:17:00 +0530 https://dailyworld.in/business/centre-hands-over-955-lakh-houses-to-poor-under-pm-awas-yojana-652362.html New Delhi Dec 9 The Centre has already handed over as many as 9554 lakh houses to beneficiaries under two schemes of Pradhan Mantri Awas Yojana Minister of Housing and Urban Affairs Manohar Lal has informed Parliament Replying to supplementaries in the Rajya Sabha during question hour the minister said that a 2020 slum survey showed that 65 crore people comprising 139 crore households were living in slums across the countryHe explained that land and colonisation are State subjects and policies and programmes related to slum rehabilitation rest with respective states and Union Territories Hence data related to slum rehabilitation or relocation is not maintained by the ministryHowever in the National Capital Territory of Delhi NCTD the slum rehabilitation and demolitions are done by various land owning agencies like Delhi Development Authority DDA Delhi Urban Shelter Improvement Board DUSIB etc under the provisions of various applicable ActsAs part of its Slum Rehabilitation programme DDA has carried out demolition after properly rehabilitating eligible slum dwellers It involves a total of 5158 households out of which a total of 3414 were found eligible for alternative rehabilitation as per the DUSIB policy the minister said in a written reply to a questionThe eligible dwellers have been provided with alternative rehabilitation with all modern facilities Implementing agencies execute slum rehabilitation projects based on their own land management policies and the slum rehabilitation policy of States and UTsDuring the slum rehabilitation and resettlement land owning agencies and implementing agencies and affected families may also seek assistance under the Pradhan Mantri Awas Yojana â Urban PMAYU and PMAYU 20 if beneficiaries are otherwise eligible the minister pointed outMinistry of Housing and Urban Affairs MoHUA is supplementing the efforts of States and UTs by providing central assistance under PMAYU since June 25 2015 for the construction of houses for eligible families including slum dwellers he addedFurther based on the learnings from the experiences of implementation of PMAYU MoHUA has revamped the scheme and launched PMAYU 20 Housing for All Mission with effect from September 1 2024 to support 1 crore additional eligible beneficiaries in urban areas PMAYU 20 is implemented through four verticals ie Beneficiary Led Construction Affordable Housing in Partnership Affordable Rental Housing and Interest Subsidy Scheme he saidUnder PMAYU and PMAYU 20 a total of Rs 205 lakh crore has been sanctioned as Central Assistance of which Rs 175 lakh crore has been released to States and UTs and Rs 165 lakh crore has been utilised by them Although slum dwellers have received benefits under all verticals of PMAYU Rs 1800 crore Central Assistance has been specifically released under InSitu Slum Redevelopment vertical the minister added IANS https://dailyworld.in/business/centre-hands-over-955-lakh-houses-to-poor-under-pm-awas-yojana-652362.html Tue, 09 Dec 2025 18:26:00 +0530 https://dailyworld.in/business/flight-disruptions-air-india-to-improve-safety-minimise-passenger-inconvenience-652369.html New Delhi Dec 9 Amid flight disruptions Air India on Tuesday said it has stepped up preparations to minimise passenger inconvenience during the ensuing fog season announcing measures including CAT III B crew rostering deployment of CAT III Bâcertified aircraft networkwide airport readiness techenabled passenger assistance and proactive communications CAT III B crew Rostering and certified aircraft means assigning specially trained and certified flight crews along with deploying aircraft that can land in low visibility conditionsAir India has also activated its âFog Careâ initiative to help passengers in scenarios where there are delays or schedule changes due to situations beyond our control a release saidUnder the initiative flights that are likely to be affected by fog based on met forecast are proactively identified and passengers are alerted about any delay or a change in schedule the company saidPassengers can also avail complimentary rescheduling or opt for full refund without penalty through Air India Fog CareThe carrier said that northern India including its primary hub Delhi faces low visibility from dense fog that can impact flight schedules across its networkThe Directorate General of Civil Aviation has designated December 10 2025 to February 10 2026 as the official fog window this seasonAir India said it has strengthened internal standard operating procedures and adopted proactive measures to address potential fogrelated delays and disruptionsInitiatives include ensuring adequate cockpit crew trained in low visibility operations through CAT III B or specific Instrument Landing System ILS and standby crews for exigenciesFurther CAT III B certified aircraft will be deployed for operations during the fog window at strategic locations that are prone to fog impactFurther the airline said it ensured adequate ground support teams to aid passengers and kept ready care packages with refreshments and other resources at origin as well as diversion airports Airport teams will monitor delays make regular announcements and proactively rebook impacted passengers on alternative flights IANS https://dailyworld.in/business/flight-disruptions-air-india-to-improve-safety-minimise-passenger-inconvenience-652369.html Tue, 09 Dec 2025 18:46:00 +0530 https://dailyworld.in/business/microsoft-to-invest-175-bn-in-india-to-scale-up-ai-pm-modi-says-will-leverage-it-for-better-planet-652386.html New Delhi Dec 9 IANS Global tech giant Microsoft announced on Tuesday that it is investing 175 billion in India over the next four years 20262029 to drive AI diffusion in the country with Prime Minister Narendra Modi asserting that the countrys youth will harness this opportunity to innovate and leverage the power of AI for a better planetnbspToday we are announcing our largest investment in Asia 175 billion over four years CY 2026 to 2029 to advance Indias cloud and artificial intelligence AI infrastructure skilling and ongoing operations This investment builds on the 3 billion investment announced earlier this year which we are on track to spend by the end of CY2026 Microsoft said in a statementThe announcement came after Microsoft Chairman and CEO Satya Nadellas meeting here with Prime Minister ModinbspThank you Prime Minister Narendra Modi for an inspiring conversation on Indias AI opportunity To support the countrys ambitions Microsoft is committing US175Bour largest investment ever in Asiato help build the infrastructure skills and sovereign capabilities needed for Indias AI first future Nadella said in a post on XnbspResponding to Nadellas post PM Modi wrote When it comes to AI the world is optimistic about IndiaHad a very productive discussion with Mr Satya Nadella Happy to see India being the place where Microsoft will make its largestever investment in Asia The youth of India will harness this opportunity to innovate and leverage the power of AI for a better planet he postednbspMicrosoft said that India stands at a pivotal moment in its AI journey one defined by impact at scale determined to lead As technology becomes a catalyst for inclusive growth and economic transformation the country is emerging as a frontier AI nationNadella has arrived in India for an AI tour of the countrynbspIn the meeting with PM Modi both leaders discussed the countrys AI roadmap and growth priorities Microsofts investment in India focuses on three pillarsscale skills and sovereigntyaligned with the Prime Ministers vision of building a comprehensive ecosystem that drives AI innovation and access at a national scale according to the company statementnbspThe new investment will be used to continue to scale up Microsofts cloud and AI infrastructure skilling initiatives and ongoing operations across India This includes the companys workforce of more than 22000 employees across Bengaluru Hyderabad Pune Gurugram Noida and other cities representing the diversity of Microsofts businesses They drive every part of its product cycle from model development to engineering and product innovation Their work contributes to innovation across Microsofts AI stack from infrastructure to app platforms to products while operating hyperscale datacenters and delivering sales and support to customers nationwide These teams are not only powering Indias digital transformation but also delivering AI impact at scale globally Copilot Studio Azure AI Search AI agents AI speech and translation Azure Machine Learning and more Every day they collaborate closely with Indias leading enterprises developers and institutions to unlock the promise of AI for the country according to the Microsoft statementOne of the key priorities of the Microsoft investment is building secure sovereignready hyperscale infrastructure to enable AI adoption in India At the heart of this effort is the significant progress being made at the India South Central cloud region based in Hyderabad that is set to go live in mid2026 This will be our largest hyperscale region in India comprising three availability zones roughly equivalent in size to two Eden Gardens stadiums combined the statement saidnbspThe company said it will also continue to expand the three existing operational data centre regions in Chennai Hyderabad and Pune This expansion provides organisations across India greater choice and resilience enabling lowlatency missioncritical performance for enterprises startups and public sector institutionsUnion Minister of Electronics ampamp Information Technology Ashwini Vaishnaw said As AI reshapes the digital economy India remains committed to innovation anchored in trust and sovereignty Microsofts landmark investment signals Indias rise as a reliable technology partner for the world This partnership will set new benchmarks and drive the countrys leap from digital public infrastructure to AI public infrastructurenbspMicrosoft India and South Asia President Puneet Chandok said Building on the 3 billion investment announced in January 2025 Microsofts new 175 billion commitment and deep partnership across Indias technology ecosystem are focused on turning Indias AI ambition into impact for every citizen This transformation is anchored on three pillars hyperscale infrastructure to run AI at scale sovereignready solutions that ensure trust and skilling programs that empower every Indian to not just join the future but shape it https://dailyworld.in/business/microsoft-to-invest-175-bn-in-india-to-scale-up-ai-pm-modi-says-will-leverage-it-for-better-planet-652386.html Tue, 09 Dec 2025 19:37:00 +0530 https://dailyworld.in/business/govt-working-on-multi-pronged-action-plan-to-boost-exports-minister-652387.html New Delhi Dec 8 The government has adopted a multipronged and integrated strategy to bolster Indias exports across all sectors with a special focus on addressing global market challenges and supporting exporters including MSMEs and small exporters the Parliament was informed on Tuesday The strategy combines enhanced infrastructure digital transformation financial support and targeted market initiatives to create a resilient and competitive export ecosystem Minister of State for Commerce and Industry Jitin Prasada told the Lok SabhaIn a written reply to a question in the Lok Sabha he said that in response to recent global trade headwinds the government is intensifying efforts through both flagship schemes and sectorspecific interventionsHe pointed out that the Union Budget provides a total outlay of Rs 25060 crore for FY 202526 to FY 203031 for a comprehensive flexible and digitallydriven framework for export promotion It aims to strengthen the competitiveness of key sectors like textiles engineering goods pharmaceuticals and agricultureThe minister said that the Central government has also introduced the Credit Guarantee Scheme for Exporters CGSE to provide 100 per cent credit guarantee coverage by the National Credit Guarantee Trustee Company Limited NCGTC to Member Lending Institutions MLIs for extending additional credit facilities up to Rs 20000 crore to eligible exporters including MSMEs It will strengthen liquidity ensure smooth business operations and reinforce Indias progress towards Aatmanirbhar BharatThe Export Credit Guarantee Corporation of India ECGC has introduced several measures to support exporters including collateralfree cover to stimulate export credit among MSME exporters who are not in a position to offer any collateral or thirdparty guarantee he addedUnder the International Cooperation Scheme being implemented by the Ministry of Micro Small and Medium Enterprises financial assistance is provided on a reimbursement basis to the eligible Central and State government organisations and industry associations to facilitate participation of MSMEs in international exhibitions and buyerseller meets held abroad and for organising international conferences in India with the aim of technology upgradation modernisation and forming joint venturesFurther reimbursement is provided to firsttime micro amp small exporters for costs incurred on RegistrationcumMembership Certification RCMC with Export Promotion Councils EPCs Export Insurance Premium and Testing amp Quality Certification for exportBharat Trade Net BTN announced in the Union Budget 2025 is another flagship digital public infrastructure developed by DGFT under the Ministry of Commerce amp Industry It aims to digitise trade documents improve access to export finance and integrate Indias trade ecosystem with global standards the minister observedAdditionally the government is proactively working to diversify Indias export basket and reduce dependency on traditional markets by identifying and facilitating entry into new and emerging global markets Leveraging Free Trade Agreements the government aims to promote export diversification and has signed 15 Free Trade Agreements FTAs and 6 Preferential Trade Agreements PTAs with its trading partners The government is working with all stakeholders to enable exporters to better utilise the benefits of Indias FTAs with major markets such as Japan Korea and the UAE and effectively utilise the opportunities that have been created with the recently concluded FTAs such as with the EFTA countries and the UK The government is also engaged in negotiations for early conclusion of FTAs with countries and groupings such as the EU Peru Chile New Zealand and Oman the minister added IANS https://dailyworld.in/business/govt-working-on-multi-pronged-action-plan-to-boost-exports-minister-652387.html Tue, 09 Dec 2025 19:37:00 +0530 https://dailyworld.in/business/govts-7-working-groups-finalise-roadmap-for-bharat-6g-mission-652399.html New Delhi Dec 9 The seven dedicated Working Groups constituted earlier by the Centre under the Bharat 6G Alliance presented their progress and roadmap here at a quarterly review meeting chaired by Union Communications Minister Jyotiraditya M Scindia on Tuesday Highlighting the structure of B6GAâs seven working groups Scindia stressed that technology spectrum devices applications and sustainability verticals must align seamlessly for innovations to mature and scale He said monthly joint reviews between working groups are essential to ensure that breakthroughs in one domain translate into actionable outcomes in othersHe pointed out that spectrum policy will be central to Indiaâs 6G strategy and noted that India has already undertaken significant spectrum refarming with more planned aheadUnderstanding global trends he said will be vital for building a longterm national spectrum approach for 6G On devices he called for a holistic understanding of the value chain from design to manufacturing India must balance high volumes with affordability he said noting that Indiaâs market dynamics are fundamentally different from those of Europe or the United States He encouraged exploration of standardised device frameworks to accelerate scale and reduce costsScindia underscored the importance of joint innovation models noting that India must bring entrepreneurs academia and industry together drawing inspiration from collaborative development seen in countries like Germany and Japan after periods of major reconstructionHe emphasised that India must define 6G use cases rooted in Indian needs rather than relying solely on global templatesThe minister reaffirmed that Indiaâs 6G journey is not just about technological advancement but about building a selfreliant ecosystem that benefits citizens industry and the global community Indiaâs pursuit of 6G he said must not only deliver for the nation but must originate from Indian innovation With an expanding ecosystem of researchers startups and industry partners India is wellpositioned to shape the future of digital connectivityThe Bharat 6G Alliance a collaborative platform committed to driving indigenous design development and deployment of 6G technologies is central to Indiaâs ambition of becoming a global leader in advanced communications and a major supplier of IP products and solutions for affordable 5G and 6G systemsThe Working Groups focus on spectrum device technology components sensors and the manufacturing ecosystem core technology applications green and sustainability dimensions outreach and international engagement and 6G use cases and revenue systems ensuring that every critical pillar of the Bharat 6G Mission is addressed in a coordinated and comprehensive mannerThe minister laid out the core objectives of the Bharat 6G Mission defining clear phasewise goals close consultation with the Bharat 6G Alliance identifying priority research areas commissioning independent evaluations and ensuring quarterly progress reviews He stressed the need for India to build endtoend value chains break complex challenges into manageable components and track measurable progress every three months instead of annual cyclesScindia reiterated that India should not merely adapt to global standards but aim to shape them While aligning with international bodies such as 3GPP and ITU Indiancentric innovations must become globally relevant He highlighted that uniqueness and ubiquity are both essential for Indiaâs leadership in telecom technology IANS https://dailyworld.in/business/govts-7-working-groups-finalise-roadmap-for-bharat-6g-mission-652399.html Tue, 09 Dec 2025 20:11:00 +0530 https://dailyworld.in/business/gujarats-jhopadi-electrification-scheme-brings-light-to-over-10-lakh-poor-households-652410.html Gandhinagar Dec 9 To improve the living conditions of the stateâs poorest families the Gujarat governmentâs Jhopadi Electrification Scheme continues to expand access to free electricity connections for hut dwellers across rural and urban areas According to the state government over 1009 lakh jhopadis have been provided free electricity connections under the scheme so far up to November 2025 In the last five years alone the government spent Rs 8499 lakh to electrify 152466 jhopadis significantly improving the quality of life for lowincome familiesFor 202526 Chief Minister Bhupendra Patel has earmarked an additional Rs 1617 lakh to ensure the scheme reaches even more beneficiaries To ensure that more poor families qualify the state has steadily increased the annual income cap for beneficiaries A decade ago the limit was just Rs 27000 Today it has been raised to Rs 150 lakh covering both BPL households and other economically weak families regardless of casteIn 2018 the income limits were revised substantially Rural beneficiaries from Rs 47000 to Rs 120 lakh Urban beneficiaries from Rs 68000 to Rs 150 lakh This expansion has enabled thousands more hut dwellers to access free electricity connections The scheme launched in 199697 was originally implemented by the Gujarat Electricity Board GEB In 2003 then Chief Minister and now Prime Minister Narendra Modi undertook major power sector reforms and restructured GEB into four distribution companies DGVCL MGVCL PGVCL and UGVCL Since then these four DISCOMs have been executing the Jhopadi Electrification SchemeThe current government led by CM Bhupendra Patel has continued this reformdriven approach accelerating electrification for the poorest households During 202425 the state provided 25939 free electricity connections under the scheme for Rs 161703 lakh This sustained investment officials say highlights the governmentâs commitment to improving ease of living and reducing povertyThe scheme is implemented under the Energy amp Petrochemicals Department Eligible BPL and lowincome families can apply as follows Rural areas Applications must be submitted to the Taluka Development Officer or the Taluka Panchayat office Urban areas Applications are accepted at the municipality or municipal corporation office Approved beneficiary lists are forwarded to the respective DISCOM regional offices which then issue free electricity connections after verifying eligibility norms IANS https://dailyworld.in/business/gujarats-jhopadi-electrification-scheme-brings-light-to-over-10-lakh-poor-households-652410.html Tue, 09 Dec 2025 23:06:00 +0530 https://dailyworld.in/business/gujarat-blue-flag-shivrajpur-beach-emerges-as-global-icon-of-coastal-tourism-652415.html Gandhinagar Dec 9 Gujaratâs tourism landscape is setting a new global benchmark with the remarkable transformation of Shivrajpur Beach in Devbhumi Dwarka now the stateâs first Blue Flag certified beach as shared by officials on Tuesday The prestigious international tag not only enhances Gujaratâs coastal identity but also reflects the stateâs strong commitment toward developing worldclass sustainable and modern tourism infrastructureAligning with Prime Minister Narendra Modiâs âDekho Apna Deshâ vision the evolution of Shivrajpur Beach demonstrates Gujaratâs forwardlooking effort to provide an internationalquality beach experience within India itself Located along Gujaratâs 2340km coastline Shivrajpur Beach has long been admired for its cleanliness natural tranquillity and safe environment The Blue Flag certification elevates it into the league of the worldâs best beaches recognising high standards of environmental management safety protocols and sustainable touristfriendly facilitiesDeveloped by the Tourism Corporation of Gujarat Ltd TCGL with an investment of Rs 130 crore Shivrajpur has emerged as a model coastal development project This success will be prominently showcased at the upcoming Vibrant Gujarat Regional Conference VGRC in Rajkot where the KutchSaurashtra coastal and cultural tourism circuit will present a comprehensive investment roadmap for the first time The beach now features a comprehensive range of modern amenities that significantly enhance the visitor experienceThese include a stateoftheart arrival plaza a dedicated snorkelling plaza welldeveloped cycling tracks and a scenic promenade Essential infrastructure such as a sludge treatment plant and a newly developed 11km access road has further improved connectivity and sustainabilityTo ensure comfort and convenience for tourists the beach is also equipped with changing and shower rooms along with a childrenâs play zone that adds to its appeal as a familyfriendly coastal destination Upcoming attractions such as the proposed Beach Festival and themebased coastal events aim to position Shivrajpur as an international hotspot for beachbased tourism and cultural celebrationsMeanwhile the DwarkaOkha Urban Development Authority is preparing an integrated tourism plan for Dwarka Bet Dwarka and Shivrajpurâan effort expected to transform the entire belt into a major hub for tourism and investment Leading domestic and international investors along with key strategic partners will be invited to explore a wide range of highreturn opportunities across the KutchSaurashtra tourism circuit These include the development of premium coastal resorts in Devbhumi Dwarka largescale water sports and adventure tourism projects and ecotourism as well as heritage hospitality ventures across the culturally rich KutchSaurashtra belt The region also offers promising prospects for forestbased tourism in the Gir landscape and vibrant cultural and experiential tourism initiatives throughout the Rann collectively positioning the area as one of Indiaâs most attractive emerging tourism investment destinationsThe Vibrant Gujarat Regional Conference VGRC scheduled for January 1012 2026 in Rajkot is set to become a turning point for coastal tourism development in the region With Shivrajpurâs transformation as the flagship model the Gujarat government plans to spotlight the vast investment potential across the KutchSaurashtra circuit With Shivrajpur Beach standing tall as Gujaratâs new global tourism symbol the state is poised to showcase its coastal ambitions on the international stage ushering in a new era of sustainable tourism worldclass experiences and transformative investments across western India IANS https://dailyworld.in/business/gujarat-blue-flag-shivrajpur-beach-emerges-as-global-icon-of-coastal-tourism-652415.html Tue, 09 Dec 2025 23:21:00 +0530 https://dailyworld.in/business/s-korean-finance-ministry-to-launch-task-force-to-address-weaker-won-652161.html Seoul Dec 9 The finance ministry is working to set up a task force charged with devising measures to respond to the weakening local currency in cooperation with exporters securities firms and relevant authorities officials said on Tuesday The new team under the ministrys international finance bureau comes as the Korean won has remained weak staying well below the closely watched level of 1450 won per US dollar and nearing its lowest point since 2009 reports Yonhap news agencyThe decline has been partly driven by local investors heavy purchases of foreign securities and a selloff of Korean securities by foreigners following recent sharp market gainsTo address the situation the task force will regularly monitor exporters currencyconversion behavior and their overseas investment positions while considering incentives for companies that convert foreigncurrency earnings into wonExperts say exporters have recently been holding on to their dollar proceeds instead of selling them immediately in anticipation of the further depreciation of the local currency and the trend has contributed to additional weakening of the wonTax incentives are also under review including expanding the tax exemption on dividends received from overseas subsidiariesThe envisioned task force is also expected to strengthen oversight of securities companies as authorities plan to examine whether securities firms are fulfilling their obligation to properly explain overseas investment products to clients and whether their marketing practices encourage excessive leveraged investmentSeparately a fourparty consultative body comprising the ministry the Bank of Korea BOK the National Pension Service NPS and the welfare ministry that oversees the pension fund will devise a new framework to align the NPS investment returns with market stability and to ease the FX market volatility the officials addedThe local currency closed at 14669 won per dollar on Monday down 19 won from the previous session IANS https://dailyworld.in/business/s-korean-finance-ministry-to-launch-task-force-to-address-weaker-won-652161.html Tue, 09 Dec 2025 12:55:00 +0530 https://dailyworld.in/business/indian-stock-markets-open-lower-amid-profit-booking-652165.html Mumbai Dec 9 Indian stock markets opened sharply lower on Tuesday as investors booked profits after the recent rally Sentiment weakened further after reports suggested that US President Donald Trump may consider imposing new tariffs on Indian rice raising fresh worries about unresolved trade issues between Washington and New DelhiThe Sensex slipped 380 points or 045 per cent to 84723 in early trade The Nifty also moved in the same direction falling 124 points or 048 per cent to 25837âOn the technical front the Nifty now holds immediate support in the 25800â25850 range while resistance is seen around 26100â26150 where repeated intraday rejection highlights strong overhead supplyâ experts saidâA decisive breakout above this area will be essential for the index to regain upward momentum while a sustained move below support may extend the ongoing consolidationâ they addedThe tone in the market remained cautious as major heavyweight stocks came under pressureSeveral bluechip companies led the decline on the Sensex Asian Paints Tech Mahindra Trent Eternal Reliance Industries TCS Ultratech Cement Tata Steel MampM Tata Motors PV HCL Tech and BEL were among the top laggards with losses of up to 25 per centOnly Hindustan Unilever and Bharti Airtel managed to stay in positive territory on the 30share indexThe weakness was visible across the broader market as well The Nifty MidCap index dropped 064 per cent while the Nifty SmallCap index was down 061 per centSectorwise the Nifty IT and Metal indices were among the worst performers slipping 09 per cent and 08 per cent respectivelyThe Nifty Auto index also fell 08 per cent while the Realty index declined 06 per centAnalysts said that the market mood turned cautious as global trade concerns resurfaced prompting investors to trim their positions and wait for further clarity IANS https://dailyworld.in/business/indian-stock-markets-open-lower-amid-profit-booking-652165.html Tue, 09 Dec 2025 12:56:00 +0530 https://dailyworld.in/business/police-raid-coupang-to-seize-evidence-related-to-major-data-breach-652170.html Seoul Dec 9 Police on Tuesday raided the headquarters of ecommerce giant Coupang in South Korea to seize evidence related to the companys massive data breach officials said The searchandseizure took place after Coupang disclosed late last month that personal information of 337 million customers had been compromised including their names phone numbers email addresses and delivery details reports Yonhap news agencyThe Seoul Metropolitan Police Agencys cyber investigation team sent officials to the companys headquarters in southern Seoul to search for evidence that could help determine how the breach took placeBased on the secured digital evidence we plan to comprehensively determine the overall facts of the case such as the leaker of the personal information as well as the route and cause of the leak a police official saidPolice had previously investigated the case based on data voluntarily submitted by CoupangPolice earlier said they are tracking down the suspect behind the data breach after securing the Internet Protocol address that was usedMeanwhile the Fair Trade Commission FTC has launched an investigation into allegations that ecommerce giant Coupang Inc deliberately made its account withdrawal process complex officials saidThe investigation aims to determine whether Coupangs account deletion procedures violate the Act on Consumer Protection in Electronic Commerce according to the officialsThe probe comes amid criticism that users seeking to delete their Coupang account must complete multiple steps including entering their password twice filling out a survey and going through other proceduresAt the same time the FTC has ordered Coupang to submit measures to simplify its account deletion procedures as a preemptive consumer protection measure noting that the investigation could take months to conclude the officials saidAdditionally the antitrust regulator is also looking into suspicions that Coupangs terms of service may violate related laws IANS https://dailyworld.in/business/police-raid-coupang-to-seize-evidence-related-to-major-data-breach-652170.html Tue, 09 Dec 2025 12:58:00 +0530 https://dailyworld.in/business/gold-open-flat-ahead-of-the-us-fed-policy-outcome-652176.html Mumbai Dec 9 Gold prices were steady in early trade on Tuesday as investors stayed cautious ahead of the US Federal Reserveâs interest rate decision On the Multi Commodity Exchange MCX gold February contracts were unchanged at Rs 129978 per 10 grams during early tradeIn the domestic market MCX Gold Feb is trading near Rs 129952 closely tracking the global uptrend while also receiving support from rupee weakness market experts saidThe Rs 129200 region continues to act as a key shortterm support As long as this level holds the path remains open toward the Rs 130000âRs 131000 resistance zone analysts statedSilver however moved higher with MCX silver March futures rising 050 per cent to Rs 182705 per kgThe focus in global markets is now on the Federal Reserve which will announce its policy decision on Wednesday December 10The meeting comes at a time when the US job market is showing signs of cooling even as inflation remains above the central bankâs 2 per cent targetRecent data showed that the Personal Consumption Expenditures PCE price index the Fedâs preferred inflation measure rose 03 per cent in September matching the increase in AugustOn an annual basis the index climbed 28 per cent slightly higher than the 27 per cent rise seen in the previous monthMeanwhile US private payroll data released last week indicated the sharpest decline in more than two and a half years with private sector jobs falling by 32000 in NovemberAt the same time unemployment benefit claims dropped to 191000 in the week ending November 29 the lowest level in more than three years and well below economistsâ expectations of 220000Economists at Comerica expect the Federal Open Market Committee to reduce the federal funds rate by 25 basis points bringing it to a range between 350 per cent and 375 per cent in its final policy move of the yearAlthough expectations of a rate cut generally support gold prices the gains are being limited by higher bond yieldsThe benchmark US 10year Treasury yield climbed to a twoandahalfmonth high on Monday adding pressure on the precious metal IANS https://dailyworld.in/business/gold-open-flat-ahead-of-the-us-fed-policy-outcome-652176.html Tue, 09 Dec 2025 13:00:00 +0530 https://dailyworld.in/business/gold-silver-open-flat-ahead-of-the-us-fed-policy-outcome-652177.html Mumbai Dec 9 Gold prices were steady in early trade on Tuesday as investors stayed cautious ahead of the US Federal Reserveâs interest rate decision On the Multi Commodity Exchange MCX gold February contracts were unchanged at Rs 129978 per 10 grams during early tradeIn the domestic market MCX Gold Feb is trading near Rs 129952 closely tracking the global uptrend while also receiving support from rupee weakness market experts saidThe Rs 129200 region continues to act as a key shortterm support As long as this level holds the path remains open toward the Rs 130000âRs 131000 resistance zone analysts statedSilver however moved higher with MCX silver March futures rising 050 per cent to Rs 182705 per kgThe focus in global markets is now on the Federal Reserve which will announce its policy decision on Wednesday December 10The meeting comes at a time when the US job market is showing signs of cooling even as inflation remains above the central bankâs 2 per cent targetRecent data showed that the Personal Consumption Expenditures PCE price index the Fedâs preferred inflation measure rose 03 per cent in September matching the increase in AugustOn an annual basis the index climbed 28 per cent slightly higher than the 27 per cent rise seen in the previous monthMeanwhile US private payroll data released last week indicated the sharpest decline in more than two and a half years with private sector jobs falling by 32000 in NovemberAt the same time unemployment benefit claims dropped to 191000 in the week ending November 29 the lowest level in more than three years and well below economistsâ expectations of 220000Economists at Comerica expect the Federal Open Market Committee to reduce the federal funds rate by 25 basis points bringing it to a range between 350 per cent and 375 per cent in its final policy move of the yearAlthough expectations of a rate cut generally support gold prices the gains are being limited by higher bond yieldsThe benchmark US 10year Treasury yield climbed to a twoandahalfmonth high on Monday adding pressure on the precious metal IANS https://dailyworld.in/business/gold-silver-open-flat-ahead-of-the-us-fed-policy-outcome-652177.html Tue, 09 Dec 2025 13:00:00 +0530 https://dailyworld.in/business/lt-foods-drops-over-65-pc-other-indian-rice-stocks-also-slide-652182.html Mumbai Dec 9 Shares of leading Indian rice companies fell sharply on Tuesday after US President Donald Trump warned that he may impose fresh tariffs on agricultural imports specifically targeting Indian rice and Canadian fertilisers The statement triggered immediate selling in stocks linked to the rice trade LT Foods was the biggest loser with its share price slipping 685 per cent to Rs 36655Shares of KRBL also declined falling 114 per cent while GRM Overseas dropped 446 per centThe sudden slide reflected investor concerns that any new US tariffs could hurt export demand and impact earnings for these companiesTrump made his remarks during a White House event where he announced new support measures for US farmersHis comments come at a time when trade tensions between the United States and India continue to resurfaceIndia remains the worldâs largest rice producer with an output of 150 million tonnes and a 28 per cent share in global productionIt is also the top exporter accounting for 303 per cent of global rice exports in 2024â2025 data from the Indian Rice Exporters Federation showedDespite this large global presence Indiaâs rice exports to the US are relatively smallAccording to the India Brand Equity Foundation India shipped around 234000 tonnes of rice to the US in the 2024 financial year which is less than 5 per cent of its total global basmati exports of 524 million tonnesWest Asian countries remain the biggest buyers of Indian rice Among the varieties exported worldwide the Sona Masoori variety is especially popular in markets like the US and AustraliaThe US under Trumpâs leadership has already imposed steep tariffs on India including a 50 per cent tariff its highest along with a 25 per cent levy on Indiaâs Russian oil imports IANS https://dailyworld.in/business/lt-foods-drops-over-65-pc-other-indian-rice-stocks-also-slide-652182.html Tue, 09 Dec 2025 13:02:00 +0530 https://dailyworld.in/business/centre-approves-rs-6867-crore-for-25-new-road-projects-in-tripura-652194.html New Delhi Dec 9 The Ministry of Rural Development on Tuesday approved 25 new road projects in Tripura under the Road Connectivity component of the PMJANMAN scheme These projects cover a total length of 6538 kilometres and will be developed at an estimated cost of Rs 6867 croreThe move is expected to significantly boost infrastructure and connectivity in the state especially in remote tribal regionsâThe Ministry of Rural Development has sanctioned 25 road projects measuring 6538 km length under the Road Connectivity component of PMJANMAN with an estimated investment of Rs 6867 crore for Tripuraâ the ministry statedAccording to the ministry the new roads will provide allweather connectivity to 30 habitations belonging to Particularly Vulnerable Tribal Groups PVTGsBetter roads are expected to improve the daily lives of these communities by making travel easier and safer throughout the yearâEnhance connectivity in rural areas bridging the gap between remote villages and urban centresâ it addedThe initiative is aimed at strengthening rural connectivity and linking remote villages with nearby towns and urban centresOfficials believe that improved transport links will support economic activity help local trade grow and create more job opportunities for people living in these areasThe project is also expected to make essential services more accessible With better roads residents of tribal regions will find it easier to reach hospitals schools and local marketsThis in turn can help improve health outcomes boost education levels and support income growthThe ministry said these developments align with the governmentâs broader vision of building a stronger Northeast and working toward a developed India under the Viksit Bharat missionThe PMJANMAN projects are expected to play a transformative role in the region and reaffirm the governmentâs commitment to inclusive growth for all tribal communities in the NortheastOfficials added that the improved connectivity would bring longterm benefits helping tribal groups integrate more closely with mainstream economic activities and supporting overall development across Tripura IANS https://dailyworld.in/business/centre-approves-rs-6867-crore-for-25-new-road-projects-in-tripura-652194.html Tue, 09 Dec 2025 13:07:00 +0530 https://dailyworld.in/business/disruptions-continue-indigo-cancels-58-flights-at-hyderabad-airport-652212.html Hyderabad Dec 9 Flight operations remained disrupted at Hyderabads Rajiv Gandhi International Airport RGIA for the eighth consecutive day with IndiGo cancelling 58 services for Tuesday The airline cancelled 14 arrivals and 44 departures on key routes including Delhi Mumbai Goa Cochin Visakhapatnam Varanasi Patna Srinagar Kolkata Ahmedabad Prayagraj Lucknow Chennai and JodhpurFor the first time since December 4 the number of daily cancellations has fallen below 100On Monday the airline had cancelled 112 flights The daily tally of cancellations has been coming down since December 6However the passengers continued to face the inconvenience due to cancellations More than 600 IndiGo flights have been cancelled at Hyderabad airport since December 2On Tuesday IndiGo cancelled six flights at Visakhapatnam airportAuthorities have made alternate arrangements for stranded passengers SpiceJet is operating additional services to clear the rushSouth Central Railway SCR and Telangana State Road Transport Corporation TGSRTC are operating special servicesThe SCR is operating special trains to various destinations including Mumbai Delhi Pune and HowrahThe TGSRTC is running special buses to Chennai Bengaluru Vijayawada Rajahmundry Kakinada and VisakhapatnamIndiGo said in a statement on Monday that it operated over 1800 flights on Monday up from 1650 on Sunday The airline announced that it has fully restored the network coverageIt said the ontime performance OTP across the entire network also improved to 90 per cent on Monday This was 75 per cent on MondayIndiGo also announced that it has already refunded Rs 827 crore while the rest is under process for cancellations up to December 15The airline said it facilitated stranded customers and arranged over 9500 hotel rooms and nearly 10000 cabsbuses between December 1 to 7Over 4500 bags have been delivered to respective customers and we are on track to deliver the rest in the next 36 hours it said IANS https://dailyworld.in/business/disruptions-continue-indigo-cancels-58-flights-at-hyderabad-airport-652212.html Tue, 09 Dec 2025 13:14:00 +0530 https://dailyworld.in/business/indias-financial-sector-outperforms-global-peers-in-2025-amid-geopolitical-tensions-652215.html New Delhi Dec 9 Indias financial sector outperformed major global peers with broadly positive outcomes amid geopolitical tensions tariff wars and supplyâchain disruptions showcasing resilience and stability a report said on Tuesday Financial services sector recorded mixed year marked by growth regulatory shifts and sustained digitisation efforts across the ecosystem said the report from Grant Thornton summarising how the sector fared in CY25The financial sector saw accelerated credit growth of around 20 per cent led by NBFCs with retail loans MSME financing and specialised credit such as gold and vehicle loans contributing substantially while banks maintained steady growth in retail and MSME lendingMFIs and smaller NBFCs faced profitability pressures alongside macroeconomic challenges such as interest rate volatility and inflation the report addedCooperative and urban cooperative banks continued to confront governance technology and compliance gapsCapital markets remained active with increased investment activity while insurance sector reforms progressed enabling wider coverage and industry expansionOn the macro front Reserve Bank of India upgraded Indias GDP growth to 68 per cent and inflation eased to its lowest level in a decade enabling monetary easing and supporting credit growth and consumptionDespite tax cuts and GST rate rationalisation India remained on track to meet its fiscal deficit target supported by record RBI dividends and ongoing disinvestmentThe RBI maintained a neutral monetary policy stance and kept the repo rate at 550 per cent amid confidence that headline inflation will remain within or close to its target band for FY26The governments continued focus on strengthening Digital Public Infrastructure was evident from expanding the Unified Lending Interface advancing a central bankâbacked digital currency framework accelerating Account Aggregator adoption and scaling the Open Network for Digital Commerce to integrate MSMEs NBFCs and banks into interoperable digital marketplacesThe regulators focused on simplifying the processes while enforcing a stricter compliance and governance frameworks to promote sustainable and scalable growth in the sector IANS https://dailyworld.in/business/indias-financial-sector-outperforms-global-peers-in-2025-amid-geopolitical-tensions-652215.html Tue, 09 Dec 2025 13:15:00 +0530 https://dailyworld.in/business/mutual-fund-penetration-in-india-set-to-double-to-20-pc-by-2035-report-652217.html New Delhi Dec 9 Indiaâs mutual fund penetration is expected to double from 10 per cent to 20 per cent over the next decade marking one of the biggest shifts in the countryâs investment habits a new report said on Tuesday This projection comes from the âHow India Invests 2025â report released by Bain amp Company in partnership with Groww which says the next phase of growth will be driven by rising participation from smaller cities and a new generation of young investorsAccording to the report Indiaâs mutual fund assets under management are likely to cross Rs 300 lakh crore by 2035 while direct equity holdings may reach Rs 250 lakh croreThe report highlights that the mutual fund ecosystem is expanding rapidly with more households embracing marketlinked investmentsThe shift is being supported by digital platforms favourable regulations and growing trust among investors who now prefer longterm wealth creation over traditional savingsThe report notes that the majority of new growth will come from mass and massaffluent households living beyond the top 30 citiesMany affluent investors from the next 70 cities are also expected to adopt mutual funds more activelyThis expanding participation is reflected in the rise of longterm investing the share of overfiveyear holdings in the industryâs assets has more than doubled in recent yearsSaurabh Trehan Partner and Head of Bainâs Financial Services practice in India said Indian families are steadily moving away from a savingsdriven mindset to a more investmentled approachHe added that young and firsttime investors especially those living outside major metros are playing a central role in strengthening the countryâs domestic investor baseSIP inflows and longterm holdings have grown sharply and these trends are expected to play a key role in financing Indias economic growth in the coming years IANS https://dailyworld.in/business/mutual-fund-penetration-in-india-set-to-double-to-20-pc-by-2035-report-652217.html Tue, 09 Dec 2025 13:16:00 +0530 https://dailyworld.in/business/india-showsstronghiringgrowth-for-q1-2026-firmsto-invest-in-skills-tech-and-talent-report-652220.html New Delhi Dec 9 Indian employers report an extremely strong job market in India in the first quarter of 2026 with organisations increasingly willing to invest in skills technology and talent a report said on Tuesday The report by ManpowerGroup India based on a survey of 3051 employers across India during October 2025 revealed a Net Employment Outlook NEO of 52 per cent underscoring a strategic shift toward quality over volumeThe report noted that a fasterthanexpected growth rate of the Indian economy is due to a favourable monsoon that drove rural demand and lower oil prices minimal impact of the US tariffs and reforms in the banking sector which enabled easier access to foreign loans supporting company growth and job creationMeanwhile efforts have been ramped up to internalise the Indian rupee for crossborder trade aiming to decrease dependence on US dollars which will ultimately benefit the economy in the long termGiven these metrics Indian employersâ hiring sentiment looks optimistic for the near term stated the reportâIndiaâs hiring outlook is not just strong it is signaling a new phase of economic confidence and capabilitybuilding What these trends truly reflect is Indiaâs transition from volumeled hiring to value creation organisations are investing in the skills technologies and talent architectures that will define their competitiveness over the next decadeâ said Sandeep Gulati Managing Director ManpowerGroup India and Middle EastThe report noted a demand in sectors such as finance professional services manufacturing and real estate indicative of âemployers actively preparing for a more digital regulated and innovationdriven economyâ Gulati saidâAs we move into 2026 India will shape its talent market around three fundamentals critical skills technological leverage and purposeful expansion said GulatiFurther the report noted that Indian employers in all nine sectors anticipate increasing staffing levels in Q1 2026A majority of employers 63 per cent anticipate an increase in hiring while 24 per cent expect to maintain current staffing levels 11 per cent anticipate a decrease and 2 per cent are unsureDespite a positive outlook over the past year hiring volumes have declinedIn Q1 2026 a typical companyâs total workforce is expected to grow by 65 workers a 60 per cent drop since we began tracking in Q2 2025 when the figure stood at 162 IANS https://dailyworld.in/business/india-showsstronghiringgrowth-for-q1-2026-firmsto-invest-in-skills-tech-and-talent-report-652220.html Tue, 09 Dec 2025 13:16:00 +0530 https://dailyworld.in/business/cement-makers-set-for-2535-pc-profit-boost-driven-by-volume-growth-premiumisation-652222.html New Delhi Dec 9 Cement manufacturersâ profitability will rise about 25 per cent to 35 per cent this fiscal year due to improved realisations driven by higher volumes and premiumisation amid steady selling prices and cost of inputs a report said on Tuesday Though the goods and services tax from 28 per cent to 18 per cent is expected to weigh on retail prices the premiumisation and higher demand will offset the pressure and improve profitability for the manufacturers the report from Crisil Intelligence saidCement volumes are seen rising 65â75 per cent yearâonâyear after a 5 per cent growth last fiscal with a moderate 5 per cent growth in the first half and a projected 8â9 per cent surge in the second half fuelled by pentup demand and better liquidityThe firm projected that average panâIndia prices will remain rangebound at Rs 354â359 per 50 kg bag based on analysis of 14 major manufacturers that account for about 85 per cent of industry revenueâThe average panâIndia cement prices saw a modest 3 per cent onâyear increase during the first halfâ Sehul Bhatt Director Crisil IntelligenceHowever we anticipate the full impact of the GST reform will be realised in the third quarter leading to a 45 per cent decline in retail prices in the second half of the fiscal Despite subdued pricing the industry is poised for higher realisations this fiscal driven by healthy volume growthâ Bhatt addedExcluding GST cement prices are expected to rise 34 per cent onyear in the coming quarter However the reduction in GST is expected to lead to a decline in overall prices it saidThe manufacturers saw a 5 per cent increase in realisations in the first half of this fiscal The momentum is expected to slow in the second half with realisations growing a modest 02 per centRaw material costs are likely to remain elevated because of higher limestone prices Crisil projected operating margins expanding to 18â20 per cent from about 16 per cent last fiscal as overall costs are expected to be stable IANS https://dailyworld.in/business/cement-makers-set-for-2535-pc-profit-boost-driven-by-volume-growth-premiumisation-652222.html Tue, 09 Dec 2025 13:19:00 +0530 https://dailyworld.in/business/dpiit-releases-draft-policy-on-ai-and-copyright-proposes-new-hybrid-licensing-model-652233.html New Delhi Dec 9 The Department for Promotion of Industry and Internal Trade DPIIT has released the first part of its working paper on how India should address copyright challenges arising from generative artificial intelligence Ministry of Commerce amp Industry said on Tuesday The paper is based on recommendations from an eightmember committee set up on April 28 to study whether current copyright laws are adequate and to suggest changes if neededThe working paper reviews several global approaches including blanket exemptions for AI training textanddatamining exceptions with or without optout options voluntary licensing systems and extended collective licensingAfter evaluating these models the committee concluded that none of them fully meet Indiaâs needs in terms of protecting creators while also supporting innovation in AIThe committee also rejected the idea of a âzeroprice licenceâ that would allow AI developers to freely use all content without compensationIt warned that such a system would hurt incentives for human creativity and could eventually lead to a decline in the production of highquality humangenerated workInstead the working paper proposes a hybrid policy model Under this model AI developers would get a blanket licence to use any lawfully accessed content for training their systems without needing individual permissions or negotiationsRoyalties would be paid only when these AI tools are commercially launched The royalty rates would be decided by a governmentappointed committee and remain open to judicial reviewA centralised system would be created to collect and distribute these royalties The committee believes this would reduce legal and administrative complexities ensure fairness for creators and make it easier for both large and small AI developers to comply with the rulesThe paper also acknowledges the contributions of Dr Raghavendra Rao whose support was key in preparing the documentCommittee members were assisted by D Sripriya Mr Kushal Wadhawan and Ms Priyanka Arora in compiling the draftWith the release of Part 1 of the working paper DPIIT has now opened the proposals for public consultationStakeholders and members of the public can submit their feedback over the next 30 days helping shape Indiaâs approach to AI and copyright in the years to come IANS https://dailyworld.in/business/dpiit-releases-draft-policy-on-ai-and-copyright-proposes-new-hybrid-licensing-model-652233.html Tue, 09 Dec 2025 13:22:00 +0530 https://dailyworld.in/business/india-must-define-its-own-development-path-resist-external-pressuresgautam-adani-652238.html New Delhi Dec 9 India must define its own development path and resist external pressures said Adani Group Chairman Gautam Adani on Tuesday Speaking at the centenary celebrations at the Indian Institute of Technology Indian School of Mines Dhanbad Adani Group Chairman said that sovereignty in the 21st century will depend on a nationâs command over its natural resources and its energy systemsâMaster the resources below our feet and master the energy that fuels our riseâ Gautam Adani said calling these the twin foundations of Indiaâs economic independenceGautam Adani urged the need to resist external pressures that seek to define its development priorities and do only what is best for IndiaâIf we do not control our own narrative our aspirations will be delegitimised and our right to improve our standard of living portrayed as a global offenceâ the Adani Group Chairman saidThe industrialist also warned of what he described as ânarrative colonisationâ arguing that the very countries responsible for historic emissions are now attempting to influence how developing nations pursue growthCiting global data Gautam Adani said India remains one of the worldâs lowest percapita emitters even as it has achieved more than 50 per cent nonfossil installed capacity ahead of scheduleThe industrialist said attempts to downgrade Indiaâs sustainability performance without accounting for percapita metrics or historical responsibility reflect biases embedded in global ESG frameworksCalling this period Indiaâs âSecond Freedom Struggleâ this time for economic and resource sovereignty Gautam Adani said mining minerals and earth sciences would define Indiaâs future capabilitiesâPeople may call mining the old economy But without it there is no new economyâGautam Adani also highlighted that the IIT Dhanbad was born from a moment of national foresight Over a century ago under British rule the Indian National Congress had recommended the establishment of an institute to build Indiaâs critical capabilities in mining and geologyThe Adani Group Chairman said this vision reflected a deep civilisational understanding that a nation cannot rise without mastering the strength of its own soil while announcing two initiatives for IIT ISM Dhanbad a yearly programme offering 50 paid internships with preplacement opportunities and the Adani 3S Mining Excellence Centre in partnership with TEXMiN featuring metaverse labs drone fleets seismic sensing systems and precision mining technologiesThe industrialist urged students to âdream fearlessly act relentlesslyâ embrace innovation and help build a confident selfreliant India by becoming âcustodians of the coreâ who build Indiaâs sovereign capabilities IANS https://dailyworld.in/business/india-must-define-its-own-development-path-resist-external-pressuresgautam-adani-652238.html Tue, 09 Dec 2025 13:26:00 +0530 https://dailyworld.in/business/production-of-heavy-engineering-equipment-other-machinery-cross-rs-569-lakh-crore-in-2024-25-652256.html New Delhi Dec 9 The production of heavy engineering equipment and various sub sectors of the capital goods sector increased from Rs 266672 crore in 202021 to Rs 569900 crore in 202425 the Parliament was informed on Tuesday Heavy electrical equipment saw a total production worth Rs 364706 crore in 202425 up from Rs 167706 crore in 202021 Minister of State for Heavy Industries Bhupathiraju Srinivasa Varma informed the Lok SabhaWhile earthmoving and mining machinery saw production worth Rs 80750 crore in 202425 up from Rs 29021 crore in 20221 printing machinery saw production of Rs 29716 crore in 202425 compared to Rs 10058 crore in 202021 he notedThe minister also said that at present there is no proposal under consideration in the Ministry of Heavy Industries for disinvestment of BHELHowever the Cabinet Committee on Economic Affairs CCEA in its meeting on October 27 2016 interalia accorded its âinprincipleâ approval on certain aspects in respect of the Central Public Sector Enterprises CPSEs under the Ministry of Heavy Industries MHIThe disinvestment of Bridge amp Roof Co India Ltd BampR units of Cement Corporation of India Ltd CCI where it is legally permissible be disinvested disinvestment by merger of Engineering Projects India Ltd EPIL with similarly placed CPSEs and expression of Interest EoI were invited in respect of BampR and EPILâHowever no bids were received Disinvestment process of units of CCI could not be started as not found fit for strategic saleâ said VarmaMeanwhile the growth rate of Indiaâs industrial production stood at 04 per cent in October this year which could be attributed to the fewer working days because of a number of festivals in the month including Dussehra Dipawali and Chhath according to a recent statement issued by the Ministry of StatisticsThe countryâs industrial growth rate based on the Index of Industrial Production IIP had accelerated to 4 per cent in September and August from a fourmonth high of 35 per cent in July which in turn had surged from 15 per cent in JuneThe manufacturing sector recorded a positive growth of 18 per cent during October compared to the same month of the previous year Within the manufacturing sector 9 out of 23 industry groups have recorded positive growth during the month IANS https://dailyworld.in/business/production-of-heavy-engineering-equipment-other-machinery-cross-rs-569-lakh-crore-in-2024-25-652256.html Tue, 09 Dec 2025 14:17:00 +0530 https://dailyworld.in/business/centre-hands-over-955-lakh-houses-to-poor-under-pm-awas-yojna-652259.html New Delhi Dec 9 The Centre has already handed over as many as 9554 lakh houses to beneficiaries under two schemes of Pradhan Mantri Awas Yojana Minister of Housing and Urban Affairs Manohar Lal has informed Parliament Replying to supplementaries in the Rajya Sabha during question hour the minister said that a 2020 slum survey showed that 65 crore people comprising 139 crore households were living in slums across the countryHe explained that land and colonisation are State subjects and policies and programmes related to slum rehabilitation rest with respective states and Union Territories Hence data related to slum rehabilitation or relocation is not maintained by the ministryHowever in the National Capital Territory of Delhi NCTD the slum rehabilitation and demolitions are done by various land owning agencies like Delhi Development Authority DDA Delhi Urban Shelter Improvement Board DUSIB etc under the provisions of various applicable ActsAs part of its Slum Rehabilitation programme DDA has carried out demolition after properly rehabilitating eligible slum dwellers It involves a total of 5158 households out of which a total of 3414 were found eligible for alternative rehabilitation as per the DUSIB policy the minister said in a written reply to a questionThe eligible dwellers have been provided with alternative rehabilitation with all modern facilities Implementing agencies execute slum rehabilitation projects based on their own land management policies and the slum rehabilitation policy of States and UTsDuring the slum rehabilitation and resettlement land owning agencies and implementing agencies and affected families may also seek assistance under the Pradhan Mantri Awas Yojana â Urban PMAYU and PMAYU 20 if beneficiaries are otherwise eligible the minister pointed outMinistry of Housing and Urban Affairs MoHUA is supplementing the efforts of States and UTs by providing central assistance under PMAYU since June 25 2015 for the construction of houses for eligible families including slum dwellers he addedFurther based on the learnings from the experiences of implementation of PMAYU MoHUA has revamped the scheme and launched PMAYU 20 Housing for All Mission with effect from September 1 2024 to support 1 crore additional eligible beneficiaries in urban areas PMAYU 20 is implemented through four verticals ie Beneficiary Led Construction Affordable Housing in Partnership Affordable Rental Housing and Interest Subsidy Scheme he saidUnder PMAYU and PMAYU 20 a total of Rs 205 lakh crore has been sanctioned as Central Assistance of which Rs 175 lakh crore has been released to States and UTs and Rs 165 lakh crore has been utilised by them Although slum dwellers have received benefits under all verticals of PMAYU Rs 1800 crore Central Assistance has been specifically released under InSitu Slum Redevelopment vertical the minister added IANS https://dailyworld.in/business/centre-hands-over-955-lakh-houses-to-poor-under-pm-awas-yojna-652259.html Tue, 09 Dec 2025 14:25:00 +0530 https://dailyworld.in/business/adani-group-to-invest-over-75-bn-in-energy-transition-space-over-next-five-years-652261.html New Delhi Dec 9 Adani Group will invest over 75 billion in energy transition space over the next five years said Chairman Gautam Adani on Tuesday At the 100th anniversary of the Indian Institute of Technology Indian School of Mines Dhanbad the businessman noted that Adani Group has invested to become one of the worlds fastestgrowing renewable energy companiesGautam Adani shared that the global green energy transition is emerging as the largest industry of our time worth several trillion dollars over the coming decadesIt will fuel the rise of electricitybased manufacturing green steel green fertilisers hydrogen ecosystems and the critical infrastructure that AI and digital economies depend on said Gautam AdaniAdani Group is investing over 75 billion in the space of energy transition over the next five years the Chairman addedFurther Gautam Adani also called out a âweaponised narrativeâ at the recent COP30 in Brazil where a report downgraded Indiaâs sustainability ranking The report argued that India lacks a coalexit timeline and continues to auction coal blocksIndias per capita carbon dioxide CO2 emissions are among the lowest in the world and the country is driving the fastest energy transition in human history the Adani Group Chairman saidâBharat did not heat this planet Yet much of the developed world now expects Bharat to cool the earthâ Gautam Adani said while sharing the number that defined Indiaâs sustainability progressThe Adani Group Chairman citing that more than 50 per cent of Indiaâs installed electricity generation capacity came from nonfossil sources hit an important globally agreed number a full five years before its targetSimilarly under the Paris Agreement adopted in 2015 signed by 195 countries no other major nation has been able to change its energy mix in such a dramatic fashion as India could the industrialist saidBharat with one of the lowest CO2 emissions per capita is also driving the fastest energy transition in human history Gautam Adani saidBased on his own experiences and reflections the industrialist also shared personal advice to the students that success is never granted It is mined It is extractedGautam Adani urged the students to become Bharats freedom fighters and help the country achieve economic and resource independenceYou my young friends are the next generation of Bharats freedom fighters And in this struggle â You are not just extracting resources you are extracting sovereignty You are not just mining minerals you are mining dignity the Adani Group Chairman said IANS https://dailyworld.in/business/adani-group-to-invest-over-75-bn-in-energy-transition-space-over-next-five-years-652261.html Tue, 09 Dec 2025 14:26:00 +0530 https://dailyworld.in/business/indias-gdp-growth-outperforms-expectations-led-by-strong-consumption-capital-formation-652010.html New Delhi Dec 8 Indiaâs economy outperformed expectations in Q2 FY26 as income tax cuts GST rationalisation an early festive season and easing inflation supported the acceleration of private final consumption expenditure PFCE to 79 per cent in the quarter a report said on Monday Despite some moderation gross fixed capital formation grew at an encouraging rate of 73 per cent in Q2 supported by public capital expenditure said the report from CareEdge RatingsIt forecasted that growth momentum is expected to moderate to roughly 7 per cent in the second half of FY26 after averaging at about 8 per cent in the first half estimating FY26 GDP growth at 75 per centThe low base of the previous year and the low deflator also pushed up the GDP growth rate the report saidRegarding the global economy the agency said that global deflationary trends have created monetary space for rate cuts in most advanced and emerging economiesThe policy rates were increased in Japan and Brazil to combat higher inflation Meanwhile policy rates were cut in the UK and the US despite inflationary pressure in the respective countries to support growth the report saidThe Dollar Index DXY weakened due to a mix of factors including heightened uncertainty around US trade policy rising fiscal concerns and growing expectations of Fed rate cutsFurther structural shifts such as increased global central banks demand for gold also added downward pressure on the dollar it notedConsequently several major currencies strengthened YTD against the dollar supported by lower US yields and investors diversifying into nonUSD assetsThe central banks policy was dovish as it lowered inflation forecasts for FY26 and the first half of FY27 by 60 bps and 50 bps respectively and raised its GDP projection for FY26 to 73 per centA report earlier this month projected emerging markets to be the primary engine of global economic growth in 2026 contributing about twothirds of global GDP growth Emerging markets are expected to grow at 44 per cent versus 15 per cent for advanced economies IANS https://dailyworld.in/business/indias-gdp-growth-outperforms-expectations-led-by-strong-consumption-capital-formation-652010.html Tue, 09 Dec 2025 00:03:00 +0530 https://dailyworld.in/business/sensex-nifty-witness-sharp-decline-ahead-of-us-fed-policy-decision-652012.html Mumbai Dec 8 Indian equity indices fell sharply on Monday amid broadbased selling as investors turned cautious ahead of the US Fed policy decision this week Persistent selling from FIIs also dragged the market sentiment Sensex ended the session at 8510269 down 60968 points or 071 per cent The 30share index started lower at 8562484 against last sessions closing of 8562484 The index extended the loss further amid overall selling to touch an intraday low at 8487559Nifty closed 2596055 down 22590 points or 086 per centThe market experienced a broadbased decline slipping below the 26000 mark as investors turned cautious ahead of this weekâs US Fed policy decision Despite robust domestic growth figures and the RBIâs recent rate cut shortterm sentiment remains overshadowed by global monetary policy concerns persistent FII outflows and currency depreciation said Vinod Nair Head of Research Geojit Investments LimitedVolatility was further amplified by a surge in Japanese bond yields to multiyear highs sparking fears of a potential unwinding of the yen carry trade he addedEternal Trent Tata Steel Bajaj Finance Bajaj FinServ PowerGrid Asian Paint Tata Motors PV Titan NTPC Kotak Bank LampT Bharti Airtel Mahindra and Mahindra Axis Bank Hindustan Unilever Sun Pharma Ultratech Cement ITC Maruti Suzuki and Infosys were among the losers from the Sensex basket Tech Mahindra settled in positive territoryThe majority of sectoral indices traded lower amid overall selling Nifty Fin Services fell 194 points or 070 per cent Nifty Bank slipped 538 points or 090 per cent Nifty Auto dipped 342 points or 123 per cent Nifty FMCG traded 662 points or 120 per cent lower and Nifty IT closed 112 points or 029 per cent lowerBroader indices followed suit as well Nifty Smallcap 100 fell 456 points or 261 per cent and Nifty Midcap100 ended 1106 points or 183per cent lower and Nifty 100 dipped 281 points or 105 per centThe rupee slipped by 13 paise to 9006 against the dollar as prolonged FII selling weak equity markets and the lack of clarity on the IndiaâUS trade deal continued to weigh on sentimentWith the Fed policy outcome and India CPI data lined up this week volatility is likely to remain elevated The rupee is expected to trade in a weak range of 8975â9030 said analysts IANS https://dailyworld.in/business/sensex-nifty-witness-sharp-decline-ahead-of-us-fed-policy-decision-652012.html Tue, 09 Dec 2025 00:03:00 +0530 https://dailyworld.in/business/reinvigorating-indias-ghost-shopping-centres-can-unlock-rs-357-crore-in-annual-rentals-652268.html New Delhi Dec 9 Nearly onefifth of Indiaâs operational shopping centres fall into the category of ghost malls and reinvigorating just 15 such centres with 48 million square feet space can unlock Rs 357 crore in annual rentals a report said on Tuesday These ghost malls are assets marked by high vacancies weak tenant curation ageing infrastructure and declining relevanceAcross 365 shopping centres 74 have been classified as ghost assets representing 155 mn sq ft of dormant retail potentialWithin this pool 15 centres with a combined area of 48 mn sq ft have been identified as highpotential assets that could deliver as much as Rs 357 crore in annual rental revenues if reinvigorated effectively Knight Frank India said in its recent report surveying retail real estate across 32 cities in the nationAccording to the report of the 15 shortlisted assets with clear reinvigoration potential tier 1 cities hold an opportunity of Rs 236 crore in annual rentals while tier 2 cities add another Rs 121 crore to the reinvigoration landscapeIndiaâs retail sector is entering a defining phase of growth supported by strong consumption and a clear shift toward highquality organised retail formats said Shishir Baijal Chairman and Managing Director Knight Frank IndiaOur analysis shows that reinvigorating 48 mn sq ft of dormant mall stock could unlock Rs 357 crore in annual rentals which is a substantial opportunity for developers and investors With Grade A malls operating at only 57 per cent vacancy and several tier 2 cities demonstrating strong absorption trends the sector is exceptionally well placed for future expansion he addedThe study revealed that the ghost mall challenge is not confined to smaller cities or emerging markets Tier 1 cities account for 119 mn sq ft of this dormant stock Tier 2 cities contribute the remaining 36 mn sq ftHowever Tier 1 cities are beginning to see a decline in ghost shopping centres as redevelopment new ownership models design upgrades and alternateuse conversions bring ageing assets back to lifeWith rising flexible workspace demand and evolving retail formats dormant centres are finding renewed relevance While Grade A malls continue to outperform and lowergrade assets struggle tightening quality supply is shifting attention to these revitaliseable centres the report highlightedTier 1 cities account for 73 per cent of Indiaâs shopping centre stock but several tier 2 cities such as Mysuru Vijayawada Vadodara Thiruvananthapuram and Visakhapatnam have performed remarkably with nearfull occupancy and balanced tenant mixes highlighting a growing appetite for organised retail beyond metros IANS https://dailyworld.in/business/reinvigorating-indias-ghost-shopping-centres-can-unlock-rs-357-crore-in-annual-rentals-652268.html Tue, 09 Dec 2025 14:48:00 +0530 https://dailyworld.in/business/india-buys-fuel-where-it-is-profitable-reaffirms-putins-top-aide-652014.html Moscow Dec 8 Dmitry Peskov the Press Secretary of Russian President Vladimir Putin on Monday said that India is purchasing energy resources where it deems them advantageous This policy he told the media in Moscow will continue following Putins State Visit to India last week India being and remaining a sovereign state carries out foreign trade operations and purchases energy resources where it is beneficial for India Peskov was quoted as saying by Russias Tass news agency during a regular media briefing during which he also termed Putins India visit as a very successful oneAnd as far as we understand our Indian partners will continue this policy to ensure their economic interests he concluded while answering a question about whether New Delhi would continue to purchase fuel from Moscow Tass reportedOn Friday after concluding his talks with Prime Minister Narendra Modi in New Delhi Putin stated that Russia remains a reliable supplier of energy resources to India and will ensure uninterrupted fuel supplies for the rapidly growing Indian economyHe also thanked PM Modi for the warm and cordial welcome extended to the visiting delegation asserting that he has established a close working and personal contact with the Indian PM and together they constantly monitor the development of RussianIndian cooperation in all its strategic areasI am pleased to note that countries are consistently transitioning to national currencies in mutual settlements Their share in commercial transactions now stands at 96 per cent Sustainable channels for interbank credit and financial cooperation have been established Russian economic operators are expanding the use of Indian rupees earned through export contractsLarge joint projects are financed in Russian rubles Our energy partnership is developing successfully Russia is a reliable supplier of energy resources and everything necessary for Indias energy sector development We are ready to continue to ensure uninterrupted fuel supplies for the rapidly growing Indian economy the Russian President mentioned after holding extensive talks with PM Modi at the Hyderabad House during the 23rd IndiaRussia Annual SummitIn their meeting both leaders discussed all aspects of IndiaRussia relations which remain deeprooted and multifaceted They also reaffirmed mutual commitment to further strengthen the Special and Privileged Strategic Partnership between India and Russia besides also discussing regional and global issues of mutual interestPutin mentioned that both sides deeply and thoroughly examined the entire range of current issues of RussianIndian multifaceted cooperation and exchanged views on pressing global and regional issuesThe joint statement we adopted with Mr Modi outlined priority objectives for further strengthening ties in politics and security economics trade humanitarian affairs and culture As you have seen a substantial package of intergovernmental interdepartmental and corporate agreements was also signed he saidThe leaders witnessed exchange of several documents including Memorandum of Understanding MoUs on Trade and Commerce Migration and Mobility Maritime Cooperation Health and Food Safety Fertilizers Academic Exchanges Media Cooperation and enhancing PeopletoPeople ties IANS https://dailyworld.in/business/india-buys-fuel-where-it-is-profitable-reaffirms-putins-top-aide-652014.html Tue, 09 Dec 2025 00:04:00 +0530 https://dailyworld.in/business/dgcas-tariff-monitoring-unit-keeping-airfares-on-78-routes-in-check-minister-652015.html New Delhi Dec 8 The Directorate General of Civil Aviation DGCA has set up Tariff Monitoring Unit TMU that monitors airfares on selected 78 routes on a random basis by using airlines websites on monthly basis to ensure that the airlines do not charge airfares outside the range declared by them the Parliament was informed on Monday This covers about 27 per cent of the domestic traffic By doing so the TMU plays a critical role in maintaining airfare levels within the boundaries of the airlines prescribed tariffsDGCA ensures that the airfare charged by the airlines remain within the boundaries of the established tariff sheets However in exceptional circumstances of nonadherence to Sub Rule 2 of Rule 135 of The Aircraft Rules 1937 necessary directions are being issued to all concerned airlines said Murlidhar Mohol Minister of State for Civil Aviation in the Rajya SabhaAirfares are not subject to regulation by the government and airlines have the flexibility to determine their airfares based on their operational needs while adhering to Rule 135 of the Aircraft Rules 1937The pricing of airfares is subject to dynamic fluctuations influenced by the fundamental economic forces of supply and demand Various determinants such as current seat occupancy fuel costs aircraft capacity seasonal fluctuations and other relevant factors significantly impact airline ticket pricingâFurther the government proactively engages with scheduled airlines and advises them to augment capacity by deploying additional flights during festival seasons or during events causing surge in demandIn October 2025 to meet high festive demand airlines responded by augmenting flight capacities by announcing 1750 additional flights across 100 sectors As a result of capacity increase a general moderation in fares was observed across most of the sectors informed the ministerWhile the government generally refrains from regulating airfares to maintain market competitiveness however it remains vigilant oversight role intervening in exceptional circumstances such as during the pandemic Maha Kumbh festival and Pahalgam terror attack in order to ensure air travel affordable for passengers said the minister IANS https://dailyworld.in/business/dgcas-tariff-monitoring-unit-keeping-airfares-on-78-routes-in-check-minister-652015.html Tue, 09 Dec 2025 00:05:00 +0530 https://dailyworld.in/business/india-records-highest-ever-exports-in-h1-fy26-652273.html New Delhi Dec 9 Indiaâs export sector has delivered a powerful message of resilience and global competitiveness in FY 2025â26 even as global markets face persistent uncertainty as the country recorded its highestever quarterly exports in both Q1 and Q2 of the financial year the Parliament was informed on Tuesday Overall exports in the first half of FY 2025â26 covering April to September 2025 reached 4186 billion rising from 3957 billion in the same period last year Minister of State for Commerce and Industry Ministry Jitin Prasada said in a written reply to Lok SabhaThis reflects a growth of 58 per cent marking the strongest halfyear export performance ever for IndiaThe ministry said that Indiaâs export momentum remains stable despite a temporary dip in October 2025Exports in that month were marginally lower due to a very high base in October 2024 which had been the best October export performance on recordThe minister asserted that Indiaâs export strategy is built on credibility resilience and active global engagementHe said that highlevel visits and negotiations with partner countries continue to strengthen economic ties and produce longterm outcomes even if shortterm fluctuations occurâIndiaâs export ecosystem has benefitted from structural reforms improvement in logistics expansion of port capacity and targeted export facilitation measuresâ Prasada saidâProductionLinked Incentive schemes have helped boost manufacturing competitiveness while services exports remain a strong pillar of the external sectorâ he addedOn trade agreements the Government informed Parliament that five major Free Trade Agreements FTAs have been signed in the last five yearsThese include agreements with Mauritius the UAE Australia the European Free Trade Association EFTA and the IndiaâUK trade pact which will come into force after ratificationThe Ministry added that such agreements involve continuous negotiations and reciprocal visits which help build trust and deepen economic cooperation IANS https://dailyworld.in/business/india-records-highest-ever-exports-in-h1-fy26-652273.html Tue, 09 Dec 2025 15:11:00 +0530 https://dailyworld.in/business/cost-of-home-cooked-veg-non-veg-thalis-falls-13-pc-in-november-due-to-ease-in-input-prices-652019.html New Delhi Dec 8 The cost of preparing both vegetarian and nonâvegetarian thalis at home fell 13 per cent yearâonâyear in November driven mainly by declines in vegetable and pulse prices a report said on Monday The report from Crisil Intelligence said that tomato prices declined 17 per cent onyear due to higher supplies while potato prices were down 29 per cent on a high baseOnion prices plunged 53 per cent owing to larger rabi stocks from previous seasons and subdued exportsPrice of pulses declined 17 per cent amid increased stocks and heavy imports of Bengal gram yellow pea and black gram the report saidOn a monthly basis however the cost of a vegetarian thali rose 2 per cent while that of a nonvegetarian thali dipped 1 per cent in November it saidâOver the medium term onion prices are expected to firm up because of delayed kharif harvesting and lower yields Potato prices however are likely to moderate further as coldstorage stocks are released into the market said Pushan Sharma Director Crisil IntelligenceThe firm forecasted that prices of pulses are expected to remain rangebound in the near term due to the 30 per cent import duty on yellow pea Further unrestricted imports of black gram which limit steep price increases will also keep the price of pulses rangebound Sharma saidAny additional policy intervention such as extending or raising import duties could exert more upward pressure on the prices of pulses he addedVegetable oil prices surged 6 per cent onyear due to higher demand during the festival season Additionally a 6 per cent onyear increase in prices of liquefied petroleum gas cylinders limited the decline in the overall cost of thalisThe cost of a nonvegetarian thali fell due to a 12 per cent onyear drop in broiler prices which account for 50 per cent of the costThe average cost of preparing a thali at home is calculated based on input prices prevailing in North South East and West India The monthly change reflects the impact on the common manâs expenditure the report noted IANS https://dailyworld.in/business/cost-of-home-cooked-veg-non-veg-thalis-falls-13-pc-in-november-due-to-ease-in-input-prices-652019.html Tue, 09 Dec 2025 00:07:00 +0530 https://dailyworld.in/business/india-records-highest-ever-exports-in-h1-fy26-652276.html New Delhi Dec 9 Indiaâs export sector has delivered a powerful message of resilience and global competitiveness in FY 2025â26 even as global markets face persistent uncertainty as the country recorded its highestever quarterly exports in both Q1 and Q2 of the financial year the Parliament was informed on Tuesday Overall exports in the first half of FY 2025â26 covering April to September 2025 reached 4186 billion rising from 3957 billion in the same period last year Minister of State for Commerce and Industry Ministry Jitin Prasada said in a written reply to Lok SabhaThis reflects a growth of 58 per cent marking the strongest halfyear export performance ever for IndiaThe ministry said that Indiaâs export momentum remains stable despite a temporary dip in October 2025Exports in that month were marginally lower due to a very high base in October 2024 which had been the best October export performance on recordThe minister asserted that Indiaâs export strategy is built on credibility resilience and active global engagementHe said that highlevel visits and negotiations with partner countries continue to strengthen economic ties and produce longterm outcomes even if shortterm fluctuations occurâIndiaâs export ecosystem has benefitted from structural reforms improvement in logistics expansion of port capacity and targeted export facilitation measuresâ Prasada saidâProductionLinked Incentive schemes have helped boost manufacturing competitiveness while services exports remain a strong pillar of the external sectorâ he addedOn trade agreements the Government informed Parliament that five major Free Trade Agreements FTAs have been signed in the last five yearsThese include agreements with Mauritius the UAE Australia the European Free Trade Association EFTA and the IndiaâUK trade pact which will come into force after ratificationThe Ministry added that such agreements involve continuous negotiations and reciprocal visits which help build trust and deepen economic cooperation IANS https://dailyworld.in/business/india-records-highest-ever-exports-in-h1-fy26-652276.html Tue, 09 Dec 2025 15:13:00 +0530 https://dailyworld.in/business/dgca-takes-actions-against-airlines-in-2025-over-19-safety-violations-to-date-652025.html New Delhi Dec 8 Indiaâs aviation regulator has taken action against 19 safetyrelated violations by airlines so far in 2025 the Parliament was informed on Monday In a written reply to Rajya Sabha Minister of State for Civil Aviation Murlidhar Mohol shared detailed data on airline noncompliance safety budgets and staffing gaps across key aviation bodies in response to a question raised in the Lok SabhaMohol said the Directorate General of Civil Aviation DGCA has stepped up enforcement over the past five yearsThe number of actions taken against scheduled airlines has risen steadily from just two in 2021 to seven in 2022 ten in 2023 and twentytwo in 2024 before reaching nineteen so far this yearThese actions include financial penalties suspensions of approvals or authorisations and official warningsThe violations recorded by the regulator cover a wide range of safety lapses These include noncompliance with breath analyser rules for crew failures in flight data monitoring unauthorised cockpit access and poor quality assurance auditsOther breaches involved misuse of flight simulators without DGCA approval deploying crew without mandatory training and violating Flight Duty Time LimitationsMaintenancerelated shortcomings were also reported such as failure to follow proper procedures deficiencies found during spot checks and even cases where aircraft were flown with expired emergency equipmentThe Minister said the Government has been allocating funds to strengthen DGCAâs safety and regulatory oversight with the yearly budget details provided in an annexure to ParliamentHe also revealed the current vacancy status across four major aviation bodies the DGCA the Airports Authority of India AAI the Bureau of Civil Aviation Security BCAS and the cadre of Air Traffic ControllersThe sanctioned posts and vacancies for each organisation were shared to highlight manpower gaps impacting safety and regulatory functions IANS https://dailyworld.in/business/dgca-takes-actions-against-airlines-in-2025-over-19-safety-violations-to-date-652025.html Tue, 09 Dec 2025 00:10:00 +0530 https://dailyworld.in/business/starlink-fixes-rs-8-600-monthly-tariff-in-india-promises-999-pc-service-uptime-652026.html New Delhi Dec 8 Elon Muskâs Starlink has inched closer to its longawaited commercial debut in India with the company displaying complete residential pricing on its local website The satellitebased internet service is priced at Rs 8600 per month and new subscribers have to purchase a hardware kit for Rs 34000The residential plan is designed to help users assess service quality in their area before committing to it longterm with unlimited data and a 30day trial periodStarlink emphasises features like plugandplay installation more than 999 per cent uptime extreme weather resistance and no data caps for its push to reach those consumers in regions where terrestrial broadband remains unreliableWhile the residential package is now publicly detailed the company has yet to make an announcement on how much pricing will be for its businesstier offerings Starlink is expected to unveil its full commercial plans once ongoing consultations with government authorities progress furtherRecent hiring activity by the company hints at a rampup in operations in preparation for launch At the end of October SpaceX opened four Bengalurubased positions Payments Manager Accounting Manager Senior Treasury Analyst and Tax Manager describing recruitment as part of a wider international expansion strategyEarlier the Maharashtra government signed a Letter of Intent LoI with Starlink Satellite Communications Private Limited to formally collaborate with Starlink to deploy satellitebased internet services for government institutions rural communities and critical public infrastructure across remote and underserved regions and aspirational districts in Maharashtra such as Gadchiroli Nandurbar Dharashiv and WashimThe LoI signing was done in the presence of Chief Minister Devendra Fadnavis and state Information Technology Minister Ashish ShelarIt was wonderful to welcome Lauren Dreyer Vice President Starlink in Mumbai where the Government of Maharashtra signed an LoI with Starlink Satellite Communications Private Limited marking Maharashtra as the first Indian state to formally collaborate with Starlink Elon Musks Starlink is one of the largest companies in the ICT industry holding the largest number of communication satellites in the world It is our honour that the company is arriving in India and partnering with Maharashtra CM Fadnavis had posted on his official X handle IANS https://dailyworld.in/business/starlink-fixes-rs-8-600-monthly-tariff-in-india-promises-999-pc-service-uptime-652026.html Tue, 09 Dec 2025 00:10:00 +0530 https://dailyworld.in/business/indigo-flights-may-continue-to-experience-delays-delhi-airport-651837.html New Delhi Dec 8 Delhi Airport on Monday issued a passenger advisory stating that IndiGo flights may continue to face delays In a post on social media platform X the airport said âIndiGo flights may continue to experience delays Passengers are advised to check the latest flight status with their airline before heading to the airport to avoid any inconvenienceThe airport further added that its teams are working closely with all stakeholders to minimise disruptions and ensure a smooth travel experienceOur teams are working closely with all stakeholders to minimise disruptions and ensure a smooth travel experience For assistance including medical support please visit the information desk where our onground staff is ready to help Delhi Airport saidThe advisory mentioned that multiple public transport options including metro buses and cabs are available for convenient travel to and from the airportAdditionally multiple public transport options such as metro buses and cabs are available for convenient travel to and from the airport For realtime updates and important information please visit our official website wwwnewdelhiairportin it addedMeanwhile IndiGo has so far processed refunds totalling Rs 610 crore after the government issued strict directives to the airline requiring that all refunds to passengers for cancelled or severely delayed flights be completed by 8 pm on Sunday the Ministry of Civil Aviation had said earlierNo additional fees are permitted for rescheduling travel impacted by cancellations an official statement said Dedicated support cells have been created to proactively assist passengers so that refund and rebooking issues are resolved without delay or inconvenience it addedThe ministry also said that IndiGoâs performance has shown steady improvement with flight schedules moving back towards normal levelsThe ministry further stated that in light of recent cancellations leading to a shift in demand and a temporary surge in airfares the government intervened and introduced a cap on airfares with immediate effect This measure ensures fairness and affordability for travellers Since the implementation of this order fare levels across affected routes have moderated to acceptable limits All airlines have been instructed to comply strictly with the revised fare structureIndiGo was also instructed to trace and deliver all baggage separated from passengers due to disruptions within 48 hours Continuous communication is mandated throughout the process With this push IndiGo has successfully delivered 3000 pieces of baggage to passengers across India as of Saturday IANS https://dailyworld.in/business/indigo-flights-may-continue-to-experience-delays-delhi-airport-651837.html Mon, 08 Dec 2025 09:15:00 +0530 https://dailyworld.in/business/4-out-of-10-s-korean-conglomerates-yet-to-establish-investment-plans-for-2026-651854.html Seoul Dec 8 Four out of 10 South Korean conglomerates have not yet established their investment plans for 2026 amid growing uncertainties in the business environment an industry survey showed on Monday The Federation of Korean Industries FKI a major South Korean business lobby recently commissioned pollster Mono Research to survey the countrys top 500 companies by sales on their investment plans for next year reports Yonhap news agencyOf the 110 companies that responded 436 per cent said they have not yet drawn up investment plans for 2026 while 155 per cent said they have no investment plans at all Only 409 per cent said they had finalized their plans the FKI said in a press releaseCompanies that have not set their 2026 investment plans cited business reorganization the need to assess internal and external risks and uncertain economic prospects at home and abroad as key reasons for the delay the FKI saidMore than half of the companies that have finalized their plans said they will invest at levels similar to those of this yearSurvey results also indicated that unfavorable business conditions including persistent trade risks and the wons weakness against the US dollar have increased the investment burden for many companiesMeanwhile 364 percent of respondents said they have established or are considering investment plans related to artificial intelligence AIWhen asked about major challenges for next year companies pointed to the expansion of protectionist measures such as tariffs and growing supply chain instability economic slowdowns in major countries including the United States and China and the strong dollarMeanwhile South Korean shares narrowed losses late Monday morning but continued to trade lower as investors took a waitandsee approach on a possible rate cut by the US Federal Reserve this weekThe benchmark Korea Composite Stock Price Index KOSPI fell 154 points or 004 per cent to 409851 as of 1120 amThe twoday Federal Open Market Committee meeting is set to kick off on Tuesday US time with market watchers widely anticipating a 025 percentage point cut IANS https://dailyworld.in/business/4-out-of-10-s-korean-conglomerates-yet-to-establish-investment-plans-for-2026-651854.html Mon, 08 Dec 2025 13:09:00 +0530 https://dailyworld.in/business/hyundai-mobis-expands-research-centre-in-india-amid-growing-local-demand-651857.html Seoul Dec 8 Hyundai Mobis South Koreas largest auto parts maker said on Monday it has established an additional research and development RampD centre in India to meet growing demand from global carmakers for core component development Hyundai Mobis will operate the new centre located in Bengaluru as a specialised software RampD branch complementing its existing RampD facility launched earlier this year as part of a dualtrack strategy tailored to local market needs the company said in a press release reports Yonhap news agencyThe Indian automotive market is shifting from compact vehicles to mid to largesized models With the wider adoption of highend electronic components such as advanced driver assistance systems ADAS demand for advanced auto parts has risen significantly it saidThe existing integrated RampD hub in Hyderabad will continue to serve as our local RampD headquarters focusing on software strategy and application development The second branch will handle areas closely connected to hardware including frameworks that serve as the foundation for software functionality the company saidIn India Hyundai Mobis manufactures modules and key components at its two plants in Chennai and Anantapur while its Gurugram parts facility ensures a stable supply of aftersales service partsThe company aims to increase the value of orders from global customers in India sixfold by 2028 compared with 2025 though it did not disclose the specific figuresHyundai Mobis is targeting US744 billion in global orders this year up sharply from 256 billion last year backed by strong demand for high valueadded electric vehicle EV components according to the reportHyundai Mobis currently derives 90 percent of its overall parts sales from the two affiliated carmakers It aims to increase the share of overseas parts sales from 10 per cent to 40 per cent by 2033 IANS https://dailyworld.in/business/hyundai-mobis-expands-research-centre-in-india-amid-growing-local-demand-651857.html Mon, 08 Dec 2025 13:11:00 +0530 https://dailyworld.in/business/sensex-nifty-open-lower-amid-lack-of-domestic-triggers-651858.html Mumbai Dec 8 Indian stock markets started the week on a weak note on Monday as benchmark indices opened lower in the absence of strong domestic cues The Sensex slipped by 93 points or 011 per cent to trade around 85619 The Nifty also drifted lower and was seen at 26137 down 50 points or 019 per centAnalysts said that Nifty is expected to trade within a defined range today with nearterm resistance placed around 2630026350 where profitbooking may emergeâOn the downside support is seen around 2600026050 a zone that has held firm through recent consolidationâ experts saidSeveral heavyweight stocks dragged the indices in early trade Shares of Bajaj Finance BEL NTPC Asian Paints Power Grid Trent Sun Pharma and ICICI Bank were among the biggest losers on the SensexAt the same time some major technology and auto names helped limit the downside Eternal Tech Mahindra TCS Tata Motors PV Infosys HCL Tech and Tata Steel were the top gainersThe broader market also showed signs of pressure The Nifty MidCap index slipped 012 per cent while the Nifty SmallCap index fell more sharply declining 040 per centSectorwise real estate public sector banks and pharmaceutical stocks were under the most selling pressure with the Nifty Realty PSU Bank and Pharma indices falling between 03 per cent and 05 per centOn the other hand the Nifty IT index managed to rise 05 per cent supported by gains in large tech stocks The Nifty Metal index also inched up by 02 per centAnalysts said that the market mood remained cautious in early trading as investors awaited fresh triggers to set the direction for the dayâGiven the prevailing conditions a buyondips strategy remains appropriate Traders may consider adding long positions if Nifty pulls back toward 2600026050 or if Bank Nifty finds stability above 59400â market watchers added IANS https://dailyworld.in/business/sensex-nifty-open-lower-amid-lack-of-domestic-triggers-651858.html Mon, 08 Dec 2025 13:11:00 +0530 https://dailyworld.in/business/stalin-govt-unveils-toy-manufacturing-policy-aiming-to-become-global-hub-651862.html Chennai Dec 8 Tamil Nadu Chief Minister MK Stalin has announced the Toy Manufacturing Policy 2025 charting an ambitious roadmap to position the state as a global centre for the design development and production of nextgeneration toys Alongside largescale manufacturing the policy also seeks to revive Tamil Naduâs centuriesold artisanal toy traditions and integrate them with modern supply chains The policy takes note of the vast global toy market estimated at nearly 180 billion in 2024 while Indiaâs share remains below one per cent Officials view this gap as a significant highgrowth opportunity for Tamil Nadu To capitalise on it the state government aims to attract at least 10 anchor investors establish a dedicated Toy Manufacturing Park and promote creative design studios to drive research innovation and the creation of highskilled jobs Priority will be given to futuristic and highvalue product categories such as STEMbased educational toys electronic and interactive toys puzzles and board games action figures and plush dolls Large investments of over Rs 50 crore that generate a minimum of 500 jobs will qualify for a special incentive package This includes fixed capital subsidy land allotment concessions stamp duty exemption training subsidy support for quality certification intellectual property creation assistance and electricity tax relief Micro small and medium enterprises MSMEs entering toy manufacturing will be eligible for capital subsidies of up to Rs 15 crore along with payroll support IP creation subsidy and interest reimbursement under the MSME Policy 2021 The policy also introduces targeted incentives for manufacturers producing experiential learning toys and inclusive toys meant for children with special needs aligning social impact with global safety and accessibility standards In a boost to creativityled enterprises a 30 per cent payroll subsidy for 12 months will be offered to creative design studios set up in the state The policy will remain valid for five years and will be implemented through the Industries Department with SIPCOT acting as the nodal agency for incentive disbursal alongside separate facilitation mechanisms for MSMEs Traditional toy clusters form a core pillar of the new policy The Vilacheri clay toy hub in Vilacheri is recognised for its vibrant terracotta creations while the wooden lacquerware belt of Ambasamudram is famed for miniature instruments childrenâs walkers and kitchen playsets The iconic Thanjavur Thalayatti Bommai protected by a GI tag continues to symbolise the stateâs rich artisanal heritage now poised for a global footprint under the new policy IANS https://dailyworld.in/business/stalin-govt-unveils-toy-manufacturing-policy-aiming-to-become-global-hub-651862.html Mon, 08 Dec 2025 13:13:00 +0530 https://dailyworld.in/business/gold-silver-slip-on-mcx-as-traders-book-profits-651873.html Mumbai Dec 8 Gold and silver prices fell in early trade on the Multi Commodity Exchange MCX on Monday morning as traders booked profits after the recent rally The decline came amid weak demand in the spot market although losses were limited because the US dollar weakened and investors expect the US Federal Reserve to announce a rate cut this weekDuring early trade MCX gold February futures were trading 004 per cent lower at Rs 130409 per 10 grams MCX Gold remains within a rising channel pattern and is currently hovering around the Rs 130300âRs 130400 zone after facing rejection near Rs 132250 which now acts as the immediate resistance experts saidMCX silver March futures slipped 1 per cent to Rs 181600 per kgThe slight pullback follows strong gains in the previous session when gold futures rose 030 per cent to close at Rs 130462 per 10 grams and silver futures jumped nearly 3 per cent to settle at Rs 183408 per kg after touching a new record high of Rs 185234 during the dayPrices of precious metals remain highly volatile as investors wait for the outcome of the US Federal Open Market Committee FOMC meeting scheduled for December 10The US central bank will announce its policy decision at a time when economic indicators are sending mixed signalsThe Personal Consumption Expenditures PCE price index the Fedâs preferred inflation measure rose 03 per cent in both August and SeptemberOn a yearly basis it increased to 28 per cent in September from 27 per cent in August showing that inflation is still slightly elevatedAt the same time growing expectations of a rate cut have put pressure on the US dollar The dollar index is hovering near a sixweek low of 9876 a level last seen on December 4A weaker dollar makes gold cheaper for buyers using other currencies helping limit the downside for the yellow metalAnalysts said that gold and silver markets are likely to remain choppy until the Fed provides clarity on its interest rate path IANS https://dailyworld.in/business/gold-silver-slip-on-mcx-as-traders-book-profits-651873.html Mon, 08 Dec 2025 13:17:00 +0530 https://dailyworld.in/business/indias-auto-retail-sales-rise-2-pc-in-november-651881.html New Delhi Dec 8 Indiaâs auto retail industry recorded steady growth in November with overall vehicle sales rising 214 per cent yearonyear YoY to 3301 lakh units according to data from the Federation of Automobile Dealers Associations FADA Demand remained stable even after the festival season while price cuts following the GST 20 rollout continued to attract buyers to dealershipsPassenger vehicle sales showed positive signs supported by better model availability and strong demand for compact SUVsInventory levels for passenger vehicles improved to 44â46 days compared to 53â55 days in the previous month reflecting the pickup in customer interestMaruti Suzuki maintained its leadership with a 394 per cent market share followed by Mahindra at 137 per cent and Tata Motors at 132 per centIn contrast the twowheeler segment saw a dip with sales falling 1916 per cent on the month to 2546 lakh unitsOn a yearly basis the decline stood at 310 per cent FADA President C S Vigneshwar said the drop must be viewed in context as festive buying in October shifted demand earlierHe added that delayed crop payments and uneven supply of popular models affected performance but dealers are still witnessing strong customer walkins driven by positive sentiment around GST changes and ongoing marriage season demandNovember defied the conventional postfestive slowdown delivering a resilient performance despite an unusually high comparative base Vigneshwar statedThreewheeler sales delivered robust growth rising 3158 per cent on the month to 133 lakh unitsThe category also expanded 2367 per cent yearonyear supported mainly by increased demand for erickshaws and ecartsCommercial vehicle sales were mixed in November While the light and medium commercial vehicle segments saw notable weakness heavy commercial vehicles bucked the trend with sales climbing 328 per cent on the month to 28659 unitsAnalysts said that the industry showed resilience in November with strong performance in passenger vehicles and threewheelers helping offset the softness in twowheelers and some commercial categories IANS https://dailyworld.in/business/indias-auto-retail-sales-rise-2-pc-in-november-651881.html Mon, 08 Dec 2025 13:19:00 +0530 https://dailyworld.in/business/govts-multi-pronged-strategy-boosting-consumption-growth-fm-sitharaman-651893.html New Delhi Dec 8 IANS Finance Minister Nirmala Sitharaman informed Parliament on Monday that the government has undertaken a multipronged strategy to stimulate the growth of consumption in the economy through a combination of demandsupporting measures incomeenhancing supplyside strategies and structural reforms which in turn is driving GDP growthnbspIn a written reply to a question in the Lok Sabha she said that policy measures such as the new income tax exemption for annual incomes up to Rs 12 lakh recent GST rate cuts continued emphasis on ease of doing business skilling employment generation and infrastructure development along with expanded access to credit through schemes like MUDRA and PMSVANidhi are expected to boost consumption in the economyThe Finance Minister further stated that through various policy initiatives the government has also emphasised on achieving a balanced growth in rural and urban consumptionnbspUrban livelihood and skilling programmes alongside tax reliefs and digital payments expansion in urban centres are boosting consumption in urban areas Alongside targeted flagship programmes such as PMKISAN Mahatma Gandhi National Rural Employment Guarantee Scheme PM Awas Yojana Gramin agriproductivity missions and Self Help Groupbased livelihood initiatives are ensuring broadbased income gains across rural areasThe strengthening of consumption demand will have a positive impact on overall economic activity by supporting household incomes encouraging private investment and reinforcing economic growth Sitharaman saidnbspShe further stated that according to figures compiled by the National Statistics Office NSO the share of Private Final Consumption Expenditure in GDP has improved from 622 per cent in Q2 of 202425 to 625 per cent in Q2 of 202526 while its growth in constant price terms improved from 64 per cent to 79 per cent during the corresponding periodnbspThe data also show that the GDP at constant prices has been estimated to grow at 82 per cent in the second quarter Q2 of 202526 as against 56 per cent in Q2 of 202425 and 78 per cent in the first quarter Q1 of 202526 reflecting accelerating growth momentum in the economy Finance Minister added https://dailyworld.in/business/govts-multi-pronged-strategy-boosting-consumption-growth-fm-sitharaman-651893.html Mon, 08 Dec 2025 15:57:00 +0530 https://dailyworld.in/business/dgcas-tariff-monitoring-unit-keeping-airfares-on-78-routes-in-check-minister-651894.html New Delhi Dec 8 IANS The Directorate General of Civil Aviation DGCA has set up a Tariff Monitoring Unit TMU that monitors airfares on selected 78 routes on a random basis by using airlines websites on a monthly basis to ensure that the airlines do not charge airfares outside the range declared by them the Parliament was informed on MondaynbspThis covers about 27 per cent of the domestic traffic By doing so the TMU plays a critical role in maintaining airfare levels within the boundaries of the airlines prescribed tariffsThe DGCA ensures that the airfare charged by the airlines remains within the boundaries of the established tariff sheets However in exceptional circumstances of nonadherence to Sub Rule 2 of Rule 135 of The Aircraft Rules 1937 necessary directions are being issued to all concerned airlines Minister of State for Civil Aviation Murlidhar Mohol told the Rajya SabhanbspAirfares are not subject to regulation by the government and airlines have the flexibility to determine their airfares based on their operational needs while adhering to Rule 135 of the Aircraft Rules 1937 he saidThe pricing of airfares is subject to dynamic fluctuations influenced by the fundamental economic forces of supply and demand Various determinants such as current seat occupancy fuel costs aircraft capacity seasonal fluctuations and other relevant factors significantly impact airline ticket pricingnbspFurther the government proactively engages with scheduled airlines and advises them to augment capacity by deploying additional flights during festival seasons or during events causing a surge in demand he saidIn October 2025 to meet high festive demand airlines responded by augmenting flight capacities by announcing 1750 additional flights across 100 sectors As a result of the capacity increase a general moderation in fares was observed across most of the sectors the minister saidnbspWhile the government generally refrains from regulating airfares to maintain market competitiveness however it remains vigilant oversight role intervening in exceptional circumstances such as during the pandemic Maha Kumbh and the Pahalgam attack in order to ensure air travel is affordable for passengers said the minister https://dailyworld.in/business/dgcas-tariff-monitoring-unit-keeping-airfares-on-78-routes-in-check-minister-651894.html Mon, 08 Dec 2025 17:13:00 +0530 https://dailyworld.in/business/punjab-cm-seeks-investment-from-korean-firms--651899.html Chandigarh Dec 8 IANS Punjab Chief Minister Bhagwant Mann on Monday extended an invitation to the leading Korean firms to invest in the statenbspAt a meeting with Chairman of Daewoo EampampC Jung Won Joo during his visit to South Korea the Chief Minister batted for cooperation in the fields of renewable energy projects including offshore wind farms solar power plants and hydrogen production facilitiesnbspLikewise he said there is a huge potential for collaboration in areas like development of energy infrastructure such as LNG terminals petrochemical complexes and fertiliser plants urban development and smart city projects with integrated housing and advanced infrastructure solutions and civil infrastructure projects including roads bridges railways ports and airportsnbspCM Mann also underscored the need for strengthening cooperation in sectors like technology transfer for modular and prefabricated construction methods to enable faster and costeffective building solutionsnbspDuring the meeting with Daewoo EampampC one of South Koreas foremost engineering and infrastructure companies the Chief Minister highlighted Punjabs strong industrial momentum modern infrastructure initiatives and the unique unified regulator framework under Invest PunjabnbspnbspHe encouraged the Global Business Group to explore opportunities in largescale infrastructure development adoption of modern construction technologies and upcoming industrial townships in the statenbspCM Mann also laid stress on cooperation in ESG and green hydrogen initiatives through joint ventures aligned with global sustainability standardsnbspIn another meeting with VicePresident of GS Engineering ampamp Construction GS EampampC Young Ha Ryu Daniel the Chief Minister underscored the need for tieups in the sector of renewable energy projects infrastructure development and industrial complexes and EPC ServicesnbspHe also said there was a huge scope in the key sectors like technology transfer for modular construction and green hydrogen and clean energy initiativesnbspCM Mann assured support and cooperation in these key sectors to give impetus to the development of the statenbspAt a meeting with Nongshim Holdings a packaged foods and beverages company the Chief Minister batted for food and food processing adding that joint development of new instant noodle flavours tailored for Indian tastes should be donenbspLikewise he also sought expansion of Nongshims presence in Indian supermarkets and ecommerce platforms and collaboration on campaigns targeting healthconscious and youth segmentsnbsp https://dailyworld.in/business/punjab-cm-seeks-investment-from-korean-firms--651899.html Mon, 08 Dec 2025 20:29:00 +0530 https://dailyworld.in/business/indigo-disruptions-flight-cancellations-leave-patna-passengers-stranded-railways-steps-in-651940.html Patna Dec 8 The ongoing IndiGo operational crisis continued to disrupt air travel from Patna Airport on Monday with multiple flights cancelled leaving passengers stranded for the seventh consecutive day On Sunday many travellers missed job interviews and important engagements while others were forced to wait at the airport for hours A total of 10 IndiGo flights to Chennai Bengaluru Delhi Ahmedabad Kolkata and other destinations were cancelledSeveral arrival and departure flights also experienced delays of up to 30 minutesAccording to airport officials five IndiGo flights scheduled to depart on Monday to cities including Delhi Bengaluru Chennai and Kolkata have also been cancelled Passengers affected by cancellations or delays are being contacted individuallyAs a result the footfall at IndiGo ticket counters on Sunday was noticeably lower than usual Many passengers claimed their flight tickets were renewed twice or thrice but they were unable to travel to their desired destinations due to cancellationsAirline officials have stated that operations are expected to return to normal by December 15 A help desk has also been set up at the airport and a dedicated helpline 9771449159 has been issued for travellersIn response to the ongoing disruption the East Central Railway has stepped in to assist stranded passengers A special train is being operated from Patna and an additional passenger coach has been attached to both the Sampoorna Kranti Express and the Tejas Rajdhani Express starting SundayDanapur Division Senior DCM Abhinav Siddhartha said that a special train from Patna to Anand Vihar Terminal has been arranged On Monday the 02309 PatnaAnand Vihar Terminal Special will depart Patna at 830 pm and reach Anand Vihar Terminal at 300 pm the following dayAdditionally an extra Third AC coach will be added to the Tejas Rajdhani and a Second AC coach to the Sampoorna Kranti Express increasing the number of coaches on both trains from 22 to 23 IANS https://dailyworld.in/business/indigo-disruptions-flight-cancellations-leave-patna-passengers-stranded-railways-steps-in-651940.html Mon, 08 Dec 2025 23:41:00 +0530 https://dailyworld.in/business/market-outlook-improving-on-strong-growth-policy-support-sbi-funds-651943.html Mumbai Dec 8 Indiaâs market outlook is turning increasingly constructive as resilient GDP growth improving earnings expectations and supportive monetary policy begin to lift investor sentiment a new report said on Monday The data compiled by SBI Funds Management noted that while nearterm challenges persist the overall environment for equities is gradually strengthening setting the stage for a measured but steady improvement aheadAccording to SBI Funds Indiaâs real GDP growth remains well above forecasts with the economy expanding 78 per cent in Q1 FY26 and 82 per cent in Q2 FY26Equity markets posted healthy gains in November with the Nifty rising 2 per cent and the Sensex climbing 22 per cent the report authored by Rajeev Radhakrishnan CFA CIO â Fixed Income and Gaurav Mehta CFA Head â SIF Equity saidSBI Funds highlighted that large caps continued to outperform midcap and smallcap stocks indicating a narrowing market breadthIn the BSE 500 universe nearly twothirds of stocks underperformed the index on a rolling 12month basis The fund house expects this polarization to persist as large caps are still more reasonably valued than the broader marketCorporate earnings in the recent quarter were weak but broadly in line with expectations Profits rose in sectors such as metals NBFCs capital goods cement and telecom but private banks oil and gas excluding OMCs automobiles consumer companies and insurers reported softer resultsEncouragingly SBI Funds noted that earnings expectations have begun to stabilise The number of upgrades is now close to matching downgrades a positive shift after months of downward revisionsSBI Funds said consumer sentiment is improving due to income tax and GST cuts easing inflation and the expected transmission of policy rate reductionsStructural reforms such as new labour codes are also expected to support growth the report mentionedEven so the fund house cautioned that global trade uncertainties and fiscal pressures could create temporary headwindsMarket sentiment has been improving as well the report stated SBI Funds expects future gains to be gradual with more opportunities emerging at the stockspecific level rather than from broad market rallies IANS https://dailyworld.in/business/market-outlook-improving-on-strong-growth-policy-support-sbi-funds-651943.html Mon, 08 Dec 2025 23:41:00 +0530 https://dailyworld.in/business/msme-credit-exposure-rise-178-pc-to-rs-433-lakh-crore-led-by-small-firms-651955.html New Delhi Dec 8 Indiaâs micro small and medium exposure Businesses MSMEx credit exposure up to Rs 100 crore stood at Rs 433 lakh crore in September up 178 per cent yearâonâyear and flat on sequential basis a report said on Monday Active loans grew 57 per cent YoY to 1929 lakh the report from CRIF High Mark said highlighting a portfolio growth that is outpacing borrower expansion and a shift toward larger ticket lending and maturing customer profilesSmall businesses made the highest increase in share of exposure to 395 per cent from 384 per cent a year earlierThe medium segment followed a similar trend increasing its share from 225 per cent to 231 per cent and posting steady sequential growth Micro enterprises still account for most active loans at 864 per cent though their overall exposure remained stable this quarterPortfolio quality continued to strengthen with overall MSMEx Portfolio at Risk PAR 91â180 days at 16 per cent in September 2025 marking an improvement over the previous quarter More borrowers have moved into the Very Low and Low Risk categories across all segmentsâIndiaâs MSME credit ecosystem continues to demonstrate resilience with Indiaâs broader economic transformation Micro borrowers remain the backbone in terms of loan volumes the real credit momentum is shifting toward small and medium enterprises said Sachin Seth Chairman CRIF High Mark and Regional Managing Director â CRIF India amp South AsiaPSU banks remain the main lenders to micro enterprises with a 363 per cent share while private banks lead small and medium exposure categories at 464 per cent and 47 per cent respectively the report saidNBFCs expanded their footprint raising shares to 201 per cent in micro 139 per cent in small and 157 per cent in medium segmentsTerm loans dominate MSME credit especially for medium enterprises where they account for more than half of exposureMaharashtra remains the largest market with outstanding exposure of Rs 7 lakh crore recording solid yearonyear growth IANS https://dailyworld.in/business/msme-credit-exposure-rise-178-pc-to-rs-433-lakh-crore-led-by-small-firms-651955.html Mon, 08 Dec 2025 23:42:00 +0530 https://dailyworld.in/business/msme-credit-exposure-rises-178-pc-to-rs-433-lakh-crore-led-by-small-firms-651971.html New Delhi Dec 8 Indiaâs micro small and medium exposure businesses MSMEx credit exposure up to Rs 100 crore stood at Rs 433 lakh crore in September up 178 per cent yearâonâyear and flat on sequential basis a report said on Monday Active loans grew 57 per cent YoY to 1929 lakh the report from CRIF High Mark said highlighting a portfolio growth that is outpacing borrower expansion and a shift toward larger ticket lending and maturing customer profilesSmall businesses made the highest increase in share of exposure to 395 per cent from 384 per cent a year earlierThe medium segment followed a similar trend increasing its share from 225 per cent to 231 per cent and posting steady sequential growth Micro enterprises still account for most active loans at 864 per cent though their overall exposure remained stable this quarterPortfolio quality continued to strengthen with overall MSMEx Portfolio at Risk PAR 91â180 days at 16 per cent in September 2025 marking an improvement over the previous quarter More borrowers have moved into the Very Low and Low Risk categories across all segmentsâIndiaâs MSME credit ecosystem continues to demonstrate resilience with Indiaâs broader economic transformation Micro borrowers remain the backbone in terms of loan volumes the real credit momentum is shifting toward small and medium enterprises said Sachin Seth Chairman CRIF High Mark and Regional Managing Director â CRIF India amp South AsiaPSU banks remain the main lenders to micro enterprises with a 363 per cent share while private banks lead small and medium exposure categories at 464 per cent and 47 per cent respectively the report saidNBFCs expanded their footprint raising shares to 201 per cent in micro 139 per cent in small and 157 per cent in medium segmentsTerm loans dominate MSME credit especially for medium enterprises where they account for more than half of exposureMaharashtra remains the largest market with outstanding exposure of Rs 7 lakh crore recording solid yearonyear growth IANS https://dailyworld.in/business/msme-credit-exposure-rises-178-pc-to-rs-433-lakh-crore-led-by-small-firms-651971.html Mon, 08 Dec 2025 23:46:00 +0530 https://dailyworld.in/business/trai-extends-deadline-for-comments-on-interconnection-rules-review-to-dec-29-651972.html New Delhi Dec 8 The Telecom Regulatory Authority of India TRAI has extended the deadlines for stakeholders to submit their comments and countercomments on its latest consultation paper regarding the review of existing regulations on interconnection Ministry of Communications said on Monday The consultation paper was released on November 10 with the original deadlines set for December 8 for comments and December 22 for countercommentsTRAI said it received multiple requests from industry bodies and stakeholders seeking more time to study the issues and prepare their submissionsConsidering these requests the authority has now extended the deadline for written comments to December 15 and for countercomments to December 29âKeeping in view the requests received from industry association and stakeholders for an extension of time for submission of comments on the said consultation paper it has been decided to extend the last date for submission of written comments and countercomments up to December 15 and December 29 respectivelyâ the ministry saidStakeholders can send their inputs in electronic form to Sameer Gupta Advisor Networks Spectrum and LicensingI at advnslltraigovinmailtoadvnslltraigovin with a copy to ja2nsl2traigovinmailtoja2nsl2traigovinFor further information or clarification he can be contacted at 911120907752The consultation aims to gather industry views on updating interconnection regulations to keep pace with evolving telecom technologies and market requirementsMeanwhile the telecom regulatory body said last month that it has taken major action against spam and fraud in the telecom sector disconnecting more than 21 lakh mobile numbers and blacklisting around one lakh entities over the past yearAccording to the regulatory body the actions were based on complaints filed by citizens and the Authority has now urged people to continue reporting spam through the TRAI DND App to stop misuse of telecom services at the sourceAccording to TRAI many users believe that blocking unwanted numbers on their phones is enough IANS https://dailyworld.in/business/trai-extends-deadline-for-comments-on-interconnection-rules-review-to-dec-29-651972.html Mon, 08 Dec 2025 23:46:00 +0530 https://dailyworld.in/business/govt-launches-mission-watershed-punarutthan-in-nagaland-to-revive-waterbodies-651978.html New Delhi Dec 8 The government launched the StateâLevel Watershed Mahotsav 2025 and Mission Watershed PUNARUTTHAN at Naga Solidarity Park in Kohima to revive traditional water bodies restore degraded lands and strengthen waterâharvesting systems an official statement said on Monday The mission aims to achieve these objectives ensuring sustainable livelihoods through community participation and convergence with schemes such as MGNREGA the statement from the Ministry of Rural Development saidLaunching the mission MoS for Rural Development and Communications Dr Pemmasani Chandra Sekhar said âwater security is national securityâ adding that the future belongs to those who preserve their natural foundationsâNagaland with its rich ecological and cultural heritage stands at the forefront of communityled watershed management The restoration of springs renovation of water harvesting structures and rejuvenation of land resources here is not just an environmental effort it is a lifeline for future generationsâ the minister saidKey achievements under PM Krishi Sinchayee Yojana PMKSY and watershed development in Nagaland include 14 watershed projects approved Rs 140 crore sanctioned of which Rs 80 crore has been released 555 waterâharvesting structures renovated over 6500 farmers benefitted and 120 springs restored the statement notedThe program marks a major milestone in the governments commitment to transforming waterstressed regions into watersecure climateresilient landscapes in line with the visionary leadership of Prime Minister Narendra Modi who has consistently placed the North Eastern States at the centre of Indiaâs development journey the statement saidChandra Sekhar noted North Eastern States receive 90 per cent central assistance compared with the usual 6040 CentreâState ratio the statement addedHe emphasised that India holds only 4 per cent of the worldâs renewable freshwater but hosts 18 per cent of the global populationWith current per capita water availability already below the waterstress benchmark initiatives such as the PMKSY and watershed programmes have proven transformational â increasing farmersâ incomes boosting groundwater levels and enabling multiple crop cycles the statement noted IANS https://dailyworld.in/business/govt-launches-mission-watershed-punarutthan-in-nagaland-to-revive-waterbodies-651978.html Mon, 08 Dec 2025 23:49:00 +0530 https://dailyworld.in/business/indigo-cancels-112-flights-at-hyderabad-airport-passengers-continue-to-suffer-651980.html Hyderabad Dec 8 Passengers at Hyderabadâs Rajiv Gandhi International Airport RGIA continue to have a harrowing time as IndiGo cancelled 112 flights on Monday For the seventh consecutive day the airlineâs services remained disrupted The cancellations on Monday include 58 arrivals and 54 departuresWith no signs of normalcy returning to IndiGoâs operations at RGIA thousands of passengers continue to suffer For the fifth consecutive day the number of cancellations was over 100 More than 600 flights have been cancelled at RGIA since December 2As many as 126 flights were cancelled on Sunday December 7 The highest number of flights 155 was cancelled on December 5 while 144 flights were cancelled on December 6Hundreds of passengers remained stranded due to cancellations Angry passengers were seen making enquiriesThe Central Industrial Security Force CISF stepped up security at the airport as a precautionary measure to prevent any untoward incidentThe cancellations on key domestic routes severely disrupted the travel plans of the passengers for the seventh consecutive day Cancellation of departures and arrivals on key domestic routes like Delhi Bengaluru Chennai Kolkata Visakhapatnam Goa Madurai and Bhubaneswar severely inconvenienced passengersIndiGo on Sunday announced that it resumed operations at 137 of its 138 destinations The airline said it was on track to operate 1650 flights for the day compared to 1500 flights on December 6 It also stated that its ontime performance had risen from 30 per cent on December 6 to 75 per cent on December 7The airline also announced a full waiver on cancellations and rescheduling requests for bookings till December 15IndiGo has attributed the crisis to the new Flight Duty Time Limit FDTL norms These rules implemented in two phases from July and November increase weekly rest to 48 hours extend nightduty definitions and cap night landings at two The norms were rolled out following the Delhi High Court ordersOn a request by IndiGo the aviation regulator DGCA granted temporary relaxations until February 10 IANS https://dailyworld.in/business/indigo-cancels-112-flights-at-hyderabad-airport-passengers-continue-to-suffer-651980.html Mon, 08 Dec 2025 23:51:00 +0530 https://dailyworld.in/business/crypto-frauds-ed-attaches-proceeds-of-crime-worth-rs-4-189-crore-arrest-29-people-651982.html New Delhi Dec 8 The Enforcement Directorate ED has investigated several cryptorelated cases under the Prevention of Money Laundering PMLA attaching seizing and freezing proceeds of crime worth Rs 418989 crore arresting 29 people and filing 22 prosecution complaints while one accused has been declared a fugitive economic offender the Parliament was informed on Monday The government has brought virtual digital assets VDAs under the PMLA 2002 making virtual asset service providers VASPs reporting entities and required to submit specified and suspicious transaction reports to FIUIND These reports are analysed and shared with law enforcement agencies for further action Union Minister of State for Finance Pankaj Chaudhary informed the Lok SabhaâOne accused has been declared a Fugitive Economic Offender The Prohibition of Benami Property Transactions Act 1988 and the Black Money Undisclosed Foreign Income and Assets and Imposition of Tax Act 2015 apply to all assets including VDAsâ the minister addedMoreover cases of tax evasion linked to crypto currency and VDAs have been detected by the Central Board of Direct Taxes CBDT on multiple occasions and the Income Tax Department takes action as per the Income Tax Act 1961âDuring search and seizure operations undisclosed income from VDA transactions of Rs 88882 crore has been identified Under the CBDTâs NUDGE NonIntrusive Usage of Data to Guide and Enable campaign 44057 communications have been sent to taxpayers who invested or traded in VDAs but did not report these in Schedule VDA of their Income Tax Returns ITRsâ Chaudhary notedData analytics tools project insight and internal databases are used to match information on VDA transactions with disclosures in ITRs TDS returns filed by Virtual Asset Service Providers VASPs and taxpayersâ ITRs are also analysed to identify discrepancies and take appropriate actionThe government is also undertaking capacitybuilding initiatives to strengthen monitoring and investigation of VDArelated transactionsâTraining programmes workshops âChintan Shivirsâ and sessions on digital forensics blockchain analysis legal frameworks and digital evidence are regularly conducted Officers also receive specialised shortterm training in digital forensics through NFSU Goa to help identify and trace VDAlinked transactions from captured dataâ said the minister IANS https://dailyworld.in/business/crypto-frauds-ed-attaches-proceeds-of-crime-worth-rs-4-189-crore-arrest-29-people-651982.html Mon, 08 Dec 2025 23:51:00 +0530 https://dailyworld.in/business/govttopushoilseed-production-to697milliontonnes-by2031-boostatmanirbhartain-edible-oils-651990.html New Delhi Dec 8 The government on Monday said it aims to increase oilseed production to 697 million tonnes by 203031 enabling the country to achieve Atmanirbharta in edible oil production According to an August 2024 NITI Aayog report India ranks first globally in the production of rice bran oil castor seed safflower sesame and nigerDespite being among the worldâs largest producers of oilseeds India remains substantially dependent on imports to bridge its edible oil deficit The country is able to meet only 44 per cent of its domestic demand for edible oils through internal productionWhile the import dependence on edible oils has declined from 632 per cent in 201516 to 5625 per cent in 202324 the progress is tempered by the sharp rise in overall consumptionAs the dependence poses challenges to both economic stability and agricultural selfreliance the government launched the National Mission on Edible Oils NMEO to strengthen the countryâs oilseed ecosystem and achieve the goal of Atmanirbharta selfsufficiency in edible oil production according to an official statementNMEOOil Palm was launched in 2021 to focus on expanding oil palm cultivation and increasing domestic crude palm oil output while NMEOOilseeds was initiated in 2024 to improve productivity seed quality processing and market linkages for traditional oilseed cropsâThe NMEOOS Oil Seeds aims to increase oilseed production from 39 to 697 million tonnes by 203031 through clusterbased interventions and improved seed systemsâ the government said in an official statementâThe NMEOOP Oil Palm aims to bring 65 lakh hectares under oil palm cultivation by 202526 and increase crude palm oil production to 28 lakh tonnes by 202930â it addedThe NMEO aims to transform the edible oil sector from an importdependent to a selfreliant oneThrough focused interventions in oil palm expansion yield improvement in traditional oilseeds assured pricing mechanisms advanced seed technologies and coordinated institutional implementation the mission seeks to build a resilient and competitive domestic edible oil value chain the statement saidNMEO aims to reduce import dependence and strengthen rural economies by empowering farmers with better income opportunities access to quality inputs and market linkagesThe NMEO stands as a cornerstone of Indiaâs agricultural transformation bridging productivity gaps fostering innovation and advancing the countryâs journey towards true Atmanirbharta in edible oil production the statement noted IANS https://dailyworld.in/business/govttopushoilseed-production-to697milliontonnes-by2031-boostatmanirbhartain-edible-oils-651990.html Mon, 08 Dec 2025 23:55:00 +0530 https://dailyworld.in/business/over-8-crore-job-vacancies-mobilised-via-ncs-portal-mansukh-mandaviya-651991.html New Delhi Dec 8 Minister for Labour and Employment Mansukh Mandaviya informed Parliament on Monday that 817 crore vacancies have been mobilised for all the jobseekers including women SCST and EWS on the governmentâs National Career Service NCS portal till November 20 this year In a written reply to a question in the Lok Sabha the minister also stated that as on November 20 more than 602 crore jobseekers including women SCST and EWS categories and more than 5427 lakh employers are registered on NCS portal since inceptionHe explained that the Ministry of Labour and Employment is running the NCS portal which is a onestop solution for providing career related services including jobs from private and government sectors information on online and offline job fairs job search and matching career counselling vocational guidance information on skill development courses and training programmes through a digital platformHe further stated that the NCS project also envisaged setting up of Model Career Centres MCCs in collaboration with states and institutions to deliver employment services The government has approved 407 Model Career Centres till dateMandaviya had recently cited the World Economic Forumâs âThe Future of Jobs Report 2025â to highlight that Indiaâs unemployment rate is 2 per cent which is the lowest among G20 nationsHe said that employment generation has taken place across sectors in tandem with Indiaâs rapid economic growth and underlined the enabling government schemes that have contributed towards the sameOver the past year the ministry has signed MoUs with ten key organisations including Amazon and Swiggy These partnerships have already mobilised nearly five lakh vacancies the minister addedHighlighting the governmentâs renewed focus on youth Mandaviya recalled that at the very start of its third term Prime Minister Narendra Modi had announced a package of five flagship schemes with a total budget of Rs 2 lakh crore to support employment skilling and opportunities for 41 crore youthA key highlight of this package is the Pradhan Mantri Viksit Bharat Rozgar Yojana PMVBRY with an allocation of Rs 99446 crore aimed at incentivising the creation of over 35 crore jobs in two years of which 192 crore will benefit firsttime entrants to the workforce IANS https://dailyworld.in/business/over-8-crore-job-vacancies-mobilised-via-ncs-portal-mansukh-mandaviya-651991.html Mon, 08 Dec 2025 23:55:00 +0530 https://dailyworld.in/business/indigo-parent-loses-nearly-rs-37-000-crore-in-market-value-amid-flight-chaos-652000.html Mumbai Dec 8 InterGlobe Aviation Limited the parent company of IndiGo saw its market value shrink sharply on Monday as the airline continued to grapple with one of the worst travel disruptions in Indiaâs aviation history The stock fell as much as 10 per cent to Rs 4842 its steepest singleday drop since February 2022 marking the seventh straight session of lossesOver the past six trading days the stock has now lost 164 per cent wiping out nearly Rs 37000 crore in market capitalisationThe selloff intensified as investors reacted to the prolonged wave of largescale flight cancellations and delays triggered by IndiGoâs transition to the revised flight duty time limitation normsAnalysts warned that the disruptions are further weakening hopes of a strong earnings reboundBrokerage firm Investec maintained its âSellâ rating on InterGlobe Aviation with a price target of Rs 4040 saying that expectations of a thirdquarter recovery have dimmed after a weak first half of FY26The crisis escalated after the airline struggled to meet the regulatorâs deadline for transitioning to the new dutytime rulesIndiGo and another carrier had sought more time on December 7 citing operational stress across multiple airportsWhile the regulator granted a brief extension until 6 pm on December 8 it made it clear that no further leeway would be allowedIndiGo has since said that its operations are improving and that its network is on track to stabilise by December 10The airline operated over 1650 flights on Sunday up from 1500 the previous day and also reported better ontime performance which rose to 75 per cent from just 30 per centThe company added that refunds and baggage services are now functioning at full capacity for both direct and indirect bookingsIn response to the crisis IndiGo has formed a highlevel Crisis Management Group The team includes Chairman Vikram Singh Mehta board members Gregg Saretsky Mike Whitaker and Amitabh Kant along with CEO Pieter ElbersTheir mandate is to restore normal operations quickly and address the surge in cancellations and delays IANS https://dailyworld.in/business/indigo-parent-loses-nearly-rs-37-000-crore-in-market-value-amid-flight-chaos-652000.html Mon, 08 Dec 2025 23:59:00 +0530 https://dailyworld.in/business/pm-fme-scheme-helps-youth-launch-spice-brand-generate-local-jobs-651777.html Hazaribagh Dec 6 Prime Minister Narendra Modiâs vision of Aatmanirbhar Bharat and âVocal for Localâ is changing the lives of millions across the country By taking advantage of government schemes young Indians are not only securing a better future for themselves but also creating employment opportunities for others Saurabh Kumar from Hazaribagh Jharkhand is one such inspiring exampleSaurabh once prepared for government examinations and even cleared several of them However he carried a deeper aspiration to build something of his own and provide others with the opportunity for a better lifeWith this goal in mind Saurabh decided to utilise the PMFME Prime Minister Formalisation of Micro Food Processing Enterprises scheme which offers financial and technical support to small food processing units Guided by the Industry Department he applied for the scheme and was approved Soon after he set up a spice processing plant at Indrapuri Chowk in Hazaribagh and launched his own spice brand âApna ZaaykaâSpeaking to IANS Saurabh explains that his decision to enter the spice business had a clear purpose He had often read and observed the prevalence of adulterated spices in the market He wanted to provide pure hygienic and locally produced spices to the people of his region Today âApna Zaaykaâ has earned a strong reputation in HazaribaghThe establishment of the plant not only increased Saurabhâs own income but also created employment for nearly a dozen people The PMFME schemeâs One District One Product ODOP component is giving local entrepreneurs a new direction and young people like Saurabh are strengthening this initiative on the groundResidents praise Saurabhâs efforts saying that by benefiting from the Prime Ministerâs scheme he has improved not only his own future but also brought stability to several households that now depend on the jobs he providesPrime Minister Narendra Modi often speaks of selfreliance youth entrepreneurship and promoting local products Saurabh Kumarâs journey is a practical example of that vision taking shape at the grassroots level IANS https://dailyworld.in/business/pm-fme-scheme-helps-youth-launch-spice-brand-generate-local-jobs-651777.html Sun, 07 Dec 2025 06:22:00 +0530 https://dailyworld.in/business/cm-stalin-to-preside-over-mega-investor-summit-in-madurai-today-651788.html Madurai Dec 7 Tamil Nadu Chief Minister MK Stalin will preside over a mega investor summit here on Sunday as part of a major push to accelerate industrial growth job creation and infrastructure development in the southern part of the state The summit being organised under the theme Tamil Nadu is Growing will witness the signing of 91 Memoranda of Understanding MoUs involving a total investment of Rs 3666035 crore These projects are expected to generate direct employment for 56766 youth across multiple sectorsAccording to an official state government press release the summit is one of the largest singleday investment initiatives for the region reflecting the governmentâs sustained focus on decentralised industrial developmentAs part of the programme the Chief Minister will also lay the foundation stone for a new SIPCOT Industrial Park at Melur which is expected to attract manufacturing logistics and allied industries positioning the district as a future industrial hubThe press note highlighted that substantial development has taken place in the district since the DMK government assumed office in 2021 Over the last four years projects worth Rs 18795 crore covering 18881 development works have been completed These include initiatives in roads drinking water supply urban infrastructure education healthcare housing and rural connectivityOn the welfare front the government has disbursed Rs 8668 crore as direct assistance to 9655916 beneficiaries The total value of welfare support extended in the district since 2021 stands at Rs 27463 crore the release said reflecting the administrationâs emphasis on inclusive growthDuring the dayâs functions Chief Minister Stalin will distribute house site pattas to 63698 beneficiaries providing legal ownership of housing to thousands of families He will also inaugurate completed development works worth Rs 3650 crore and lay foundation stones for a series of new projects aimed at further strengthening the districtâs infrastructure networkA key highlight of the visit will be the inauguration of the Veeramangai Velu Nachiyar Flyover at Melamadai Junction constructed for Rs 15028 crore The flyover is expected to ease chronic traffic congestion and improve urban mobility across one of the cityâs busiest intersectionsThe government said that under the Dravidian model of governance Madurai has seen rapid and balanced growth since 2021Reiterating the Chief Ministerâs recent remarks the release noted that the people of the district have clearly understood that what Madurai needs today is sustained development and Sundayâs summit marks another major step in that direction IANS https://dailyworld.in/business/cm-stalin-to-preside-over-mega-investor-summit-in-madurai-today-651788.html Sun, 07 Dec 2025 11:12:00 +0530 https://dailyworld.in/business/samsung-poised-to-retake-top-spot-in-global-dram-market-in-q4-651791.html Seoul Dec 7 Samsung Electronics is set to reclaim the top spot in the global market for dynamic randomaccess memory DRAM by revenue in the fourth quarter overtaking its domestic rival SK hynix Inc industry sources said on Sunday The South Korean tech giant is projected to post an operating profit of over 18 trillion won 122 billion in the OctoberDecember period beating market expectations according to the sources reports Yonhap news agencySamsungs device solutions division which oversees the companys semiconductor business is expected to account for 151 trillion won of the total operating profit sharply up by 422 percent from a year earlierWith the earnings surprise Samsung will likely rank No 1 in the global DRAM supplier revenue ranking for the fourth quarter pushing SK hynix to second placeSamsung which had maintained its leader position in the DRAM market for 33 years lost its position to SK hynix in the first quarter as it lagged behind the competition over high bandwidth memory HBM chipsSK hynix was the worlds first company to develop HBM chips a core component for artificial intelligence AI applications in 2013 and has since been leading the global HBM marketIndustry analysts say Samsungs recent efforts to narrow the technology gap with its rival in HBM combined with rising prices for conventional DRAM products driven by investment in artificial intelligence infrastructure such as data centres have bolstered its performanceThe average price of 8gigabit DDR4 for computers increased 157 percent onmonth to 81 in November according to market research firm DRAMeXchangePrices have jumped sixfold since March when they stood at 135 and are expected to rise by as much as 50 percent in the fourth quarter compared with the previous three months said the report IANS https://dailyworld.in/business/samsung-poised-to-retake-top-spot-in-global-dram-market-in-q4-651791.html Sun, 07 Dec 2025 11:17:00 +0530 https://dailyworld.in/business/global-events-inflation-data-fii-trends-likely-to-drive-indian-markets-next-week-651810.html Mumbai Dec 7 The Indian stock market is set for a key week ahead with investors closely watching a mix of domestic and global factors that could shape market sentiment Inflation data foreign investor activity crucial policy meetings in the US and Indiaâs ongoing trade negotiations with major global partners are expected to play a central role in determining market directionAdditionally fresh developments in IndiaâRussia relations and movement in key economic indicators such as loan growth and forex reserves are likely to keep traders on alertRussian President Vladimir Putinâs visit to India resulted in 16 new agreements between the two countries covering defence trade the economy healthcare education culture and mediaPutin assured that Russia is ready to provide India with a stable and uninterrupted supply of fuel His statement comes at a time when India is also negotiating a trade deal with the United States which has urged New Delhi to reduce its purchases of Russian oilTalks on an IndiaUS trade agreement are also expected to intensify next week with a delegation led by Deputy US Trade Representative Rick Switzer set to arrive in New DelhiBoth sides are working on a multiphase deal with the first phase aiming to roll back retaliatory tariffs that were imposed after the Trump administration raised duties on Indian goodsIn the upcoming week traders and investors will be closely watching Indiaâs inflation data which will be released on December 12This comes after the country recorded a recordlow CPI inflation of 025 per cent in October Markets will also monitor data on loan growth deposit growth and foreign exchange reserves to assess the overall economic outlookMeanwhile the Indian stock market ended higher on Friday as investor sentiment improved after the Reserve Bank of India reduced the repo rate by 24 basis points and announced fresh liquidity support worth Rs 145 lakh crore through bond purchases and dollarârupee swapsThe RBIâs move signalled a strong push to support economic growth and ease financial conditionsThe benchmark Sensex gained 447 points or 052 per cent to close at 8571237 marking its second straight day of gainsThe Nifty also advanced 153 points or 059 per cent to settle at 2618645 âOn the upside immediate resistance is placed at 26300 followed by 26400 and 26500â experts saidâOn the downside support is seen at 26100 and then at 26000 with a break below 25850 likely to attract additional selling pressureâ they added IANS https://dailyworld.in/business/global-events-inflation-data-fii-trends-likely-to-drive-indian-markets-next-week-651810.html Sun, 07 Dec 2025 14:09:00 +0530 https://dailyworld.in/business/mf-equity-investments-double-in-november-to-rs-43-465-crore-651817.html Mumbai Dec 7 Mutual funds sharply increased their equity purchases in November riding on a steady rise in investor inflows and improving market sentiment According to data sourced from SEBI MFs invested a net Rs 43465 crore in equities last month more than double the Rs 20718 crore they pumped in during OctoberMarket data shows that fund houses were consistent buyers through almost the entire month stepping back only on two days when they pulled out Rs 2473 croreThe strong and steady buying interest from mutual funds helped lift overall market mood and contributed to the rise in benchmark indicesWhile equity inflows surged mutual funds turned significant sellers in the debt segmentNet outflows from debt funds shot up to Rs 72201 crore in November compared with Rs 12771 crore in OctoberThe strong domestic investment trend comes at a time when the industry has already been witnessing robust participation from retail investors through systematic investment plans SIPsIn October SIP inflows hit an alltime high of Rs 29529 crore rising from Rs 29361 crore in September as per data from the Association of Mutual Funds in India AMFIIndustry experts say this steady flow of money especially into SIPs reflects disciplined investor behaviour despite shortterm market volatilityThey believe such consistent contributions have helped expand the industryâs total assets under management and continue to provide crucial support to equity marketsAnalysts also note that while confidence in equities remains strong some investors are gradually diversifying towards debtoriented schemes and gold given the uncertain global environmentThe trend points to a maturing investor base that balances longterm wealthbuilding strategies with risk management even as mutual funds continue to play a key role in supporting the equity marketâs upward momentum IANS https://dailyworld.in/business/mf-equity-investments-double-in-november-to-rs-43-465-crore-651817.html Sun, 07 Dec 2025 15:15:00 +0530 https://dailyworld.in/business/parliament-panel-likely-to-summon-airline-chiefs-over-indigo-flight-chaos-651825.html New Delhi Dec 7 IANS The major disruption in air travel across the country has prompted a Parliamentary panel to consider summoning top officials of private airlines and senior representatives of the aviation regulatornbspThousands of passengers were left stranded after IndiGo cancelled a large number of flights over the past six daysThe Parliamentary Standing Committee on Transport Tourism and Culture headed by JDU MP Sanjay Jha is expected to call senior executives from airlines along with officials from the Directorate General of Civil Aviation DGCA and the Ministry of Civil AviationThe committee wants to understand what caused the cancellations and what steps are being taken to prevent such incidents in the futureA member of the panel said that the committee is seriously concerned about the inconvenience caused to so many travellersEven several MPs who were in Delhi for the Winter Session of Parliament were affected by IndiGos cancellations and delays by other airlinesAccording to the member many MPs also received complaints from citizens about a sudden rise in airfares due to the ongoing disruptionsOn Sunday alone IndiGo cancelled more than 220 flights at Delhi and Mumbai airports as the crisis continued for the sixth straight dayThe DGCA had already issued notices to IndiGo CEO Pieter Elbers and COO Porqueras seeking an explanation for the largescale disruptionsIndiGo in a statement on Sunday said that the Board of InterGlobe Aviation its parent company has formed a Crisis Management Group to closely monitor the situationThe company said the group is meeting regularly and the Board of Directors is taking all possible steps to support affected passengersIndiGo has assured that refunds are being processed and efforts are underway to stabilise flight operations at the earliest https://dailyworld.in/business/parliament-panel-likely-to-summon-airline-chiefs-over-indigo-flight-chaos-651825.html Sun, 07 Dec 2025 17:58:00 +0530 https://dailyworld.in/business/indigo-flight-disruptions-continue-in-rajasthan-fares-soar-special-trains-announced-651764.html Jaipur Dec 6 The flight cancellations by IndiGo Airlines continued on Saturday for the fourth consecutive day in Rajasthan causing widespread disruption for air travellers across the country officials said On Saturday alone eight flights were cancelled between morning and afternoon followed by nine more cancellations later in the day at Jaipur International AirportKey routes impacted included Delhi Mumbai Kolkata Hyderabad and PuneThe ongoing cancellations have triggered a sharp rise in airfaresTickets to Bengaluru reportedly spiked to Rs 77000 while JaipurâDelhi and JaipurâMumbai fares increased nearly tenfold marking one of the steepest fare surges witnessed in recent yearsSeats on other airlines have also become scarce particularly for Delhi Mumbai and Kolkatabound passengersMeanwhile booking systems are showing delays of up to 24 hours for upcoming IndiGo flightsPassengers at Jaipur Airport expressed frustration over inadequate arrangements and lack of communication from airline representativesDespite crowding and rising complaints assistance counters remained largely nonfunctional adding to passenger inconvenienceOperational disruption due to internal roster and scheduling issues at IndiGo is being cited as the primary cause however the airline has not issued a formal clarificationResponding to the travel crisis the North Western Railway has introduced special trains to ease passenger movementScheduled services include DurgapuraâBandra Terminus one trip on December 7â8 and HisarâKhadki one trip on December 7â8Delhi Sarai RohillaâSabarmati Special Express has been announced on December 6â7 via JaipurOfficials said these trains are expected to provide temporary relief until flight schedules normaliseWhile Jaipur remained heavily impacted operations at Jodhpur Airport improved on SaturdayNo Indigo flights were cancelled there though flights arriving from Mumbai and Hyderabad faced significant delays forcing passengers to wait between five to six hours at the terminal IANS https://dailyworld.in/business/indigo-flight-disruptions-continue-in-rajasthan-fares-soar-special-trains-announced-651764.html Sun, 07 Dec 2025 00:12:00 +0530 https://dailyworld.in/business/indian-stock-market-ends-in-bullish-tone-after-rbi-rate-cut-651721.html Mumbai Dec 6 Indian equity benchmarks made marginal losses after hitting record highs and three weeks of consecutive gains due to profit booking However the market ended the week in a bullish tone after the Reserve Bank of India RBI delivered a 25 bps rate cut that lifted investor sentiment Benchmark indices Nifty and Sensex dipped 037 and 027 per cent during the week to close at 26186 and 85712 respectivelyEarly optimism driven by strong Q2 GDP print and robust auto sales was overshadowed by persistent FII outflows sharp rupee depreciation and uncertainty over trade negotiationsBroader indices underperformed with the Nifty Midcap100 and Smallcap100 down 073 per cent and 180 per cent respectively in a weekSentiment reversed on Friday after the RBI surprised markets with a 25bps rate cut supported by lower inflation forecasts and liquidity measuresGains during the week were led by auto IT due to festive demand and favourable currency tailwinds Banks Finances consumer durables power chemicals and oil amp gas laggedAs long as Nifty sustains above the 26050â26000 band the bullish structure remains valid Immediate resistance now lies at 26350â26500 zone and a break below 26000 could lead to profit booking said market expertsWith Indiaâs economic growth remaining resilient despite tariff pressures and global headwinds the Indian equity market is wellpositioned to benefit if global fund flows begin to rotate back into emerging markets market watchers saidInvestors are keen on cues from the US Federal Reserveâs monetary policy decision next week Markets have already begun pricing in a 25 bps rate cut supported by dovish commentary from several Fed officials and recent data pointing to softening labour market conditionsAnalysts said that shift in US Feds policy stance could sway currency movements and materially influence foreign portfolio investor flows into emerging markets including India IANS https://dailyworld.in/business/indian-stock-market-ends-in-bullish-tone-after-rbi-rate-cut-651721.html Sat, 06 Dec 2025 11:20:00 +0530 https://dailyworld.in/business/customs-tax-reforms-next-big-task-rupee-to-find-its-own-natural-level-fm-sitharaman-651724.html New Delhi Dec 6 Finance Minister Nirmala Sitharaman on Saturday said that after income tax and GST reforms the next focus of the government is the simplification of the customs tax system Speaking at the Hindustan Times Leadership Summit here the minister said that the government has moved to a âfacelessâ income tax system online and now âthe same virtues will have to be brought to customsâShe further stated that smuggling of illegal goods is still a serious problemWe have brought down custom duties in the last two years steadily Customs is the next big assignment FM Sitharaman notedOn the Indian rupee vs US dollar debate Sitharaman said that rupee will find its own natural level after the currently hit an alltime low of 90 against a US dollar this weekâRupee and currency exchange rates are sensitive issues We raised it much better while we were in the opposition Inflation rate was so high back then economy was fragile then and when your currency also takes a hit it is nobodys bright spark she saidFinance Minister further stated that âLook at the fundamentals of the economy where we stand some factors are very important which position India in a very different league This currency debate will have to be circumscribed by those realitiesâOn Friday the rupee closed at 8998 against the US dollar Over the week the currency depreciated by nearly 06 per centMeanwhile the Reserve Bank of India RBI has raised its GDP growth forecast of the Indian economy to a robust 73 per cent for 202526 from 68 per cent earlier on the back of an improved outlook driven by strong agricultural prospects GST rate cuts continuing to play out low inflation and strong balance sheets of corporates and banksThe RBIâs monetary policy committee MPC also slashed its forecast for Indiaâs inflation rate for the financial year 202526 to 2 per cent from 26 per cent predicted in October due to the sharp decline in food prices and the GST rate cuts playing out IANS https://dailyworld.in/business/customs-tax-reforms-next-big-task-rupee-to-find-its-own-natural-level-fm-sitharaman-651724.html Sat, 06 Dec 2025 11:46:00 +0530 https://dailyworld.in/business/india-on-track-to-become-5-trillion-economy-amid-strong-financial-inclusion-dfs-secretary-651728.html New Delhi Dec 6 India is steadily moving towards becoming a 5 trillion economy driven by strong fundamentals infrastructureâled growth and resilient supply chains M Nagaraju Secretary Department of Financial Services has said The last decade has been transformative and initiatives like Jan Dhan and DPI have expanded financial inclusion from 21 percent in 2008 to over 80 percent today Nagaraju said here at a conference on AI and digital public infrastructure DPI according to an official statementHe was speaking at the event organised by the National Institute for Smart Government NISG Ministry of Electronics and Information Technology and Tripuraâs Directorate of IT in which EY was the Knowledge PartnerS Krishnan Secretary MeitY said that government private sector civil society and academia should collaborate for optimal working of Indiaâs technology ecosystemBhuvnesh Kumar CEO UIDAI and CEO NISG highlighted how NISGâs model brings together the speed of government decisionmaking with the efficiency of privatesector procurement and oversightAccording to Mahaveer Singhvi Joint Secretary NEST Division Ministry of External Affairs the IndiaAI Mission aims to create compute capacity datasets foundational models innovation centres and frameworks that reflect Indiaâs realities and prioritiesA NISGâEY report released at the event highlighted a strong consensus on technologys role in Indiaâs progress and how the convergence of AI and Indias DPI stack will accelerate economic empowerment improve governance and deliver citizencentric services at scaleShankar Maruwada Cofounder and CEO EkStep Foundation remarked that DPI 10 helped address Indiaâs welfare needs DPI 20 supported by AI will help meet the aspirations of 15 billion Indians This decade offers the opportunity to evolve digital public infrastructure into digital public intelligence he addedThe conference brought together policymakers technologists and industry leaders to deliberate on artificial intelligence and DPI strengthening governance and public service delivery to achieve the vision of a developed India by 2047 IANS https://dailyworld.in/business/india-on-track-to-become-5-trillion-economy-amid-strong-financial-inclusion-dfs-secretary-651728.html Sat, 06 Dec 2025 12:11:00 +0530 https://dailyworld.in/business/export-promotion-mission-with-rs-25-060-crore-outlay-to-boost-msme-exports-651731.html New Delhi Dec 6 The government approved an Export Promotion Mission with a total outlay of Rs 25060 crore for FY 2025â26 to FY 2030â31 to consolidate export support and strengthen competitiveness especially for the MSMEs and labourintensive sectors The Directorate General of Foreign Trade DGFT will implement the mission through a dedicated digital platform from application to approval to disbursal that replaces multiple fragmented schemes with a single outcomeâbased framework for faster transparent delivery an official statement said on SaturdayBy merging fiscal incentives financial facilitation digital governance and regulatory flexibility into a single missionmode framework the government has created a powerful platform to enhance Indiaâs global trade competitivenessTwo integrated subâschemes namely Niryat Protsahan and Niryat Disha will operate under the missionNiryat Protsahan focuses on improving access to affordable trade finance for MSME exporters through interest subvention exportâfactoring deepâtier financing and credit cards for eâcommerce exportersFurther Niryat Disha aims to raise market readiness and competitiveness through support for export quality and compliance international branding and packaging assistance participation in trade fairs and buyerseller meets export warehousing and logistics etcThe government also expanded the Credit Guarantee Scheme for Exporters CGSE providing up to Rs 20000 crore in additional support with 100 per cent government guarantee to member lending institutionsFurther RBI announced several measures such as moratorium on repayments and extension of export credit tenure to 450 daysThe permissible credit period for preshipment and postshipment export credit has been extended to 450 days for credit disbursed up to March 31 2026 the statement saidFor packing credit facilities already availed by exporters before August 31 2025 where dispatch could not take place REs may allow liquidation from any legitimate alternate source including domestic sale proceeds or substitution of export contracts it noted IANS https://dailyworld.in/business/export-promotion-mission-with-rs-25-060-crore-outlay-to-boost-msme-exports-651731.html Sat, 06 Dec 2025 12:36:00 +0530 https://dailyworld.in/business/rbis-dovish-stance-leaves-room-for-more-rate-cuts-if-growth-softens-report-651746.html New Delhi Dec 6 The Reserve Bank of Indiaâs RBI 25 bps repo rate cut and its dovish stance creates scope for further easing in FY27 if growth weakens while ongoing foreignâexchange depreciation could improve export competitiveness a report has said The report from HSBC Global Investment Research welcomed the RBIs plans to infuse domestic liquidity in December saying it could infuse about Rs 145 trillion of liquidityThe RBI unveiled plans of Rs 1 trillion of open market operations purchases and a a 3year USDINR buysell swap of 5 billionHSBC said that its inflation forecasts are about 50 basis points lower than the RBIâs â roughly 35 per cent for H1FY27The firm forecasted inflation to remain below 4 per cent in FY26 and FY27We believe growth is strong now but will soften by the March quarter due to fiscal tightening weaker exports and the GST boost fading Fiscal policy will remain tight in a world of fiscal intolerance and the onus for supporting growth will fall on the RBI it addedThe RBI cut inflation forecasts discussed sectors where growth could soften and assured ample liquidity the report saidThe central banks policy was dovish as it lowered inflation forecasts for FY26 and the first half of FY27 by 60 bps and 50 bps respectively and raised its GDP projection for FY26 to 73 per centOn liquidity not only is the RBI providing Rs 145 trillion worth of funds in December the governor mentioned that more could be made available if needed the report notedRBI MPC members unanimously decided to reduce the repo rate by 25 basis points to 525 per cent from 55 per cent earlier to spur growth in the economyAnalysts said that RBIs decision to cut the repo rate is a move that uses the monetary space created by low inflation to stimulate consumption and strengthen the growth cycle IANS https://dailyworld.in/business/rbis-dovish-stance-leaves-room-for-more-rate-cuts-if-growth-softens-report-651746.html Sat, 06 Dec 2025 13:56:00 +0530 https://dailyworld.in/business/how-new-labour-reforms-are-empowering-indias-mine-workers-651749.html New Delhi Dec 6 The recently introduced Labour Codes have created a holistic framework empowering mine workers with better working hours health and safety standards the government said The mining sector plays a major role in the countryâs economic development providing important raw materials employment opportunities export promotion and revenue for the governmentWhile the country has long prioritised strong safeguards to ensure the health safety and welfare of mine workers the new Labour Codes particularly the Occupational Safety Health and Working Conditions OSHampWC Code 2020 and the Social Security SS Code 2020 consolidate and strengthen the earlier provisionsâThey create uniform standards across India simplify compliance extend social security coverage increase worker protections and provide more flexibility in working conditionsâ said the government in an official statementâThese new Codes introduce transformative reforms to empower mine workers and simultaneously promote ease of doing business in the mining industry They bring standardisation in the statutory norms for occupational safety health and working conditions for mine workers By addressing longstanding issues the codes empower workers with better rights and safety while also simplifying regulatory burdens for employersâ it addedUnder the new labour laws working conditions improve with flexible schedules regulated hours assured rest intervals and fair compensationHealth safety and welfare provisions are strengthened with annual examinations notified occupational diseases and improved facilitiesSocial security is expanded through wider coverage portable benefits and stronger longterm protection for workers and their familiesUnified registration streamlined inspections and digital processes promote ease of doing businessWith these reforms India is laying the foundation for sustained development in the mining sectorThe new Labour Codes have created a holistic framework that empowers mine workers through better working hours health and safety standards social security and genderinclusive practices while also providing employers with the flexibility and clarity needed to maintain these standards the statement said IANS https://dailyworld.in/business/how-new-labour-reforms-are-empowering-indias-mine-workers-651749.html Sat, 06 Dec 2025 13:58:00 +0530 https://dailyworld.in/business/indigo-crisis-11-flights-resumed-from-jammu-seven-cancelled-from-srinagar-651752.html Jammu Dec 6 IndiGo Airlines on Saturday said it has resumed 11 flights from Jammu airport but cancelled seven flights from Srinagar airport due to disruption caused by pilot rostering issues Passengers have been stranded at Jammu airport for five days since the nationwide disruption in IndiGo flight operationsOut of its eight scheduled flights the airline announced the cancellation of seven flights from Srinagar International AirportIndiGo was scheduled to operate 36 flights from the Srinagar airport on Saturday 18 inbound and 18 outbound However owing to rostering issues IndiGo cancelled seven arriving and as many departing flights In addition the toandfro movement of another flight from a separate airline was also cancelledWhile nine restored services will operate as scheduled at Jammu Airport two flights connecting Jammu with Mumbai and Hyderabad â will remain suspended for now officials said at the Jammu airportIt must be recalled that the cancellation and delay of all domestic flights of IndiGo entered the fifth day on Saturday The issue has affected tens of thousands of passengers who are worried about extended delays and soaring travel costsOn Friday the airline apologised for the massive crisis assuring that all cancelled flights will be refundedThe disruptions were primarily caused by a shortage of pilots that was not anticipated due to planning deficiencies and the authorities are keeping a close watch on the situationOperating 2300 flights daily with a fleet of over 400 aircraft IndiGo has seen its punctuality plummet with the operational disruptions that are expected to continue for many more daysOn Saturday the Civil Aviation Ministry took note of concerns regarding unusually high airfares being charged by certain airlines during the ongoing disruptionAll airlines were instructed to strictly adhere to the fare caps that have now been prescribed These caps will remain in force until the situation fully stabilises the ministry added IANS https://dailyworld.in/business/indigo-crisis-11-flights-resumed-from-jammu-seven-cancelled-from-srinagar-651752.html Sat, 06 Dec 2025 14:25:00 +0530 https://dailyworld.in/business/biocon-tofullyintegrate-biologicsunitin-55-bn-deal-651755.html Bengaluru Dec 6 Biopharmaceuticals company Biocon on Saturday announced to fully integrate its biosimilar unit Biocon Biologics as a wholly owned subsidiary in a 55 billion deal The company in a statement noted that it will acquire the remaining stake in Biocon Biologics from Serum Institute Life Sciences Tata Capital Growth Fund II and Activ Pine LLP through a share swap of 7028 Biocon shares for every 100 Biocon Biologics shares at a share price of Rs 40578 per Biocon share The deal values Biocon Biologics at 55 billionKiran MazumdarShaw Executive Chairperson Biocon Limited called the integration âthe next chapter in our evolutionââStrategically Biocon will be one of the few companies offering both biosimilars and generics at a global scale As the only company with biosimilar insulins and generic GLP1 peptides Biocon is uniquely positioned to comprehensively address the needs of patients living with diabetesâ MazumdarShaw said in the statementâTogether with our combined oncology and immunology portfolios this creates a differentiated offering addressing the worldâs most pressing healthcare needsâ it addedMazumdarShaw also announced that Shreehas Tambe will take over as the CEO and Managing Director of the combined businessâHis 28 years of experience with the Biocon Group will be invaluable as we advance our mission to make lifesaving medicines affordable and accessible to patients worldwideâ she saidThe integration process is expected to be completed no later than March 31 2026 the company saidFurther Biocon noted that it will acquire the residual stake held by Mylan Viatris for a total consideration of 815 million of which 400 million will be payable in cash and 415 million through a share swap of 6170 Biocon shares for every 100 Biocon Biologics shares at a share price of Rs 40578 per Biocon shareIt also approved raising additional capital of up to Rs 4500 crore USD 500 million through Qualified Institutional Placement QIP The proceeds of the QIP will be largely utilised towards the cash component payable to Viatris the statement said IANS https://dailyworld.in/business/biocon-tofullyintegrate-biologicsunitin-55-bn-deal-651755.html Sat, 06 Dec 2025 14:52:00 +0530 https://dailyworld.in/business/home-loan-rates-expected-to-fall-to-pandemic-lows-after-rbi-repo-rate-cut-651757.html New Delhi Dec 6 As the Reserve Bank of Indiaâs RBI monetary policy committee cut the repo rate by 25 basis points to 525 per cent home loan rates are poised to fall to levels last seen during the Covid19 pandemic Borrowers can expect their home loan interest rate to decline by 25 bps to about 71 per cent as several public sector banks including Union Bank Bank of India and Bank of Maharashtra currently offer home loans at 735 per cent according to multiple media reportsOn a Rs 1 crore home loan for 15 years a 025 percentage reduction would lower the EMI by roughly Rs 1440 per month analysts saidAccording to bankers as the new loans are to be priced at 71 per cent lenders will have to sharply cut deposit rates or revise spreads over the benchmark leaving new borrowers to pay more than existing floatingârate customersBanks are set to see a compression in net interest margins until deposit rates ease while NonâBanking Finance Companies stand to benefit immediately from lower funding costsAnalysts said that the RBIs neutral stance and its open market operations purchases will keep ample liquidity in the system and help transmit rate cuts to the grassrootsRBI unveiled plans of Rs 1 trillion of open market operations purchases and a 3year USDINR buysell swap of 5 billion which is expected to infuse about Rs 145 trillion of liquidityRBI MPC members unanimously decided to reduce the repo rate by 25 basis points to 525 per cent from 55 per cent earlier to spur growth in the economyAnalysts said that the RBIs decision to cut the repo rate is a move that uses the monetary space created by low inflation to stimulate consumption and strengthen the growth cycle IANS https://dailyworld.in/business/home-loan-rates-expected-to-fall-to-pandemic-lows-after-rbi-repo-rate-cut-651757.html Sat, 06 Dec 2025 14:55:00 +0530 https://dailyworld.in/business/complete-all-pending-passenger-refunds-by-8-pm-on-sunday-centre-to-indigo-651761.html New Delhi Dec 6 The Ministry of Civil Aviation on Saturday has directed IndiGo to clear all pending passenger refunds by 8 pm on Sunday This comes amid the ongoing disruption of IndiGo flights which continued for its fifth consecutive day with a total of 405 domestic flights cancelledIn a statement the Ministry âmandated that the refund process for all cancelled or disrupted flights must be fully completed by 800 PM on Sunday December 7ââAirlines have also been instructed not to levy any rescheduling charges for passengers whose travel plans were affected by cancellationsâ it addedThe Ministry has clarified that any delay or noncompliance in refund processing will invite immediate regulatory actionIn addition the government has also directed IndiGo to trace and deliver baggage separated from passengers to their residential or chosen address within the next 48 hoursâAirlines have been told to maintain clear communication with passengers regarding tracking and delivery timelines and to provide compensation where required under existing passenger rights regulationsâ the Ministry saidFurther the government has also asked the airline to set up dedicated passenger support and refund facilitation cells to ensure seamless grievance redressalThese cells have been tasked to proactively contact affected passengers and ensure that refunds and alternative travel arrangements are processed without the need for multiple followups The system of automatic refunds will remain active until operations stabilise completelyâThe Ministry of Civil Aviation remains in continuous coordination with airlines airports security agencies and all operational stakeholders to ensure that passenger rights are fully protected during this period of disruptionâ the statement saidThis includes âproper facilitation for senior citizens differently abled passengers students patients and all those requiring urgent travelâThe government noted that it remains âfully committed to restoring complete operational normalcy at the earliestâ IANS https://dailyworld.in/business/complete-all-pending-passenger-refunds-by-8-pm-on-sunday-centre-to-indigo-651761.html Sat, 06 Dec 2025 16:01:00 +0530 https://dailyworld.in/business/trade-route-with-pakistan-to-reopen-only-after-strong-assurances-from-islamabad-taliban-651520.html Kabul Dec 4 The Taliban regime in Afghanistan on Thursday made it clear once again that the trade routes with Pakistan will reopen only after strong assurances are received from the government in Islamabad In a statement shared on X Taliban spokesperson Zabihullah Mujahid accused Pakistan of illegally blocking trade and transit routes with Afghanistan as a means of political and economic pressure which led to people from both nations facing lossesThe Islamic Emirate of Afghanistan once again reiterates its position regarding the opening of trade routes with Pakistan As the trade and transit routes between Afghanistan and Pakistan had been illegally blocked by Pakistan as a means of political and economic pressure which brought serious losses to the people of both sides Mujahid posted on XSince Afghanistan meets its needs from numerous other countries the Islamic Emirate has decided that in order to expand trade and transit and also for the welfare and honorable trade between the two sides trade routes with Pakistan will reopen when strong assurances are obtained from the Pakistani government so that in the future these routes are not closed due to political pressure illegal use or pressure on the people and the rights of traders and people of both countries are protected he addedThe Taliban spokespersons statement came after Pakistan announced that it has reopened the Torkham and Chaman border crossings with Afghanistan for United Nations humanitarian aid as per local media reportsEarlier in October Pakistan shut all trade routes with Afghanistan after Pakistani forces conducted attacks near the Durand Line In response to Pakistans attacks Afghan forces also carried out attacks After the closure of trade route Afghanistans Deputy Prime Minister for Economic Affairs Mullah Abdul Ghani Baradar Akhund Deputy Prime urged industrialists and traders to use alternative trade routes instead of Pakistan Pajhwok Afghan News reportedOn Wednesday Afghanistans Foreign Minister Amir Khan Muttaqi accused Pakistan of trying to impose mysterious projects on Kabul and using economic pressure border shutdown and political leverage to destabilise the Taliban administration local media reportedWhile addressing a gathering in Kabul on Wednesday Muttaqi said that Pakistan hoped that people in Afghanistan would be angry and pressure the Taliban administration after the former shut trade routes However he said that Pakistans border shutdown did not cause shortage or unrest in Afghanistan and said that other regional partners supplied essential goods to Kabul Afghanistans leading news agency Khaama Press reportedHe said that Pakistan has been engaged in longstanding disputes with almost all of its neighbours and is pressurising Afghanistan with what he termed as unrealistic and unacceptable security demandsHe stressed that the Taliban has already taken measures to address concerns of the Pakistani administration including shifting Waziristani tribal families away from the frontier and deploying additional border forces in the past four yearsHe said Pakistan expects the Taliban to deliver everything while Islamabad itself is unable to resolve its own internal security problems He also slammed Pakistans political system stressing that decisionmaking is divided between civilian leaders and the military making negotiations inconsistent and difficult IANS https://dailyworld.in/business/trade-route-with-pakistan-to-reopen-only-after-strong-assurances-from-islamabad-taliban-651520.html Fri, 05 Dec 2025 03:36:00 +0530 https://dailyworld.in/business/rajasthan-new-pomegranate-varieties-hold-promise-on-rising-farmers-income-651533.html Jodhpur Dec 4 Pomegranate growers in Rajasthan are filled with fresh hope of a likely spurt in their income riding on the launch of two fresh varieties by the Central Arid Zone Research Institute CAZRI The Jodhpurbased institute has taken up intensive RampD work to discover new solutions and ways to increase the productivity of fruits thereby benefiting the farmers financiallyThe two new varieties of pomegranate saffron and super saffron recently developed by the institute have inspired fresh hope of a substantial increase in income generation from pomegranate cultivationThe CAZRI institute is conducting various training programs to train the farmers in new techniques and also introduce them to advanced cultivation techniquesDr Om Prakash Meena a senior scientist at CAZRI told IANS that research on the pomegranate has been ongoing since 2010 under a special projectHe explained that pomegranate cultivation is steadily expanding in western Rajasthan providing farmers with profits many times greater than traditional crops In many places farmers income has increased multifoldHe explained that pomegranate yields are particularly good in areas with saline water Varieties like Saffron and Super Saffron have been developed using radiation technology while the demand for tissue culturebased plants as planting material has increased rapidlyDr Meena said that pomegranate is called red gold because it has become a strong source of income for farmers by producing highquality produce at low input costsAs a government organisation CAZRIs goal is to reduce farmers costs and improve their produce quality To achieve this experts provide detailed information on water management nutrient management and other agricultural practices so that farmers can adopt these techniques and achieve higher productionThese initiatives by CAZRI have given a new identity to pomegranate cultivation in Western Rajasthan and opened new avenues of economic empowerment for farmers IANS https://dailyworld.in/business/rajasthan-new-pomegranate-varieties-hold-promise-on-rising-farmers-income-651533.html Fri, 05 Dec 2025 03:59:00 +0530 https://dailyworld.in/business/indias-solar-pli-scheme-generates-43-000-jobs-across-9-states-651535.html New Delhi Dec 4 Indiaâs ProductionLinked Incentive PLI scheme for highefficiency solar modules has created nearly 43000 jobs across the country as of October 2025 according to data submitted in the Parliament Out of the total employment around 11220 are direct jobs generated by solar manufacturing units coming up under the schemeGovernment data shows that employment has been created across nine states including Gujarat Tamil Nadu Rajasthan Maharashtra Andhra Pradesh Madhya Pradesh Uttar Pradesh Jammu amp Kashmir and OdishaGujarat has emerged as the biggest contributor accounting for more than 22400 jobs through large manufacturing projects by Adani New Industries and othersTamil Nadu is the secondlargest contributor with about 6800 jobs created by companies such as FS India Solar Ventures VSL Green Power and TP Solar Andhra Pradesh has recorded 1620 jobs from two manufacturing units while Odisha has contributed around 200 jobs through AMPIN SolarThe rest of the employment has come from multistate projects by companies like ReNew Photovoltaics Grew Energy and Avaada ElectroThe Centre is pushing domestic manufacturing through the PLI Scheme for High Efficiency Solar PV Modules backed by a financial outlay of Rs 24000 croreUnder the programme Letters of Award have been issued to set up 483 GW of fully or partially integrated solar module manufacturing capacity in the country According to the latest Approved List of Models and Manufacturers ALMM released on November 25 Indiaâs installed solar PV module manufacturing capacity has reached 12168 GWDuring the first half of FY 202526 India imported more than 180 lakh solar modules worth 38633 million reflecting growing demand alongside a push for local manufacturingGlobally China continues to dominate the solar supply chain with more than 90 per cent share in polysilicon and wafer manufacturing over 85 per cent in solar cells and close to 80 per cent in module productionRating agency ICRA expects Indiaâs solar module manufacturing capacity to cross 165 GW by March 2027This growth is likely to be driven by continued policy support including the ALMM framework that limits direct imports basic customs duties on imported modules and cells and incentives offered under the PLI scheme IANS https://dailyworld.in/business/indias-solar-pli-scheme-generates-43-000-jobs-across-9-states-651535.html Fri, 05 Dec 2025 04:01:00 +0530 https://dailyworld.in/business/gujarat-aggressively-expanding-modern-irrigation-methods-to-boost-productivity-651536.html Ahmedabad Dec 4 Gujaratâs sustained push for efficient water management has delivered strong results with 120 lakh hectares brought under microirrigation in 202425 alone The state has been aggressively expanding modern irrigation methods drip sprinkler raingun and porous pipes to boost productivity while conserving water as per officialsThe initiative stems from a policy vision introduced in 2005 by then Chief Minister and current Prime Minister Narendra Modi who launched the MicroIrrigation Scheme through the Gujarat Green Revolution Company GGRC The goal enable farmers to achieve higher yields using minimal water in an era of globalised and diversified agricultureOver the last two decades more than 1628 lakh farmers have adopted microirrigation across 2505 lakh hectares supported by Rs 922427 crore in incentives Rs 574071 crore from the state government and Rs 348356 crore from the CentreUnder Chief Minister Bhupendra Patel Gujarat has accelerated the shift towards advanced irrigation practices In 2023â24 around 130 lakh hectares were added under microirrigation in 2024â25 another 120 lakh hectares backed by subsidies worth Rs 60542 crore Rs 32942 crore by the state and Rs 276 crore by the CentreAmong districts Banaskantha leads with 488 lakh hectares under microirrigation followed by Junagadh 185 lakh ha and Rajkot 135 lakh haA significant share of Gujaratâs microirrigation adoption comes from middleincome farmers with 892 lakh medium farmers covering 1642 lakh hectares followed by 498 lakh small farmers implementing the system over 590 lakh hectaresAdditionally 183 lakh marginal farmers have adopted microirrigation across 123 lakh hectares while 55000 large farmers have brought 149 lakh hectares under the systemOf the 2505 lakh hectares covered statewide 2052 lakh hectares are under field crops and 452 lakh hectares are under horticulture cropsAmong field crops groundnut accounts for the largest share with 1102 lakh hectares followed by cotton at 756 lakh hectares and sugarcane at 016 lakh hectaresIn horticulture microirrigation has been adopted across 220 lakh hectares of potato 034 lakh hectares of banana 018 lakh hectares of mango and 092 lakh hectares of vegetable cultivation reflecting the systemâs growing importance across diverse crop categories IANS https://dailyworld.in/business/gujarat-aggressively-expanding-modern-irrigation-methods-to-boost-productivity-651536.html Fri, 05 Dec 2025 04:02:00 +0530 https://dailyworld.in/business/nagaland-buyers-suppliers-meet-at-hornbill-festival-promotes-indigenous-products-651540.html Kohima Dec 4 As part of the ongoing 26th edition of the Hornbill Festival at the Naga Heritage Village in Kisama a âBuyers amp Suppliers Meetâ was held on Thursday to boost the marketing of local and indigenous products Officials said that with 24 buyers from across India and 22 MSMEs from Nagaland the twoday event offers a strong opportunity to build lasting scalable relationships The Department of Industries and Commerce in association with Nagaland Industrial Development Corporation NIDC organised the Buyers amp Suppliers Meet 2025 at Bamboo Hall Naga Heritage Village Kisama Speaking at the launching programme Advisor for Industries and Commerce Hekani Jakhalu said that the âBuyers amp Suppliers Meet 2025â under the RAMP Project of the Union Ministry of MSME and welcomed the buyers industry leaders and entrepreneurs noting their shared commitment to strengthening Indiaâs MSME ecosystem and showcasing Nagalandâs vibrant enterprises She highlighted Nagaland as the âLand of Festivalsâ where culture and craftsmanship inspire innovation The stateâs weavers artisans farmers food processors and startups she said embody resilience creativity and the enduring Naga spirit Jakhalu emphasised that the meet is more than a marketplace saying it is a catalyst for collaboration and longterm partnerships With twentyfour buyers from across India and twentytwo MSMEs from Nagaland the event offers a strong opportunity to build lasting scalable relationships The Advisor stressed that connecting small businesses to strong market networks creates significant economic and social impact She also outlined sectors where Nagaland holds competitive strength artisanal fruit beverages herbal and organic teas diverse foodprocessing products and ecofriendly handicrafts and handloom items each reflecting quality sustainability and cultural identity Jakhalu noted that the meet can transform cultural richness into a market opportunity and supports sustainable livelihoods The government she said aims to enhance MSME competitiveness enable market access and integrate Nagalandâs products into wider value chains Beyond institutional goals she underscored the importance of a spirit of collaboration with buyers as mentors and partners and entrepreneurs as innovators eager to evolve Secretary Industries amp Commerce Kumar Ramnikant in his address noted that the meet held under the government of Indiaâs RAMP project is a strategic step toward turning policy into partnership and potential into prosperity He highlighted Nagalandâs cultural richness and entrepreneurial spirit stressing that the state is not merely a source of raw materials but a centre of innovation rooted in tradition Its strengths from skilled artisans to unique products like King Chilli and herbal teas form a distinctive competitive advantage He added that strengths alone are not enough sustainable market linkages are essential and explained that the government is working to foster longterm strategic partnerships positioning buyers as collaborators in shaping quality standards design and scalable production Director Industries and Commerce P Tokugha Sema acknowledged the presence of 24 distinguished buyers from reputed firms from different parts of the country whose participation reflects growing national recognition of Nagalandâs identitydriven products The official also acknowledged the 22 MSMEs from Nagaland artisans food processors farmerled units and microenterprises whose work showcases the stateâs craftsmanship and innovation He stated that the areas of buyer interest including handloom handicrafts home decor artisanal foods herbal teas and processed products align closely with local strengths The platform he said provides opportunities for product evaluation discussions on supply terms and alignment with market standards IANS https://dailyworld.in/business/nagaland-buyers-suppliers-meet-at-hornbill-festival-promotes-indigenous-products-651540.html Fri, 05 Dec 2025 04:13:00 +0530 https://dailyworld.in/business/india-russia-bolster-bilateral-ties-in-fisheries-dairy-sectors-651541.html New Delhi Dec 4 Russia on Thursday said it was ready to import more fish and meat from India and the two countries agreed to strengthen collaboration in emerging aquaculture technologies including deepsea fishing vessels Discussions were held on these issues between Indiaâs Minister of Fisheries Animal Husbandry amp Dairying Rajiv Ranjan Singh and Russias Agriculture Minister Oxana Lut at a meeting in Krishi Bhawan hereDuring the meeting both sides discussed expanding mutual trade in fisheries animal and dairy products resolving market access issues and fasttracking establishment listings for exports The discussions also focused on collaboration in research education and emerging aquaculture technologies including deepsea fishing vessels aquaculture emerging technologies and processing according to an official statement issued after the meetingSingh underlined the potential to diversify Indiaâs exports to Russia with products such as shrimp prawns mackerel sardines tuna crab squid and cuttlefish The Russian side expressed readiness to import fish and fishery products meat and meat products and showed interest in developing the trout market through a joint technical project that could lead to joint ventures the statement saidHe highlighted that India exported fish and fishery products worth 745 billion in 202425 including 127 million to RussiaLut informed about Russiaâs readiness to cooperate in fisheries animal husbandry and dairy sectors building on the successful history of agricultural collaboration She noted that some items are manufactured in Russia and some in India and the products which Russia needs can be supplied by India and the products which India needs can be supplied by Russia to India for strengthening mutual trade She highlighted that India is the secondhighest exporter of shrimp to RussiaSingh thanked Russia for listing 19 Indian fisheries establishments on its Federal Service for Veterinary and Phytosanitary Surveillance FSVPS platform recently taking the total listed Indian establishments to 128 He also requested the Russian minister to expedite the listing of pending establishments regular updates of activity details and the revocation of temporary restrictions He also urged early approvals for Indian entities in the dairy buffalo meat and poultry sectors and assured full cooperation from the Indian side in this regardFor the export of butter and dairy products the minister mentioned that 12 Indian manufacturing companies of dairy products including AMUL Gujarat Cooperative Milk Marketing Federation GCMMF are awaiting registration with the FSVPS He requested the Russian side to consider approving these establishments for listing in FSVPSBoth sides agreed to work on coldwater fisheries including trout genetic improvement in fisheries and aquaculture To achieve this the exchange of expertise including officials researchers and students would be taken up by both sidesIndia proposed the creation of a structured mechanism to advance in these areas to strengthen the cooperation and requested the Russian side to finalise and facilitate the signing of the draft MoU already shared with themLut also emphasised that Russia would like to have cooperation with India in veterinary vaccine development equipment manufacturing and animal disease management She stressed upon further cooperation at the level of Universities research and development institutes from both sides and such cooperation will be further strengthened by collaborative courses exchange of students academia scientists for innovation and advanced technologies the statement added IANS https://dailyworld.in/business/india-russia-bolster-bilateral-ties-in-fisheries-dairy-sectors-651541.html Fri, 05 Dec 2025 04:14:00 +0530 https://dailyworld.in/business/india-enters-defining-phase-in-electronics-manufacturing-as-global-value-chains-shift-icea-651548.html New Delhi Dec 4 Indiaâs electronics manufacturing is entering a defining phase as global value chains realign and the country strengthens its position as a trusted production and export hub an industry body said on Thursday Achieving the national vision of a 500 billion electronics industry requires sustained scale competitiveness and a predictable policy environment across all major manufacturing states the Indian Cellular and Electronics Association ICEA saidUnder the current fiscal support framework India has built a strong foundation led by mobile phones it addedMobile phone production has expanded by more than 2700 per cent whereas exports have multiplied by 130 times and over 13 lakh jobs have been created in the last ten years the ICEA said in a releaseA substantial share of these are firsttime workers especially women who today form the backbone of Indiaâs modern electronics workforceThe expansion of mobile phone manufacturing has catalysed growth in components PCBA chargers wearables audio products industrial electronics aerospace electronics toy manufacturing and other emerging categoriesAccording to the ICEA these sectors collectively deepen Indiaâs supplychain strength and support longterm integration into global value chains Global companies continue to invest with confidence reinforcing Indiaâs credibility in world manufacturingStrong industry interest in the ECMS scheme reflects this momentum ECMS is expected to build indigenous capabilities in components and subassembly ecosystem deepen the value chain and build Indian champions in the coming yearsThe report noted that Karnataka has played a central role in this progress by developing an innovationdriven electronics ecosystem supported by a technologyready workforce and a culture of design and engineering excellenceWith continued industryâgovernment collaboration the state can further advance Indiaâs goals of deeper value addition supplychain resilience component and subassembly development and designled manufacturingKarnataka now accounts for over 213 per cent of Indiaâs mobile phone exports and about 20 per cent of Indiaâs overall electronics exportsOf Karnatakaâs total electronics exports mobile phones comprise nearly 65 per cent the industry body highlightedâWe had detailed discussions with ICEA on opportunities to expand the electronics and mobile manufacturing sector in Karnataka The stateâs investmentfriendly environment strong government incentives and the vision document under preparation position Karnataka to attract more investments create quality jobs and expand advanced technical opportunities for our people state Large and Medium Scale Industries and Infrastructure Development Minister M B Patil saidThis decade provides a significant opportunity for all major states to work closely with industry and the Centre to strengthen Indiaâs electronics value chain Consistent outreach ecosystem development and longterm policy continuity will guide India toward its global electronics aspirations the release said IANS https://dailyworld.in/business/india-enters-defining-phase-in-electronics-manufacturing-as-global-value-chains-shift-icea-651548.html Fri, 05 Dec 2025 04:20:00 +0530 https://dailyworld.in/business/roped-in-foreign-investment-of-rs-500-crore-for-punjab-says-cm-mann-in-japan-651551.html Chandigarh Dec 4 Punjab Chief Minister Bhagwant Mann on Thursday said he had roped in investment of Rs 500 crore as a Japanese steel giant has agreed to expand its collaboration with a steel company in the state Japanese steel giant Aichi Steel signed a memorandum of understanding MoU in the presence of the Chief Minister during his visit to the Japanese company on the third day of his visit to JapanChief Minister Mann said it is a red letter day for the state as the Japanese steel giant better known as the steel arm of Toyota has inked this MoU to give a fillip to the industrial development in the stateThe Japanese steel giant will study future factory operations in Punjab including a feasibility assessment for an investment of about Rs 500 crore he saidMann emphasised that Punjab places a high priority on helping existing Japanese companies grow their business and operations in the state He envisioned that technical cooperation from the Japanese firm would herald a new era of industrial revolution in the stateThe Chief Minister also extended an invitation to the Japanese firms leadership to participate in the Progressive Punjab Investors Summit 2026 on March 1315 2026 in Mohali for encouraging deeper engagement and expanded investmentsThe summit will showcase Punjabs progress bring together leading industrial players and present new opportunities for partnership and collaboration he saidHe expressed hope that Japanese investors will join this summit in a big way and further accelerate the industrial development of the stateThe Chief Minister said the goal of the state government is to create new opportunities for the youth and a stable reliable environment for investorsRecalling Punjabs ties with Japanese industry he added that these relations are already strong and growing adding that several wellknown companies of Japan have placed their trust in Punjab IANS https://dailyworld.in/business/roped-in-foreign-investment-of-rs-500-crore-for-punjab-says-cm-mann-in-japan-651551.html Fri, 05 Dec 2025 04:23:00 +0530 https://dailyworld.in/business/govts-commitment-ensuring-farmers-get-due-respect-and-support-tripura-minister--651554.html Agartala Dec 4 Tripura Agriculture and Farmers Welfare Minister Ratan Lal Nath on Thursday said that the Central and state governmentsâ unwavering commitment to improving the lives of farmers has ensured that cultivators are finally receiving the respect they deserve The Minister while addressing a Workshop and Input Distribution Programme on Plant Variety Protection and Farmers Rights PPV amp FR Act at a Krishi Vigyan Kendra KVK at Salema in Dhalai district said that after Prime Minister Narendra Modi came to power farmers are getting due respect âEven if I wish it is not possible to get certificates there are so many farmers who know better than scientists PM Modi said scientists must go from lab to land help farmers first and then conduct research Farmers are now receiving due respect Farmers are annadata PM Modi has said farmers are the real gods We must serve the farmersâ said the Agriculture Minister He said that the Protection of Plant Varieties and Farmers Rights Act PPVampFRA 2001 is an important Indian law that protects new plant varieties while also recognising the traditional rights of farmers The main objective of this law is to encourage the development of improved varieties protect the rights of farmers and preserve agricultural diversity Nath said He said that the Protection of Plant Varieties and Farmers Rights Authority PPVampFRA Authority is an autonomous body under the Ministry of Agriculture amp Farmers Welfare of India According to the Minister the main purpose of the Act is that crop varieties will be registered in the name of the farmer and the farmer will have all rights over that crop variety It aims to provide protection for seeds of innovative and improved crops recognise the role of farmers in conserving traditional seed varieties ensure farmersâ access to quality seeds encourage research and exploration and establish a system for the registration and legal protection of crop seeds He said that earlier no farmer was seen getting a place on the stage The Minister informed that PM Modi has directed the government to work and provide all kinds of assistance to farmers so that they can benefit India has a population of 145 crore and 20 crore are farmers and in Tripura the population is 4222 lakh and there are 472 lakh farmers who are providing food the Agriculture Minister said He said âNow who is god PM Modi always stresses the development of farmers women youth and the poor and only then can we make Ek Bharat Shreshtha Bharat In our state farmers are getting rights over their products Agriculture has played a key role in the stateâs economic growth Now the percapita income is increasing in Tripura and this has been possible after our government cameâ During the event MLAs Swapna Das Pal Manoj Kanti Deb Chittaranjan Debbarma Smabhu Lal Chakma and others were present IANS https://dailyworld.in/business/govts-commitment-ensuring-farmers-get-due-respect-and-support-tripura-minister--651554.html Fri, 05 Dec 2025 04:27:00 +0530 https://dailyworld.in/business/sampp-raises-reliance-industries-rating-to-a-on-improving-cash-flow-stability-651555.html New Delhi Dec 4 SampP Global Ratings on Thursday raised Reliance Industries Ltds RIL longterm issuer credit rating to A from BBB saying an expansion of more stable consumer businesses will improve the groups earnings and cash flow stability The global rating agency said that RIL will continue to increase cash flow from less cyclical consumerfacing businesses which will improve its earnings qualityThe companys good competitive position across its businesses will further drive earnings and cash flow which should cover heavy investments in key businesses it mentionedAt the same time we raised our longterm issue ratings on the senior unsecured debt the company issued to A from BBBThe stable rating outlook reflects our view that the Indiabased conglomerate will maintain its leading market position in its key businesses and its earnings will be sufficient to cover capital spending over the next 1224 months the note saidIt further stated that Reliance Industries strong position in Indiaâs telco industry will continue to power earnings and profitabilityThe companys wireless subscribers could increase by 3 per cent to 6 per cent over the next 1224 months supported by customer churn from other players that are experiencing subscriber losses due to limited network investmentMeanwhile average revenue per user ARPU for telco subsidiary Reliance Jio could increase on subscribers upgrades to higherpriced plans and higher data consumption in India said SampP in its noteThe company led industrywide tariff hikes in India twice in the pastAccording to the note consolidated EBITDA for Reliance Industries could expand by 12 per cent to 14 per cent to Rs 185 trillion to 195 trillion in fiscal 2026We project digital services and JioStar will contribute about Rs 800 billion or 43 per cent The retail segment could contribute another Rs 270 billion or 14 per cent it added IANS https://dailyworld.in/business/sampp-raises-reliance-industries-rating-to-a-on-improving-cash-flow-stability-651555.html Fri, 05 Dec 2025 04:27:00 +0530 https://dailyworld.in/business/ai-driven-sustainable-development-begins-in-mahs-energy-sector-cm-fadnavis-651561.html Mumbai Dec 5 Chief Minister Devendra Fadnavis on Thursday said that Maharashtra is set to strengthen its power distribution network through a âDigital Twinâ model for solar and other renewable energy sources He said that the distribution company MahaVitaran will soon implement an AIbased digitisation initiative in collaboration with leading international organisations âThis marks the beginning of environmentfriendly and sustainable development through AI technology in the stateâs energy sectorâ he saidHe said that through the cooperation of RF and GEAPP this stateoftheart AIbased global platform will set a benchmark for power utilities across IndiaThe Chief Minister said that AIdriven decisionsupport tools will significantly enhance customer service and help strengthen MahaVitaranâs financial foundation âThe solutions being developed will offer longterm sustainable and effective support to the power distribution sector This is the firstever attempt to develop a Digital Twin for electricity distributionâ he said The Chief Minister added that the innovative AI initiative is expected to drive major improvements in the use of sustainable and ecofriendly green energy especially in rural areasAccording to the Chief Minister farmers and electricity consumers in rural Maharashtra will gain more reliable and easily accessible power through this technology âWith globallevel AI systems and direct energysector collaboration Maharashtra will deploy advanced digital solutions that will increase the accuracy of power flow field operations and energy managementâ he saidThe Energy Department in a release said the initiative will have a significant impact across the sector adding that the digital transformation enables faster projectlevel decisionmaking improves grid efficiency and increases the utilisation of solar energy âWith enhanced green energy use pollution levels will be reduced substantially A reduction of even 1 per cent in power losses could save Rs 10001500 crore annually thereby reducing financial losses considerablyâ said the departmentIt said that owing to international collaboration this initiative could become a major milestone in stabilising power supply and improving service quality in fastdeveloping countries like India âMaharashtra now has an important opportunity to contribute to Indiaâs vision of a sustainable environmentfriendly and selfsufficient energy systemâ it saidThe department said that through Artificial Intelligence AI and digitisation MahaVitaran is gearing up to modernise the stateâs energy infrastructure marking the beginning of a new era IANS https://dailyworld.in/business/ai-driven-sustainable-development-begins-in-mahs-energy-sector-cm-fadnavis-651561.html Fri, 05 Dec 2025 04:37:00 +0530 https://dailyworld.in/business/corporate-lending-grows-at-faster-pace-in-s-korea-in-q3-bok-651570.html Seoul Dec 5 Loans extended to companies in South Korea grew at a faster pace in the third quarter compared with the previous quarter driven by strong demand from the service sector though the construction and real estate fields suffered a prolonged downturn central bank data showed on Friday Outstanding loans to local companies reached 20141 trillion won 137 trillion as of endSeptember up 202 trillion won from three months earlier according to data from the Bank of Korea BOK reports Yonhap news agencyThe increase marked an acceleration from the previous quarter when loans expanded by 145 trillion won amid a sluggish construction industryBy sector loans to manufacturing firms rose by 41 trillion won from three months earlier to 5015 trillion won as of endSeptemberLoans in the service sector surged by 157 trillion won to 12844 trillion won though outstanding loans to the real estate sector declined for the third consecutive quarter to 4686 trillion wonIt marked the first time since the BOK began compiling the relevant data in 2008 that the real estate sector has recorded three consecutive quarterly declines in loansLoans in the construction sector shrank by 10 trillion won to 1028 trillion won marking the fifth straight quarterly declineThe decline in real estate loans was due to the writeoffs and sales of nonperforming loans as part of industry restructuring stemming from the prolonged downturn in the property market in noncapital areas Kim Minsoo chief of the BOKs financial statistics team saidBy purpose operating funds increased by 136 trillion won in the third quarter following an 88 trillionwon gain in the second quarterFacility investment loans advanced by 66 trillion won picking up the pace from a 57 trillionwon increase in the previous quarter the data showed IANS https://dailyworld.in/business/corporate-lending-grows-at-faster-pace-in-s-korea-in-q3-bok-651570.html Fri, 05 Dec 2025 09:37:00 +0530 https://dailyworld.in/business/sensex-nifty-open-lower-as-investors-await-rbis-mpc-decision-651573.html Mumbai Dec 5 Indian equity markets opened slightly lower on Friday as investors awaited the Reserve Bank of Indiaâs key interest rate decision The Monetary Policy Committee MPC will announce the repo rate at 10 AM after concluding its threeday meeting keeping traders cautious at the start of the sessionAt the opening bell the Sensex was at 85187 down 79 points or 009 per cent The Nifty also saw a mild decline slipping 12 points or 005 per cent to 26021Several heavyweight stocks dragged the market with Reliance Industries Trent Tata Steel Bharti Airtel Tata Motors Passenger Vehicles Sun Pharma and Titan trading in the redOn the other hand companies like Eternal BEL Maruti Suzuki Bajaj Finance Kotak Mahindra Bank Infosys and Ultratech Cement were among the top gainers offering some support to the benchmarksIn the broader market sentiment remained soft as the Nifty MidCap index edged down 007 per cent while the Nifty SmallCap index fell 030 per centSectorwise pharma and metal stocks were under pressure with both indices declining 03 per centHowever real estate stocks bucked the trend helping the Nifty Realty index gain 028 per centAnalysts said that the markets traded cautiously ahead of the RBIâs policy outcome with investors keeping a close watch on the central bankâs commentary and the interest rate outlookRupeeâs sharp recovery yesterday to 8997 from the low of 9042 is signalling some sort of stability in the currency marketRBI governorâs views on the rupee today will significantly influence the nearterm direction of the currency analysts said IANS https://dailyworld.in/business/sensex-nifty-open-lower-as-investors-await-rbis-mpc-decision-651573.html Fri, 05 Dec 2025 10:09:00 +0530 https://dailyworld.in/business/delhi-airport-issues-passenger-advisory-urges-flyers-to-check-flight-status-amid-indigo-crisis-651589.html New Delhi Dec 5 Delhi Airport on Friday issued a passenger advisory urging travellers to verify their flight status with airlines before heading to the airport The announcement comes as IndiGo faces one of its most severe operational disruptions in recent years resulting in widespread cancellations and delays This comes as more than 500 flights were cancelled on Thursday with several others delayed In November alone IndiGo recorded 1232 cancellations across its networkThe advisory shared on the social media platform X said Please be advised that operational challenges affecting certain domestic services are resulting in flight delays and cancellationsWe strongly recommend passengers verify their flight status directly with their airline prior to departure for the airport Our dedicated onground teams are working diligently with all partners to mitigate the disruption and ensure an comfortable passenger experience We appreciate your patience and cooperation Delhi Airport saidMeanwhile Civil Aviation Minister Kinjarapu Rammohan Naidu and senior officials from the Ministry of Civil Aviation MoCA held an emergency review meeting with IndiGoâs top management to assess the ongoing situation The Ministry said it is closely monitoring disruptions and has activated heightened oversight The Minister also instructed the Airports Authority of India AAI to direct airport directors to provide full support to affected travellers Additionally the Directorate General of Civil Aviation DGCA has been asked to monitor airfares amid growing concerns of fare hikes due to reduced capacityThe DGCA on Thursday also held a detailed meeting with IndiGoâs leadership seeking clarification on the sharp spike in cancellations IndiGo attributed the situation to operational challenges linked to the implementation of Phase II of the revised Flight Duty Time Limitations FDTL norms crew scheduling hurdles and seasonal winter conditionsThe revised FDTL Civil Aviation Requirements CAR enforced on July 1 and November 1 following court directives aim to enhance safety and reduce pilot fatigue During the meeting IndiGo acknowledged underestimating crew requirements under the new system resulting in planning gaps and staff shortagesThe airline stated that disruptions are likely to continue for the next two to three days as stabilisation efforts continue From December 8 IndiGo will temporarily reduce flight frequency to minimise inconvenience The carrier has also requested temporary relaxation of certain FDTL regulations for A320 aircraft until February 10 2026 and assured DGCA that normal operations will be fully restored by then IANS https://dailyworld.in/business/delhi-airport-issues-passenger-advisory-urges-flyers-to-check-flight-status-amid-indigo-crisis-651589.html Fri, 05 Dec 2025 10:22:00 +0530 https://dailyworld.in/business/rupee-opens-higher-ahead-of-rbi-policy-mcx-gold-slips-651599.html Mumbai Dec 5 Gold prices on the Multi Commodity Exchange MCX slipped slightly in morning trade on Friday as investors waited for the Reserve Bank of Indiaâs RBI monetary policy decision However a weaker US dollar and steady demand in the spot market helped limit the fall in gold ratesDuring early trade before the policy announcement MCX gold February futures were down 014 per cent at Rs 129892 per 10 grams while MCX silver March contracts were up 074 per cent at Rs 179461 per kgMarket participants are closely watching the RBIâs Monetary Policy Committee MPC meetingExperts remain divided on what the central bank may announce because recent macroeconomic indicators have sent mixed signalsIndiaâs headline GDP growth remains strong but weak nominal GDP figures and sluggish manufacturing activity have strengthened expectations of a 25basispoint rate cutGlobally investors are awaiting the US inflation numbers due later today The data will play a key role in shaping expectations about the US Federal Reserveâs next policy move especially after recent mixed economic data from the US has added to uncertaintyMeanwhile the Indian rupee recovered in early trade on Friday rising 9 paise to 8980 against the US dollar ahead of the RBI policy announcementThis rebound comes after a turbulent week in the currency market during which the rupee repeatedly touched new record lowsOn Thursday the rupee opened at 9036 at the interbank foreign exchange market but later strengthened to close at 8989 gaining 26 paiseThe recovery was supported by a drop in the US dollar index and possible intervention by the RBIA day earlier on Wednesday the rupee had breached the 90mark for the first time and closed at 9015 amid pressure from foreign investor selling rising crude oil prices and uncertainty surrounding the delayed IndiaâUS trade deal IANS https://dailyworld.in/business/rupee-opens-higher-ahead-of-rbi-policy-mcx-gold-slips-651599.html Fri, 05 Dec 2025 10:46:00 +0530 https://dailyworld.in/business/rbi-cuts-repo-rate-by-25-basis-points-to-525-per-cent-to-spur-growth-651601.html Mumbai Dec 5 RBI Governor Sanjay Malhotra announced on Friday that the monetary policy committee MPC meeting has unanimously decided to reduce the repo rate by 25 basis points to 525 per cent from 55 per cent earlier to spur growth in the economy The RBI Governor also said that the Central Bank would inject more liquidity in the economy by undertaking open market operations with the purchase of government securities to the tune of Rs 1 lakh crore Besides the RBI would also put in place a dollarrupee swap arrangement of 5 billionMalhotra said that the surge in economic growth to 82 per cent growth in the second quarter of the current financial year and the sharp decline in inflation to 17 per cent had provided a rare âGoldilocks periodâ for the Indian economyHe said that the benign inflation has given headroom to go for a repo rate cut to support growth The RBI has also raised its projection for the countryâs GDP growth to 73 per cent from 68 per cent earlierMalhotra further stated that the RBI has decided to stick to âneutral policy stanceâA neutral stance requires neither stimulation nor curbs on liquidity as it strikes a fine balance between controlling inflation without hurting growth The RBI has been sticking to the neutral stance as it was waiting for the earlier monetary policy easing was still playing out and trade related implications are unfoldingThe RBI Governor also said that the country foreign exchange reserves had touched an impressive 686 billion which was sufficient to provide a robust import cover of 11 monthsHowever at the same time he cautioned that the geopolitical and global trade uncertainty continued to weigh as a downside risk on the economyThe RBI Governor had indicated last week that there was headroom for a repo rate cut to spur growth at the monetary policy review meeting on December 5 due to favourable macroeconomic indicatorsThe monetary policy committee chaired by the RBI Governor had left the repo rate unchanged in the last two reviews held in August and October in order to keep inflation in checkBefore that the RBI reduced the repo rate by 100 bps from 65 per cent to 55 per cent in quick succession between February and June and the transmission to the economy was still working outA lower policy rate and more liquidity with banks leads to a decline in interest rate on bank loans which makes borrowing easier for consumers as well as businesses resulting in more consumption and investments in the economy leading to higher growthHowever the effectiveness of the rate cut hinges on how quickly and efficiently commercial banks pass on the benefits to borrowers IANS https://dailyworld.in/business/rbi-cuts-repo-rate-by-25-basis-points-to-525-per-cent-to-spur-growth-651601.html Fri, 05 Dec 2025 11:00:00 +0530 https://dailyworld.in/business/export-booster-adanis-dighi-port-set-to-handle-2-lakh-cars-a-year-with-motherson-partnership-651602.html Ahmedabad Dec 5 In a significant step towards redefining automotive logistics in India Motherson through its joint venture Samvardhana Motherson Hamakyorex Engineered Logistics Ltd SAMRX on Friday announced an agreement with Dighi Port Limited DPL a subsidiary of Adani Ports to establish a dedicated facility for auto exports at the Dighi Port in Maharashtra As one of APSEZâs 15 strategic ports Dighi is now set to expand its capabilities to support Indiaâs automotive growth story under the âMake in Indiaâ initiative enabling seamless export and import of vehicles for global marketsâBy combining APSEZâs integrated infrastructure capabilities with Mothersonâs expertise we are creating a seamless resilient network for vehicle movement across the country This RoRo Roll on and Roll off terminal will not only accelerate trade and enhance supply chain efficiency but also deliver longterm value to our customers and the communities we serveâ said Ashwani Gupta CEO and Whole time Director Adani PortsThis strategic partnership will make Dighi Port the new automobile exports terminal for exporters in Mumbai to the Pune auto belt said the companyAccording to Laksh Vaaman Sehgal Vice Chairman Motherson Group this partnership with APSEZ is a significant step forward in our mission to provide integrated worldclass logistics solutions to the automotive industryBy developing this RoRo terminal at Dighi Port âwe are enhancing our service portfolio and also creating a strategic asset that will boost efficiency and reduce logistics costs for our OEM partnersâ said Sehgal adding that this collaboration will strengthen Indiaâs automotive supply chain and deliver tangible value to our customersThe new RoRo terminal will feature stateoftheart infrastructure to handle endtoend Finished Vehicle FV logistics streamlining operations for major automotive OEMsSAMRX will invest in the terminal to vertically integrate its services offering a comprehensive logistics solution with 360degree cargo visibilityDighi Port serves as a gateway for Maharashtraâs landlocked industrial corridors and heartland offering closed warehouses tank farms and open stockyards for commodity storageWith a current cargo handling capacity of 633 million tonnes per annum APSEZ commands approximately 28 per cent of Indias total port volumes targeting one billion tonnes throughput by 2030 IANS https://dailyworld.in/business/export-booster-adanis-dighi-port-set-to-handle-2-lakh-cars-a-year-with-motherson-partnership-651602.html Fri, 05 Dec 2025 11:02:00 +0530 https://dailyworld.in/business/rate-cut-to-boost-housing-demand-as-home-loans-to-get-cheaper-651605.html Mumbai Dec 5 The Reserve Bank of Indiaâs decision to cut the repo rate by 25 basis points to 525 per cent is expected to give a strong push to housing demand especially in the affordable and midincome segments as home loan EMIs are likely to come down in the coming weeks Announcing the monetary policy decision on Friday RBI Governor Sanjay Malhotra said the MPC voted unanimously for the rate cut to support growth in the economyHe said the sharp fall in inflation to 17 per cent and the strong 82 per cent GDP growth in the second quarter had created a âGoldilocks periodâ that gave the central bank room to ease ratesReal estate developers and consultants welcomed the move saying it would improve affordability and encourage fencesitters to finally buy homesAnshuman Magazine Chairman amp CEO â India SouthEast Asia Middle East amp Africa at CBRE said the rate cut reflects the RBIâs focus on boosting consumption in a lowinflation environmentHe said lower rates are likely to push banks to transmit earlier cuts more aggressively and support demand across real estate segmentsâFor real estate this is expected to boost the demand and strengthen investment sentiment across segments For home loan borrowers this might bring a tangible relief as floatingrate EMIs will easeâ he addedAnuj Puri Chairman of ANAROCK Group said housing prices across the top seven cities have increased by about 10 per cent in 2025 affecting affordability in interest rateâsensitive segmentsHe said the lower repo rate could encourage buyers who had delayed purchase decisions due to price hikes adding that the real impact would depend on how quickly banks pass on the benefitsHe expects the momentum in the residential market to strengthen further in early 2026âComing on the back of earlier easing cycles this year this move further sweetens the value proposition for homebuyers particularly in the affordable and midincome segments which are highly sensitive to interest rate fluctuationsâ Puri addedJLL India also described the rate cut as a proactive growthfocused step Dr Samantak Das Chief Economist and Head of Research at JLL India said the move leverages Indiaâs strong macroeconomic position and provides a direct boost to homebuyer affordabilityHe said quick transmission is likely because a large share of home loans is linked to external benchmarks which could offer faster EMI reliefâFor the residential sector this is a direct boost to affordability which has been a growing concern amid rising property pricesâ Das added IANS https://dailyworld.in/business/rate-cut-to-boost-housing-demand-as-home-loans-to-get-cheaper-651605.html Fri, 05 Dec 2025 11:16:00 +0530 https://dailyworld.in/business/apple-announces-2025-app-store-award-winners-651614.html New Delhi Dec 5 Apple on Friday announced the winners of the 2025 App Store Awards honouring 17 developers whose apps and games have made a strong impact this year The awards recognise creators who delivered outstanding experiences through innovative technology smooth design and meaningful features that helped users work smarter explore new ideas and enjoy immersive entertainmentThe winners were chosen from 45 finalists by App Store editorsApple CEO Tim Cook said the awardwinning apps and games show how developers across the world continue to push boundaries and make products that enrich peopleâs livesHe added that this yearâs winners represent the creativity and excellence that define the App Store proving how powerful and influential digital experiences can beAmong the standout winners Tiimo impressed users with its visual planner and AIpowered tools that help turn goals into practical stepsDetail was recognised for making advanced video editing more accessible for both new and experienced creators on the iPadEssayist won attention on the Mac for simplifying the process of writing and formatting academic papers with the help of AIApple Vision Pro users experienced Explore POV which transports viewers to breathtaking locations through Apple Immersive VideoOn Apple Watch Strava earned praise for its clean design and realtime tracking features for athletes while HBO Max won recognition for making its platform more inclusive with new American Sign Language contentIn gaming several titles stood out for their creativity and immersive worlds Pokemon TCG Pocket brought card battles to life with exciting gameplay stunning artwork and an interface designed for iPhone usersDREDGE on iPad offered a unique mix of charm and mystery through a cosy yet eerie fishing adventureCyberpunk 2077 Ultimate Edition was recognised for its visually striking futuristic world while WHAT THE CLASH entertained players with silly and unpredictable challengesOn Apple Vision Pro Porta Nubi transformed digital environments into atmospheric puzzle worlds that players could truly feel part of IANS https://dailyworld.in/business/apple-announces-2025-app-store-award-winners-651614.html Fri, 05 Dec 2025 11:47:00 +0530 https://dailyworld.in/business/rbi-raises-indias-gdp-growth-forecast-to-73-pc-651619.html Mumbai Dec 5 The Reserve Bank of India RBI on Friday raised its GDP growth forecast of the Indian economy to a robust 73 per cent for 202526 from 68 per cent earlier on the back of an improved outlook driven by strong agricultural prospects GST rate cuts continuing to play out low inflation and strong balance sheets of corporates and banks Addressing a press conference after the monetary policy committee meeting here RBI Governor Sanjay Malhotra said the surge in economic growth to 82 per cent in the second quarter of the current financial year and the sharp decline in inflation to 17 per cent had provided a rare âGoldilocks periodâ for the Indian economyâLooking ahead domestic factors such as healthy agricultural prospects continued impact of GST rationalisation benign inflation healthy balance sheets of corporates and financial institutions and congenial monetary and financial conditions should continue to support economic activity Continuing reform initiatives would further facilitate growthâ Malhotra explainedOn the external front he said services exports are likely to remain strong while merchandise exports face some headwinds External uncertainties continue to pose downside risks to the outlook while the speedy conclusion of various ongoing trade and investment negotiations presents upside potentialâTaking all these factors into consideration real GDP growth for 202526 is projected at 73 per cent with Q3 at 70 per cent and Q4 at 65 per cent Real GDP growth for Q1202627 is projected at 67 per cent and Q2 at 68 per cent The risks are evenly balancedâ the RBI Governor statedMalhotra pointed out that the countryâs real gross domestic product GDP registered a sixquarter high growth of 82 per cent in Q2202526 underpinned by resilient domestic demand amidst global trade and policy uncertainties On the supply side real gross value added GVA expanded by 81 per cent aided by buoyant industrial and services sectors Economic activity during the first half of the financial year benefited from income tax and goods and services tax GST rationalisation softer crude oil prices frontloading of government capital expenditure and facilitative monetary and financial conditions supported by benign inflationHe further stated that highfrequency indicators suggest that domestic economic activity is holding up in Q3 although there are some emerging signs of weakness in a few leading indicators GST rationalisation and festivalrelated spending supported domestic demand during OctoberNovember Rural demand continues to be robust while urban demand is recovering steadily Investment activity remains healthy with private investment gaining steam on the back of expansion in nonfood bank credit and high capacity utilisationOn the supply side agricultural growth is supported by healthy kharif crop production higher reservoir levels and better rabi crop sowing Manufacturing activity continues to improve while the services sector is maintaining a steady pace he added IANS https://dailyworld.in/business/rbi-raises-indias-gdp-growth-forecast-to-73-pc-651619.html Fri, 05 Dec 2025 11:50:00 +0530 https://dailyworld.in/business/chaos-continues-at-hyderabad-airport-as-indigo-cancels-92-flights-651621.html Hyderabad Dec 5 Utter chaos continued at Hyderabadâs Rajiv Gandhi International Airport RGIA on Friday as IndiGo Airlines cancelled 92 flights for the day For the fourth consecutive day the airline cancelled flights causing severe inconvenience to thousands of passengersA total of 92 IndiGo flights have been cancelled for the day an airport spokesman said These include 43 arrivals and 49 departuresThis is the highest number of flights to be cancelled in four days The airline had cancelled 74 flights on ThursdayA total of 220 flights have been cancelled since December 2The cancellations for the fourth consecutive day triggered a protest by passengers at the terminal building Angry passengers had heated arguments with the IndiGo staffA group of passengers was seen surrounding an official of the airline seeking replies to their queries Passengers complained that flights were cancelled after checkinThe cancellations on key domestic routes severely disrupted the travel plans of the passengers for the fourth consecutive dayA large number of passengers remained stranded at the airport Long queues were seen outside and inside the terminal Tempers were running high in the terminal building as angry passengers confronted the airline staff Some were asking why the airline scheduled the flights when the staff was not available Frustrated passengers had a heated argument with the staff and even raised slogans of âshameâDepartures and arrivals on key domestic routes like Delhi Bengaluru Chennai Kolkata Visakhapatnam Goa Madurai and Bhubaneswar severely inconvenienced passengersA large number of Ayappa devotees were also stranded due to the cancellation of flights to Kochi As a mark of protest the devotees were seen chanting slogans of âSwamiye Saranam AyyappaâAndhra Pradesh Minister Kolusu Partha Sarathy who was at the airport to board a flight to Vijayawada intervened to help Ayyappa devotees He spoke to Civil Aviation Minister K Ram Mohan Naidu over the phone to arrange a special flightThe minister who missed his flight to Vijayawada later left by roadMeanwhile eight IndiGo flights were cancelled at Visakhapatnam airport With flights to key destinations like Hyderabad Chennai Bengaluru and Ahmedabad getting cancelled passengers lodged their protest with the airline staffIndiGo attributed the disruption to âa multitude of unforeseen operational challengesâ including minor technology glitches winterseason driven schedule changes adverse weather increased congestion in the aviation system and the implementation of updated Flight Duty Time Limitations for crewRGIA authorities have advised passengers to check the latest status of their flights with their respective airlines before heading to the airport IANS https://dailyworld.in/business/chaos-continues-at-hyderabad-airport-as-indigo-cancels-92-flights-651621.html Fri, 05 Dec 2025 12:06:00 +0530 https://dailyworld.in/business/who-is-avadhut-sathe-the-popular-finmentor-now-banned-by-sebi-651642.html Mumbai Dec 5 Finfluencer and market trainer Avadhut Sathe has been barred from accessing the securities market after the Securities and Exchange Board of India SEBI accused him of running an unregistered investment advisory business In an interim order SEBI directed Sathe and his company Avadhut Sathe Trading Academy Private Limited ASTAPL to return Rs 54616 crore which the regulator described as unlawful gainsThe action comes after a search and seizure operation at Satheâs Karjat residence and training academy in AugustThe operation was carried out following allegations that Sathe was giving stockspecific recommendations under the cover of investor educationSEBI said the move followed careful planning court permissions and surveillanceSatheâs personal journey has often been highlighted as a rise from humble beginnings He grew up in a Dadar chawl earned an engineering degree and later worked in IT roles abroad in Singapore Australia and the USHe began trading in 1991 and returned to India in 2007 to focus on trading and training fulltimeIn 2008 he set up the Avadhut Sathe Training Academy ASTA which eventually expanded to 17 centres across the countryHis courses combined technical analysis trading psychology yoga and motivational sessions attracting thousands of studentsHis online presence including a YouTube channel with nearly a million subscribers played a major role in his popularityAccording to his website a threemonth residential course at his academy costs between Rs 21000 and Rs 17 lakhIn 2023 he went viral after a video of him dancing during a live trading session spread widely on social mediaSEBI said its investigation found that Sathe and ASTAPL collected Rs 60137 crore from more than 337 lakh investorsThe regulator said Sathe offered actionable stock tips trade levels and specific recommendations even though neither he nor his company was registered as an investment adviser or research analystSEBI said these activities went far beyond normal educational training and directly influenced investors to trade in certain stocksIt also alleged that the academy showcased only profitable trades in its promotions creating a misleading picture of successThe regulator said it needed to act urgently due to the scale of operations and the risk of further harm to investorsIts order also bans Sathe from using live market data offering any advisory services or promoting trading results until the final order is issued IANS https://dailyworld.in/business/who-is-avadhut-sathe-the-popular-finmentor-now-banned-by-sebi-651642.html Fri, 05 Dec 2025 13:17:00 +0530 https://dailyworld.in/business/india-russia-friendship-steady-like-pole-star-amid-global-uncertainty-pm-modi-651686.html New Delhi Dec 5 IANS Hailing IndiaRussia ties Prime Minister Narendra Modi on Friday said that the friendship between the two countries has remained like a pole star amidst the ups and downs faced by the world in the past 80 yearsnbspWhile making a joint press statement with Russian President Vladimir Putin following their talks at the Hyderabad House in New Delhi on Friday PM Modi said that the ties between two nations have stood the test of time and thanked Putin for his friendship and unwavering commitment to India while recalling the efforts made by the Russian leadership to elevate bilateral tiesToday I am delighted to welcome President Putin to the 23rd IndiaRussia Summit today His visit comes at a time when our bilateral relations are experiencing several historic milestones 25 years back President Putin laid the foundation for our strategic partnership 15 years ago in 2010 our partnership was granted the status of a Special Privileged Strategic Partnership For the past two and a half decades he President Putin has nurtured this relationship with his leadership and visionHis President Putin leadership under all circumstances has elevated our ties to new heights I express my heartfelt gratitude to President Putin my friend for this deep friendship and unwavering commitment to India The world has seen many ups and downs over the past eight decades Humanity has faced many challenges and crises and amidst all this the IndiaRussia friendship has remained like a pole star This relationship founded on mutual respect and deep trust has always stood the test of time he addedRecalling recent heinous terror attacks in both countries PM Modi said that India and Russia have stood together in the fight against terrorismToday we also discussed regional and global issues India and Russia have long cooperated shoulder to shoulder in the fight against terrorism Whether its the terrorist attack in Pahalgam or the cowardly attack on Crocus City Hall the root of all these incidents is the same India firmly believes that terrorism is a direct attack on the values of humanity and global unity against it terrorism is our greatest strengthPM Modi announced that India and Russia will cooperate to train Indian seafarers in polar waters We will now cooperate to train Indian seafarers in polar waters This will not only strengthen our cooperation in the Arctic but will also create new employment opportunities for Indias youthReiterating Indias stance on Ukraine conflict he said India has advocated for peace in Ukraine from the very beginning We welcome all efforts to find a peaceful and lasting solution to this issue India has always been ready to contribute and will continue to do soPM Modi also termed energy security as a strong and important pillar of IndiaRussia partnership He stated that cooperation between India and Russia in civil nuclear energy has been crucial in realising shared clean energy prioritiesEnergy security has been a strong and important pillar of the IndiaRussia partnership Our decadesold cooperation in civil nuclear energy has been crucial in realising our shared clean energy priorities We will continue this winwin cooperation Our cooperation in critical minerals is crucial to ensuring secure and diversified supply chains across the world stated PM ModiEarlier taking the IndiaRussia Special and Privileged Partnership ahead PM Modi warmly welcomed President Putin at the Hyderabad House to participate in the 23rd IndiaRussia Annual SummitWith both countries sharing a longstanding and timetested bond the two leaders are holding comprehensive and detailed discussions aimed at further strengthening the bilateral relations https://dailyworld.in/business/india-russia-friendship-steady-like-pole-star-amid-global-uncertainty-pm-modi-651686.html Fri, 05 Dec 2025 15:31:00 +0530 https://dailyworld.in/business/1-232-indigo-flights-cancelled-dgca-steps-in-to-sort-out-issues-651433.html New Delhi Dec 3 Lowcost carrier IndiGo on Wednesday informed the Directorate General of Civil Aviation DGCA that the airline had to cancel a total of 1232 flights of which as many as 755 flights were scrapped due to crew shortage resulting from the flight duty time limitations FDTL norms Another 258 flights were affected due to airspace restrictions while 92 flights were impacted due to ATC system failureThe DGCA said in a statement that it is currently investigating the situation and evaluating measures along with the airline to reduce cancellations and delays in order to minimise the inconvenience being caused to passengersIndiGo has also been asked to report to DGCA Headquarters to present the facts leading to the current situation along with plans to mitigate the ongoing delays and cancellations the statement saidA large share of cancellations arose from crewFDTL compliance and airportairspaceATCrelated factors many of which lie beyond the operatorâs direct control the airline saidIndiGo also informed the DGCA that its overall ontime performance OTP declined to 677 per cent for November vs 841 per cent in OctoberThe DGCA said it has provided further clarification to the airline for streamlining the implementation of the revised FDTL normsAccording to the DGCA statement IndiGo is now taking measures to strengthen crew planning and rostering while adhering to FDTL norms The airline is also enhancing coordination with ATC and airports to manage capacity constraints and improve turnaround and disruptionmanagement processesTravellers are advised to verify flight status through official channels before departure the statement addedIndiGo was forced to cancel scores of flights on Wednesday across major destinations such as Delhi Mumbai Hyderabad and Bengaluru airports mainly due to crew shortages that wreaked havoc with flying schedulesWhile there were some cancellations on Tuesday the situation turned worse on WednesdayIndiGo said in a statement We acknowledge that IndiGoâs operations have been significantly disrupted across the network for the past two days and we sincerely apologise to our customers for the inconvenience causedA multitude of unforeseen operational challenges including minor technology glitches schedule changes linked to the winter season adverse weather conditions increased congestion in the aviation system and the implementation of updated crew rostering rules Flight Duty Time Limitations had a negative compounding impact on our operations in a way that was not feasible to be anticipated the airline statedIndiGo said that to contain the disruption and restore stability the airline has initiated calibrated adjustments to its schedules These measures will remain in place for the next 48 hours and will allow us to normalise our operations and progressively recover our punctuality across the network The airlineâs teams are working around the clock to ease customer discomfort and ensure operations stabilise as quickly as possible Furthermore the affected customers are being offered alternative travel arrangements to reach their destinations or refunds as applicable the airline said in a statementWe request customers to check the latest flight status at httpswwwgoindigoincheckflightstatushtml before heading to the airport the statement added IANS https://dailyworld.in/business/1-232-indigo-flights-cancelled-dgca-steps-in-to-sort-out-issues-651433.html Fri, 05 Dec 2025 00:06:00 +0530 https://dailyworld.in/business/irctc-website-records-9998-pc-uptime-in-april-october-vaishnaw-651434.html New Delhi Dec 3 The uptime of the IRCTC website was 9998 per cent during the AprilOctober period this fiscal compared to 9986 per cent in the same period in the financial year 202425 the Parliament was informed on Wednesday Indian Railways has undertaken both administrative and technological measures for system modernisation Railways Minister Ashwini Vaishnaw told the Lok Sabha in a written reply to a questionAdministrative measures include deactivation of suspicious user IDs lodging complaints on the National Cyber Crime Portal for suspiciously booked PNRs revalidation of user IDs etc he saidSystem Improvement Measures include checks and validations engagement of leading contentdelivering network and an antiBOT application with cuttingedge technology to ensure smooth booking by genuine usersIn addition regular thirdparty audits of IRCTCâs technology infrastructure are being conducted for improvement in the system Meanwhile the share of eticketing has since increased to more than 87 per cent of total reserved tickets booked on Indian RailwaysHowever some complaints are received regarding failed transactions or delayed refund errors which are being monitored regularly for quick resolution Vaishnaw saidThe IRCTC website and mobile apps operate on application programming interface APIbased technology which requires only minimal textbased data exchange between the users device and IRCTC servers the minister highlightedThis ensures efficient performance for ticket booking even in rural areas he saidIn addition the IRCTC has implemented advanced Content Delivery Network CDN solutions which are a global network of servers that deliver static content to users more quickly and reliablyCapacity enhancement and technological upgradation are ongoing processes on Indian Railways subject to the availability of resources and technoeconomic feasibilityIndian Railways serve about 58 crore meals every year on averageAbout only 00008 per cent of complaints are received on average Based on inquiry on these complaints a fine of Rs 28 crore was imposed over the last four years Vaishnaw notedHe further said that Indian Railways continuously works to provide good quality and hygienic food to passengers Several measures have been implemented to ensure better food standards and services across trains and stationsMeals are now supplied from designated base kitchens with modern kitchens being set up at important locationsTo improve monitoring CCTV cameras have been installed in these kitchens Only branded and popular raw materials such as cooking oil rice pulses masalas paneer and dairy products are used for meal preparationFood Safety Supervisors are deployed at base kitchens to oversee hygiene practices while IRCTC supervisors are posted onboard trains to monitor catering services QR codes have been introduced on food packets allowing passengers to check details like the kitchen of origin and packaging dateRegular deep cleaning and pest control are carried out in kitchens and pantry areasEach catering unit is required to obtain mandatory FSSAI certification to ensure compliance with food safety norms Food samples are routinely tested and thirdparty audits are conducted to check hygiene and food quality along with customer satisfaction surveys the minister noted IANS https://dailyworld.in/business/irctc-website-records-9998-pc-uptime-in-april-october-vaishnaw-651434.html Fri, 05 Dec 2025 00:06:00 +0530 https://dailyworld.in/business/sensex-nifty-rise-after-rbi-cuts-repo-rate-651694.html Mumbai Dec 5 IANS Indian stock markets ended higher on Friday after the Reserve Bank of India RBI cut the repo rate by 25 basis points to 525 per centnbspnbspThe Monetary Policy Committee MPC led by Governor Sanjay Malhotra also kept its policy stance neutralAlong with the rate cut the RBI sharply lowered its inflation forecast for FY26 to 2 per cent from 26 per cent and increased its growth projection to 73 per cent from 68 per cent earlierFollowing the announcement the Sensex closed at 8571237 rising 44705 points or 052 per centThe Nifty also ended higher at 2618645 up 1527 points or 059 per cent Analysts said that Nifty closed near 26200 firmly holding above the 26000 psychological markStrong support remains intact in the 2600026100 band which continues to act as the immediate demand base they addedA sustained closing above 26300 is required to unlock the next upside leg towards 2645026600 market watchers mentionedIn the broader market the Nifty MidCap index gained 049 per cent while the Nifty SmallCap index slipped 057 per centMost major sectoral indices finished in the green Nifty PSU Bank was the strongest performer with a 15 per cent riseBanking auto IT metal realty oil and gas and chemical stocks also moved up However media pharma consumer durables and FMCG indices ended lowerOn the Sensex State Bank of India Bajaj Finserv Maruti Suzuki Bajaj Finance and HCL Tech were the top gainersHindustan Unilever Eternal Trent Sun Pharma Tata Motors PV and Bharat Electronics were among the major losers of the dayAnalysts said that Indian markets have enthusiastically responded to the RBIs unexpected 25 bps rate cut a move that seemed unlikely given the strong Q2 GDP dataThis surprise combined with sharply lower inflation forecasts and supportive liquidity measures has triggered a riskon sentiment across equities market experts added https://dailyworld.in/business/sensex-nifty-rise-after-rbi-cuts-repo-rate-651694.html Fri, 05 Dec 2025 16:25:00 +0530 https://dailyworld.in/business/household-net-asset-average-grows-5-pc-in-s-korea-in-2025-bok-651442.html Seoul Dec 4 South Koreas average net assets per household rose 5 per cent from a year earlier in 2025 driven by higher home prices and growth in financial assets though inequality among households continued to deepen central bank data showed on Thursday The average value of net assets held by households stood at 47144 million won US320441 as of endMarch up from 44894 million won a year earlier according to data from the Bank of Korea BOK reports Yonhap news agencyIn detail the average household held total assets worth 56678 million won up 49 per cent from a year earlier as real nonfinancial assets increased 58 per cent to 42988 million won while financial assets rose 23 per cent to 13690 million wonHousehold liabilities climbed 44 per cent to 9534 million won as of endMarch as rental deposits surged 10 per cent to 2739 million won and financial debt gained 24 per cent to 6795 million wonOf all households 57 per cent held net assets of less than 300 million won while 118 per cent had net assets of 1 billion won or more the data showedThe debttoasset ratio stood at 168 percent as of endMarch down 01 percentage point from a year earlier while the ratio of financial debt to savings fell by 01 percentage point to 682 percentThe average household income in 2024 came to 7427 million won up 34 percent from a year earlier with disposable income totaling 6032 million wonInequality among households intensifiedThe average assets held by households in the top 20 percent stood at 133 billion won about 84 times those of households in the bottom quintile which averaged 15913 million won The gap widened from 73 times a year earlierThe netasset Gini coefficient which measures the degree of inequality in net assets came to 0625 marking the highest level since the BOK began compiling related data in 2012The income quintile ratio which means the average income of the top 20 percent divided by that of the bottom 20 percent rose by 006 point from a year earlier to reach 578 timesThe relative poverty rate also increased by 04 percentage point on year the data showed IANS https://dailyworld.in/business/household-net-asset-average-grows-5-pc-in-s-korea-in-2025-bok-651442.html Fri, 05 Dec 2025 01:26:00 +0530 https://dailyworld.in/business/rbis-rate-cut-a-timely-boost-for-growth-investment-and-exports-industry-leaders-651698.html New Delhi Dec 5 Industry leaders across sectors on Friday welcomed the Reserve Bank of Indiaâs decision to reduce the repo rate by 25 basis points to 525 per cent calling it a timely and confidenceboosting step that strengthens Indiaâs economic momentum The RBIâs policy stance supported by a revised GDP growth projection of 73 per cent and liquidityenhancing measures has been seen as creating a favourable environment for investments exports and infrastructure developmentSrinivasan Vaidyanathan Operating Partner at Essar Capital said the rate cut reinforces confidence in Indiaâs longterm growth trajectory and will strengthen sentiment across capital marketsHe noted that lower borrowing costs combined with macroeconomic stability will make it easier for both domestic and foreign investors to deploy funds into highgrowth sectors even amid global uncertaintiesâLower borrowing costs and macro stability will further accelerate private investment even as global uncertainties persist Vaidyanathan statedEssar Oil and Gas Exploration and Production Limitedâs CEO Pankaj Kalra said the RBIâs move will support stronger financial conditions for Indiaâs energy sectorWith the central bank maintaining a neutral stance he said companies will be able to invest more confidently in expanding domestic energy capacity and accelerating the shift toward cleaner fuelsâThis kind of policy stability is essential for building a secure and sustainable energy futureâ Kalra mentionedAshish Rajgarhia Executive Director at Essar Ports said the rate cut provides timely support for Indiaâs infrastructure and logistics ecosystemâStronger growth projections and improved financing conditions create fresh momentum for enhancing supply chain efficiency improving logistics capacity and accelerating infrastructure development across the countryâ Rajgarhia mentionedExporters also strongly welcomed the decision The Federation of Indian Export Organisations FIEO described the rate cut as an encouraging move that will make Indian exports more competitive and ease liquidity pressures on exportersFIEO President S C Ralhan said the reduction in borrowing costs comes at an important moment as exporters face volatile global demand and fluctuating input pricesHe said cheaper credit will help exporters invest more freely in working capital technology upgrades and overseas marketing IANS https://dailyworld.in/business/rbis-rate-cut-a-timely-boost-for-growth-investment-and-exports-industry-leaders-651698.html Fri, 05 Dec 2025 16:28:00 +0530 https://dailyworld.in/business/global-outage-hits-cloudflare-again-disrupting-major-websites-651699.html New Delhi Dec 5 Users worldwide were left grappling with widespread internet disruptions on Friday after Cloudflare â a range of internet services provider to thousands of websites â suffered yet another outage The incident led to access issues in several major platforms including Canva and even Downdetector the highlyused service to track outages Several Indian websites and several services as well as news websites faced the disruption tooThis marks Cloudflares second disruption in less than a month A similar technical issue in November had temporarily knocked out a range of services including Spotify ChatGPT and US President Donald Trumps Truth Social platformTo date Cloudflare has not released an official statement providing details on the cause or extent of the most recent outageThe unexpected shutdown saw irate users throng social media platform X with several hashtags about the outage trending within no time Netizens expressed anger over repeated disruptions highlighting how the service failures had impacted their work business operations and online activitiesAdding to users frustrations even Downdetector â a platform on which people rely to confirm when there are outages â was hit leaving many unsure of the extent of the disruptionAs the rate of the outages has raised some questions users are calling for fast action and more transparent communications from Cloudflare to avoid such situations in the futureLast month Cloudflare witnessed a major global disruption due to an internal configuration mistake Cloudflare CEO Matthew Prince had denied cyberattack speculationsThe outage disrupted several major platforms including X ChatGPT Canva Discord and many other websites and apps around the world In a postmortem Prince explained that the problem began when the company made a change to permissions on a ClickHouse database clusterThe update was meant to improve access to data but a faulty query caused the system to pull in far more information than it should have This error made a key âfeature fileâ used by Cloudflareâs Bot Management system grow too large IANS https://dailyworld.in/business/global-outage-hits-cloudflare-again-disrupting-major-websites-651699.html Fri, 05 Dec 2025 16:29:00 +0530 https://dailyworld.in/business/sensex-nifty-open-lower-amid-weak-global-cues-651444.html Mumbai Dec 4 Indian stock markets opened weak on Thursday as pressure from a falling rupee and continued foreign investor selling kept sentiment muted on Dalal Street The opening also coincided with the weekly FampO expiry for the Sensex adding to the cautious mood among tradersThe rupee hit a fresh record low of 9056 against the US dollar in early trade worsening concerns about capital outflowsThe sustained depreciation has been fuelled by steady foreign investor selling firm demand for the dollar and lingering uncertainty surrounding Indiaâs trade negotiations with the USAgainst this backdrop the benchmark Sensex began the day at 84958 down 148 points or 017 per cent The Nifty opened at 25953 slipping 33 points or 013 per centMost heavyweight stocks on the Sensex traded lower in the morning session HUL Titan Eternal ICICI Bank Power Grid Trent Ultratech Cement Bajaj Finserv Tata Motors PV NTPC Bajaj Finance and HDFC Bank were among the major laggardsOnly a handful of largecap counters managed to stay in the green IT majors TCS HCL Tech Infosys and Tech Mahindra led the gainersâ list supported by a stronger dollar Asian Paints and Bharti Airtel also opened with mild gainsIn the broader market sentiment was mixed The Nifty MidCap index edged up 017 per cent showing some resilience while the Nifty SmallCap index slipped 007 per centMarket participants said the recent pressure on equities is closely linked to the rupeeâs sharp fall After breaching the 90perdollar mark on Wednesday the currencyâs slide has become a key worry for investors raising concerns over imported inflation and higher costs for companies dependent on overseas suppliesWith global cues still uncertain and the domestic currency under strain traders expect markets to remain volatile through the day according to experts IANS https://dailyworld.in/business/sensex-nifty-open-lower-amid-weak-global-cues-651444.html Fri, 05 Dec 2025 01:42:00 +0530 https://dailyworld.in/business/flyers-from-pune-to-patna-facing-hardships-due-to-cancellation-of-indigo-flights-651700.html New Delhi Dec 5 Air passengers travelling with IndiGo across the country on Friday faced severe inconvenience as widespread flight cancellations resulted in long delays confusion and distress Flyers from Pune Bhubaneswar Patna Surat Nagpur and Mumbai reported being stranded at airports many of them with urgent travel needs and no clear communication or assistance from the airline In Pune a distressed passenger told IANS I have been stuck here since yesterday My wife has passed away and her body is still at the hospital I need to take her back home It has already been two days and no help is being providedânot even with travel arrangements or expenses I am in tremendous mental agonyAnother passenger from Pune expressed frustration and said I urge the government to intervene When flights are being cancelled on such a large scale there must be proper guidelines oversight and accountability My leave from work has now been wasted and I am stranded without an alternative The government must take note and ensure such situations are handled betterA third passenger shared a similar experience Until last night our flight was confirmed But in the morning we received a cancellation messageâfollowed by a web checkin notification which confused everyone There is chaos everywhere Our onward travel bookings have also been disrupted and the entire vacation plan has collapsedAnother traveller from Pune said We came to the airport early this morning only to be informed that our flight was cancelled due to a technical fault They are offering a refund but that does not solve our problem We had to travel due to an emergency and there is no assistance or solution being offeredPassengers in other cities also reported difficultiesIn Nagpur a flyer said I travelled from Hathgaon because my daughter had an exam First they said the flight would be delayed by two hours then by one hour and now it is cancelled I have nowhere to stay They said they would refund the ticket but nothing beyond thatIn Mumbai a passenger said We are not asking for a refundâwe just need to reach our destination We request the airline to rebook us If this is due to safety we understand but passengers must be informed properly instead of being left standing without directionAnother Mumbai passenger reported confusion over baggage handling After the cancellation nobody guided us regarding luggage When I asked I was told it was sent to counter 2 and at counter 1 there was no response This lack of coordination is causing panic among travellersSimilar scenes unfolded in Patna Bihar where a large number of passengers reported delays and cancellationsOne passenger from Patna said Our flight on the December 3 was cancelled and now todays flight is also cancelled Nobody knows whether it will operate later or not and ticket prices on other flights are rising rapidlyIn Surat Gujarat a traveller shared When I reached the airport I was informed that my flight was cancelled and rescheduled for tomorrow Now Im unsure whether tomorrows flight will also face the same fateIn Bhubaneswar Odisha international travellers were among the affectedA passenger complained There has been no proper communication Since last night I have requested to be shifted to any available flight to Bengaluru as I have an international connection Tickets on other flights are unavailable The government must step inâpassengers are helpless and anxiousEarlier in the day Delhi Airport issued a fresh passenger advisory announcing that all IndiGo domestic flights departing from the airport are cancelled until midnightDelhi Airport took to social media X and said IndiGo domestic flights departing from Delhi Airport on December 5 are cancelled till midnight today till 2359 hours Operations for all other carriers remain as scheduledIt further added Our dedicated onground teams are working diligently with all partners to mitigate the disruption and ensure a comfortable passenger experience For the latest flight status please check our official website wwwnewdelhiairportin IANS https://dailyworld.in/business/flyers-from-pune-to-patna-facing-hardships-due-to-cancellation-of-indigo-flights-651700.html Fri, 05 Dec 2025 16:30:00 +0530 https://dailyworld.in/business/india-emerges-as-significant-electronics-manufacturer-in-11-years-minister-651701.html New Delhi Dec 5 India has emerged as a significant electronics manufacturer and as a result of robust policy efforts electronics manufacturing has grown almost six times in last 11 years â increasing from Rs 19 lakh crore in 201415 to Rs 1132 lakh crore in 202425 the Parliament was informed on Friday In 2020 the government launched the productionlinked scheme PLI for largescale electronics manufacturing The target segment included mobile phones and certain specified components The scheme has attracted investment of Rs 14065 crore said Union Minister of State for Electronics and IT Jitin Prasada in Rajya SabhaTo target manufacturing of IT Hardware the government launched PLI for IT Hardware for promoting manufacturing of laptop tablets server and ultra small form factor USFF devicesâPLI for IT hardware have attracted investment of Rs 846 crore till dateâ said the ministerAdditionally the government has brought in multiple reforms in taxation customs duty and FDI etc to facilitate electronics manufacturingIn last 11 years total number of mobile manufacturing units have increased from 2 to more than 300 Since the launch of PLI for largescale electronics manufacturing Mobile manufacturing has increased from 22 lakh crore in 202021 to 55 lakh croreElectronics exports has grown eight times from Rs 38000 crore in 201415 to Rs 326 lakh crore in 202425 Electronics is now the third largest export categoryMobile exports have increased from about Rs 22000 crore to more than Rs 22 lakh crore Industry estimates that electronics sector now provides employment to approximately 25 lakh peopleTo further deepen the value chain the government launched ECMS scheme in 2025 The scheme focuses on promoting domestic manufacturing of Printed Circuit Board electrical and mechanical components camera modules etc Against the estimated investment proposals of Rs 59350 crore the government has received investment proposals of Rs 115 lakh croreIn less than three years 10 semiconductor units have been approved with cumulative investment of 16 lakh crore IANS https://dailyworld.in/business/india-emerges-as-significant-electronics-manufacturer-in-11-years-minister-651701.html Fri, 05 Dec 2025 16:30:00 +0530 https://dailyworld.in/business/rupee-opens-lower-as-fii-outflows-continue-651448.html Mumbai Dec 4 The Indian rupee continued its sharp fall on Thursday sliding 22 paise and remaining well above the 90perdollar mark amid weak global cues The currency has been under pressure due to persistent equity outflows and the lack of clarity around the IndiaUS trade deal according to market expertsThe rupee opened weaker at 9041 against the US dollar compared to its previous close of 9019 This decline came just a day after the rupee breached the psychologically important 90 mark for the first time on December 3 when it hit a new alltime lowDespite the steep fall the Reserve Bank of India has so far refrained from heavy intervention which analysts say is contributing to the pressure on the currencyExperts believe the central bank may address the rupeeâs recent weakness in its upcoming monetary policy announcement However they also expect the RBI to avoid giving any specific comfort levels or targets for the currency even as depreciation concerns growMeanwhile Indian domestic indices opened lower as continued foreign investor selling kept sentiment muted on Dalal Street Analysts said that the opening also coincided with the weekly FampO expiry for the Sensex adding to the cautious mood among tradersForeign institutional investors FIIs extended their selling streak for the third consecutive session on December 3 offloading equities worth Rs 3692 crore Meanwhile domestic institutional investors DIIs continued their steady accumulation purchasing Rs 4730 crore during the same sessionThe positive factor is Indiaâs improving fundamentals robust economic growth low inflation supportive monetary and fiscal policies and indications of steadily improving corporate earnings according to market watchersThey added that it is important to understand that the negative factor may weigh on the market in the nearterm but the positive factor will dominate in the midterm enabling the market to resume its upward journey IANS https://dailyworld.in/business/rupee-opens-lower-as-fii-outflows-continue-651448.html Fri, 05 Dec 2025 01:46:00 +0530 https://dailyworld.in/business/lok-sabha-passes-health-security-se-national-security-cess-bill-amid-debate-651711.html New Delhi Dec 5 IANS The Lok Sabha passed the Health Security Se National Security Cess Bill through a voice vote after a charged debate that witnessed both support and sharp criticism from members across party linesnbspUnion Finance Minister Nirmala Sitharaman piloting the legislation clarified that the proceeds of the cess would be strictly ringfenced for two purposes strengthening Indias national security and supporting public healthnbspShe emphasised that the levy was Constitutionally empowered under Article 270 fully accountable to the Parliament and subject to oversight by the Comptroller and Auditor General of IndiaPassing the Bill Minister Sitharaman said That the Bill to augment the resources for meeting expenditure on national security and for public health and to levy a cess for the said purposes on the machines installed or other processes undertaken by which specified goods are manufactured or produced and for matters connected therewith or incidental thereto be taken into considerationnbspShe thanked all the Members of Parliament for participating in the debate and noted that she would restrict her responses due to paucity of timenbspExplaining the framework the Union Finance Minister said the cess would be confined to demerit goods such as pan masala and levied on production capacity a longestablished method in excise law designed to curb evasionShe assured the Members of Parliament that any changes in rates or goods would require parliamentary sanction thereby ensuring transparency and public interestPart of the cess collected will be spent on public health and the other part on defence Public health is a state subject defence is on the Union List We need to raise resources to match todays needs she saidnbspOpposition members however raised multiple concerns over the BillnbspCongress MP Shashikanth Senthil described the Bill as a blank cheque to the Union government saying that it lacked clarity on which schemes in health or national security would be fundednbspHe also criticised the harsh penalties likening them to provisions in the Prevention of Money Laundering ActDMK MP T Sumathy questioned the linguistic hybrid title of the Bill demanding that the word se be replaced with for to make the law linguistically neutralnbspTrinamool Congress MP Saugata Roy objected to Union Minister Sitharaman speaking in Hindi saying he could not follow the Ministers remarks prompting a sharp response from her that translation services were availablenbspConcerns about federalism also surfacednbspCongress MP Prabha Mallikarjun said that since the cess was outside the divisible pool states would not receive their share despite being responsible for most public health expenditureNCPSP MP Supriya Sule asked why the levy was introduced as a cess rather than a tax warning that provisions allowing rates to be doubled without returning to Parliament undermined legislative scrutinynbspOther members including Umeshbhai Patil and Hanuman Beniwal highlighted the ineffectiveness of bans on liquor gutkha and pan masala suggesting regulation instead of prohibitionnbspUnion Finance Minister Sitharaman countered that the Union governments intent was to make demerit goods less affordable while raising resources for critical national prioritiesnbspDespite the objections the Bill was passed with the Union government insisting that its twin focus on health and national security was both urgent and justified https://dailyworld.in/business/lok-sabha-passes-health-security-se-national-security-cess-bill-amid-debate-651711.html Fri, 05 Dec 2025 17:39:00 +0530 https://dailyworld.in/business/india-russia-strengthen-economic-ties-across-sectors-651713.html New Delhi Dec 5 IANS Prime Minister Narendra Modi and Russian President Vladimir Putin have reaffirmed their shared ambition to expand bilateral trade in a balanced and sustainable manner including by increasing Indias exports to Russia strengthening industrial cooperation forging new technological and investment partnerships especially in advanced hightechnology areas and finding new avenues and forms of cooperation according to a joint statement issued on Friday after their meeting herenbspThe leaders welcomed the adoption of the Programme for the Development of Strategic Areas of IndiaRussia Economic Cooperation till 2030The two leaders appreciated the ongoing intensification of the joint work on a Free Trade Agreement on goods between India and the Eurasian Economic Union covering sectors of mutual interest They also directed both sides to intensify efforts in negotiations on a mutually beneficial agreement on the promotion and protection of investments the statement saidnbspRussia and India have agreed to continue jointly developing systems of bilateral settlements through the use of national currencies in order to ensure the uninterrupted maintenance of bilateral trade Additionally both have agreed to continue their consultations on enabling the interoperability of the national payment systems financial messaging systems as well as central bank digital currency platformsThe two sides welcomed steps to ensure the longterm supply of fertilisers to India and discussed the potential establishment of joint ventures in this areanbspBoth welcomed the signing of agreements related to the mobility of skilled workers between the two countries for taking up employmentnbspThe two leaders also noted the importance of productive and mutually beneficial bilateral trade in mineral resources including energy sources precious stones and metals as well as critical raw materials for the reliability of the international supply chains Efficient cooperation in this area carried out by Russia and India as sovereign states is a significant component of their national security and social wellbeing the statement addedBesides the two sides discussed and commended their wideranging cooperation in the energy sector as a significant pillar of the Special and Privileged Strategic Partnership They noted the current and potential cooperation between Indian and Russian companies in fields such as oil and oil products oil refining and petrochemical technologies oilfield services and upstream technologies and related infrastructure LNG and LPG related infrastructure various existing projects in their countries underground coal gasification UCG technology nuclear projects etcnbspThey also noted the importance of expeditious resolution of issues related to investment projects in this area and agreed to resolve the various concerns being faced by their investors in the energy sector the statement added https://dailyworld.in/business/india-russia-strengthen-economic-ties-across-sectors-651713.html Fri, 05 Dec 2025 23:14:00 +0530 https://dailyworld.in/business/gold-silver-prices-ease-on-mcx-amid-profit-booking-651460.html Mumbai Dec 4 Gold and silver prices slipped in the morning trade on Thursday as investors booked profits after the US dollar strengthened against major currencies The demand in the spot market also remained weak which added to the pressure on precious metalsOn the Multi Commodity Exchange MCX gold February futures fell 013 per cent to Rs 130288 per 10 gramsâMCX Gold has extended its upmove and created a fresh high near Rs 131400 and is now approaching its lifetime resistance zone at Rs 132294 which continues to act as a key breakout hurdleâ experts saidâA clean and sustained close above Rs 132300 can accelerate the rally toward Rs 134400âRs 135500â they addedSilver March futures were also down 008 per cent trading at Rs 182200 per kilogramMCX Silver continues to remain exceptionally bullish supported by global Silver strength and rupee weaknessâA sustained breakout above Rs 184000 could extend the rally toward Rs 186000âRs 188000â analysts saidâImmediate support is placed near Rs 181700âRs 180300 while the previous high near Rs 171750 now acts as a powerful longterm support zoneâ experts mentionedThe dollar index regained the 99 level after touching 9885 in the previous sessionHowever its rise was limited because traders are expecting the US Federal Reserve to cut interest rates soonBack home the marketâs attention is now on the Reserve Bank of Indiaâs Monetary Policy Committee meeting scheduled for December 5Experts remain divided on what the RBI may do next Some analysts believe the central bank might announce a 25basispoint rate cut while others expect the RBI to keep interest rates unchanged for the third straight policy reviewGlobally gold traders are waiting for a major trigger from the US Federal Reserve The Federal Open Market Committee will meet on December 9 and 10 to decide on benchmark interest rates and a rate cut could push gold prices higher IANS https://dailyworld.in/business/gold-silver-prices-ease-on-mcx-amid-profit-booking-651460.html Fri, 05 Dec 2025 02:02:00 +0530 https://dailyworld.in/business/price-of-eggs-rise-may-affect-its-availability-in-bengal-schools-mid-day-meals-651462.html Kolkata Dec 4 Midday meals in government schools of West Bengal may lack eggs due to the price hike Anganwadi workers said While the government allocation for each egg is only six and a half rupees it is becoming increasingly difficult to provide food with eggs in Anganwadi centres as the retail price of each egg has increased to Rs 8As a result Anganwadi workers and helpers have been vocal about increasing the government allocation for eggsMembers of the Independent Anganwadi Workers and Helpers Association have submitted a deputation to the officials of the Integrated Child Development Services ICDS office in Mal Bazar of Jalpaiguri district demanding that the price of eggs be fixed according to market priceThey also demanded an increase in allocation for the nutritional development of mothersOn behalf of the organisation Nabanita Majumder said on Thursday Although the market price of each egg is Rs 8 the government allocation is six and a half rupees If the price of eggs keeps rising in the market then how will we buy eggs for MidDay Meals I have raised the issue with the officialsAccording to her if the allocation is not increased then it will be difficult to provide eggs in the Midday MealParents are complaining about not getting eggs at the Anganwadi centres Anganwadi workers and helpers are facing problems added MajumderRegarding the deputation ICDS Mal Bazar Block Officer Sayak Das told a section of reporters The price of eggs has increased in the market The matter has been reported to the higher authorities Today a demand has been made for an increase in the allocation The matter will be reported to the higher authorities again IANS https://dailyworld.in/business/price-of-eggs-rise-may-affect-its-availability-in-bengal-schools-mid-day-meals-651462.html Fri, 05 Dec 2025 02:06:00 +0530 https://dailyworld.in/business/as-bank-frauds-rise-isg-introduces-one-tap-biometric-authentication-solution-for-safer-transactions-651468.html Mumbai Dec 4 JP Morganbacked fintech company InSolutions Global ISG has launched a new biometric authentication solution to strengthen ecommerce security as digital frauds in India surged to Rs 36014 crore nearly tripling year on year Developed in collaboration with German Internet of Things IoT company GieseckeDevrient GD ISGâs new product ISG Authify replaces passwords and onetime passcodes with passkeybased biometric verification The technology offers a onetap authentication flow designed to minimise friction while keeping credentials anchored to a userâs deviceThe launch comes on the heels of the Reserve Bank of India RBI pushing for stronger controls ahead of new authentication guidelines that will come into effect in April 2026 ISG Authify enables banks to achieve regulatory compliance smoothly while enhancing customer trust and devicelevel protectionâThis marks a major milestone in redefining digital trust for ecommerce transactionsâ said Anil Jain Chief Product amp Delivery Officer at InSolutions Global LtdâWith biometric authentication weâre not just enhancing security weâre transforming the user journey into a frictionless OTP less experience Our collaboration with GD a global leader in security tech serves as a technical arm for this integration ensuring scalability performance and adherence to global authentication standards FIDOâ Jain addedPasskeys rely on a cryptographic key pair in which the public key sits on the server and the private key is held securely on the consumerâs device Since the private key never leaves the device and is unlocked only through biometric validation the system is resistant to phishing attempts and credential harvestingThis solution is important for banks access control servers and mobile banking apps By leveraging devicebased biometric validation ISG Authify ensures that every transaction is protected to offer both convenience and confidence to consumersAdelia Castelino Cofounder and Managing Director at ISG said ISG Authifyâs goal is to empower businesses and consumers with intuitive compliant and phishingresistant technology âWith biometric authentication we are one step closer to making digital trust the foundation of every online transactionâ Castelino saidGD said the technology represents the next phase in digital identity security âPasskeys represent a major leap in the evolution of authentication By replacing vulnerable PINs passwords and OTPs with devicebound cryptographic passkeys this ensures strong phishingresistant security without compromising on user experienceâ said Tapesh Bhatnagar Head of Digital Solutions Sales GD IndiaISG which operates across India the Middle East and Asia Pacific said ISG Authify is part of a broader push to help banks and merchants upgrade to more intelligent secure and interoperable payment infrastructure as transaction volumes migrate rapidly to digital channels IANS https://dailyworld.in/business/as-bank-frauds-rise-isg-introduces-one-tap-biometric-authentication-solution-for-safer-transactions-651468.html Fri, 05 Dec 2025 02:18:00 +0530 https://dailyworld.in/business/tech-must-serve-humanity-not-the-other-way-around-arundhati-bhattacharya-president-amp-ceo-salesforce-south-asia-651470.html Mumbai Dec 4 Asiaâs rapid push into AI has prompted a warning from Salesforce South Asia chief Arundhati Bhattacharya who said the regionâs next wave of technological growth must prioritise humancentric design Addressing business leaders and policymakers at the Mint All About AI Tech4Good Awards she said advances in digital finance health care and education are accelerating at a pace that demands new safeguardsâTechnology must serve humanityâ she said calling on companies to embed ethics privacy and accountability into the foundation of their AI systemsThe event now in its second year featured innovators from Singapore Malaysia the Philippines and IndiaBhattacharya who formerly led the State Bank of India said she has watched technology reshape economic systems from within Indiaâs experience in financial inclusion she noted shows how digital infrastructure can lift entire communities A combination of Aadhaarbased identity widespread mobile access and instant payments created one of the worldâs largest financial inclusion programmes in a matter of years she addedâI have witnessed with my own eyes how technology can ignite potential and uplift communities from the ground upâ she saidAccording to her tools such as generative AI and machine learning can accelerate diagnosis in healthcare widen access to education through adaptive learning and help governments deliver services faster But the same technologies she said can amplify bias erode privacy or outpace regulation if deployed without clear frameworksâThe responsibility lies with us to ensure that technology serves humanityâ she saidThe regionâs push for sovereign AI models has intensified this year driven both by national policy and concerns about the influence of global platformsBhattacharya said locally trained systems will matter for languages cultural nuance and longterm resilience She urged developers and businesses to treat âguardrailsâ not as constraints but as âessential infrastructureâ for longterm trust IANS https://dailyworld.in/business/tech-must-serve-humanity-not-the-other-way-around-arundhati-bhattacharya-president-amp-ceo-salesforce-south-asia-651470.html Fri, 05 Dec 2025 02:30:00 +0530 https://dailyworld.in/business/cm-mohan-yadav-flags-off-shikaras-in-bhopals-upper-lake-651475.html Bhopal Dec 4 To enhance tourism while respecting environmental safeguards Madhya Pradesh Chief Minister Mohan Yadav on Thursday flagged off shikaras in Bhopals iconic Upper Lake State Assembly Speaker Narendra Singh Tomar MP BJP chief Hemant Khandelwal LoP Umang Singhar Bhopal Mayor Malti Rai and Haryana Assembly Speaker Harvinder Kalyan who has arrived in Bhopal also joined the ceremonial event at Uppar LakeBhopal will emerge as a new centre of tourism through the operation of Shikaras in the most beautiful Upper Lake in the city Its a matter of pride to have such a lake in Madhya Pradesh CM Yadav saidHe also expressed that in Jammu and Kashmir lakes have long been cherished for their natural beauty and waterbased experiencesNow people visiting Bhopals Upper Lake can also enjoy shikara rides Upper Lake is poised to offer a comparable experience elevating its status as a premier destination CM Yadav said while taking a ride on the shikaraNotably an announcement to introduce Shikaras in line with the Dal Lake in Jammu and Kashmir was planned during Tiranga YatraShikaras traditionally wooden boats associated with the serene waters of Kashmirs Dal Lake are used for sightseeing transportation fishing and harvesting aquatic vegetationThese traditional boats he said are already generating public interest and are being promoted as a promising tourism initiative by the states Tourism DepartmentCM Yadav also stated that the state government is actively working to make this vision a reality further enhancing the appeal and accessibility of our water bodies for residents and visitors alikeA portion of it is designated as a Ramsar site underscoring its ecological importance However the lakes tourism potential has long been constrained by environmental regulationsIn 2023 the National Green Tribunal NGT prohibited the use of motorised boats and cruise vessels on the lake citing the need to preserve its ecological integrityThe tribunal emphasised that water bodies are public assets and must be protected from commercial exploitationIn response to these restrictions the Madhya Pradesh Tourism Development Corporation has pivoted to a more sustainable alternative In June the Corporation announced that the idea of Shikara rides was taking shape with ten boats already introduced and 20 more plannedThese boats will not only offer scenic rides but also host floating shops creating a vibrant immersive experience for tourists The initiative is being positioned as a fusion of Kashmiri charm and Bhopals local heritageOfficials are optimistic that the initiative will succeed and expand offering a peaceful alternative to the previously banned motorised cruisesThe move has been welcomed by residents and environmentalists alike who see it as a thoughtful balance between tourism development and ecological preservationThe Upper Lake also known as Bada Talab or Badi Jheel spans over 31 square kilometres and was constructed in the 11th century IANS https://dailyworld.in/business/cm-mohan-yadav-flags-off-shikaras-in-bhopals-upper-lake-651475.html Fri, 05 Dec 2025 02:34:00 +0530 https://dailyworld.in/business/sliding-rupee-not-a-sign-of-weakness-driven-by-global-uncertainty-sbi-research-651476.html New Delhi Dec 4 The rupee may have slipped past the psychological barrier of 90 against the US dollar but this slide is not a sign of weakness a new SBI Research report said on Thursday The data compiled by the SBI Research said that the recent depreciation is driven largely by global uncertainty delays in the USIndia trade deal and foreign portfolio outflows rather than any deterioration in Indiaâs economic fundamentalsAccording to the report the recent fall in the rupee has been mainly driven by three factors uncertainty around the IndiaUS trade deal foreign portfolio outflows from equities after two strong years of inflows and the Reserve Bank of Indiaâs clear stance of avoiding excessive intervention in the currency marketAt the same time the offshore nondeliverable forward NDF market has gained momentum while the US dollar index is showing signs of strengtheningThe report showed that concerns about a widening trade deficit pushing the rupee down are not fully accurateBetween April and October Indiaâs goods and services deficit stood at 78 billion only slightly higher than 70 billion in the same period last yearExperts believe that negative sentiment around trade numbers has been oversold in the marketsSince April 2 when the US announced steep tariff hikes on multiple countries the Indian rupee has depreciated around 55 per cent against the dollar more than most major global currenciesThe 50 per cent tariff imposed on India is much higher than the tariff levels imposed on China Vietnam Indonesia and JapanThis the report said is one of the biggest reasons behind the current pressure on the rupee even though India has been trying to diversify its exports and push new freetrade agreementsNearly 45 billion worth of Indian exports mostly labourintensive products are expected to be directly impacted by the US tariffs the report added IANS https://dailyworld.in/business/sliding-rupee-not-a-sign-of-weakness-driven-by-global-uncertainty-sbi-research-651476.html Fri, 05 Dec 2025 02:40:00 +0530 https://dailyworld.in/business/over-157-lakh-passengers-benefit-from-327-lakh-udan-flights-minister-651481.html New Delhi Dec 4 More than 157 lakh passengers have been benefited from the operation of 327 lakh Regional Connectivity SchemeUDAN flights connecting various destinations across the country including tier 2 cities the Parliament was informed on Thursday During 202425 two airports namely Amravati and Solapur have been developed and operationalised in MaharashtraAlso during the period of January 2024 to November 2025 34 RCS routes have been operationalised in Maharashtra connecting various airports across the country including those located in tribal or backward districts Minister of State for Civil Aviation Murlidhar Mohol said in a written reply to a question in the Lok SabhaAccording to the minister Viability Gap Funding VGF support and various concessions are provided to airline operators to incentivise their participation and ensure affordabilityâAs on date an amount of Rs 4352 crore has been disbursed to support the selected airline operators in the form of Viability Gap Funding VGF under the schemeâ the minister informedThe government monitors the utilisation and performance of UDAN routes through parameters such as load factor ontime performance aircraft deployment and service sustainability which are periodically reviewed through a structured monitoring mechanismAirports located in tribal or remote districts including operational UDAN airports in Maharashtra are regularly assessed and the routes meeting the prescribed performance criteria continue to receive support to ensure sustained and reliable regional air connectivity in such underserved regions said MoholToday UDAN stands as one of Indiaâs most celebrated achievements quietly weaving prosperity into the nationâs social and economic fabric Indiaâs civil aviation sector has grown faster than most global markets catapulting the country into the top three domestic aviation markets worldwideUnder the UDAN scheme 649 routes have been operationalised connecting 93 unserved and underserved airports which include 15 heliports and 2 water aerodromes IANS https://dailyworld.in/business/over-157-lakh-passengers-benefit-from-327-lakh-udan-flights-minister-651481.html Fri, 05 Dec 2025 02:45:00 +0530 https://dailyworld.in/business/lower-temperatures-cool-power-demand-in-india-to-123-billion-units-in-nov-651488.html New Delhi Dec 4 Lower temperatures cooled power demand by an estimated 03 per cent to 123 billion units BUs in November compared with 124 BUs in the yearago period a report said on Thursday This comes after a nearly 6 per cent onmonth degrowth in October Among others Madhya Pradesh logged an 11 per cent decline in demand due to severe cold wave conditions while Rajasthan saw demand dip 7 due to cold weather Crisil Intelligence said in its reportMeanwhile power generation increased marginally by 05 per cent yearoveryear to 134 BUs in NovemberRenewable energy REbased generation is estimated to have increased by 17 per cent yearoveryear marking the eighth consecutive rise this fiscal year This generation growth can be attributed to rising capacity additionsConversely coalbased power generation declined for a second time this quarter Consequently coal accounted for 72 per cent of the total power output as compared to 75 per cent a year ago highlighting the ease it offers in ramping production up or down in sync with power demandAccording to the report as of November 30 thermal power plants had 54 million tonnes MT of coal and coal inventory stood at 18 days compared with 14 days in the same month a year ago This increase in inventory comes amid offtake to the power sector declining 55 per cent onyear in November it declined 317 per cent onyear from AprilOctoberThis highlights the lower demand for thermal coal from the power sector due to expansion in RE generation the report addedDespite the decline power demand is expected to track economic growth this fiscalWe estimate power demand will increase 13 per cent onyear this fiscal to 17151725 BU sustained by steady economic performance and increasing disposable income the report statedVagaries of the weather will likely limit power demand growth The economy is forecast to maintain its 7 per cent gross domestic product growth rate in the fiscal year the report noted IANS https://dailyworld.in/business/lower-temperatures-cool-power-demand-in-india-to-123-billion-units-in-nov-651488.html Fri, 05 Dec 2025 02:52:00 +0530 https://dailyworld.in/business/chaos-continues-at-hyderabad-airport-74-flights-cancelled-651493.html Hyderabad Dec 4 Chaos continued at Hyderabads Rajiv Gandhi International Airport RGIA on Thursday as IndiGo Airlines cancelled 74 flights for the day For the third consecutive day the airline cancelled several flights causing severe inconvenience to thousands of passengersA total of 74 IndiGo flights have been cancelled for the day an airport spokesman said These include 37 arrivals and 37 departuresWith their travel plans disrupted due to delays and cancellations passengers were seen stranded at the airport for several hoursThere were long questions outside and inside the terminal Tempers were running high in the terminal building as angry passengers confronted the airline staff Some were asking why the airline scheduled the flights when the staff was not available Frustrated passengers had a heated argument with the staff and even raised slogans of shamePassengers complained that the airline officials were not available to answer their queries One of the passengers said he and his wife had a flight to Mumbai scheduled for Friday morning and the airline sent him rescheduled tickets to Saturday and that too on different flights for him and his wife He said all helplines of the airline were not functioningThe passengers were also agitated over the lack of sufficient seating arrangementsOn December 2 IndiGo had cancelled 40 flights at Hyderabad Nineteen departures and 21 arrivals were cancelled during the dayAccording to airport sources nine departures and five arrivals were cancelled on December 2Departures and arrivals on key domestic routes like Delhi Bengaluru Chennai Kolkata Visakhapatnam Goa Madurai and Bhubaneswar left passengers strandedIndiGo attributed the disruption to âa multitude of unforeseen operational challengesâ including minor technology glitches winterseason driven schedule changes adverse weather increased congestion in the aviation system and the implementation of updated Flight Duty Time Limitations for crewRGIA authorities have advised passengers to check the latest status of their flights with their respective airlines before heading to the airportWe are aware that a few flights at RGIA are experiencing delays and schedule changes due to operational reasons Our teams at the airport are working closely with the Airlines to support their operations and assist passengers with timely information and guidance reads an advisory posted by RGIA on social media platforms IANS https://dailyworld.in/business/chaos-continues-at-hyderabad-airport-74-flights-cancelled-651493.html Fri, 05 Dec 2025 03:01:00 +0530 https://dailyworld.in/business/mumbais-worli-accounts-for-40-pc-of-ultraluxury-residential-transactions-651494.html New Delhi Dec 4 Worli in the Mumbai Metropolitan Region has become the epicentre of Indiaâs wealth concentration accounting for 40 per cent of the countrys ultrahighnetworth residential transactions commanding prices that rival global peers a report said on Thursday The growth is supported by an over Rs 69000 crore infrastructure ecosystem and fed by an incoming pipeline of projects worth over Rs 36000 crore the report from ANAROCK and 360 One Wealth saidThe area saw more than 30 homes priced above Rs 40 crore each sold in just 24 months totalling over Rs 5500 crore with a transaction velocity that redefines Indias residential real estate pecking orderForty per cent of Indiaâs entire ultraâluxury apartment market is now Worli Across the entire country â from Bangalores sprawling tech corridors to Delhis power pockets â Worli accounts for nearly half of all transactions exceeding Rs 40 crore ANAROCK Group Chairman Anuj Puri saidThe momentum is only accelerating The area witnessed one of Indias costliest apartment transactions 2 duplexes sold for over Rs 700 crore in 2025 Over the past three years Worli closed over 20 residential deals individually priced above Rs 100 crore he saidPremium tower apartments in Worli now trade at Rs 65000 to Rs 1 lakh plus per sq ft equivalent to New Yorks Lower ManhattanThe pricetosize breakdown showed that apartments under 1000 square feet cost below Rs 8 crore Ultraâpremium residences above 4000 square feet cost over Rs 32 crore the report saidTwo decades of relentless development have transformed a largely nondescript industrial zone into a curated lifestyle ecosystem There are nearly 45 million sq ft of premium residential and retail space currently under construction just at the visible layer of a deeper structural shift the report noted IANS https://dailyworld.in/business/mumbais-worli-accounts-for-40-pc-of-ultraluxury-residential-transactions-651494.html Fri, 05 Dec 2025 03:04:00 +0530 https://dailyworld.in/business/indias-smartphone-exports-to-us-jump-over-300-pc-in-october-651497.html New Delhi Dec 4 Despite tight global geopolitical conditions and the tariff standoff Indias smartphone exports to the US surged over threefold yearonyear YoY to 147 billion in October government data showed In the same month a year ago India exported smartphones worth 046 billion to the USAccording to the data smartphone exports to the United States have seen a sharp rebound this fiscal touching 1078 billion during the AprilâOctober period up from 360 billion in the same period last yearAfter a strong start 165 billion in April and 229 billion in May the monthly shipments had slipped through the middle of the year to 199 billion in June 152 billion in July 096 billion in August and 088 billion in SeptemberThis sequential decline has now stabilised the export momentum and resilient demand has supported it This turnaround comes even as tariffrelated uncertainties in the US posed risks to pricing and buyer sentimentYet on a yearonyear basis Indiaâs shipments to the US grew consistently across months growing from 066 billion in April last year to 076 billion in May 059 billion in June 049 billion in July 039 billion in August and 026 billion in SeptemberGlobally Indiaâs smartphone exports posted strong gains as well rising 4935 per cent to 1595 billion in AprilâOctober 2025 compared to 1068 billion a year earlierGrowth remained firmly in double digits throughout with standout increases in May 6654 per cent to 296 billion June 6661 per cent to 268 billion and September 8227 per cent to 168 billion underscoring Indiaâs expanding role in global supply chainsEarlier last month a report from the India Cellular and Electronics Association ICEA showed that Indias smartphone exports crossed an estimated 18 billion in September reflecting a yearonyear growth of over 95 per cent compared to the same month last yearAugust and September are traditionally lowexport months for the mobile phone industry due to production adjustments and seasonal shipment cycles Despite the fact exports in September 2025 remained exceptionally strong demonstrating the robust ecosystem that has taken shape within the country the report claimedThese strong export numbers underscore the countryâs growing competitiveness in global value chains it added IANS https://dailyworld.in/business/indias-smartphone-exports-to-us-jump-over-300-pc-in-october-651497.html Fri, 05 Dec 2025 03:05:00 +0530 https://dailyworld.in/business/sensex-nifty-end-4-day-losing-streak-rupee-gains-651499.html Mumbai Dec 4 Snapping a fourday losing streak Indian stock markets ended higher on Thursday helped by buying in IT shares as the rupee traded positive with gains against the US dollar Gains however stayed modest as investors turned cautious ahead of the RBI Monetary Policy Committeeâs decision scheduled for FridayThe Sensex closed at 8526532 rising 1585 points or 019 per cent The Nifty also moved up finishing at 26033 higher by 4775 points or 018 per centThe index mostly remained below the 21 EMA on the hourly chart reflecting sustained selling pressure during the sessionâ analysts saidâTechnically the 26100â26150 zone is expected to act as crucial resistance while support is placed at 25900â25950â they addedâA fall below 26000 may trigger a quick correction towards 25950â25900 as the chart setup appears weak on the hourly timeframe market watchers statedBroader market performance remained weak The Nifty MidCap 100 index ended almost flat with a slight negative bias while the Nifty SmallCap 100 slipped 024 per centAmong sectoral indices Nifty IT was the biggest mover jumping 14 per cent Realty FMCG Auto Pharma Metal and Chemical indices also saw buying interestOn the other hand Nifty Media dropped 145 per cent and Bank Financial Services Consumer Durables and Oil amp Gas sectors also declinedOn the Sensex the top gainers included TCS Bharat Electronics Tech Mahindra Infosys and HCL TechMajor laggards were Reliance Industries Maruti Suzuki Kotak Mahindra Bank Titan and EternalAnalysts said that the market managed a positive finish but stayed cautious as investors awaited key policy cues from the RBIâIT stocks outperformed buoyed by renewed optimism around potential Fed rate cuts and favourable currency tailwinds which strengthened investor appetite for the sector experts addedRupee traded positive with gains of 028 paise at 8991 as markets await the RBI policy on Friday especially after the currency hit alltime lows this weekâRupee range is seen between 8980â9025 with a breakout potentially taking it toward 8925 on the upside or 9075 on further weakness analysts said IANS https://dailyworld.in/business/sensex-nifty-end-4-day-losing-streak-rupee-gains-651499.html Fri, 05 Dec 2025 03:08:00 +0530 https://dailyworld.in/business/pm-vishwakarma-scheme-2309-lakh-beneficiaries-trained-68-lakh-get-incentives-worth-rs-22-crore-651502.html New Delhi Dec 4 About 30 lakh beneficiaries have been registered under the PM Vishwakarma Scheme and out of which 2309 Lakh beneficiaries have been trained as on December 1 the Parliament was informed on Thursday The PM Vishwakarma Scheme was launched on September 17 2023 to provide endtoend holistic support to artisans and craftspeople of 18 traditional trades who work with their hands and toolsMinister of State for Micro Small and Medium Enterprises Shobha Karandlaje replied to a question in Lok Sabha that as on date more than 68 lakh artisanscraftspeople have been given digital payment Incentives amounting to Rs 22 croreUnder PM Vishwakarma scheme MoUs have been signed with India Post Payment Bank and several private entities for creating QR codes to enable beneficiaries for receiving digital payment IncentivesâAlso online marketing support is being provided to PM Vishwakarma beneficiaries through various ecommerce platforms like ONDC to promote sale of their products in the domestic as well as international marketsâ the minister informedAdditionally over 30000 Vishwakarma beneficiaries have been successfully onboarded on the Government eMarketplace GeM enhancing their access to institutional buyers she mentionedThe Champions portal is a platform for resolution redressal and remedies As on date the portal disseminates information in 23 languages including English and 22 vernacular languages by using the facilitation from 69 state control rooms across the countryAs of November 11 the portal has received 159577 grievances and 9924 per cent 158372 have been repliedVarious Public Sector Banks Private Sector banks Regional Rural Banks State Financial Corporations State Cooperatives CPSEsautonomous bodies etc have appointed nodal officers for Champions portal to redress the queriesThe PM Vishwakarma Scheme has emerged as a transformative initiative of the government that has supported traditional artisans and empowered them The scheme brings small artisans under one umbrella and empowers them with recognition The initiative also focuses on financial support skill upgradation and connects them with global markets With this initiatives ageold traditions can thrive in a competitive world while preserving their traditional art and knowledge IANS https://dailyworld.in/business/pm-vishwakarma-scheme-2309-lakh-beneficiaries-trained-68-lakh-get-incentives-worth-rs-22-crore-651502.html Fri, 05 Dec 2025 03:10:00 +0530 https://dailyworld.in/business/sampp-upgrades-indias-insolvency-regime-on-stronger-creditor-protection-651504.html New Delhi Dec 4 SampP Global Ratings has upgraded Indiaâs insolvency framework to Group B from Group C citing stronger creditor protection and improved efficiency under the Insolvency and Bankruptcy Code IBC The recent upgrade follows SampPs upward revision of Indias creditorfriendliness score to medium from weak reflecting a sustained track record of creditordriven resolutionsAccording to the rating agency recent cases have shown improved timeliness and higher recovery rates which have strengthened confidence in the systemThe IBC has strengthened credit discipline and tilted the resolution process in favour of creditors in our view with promoters potentially risking losing control of their business unlike under earlier resolution regimes SampP notedRecoveries have thus risen to above 30 per cent today from around 15â20 per cent under the preIBC regimeBy contrast secured creditors typically fare far better often recovering several times what unsecured creditors receive The average time for resolving bad loans has also fallen sharply to about two years from six to eight years previously the report saidWhile acknowledging the progress the rating agency cautioned that Indiaâs insolvency regime still trails more mature systems in Group A and some jurisdictions in Group BThe agency pointed out that overall recovery rates remain modest by global standards and vary significantly across sectors with assetheavy industries such as steel and power performing betterIt also flagged structural concerns secured and unsecured creditors vote together as a single class which could dilute the influence of secured lenders when unsecured debt is sizeableThe effectiveness of mechanisms designed to prevent unfair outcomes â such as ensuring recovery values meet liquidation benchmarks and maintaining adequate court oversightâwill require continued monitoring SampP highlighted IANS https://dailyworld.in/business/sampp-upgrades-indias-insolvency-regime-on-stronger-creditor-protection-651504.html Fri, 05 Dec 2025 03:11:00 +0530 https://dailyworld.in/business/phonepes-pincodeto-focus-exclusively-on-b2b-business-solutions-for-merchants-651507.html Bengaluru Dec 4 Pincode a subsidiary of PhonePe on Thursday announced that it will focus exclusively on expanding its B2B Business Solutions for offline shops and will be winding down its B2C shopping app Pincode PhonePeâs hyperlocal quick commerce platform worked closely with offline retailers to tackle critical problems including limited reach delivery inefficiencies and pricing pressuresThrough databacked insights the platform helps retailers optimise their product selection based on real customer demand ensuring higher relevance faster movement and better marginsâPincodeâs mission is to empower Indian offline shopkeepers with advanced technology solutions to help them grow their businesses and remain competitive against newage ecommerce and quick commerce companies To this end operating yet another B2C quick commerce app ourselves was distracting us from our core mission which is to help offline business partners achieve operational efficiency improved margins and visibility and growth in their existing offline businessâ said Sameer Nigam PhonePe Founder and Group CEOâAs part of this strategic decision we will now focus the entire Pincode teamâs resources towards accelerating the buildout and scaleup of a suite of B2B business solutions for offline businesses across India Pincode already provides inventory management order management and other ERP solutions to businesses and is offering B2B direct sourcing and replenishment solutions for certain categoriesâ added Vivek Lohcheb CEO of Pincode IANS https://dailyworld.in/business/phonepes-pincodeto-focus-exclusively-on-b2b-business-solutions-for-merchants-651507.html Fri, 05 Dec 2025 03:13:00 +0530 https://dailyworld.in/business/fmsitharamantables-health-amp-security-cess-bill-2025in-lok-sabha-651517.html New Delhi Dec 4 Finance Minister Nirmala Sitharaman on Thursday proposed the Health Security se National Security Cess Bill 2025 which will levy tax on goods like pan masala Speaking in the Lok Sabha Sitharaman noted that the Bill will not be levied on essential commodities and the revenue from the levy will be shared with states for spending on health schemesThis is a cess and it is placed not on any essential commodity The purpose of this Bill is to levy a cess on demerit goods which are associated with significant health risks We wish to impose such a cost so that it is a deterrent so people tend not to use it the minister saidBased on its consumption pan masala will be taxed at the maximum 40 per cent rate under Goods and Services Tax GST There will be no impact of this cess on GST revenues Sitharaman saidThe proposed Bill which will be over and above the GST will be levied on the production capacity of machines in pan masala manufacturing factoriesThe cess liability will be different for every factory depending on their production capacity the Finance Minister saidPart of the revenue from this cess will be shared with states through health awareness or other healthrelated schemesactivities Sitharaman pointed outShe noted that as excise duty cannot be levied on pan masala the government is bringing a separate cess bill to ensure that production of pan masala is taxed along with GST which is levied on consumptionEarlier on Wednesday the Lok Sabha passed a Bill amending the Central Excise Act of 1944 to levy excise duty on tobacco over and above the 40 per cent GSTCurrently pan masala tobacco and related products attract 28 per cent GST plus a compensation cess at a varied rate With the end of the compensation cess levy the GST rate will go up to 40 per cent IANS https://dailyworld.in/business/fmsitharamantables-health-amp-security-cess-bill-2025in-lok-sabha-651517.html Fri, 05 Dec 2025 03:33:00 +0530 https://dailyworld.in/business/salman-khan-to-add-glamour-to-telangana-rising-global-summit-651519.html Hyderabad Dec 4 Superstar Salman Khans presence is set to add glamour to Telangana Rising Global Summit scheduled to be held here on December 8 and 9 The actor has plans to establish worldclass film studios at upcoming Bharat Future City where the twoday event will be heldThe Telangana government is organising the summit to position Hyderabad as a global destination for investmentsThe event will project Bharat Future City as the new growth hubWe are honoured to welcome Salman Khan One of Indias most celebrated superstars Salman Khan has shared the countrys film industry for more than three decades an icon whose impact spans cinema philanthropy and culture said the organisers in a social media postWith his upcoming plans to establish worldclass film studios in Hyderabads Bharat Future City Salman Khan is now stepping into a powerful new role in Indias creative economy it addedChief Minister A Revanth Reddy had met Salman Khan in Mumbai on October 30According to the Chief Ministers Office CMO the actor praised Telanganas rapid progress and assured him that he would take the message of Telangana Rising Summit across the worldSalman Khan expressed admiration for the states growth vision and promised to extend his support in promoting Telanganas vibrant image on international platforms it saidThe state government is set to unveil Telangana Rising Vision 2047 document at the Global SummitThe plan aims to transform Telangana into a 3 trillion economy by 2047 by focusing on economic and social development with specific goals to reach a 1 trillion economy by 2035Salman Khan and Ajay Devgn will be the key celebrities at the Global SummitAjay Devgn is likely to sign an agreement with the Telangana government to develop a stateoftheart film studio and film city in HyderabadWe are honoured to welcome Ajay Devgn to the Telangana Rising Global Summit a distinguished actorproducer whose collaboration with the state is set to bring cuttingedge film production and VFX capabilities to Telangana the organisers said in a social media postNational awardwinning actor producer and one of Indias most influential figures in film and entertainment He is partnering with the government of Telangana to develop a stateoftheart film studio and film city bringing worldclass production VFX and smart studio capabilities to the state it addedIn July this year Ajay Devgn had met the Chief Minister Revanth Reddy at the latters residence in New Delhi and keen interest in establishing a worldclass film studio in TelanganaThe CMO had said that Ajay Devgn proposed the development of an internationalstandard film studio equipped with stateoftheart animation VFX and AIpowered smart studiosThe actor had also expressed willingness to set up a skill development institute to train professionals across various domains of the film industry IANS https://dailyworld.in/business/salman-khan-to-add-glamour-to-telangana-rising-global-summit-651519.html Fri, 05 Dec 2025 03:35:00 +0530 https://dailyworld.in/business/snooping-not-possible-with-sanchar-saathi-app-scindia-651295.html New Delhi Dec 3 Union Communications Minister Jyotiraditya Scindia on Wednesday firmly rejected allegations that the governmentbacked Sanchar Saathi app could be used for snooping on citizens Speaking during Question Hour in the Lok Sabha Scindia said the app has no surveillance capability and will not be activated unless a user decides to registerâSnooping is neither possible nor will it happen with the Sanchar Saathi safety appâ he said in ParliamentRepeating his assurance in Hindi he added âSanchar Saathi app se na snooping sambhav hai na snooping hogaâThe minister stressed that the app has been designed only to protect users not monitor themHis remarks come at a time when the app has triggered a political debate after the government directed smartphone manufacturers last week to preinstall Sanchar Saathi on all new devicesSeveral opposition leaders have raised concerns about privacy and the possibility of government intrusion into personal dataCongress MP Randeep Surjewala also submitted a notice in the Rajya Sabha seeking a discussion on the matterAddressing these concerns Scindia clarified that simply having the app on a phone does not mean it is activeâJust because the app is there does not mean it will be activated itâs up to us People have the right not to use itâ he told the HouseHe repeated that activation is entirely voluntary and requires user registration âIf you register it it will remain active If you donât register it it will remain inactiveâ he saidScindia highlighted that the main purpose of Sanchar Saathi is to safeguard people from telecom fraud fake mobile connections and phone theftHe said the app empowers users by allowing them to check fraudulent IMEI numbers report suspicious mobile connections and trace lost or stolen phonesAccording to the minister the app has already helped authorities disconnect millions of fake mobile connections and recover several stolen devicesRejecting allegations of surveillance Scindia said the app represents a step toward strengthening cybersecurity with public participationâThis is a step towards public participation In this people should not object people should welcome itâ he said urging citizens to see the app as a tool for their own protection IANS https://dailyworld.in/business/snooping-not-possible-with-sanchar-saathi-app-scindia-651295.html Thu, 04 Dec 2025 02:55:00 +0530 https://dailyworld.in/business/india-bolsters-digital-infra-over-634-lakh-villages-covered-with-mobile-connectivity-651311.html New Delhi Dec 3 The optical fibre cable network has expanded from 175 lakh kms in March 2018 to 4236 lakh kms in September 2025 while the number of Base Transceiver Stations has increased from 173 lakh in March 2018 to 314 lakh in October 2025 the Parliament was informed on Wednesday This has led to significant growth in its digital infrastructure over the yearsAs of October 2025 out of 644131 villages in India 634019 are covered with mobile connectivity of which 630676 have 4G services informed Dr Pemmasani Chandra Sekhar Union Minister of State for Communications and Rural Development in the Lok Sabha in a written replyBroadband subscriptions have risen sharply from 48 crore in September 2018 to 98 crore in June 2025 Additionally 380 lakh PMWANI WiFi hotspots have been installed across the country as of October 31 2025 the minister saidData consumption has also grown substantially increasing from 832 GB per subscriber per month in September 2018 to 2524 GB per subscriber per month in September 2025 while the average wireless data tariff has declined from Rs 1091 per GB to Rs 827 during the same periodFurther to ensure equitable digital access across the country the government is implementing various schemes under Digital Bharat Nidhi such as 4G saturation projects and Amended BharatNet Programme to expand digital connectivity in rural and remote areas said the ministerThe government has undertaken several measures to strengthen the telecom sector in the country which has led to the growth of telecom sectorThese measures include rationalisation of adjusted gross revenue rationalisation of bank guarantees BGs rationalisation of interest rates and removal of penalties Dispensing with the requirement of BGs for auctions held after 15092021 to secure instalment payments and permission for surrender of spectrum after 10 years in future auctions among othersOther measures are dispensing with the requirement of Spectrum Usage Charge SUC for spectrum acquired in spectrum auctions held after 15092021 removal of additional SUC of 05 per cent for spectrum sharing permission for 100 per cent Foreign Direct Investment FDI in telecom sector under automatic route subject to safeguards and requirement of licenses under 1953 Customs Notification for wireless equipment replaced with selfdeclaration IANS https://dailyworld.in/business/india-bolsters-digital-infra-over-634-lakh-villages-covered-with-mobile-connectivity-651311.html Thu, 04 Dec 2025 05:25:00 +0530 https://dailyworld.in/business/india-now-crosses-508-lakh-5g-towers-govt-651313.html New Delhi Dec 3 Indiaâs rollout of nextgeneration mobile networks has gathered strong momentum with Telecom Service Providers installing 508 lakh 5G Base Transceiver Stations BTSs across the country as of October 31 the Parliament was informed on Wednesday In a written reply to Lok Sabha Union Communication Minister Jyotiraditya Scindia said this rapid expansion reflects the countryâs steady progress in strengthening digital infrastructureThe Government also confirmed significant improvement in rural connectivity under the BharatNet project which aims to bring highspeed broadband to villagesAs of October 2025 214 lakh Gram Panchayats are serviceready and more than 1366 lakh FibretotheHome FTTH connections have already been provided the minister saidOfficials said that these developments are helping bridge the urbanrural digital gap by enabling services such as online education telemedicine and digital payments in remote locationsTo further close the digital divide the Centre is undertaking several initiatives using the Digital Bharat Nidhi DBNThese include expanding BharatNet to more villages providing mobile connectivity in Left Wing Extremismâaffected regions improving telecom access in aspirational districts and enhancing mobile services in remote border areasâThe Government is also implementing the 4G Saturation Scheme to ensure that every uncovered village receives 4G connectivityâ Scindia mentionedIn Rajasthan telecom expansion has moved forward on two tracks 5G rollout and rural mobile coverageThe districtwise status of 5G deployment has been submitted by Telecom Service Providers to the GovernmentAlongside this 1409 mobile towers equipped with 4G technology have been installed under DBNfunded schemes delivering mobile services to 1684 rural villages across the stateThe Ministry said these combined efforts are aimed at ensuring that digital services reach every citizen regardless of geography and that India moves closer to universal highspeed connectivity IANS https://dailyworld.in/business/india-now-crosses-508-lakh-5g-towers-govt-651313.html Thu, 04 Dec 2025 05:48:00 +0530 https://dailyworld.in/business/bsnl-installs-97-068-4g-sites-which-are-5g-upgradable-minister-651320.html New Delhi Dec 3 In line with the âAtmanirbhar Bharatâ initiative BSNL has installed a total of 97068 4G sites and 93511 sites are âONAirâ till October 31 the Parliament was informed on Wednesday BSNL has placed a purchase order for indigenously developed 4G sites for panIndia deployment and the supply of 4G equipment has started from September 2023 Minister of State for Communications and Rural Development Dr Pemmasani Chandra Sekhar told the Lok Sabha in a reply to a questionThe equipment is 5G upgradable from a technology perspective To further enhance the network infrastructure and service quality BSNL is executing the various schemes of the government such as 4G Saturation Scheme Border Out Post BOPBorder Intelligence Post BIP LWE PhaseI upgradation etc he addedBSNL aims to upgrade all 4G towers to 5G within eight monthsBSNL is also regularly replacing old or lifeexpired batteries on towers in a phased manner DG sets are also available on towers based on power conditionhigh revenue priority areas Further solar power is made available as the primary source of power for most of the new 4G BTS locations installed under Digital Bharat NidhiThe stateowned telecom company showed a strong performance trajectory through the first half of the current fiscal H1 FY26 recording a revenue of Rs 11134 crore The telecom firm achieved a 93 per cent revenue run rate against Q2 targets generating close to Rs 5347 croreBSNLâs annual revenue target for FY26 stands at Rs 27500 crore up from Rs 25000 crore in the previous year a testament to the organisationâs rising operational and market performance according to Union Communications Minister Jyotiraditya ScindiaEverything in life is executiondriven and our CGMs are BSNLâs execution artists You are the standardbearers of transformation across your circles Scindia stated He emphasised the need for daily focus on Quality of Service QoS highlighting it as the nonnegotiable mantra for the organisation In line with BSNLâs diversification goals the Minister encouraged circles to explore new revenue streams IANS https://dailyworld.in/business/bsnl-installs-97-068-4g-sites-which-are-5g-upgradable-minister-651320.html Thu, 04 Dec 2025 08:22:00 +0530 https://dailyworld.in/business/new-labour-codes-to-be-notified-soon-to-build-a-more-inclusive-workforce-mandaviya-651323.html New Delhi Dec 3 The new Labour Codes to be notified soon are the foundation of a stronger fairer and more inclusive workforce Minister of Labour and Employment Mansukh Mandaviya said on Wednesday The ministry has started the process for enforcing rules under the notified law and will prepublish draft rules under the four Labour Codes shortlyThe four labour codes Code on Wages 2019 Industrial Relations Code 2020 Code on Social Security 2020 and the Occupational Safety Health and Working Conditions Code 2020 were notified on November 21Our working class is the backbone of the nation and securing their welfare and social security is essential Every worker entrepreneur and industry plays a distinct role in driving growth The new Labour Codes are the foundation of a stronger fairer and more inclusive workforce Mandaviya said during a session on labour reforms for Viksit Bharat at a CII eventHe further stated that the government is strengthening both the rights and welfare of workersOur labour reforms go beyond merging labour laws they aim to give every worker the dignity and respect they deserve The new Labour Codes improve health and safety especially in hazardous jobs via annual health checkups and better protections They also ensure that anyone who has worked for at least one year is eligible for gratuity the minister elaboratedTo expand social security the codes now cover gig and platform workers as wellAs per ILO today nearly 64 per cent of our citizens receive at least one form of social security placing India among the leading countries in social protection coverage said MandaviyaTalent and skills are inseparable and we must ensure they move in alignment with global requirements There is immense demand for skilled Indian professionals across the world and our focus must be on mapping and developing these capabilities in a structured way the minister addedAccording to CII President Rajiv Memani the new Labour Codes are a significant step forward from the industry perspectiveAs we move towards a Viksit Bharat the reforms will play a crucial role in attracting future investments By simplifying processes reducing transaction costs and improving ease of doing business we are strengthening Indiaâs competitiveness and making the country even more attractive for global investors he told the gathering IANS https://dailyworld.in/business/new-labour-codes-to-be-notified-soon-to-build-a-more-inclusive-workforce-mandaviya-651323.html Thu, 04 Dec 2025 09:19:00 +0530 https://dailyworld.in/business/govt-not-losing-sleep-cea-nageswaran-allays-fears-over-depreciation-in-rupee-651329.html New Delhi Dec 3 Chief Economic Advisor V Anantha Nageswaran on Wednesday allayed fears over any major adverse fallout for the economy due to the depreciation of the rupee The falling rupee is not affecting inflation or exports he told journalists on the sidelines of a CII eventIn answer to a question after the rupee sank to a record low to briefly fall below the 90 mark visavis the US dollar Nageswaran quipped The government is not losing sleep over the weakening of Indian currencyHowever he also said that the rupee should improve next yearThe rupee has depreciated about 5 per cent against the US dollar in 2025 in the wake of global economic uncertainties triggered by the US tariff hike on Indiaâs exports The RBI has been intervening to prop the rupee against excessive volatility by selling US dollars in the market but this cannot be done beyond a point due to the forex constraintsThe rupees decline was driven by weak foreign flows large offshore positioning and uncertainty around a USIndia trade dealAnalysts said that the market mood remained tense as traders watched for signs of stability in the rupee and clarity on trade negotiations between India and the United StatesThe rupee depreciation will halt and even reverse when the IndiaUS trade deal materialises This is likely this month A lot however will depend on the details of the tariffs to be imposed on India as part of the deal an analyst statedThe Indian stock market opened on a quiet note on Wednesday with both benchmark indices showing minimal movement in early tradeA real concern now which has contributed to the slow drifting down of the market is the continued depreciation in the rupee and fears of further depreciation since the RBI is not intervening to support the rupee an analyst statedThis concern is forcing the FIIs to sell despite the improving fundamentals of rising corporate earnings and a strong rebound in GDP growth analysts addedSome analysts are of the view that the rupee is likely to bounce back if India and the US reach an agreement on a bilateral trade deal âThere is this belief that the rupees fall is likely to halt and even reverse in case there is some concrete positive news on the IndiaUS trade deal said VK Vijayakumar Chief Investment Strategist Geojit Investments IANS https://dailyworld.in/business/govt-not-losing-sleep-cea-nageswaran-allays-fears-over-depreciation-in-rupee-651329.html Thu, 04 Dec 2025 10:32:00 +0530 https://dailyworld.in/business/sensex-nifty-settle-lower-amid-weakening-rupee-fii-outflow-651336.html Mumbai Dec 3 The domestic equity indices ended slightly lower on Wednesday after a volatile session amid a weakening rupee FIIs outflow and persistent selling in broader markets Sensex closed at 8510681 down 3146 points Sensex started the session flat at 8515064 against last days closing of 8513827 The 30share index remained volatile during the trading hours amid selling in auto and FMCG heavyweights and buying in IT and banking stocks The index touched an intraday high at 8526968 and a low at 8476364Nifty closed at 259860 down 4620 points or 018 per centEquity markets ended lower as the continued slide in the Indian rupee â which hit a fresh record low against the US dollar â prompted foreign portfolio investors to lock in profits with the currency weakness weighing on their dollaradjusted returns analysts saidNifty 50 slipped below the psychological 26000 mark today and remained confined within a tight consolidation range of 25875â25950 they addedMahindra and Mahindra SBI Titan NTPC Hindustan Unilever Tata Motors PV Bajaj FinServ LampT Maruti Suzuki Trent Ultratech Cement Tata Steel and Bharti Airtel were among the losers from the Sensex stocks ICICI Bank TCS HDFC Bank Infosys and Axis Bank settled higherSectoral indices witnessed a mixed approach from the investors as Nifty Fin Services rose 64 points or 023 per cent Nifty Bank jumped 74 points or 013 per cent and Nifty IT went up 284 points or 076 per cent While Nifty Auto fell 335 points or 120 per cent and Nifty FMCG dipped 441 points or 080 per centThe broader market remained under selling pressure during the session Nifty Midcap 100 fell 594 points or 098 per cent and Nifty Smallcap 100 decreased settled 127 points or 071 per cent down and Nifty 100 slipped 86 points or 033 per cent IANS https://dailyworld.in/business/sensex-nifty-settle-lower-amid-weakening-rupee-fii-outflow-651336.html Thu, 04 Dec 2025 11:26:00 +0530 https://dailyworld.in/business/govt-removes-order-mandating-pre-installation-of-sanchar-saathi-app-as-adoption-surges-651338.html New Delhi Dec 3 The government on Wednesday said it has withdrawn the mandate requiring mobile manufacturers to preinstall the Sanchar Saathi app on all smartphones citing a sharp rise in voluntary user registrations and growing public trust in the platform The Ministry of Communications said the app designed to protect citizens from cyber fraud and telecomrelated crimes has been gaining strong acceptance making a compulsory installation rule unnecessaryâSo far 14 crore users have downloaded Sanchar Saathi helping report nearly 2000 fraud incidents every dayâ the ministry saidâIn the last 24 hours alone six lakh citizens registered to download the app marking a tenfold jump in its uptakeâ it addedThe government said the mandate was originally intended to ensure that lessaware citizens also had access to cybersecurity toolsBut with the recent spike in voluntary adoption the rule has now been rolled backâGiven Sanchar Saathiâs increasing acceptance the Government has decided not to make the preinstallation mandatory for mobile manufacturersâ the Centre saidThe ministry emphasised that the app is secure carries no surveillance feature and serves only one purpose protecting users from fraudsters and helping them report cyber wrongdoingIt added that people are free to delete the app whenever they want and that it supports âjan bhagidariâ by enabling citizens to participate in fighting cybercrimeThe announcement came hours after Communications Minister Jyotiraditya Scindia strongly refuted snooping allegations in ParliamentAddressing the Lok Sabha during Question Hour he said the app cannot monitor users and remains inactive unless someone chooses to registerâSnooping is neither possible nor will it happen with the Sanchar Saathi safety appâ Scindia said adding in Hindi âSanchar Saathi app se na snooping sambhav hai na snooping hogaâHe underlined that the app is meant only to help people protect themselves from digital threats such as fake mobile connections fraud calls and lost or stolen phones IANS https://dailyworld.in/business/govt-removes-order-mandating-pre-installation-of-sanchar-saathi-app-as-adoption-surges-651338.html Thu, 04 Dec 2025 11:47:00 +0530 https://dailyworld.in/business/centre-makes-it-mandatory-to-display-retail-sale-price-on-pan-masala-packs-651356.html New Delhi Dec 3 The government on Wednesday made it mandatory for all pan masala packs of every size and weight to display the retail sale price RSP and all other declarations required under the Legal Metrology Packaged Commodities Rules 2011 effective from February 1 The Department of Consumer Affairs has notified the Legal Metrology Packaged Commodities Second Amendment Rules 2025âThe amended rules will come into force on 1 February 2026 from which date all manufacturers packers and importers of pan masala must ensure full complianceâ said the Consumer Affairs MinistrySmall packs of 10 grams or less which were previously exempted must now print the retail sale price on their labels All pan masala packages must display every declaration required under the Legal Metrology Packaged Commodities Rules 2011âThe previous proviso under Rule 26a which allowed small pan masala packs to avoid certain declarations has now been withdrawn with the insertion of a new proviso specific to pan masalaâ according to the notificationBy mandating RSP on all packages the amendment facilitates the effective implementation of RSPbased GST levy on pan masala thus enabling seamless enforcement of GST Council decisions proper tax assessment and revenue collection across all pack sizes including the smallest unitsâThe amendment significantly strengthens consumer protection by ensuring that buyers have transparent and clear pricing information for every pack size prevents misleading or deceptive pricing on smaller packs enables consumers to make better informed purchasing decisionsâ according to the ministryCurrently the Goods and Services Tax GST at 28 per cent is levied on tobacco and pan masala On top of that a compensation cess at a varied rate is levied The levy of compensation cess was extended by 4 years till March 31 2026 and the collection is being used to repay the loan that the Centre took to compensate states for the GST revenue loss during the Covid periodFinance Minister Nirmala Sitharaman is slated to introduce two bills in the Lok Sabha to replace GST compensation cess with an excise levy to ensure that the high tax on sin goods such as tobacco and pan masala is maintained at current levels IANS https://dailyworld.in/business/centre-makes-it-mandatory-to-display-retail-sale-price-on-pan-masala-packs-651356.html Thu, 04 Dec 2025 12:45:00 +0530 https://dailyworld.in/business/adani-electricity-champions-customerinterestswithmachine-learning-tech-for-fair-power-651358.html Mumbai Dec 3 Adani Electricity on Wednesday said it has strengthened its commitment to delivering fair and reliable power by deploying advanced theft prediction and revenue protection modules based on Machine Learning ML and meter data technologies across its distribution network The initiative is designed to curb electricity theft protect genuine customers and enhance governance for a transparent and efficient power ecosystemThe company rolled out a Machine Learningbased theft prediction module in JanuarySince then âit has detected electricity theft totalling 50 million units MUs valued at Rs 859 croreâ Adani Electricity said in a statementIn a recent highvalue case the technology uncovered a direct supply theft at an electroplating unit in Malad W involving 04 MU worth Rs 87 lakh These advanced tools enable swift datadriven action ensuring fairness and shielding honest consumers from the burden of illegal usage the company saidVigilance efforts have been strategically focused on highrisk areas guided by surveillance and credible intelligence while the Machine Learning module integration has reinforced governance through comprehensive theft analysisâWe are committed to leveraging advanced technologies to ensure a reliable and secure power supplyâ an Adani Electricity spokesperson saidThe integration of machine learning has enhanced theft detection strengthened governance and protected genuine customers from the impact of illegal usage reflecting our vision for a smarter sustainable energy future the spokesperson addedThe Machine Learning modulepowered system automates data analysis detects patternbased anomalies and accelerates theft identificationBy analysing customer profiles and consumption patterns it accurately flags potential cases enabling faster response times targeted inspections and informed decisionmakingThis datadriven approach not only strengthens enforcement but also reduces operational costs ensuring fairness and reliability for consumers the company said IANS https://dailyworld.in/business/adani-electricity-champions-customerinterestswithmachine-learning-tech-for-fair-power-651358.html Thu, 04 Dec 2025 12:48:00 +0530 https://dailyworld.in/business/air-india-reported-3-technical-glitches-on-boeing-787-planes-since-july-minister-651386.html New Delhi Dec 4 IANS Air India has reported three technical glitches since July this year related to Boeing 787 aircraft in its fleet Parliament was informed on ThursdaynbspIn a written reply to a question in the Lok Sabha Minister of State for Civil Aviation Murlidhar Mohol said that after the accident of the Boeing 787 aircraft on June 12 2025 in Ahmedabad the Directorate General of Civil Aviation DGCA issued directions to Air India to carry out enhanced safety inspections on its fleet of Boeing787 aircraft All Boeing aircraft were checked and found satisfactory by the airlineHe further stated that DGCA ensures the compliance of airlines with all safety and maintenance standards through the mechanism of conducting surveillance spot check night surveillance etc of the airlines and its personnel The observations and findings made during surveillance spot check and night surveillance are provided to the airlines for taking corrective actionIn case of violation DGCA takes enforcement action in accordance with laid down procedures which may consist of warning suspension cancellation including imposition of financial penalty to the airlines or their personnel the minister explainedHe pointed out that during operations an aircraft may experience technical faults due to malfunctioning of components equipment fitted on the aircraft which require rectification action by the airlines for continued safe efficient and reliable air transport service These technical snags are reported by the flight crew on receiving an aural or visual warning in the cockpit or an indication of a faulty system or while experiencing difficulty in operating the aircraftThese snags are recorded by the flight crew in the Flight Report Book of the aircraft and after completion of the flight which is examined by a duly qualified and typerated Aircraft Maintenance Engineer AME as per the procedure laid down in the Manufacturers Aircraft Maintenance Manual AMM Trouble Shooting Manual the minister saidThe snag is thereafter rectified as per the procedure in the AMM and may involve replacement of components testing servicing etc Upon satisfactory rectification the aircraft is released for service and an entry to this effect is made in the Flight Report Book he added https://dailyworld.in/business/air-india-reported-3-technical-glitches-on-boeing-787-planes-since-july-minister-651386.html Thu, 04 Dec 2025 14:14:00 +0530 https://dailyworld.in/business/ups-solar-leap-to-herald-new-chapter-of-energy-savings-and-job-creation-651387.html Lucknow Dec 3 Uttar Pradesh is set to shine brighter in the days to come with an ongoing âsolar revolutionâ in the state and will see multiple aspects of growth in terms of energy saving and employment generation Under the solar energy policy 2022 of the Yogi Adityanath government a grant of Rs 2600 has already been sanctioned which envisages expanding the stateâs solar energy capacity to new levels and engaging a crosssection of people by motivating them to adopt solar energyAccording to official estimates more than 290 lakh homes have already installed solar plants on their rooftops to date Also the governmentâs thrust on the solar sector has led to the growth of 50000 job opportunities The engagement of about 50000 youth in the sector in various roles as technicians installers and service staff shows bright growth prospects in the sector giving strength to the local economyThe states total solar energy capacity has reached 100364 MW and is expected to result in annual savings of about 40 to 60 per cent on electricity bills applicable to both largescale industries to rural consumersMoreover Chief Minister Yogi Adityanathâs clearly laidout vision in turning major cities of the state into âsolar citiesâ under the âViksit UP 2047â mission speaks a lot about the state governmentâs priorities in the next two decadesExperts in the solar energy sector opine that such savings will strengthen the economy in the long term and also significantly reduce the burden of electricity consumptionLoad shedding is also being reduced in rural and semiurban areas while power outages have registered a sharp declineSolar energy is becoming a key driver of rural progressWith the expansion of solar energy coverage the dependence on conventional power supply will decrease benefiting industries and small businessesThe state governmentâs thrust on solar energy reaffirms its focus on turning it into a key component of the stateâs energy needs and making Uttar Pradesh a leader in the field of clean energy IANS https://dailyworld.in/business/ups-solar-leap-to-herald-new-chapter-of-energy-savings-and-job-creation-651387.html Thu, 04 Dec 2025 14:14:00 +0530 https://dailyworld.in/business/internet-subscribers-in-india-up-149-pc-at-101781-millionin-q2-trai-data-651391.html New Delhi Dec 3 The total number of Internet subscribers in India increased from 100285 million at the end of the AprilJune quarter Q1 FY26 to 101781 million at the end of the JulySeptember period Q2 FY26 registering a quarterly growth of 149 per cent data from Telecom Regulatory Authority of India TRAI showed on Wednesday As per the data out of 107081 million internet subscribers the number of Wired Internet subscribers is 4442 million and the number of Wireless Internet subscribers is 97339 millionMeanwhile the broadband Internet subscriber base increased by 163 per cent from 97971 million at the end of June to 99563 million at the end of September this year The narrowband Internet subscriber base decreased from 2314 million in the June quarter to 2218 million at the end of the September quarterAt the same time wireline subscribers decreased from 4749 million at the end of the AprilJune quarter to 4661 million at the end of the September quarter with a quarterly rate of decline of 184 per cent On a yearonyear YoY basis wireline subscriptions increased by 2621 per cent at the end of the JulySeptember quarterWireline Teledensity decreased from 336 per cent at the end of Q1 FY26 to 329 per cent at the end of Q2 FY26 with a quarterly rate of decline of 206 per cent Meanwhile the monthly average revenue per user ARPU for wireless service increased by 234 per cent from Rs 18662 in the first quarter to Rs 19099 in the second quarter of this fiscalMonthly ARPU for wireless service increased by 1067 per cent YoY in this quarter as wellThe ARPU per month for the prepaid segment is Rs 18969 and the ARPU per month for the postpaid segment is Rs 20455 for the quarter under review On an allIndia average the overall MOU per month decreased by 010 per cent from 1006 in the AprilJune period to 1005 at the end of the JulySeptember periodThe total Internet subscriber base comprises a Broadband Internet subscriber base of 99563 million and a Narrowband Internet subscriber base of 2218 million IANS https://dailyworld.in/business/internet-subscribers-in-india-up-149-pc-at-101781-millionin-q2-trai-data-651391.html Thu, 04 Dec 2025 14:24:00 +0530 https://dailyworld.in/business/pakistan-brazenly-breaches-eu-norms-but-still-enjoys-gsp-trade-status-651400.html New Delhi Dec 3 Pakistan has been one of the largest beneficiaries of the Generalised System of Preferences Plus GSP status granted to its exports by the European Union However the Islamic nationâs poor track record on human rights constitutes a major violation of the eligibility conditions for this status The GSP is a trade mechanism through which the EU offers developing countries preferential access to its markets It serves as a special incentive arrangement promoting sustainable development and good governance aimed at supporting vulnerable developing nations such as PakistanThe generous EU tariff reductions have led to a massive boost in Pakistanâs trade Islamabadâs exports to the EU have increased by more than 4725 per cent since the inception of the GSP status More significantly its textile exports have been the major beneficiary with a rise of 666 per cent since 2013 Among EU nations Germany Spain the Netherlands Italy Poland and Portugal have emerged as leading export destinations for Pakistan according to an article in the European TimesHowever an important tenet of GSP regulation is that the beneficiary countries have to ratify and effectively implement 27 international conventions on human rights labour environmental protection and good governance to receive preferential trade benefitsPakistan has by default ratified all 27 core international conventions but in practice the picture is quite the opposite Antithetical to the covenants ratified the truth is that Pakistan is a model case of widespread and systematic violations of human rights a state highly tolerant of its human rights excesses Thus considering the abysmal track record of the last decade one finds little courage to extend support for the continuation of the GSP status for Pakistan the article points outFrom gender and ethnic discrimination to the use of military courts for civilians Pakistanâs image is marred by a multitude of incidents of human rights violations The 201819 assessment by the EU reported no progress on the legislation on labour rights along with a lack of safer spaces for civil society voices of dissent and the safety of journalists Moreover the sectarian conflicts including violence against Shia community in 2020 2023 and 2024 and systematic persecution of religious minorities through discriminatory laws targeted violence forced conversions mob attacks and the weaponisation of digital platforms of Pakistanâs Hindu Christian Sikh Shia Ahmadi Kalash and other minority communities have already kept the UNHCR on their toes the article statesAccording to a report by the Center for the Study of Organized Hate CSOH the cases of violence against religious minorities have increased as recently as between 2024 and the first half of 2025 As of July 2025 UNHCR experts expressed their concern about increasing violence against vulnerable communities where these communities have witnessed relentless attacks killings and unending harassment for months in the context of hostility and advocacy of hatred against them UNHCR also observed that the attacks are taking place with tacit official complicity and warned the state to break the pattern of impunity that allows perpetrators to act without restraint or fear of consequencesThe socioeconomic development front of Pakistan is also in doldrums indicating the systemâs apathy and lack of will to improve citizensâ welfare while breaking the covenants of good governance and labour rights On the citizenâs welfare front the updated estimates from the World Bank reveal that poverty headcount in Pakistan has increased to 447 per cent implying that almost half of its population is living below the poverty line subjected to abject poverty conditionsWhile budgetary allocations for education and healthcare have hit record lows Pakistan has increased its defence budget between 201617 and 202526 by more than 200 times with a current allocation of a massive 255 trillion rupees or 9 billion And these numbers donât include the massive burden of military pensions that burden the government budget allocationsThe textile sector which is championing under the GSP regime is also championing in the field of labour rights violations There are frequent violations of wage regulations and a major fraction of the textile workers possess no written contractsThe EU has already expressed its concern over blasphemy laws enforced disappearances freedom of expression media independence impunity for rights violations due process fair trials civic space and the death penalty situation which need to be addressed to continue the trade privilegesThe article raises the question of whether in the wake of the violation of conventions in every dimension whether it is human rights good governance or labour rights it is justified for the EU to renew Pakistanâs GSP status IANS https://dailyworld.in/business/pakistan-brazenly-breaches-eu-norms-but-still-enjoys-gsp-trade-status-651400.html Thu, 04 Dec 2025 14:42:00 +0530 https://dailyworld.in/business/india-must-boost-exports-to-russia-to-balance-trade-basket-piyush-goyal-651405.html New Delhi Dec 4 IANS Commerce and Industry Minister Piyush Goyal on Thursday said India and Russia must work together to bring greater diversity and balance to their trade basket as he highlighted the huge opportunity in the bilateral economic partnershipnbspIn his address at the IndiaRussia Business Forum here Goyal said Bilateral trade between the two countries is reaching 70 billion but we cannot rest we need to grow we need to balance thatnbspGoyal highlighted vast untapped opportunities for Indian exporters in sectors such as automobiles electronics heavy machinery textiles and food products as both sides work to reduce trade barriers and expand business opportunitiesI am sure we will address the trade imbalance in the near future and work collectively to reduce trade barriers if any and work to create the right conditions to open more opportunities for businesses in both countries he saidnbspWe need to bring more diversity to our trade basket We need to make it more balanced between Russia and India Goyal remarkednbspHe also said that the IndiaRussia partnership is timetested and has stood as a testament to decades of unwavering solidarity enduring the many uncertainties of a changing worldAddressing the meeting Maxim Oreshkin Deputy Chief of Staff of the Russias Presidential Executive Office said that Indias share in Russias imports is less than 2 per cent and it needs to be increased for a more balanced trade between the two countriesnbspOreshkin said that the six major areas in which India can increase exports to Russia include agriculture pharma telecom equipment industrial components and human resourcesMerchandise trade between the two nations touched 687 billion in FY25 but Indian exports to Russia remained under 5 billion while imports were close to 64 billion due to large oil imports The two countries have fixed a target of 100 billion in bilateral trade by 2030nbspEngineering goods remain Indias top export to Russia at 13 billion in FY25 followed by electronic goods worth 8625 million and drugs and pharmaceuticals at 5772 million Other major shipments include organic and inorganic chemicals marine products and readymade garmentsSome of Indias top imports from Russia in FY25 include crude oil at nearly 57 billion animal and vegetable fats and oils at 24 billion fertilisers at 18 billion and pearls precious and semiprecious stones at 43393 millionnbspIndia has stepped up its efforts to diversify exports especially in the wake of the sharp hike in US tariffs rolled out by the Trump administration and is in talks for a free trade agreement with the Russialed Eurasian Economic Union EAEU https://dailyworld.in/business/india-must-boost-exports-to-russia-to-balance-trade-basket-piyush-goyal-651405.html Thu, 04 Dec 2025 18:28:00 +0530 https://dailyworld.in/business/fdi-inflow-up-record-16-pc-in-1st-half-this-fiscal-ftas-signed-with-15-nations-minister-651073.html New Delhi Dec 2 Total foreign direct investment FDI inflow reported during the first half of FY 202526 5036 billion has increased by 16 per cent compared to yearago period 4337 billion highest ever for first half of a financial year the Parliament was informed on Tuesday Gross FDI inflows have increased from over 34 billion in 201213 to over 80 billion in 202425 said Minister of State for Electronics and IT Jitin Prasada in Lok SabhaAs per official data India recorded a strong rebound in FDI in the second quarter of the current financial year with total inflows rising over 18 per cent yearonyear to 3518 billion during AprilâSeptember 2025âThe recent trend in net FDI inflows is associated with increased repatriationdisinvestment and rising Overseas Direct Investment ODI outflows The ODI outflow on account of liberalized ODI rules notified in 2022 is helping Indian entities to enhance their business footprints abroad enabling them to compete in the global market adding to the strength of Indian economy in long runâ informed PrasadaThe increasing trend of repatriation indicates that India is not only attracting foreign capital but also delivering strong returns which enhances its reputation as a reliable investment destination he addedThe government has leveraged the free trade agreements for promotion of Export Diversification and attract investment India has signed 15 free trade agreements FTAs and 6 preferential trade agreements PTAs with its trading partnersâTrade and Economic Partnership Agreement between India and the European Free Trade Association EFTA signed on March 10 2024 is a modern and forwardlooking agreement For the first time in history of Free Trade Agreements unilateral binding commitment of 100 billion investment and 1 million direct jobs over the next 15 years has been secured from Switzerland Norway Liechtenstein and Icelandâ Prasada notedHe further mentioned that the government is working with all stakeholders to enable âour exporters to better utilise the benefits of Indias FTAs with major market such as Japan Korea UAE and effectively utilise the opportunities that have been created with the recent concluded FTAs such as with the EFTA countries and the UKâThe government is in negotiations for early conclusion of mutually beneficial FTAs with the EU Peru Chile New Zealand Oman etc The government is engaged with all stakeholdersincluding exporters Export Promotion Councils EPCs industry associations and state governments to assess the evolving impact of the US tariff measures he added IANS https://dailyworld.in/business/fdi-inflow-up-record-16-pc-in-1st-half-this-fiscal-ftas-signed-with-15-nations-minister-651073.html Wed, 03 Dec 2025 00:10:00 +0530 https://dailyworld.in/business/centre-paid-farmers-rs-347-lakh-crore-in-2024-25-for-purchase-of-crops-at-msp-651079.html New Delhi Dec 2 Minister of Agriculture Shivraj Singh Chouhan informed Parliament on Tuesday that the Centre has paid Rs 347 lakh crore directly to farmers for the purchase of 1223 lakh metric tonnes of foodgrains at the minimum support price MSP during the 202425 crop year In a written reply to a question in the Lok Sabha the minister said that every year the government fixes the MSP for 22 mandated agricultural crops based on the recommendations of Commission for Agricultural Costs and Prices CACP after considering the views of State Governments and Central Ministries concernedHe explained that the Union Budget for 201819 had announced the predetermined principle to keep MSPs at levels of at least one and half times of the cost of production Accordingly the government had increased MSPs for all mandated Kharif Rabi and other commercial crops with a minimum return of 50 per cent over all India weighted average cost of production from year 201819 onwardsThe government offers to procure agricultural crops through designated procurement agencies and farmers have the option to sell their produce to the government agencies or in the open market whichever is advantageous to them The data show that the increased MSP has benefited farmers of the country he addedThe government has also taken several other initiatives for the benefit of farmers which include Pradhan Mantri Fasal Bima Yojana and Restructured Weather Based Crop Insurance Scheme under which Rs 12256 crore has been paid to farmers during 202425Chouhan said that the two insurance schemes were introduced from Kharif 2016 to provide financial support to farmers suffering crop loss arising out of natural calamities adverse weather incidence and to stabilize the income of farmers etc Comprehensive risk insurance is provided under the scheme from presowing to postharvest losses This scheme is voluntary for states and farmers as wellThe government has also paid Rs 76980 crore under the Agriculture Infrastructure Fund AIF since it was set up in FY 202021 till November 25 2025 This is a mediumlong term debt financing facility for investment in viable projects for postharvest management infrastructure and community farming assets through interest subvention and credit guarantee supportAs many as 139837 projects have been sanctioned under AIF across the country These sanctioned projects have mobilised an investment of Rs122731 crore in the agriculture sectorBesides the government is implementing the Agricultural Marketing Scheme and Paramparagat Krishi Vikas Yojana to encourage organic farming in the country and increase the earnings of farmers in the country the minister added IANS https://dailyworld.in/business/centre-paid-farmers-rs-347-lakh-crore-in-2024-25-for-purchase-of-crops-at-msp-651079.html Wed, 03 Dec 2025 00:17:00 +0530 https://dailyworld.in/business/noida-airport-set-for-dgca-green-light-inches-closer-to-inauguration-651080.html Greater Noida Dec 2 Preparations for the operationalisation of the Noida International Airport have entered its final phase The Bureau of Civil Aviation Security BCAS is expected to submit its security inspection report to the Directorate General of Civil Aviation DGCA soon If the DGCA finds the report satisfactory the longawaited aerodrome license may be issued on December 4 clearing a major hurdle ahead of the airportâs inaugurationAccording to officials the airport is expected to be inaugurated within a week of receiving the license although the Uttar Pradesh government has not yet finalised the official date of inaugurationThe launch event is likely to be a highprofile ceremony attended by senior leaders from both the state and central governmentsShailendra Bhatia nodal officer for Noida International Airport Limited NIAL said the BCAS team conducted a meticulous twoday inspection of security preparations Some technical gaps identified earlier were reevaluated on Monday during a comprehensive reassessment of the airportâs highend security installationsHe said the inspection covered baggage and passenger screening systems CCTV surveillance and access control points perimeter security antihijacking mechanisms bomb disposal infrastructure and 3D radar systemsAccording to Bhatia the security systems were found to be effective and the BCAS has prepared its report accordinglyHe added that all construction work under the airportâs first phase spanning 1334 hectares and including the runway taxiways terminal building and parking facilities has been completedKey technical trials including the baggage handling system boarding processes security checks and passenger management protocols have also been completed successfully he saidChief Minister Yogi Adityanath had reviewed the progress on November 27 and instructed officials to speed up the remaining work and the licensing processIn its first phase the airport will begin with domestic passenger flights and cargo operations However international flights and additional facilities will be rolled out in subsequent phasesThe opening of the Noida International Airport is expected to significantly reduce air traffic pressure on airports in Western Uttar Pradesh and DelhiNCR while also boosting employment and business opportunities across the region IANS https://dailyworld.in/business/noida-airport-set-for-dgca-green-light-inches-closer-to-inauguration-651080.html Wed, 03 Dec 2025 00:18:00 +0530 https://dailyworld.in/business/gujarat-deputy-cm-highlights-jan-dhan-yojanas-impact-on-nations-banking-sector-651081.html Ahmedabad Dec 2 Gujarat Deputy Chief Minister Harsh Sanghavi on Tuesday pointed out that Pradhan Mantri JanDhan Yojana PMJDY has brought unprecedented revolution in the countrys banking sector Addressing the 187th meeting of the State Level Bankers Committee SLBC convened in Gandhinagar Sanghavi said Prime Minister Narendra Modis vision behind the Pradhan Mantri Jan Dhan Yojana has brought an unprecedented revolution in Indiaâs banking sector shifting it from a privilege of the affluent to a service accessible to every citizenHe noted that Gujarat has emerged as a national leader in expanding banking infrastructure The state now has over 11000 bank branches with more than 56 per cent operating in rural areasThrough this network Gujarat has opened over 175 crore Jan Dhan accounts ensuring even the poorest households are connected to formal bankingCalling cybercrime one of the biggest challenges of the digital age Sanghavi outlined the states proactive steps in countering online fraudHe revealed that every cybercrime reported to Gujarats 1930 helpline saw 100 per cent of the funds frozen thanks to swift coordination between the police and partner banksThe minister urged banks to strengthen collaboration with law enforcement and announced plans for a joint committee comprising the Home Department Gujarat Police and nodal officers from various banks to expedite action on cyber fraudSanghavi also shared an example of exemplary vigilance by Ahmedabadbased bank manager Jayesh Gandhi who recently prevented a senior citizen trapped in a digital arrest scam from transferring Rs 45 lakh of life savingsHe said such awareness and empathy across all bank staff can significantly reduce cybercrime in the stateChief Secretary Manoj Kumar Das praised banks for supporting citizens during the economic hardships of the Covid19 pandemic and urged them to extend similar leadership for major initiatives like the SVAMITVA schemeAt the event the Deputy CM honoured three topperforming Lead District Managers for their achievements in the second quarter of FY 2025Earlier in the meeting SLBC Gujarat Chairman Debadatta Chand RBI Executive Director Sonali Sen Gupta and Union Finance Ministry Joint Secretary Manoj Ayyappan addressed participantsThe session saw participation from senior officials of the stateâs Finance Department top executives from nationalised banks and officers from various government departments reinforcing Gujaratâs focus on robust secure and inclusive financial systems IANS https://dailyworld.in/business/gujarat-deputy-cm-highlights-jan-dhan-yojanas-impact-on-nations-banking-sector-651081.html Wed, 03 Dec 2025 00:19:00 +0530 https://dailyworld.in/business/ev-car-manufacturing-scheme-to-gain-momentum-after-india-eu-fta-govt-651082.html New Delhi Dec 2 The scheme to promote manufacturing of electric passenger cars SPMEPC is expected to gather momentum only after the IndiaEU Free Trade Agreement FTA is finalised as global automakers prefer to wait for clarity on the trade deal before committing investments the Parliament was informed on Tuesday In a written reply to Lok Sabha Minister of State for Heavy Industries Bhupathiraju Srinivasa Varma informed that several companies have indicated they will decide on joining the scheme once the FTA terms are settledDespite the October 21 deadline no automaker submitted an application Companies told the Government that the uncertainty around the IndiaEU FTA was a major factor behind their hesitationThey also raised concerns about restrictions on rareearth magnets which may affect their ability to meet Domestic Value Addition DVA requirementsIn addition firms pointed out that the mandated investment levels and timelines under the scheme could be difficult to meetThe Heavy Industries Ministry said it has carried out extensive outreach to encourage participationThis included consultations during the schemeâs design coordination with Invest India and various ministries and communication through Indian embassies in countries where major global automakers are headquarteredA recent stakeholder meeting was also held to resolve industry queries after the scheme failed to attract applicantsRegarding the proposed 15 per cent import duty concession for EVs in exchange for investments of Rs 4150 crore the Government clarified that no revisions are being considered at presentIt also said that while it has not formally assessed the impact of the ongoing IndiaEU negotiations companies themselves have linked their decisions to the outcome of the trade talksThe Ministry added that there is currently no plan to reopen the application window or modify the conditions of the SPMEPC scheme IANS https://dailyworld.in/business/ev-car-manufacturing-scheme-to-gain-momentum-after-india-eu-fta-govt-651082.html Wed, 03 Dec 2025 00:20:00 +0530 https://dailyworld.in/business/bajaj-auto-gets-rs-3474-crore-tax-demand-over-misclassification-of-spare-parts-651084.html Mumbai Dec 2 Bajaj Auto on Tuesday said it has received a tax demand of Rs 3474 crore from the Uttarakhand tax authorities over the alleged misclassification of spare parts supplied by the company In addition to the demand a penalty of Rs 347 crore has also been imposed the company said in a regulatory filingâThe Company has received the order raising tax demand amounting to Rs 347388774 The demand is raised on account of the alleged misclassification of spare parts supplied by the companyâ the automaker said in its regulatory filingâThe order also imposes penalty amounting to Rs 34738877 According to tax authorities company being a manufacturer of automobiles the spare parts being customised product only used in manufacturing of vehicles would get classified as auto parts disregarding the principle of general rules of interpretationâ it addedThe order was issued by the Deputy Commissioner in Rudrapur who stated that since Bajaj Auto is a manufacturer of automobiles the spare parts supplied by the company should be treated as auto partsAuthorities claimed these parts are customised and used only in the manufacturing of vehicles and therefore should fall under a different tax categoryBajaj Auto has disagreed with the order and said it has been classifying its parts correctly for more than thirty yearsThe company said its classification follows the General Rules of Interpretation along with relevant section notes chapter notes and HSN explanatory notes It also said that past judicial rulings support its standAccording to the company the tax demand is not legally valid and it plans to contest the orderIt added that the order can be challenged and that it will follow the proper legal process to appealâThere is no material impact on financials operations or other activities of the Companyâ it statedShares of Bajaj Auto were trading 046 per cent lower at Rs 9051 on the BSE after the announcement IANS https://dailyworld.in/business/bajaj-auto-gets-rs-3474-crore-tax-demand-over-misclassification-of-spare-parts-651084.html Wed, 03 Dec 2025 00:23:00 +0530 https://dailyworld.in/business/pli-for-specialty-steel-sees-investments-worth-rs-23-022-crore-till-oct-centre-651090.html New Delhi Dec 2 Productionlinked incentive PLI scheme for specialty steel has seen investments from participating beneficiary companies worth Rs 23022 crore till October the Parliament was informed on Tuesday The scheme approved by the Union Cabinet in July 2021 with a budget of Rs 6322 crore aims to boost specialty steel production through financial incentives Minister of State for Steel and Heavy Industries Bhupathiraju Srinivasa Varma told the Lok Sabha in reply to a questionThe ministry is implementing a pilot project for the use of hydrogen in the steel sector under the National Green Hydrogen Mission launched by the Ministry of New and Renewable EnergyUnder the mission four pilot projects have been awarded in the steel sector so far Periodic revision of basic customs duty is made to ensure the availability of raw materials such as scrap at competitive prices for steel sector units in the country including Rajahmundry Varma addedSteel is a deregulated sector and the government acts as a facilitator by creating a conducive policy environment for the development of the steel sectorIn the year 202425 there were 2 and 9 steel rolling mills in the East Godavari and Visakhapatnam respectively in and around the Rajahmundry constituency The Steel Scrap Recycling Policy 2019 provides a coordination framework with various Ministries to facilitate and promote recycling of ferrous scrap generated from various sources the minister saidIn the first week of November Union Steel and Heavy Industries Minister HD Kumaraswamy launched the third round of the PLI scheme for specialty steelThe third round PLI 12 aims to attract new investments in emerging and advanced steel products such as super alloys CRGO stainless steel long and flat products titanium alloys and coated steelsThis is expected to generate significant employment expand highend steel capacity and position India as a preferred supplier in the global value chain for specialty steelsThe Steel Ministryâs PLI scheme has so far attracted a commitment for investment of Rs 43874 crore which is expected to create direct employment for 30760 people and an estimated production of 143 million tonnes of specialty steel IANS https://dailyworld.in/business/pli-for-specialty-steel-sees-investments-worth-rs-23-022-crore-till-oct-centre-651090.html Wed, 03 Dec 2025 00:29:00 +0530 https://dailyworld.in/business/over-1-825-mw-capacity-rooftop-solar-installed-on-91-574-govt-buildings-651091.html New Delhi Dec 2 An aggregate 182562 MW capacity rooftop solar has been installed on 91574 government buildings of various Central ministries and department and statesUTs till November 4 the Parliament was informed on Tuesday The Ministry of New and Renewable Energy had requested all statesUTs to issue necessary directions to all department and institutions of statesUTs for utilisation of vacant rooftops of their buildings for installation of solar panels All Central Government MinistriesDepartments have also been requested to issue necessary directions for installation of rooftop solar plants on all buildings owned by themâThe saturation of Government buildings by installation of rooftop solar is one of the components of the PM Surya Ghar Muft Bijli Yojanaâ said Minister of State for Power Shripad Yesso Naik in Rajya SabhaHowever no Central Financial Assistance CFA is available for government buildings as installation of rooftop solar plants is financially viable for them even without CFA he informedUnder the PM Surya Ghar Muft Bijli Yojana for individual households the CFA is Rs 30000 per kWp for the first 2 kWp and Rs 18000 per kWp for the additional one kWp The subsidy is capped at 3 kWp rooftop solar plant capacity for individual householdFor Group Housing SocietiesResidential Welfare Associations the CFA is Rs 18000 per kWp with rooftop solar plant capacity limit of 500 kWpIn case of special category statesUTs including Uttarakhand Himachal Pradesh JampK Ladakh States in the northeast region UTs of Andaman and Nicobar and Lakshadweep the CFA is 10 per cent higherâThere is currently no proposal to further increase the CFA under the schemeâ said the ministerThrough transformative initiatives like PMKUSUM PM Surya Ghar Muft Bijli Yojana PMJANMAN and One Sun One World One Grid India is leading efforts to ensure energy justice empower the poorest and strengthen SouthSouth cooperation IANS https://dailyworld.in/business/over-1-825-mw-capacity-rooftop-solar-installed-on-91-574-govt-buildings-651091.html Wed, 03 Dec 2025 00:32:00 +0530 https://dailyworld.in/business/indian-stock-market-settles-lower-amid-profit-booking-fii-selling-651095.html Mumbai Dec 2 The domestic equity indices ended lower on Tuesday amid profit booking FII outflow and concerns ahead of the RBIs key policy meet this week Sensex settled at 8513827 down 50363 points or 059 per cent The 30share index started the session lower at 8532551 against last sessions closing of 8564190 The index declined further amid selling in banking IT and other heavyweights touching an intraday low at 850530Nifty closed at 2603220 down 14355 points or 055 per centDomestic markets continued to witness profit booking amid worries over the weakening rupee and persistent FII outflows Meanwhile the NSEâs sectoral index overhaul in line with SEBI regulations led to corrections in major banking counters said analystsIn the near term fading expectations of an RBI rate cut owing to strong GDP data and the uncertainty around USIndia trade discussions may keep investors on edge the analysts addedFrom the Sensex basket ICICI Bank Axis Bank HDFC Bank BEL LampT PowerGrid Bajaj FinServ Mahindra and Mahindra ITC Tata Motors PV and HCL Tech closed in the negative territory Asian Paint Bharti Airtel Maruti Suzuki Bajaj Finance and Hindustan Unilever settled higherThe majority of sectoral indices traded lower amid selling pressure Nifty Fin Services fell 249 points or 010 per cent Nifty Bank slipped 407 points or 068 per cent Nifty Auto dipped 13 points or 005 per cent and Nifty FMCG closed 109 points or 020 per cent lowerMost sectors closed in the red with private banks and financial services leading the decline down 07 per cent and 08 per cent respectively In contrast the PSU Bank index gained 05 per cent marking its second consecutive day of gains said Siddhartha Khemka Head of Research Wealth Management Motilal Oswal Financial Services LtdRatesensitive sectors â including Auto Realty and Consumer Durables â saw profit booking amid cautious market sentiment Monthly auto volumes for November exceeded market expectations with wholesales showing strong postfestive growth across segments supported by festive order backlogs and normalisation of dealer inventory Khemka addedBroader indices followed suit as well Nifty Smallcap 100 fell 98 points or 055 per cent Nifty Midcap 100 dipped 132 points or 022 per cent and Nifty 100 ended the session 126 points or 047 per cent higher IANS https://dailyworld.in/business/indian-stock-market-settles-lower-amid-profit-booking-fii-selling-651095.html Wed, 03 Dec 2025 00:35:00 +0530 https://dailyworld.in/business/no-proposal-for-merger-or-disinvestment-of-public-sector-banks-govt-651096.html New Delhi Dec 2 No proposal on merger or disinvestment of public sector banks PSBs is under consideration of the government at the moment the Parliament was informed on Tuesday Replying to a question in the Rajya Sabha on whether the government has plans to disinvest four PSBs or to merge with larger banks by 2026 Minister of State for Finance Pankaj Chaudhary said Presently no proposal on merger or disinvestment of Public Sector Banks PSBs is under consideration of the GovernmentThere were reports claiming that the government is working on a PSB consolidation blueprint that could reduce the number of stateowned lenders from 12 to just four in FY27 The proposal reportedly planned to strengthen balance sheets improve operational efficiency and create globally competitive banking institutionsChaudhary also informed the house that the gross nonperforming assets NPAs ratio in public sector banks PSBs has declined from 927 per cent in March 2016 to 258 per cent in March 2025 and further to 251 per cent in JuneSimilarly the slippage ratio fresh accretion of NPAs as a percentage of standard advances declined from 75 per cent in March 2016 to 10 per cent in March 2025 and further to 09 per cent in June 2025 he addedFurther recovery in writtenoff loans is an ongoing process and banks continue pursuing their recovery actions initiated against borrowers under the various recovery mechanisms available to themThe minister further said that the RBI has advised lenders to submit the list of wilful defaulters to all Credit Information Companies CICs on a monthly basis and CICs are required to display the same on their respective websites The details of wilful defaulters of Rs 25 lakh and above is available in the public domain and can be accessed at the following URL of credit information companies registered with and regulated by the RBI IANS https://dailyworld.in/business/no-proposal-for-merger-or-disinvestment-of-public-sector-banks-govt-651096.html Wed, 03 Dec 2025 00:36:00 +0530 https://dailyworld.in/business/swadeshi-mela-in-may-2026-to-showcase-strength-of-indias-trade-craftsmanship-651098.html New Delhi Dec 2 The Confederation of All India Traders CAIT said on Tuesday that Indiaâs largestever trade event namely Swadeshi Melaâ2026 will be hosted at Pragati Maidan in May 2026 to bring Made in India products on a unified national platform To bring together Indiaâs domestic trade startup ecosystem small industries artisans MSMEs and Made in India products on a unified national platform CAIT in collaboration with Swadeshi Jagran Manch and several other major national organisations will conduct the event according to a releaseThe association said that a national steering board meeting comprising top trade and industry leaders from all states will be held on December 4 to finalise the eventâs framework theme exhibition structure and nationwide promotional strategyCAIT National Secretary General and Member of Parliament from Chandni Chowk Praveen Khandelwal said that the event will showcase the strength of Indiaâs trade industry and craftsmanship and serve as the biggest platform to provide global visibility to Made in India products and elevate Indian entrepreneurship to newer heightsFor industries startups women entrepreneurs artisans and small manufacturers across the country this will be a golden opportunity to present their products and innovations before national and international markets Khandelwal addedBesides national trade organisations leaders from farmer bodies transport and logistics travel and tourism MSMEs and startup communities have been invited he saidNational leaders from Laghu Udyog Bharati MSME Development Forum Federation of Small Industries Association and professional bodies are also expected to participate in the event the release saidA nationwide campaign will be launched to invite stalls for Swadeshi products from across the country the association said adding committees will be formed for various sectors including industry trade startups women entrepreneurs Ayurveda handloom handicraft technology ecommerce etc IANS https://dailyworld.in/business/swadeshi-mela-in-may-2026-to-showcase-strength-of-indias-trade-craftsmanship-651098.html Wed, 03 Dec 2025 00:39:00 +0530 https://dailyworld.in/business/prada-group-buys-versace-in-137-billion-deal-651105.html New Delhi Dec 2 The Prada Group on Tuesday announced that it has officially acquired luxury fashion label Versace in a deal worth 137 billion With this move Versace will now operate under the same umbrella as Prada and Miu Miu bringing together some of Italyâs most influential fashion brandsThe deal marks the end of Versaceâs ownership under Capri Holdings the USbased luxury group that had controlled the brand through the postpandemic yearsCapri Holdings said the money received from the sale will be used to repay most of its debt a step that will strengthen its financial position and improve its flexibility for future investmentsJohn D Idol Chairman and CEO of Capri Holdings said the sale will help reduce the companys debt burden and improve its leverage ratioHe added that Capri will now focus on growing its remaining brands Michael Kors and Jimmy Choo and expects the company to stabilise this year and return to growth by fiscal 2027Versace has faced challenges in recent years with slower retail growth after 2022 and a mixed performance in early 2025Capri Holdings noted in its filings that Versaceâs sales did not keep up with expectations compared to its prepandemic momentumWith the acquisition Versace will now join Pradaâs global portfolio which is known for its experimental fashion strong tailoring and selective distributionThe move is expected to reshape Milanâs luxury landscape bringing two of Italyâs most iconic fashion houses under one ownership structureIndustry observers say the deal could help streamline manufacturing distribution and pricing strategies across the brandsIt may also help Versace revive its performance with better access to capital and stronger longterm planning under Pradaâs managementThe acquisition is complete and is not expected to change beyond the standard postclosing processesMarket experts believe the new ownership could help Versace enter a new phase of growth backed by Pradaâs financial stability and brandbuilding experience IANS https://dailyworld.in/business/prada-group-buys-versace-in-137-billion-deal-651105.html Wed, 03 Dec 2025 00:47:00 +0530 https://dailyworld.in/business/indias-annual-corporate-tax-collection-jumps-over-200-per-cent-in-4-years-651107.html New Delhi Dec 2 Indias corporate tax collection has more than doubled from Rs 457719 crore in 202021 to Rs 986767 crore in 202425 the Parliament was informed on Tuesday Minister of State for Finance Pankaj Choudhary told in the Rajya Sabha aid in a written reply to a question that the RBI in the article Resilience and Revival Indiaâs Private Corporate Sector in its monthly bulletin for October 2025 has stated that during Covid despite contraction in sales decline in raw material cost due to softening of commodity prices subdued wage growth along with the favorable base effect net profit at aggregate level rose sharply by 1156 per centConsequently net profit margin surpassed its preCovid level During postCovid period with a sharp rebound in sales growth led by pentup demand corporatesâ profit increased significantly from Rs 25 lakh crore in 202021 to Rs 71 lakh crore during 202425The corresponding increase in corporate taxes between FY 202021 to FY 202425 is more than 200 per cent despite a reduction in corporate rates the minister statedChaudhary said that corporate tax rates have been gradually reduced over the years since 2016 to promote growth boost investment and create more job opportunities At the same time exemptions and incentives available to the corporates have also been phased out to simplify the tax systemThe Finance Act 2016 reduced corporate tax rates to 29 per cent of the total income Then under the Finance Act 2017 the corporate tax rates were reduced to 25 per cent of the total income to inter alia make smaller domestic companies having an annual turnover of Rs 50 crore more viable and to encourage firms to migrate to the company format Similarly in 2019 corporate tax rates were reduced to 22 per centVide the Finance Act 2024 tax rates have been reduced from 40 per cent to 35 per cent on the income of foreign companies other than that chargeable at special rates to promote investment and employmentThe minister highlighted that the tax base over the years has increased which can be attributed to several legislative administrative and enforcement measures taken by the government to improve voluntary compliance and widen the tax netThese include NUDGE Nonintrusive usage of data to guide and enable taxpayer campaigns to improve the compliance ecosystem and to assist taxpayers in reviewing their ITRs and correcting mistakes if any by filing revised ITRsExpansion of the scope of provisions of TDS and TCS to cover more types of financial transactions expansion and strengthening of thirdparty financial transaction reporting to obtain a wider range of data to identify tax evasion or underreporting of income were other measures taken in this regardBesides the implementation of the nonfilers monitoring system NMS to identify potential taxpayers on the basis of thirdparty data and mandatory quoting of PAN and linking of PAN and Aadhaar helped to expand the tax baseAction was also initiated against the generation and use of black money both inside and outside the country through legislations such as the Black Money Undisclosed Foreign Income and Assets and Imposition of Tax Act 2015 and the Benami Transactions Prohibition Amendment Act 2016Apart from this promotion of voluntary compliance through a high level of taxpayer service expeditious resolution of grievances ease of paying taxes and filing returns promotion of digital transactions was also undertaken to enhance tax collections the minister added IANS https://dailyworld.in/business/indias-annual-corporate-tax-collection-jumps-over-200-per-cent-in-4-years-651107.html Wed, 03 Dec 2025 00:49:00 +0530 https://dailyworld.in/business/centre-has-disbursed-rs-1-635-crore-as-subsidy-under-pm-e-drive-scheme-minister-651109.html New Delhi Dec 2 The government has disbursed Rs 163462 crore as subsidy under the PM EDRIVE Scheme till November 23 this year the Parliament was informed on Tuesday Minister of State for Heavy Industries Bhupathiraju Srinivasa Varma in a written reply to a question in the Lok Sabha said that an allocation of Rs 500 crore has been made under the PM EDRIVE Scheme towards eambulances and stakeholder consultations have been done to notify guidelines for eambulancesThe scheme has been extended till March 31 2028 for eambulances including other segments but for e2Ws and e3Ws the terminal date remains March 31 2026 he addedVerma further stated that under the PM EDRIVE scheme there is an allocation of Rs 2000 crore for the setting up of electric vehiclesâ public charging infrastructure As on November 23 this year no grants have been disbursed for the installation of such charging infrastructure Two oil marketing companies have shown interest and submitted proposals for the installation of electric vehiclesâ public charging infrastructure under the PM EDRIVE SchemeHe also said that under the PM EDRIVE Scheme 1500 ebuses have been allocated to Mumbai and 2800 ebuses have been allocated to Delhi Other than Mumbai 1000 ebuses have been allocated to Pune in MaharashtraIn order to ensure utilisation accessibility the guidelines for EV charging infrastructure under the PM EDrive Scheme have been notified and shared with the state governments and UT administrations he addedThe Ministry of Heavy Industries MHI has issued operational guidelines which earmark an outlay of Rs 200 crore for offering subsidies of up to 100 per cent for setting up public charging stations for electric vehicles in cities and across highways under the Rs 10900 crore PM EDRIVE schemeGovernment premises such as offices hospitals educational institutions and Central public sector enterprises will receive 100 per cent subsidy on both upstream infrastructure and EV charging equipment provided the chargers offer free public access the guidelines stateIn the case of bus stations operated by state transport undertakings metro stations municipal parking lots public sector ports and NHAIstate governmentcontrolled toll plazas amp wayside amenities on highways and expressways the subsidy will cover 80 per cent of upstream infrastructure and 70 per cent of EV supply equipment costLocations like airports railway stations fuel retail outlets of staterun oil marketing companies like Indian Oil Bharat Petroleum and Hindustan Petroleum metro stations and bus depots will get 80 per cent subsidy on infrastructure and 70 per cent on charging equipmentBattery swapping and charging stations are also covered with an 80 per cent subsidy supportThe scheme will give priority to urban centres with a population of over one million smart cities satellite towns connected to 7 metros Delhi Mumbai Kolkata Chennai Hyderabad Bengaluru and Ahmedabad state capitals and highdensity national and state highways Public transport hubs such as railway stations airports and fuel retail outlets have also been earmarked for receiving infrastructure support IANS https://dailyworld.in/business/centre-has-disbursed-rs-1-635-crore-as-subsidy-under-pm-e-drive-scheme-minister-651109.html Wed, 03 Dec 2025 00:51:00 +0530 https://dailyworld.in/business/rbi-guides-banks-to-provide-customer-services-in-regional-languages-as-per-local-needs-minister-651119.html New Delhi Dec 2 The government on Tuesday said that the guidelines issued by the Reserve Bank of India RBI on customer services in banks provides comprehensive directions on usages of regional languages so that banks could align their service delivery as per the regional needs In a written reply to a question in Rajya Sabha Minister of State for Finance Pankaj Chaudhary said that banks have also been advised to have a Board approved policy for general management of the branches including inter alia display indicator boards at all the counters provide customers with booklets consisting of all details of service and facilities available at the bank make available all printed material like opening forms payinslips and passbooks etc used by retail customers availability of customer redressal etc in Hindi English and concerned regional languageFurther banks are having multilingual contact centres and digital channels to provide banking services and offer assistance in the regional languages he informedMoreover the Department of Financial Services DFS has also advised Public Sector Banks PSBs to comply to RBIâs instructions on usage of concerned regional languages with respect to customer service in banksFurther RBI in communication to Schedule Commercial Banks SCBs has reiterated that all communications to customers should invariably be issued in a trilingual formatHindi English and the regional languageAccording to the minister the Indian Banksâ Association IBA in its communication to all PSBs has advised that they may have a policy on recruitment of Local Bank Officers LBOs to ensure effective communications with the local customers in their local language more particularly in Rural and semiurban centres and the same is being actively pursued by PSBsMoreover the customer service functions at the frontend in PSBs are primarily dealt by the Customer Service Associates CSAs wherein during the recruitment process CSAs are now required to pass a Local Language Proficiency Test LPT for the official language of the State or Union Territory where the staff shall be postedThis facilitates seamless communication in regional languages resulting in effective customer services said Chaudhary IANS https://dailyworld.in/business/rbi-guides-banks-to-provide-customer-services-in-regional-languages-as-per-local-needs-minister-651119.html Wed, 03 Dec 2025 01:05:00 +0530 https://dailyworld.in/business/jampk-under-atma-scheme-farmers-get-training-to-raise-production-in-orchards-and-farms-651124.html Jammu Dec 2 To double the income of horticulturists in Jammu and Kashmirâs Udhampur the district administration has selected a group of 35 farmers who are being sent to the Palampur Horticulture University and Agriculture University Ludhiana in Punjab for training them in the most modern tools of agricultural practices This visit aims to expose the farmers to advanced horticulture techniques and modern practices to boost productivity and profitability in their own orchards and farmsThe ATMA scheme focuses on enhancing technology use in agriculture and allied sectors through training exposure visits and capacity building of farmers enabling them to adopt innovative methods for better incomeThe initiative is also inspiring the younger generation who are increasingly showing interest in horticulture Several young participants joining this tour shared that they are eager to learn modern techniques and gain handson experience in orchard managementThey believe that such training will not only enhance their skills but also help them become selfreliant and establish a strong foundation for their future in the horticulture sectorVishal a beneficiary of the scheme told IANS âToday we are going on a horticulture tour to Palampur Horticulture University and Punjab Agricultural University Ludhiana to learn about the latest technologies being used While we are benefiting from various schemes we do not fully know how to use them effectively so this will be a great opportunity for trainingâChief Horticulture Officer Brij Vallabh Gupta said â35 people from Udhampur are being sent for training outside Jammu and Kashmir to learn new technologies They will replicate these methods locally teach their neighbours and help increase livelihoods in their communitiesâPawan Kumar Gupta local legislator told newsmen âThe tour will first visit Palampur and then Ludhiana There participants will study the minute details of horticulture practices in different farming areas This tour has been organised specifically for that purposeâ IANS https://dailyworld.in/business/jampk-under-atma-scheme-farmers-get-training-to-raise-production-in-orchards-and-farms-651124.html Wed, 03 Dec 2025 01:10:00 +0530 https://dailyworld.in/business/indias-gdp-likely-to-grow-at-72-pc-this-fiscal-report-651125.html New Delhi Dec 2 Indiaâs gross domestic product growth is expected to grow 64 per cent in the third quarter and 63 per cent in the fourth quarter of fiscal 2026 a report said on Tuesday The report from rating agency Brickwork Ratings also said that it revised its fullâyear real GDP growth forecast to 72 per cent from 68 per cent due to strong private consumption robust investment activity sustained public expenditure favourable monsoon trade diversification and positive effects of GST reformsThe firm maintained that GST cuts provide partial relief but are insufficient to fully offset tradeârelated headwinds Inflation is expected to stay moderate aided by food stability and easing core pressures while global commodity volatility remains the key risk it saidFurther the exceptionally low readings create a base effect that will mechanically lift headline inflation in Q4 FY26 even if underlying price trends remain benignWhile domestic demand and reform momentum provide a strong foundation external risksâincluding tariff actions global demand softness and energy import dependenceârequire continued vigilance said Rajeev Sharan Head â Criteria Model Development amp Research Brickwork RatingsIndiaâs robust sectoral momentum is bolstering macroeconomic resilience and strengthening fiscal revenues though sectoral imbalances underscore the need for broader diversification to sustain investor confidence he saidWhile global headwinds especially weak demand in Europe and China and the US tariff may weigh on exports domestic resilience driven by government capex and digital manufacturing should sustain momentumThe outlook for H2 FY2026 remains positive supported by infrastructure spending manufacturing incentives and a lift in consumer spending in Q3 due to the festive season in India the firm anticipatedRecovery in mining and electricity towards the end of 2025 is expected to support IIP growth it said IANS https://dailyworld.in/business/indias-gdp-likely-to-grow-at-72-pc-this-fiscal-report-651125.html Wed, 03 Dec 2025 01:10:00 +0530 https://dailyworld.in/business/telangana-planning-drone-manufacturing-testing-corridor-651136.html Hyderabad Dec 2 Telangana is planning to establish a Drone Manufacturing and Testing Corridor to boost indigenous defence capabilities said State Minister for Information Technology and Industries Duddilla Sridhar Babu on Tuesday He said that Telangana is working towards positioning itself as the âDefence Strategic Hub of Indiaâ by developing a strong ecosystem for unmanned systems and advanced defence manufacturingThe government is preparing a comprehensive roadmap to transform Telangana into a global leader in defence innovation with a special focus on unmanned aerial systems drone technologies and aerospace manufacturingSridhar Babu was speaking at the Bhoomi Pooja ceremony for the proposed JSW Unmanned Aerial Vehicle UAV Facility at the Electronic Manufacturing Cluster EMC Maheshwaram on the outskirts of Hyderabad The facility is being established by JSW Defence in partnership with Shield AI with an investment of Rs 850 croreObserving that drones satellites cyber systems and artificial intelligence have become integral to modern warfare the Minister said achieving selfreliance in drone manufacturing was crucial for national security in the current geopolitical environmentHe said Indiaâs domestic defence UAV and drone market is projected to grow to 44â5 billion by 2030 adding that Telangana is positioning itself to leverage this growth by creating a worldclass manufacturing and innovation ecosystemThe Minister noted that the presence of global defence firms such as Elbit Systems and Schiebel in Hyderabad reflected Telanganaâs rising stature in the defence and aerospace sectorThe upcoming facility spread across 16 acres will manufacture up to 300 VBAT drones annually and is expected to commence operations by the end of next year The unit will include integrated production repair and testing capabilities and is expected to generate around 300 skilled jobsMLA Malreddy Ranga Reddy and senior officials were present at the ceremony IANS https://dailyworld.in/business/telangana-planning-drone-manufacturing-testing-corridor-651136.html Wed, 03 Dec 2025 01:21:00 +0530 https://dailyworld.in/business/indian-railways-records-42-per-cent-increase-in-freight-loading-in-november-651147.html New Delhi Dec 2 Indian Railways recorded a 42 per cent increase in freight loading to 1357 million tonnes in November this year compared with the corresponding figure of 1302 million tonnes in the same month last year according to an official statement issued on Tuesday The growth has been primarily driven by significant gains in the transport of key commodity segments including pig iron and finished steel 16 per cent iron ore 97 per cent fertilisers 106 per cent containers 68 per cent and other goods 236 per cent reflecting healthy diversification in freight traffic the statement saidIndian Railways has recorded a 33 per cent increase in freight loading 10708 million tonnes on a cumulative basis up to November this year This milestone is particularly significant given that the Indian Railways has moved more freight in just eight months of FY 2025â26 than it did in the entire year of 2013â14 when total loading stood at 1055 million tonnes according to an official statement issued on TuesdayThis sustained growth is strengthening industrial supply chains supporting both domestic and international trade and providing a more sustainable costefficient logistics ecosystem With rail transport costing nearly half as much as road transport the impact of this cost advantage is further amplified creating substantial savings for businesses and contributing to broader economic gains the statement saidAs more bulk goods shift to rail the benefits extend well beyond commercial performance Rail transport reduces carbon emissions decongests highways and offers industries including MSMEs a greener and more reliable logistics alternative This shift reinforces Indiaâs commitment to sustainable growth aligning freight operations with the nationâs Net Zero Carbon Emission goals and further positioning Indian Railways as a key driver of both economic and environmental progress the statement saidAs India advances toward its aspiration of becoming a 5 trillion economy the need for efficient reliable and scalable logistics remains central to this journey Indian Railways is playing an increasingly pivotal role by moving goods at an unprecedented scale reducing logistics costs and enabling industries to grow faster and more sustainably At the same time Indian Railways is carrying over two crore passengers every day thereby reinforcing the backbone of Indiaâs transport ecosystem the statement added IANS https://dailyworld.in/business/indian-railways-records-42-per-cent-increase-in-freight-loading-in-november-651147.html Wed, 03 Dec 2025 01:34:00 +0530 https://dailyworld.in/business/auto-sector-shines-in-festive-quarter-pv-sales-up-12-pc-two-wheelers-18-pc-651155.html New Delhi Dec 2 The Indian automobile sector witnessed a robust festive season SeptemberOctoberNovember as passenger vehicle PV wholesale was up 12 per cent yearonyear YoY and retail was up 15 per cent while twowheeler 2W wholesale was up 9 per cent YoY and retail up 18 per cent YoY a report said on Tuesday This implies inventory is manageable and December could be another strong month with low discountsThe 2W witnessed continued demand especially in entrylevel segments during the period HSBC Global Investment Research said in its reportPV demand has been good so far but we have yet to see any meaningful growth from firsttime buyers or entrylevel segments If this trend persists we might see an increase in discounts in the fourth quarter the report addedCV sales growth was strong on the back of pentup demand post monsoon and the mediumheavy commercial vehicle MHCVs to grow by 56 per cent YoY in FY26Among fourwheelers Marutis overall volumes rose 26 per cent YoY as domestic sales grew 21 per cent and exports by 61 per cent Within domestic sales car sales increased by 19 per cent YoY but UVs declined by 23 per cent YoYMampMs SUV wholesale was 563k units up 22 per cent Tatas PV volumes grew 26 per cent YoY with EVs up 52 per cent Meanwhile Hyundai domestic sales rose 43 per cent while its exports were up 352 per cent in NovemberAmong the twowheeler manufacturers Bajajs domestic 2W volume was flat YoY while exports were up 77 per cent TVS 2W volumes rose 27 per cent YoY with domestic volumes growing at 20 per cent and exports at 52 per cent Meanwhile REs domestic volume increased 25 per cent YoY and exports by 24 per cent YoYAt the same time tractor manufacturer MampMs domestic volume grew by 33 per cent while Escorts grew by 16 per cent YoY MampMs exports increased 88 per cent while Escorts grew 88 per cent YoY on a smaller baseThe overall commercial vehicle CV volumes for key original manufacturers OEMs rose 28 per cent YoY with light commercial vehicles LCVs up by 29 per cent MHCVs up 33 per cent YoY and buses up 105 per centTata Motors truck sales rose 345 per cent and overall CV sales were up 356 per cent Eichers HCV truck domestic CV volumes rose 41 per cent and its overall CV sales were up 36 per cent IANS https://dailyworld.in/business/auto-sector-shines-in-festive-quarter-pv-sales-up-12-pc-two-wheelers-18-pc-651155.html Wed, 03 Dec 2025 01:41:00 +0530 https://dailyworld.in/business/credit-card-spends-ease-in-october-as-pointofsale-transactions-grow-22pc-651156.html New Delhi Dec 2 Credit card spending eased by Rs 25 billion in October to Rs 2142 billion a moderation of 11 per cent monthâonâmonth but an increase of 61 per cent yearâonâyear driven by a sharp shift toward pointâofâsale transactions a report said on Tuesday The strong POS growth can likely be attributed to festive Diwali spending whereas muted online spends are due to the elevated base of the previous month the report from Asit C Mehta Investment Intermediates Limited saidPointâofâsale transactions grew 22 per cent monthâonâmonth and 114 per cent yearâonâyear while online spending declined 127 per cent MoM and rose 27 per cent YoY The top 10 banks accounted for 94 per cent of total spending with HDFC Bank recording the highest MoM spending market share gain in OctoberAn increase of 67 per cent is seen in the total number of cards outstanding on a YoY basis adding a total of 063 million cards the report saidTransaction volumes saw a healthy growth of 46 per cent MoM and 192 per cent YoY The YoY growth is lower than the historical average due to a high base last yearSince volume growth outpaced spend growth the average spend per transaction declined by 6 per cent MoM and 11 per cent YoY With card issuance rising and overall spending remaining flat the average spend per card declined 17 per cent MoM and 05 per cent YoYIndusInd Bank reported a steep 36 per cent MoM decline in average spend per card due to a sharp fall of 34 per cent in its total spendsAmong major banks HDFC Bank led with 014 million new cards followed by SBI 013mn ICICI Bank 01mn and Axis Bank 008mn HDFC Bank reported the highest YoY gain of 112 per cent IANS https://dailyworld.in/business/credit-card-spends-ease-in-october-as-pointofsale-transactions-grow-22pc-651156.html Wed, 03 Dec 2025 01:42:00 +0530 https://dailyworld.in/business/rbi-retains-sbi-hdfc-bank-amp-icici-bank-in-systemically-important-category-651158.html Mumbai Dec 2 The Reserve Bank of India announced on Tuesday that State Bank of India SBI HDFC Bank and ICICI Bank will continue to be classified as the countryâs systemically important banks The RBI had announced the SBI and the ICICI Bank as domestic systemically important banks DSIB in 2015 and 2016 In 2017 the HDFC Bank was added to the list The current update is based on the data collected from banks as on March 31 2025 according to an official statementSystemically important banks are considered too big to fail due to their size crossjurisdictional activities lack of substitutability and interconnectedness Any failure of these banks has the potential to cause largescale disruption to the essential services they provide to the banking system and overall economic activityBased on the bucket in which a DSIB is placed an additional common equity requirement has to be applied to itThe RBI issued a directive on Tuesday that while the SBI must maintain an additional capital requirement of 080 per cent of its riskweighted assets the HDFC Bank is required to maintain an additional 040 per cent and the ICICI Bank 020 per centThe DSIB framework which was issued in 2014 by the RBI requires the central bank to disclose the names of banks designated as DSIBs and place these banks in appropriate buckets depending upon their systemic importance scores SISsThe Reserve Bank had issued the âFramework for dealing with Domestic Systemically Important Banks DSIBsâ on July 22 2014 which was subsequently updated on December 28 2023The DSIB framework requires the Reserve Bank to disclose the names of banks designated as DSIBs starting from 2015 and place these banks in appropriate buckets depending upon their Systemic Importance Scores SISIn RBI parlance Common Equity Tier 1 CET1 requirements for Domestic Systemically Important Banks DSIBs involve an additional CET1 capital surcharge above the standard Basel III requirements with the exact percentage depending on which bucket the bank is placed in based on its systemic importance scoreBased on the bucket in which a DSIB is placed an additional CET1 requirement has to be applied to it In case a foreign bank having branch presence in India is a Global Systemically Important Bank GSIB it has to maintain additional CET1 capital surcharge in India as applicable to it as a GSIB proportionate to its Risk Weighted Assets RWAs in India ie additional CET1 buffer prescribed by the home regulator amount multiplied by India RWA as per consolidated global Group books divided by total consolidated global Group RWA IANS https://dailyworld.in/business/rbi-retains-sbi-hdfc-bank-amp-icici-bank-in-systemically-important-category-651158.html Wed, 03 Dec 2025 01:45:00 +0530 https://dailyworld.in/business/manufacturing-sector-accounts-for-78-per-cent-of-foreign-technical-collaborations-rbi-651162.html New Delhi Dec 2 The foreign technical collaboration FTCs in the manufacturing sector entities accounted for 784 per cent of the total reported FTCs of which machinery and motor vehicles together accounted for 306 per cent while FTCs in the services sector constituted 166 per cent between financial year 20232025 FY2325 data from Reserve Bank of India RBI showed on Tuesday Japan the US and Germany remained the top three countries contributing to the technical collaborations in the Indian entitiesAround 61 per cent of FTCs involved technology knowhow transfer by the foreign collaborators and 8 per cent of FTCs were for the use of trademarks or brand names the RBI notedMeanwhile royalty payments including both royalty and lump sum technical fees were the payment mode for around twothirds of FTCsOf the 601 reported FTC agreements 187 had export restriction clauses and 188 FTC agreements had a provision for exclusive rights on assets transferred the central bank highlightedThe manufacturing sector had the highest share of production value among the FTC companies Within manufacturing the motor vehicles sector had the largest shareThe exports of the FTC reporting entities grew at a faster pace 203 per cent as compared to the imports 46 per cent in 202425 they had 177 per cent and 186 per cent shares respectively in the total value of productionThe data showed in the fifteenth round of the biennial survey on foreign collaboration in Indian industry FCS covering the financial years 202324 and 202425This survey captures information on financial parameters and operations of the Indian companies having technical collaboration with foreign companies during the reference period as per the attachedIn the latest survey round 601 foreign technical collaboration FTC agreements were reported by 255 Indian entities of which 163 entities had participated in the previous survey round RBI informed IANS https://dailyworld.in/business/manufacturing-sector-accounts-for-78-per-cent-of-foreign-technical-collaborations-rbi-651162.html Wed, 03 Dec 2025 01:51:00 +0530 https://dailyworld.in/business/india-to-remain-worlds-fastest-growing-economy-in-fy26-oecd-651164.html New Delhi Dec 2 India remains the worldâs fastestgrowing major economy with an expected growth of 67 per cent in 202526 driven by higher private consumption and buoyant government expenditure on infrastructure projects according to the economic outlook report released by the Organisation for Economic Cooperation and Development OECD on Tuesday Indiaâs real GDP is projected to grow by 67 per cent in fiscal year 202526 62 per cent in 202627 and 64 per cent in 202728 Higher tariffs applied by the United States are expected to weigh on exports but private consumption will be supported by rising real incomes as inflation remains low and consumption taxes decline the report saidBuoyant investment will be sustained by declining borrowing costs and strong public capital expenditure Current low headline inflation is projected to gradually converge towards the 4 per cent target Risks are broadly balanced Bilateral negotiations with the US could lead to lower tariffs and boost exports and investment while higher oil import prices could create inflation pressures the report further statedIt also pointed out that the current broadly neutral fiscal stance balances support to growth in the face of global trade headwinds with the need to rebuild fiscal buffers and bring public debt to a more prudent path Sustaining strong public investment and encouraging private participation through enhanced publicprivate partnerships would speed up infrastructure development and ease persistent bottlenecks the report observedJust ahead of the RBIâs monetary policy committee review meeting on December 35 the OECD report states that Indiaâs monetary policy has eased since the beginning of the year but with belowtarget inflation and belowtrend growth there is room for further cuts in the policy rateIndiaâs growth surged to 82 per cent print for the second quarter of FY26 leading to economists raising their forecast to over 7 per cent for FY26The OECD report also states that the global economy has proved resilient this year but underlying fragilities remain It projects global growth slowing from 32 per cent in 2025 to 29 per cent in 2026 before picking up to 31 per cent in 2027GDP growth in the US is projected to decline from 20 per cent in 2025 to 17 per cent in 2026 and 19 per cent in 2027 In the Euro area growth is expected to be 13 per cent in 2025 12 per cent in 2026 and 14 per cent in 2027 Chinaâs growth is projected to ease from 5 per cent in 2025 to 44 per cent in 2026 and 43 per cent in 2027 IANS https://dailyworld.in/business/india-to-remain-worlds-fastest-growing-economy-in-fy26-oecd-651164.html Wed, 03 Dec 2025 01:53:00 +0530 https://dailyworld.in/business/imported-car-sales-in-s-korea-jump-23-pc-in-nov-651187.html Seoul Dec 3 Sales of imported vehicles in South Korea jumped 23 per cent in November from a year earlier buoyed by strong demand for Tesla and German models industry data showed on Wednesday New registrations of imported cars rose to 29357 units last month from 23784 a year earlier according to the Korea Automobile Importers amp Distributors Association KAIDA reports Yonhap news agencyThe three bestselling models in November were the Tesla Model Y the MercedesBenz E200 sedan and the Tesla Model Y Long Range the data showedSales of Tesla vehicles more than doubled to 7632 units from 3618 a year earlierBy fuel type hybrid vehicles accounted for 51 per cent of monthly sales with 15064 units followed by electric vehicles EVs at 37 per cent gasoline models at 109 per cent and diesel cars at 11 per centFrom January to November imported vehicle sales climbed 163 per cent to 278769 units up from 239764 in the same period last yearThree German automakers Volkswagen Group Korea BMW Group Korea and MercedesBenz Korea sold a combined 155292 units in the first 11 months up 32 per cent from 150447 a year earlierGerman brands accounted for 6 out of every 10 imported vehicles sold in South Korea during the 11month periodMeanwhile the data protection regulator said Wednesday that ecommerce giant Coupang Inc did not properly notify its customers of its recent major data breach demanding a corrected notification of a personal information leak from an exposure of such dataThe Personal Information Protection Commission PIPC made the decision in an emergency meeting after the company said last week personal information of 337 million customers had been compromised including names addresses and phone numbersWhile Coupang notified affected users of the breach the PIPC said the company merely described it as personal information being exposed when it was aware that such data had been leakedThe regulator said Coupang also partially omitted types of data affected while announcing the breach on its website for just one to two days IANS https://dailyworld.in/business/imported-car-sales-in-s-korea-jump-23-pc-in-nov-651187.html Wed, 03 Dec 2025 09:34:00 +0530 https://dailyworld.in/business/sensex-nifty-open-flat-as-it-and-parma-gain-651197.html Mumbai Dec 3 The Indian stock market opened on a quiet note on Wednesday with both benchmark indices showing minimal movement in early trade The Sensex inched up by just 12 points to 85151 while the Nifty slipped 18 points to 26014Most of the major Sensex stocks were trading in the red dragging the indices sideways Shares of HUL Titan Tata Motors PV NTPC BEL Trent Bajaj Finserv Kotak Bank Ultratech Cement Maruti Suzuki LampT Power Grid and ITC were among the top losers in the morning sessionDespite the broader weakness some heavyweights helped limit the downside TCS Infosys Eternal HCL Tech Axis Bank Tech Mahindra and Adani Ports were trading higher providing support to the indicesIn the broader market mid and smallcap stocks showed resilience The Nifty MidCap index managed to rise 002 per cent while the Nifty SmallCap index gained 008 per cent after erasing early lossesSectorwise IT and pharma stocks outperformed the market The Nifty IT index rose 07 per cent and the Nifty Pharma index added 03 per centThese sectors benefited from the Indian Rupee hitting a record low as many companies in these industries earn a significant part of their revenue in dollars while most of their expenses are in rupeesOn the other hand PSU bank stocks were under pressure with the Nifty PSU Bank index falling 06 per cent in early tradeAnalysts said that the market remained rangebound as mixed global cues and a weak currency influenced investor sentimentThe ideal strategy for investors in this period of uncertainty is to remain invested in high quality growth stocks in the large and midcap segments Smallcaps as a segment continues to be overvalued and are therefore best avoided market watchers added IANS https://dailyworld.in/business/sensex-nifty-open-flat-as-it-and-parma-gain-651197.html Wed, 03 Dec 2025 10:10:00 +0530 https://dailyworld.in/business/sensex-nifty-open-flat-as-it-and-pharma-gain-651199.html Mumbai Dec 3 The Indian stock market opened on a quiet note on Wednesday with both benchmark indices showing minimal movement in early trade The Sensex inched up by just 12 points to 85151 while the Nifty slipped 18 points to 26014Most of the major Sensex stocks were trading in the red dragging the indices sideways Shares of HUL Titan Tata Motors PV NTPC BEL Trent Bajaj Finserv Kotak Bank Ultratech Cement Maruti Suzuki LampT Power Grid and ITC were among the top losers in the morning sessionDespite the broader weakness some heavyweights helped limit the downside TCS Infosys Eternal HCL Tech Axis Bank Tech Mahindra and Adani Ports were trading higher providing support to the indicesIn the broader market mid and smallcap stocks showed resilience The Nifty MidCap index managed to rise 002 per cent while the Nifty SmallCap index gained 008 per cent after erasing early lossesSectorwise IT and pharma stocks outperformed the market The Nifty IT index rose 07 per cent and the Nifty Pharma index added 03 per centThese sectors benefited from the Indian Rupee hitting a record low as many companies in these industries earn a significant part of their revenue in dollars while most of their expenses are in rupeesOn the other hand PSU bank stocks were under pressure with the Nifty PSU Bank index falling 06 per cent in early tradeAnalysts said that the market remained rangebound as mixed global cues and a weak currency influenced investor sentimentThe ideal strategy for investors in this period of uncertainty is to remain invested in high quality growth stocks in the large and midcap segments Smallcaps as a segment continues to be overvalued and are therefore best avoided market watchers added IANS https://dailyworld.in/business/sensex-nifty-open-flat-as-it-and-pharma-gain-651199.html Wed, 03 Dec 2025 10:11:00 +0530 https://dailyworld.in/business/rupee-crashes-to-record-low-beyond-90-per-dollar-651200.html New Delhi Dec 3 The Indian rupee fell sharply on Wednesday slipping past the crucial 90perdollar level for the first time ever The currency dropped to a new record low of 9013 against the US dollar breaking its previous alltime low of 899475 touched just a day earlierThe decline in the rupee came amid weak trade and portfolio flows along with growing uncertainty over the IndiaUS trade dealThese factors kept the currency under continuous pressure throughout the sessionThe sharp fall in the rupee also weighed on domestic equity markets The Nifty index slipped below the 26000 mark reflecting cautious sentiment among investorsThe Sensex also dropped nearly 200 points in early trade as the weakening currency raised concerns about inflation and foreign investor activityAnalysts said that the market mood remained tense as traders watched for signs of stability in the rupee and clarity on trade negotiations between India and the United StatesâThe rupee depreciation will halt and even reverse when the IndiaUS trade deal materialises This is likely this month A lot however will depend on the details of the tariffs to be imposed on India as part of the dealâ analysts statedMeanwhile the Indian stock market opened on a quiet note on Wednesday with both benchmark indices showing minimal movement in early tradeThe Sensex inched up by just 12 points to 85151 while the Nifty slipped 18 points to 26014At the opening bell shares of HUL Titan Tata Motors PV NTPC BEL Trent Bajaj Finserv Kotak Bank Ultratech Cement Maruti Suzuki LampT Power Grid and ITC were among the top losers in the morning sessionâA real concern now which has contributed to the slow drifting down of the market is the continued depreciation in the rupee and fears of further depreciation since the RBI is not intervening to support the rupeeâ analysts statedâThis concern is forcing the FIIs to sell despite the improving fundamentals of rising corporate earnings and strong rebound in GDP growthâ they added IANS https://dailyworld.in/business/rupee-crashes-to-record-low-beyond-90-per-dollar-651200.html Wed, 03 Dec 2025 10:38:00 +0530 https://dailyworld.in/business/amitabh-kant-warns-india-risks-falling-behind-without-sovereign-ai-infrastructure-651217.html Mumbai Dec 3 India must urgently build sovereign AI capabilities or risk becoming dependent on foreign technology firms that are using Indian data to strengthen their own models former CEO of Niti Ayog Amitabh Kant has said Speaking at the Mint All About AI Tech4Good Awards he said the countryâs technological trajectory will be defined by how quickly it expands its domestic computer infrastructure protects sensitive data and supports startups building indigenous AI systemsâNo other technology in recent times has taken the world by storm like artificial intelligenceâ Kant said He described the moment as a rare convergence of economic opportunity national security concern and demographic potential adding that Indiaâs position as one of the worldâs largest generators of digital data gives it a unique opening to shape AI systems rooted in local needsKant warned that while Indiaâs digital public infrastructure has powered inclusion at scale the countryâs lagging compute capacity threatens to slow its progress He pointed to the recent OpenAI and Nvidia partnership to create 10 gigawatts of GPU capacity equivalent to roughly five million of the latest highperformance processors India by comparison has a base of about 30000 GPUsâBridging this gap requires massive private sector investment and foreign direct investment Today OpenAIs ChatGPT in India reportedly has more monthly active users than in any other country About 33 per cent higher than even the United Statesâ he saidHe argued that sovereign capability is essential for three reasons First selfreliance would encourage a stronger domestic startup ecosystem and attract capital into AI hardware and software Second models attuned to Indiaâs languages cultural context and public sector needs would make AI applicable to every citizen Third a secure domestic infrastructure would be critical for national security particularly as AI systems become deeply embedded in public servicesKant said global firms are offering free or lowcost services and using this data to train closedsource models at scale âOur future may involve having AI services powered by our own data but owned by others and sold back to usâ he saidHe called for a regulatory framework that allows global models to operate in India but requires them to run on infrastructure hosted within the country No user data he said should leave India for applications involving large language models This approach he argued would attract investment into computing capacity and strengthen privacy protectionsHe said Indiaâs emerging AI startups including Sarvam AI Sokhat AI Dhani AI and Gantt AI are beginning to build foundational models but will need access to large pools of highquality data and powerful compute to reach global standards National programmes aimed at attracting top AI researchers improving access to anonymised datasets and expanding public compute marketplaces will be essentialKant said global examples show that countries arriving late to a technological shift can sometimes leapfrog incumbents âHistory shows that in tech sometimes those who come second can build faster learn smarter and avoid earlier pitfallsâ he said noting how Google overtook early search engines and how later entrants transformed hardware markets IANS https://dailyworld.in/business/amitabh-kant-warns-india-risks-falling-behind-without-sovereign-ai-infrastructure-651217.html Wed, 03 Dec 2025 12:31:00 +0530 https://dailyworld.in/business/india-uae-to-make-mobility-easier-for-workers-tourists-and-businesses-651220.html New Delhi Dec 3 India and the UAE are taking major steps to make travel smoother and strengthen legal cooperation marking a new phase in their fastgrowing strategic partnership Both countries are focusing on easier visas faster extradition and closer coordination between their legal systemsThe aim is to make movement simpler for workers tourists and businesses while also tightening the fight against financial crime and fugitives who operate between the two nationsAt the sixth meeting of the IndiaâUAE Joint Committee on Consular Affairs held in Abu Dhabi last month officials from both sides agreed to work on four key areas according to India Narrative reportThese include liberalising visa rules improving the flow of information ensuring better consular access and speeding up cooperation on extradition and mutual legal assistanceWhile no big new agreement has been announced yet the discussions clearly show that both governments want more predictable longterm cooperation rather than handling issues case by caseIndia has already expanded visaonarrival facilities for UAE nationals increasing the number of airports offering this service from six to nine by adding Kochi Calicut and AhmedabadThese locations especially benefit travellers connected to Gulf business hubs and states with large Indian communitiesOn the other hand the UAE has broadened its own visaonarrival scheme for more categories of Indian travellers particularly professionals with foreign residence permits making shortnotice travel much easierThe push for easier visas is driven by strong economic and political reasons Bilateral trade between India and the UAE has already crossed about 100 billion dollars in 2024â25 under the CEPA trade pactFaster business travel smoother project work and predictable mobility for professionals are essential for fully using the potential of the agreementWith over 42 million Indians living in the UAE mobility is also a major welfare issue for India and a labourmarket factor for the UAESimplified visas for Emirati citizens entering India also send a message that travel and investment flow both waysOn the security side India and the UAE already have an extradition treaty and cooperation has steadily expandedThe recent talks focused on speeding up processes rather than rewriting laws In practical terms this means quicker examination of extradition requests better alignment of documents and stronger political will to avoid delaysFaster action from the UAE can significantly impact Indiaâs efforts to bring back economic offenders who once considered Dubai a safe escape routeBoth countries are also working to strengthen mutual legal assistance which is crucial for tackling cybercrime financial crime terror financing and misuse of corporate structuresAs India and the UAE deepen economic engagement through food corridors logistics projects and major investments faster sharing of financial records ownership details and digital evidence becomes essentialThis cooperation can prevent criminals from exploiting differences in regulations and operating across borders unnoticed IANS https://dailyworld.in/business/india-uae-to-make-mobility-easier-for-workers-tourists-and-businesses-651220.html Wed, 03 Dec 2025 12:33:00 +0530 https://dailyworld.in/business/india-must-catch-up-and-leapfrog-in-ai-abhishek-singh-of-meity-amp-india-ai-mission-651226.html Mumbai Dec 3 India is preparing to pull AI into the core of its digital public infrastructure a shift that Abhishek Singh Additional Secretary at the Ministry of Electronics and Information Technology and CEO of the India AI Mission said is becoming urgent as the countryâs AI usage rises faster than its capacity to build domestic systems The move comes amid growing concerns that foreign AI platforms are training on Indian data at a massive scale potentially shaping essential services that millions of citizens will rely onSpeaking at the Mint All About AI Tech4Good Awards Singh told industry leaders and policymakers that Indiaâs digital public infrastructure has already reshaped governance but now needs an AI layer to reach the last mileâWe have shown what technology can do for good governanceâ he said adding âThe next step is to ensure AI makes these services accessible in every Indian languageâ The governmentâs push is anchored in a voicedriven approachSingh said citizens should be able to access public services through simple spoken queries rather than navigating apps or websites Farmers could receive crop advice through a tollfree line in their mother tongue Parents in rural districts could obtain basic medical information without traveling to a clinic Students without qualified teachers could supplement their learning with adaptive AI tutorsSingh said such services require models built on Indian data and trained to understand Indiaâs linguistic and cultural context âHuman oversight is essentialâ he said âModels can hallucinate or mislead We must build responsibly and we must build for IndiaâA central concern is Indiaâs compute shortage While global companies move toward multigigawatt GPU clusters India has access to a fraction of that powerSingh said recent initiatives have made tens of thousands of GPUs available to domestic researchers at subsidised prices but attracting largescale private and foreign investment remains critical India is funding Indian foundation model builders and expanding AI Kosh a national repository of datasets and models The government is also setting up an AI Safety Institute to test systems for bias privacy issues and reliability reflecting a growing emphasis on responsible AISingh warned that the countryâs workforce will face new pressures as generative AI accelerates automation Indiaâs software and IT services industry long a global supplier of cognitive work must upskill quickly and develop indigenous code generation tools he said to avoid relying entirely on foreign systems India plans to convene an AI Impact Summit in February expected to draw heads of state global AI executives and researchers The meeting will examine how AI will affect emerging market jobs climate resilience and productivityFor India Singh said AI represents both an opportunity and a strategic test âWe need to catch up and we need to leapfrogâ he said adding âAnd we need to ensure that the benefits reach everyoneâ IANS https://dailyworld.in/business/india-must-catch-up-and-leapfrog-in-ai-abhishek-singh-of-meity-amp-india-ai-mission-651226.html Wed, 03 Dec 2025 13:01:00 +0530 https://dailyworld.in/business/indias-manufacturing-leasing-to-take-46-pc-share-of-industrial-logistics-market-by-2027-651230.html New Delhi Dec 3 Indiaâs manufacturing leasing activity is projected to reach 337 million square feet by 2027 in the top eight cities representing nearly half of Indiaâs total industrial and warehousing absorption a report showed on Wednesday The domestic manufacturing sector is fundamentally reshaping the industrial real estate landscape through phenomenal leasing activity and evolving space requirementsManufacturing leasing activity has demonstrated exceptional growth reaching 221 million sq ft in 2024 according to a JLL reportManufacturing space demand is forecasted to reach 34 million sq ft by 2027 representing 46 per cent of Indiaâs total industrial and warehousing absorption a clear indication of the sectorâs dominant market positionGrade A property demand has experienced substantial growth rising from 70 per cent in 2019 to 82 per cent in 2024 and reaching 87 per cent through Q3 2025 in the top eight citiesAccording to the report this upward trajectory reflects increasing requirements for customised highend specifications particularly driven by the auto and ancillaries electronics and white goods and engineering sectorsâThe sevenfold increase in manufacturing leasing activity between 2020 and 2024 indicates a growing shift of manufacturersâ realestate strategy and decisionmaking in choosing leased land and buildingâ said Yogesh Shevade Head of Industrial and Logistics India JLLGrade A facilities are preferred by most manufacturers given their ability to handle automation better infrastructure and a sustainable ecosystem he mentionedMoreover the demand surge is characterised by enhanced building specifications stricter hygiene standards demand for sustainable and green buildings and comprehensive safety compliance requirements that distinguish modern manufacturing facilities from traditional logistics operationsAs of Q3 2025 Pune and Chennai emerged as the dominant markets among Indiaâs eight tier I cities for manufacturing leasing activity collectively accounting for 75 per cent of total demand for manufacturing leasing spacesOther cities like Bengaluru Mumbai and DelhiNCR are also experiencing rapid growth further accelerating the overall leasing momentum said the report IANS https://dailyworld.in/business/indias-manufacturing-leasing-to-take-46-pc-share-of-industrial-logistics-market-by-2027-651230.html Wed, 03 Dec 2025 13:04:00 +0530 https://dailyworld.in/business/govt-removes-mandatory-pre-installation-of-sanchar-saathi-app-as-adoption-surges-651240.html New Delhi Dec 3 IANS The government on Wednesday said it has withdrawn the mandate requiring mobile manufacturers to preinstall the Sanchar Saathi app on all smartphones citing a sharp rise in voluntary user registrations and growing public trust in the platformnbspThe Ministry of Communications said the app designed to protect citizens from cyber fraud and telecomrelated crimes has been gaining strong acceptance making a compulsory installation rule unnecessarynbspSo far 14 crore users have downloaded Sanchar Saathi helping report nearly 2000 fraud incidents every day the ministry saidIn the last 24 hours alone six lakh citizens registered to download the app marking a tenfold jump in its uptake it addednbspThe government said the mandate was originally intended to ensure that lessaware citizens also had access to cybersecurity toolsnbspBut with the recent spike in voluntary adoption the rule has now been rolled backnbspGiven Sanchar Saathis increasing acceptance the Government has decided not to make the preinstallation mandatory for mobile manufacturers the Centre saidThe ministry emphasised that the app is secure carries no surveillance feature and serves only one purpose protecting users from fraudsters and helping them report cyber wrongdoingnbspIt added that people are free to delete the app whenever they want and that it supports jan bhagidari by enabling citizens to participate in fighting cybercrimenbspThe announcement came hours after Communications Minister Jyotiraditya Scindia strongly refuted snooping allegations in ParliamentnbspAddressing the Lok Sabha during Question Hour he said the app cannot monitor users and remains inactive unless someone chooses to registernbspSnooping is neither possible nor will it happen with the Sanchar Saathi safety app Scindia said adding in Hindi Sanchar Saathi app se na snooping sambhav hai na snooping hoganbspHe underlined that the app is meant only to help people protect themselves from digital threats such as fake mobile connections fraud calls and lost or stolen phones https://dailyworld.in/business/govt-removes-mandatory-pre-installation-of-sanchar-saathi-app-as-adoption-surges-651240.html Wed, 03 Dec 2025 16:07:00 +0530 https://dailyworld.in/business/indias-defence-tech-market-expected-to-reach-19-billion-by-2030-651014.html New Delhi Dec 2 Indiaâs defence technology market valued at 76 billion in 2025 is projected to reach 19 billion by 2030 growing at close to a 20 per cent compound annual growth rate CAGR a report said on Tuesday Technologyâled systems are expected to comprise almost 50 per cent of Indias overall defence market by 2030 marking a decisive shift from platformdriven development to advanced engineering and digital capability building the report from staffing and workforce solutions provider Quess Corp saidMomentum is strong across computer vision autonomous systems counterâdrone technologies underwater robotics advanced sensors directedâenergy research and softwareâled mission systems fuelled by over 1000 defenceâtech startups and 194 firms linked through innovation programmes the report saidThe report also flagged critical shortages in specialised engineering roles including radar engineering radio frequency engineering avionics propulsion optical engineering quantum communication systems systems integration test and validation and certificationThese roles account for less than 5 per cent of the current defence workforce and could bottleneck aircraft development unmanned systems naval projects and secure communication networksAs much as 71 per cent of total startup funding in defencetech startups is directed toward counterdrone solutions the fastestgrowing segment in Indiaâs defence innovation ecosystem The counterdrone market is projected to grow at nearly 17 per cent CAGR reaching 14 billion by 2029The next five years are decisive for India to become a global systems leader scaling defenceready AI and frontier engineering talent by 5â6 times is not just an industry need it is a national imperativeâ said Kapil Joshi CEO â IT Staffing Quess CorpCertification safety engineering testing and validation roles are expected to see the sharpest rise in demand Without targeted skilling 40â45 per cent of these roles may remain unfilled by 2030 limiting deployment readiness slowing production cycles and affecting export competitiveness the report added IANS https://dailyworld.in/business/indias-defence-tech-market-expected-to-reach-19-billion-by-2030-651014.html Tue, 02 Dec 2025 14:12:00 +0530 https://dailyworld.in/business/sanchar-saathi-app-not-mandatory-can-bedeletedj-scindiaamidprivacyrow-651015.html New Delhi Dec 2 Sanchar Saathi mobile app is not mandatory and can be deleted said Union Minister for Communications Jyotiraditya Scindia on Tuesday amid the privacy row Speaking to the media Scindia noted that keeping the app is up to individuals and it can be deleted from smartphonesIf you dont want Sanchar Saathi you can delete it It is optional It is our duty to introduce this app to everyone Keeping it in their devices or not is up to the user the Union Minister saidHe also added that the platform does not enable snooping or call monitoringThe clarification comes as the Centreâs move to preinstall the Sanchar Saathi mobile application on all new mobile handsets manufactured or imported for use in India was seen as a breach of privacyCriticising the move Congress MP Priyanka Gandhi Vadra called it a violation of privacy and a step toward authoritarian governanceThe government maintained that it aims to safeguard the citizens from buying nongenuine itemsAs per the guidelines issued on November 28 mobile manufacturers and importers have to ensure that the preinstalled Sanchar Saathi application is readily visible and accessible to the end users at the time of first use or device setup and that its functionalities are not disabled or restrictedAdditionally all such devices that have already been manufactured and are in sales channels in India the manufacturer and importers of mobile handsets shall endeavour to push the app through software updatesThe companies have to complete the implementation in 90 days and submit a report in 120 daysDoT is undertaking the Sanchar Saathi initiative for curbing the misuse of telecom resources for cyber fraud and ensuring telecom cybersecurityIn a separate statement the DoT said that it has observed that some of the appbased communication services that are utilising Indian mobile numbers for identification of their customers or users or for provisioning or delivery of services allow users to consume their services without the availability of the underlying Subscriber Identity Module SIM within the device in which the appbased services are runningThis feature is being misused to commit cyberfrauds especially from operating outside the countryThe issue of SIM binding in messaging apps and its misuse has been raised by multiple government bodiesagencies and an interministerial group IANS https://dailyworld.in/business/sanchar-saathi-app-not-mandatory-can-bedeletedj-scindiaamidprivacyrow-651015.html Tue, 02 Dec 2025 14:13:00 +0530 https://dailyworld.in/business/s-korean-govt-says-coupangs-electronic-signature-key-exploited-in-data-breach-650980.html Seoul Dec 2 A massive data breach attack against ecommerce giant Coupang Inc that has affected over 30 million customers data lasted from June to November and involved the exploitation of the companys electronic signature key according to officials on Tuesday As we review all log data from July last year to November this year we have confirmed that private data from more than 30 million accounts was leaked Second Vice Minister Ryu Jemyung said during a parliamentary session The attack was carried out from June 24 to November 8 reports Yonhap news agencyHe said the attacker used Coupangs electronic signature key which is required to access the companys serversRyu said a police investigation is needed to identify the suspect referring to reports of a purported former Coupang employee having emailed the company claiming to have stolen more than 30 million items of personal informationLast week the USlisted ecommerce giant said personal information of 337 million customers had been compromised indicating that personal information including names phone numbers email addresses and delivery details for nearly all Coupang members was affectedCoupang which provides overnight delivery of fresh food and daily necessities is one of the most widely used shopping platforms in South Korea with 34 million monthly active users in November up 068 percent from a month earlierMeanwhile South Korean shares extended their gains late Tuesday morning buoyed by a strong performance in major chip stocksThe benchmark Korea Composite Stock Price Index KOSPI advanced 6379 points or 163 percent to 398416 as of 1120 amMostlarge cap shares traded higher Chip giant Samsung Electronics increased 248 percent and rival SK hynix gained 372 percentCarmakers also gained momentum with No 1 automaker Hyundai Motor jumping 452 percent and Kia adding 338 percentIn contrast defense giant Hanwha Aerospace decreased 135 percent and leading battery maker LG Energy Solution was down 036 percentThe local currency was trading at 14695 won against the greenback as of 1120 am up 04 won from the previous sessions close IANS https://dailyworld.in/business/s-korean-govt-says-coupangs-electronic-signature-key-exploited-in-data-breach-650980.html Tue, 02 Dec 2025 10:48:00 +0530 https://dailyworld.in/business/sensex-nifty-recover-from-early-fall-as-profit-booking-keeps-markets-volatile-650981.html Mumbai Dec 2 Indian stock markets opened with a sharp gapdown on Tuesday but soon recovered some losses as investors continued to book profits after the recent rally The Sensex was trading at around 85508 down 134 points or 016 per cent while the Nifty slipped 31 points or 012 per cent to 26145The Niftys positional trend remains bullish with strong support at the 2600026050 zone On the higher side 26300 could offer resistance on a closing basis market watchers addedHeavyweights such as HDFC Bank ICICI Bank Ultratech Cement Axis Bank Bajaj Finserv Tata Steel Tata Motors PV Titan Company and Power Grid dragged the indices lowerEternal also remained under pressure during the early tradeHowever selective buying in stocks like Asian Paints Infosys Bharti Airtel Bajaj Finance SBI Maruti Suzuki NTPC HUL and LampT helped the Sensex limit its losses and attempt a mild recoveryIn the broader market space the Nifty MidCap index edged up 027 per cent indicating some buying interest in midsized companies On the other hand the Nifty SmallCap index slipped 012 per centSectorwise financial stocks were among the worst performers with the Nifty Financial Services index falling 07 per cent and the Nifty Bank index dropping 04 per centMeanwhile the Nifty PSU Bank index gained 09 per cent emerging as the top performer followed by the Nifty Auto index which rose 04 per centAnalysts said that markets remained volatile as traders continued to take profits amid mixed global cuesInvestors can use the current period of consolidation to slowly accumulate fairlyvalued largecaps and growthoriented midcaps which will lead the next leg of rally in the market analysts statedThe Smallcap segment continues to be overvalued The Bank Nifty despite the recent run up have the potential to impart resilience to the market since there is valuation comfort in this segment The pick up in credit growth is another positive for the segment IANS https://dailyworld.in/business/sensex-nifty-recover-from-early-fall-as-profit-booking-keeps-markets-volatile-650981.html Tue, 02 Dec 2025 10:51:00 +0530 https://dailyworld.in/business/tesla-sells-157-units-so-far-in-india-650986.html New Delhi Dec 2 Teslaâs muchanticipated entry into Indiaâs fastgrowing luxury electric vehicle market has begun on a slower note with the company selling 157 units since it started deliveries in September According to the governmentâs Vahan portal Tesla delivered just 48 cars in November lagging behind established luxury players like BMW and MercedesBenzIn comparison BMW India sold 267 EVs in November alone highlighting the stiff competition Tesla faces in the premium segmentThe USbased automaker launched its Model Y electric SUV as its first offering in India marking the beginning of its operations in the countryDespite the initial excitement the sales figures suggest that Tesla still has some distance to cover before it can challenge the dominance of longestablished luxury brandsEven as sales pick up slowly Tesla continues to expand its footprint in India Last week the company announced the launch of its first allinone Tesla Centre in GurugramThe new facility at Orchid Business Park in Sector 48 is designed to combine retail aftersales service deliveries and charging infrastructure under one roof offering customers a complete ownership experienceSharad Agarwal General Manager of Tesla India said the Gurugram centre is a major step in supporting the growing Tesla community in northern IndiaHe added that the company aims to make electric mobility more convenient by building infrastructure around peopleâs daily lives where they work dine and travelAgarwal said Teslaâs mission is to accelerate the shift to sustainable energy By strengthening charging infrastructure and using a direct business model the company hopes to boost customer confidence and drive greater adoption of EVs in IndiaVisitors to the new Gurugram centre can explore the latest Tesla technologies take test drives of the Model Y and access the advanced V4 Superchargers installed onsiteTeslaâs humanoid robot Optimus Gen 2 is also on display showcasing the companyâs innovations in AI and robotics IANS https://dailyworld.in/business/tesla-sells-157-units-so-far-in-india-650986.html Tue, 02 Dec 2025 11:09:00 +0530 https://dailyworld.in/business/tesla-sells-48-cars-in-november-157-units-so-far-in-india-650987.html New Delhi Dec 2 Teslaâs muchanticipated entry into Indiaâs fastgrowing luxury electric vehicle market has begun on a slower note with the company selling 157 units since it started deliveries in September According to the governmentâs Vahan portal Tesla delivered just 48 cars in November lagging behind established luxury players like BMW and MercedesBenzIn comparison BMW India sold 267 EVs in November alone highlighting the stiff competition Tesla faces in the premium segmentThe USbased automaker launched its Model Y electric SUV as its first offering in India marking the beginning of its operations in the countryDespite the initial excitement the sales figures suggest that Tesla still has some distance to cover before it can challenge the dominance of longestablished luxury brandsEven as sales pick up slowly Tesla continues to expand its footprint in India Last week the company announced the launch of its first allinone Tesla Centre in GurugramThe new facility at Orchid Business Park in Sector 48 is designed to combine retail aftersales service deliveries and charging infrastructure under one roof offering customers a complete ownership experienceSharad Agarwal General Manager of Tesla India said the Gurugram centre is a major step in supporting the growing Tesla community in northern IndiaHe added that the company aims to make electric mobility more convenient by building infrastructure around peopleâs daily lives where they work dine and travelAgarwal said Teslaâs mission is to accelerate the shift to sustainable energy By strengthening charging infrastructure and using a direct business model the company hopes to boost customer confidence and drive greater adoption of EVs in IndiaVisitors to the new Gurugram centre can explore the latest Tesla technologies take test drives of the Model Y and access the advanced V4 Superchargers installed onsiteTeslaâs humanoid robot Optimus Gen 2 is also on display showcasing the companyâs innovations in AI and robotics IANS https://dailyworld.in/business/tesla-sells-48-cars-in-november-157-units-so-far-in-india-650987.html Tue, 02 Dec 2025 11:11:00 +0530 https://dailyworld.in/business/india-can-help-tackledigital-inequality-build-an-inclusive-ai-future-for-world-undp-651000.html New Delhi Dec 2 India is wellpositioned to tackle digital inequality and shape an inclusive transition in Artificial Intelligence AI for the world said a new United Nations Development Programme UNDP report released on Tuesday While AI is advancing at a historic pace strong digital ecosystems in some countries and limited connectivity skills and infrastructure in others are widening gapsThe report focussed on the Asia Pacific region warned that without deliberate action AI could widen gaps in income opportunity and governance reversing years of progress in reducing global inequalityHowever it showed that Indiaâs digital public infrastructure expanding AI research ecosystem and large technology workforce provide a strong foundation to scale AI for public valueâIndiaâs digital strengths give it a head start in building an AI future that works for everyone AI is already strengthening public health improving climate resilience and supporting better services The real test is ensuring these gains reach every communityâ said Dr Angela Lusigi Resident Representative UNDP IndiaâThe choices we make now will determine whether AI narrows gaps or widens them India can lead by ensuring its benefits reach rural communities women and young people not only those already connectedâ she addedThe report highlighted India as a country that can demonstrate how AI can be scaled safely and inclusivelyIndia is already applying AI to strengthen major public systems Aadhaar the worldâs largest biometric ID system with over 13 billion residents is the biggest example It has been increasingly paired with AI to reduce fraud improve targeting and ensure benefits reach the right householdsThe countrys health sector is also seeing increasing AI adaptation especially in chest Xray interpretation in tuberculosis screening and to tackle climate change to predict floods and other weather conditionsAI is also being applied in Indias agriculture sector to help authorities identify climatevulnerable districts and guide climatesmart agriculture as well as strengthen biodiversity with AIenabled species identification and realtime alertsAIâs longterm impact will depend on choices made now especially investments in digital governance inclusion and safeguards the report saidIt called for India to continue leading on peoplefirst AI focusing on transparency equitable access and participation of marginalised communities in designing AI systemsâWith the right policies India can help steer the region away from a new era of inequality and toward an inclusive AI future that advances the Sustainable Development Goalsâ it added IANS https://dailyworld.in/business/india-can-help-tackledigital-inequality-build-an-inclusive-ai-future-for-world-undp-651000.html Tue, 02 Dec 2025 12:11:00 +0530 https://dailyworld.in/business/economic-governance-must-rest-on-fairness-and-responsibility-fm-sitharaman-651001.html New Delhi Dec 2 Finance Minister Nirmala Sitharaman on Tuesday said that Indiaâs approach to tax transparency is rooted in a larger belief that economic governance must be fair and responsible Speaking at the 18th Global Forum Plenary Meeting here FM Sitharaman said transparency in tax matters is not just an administrative reform but a key pillar of building a stronger and more equitable societyFM Sitharaman explained that when people and businesses pay their fair share of taxes and when evasion is strictly checked countries become more stable and fairâIndiaâs laws against illicit financial flows and undisclosed foreign assets reflect this commitment to fairnessâ she saidâThe countryâs participation in global standards like the Exchange of Information on Request and the Automatic Exchange of Information also shows its focus on transparencyâ the Finance Minister addedFM Sitharaman said transparency has a direct link to development as public infrastructure healthcare education and welfare programmes depend heavily on domestic resourcesâWhen wealth goes untaxed it widens both revenue and development gaps especially in developing nationsâ FM Sitharaman mentionedShe added that every rupee or dollar mobilised through transparent systems helps improve livesThe Finance Minister highlighted that transparency should be seen as a foundation for sustainable development and fiscal strength not merely as a compliance requirementFM Sitharaman noted that Indiaâs experience over the past decade shows improved voluntary compliance with citizens more willing to follow rules when they trust that the system rewards honesty and firmly discourages evasionâThis rise in tax morale is the result of simplification clarity and consistent efforts to build trust not just enforcement Fairness and predictability encourage public participation far more effectively than forceâ the Finance Minister statedFM Sitharaman also spoke about Indiaâs efforts to integrate exchanged information with broader analysis of compliance and riskâTechnology and artificial intelligence offer powerful tools to process information more efficiently but stressed that judgement responsibility and respect for procedure must guide their useâ Finance Minister Sitharaman said IANS https://dailyworld.in/business/economic-governance-must-rest-on-fairness-and-responsibility-fm-sitharaman-651001.html Tue, 02 Dec 2025 12:13:00 +0530 https://dailyworld.in/business/indias-fy26-inflation-likely-to-average-below-2-pc-gdp-growth-at-77-pc-651002.html New Delhi Dec 2 Indias inflation is expected to average just below 2 per cent in FY26 and to remain below the Reserve Bank of Indiaâs 4 per cent target in FY27 a report said on Tuesday As the October inflation came in at 025 per cent the report from HSBC Global Investment Research said that only oneâthird of the impact of GST tax cuts has shown up in inflation so far and there is room for further decline in inflationWe dont think its only about shortterm GST tax cuts and low food prices We believe the fall in core inflation in this cycle is more longlasting than past episodes and that this will influence monetary policy the report saidThe research firm forecasted official GDP growth for FY26 at 77 per cent up from 69 per cent earlier with actual growth on the ground closer to 67 per centGrowth is likely to remain strong until December but could soften in the March quarter as the positive impact of GST cuts soften fiscal spending tightens to meet deficit targets and exports start to slow following the 50 per cent tariff the report saidThe Indian economy seems to have transitioned from hints of stagflation just a year ago to a sweet spot now The strong September quarter GDP print of 82 per cent benefitted from both a cyclical boost as well as statistical anomalies said Pranjul Bhandari Chief India EconomistStrategist ASEAN EconomistOn the cyclical front strong rains monetary easing fiscal spending and GST cuts all came together nicely she addedWe estimate that two deflator issues affecting manufacturing and services sectors respectively may have understated the deflator by 12ppt and overstated real GDP growth the report saidMeanwile last week Central governments Chief Economic Advisor V Anantha Nageswaran said that Indiaâs GDP growth for the financial year 202526 is likely to be 7 per cent or more as official figures showed that the countryâs Q2 growth surged to 82 per cent after recording a robust 78 per cent rise in Q1 IANS https://dailyworld.in/business/indias-fy26-inflation-likely-to-average-below-2-pc-gdp-growth-at-77-pc-651002.html Tue, 02 Dec 2025 12:30:00 +0530 https://dailyworld.in/business/7-top-indian-firms-add-rs-96-200-crore-in-market-value-650947.html Mumbai Nov 30 The combined market value of seven out of the ten most highly valued Indian companies rose by Rs 9620095 crore last week helped by an overall positive mood in the equity markets The broader indices also supported the gains with the BSE Sensex climbing 47475 points or 055 per cent during the week and touching a new alltime high of 8605586 on ThursdayAmong the top gainers Bajaj Finance added Rs 2034752 crore to its valuation taking its market capitalisation to Rs 64567611 croreHDFC Bank reported an increase of Rs 1361111 crore pushing its valuation to Rs 154874367 croreICICI Bank also saw a strong rise of Rs 1359962 crore lifting its market worth to Rs 99272597 croreHindustan Unilever added Rs 767141 crore during the week taking its valuation to Rs 57964416 croreState Bank of India posted gains of Rs 641528 crore to reach Rs 90418515 crore while Infosys added Rs 627315 crore with its valuation now at Rs 64796198 croreOn the losing side Bharti Airtel recorded the sharpest decline slipping by Rs 3523901 crore in market valueLICâs valuation dropped by Rs 499675 crore and TCS saw an erosion of Rs 376281 crore during the weekIn the list of the ten most valued companies HDFC Bank remained in second place overall followed by Bharti Airtel TCS ICICI Bank SBI Infosys Bajaj Finance Hindustan Unilever and LICMeanwhile the Nifty index displayed strong bullish momentum this week rising 134 points to register a new alltime high of 26310âOn the weekly chart the index has successfully retested its cupandhandle pattern and extended its upward moveâ experts saidAdditionally Nifty has formed a bullish hammer near its lifetime high suggesting sustained buying interest and the potential for further upsideâOn the daily timeframe Nifty posted a decisive close above the crucial 26200 resistance level ending the session at 26202 and demonstrating strong followthrough strengthâ market watchers mentioned IANS https://dailyworld.in/business/7-top-indian-firms-add-rs-96-200-crore-in-market-value-650947.html Mon, 01 Dec 2025 17:51:00 +0530 https://dailyworld.in/business/nse-bse-fine-mtnl-rs-542-lakh-for-not-meeting-independent-director-norms-650951.html Mumbai Nov 30 Stateowned telecom company MTNL has been fined a total of Rs 542 lakh by stock exchanges NSE and BSE for not meeting the rules related to the composition of its board The exchanges said MTNL has failed to comply with Regulation 171 of SEBIâs Listing Obligations and Disclosure Requirements LODR rules which mandate the presence of a required number of independent directors on the companyâs boardIn a regulatory filing MTNL said it is required to appoint four more independent directors to meet the normsâIn compliance of Regulation 30 of SEBI LODR Regulations 2015 and in terms of SubPara 20 of Para A of Part A of Schedule III this is to inform you that MTNL has received Letter dated 28112025 from BSE regarding NonCompliance with the provisions of Regulation 171 of SEBI LODR Regulations 2015 respectively ie Noncompliance with the requirements pertaining to the Composition of the Boardâ the firm said in its exchange filingHowever it has not been able to do so because all board appointments for the company are made by the Department of Telecommunications DoT as MTNL is a public sector undertakingAccording to the filing the fine includes a basic penalty of Rs 46 lakh and an additional GST of 18 per cent which amounts to Rs 82800âIn this regard both NSE and BSE has imposed fines on MTNL amounting to Rs 542800 inclusive of Basic fines amounting to Rs 460000 and GST 18 per cent amounting to Rs 82800 respectivelyâ it addedMTNL also informed that the DoT had appointed two independent directors including one woman independent director on April 15 2025The company added that it has already requested the government to appoint the remaining four independent directors as requiredMTNL further said it is asking NSE and BSE to waive the fines imposed on it IANS https://dailyworld.in/business/nse-bse-fine-mtnl-rs-542-lakh-for-not-meeting-independent-director-norms-650951.html Mon, 01 Dec 2025 17:56:00 +0530 https://dailyworld.in/business/s-koreas-firm-webzen-slapped-158-million-won-fine-for-misleading-probability-of-in-game-items-650955.html Seoul Nov 30 The antitrust watchdog said on Sunday it has imposed a fine of 158 million won 107000 on game publisher Webzen Inc for misleading players about the probability of obtaining ingame items in its popular roleplaying game MU Archangel Webzen failed to properly disclose the actual probabilities of acquiring certain random items from ingame purchase from June 2020 to March 2024 generating an additional 67 billion won in revenue during the period according to the Fair Trade Commission FTC reports Yonhap news agencyThe FTC ordered the company to halt the illegal practice and submit measures to prevent recurrenceAt the same time the FTC also fined four other game publishers Gravity Co Wemade Co Krafton Inc and Com2us Corp 25 million won each for similar violationsMeanwhile net foreign selling in South Koreas main stock market reached a fresh monthly high in November while individual investors remained net buyers the bourse operator said on SundayForeign investors sold a net 144 trillion won 98 billion worth of shares on the benchmark Korea Composite Stock Price Index KOSPI throughout November according to the Korea ExchangeThe figure marked the largest monthly net selling by offshore investors surpassing the previous record of 125 trillion won set in March 2020 in the early period of the COVID19 pandemicForeigners purchased a net 74 trillion won and 53 trillion won worth of local shares in September and October respectively but turned to net sellers in NovemberFor the JanuaryNovember period foreign net selling totaled 88 trillion wonInsiders said foreigners appetite for risky assets was dampened by fading expectations for a US rate cut at the Federal Reserves December meeting and by escalating uncertainties surrounding artificial intelligence AI technologiesForeign investors offloaded a net 87 trillion won worth of SK hynix shares and 22 trillion won worth of Samsung Electronics stocks in November The two companies accounted for 76 percent of foreign net selling for the month IANS https://dailyworld.in/business/s-koreas-firm-webzen-slapped-158-million-won-fine-for-misleading-probability-of-in-game-items-650955.html Mon, 01 Dec 2025 18:06:00 +0530 https://dailyworld.in/business/rbi-policy-auto-sales-and-us-data-likely-to-drive-stock-market-next-week-650837.html Mumbai Nov 30 The Indian stock market is preparing for an important week ahead as it enters the final month of 2025 with investors closely watching the Reserve Bank of Indiaâs monetary policy meeting monthly auto sales data and key US economic indicators Strong domestic macroeconomic fundamentals and steady global cues are expected to support the market but uncertainty around interest rates and global inflation trends may keep investors cautiousOn Friday November 28 benchmark indices ended almost flat as traders booked profits and waited for the release of Indiaâs Q2 GDP numbersThe Sensex slipped 14 points to close at 8570667 while the Nifty fell 13 points to end at 2620295âThe index continues to make fresh highs and the bias remains positive The next upside levels are placed at 26500 followed by 27000â experts saidâOn the downside the 20DEMA around 25900 serves as initial support with the next key level at 25700â they addedThe biggest event for the markets next week will be the RBI Monetary Policy Committee MPC meeting scheduled from December 3 to 5Investors will be looking for any signals on inflation liquidity conditions and growth outlook as the year draws to a closeAnother important factor will be the announcement of November automobile sales on December 1Strong sales across passenger vehicles twowheelers and commercial vehicles could boost confidence in a sustained demand recoveryGlobal cues will also play a major role It is a full trading week on Wall Street although the flow of US economic data will be lighter as federal agencies resume reportingMarkets will finally receive the delayed September reading of the Federal Reserveâs preferred inflation gauge the PCE and Core PCE index on FridayBefore that the ADP private payrolls report for November will be released on Wednesday and investors will track whether it matches the strong September jobs dataMeanwhile Indiaâs trade negotiations with the United States continue to draw attention The government expects to finalise a trade deal by yearend as most disagreements have been resolvedTalks gained momentum after US President Donald Trump acknowledged progress in discussions with Prime Minister Narendra Modi IANS https://dailyworld.in/business/rbi-policy-auto-sales-and-us-data-likely-to-drive-stock-market-next-week-650837.html Sun, 30 Nov 2025 13:03:00 +0530 https://dailyworld.in/business/india-to-build-inclusive-indigenous-electronic-toy-industry-ecosystem-govt-650842.html New Delhi Nov 30 India is a growing market of electronic toys and to build the Indian toys industry ecosystem electronics and IT can play a crucial role a senior government official has said Amitesh Kumar Sinha Additional Secretary MeitY said that he is very happy that the building blocks for it are getting created and the next generation of engineers are working towards itIndiaâs toy industry once heavily dependent on imports is now manufacturing domestically and exporting to 153 countriesTo give the industry a boost MeitY CDAC Indian Toy Industries and LEGO Group celebrated the Convocation Ceremony of the 2nd batch of engineering graduates who have spent a year training under the project âDevelopment of Electronics and ITbased Control and Automation Solutions for Consumer Electronic Goods Toy IndustryâThe project is a tailormade initiative of RampD group of the Ministry to foster the growth of the Indian electronic toys industry by developing prototypes and equipping young engineers including from underrepresented communities with the skills needed to design such toysSinha who inaugurated the âElectronic Toys Labâ setup at the CDAC Noida said this programme can be formalised in a bigger way to cater more students and more impact in overall promotion of the Toy industriesâThe CoE setup at CDACNoida for eToys will onboard NIELIT and MSH and other institutes with electronic Toys in focus It will help in creating the entrepreneurshipstartupâ Sinha addedUnder the MeitY initiative young engineers were selected from across India from SCST and NER background and engaged in RampD activities for a year gaining handson experience in designing and developing electronic toys for first six months working and learning in the etoys lab at CDACNoida followed by a sixmonth training in the industry to create toys prototype based on industry needsThe participants were provided with a monthly stipend of Rs 25000 for one year IANS https://dailyworld.in/business/india-to-build-inclusive-indigenous-electronic-toy-industry-ecosystem-govt-650842.html Sun, 30 Nov 2025 13:12:00 +0530 https://dailyworld.in/business/mumbai-property-registrations-mark-best-nov-since-2013-revenue-up-12-pc-650843.html Mumbai Nov 30 The real estate market in Mumbai recorded its strongest November since 2013 supported by rising demand for residential properties and steady market confidence a new report said on Sunday According to Knight Frank India the city covering areas under the BMC registered 12219 properties in November 2025 marking a 20 per cent increase compared to the same month last yearStamp duty collections also rose 12 per cent yearonyear to Rs 1038 crore reflecting sustained buying momentumOn a monthonmonth basis registrations increased by 5 per cent while stamp duty collections remained stableFrom January to November 2025 Mumbai recorded 135807 property registrations contributing more than Rs 12224 crore to the state governmentDuring this period registrations grew 5 per cent yearonyear and revenue increased 11 per cent showing the cityâs solid real estate activity throughout the yearKnight Frank India Chairman and Managing Director Shishir Baijal said that Mumbaiâs residential market has maintained its strong momentumHe noted that the 20 per cent annual rise in registrations and 12 per cent growth in revenue reflect steady demand across segments and a clear shift toward highervalue homesWith over 135 lakh registrations in eleven months Baijal said the market now operates at a structurally higher level with consistent monthly activityHe added that the stability in both sales volumes and revenue indicates a mature demand cycle and continued buyer confidenceDemand for higherpriced homes continued to rise in November Properties priced above Rs 5 crore made up 7 per cent of total registrations compared with 5 per cent a year agoMeanwhile the share of homes priced below Rs 1 crore declined due to affordability pressures The midrange segment of Rs 2â5 crore held steady while homes priced between Rs 1 crore and Rs 2 crore saw their share increase from 31 per cent in 2024 to 33 per cent in 2025 IANS https://dailyworld.in/business/mumbai-property-registrations-mark-best-nov-since-2013-revenue-up-12-pc-650843.html Sun, 30 Nov 2025 13:14:00 +0530 https://dailyworld.in/business/elon-musk-features-in-new-teaser-of-nikhil-kamaths-upcoming-podcast-episode-650856.html New Delhi Nov 30 IANS A new teaser of Elon Musks appearance on Zerodha cofounder Nikhil Kamaths WTF is podcast has sparked fresh excitement online with Kamath releasing a second blackandwhite clip that blends humour with deeper reflections from the Tesla and SpaceX chiefnbspThe video posted on X opens with a light moment as Kamath comments on Musks physique saying he looks bigger and bulkier than expectedMusk laughs it off before the conversation shifts to his longrunning fascination with the letter XWhen Kamath asks why he likes the letter so much Musk responds jokingly Sometimes I wonder whats wrong with meThe teaser then takes a popculture turn when Kamath asks which character from The Matrix Musk would want to beMusk replies Hopefully not Agent Smith Hes my hero keeping the tone playful Kamath shared the clip with the caption Heres to delaying gratificationHeres to delaying gratification The future belongs to the patient hinting at the theme of the full conversation while offering few concrete details beyond its coming soon promiseThe future belongs to the patient hinting at the broader themes of perseverance and longterm thinking that may feature in the full conversationThis comes just a day after Kamath released the first teaser a 39second silent clip showing him and Musk sitting together in what appears to be an industrial settingThe two sip coffee and exchange smiles without any dialogue while a SpaceX logo on Kamaths mug prompted speculation about the topics and setting of the full episodeKamaths podcast has increasingly drawn global personalities from technology business and politicsPrevious guests include Microsoft founder Bill Gates investor Vinod Khosla and Perplexity AI CEO Aravind Srinivas https://dailyworld.in/business/elon-musk-features-in-new-teaser-of-nikhil-kamaths-upcoming-podcast-episode-650856.html Sun, 30 Nov 2025 15:23:00 +0530 https://dailyworld.in/business/is-viral-teaser-on-elon-musks-appearance-on-nikhil-kamaths-podcast-ai-generated-650768.html New Delhi Nov 29 Tesla CEO Elon Musk is likely to feature on an upcoming episode of Zerodha founder Nikhil Kamathâs âWTFâ podcast as indicated by Kamaths viral social media post Kamath released a 39second blackâandâwhite teaser clip on the social media platform X with the caption âCaption thisâ directly tagged with Elon Musk Users wondered whether the footage was generated by Artificial Intelligence AI and they shared their doubt tagging the Grok modelThe AI model responded to the queries saying that the video âappears to be AIgeneratedThe post had amassed about 38 million views 35000 likes and over 3200 comments as of 1010 am on SaturdayThe teaser showed Musk and Kamath in what appears to be a factory setting casually sipping coffee exchanging glances and breaking into laughter without sharing a wordThe users also speculated on the topics Kamath and Musk might have discussed including technology space exploration and business insights with one fan quipping âWe got Elon Musk and Nikhilâs podcast before GTA VIâOthers praised Kamathâs influence and predicted the clip would dominate the online social media space and be a topic of discussion on the internet Past guests at Kamathâs âWTFâ podcast included Microsoft founder Bill Gates biotech pioneer Kiran MazumdarShaw Bollywood star Ranbir Kapoor Infosys cofounder Nandan Nilekani industrialist Kumar Birla Perplexity AIs Aravind Srinivas and venture capitalist Vinod KhoslaPrime Minister Narendra Modi had appeared on Kamathâs podcast sharing his childhood worldview and views on Indiaâs rising influence in global techElon Muskrun electric car company Tesla earlier this week announced the opening of its Tesla Centre in Gurugram marking a major step in the companyâs expansion in IndiaThe new facility brings retail aftersales service vehicle delivery and charging facilities together under one roof for the first time in the country IANS https://dailyworld.in/business/is-viral-teaser-on-elon-musks-appearance-on-nikhil-kamaths-podcast-ai-generated-650768.html Sat, 29 Nov 2025 11:48:00 +0530 https://dailyworld.in/business/indias-coffee-industry-to-grow-at-89-pc-to-reach-up-to-32-billion-by-2028-650779.html New Delhi Nov 29 Indiaâs coffee industry is projected to expand at a compound annual growth rate of 89 per cent by 2028 and the outâofâhome segment expected to grow at a CAGR of 15 to 20 per cent to reach 26 billionâ32 billion by 2028 an official statement said on Saturday The Coffee Board of India aims to scale national production to 9 lakh tonnes by 2047 reinforcing Indiaâs emergence as a leading global coffee producerIndia currently produces about 36 lakh tonnes annually with nearly 70 per cent exported to 128 countries the statement saidThe emergence of specialty coffees such as Monsooned Malabar Mysore Nuggets and Koraput Coffee has strengthened Indiaâs reputation as a producer of premium globally competitive varieties it saidThe success of tribal cooperatives like Tribal Development Cooperative Corporation of Odisha Ltd TDCCOL in Odisha has exemplified how coffee can be an instrument of socioeconomic empowerment and sustainable livelihood creation the government saidDominated by smallholder farmers who account for nearly 99 per cent of holdings and 70 per cent of the countryâs overall production coffee cultivation stands as a vital pillar of Indiaâs rural economyThe GST rate cuts and free trade agreements including the IndiaâUK Comprehensive Economic and Trade Agreement CETA have further expanded opportunities for valueadded coffee exportsOver the past four years exports have consistently exceeded 1 billion reaching a record 18 billion in FY25 a 40 per cent increase from 129 billion the previous yearDespite global geopolitical challenges exports during AprilâSeptember 2025 stood at 107 billion registering a 155 per cent increase over the same period in 2024The reduction of GST from 18 per cent to 5 per cent on coffee extracts essences is expected to lower retail prices by 11â12 per cent encourage domestic consumption and enhance profitability for small processors the statement said IANS https://dailyworld.in/business/indias-coffee-industry-to-grow-at-89-pc-to-reach-up-to-32-billion-by-2028-650779.html Sat, 29 Nov 2025 14:01:00 +0530 https://dailyworld.in/business/air-india-is-responsibility-not-just-a-business-tata-sons-chairman-n-chandrasekaran-650796.html Mumbai Nov 29 Tata Sons Chairman N Chandrasekaran on Saturday said that Air India is not just a business venture for the Tata Group but a responsibility they are committed to fulfilling Speaking at an event here to mark the 121st birth anniversary of J R D Tata he underlined both the challenges and the longterm promise of Indiaâs aviation sectorâI firmly believe for the Tata Group Air India is just not a business opportunity Itâs a responsibilityâ he saidâAir India is going through a major transformation but the journey has been slower than expected because of global supply chain problemsâ Chandrasekaran saidHe added that shortages of aircraft parts delays in infrastructure and unpredictable timelines for new planes have made planning extremely difficult for the airlineHe said the aviation sector worldwide is facing similar pressures with rising costs and thin profit margins adding to the strainTata Group took over the lossmaking Air India and Air India Express in January 2022 and launched an ambitious fiveyear plan to modernise operationsHowever delays in aircraft upgrades and deliveries have pushed timelines backDespite these hurdles Chandrasekaran said the group remains firmly committed to rebuilding the airlineHe also highlighted the strong growth potential of Indiaâs aviation market According to him every one per cent rise in Indiaâs GDP leads to about 2 per cent growth in domestic air travelIf India continues to grow at around 8 per cent annually the aviation sector could expand by nearly 16 per cent each yearHe said this trend will likely continue for the next three decades opening up a long period of opportunity for airlines and related industriesChandrasekaran described the coming years as an exciting phase for Indiaâs economy and aviation sector but reiterated that the environment remains unpredictableâEvery plan becomes difficult because of the situations you face in this areaâ he said referring to global disruptions affecting the industryDespite the challenges he said the Tata Group remains determined to transform Air India and restore its legacy as a leading global airline IANS https://dailyworld.in/business/air-india-is-responsibility-not-just-a-business-tata-sons-chairman-n-chandrasekaran-650796.html Sat, 29 Nov 2025 15:54:00 +0530 https://dailyworld.in/business/india-on-path-to-become-3rd-largest-economy-by-2030-with-73-trillion-gdp-650743.html New Delhi Nov 29 Already the worldâs fourth largest economy the nation is charting a confident course towards becoming the third largest one by 2030 with GDP projected at 73 trillion according to an official statement Indiaâs economic ascent continues to capture global attention and the current growth phase reflects the strength of decisive policymaking structural reforms and Indiaâs deepening global integration the statement addedAs per the latest data the real GDP of India adjusted for inflation is estimated to grow by 82 per cent in Q2 of FY 202526 against the growth rate of 56 per cent during Q2 of FY 202425The GDP in Q1 of FY 202526 grew at 78 per cent against the growth rate of 65 per cent during Q1 of FY 202425 Nominal GDP has witnessed a growth rate of 87 per cent in Q2 of FY 202526Each sector of the economy is playing a pivotal role in the growth of the country Primary sector experienced the yearonyear Real GVA growth rate of 31 per cent in Q2 FY 202526 Similarly the Secondary 81 per cent and Tertiary Sector 92 per cent have boosted the Real GDP growth rate in Q2 of FY 202526Real GDP in H1 AprilSeptember 202526 registered a growth rate of 8 per cent in comparison of 61 per cent growth rate witnessed in H1 of FY25 Primary sector 29 per cent experienced a moderate growth whereas secondary 76 per cent and tertiary sector 93 per cent exhibited sustained expansionIndiaâs inflation trajectory in October 2025 reflects a remarkable softening underscoring the economyâs robust fundamentals and effective price management measuresHeadline inflation measured by the Consumer Price Index CPI eased to 025 per cent over the previous year marking the lowest level recorded in the current CPI seriesThe inflation remains well within the tolerance band of RBI The moderation in inflation is consistent with the RBIâs decision to maintain the repo rate at 550 per cent with a neutral stance reflecting confidence in price stability and growth prospects according to the statementâIndiaâs economy is progressing on a stable and resilient growth path supported by structural reforms digital transformation and a strong focus on inclusive development With international organisationsâ confidence in the growth trajectory of India and stable macroeconomic indicators the economy is well positioned to sustain its economic momentumâ it added IANS https://dailyworld.in/business/india-on-path-to-become-3rd-largest-economy-by-2030-with-73-trillion-gdp-650743.html Sat, 29 Nov 2025 10:03:00 +0530 https://dailyworld.in/business/nifty-sensex-rally-for-2nd-week-over-strong-q2-earnings-domestic-inflows-650745.html Mumbai Nov 29 The Indian equity benchmarks made marginal gains for the third consecutive week supported by positive global cues robust domestic inflows and strong Q2 earnings Benchmark indices Nifty and Sensex edged higher 034 and 052 per cent this week to close at 26202 and 85706 respectivelyAnalysts said that global cues remained supportive aided by softer US yields renewed expectations of a Fed rate cut and benign crude prices that helped temper inflation concernsBroader indices underperformed with the Nifty Midcap100 and Smallcap100 ending the week down 011 per cent and 010 per cent respectivelyGains during the week were led by pharma PSU banks media and IT while realty consumer durables and oil amp gas lagged behindIndian equities navigated a highly eventful week characterised by alternating phases of volatility resilience and profit booking finally closing the week on a positive noteNifty reached an intraday low of 25842 before bouncing back and making a high of 26310 on the last day of trading weekBharat K Gala President Technical Head Ventura said that key corrective zones traders should watch out for is the support zone at 25851â25566 A breach of this level can take the index to 25337 and further to 25107â24780 zoneDomestically the strongerthanexpected Q2 GDP print driven by resilient manufacturing solid construction activity and healthy private consumption is set to support sentiment in the near term market watchers saidWith robust GDP momentum and improving credit growth providing a solid backdrop for earnings acceleration in H2 the mediumterm outlook remains positive they addedInvestors look for cues next week from a critical lineup of macro data including India and US PMI releases US core PCE inflation and the RBIâs policy decision IANS https://dailyworld.in/business/nifty-sensex-rally-for-2nd-week-over-strong-q2-earnings-domestic-inflows-650745.html Sat, 29 Nov 2025 10:13:00 +0530 https://dailyworld.in/business/indias-logistics-costs-now-just-797-pc-of-gross-domestic-product-650539.html New Delhi Nov 27 Indias logistics costs are only at 797 per cent of gross domestic product GDP contrary to commonly cited figures of 13 to 14 per cent of GDP official data showed on Thursday citing assessment by DPIIT and the National Council of Applied Economic Research With initiatives like PM Gatishakti PublicOffshore SMILE LEAPS 2025 LEADS 2025 IPRS 30 LDB 20 etc and green corridors on the move India is transforming its logistics from a cost centre into a powerful competitive advantage system the official statement saidStrengthening Multimodal and Integrated Logistics Ecosystem SMILE programme launched logistics plans in eight pilot cities across eight states to assess existing logistics infrastructure and improve efficiency and reduce costsThe Eastern Dedicated Freight Corridor has reduced wagon turnaround from 15â16 days to 2â3 days and cut transit times from over 60 hours to 35â38 hours with freight operations now managed from a central control centre in PrayagragThe revival of the Ganga Waterway linked to the EDFC at Varanasi allows manufacturers to move cargo efficiently to eastern ports like HaldiaInland waterways transported a record 14584 million tonnes of cargo last year while rail congestion is being addressed through dedicated freight corridors the statement saidPlatforms such as the Unified Logistics Interface Platform and Logistics Data Bank LDB 20 are enabling realâtime visibility of millions of containersPM GatiShakti Public a webbased platform provides access to 230 nonsensitive datasets for private entities researchers and citizens promoting transparency datadriven decisionmaking and crosssector collaborationIn industrial zones plugandplay parks under NICDC National Industrial Corridor Development Corporation offer ready infrastructure for investors On the ground reforms such as GST and the eWay Bill have removed longstanding frictions in interstate transport IANS https://dailyworld.in/business/indias-logistics-costs-now-just-797-pc-of-gross-domestic-product-650539.html Fri, 28 Nov 2025 00:13:00 +0530 https://dailyworld.in/business/sensex-smashes-86-000-for-1st-time-nifty-hits-new-record-650553.html Mumbai Nov 27 Indian stock markets continued their strong momentum on Thursday with both the Sensex and Nifty hitting new record highs Investors remained optimistic as hopes of interest rate cuts in the US and India grew stronger while steady buying by foreign investors further boosted sentiment across sectorsThe Nifty climbed to a fresh alltime high of 2630695 surpassing its previous record of 2627735 touched on September 27 2024The Sensex also crossed a major milestone moving past the 86000 mark for the first time to reach 8602618Among the top performers in the Nifty50 pack were Bajaj Finance Shriram Finance Asian Paints Bajaj Finserv and Larsen amp Toubro all gaining up to 2 percentThese stocks helped support the marketâs upward move Foreign portfolio investors maintained their buying momentum turning net buyers for the second consecutive session on WednesdayThey invested Rs 477803 crore in Indian equities following an inflow of Rs 78532 crore on Tuesday This consistent buying helped keep domestic markets strongMarket sentiment also stayed positive due to growing expectations that the US Federal Reserve may cut interest rates in DecemberThe Nifty had already recorded its best trading session in five months on Wednesday closing at a 14month high supported by gains in ratesensitive sectors ahead of the Reserve Bank of Indiaâs policy meeting next weekAsian markets were also trading higher reflecting global optimism Investors increased their bets that the US Fed will cut rates next month with the CME FedWatch tool showing the probability rising sharply to around 85 per cent from just 30 percent a week earlierMajor Asian indices including South Koreas Kospi Japans Nikkei 225 Shanghais SSE Composite and Hong Kongs Hang Seng were all in the greenUS markets had also closed higher on Wednesday adding to the positive global sentiment IANS https://dailyworld.in/business/sensex-smashes-86-000-for-1st-time-nifty-hits-new-record-650553.html Fri, 28 Nov 2025 00:27:00 +0530 https://dailyworld.in/business/pushing-the-pioneer-legacy-forward-realme-p4x-redefines-all-round-performance-650555.html New Delhi Nov 27 In todayâs fastevolving digital space consumers expect smartphones that deliver much more than a single standout feature Performance battery life display quality durability and seamless multitasking are now essentials for a lifestyle that blends work entertainment and connectivity Whether creating content gaming on the go streaming highresolution media or staying productive users want speed reliability and longterm value With rising expectations the demand is stronger than ever for devices that offer a smooth allrounded experience without compromising on durability style or future readinessThis trend aligns strongly with the latest CMR Mobile Industry Consumer Insight Study 2025 which shows that Indiaâs youth are now firmly prioritising performancefirst smartphonesAs per the study 86 per cent of young users seek raw speed and lagfree multitasking while 82 per cent are willing to switch brands for better features With battery endurance thermal control 5G readiness and consistent camera quality now seen as nonnegotiable performance has become central to confidence productivity and social presenceIn this evolving landscape the realme P series has emerged as the most recommended youth smartphone brandLeading brand advocacy at 79 per cent and earning an impressive 96 per cent satisfaction rating realme resonates strongly with digitalfirst consumers who value powerful specifications premium aesthetics and exceptional pricetoperformanceThe CMR findings reaffirm realmeâs momentum among young users underscoring its ability to deliver performance design and reliability tailored specifically for the youthAt the heart of this momentum lies the P Series philosophy realmeâs commitment to delivering the best spectoprice ratio while deeply understanding the needs of Indiaâs youth In a market where young online consumers often face tough choices and compromise due to budget limitations the P Series was created to eliminate those tradeoffsIt was never just another product line but a mission to provide meaningful value by ensuring users no longer had to choose between performance design battery life or camera qualityFrom its inception the P Series carried forward realmeâs legacy of onlinefirst disruption that began with the historic realme 1Over successive generations the P Series evolved by listening closely to users the P1 Series proved that style and performance can coexist affordably the P2 Series refined display and build quality and the P3 Series established the P Series as a global success with over three million units shippedThis journey has built a strong emotional connection with young consumers who see the P Series as a reliable youthcentric line that consistently delivers more than expectedBuilding on this strong foundation realme is now gearing up for the next leap with the upcoming realme P4x which strengthens the brandâs commitment to eliminating compromises for young online consumersInformed by years of user feedback and a deep understanding of what the youth truly value P4x carries forward the P Series philosophy of meaningful usercentric innovation delivering a balanced blend of performance design and practical usabilityPositioned for a market where speed endurance effortless multitasking and longterm reliability are nonnegotiable the realme P4x continues realmeâs trajectory of delivering products that balance innovation with practicalityAt the same time realme remains committed to delivering the best valueformoney in its category with the P4x playing a crucial role in ensuring that rising industry costs are not passed on to consumers Guided by stronger supplychain management the brandâs Make in India advantage and tighter operational controls the P4x upholds realmeâs pledge to offer highvalue products even in challenging cost environmentsThe smartphone embodies a thoughtful blend of hardware strength software optimization and usercentric design philosophy reflecting realmeâs understanding of what modern smartphone users truly valueCarrying forward its pioneer legacy the realme P4x introduces the fastest experience in its segment marking a significant leap in performance capabilities At its core is the powerful MediaTek Dimensity 7400 Ultra 5G chipsetâthe segmentâs fastest delivering flagshiplevel responsiveness and efficiencyThe deviceâs outstanding 780000 AnTuTu score one of the strongest benchmarks in the category solidifies its position as a performance powerhouse Complementing this is the massive 7000mAh Titan Battery earning it the title of âFastest 7000mAh Pioneerâ and ensuring exceptional endurance for daylong travel extended content creation sessions marathon gaming and uninterrupted productivityWith 45W fast charging users enjoy minimal downtime and longterm reliability eliminating battery anxiety even under heavy useThe realme P4x is built to deliver speed in every dimension and is the only device in its segment to support 90 FPS on BGMI and 120 FPS on Free FireIt ensures quicker app launches smoother and more competitive gameplay and ultraresponsive touch interactions powered by its 144Hz Sunlight Display for clear visibility even in harsh outdoor lighting With up to 18GB dynamic RAM and 256GB storage the device enables lagfree multitasking and ample space for apps files and highperformance workloads while its 5300mm² VC FrostCore Cooling System capable of reducing CPU temperature by up to 20 degrees Celsius maintains sustained peak performance during extended gaming 4K video recording and rapid app switchingThe realme P4x will officially launch on 4 December 2025 at 12 PM on Flipkart and realmecom bringing a comprehensive real world ready smartphone experience to users who expect the very best across performance endurance and design IANS https://dailyworld.in/business/pushing-the-pioneer-legacy-forward-realme-p4x-redefines-all-round-performance-650555.html Fri, 28 Nov 2025 00:29:00 +0530 https://dailyworld.in/business/india-reits-can-grow-by-rs-108-trillion-growth-opportunity-in-four-years-650559.html New Delhi Nov 27 Indiaâs Real Estate Investment Trust market could expand by Rs 108 trillion in gross asset value by 2029 with the office market accounting for about 653 per cent of it a report said on Thursday Indias REIT market has achieved a landmark milestone in FY 2025 crossing the Rs 1 trillion market capitalization threshold the report from consultancy JLL saidThe report said that REIT market capitalisation rose from Rs 264 billion in fiscal 2020 to Rs 16 trillion of September 30 2025The sector has evolved from a single REIT managing 33 million sq ft in 2019 to five listed REITs collectively controlling 174 million sq ft of leasable office and retail spaceâIndias REIT sector has evolved from an emerging concept to a compelling investment vehicle This remarkable 40 per cent CAGR trajectory across 6 years reflects increasing investor confidence in commercial real estate as an institutional asset class said Lata Pillai Senior Managing Director amp Head of Capital Markets India JLLThe unit holding pattern reveals substantial increase in institutional holdings by mutual funds insurance companies pension funds sovereign wealth fund NBFCs etc reflecting the markets increasing maturityREITsâ share of Grade A office stock in Indiaâs top seven cities grew to 15 per cent by June 2025 from 42 per cent in 2019Strong leasing fundamentals were evident with combined occupancy rates of office REITs reaching 91 per cent as of September 2025 of all four office REITsThe convergence of institutional capital regulatory support and substantial asset pipeline positions Indias REIT market for exponential growth over the next 57 years making strategic positioning critical for market leadership the report notedSEBI Chairman Tuhin Kanta Pandey earlier this month said that the markets regulator is actively studying whether Real Estate Investment Trusts REITs and Infrastructure Investment Trusts InvITs should be included in major market indices IANS https://dailyworld.in/business/india-reits-can-grow-by-rs-108-trillion-growth-opportunity-in-four-years-650559.html Fri, 28 Nov 2025 00:34:00 +0530 https://dailyworld.in/business/economic-inequality-in-bangladesh-set-to-widen-amid-rising-poverty-and-stagnant-wages-report-650561.html New Delhi Nov 27 Economic inequality in Bangladesh is expected to grow further in the short term as high inflation stagnant wages and weakening household purchasing power continue to affect lowincome families a report has said A new World Bank assessment released in Dhaka warns that more people may slip into poverty as the gap between rich and poor widens as per The Daily Star reportThe World Bankâs Poverty amp Equity Assessment 2025 report shows that the Gini index which measures inequality on a scale from 0 to 100 has been rising since 2022 and will continue to increase through 2025This signals that wealth and income are becoming more concentrated among higherincome householdsThe report highlights that while overall consumption inequality in the country has remained stable the situation is different across regionsIn rural areas consumption inequality has slightly decreased with the Gini index falling from 292 to 282But in urban regions where living costs are higher inequality has worsened The urban Gini index climbed from 331 to 345 showing that city residents are facing wider gaps in living standardsIncome inequality has increased even more sharply When considering earnings remittances and returns from assets the Gini index rose from 51 to 54 indicating that richer households are gaining much more than poorer onesBangladesh has been dealing with rising inequality for nearly two decades but the World Bank warns that the current pressures such as inflation and slow wage growth are speeding up the trendSince 2016 consumption growth has become less beneficial for the poorest households with most gains going to middle and upperincome familiesThe report estimates that nearly 20 lakh more people could fall into poverty in 2025 pushing the national poverty rate above 21 per centSince 2022 about 60 lakh people have already slipped into poverty The poverty gap which measures how far the poor are from the poverty line is also expected to widen by two points this yearThe impact of economic stress has not been the same for everyone Households with highly skilled workers better job opportunities or remittance income have managed to avoid the worst effectsSome have even improved their economic status since 2022 This uneven pattern is expected to push overall inequality up by nearly two Gini points by 2025 according to the report IANS https://dailyworld.in/business/economic-inequality-in-bangladesh-set-to-widen-amid-rising-poverty-and-stagnant-wages-report-650561.html Fri, 28 Nov 2025 00:35:00 +0530 https://dailyworld.in/business/young-innovators-worldwide-can-find-inspiration-from-confidence-of-indias-gen-z-pm-modi-650564.html New Delhi Nov 27 Prime Minister Narendra Modi on Thursday lauded Indiaâs Generation Z for their confidence and capacity building Speaking via video conferencing at the inauguration of the Infinity Campus of Indian space startup Skyroot and unveiling its first orbital rocket VikramI PM Modi praised the countryâs Gen Z for their positive mindset and creativityâOur youth our Gen Z are developing solutions to challenges in every sector Young innovators around the world can find inspiration from the confidence of Indiaâs Gen Zâ PM Modi saidâThe capacity building positive mindset and creativity of Indiaâs Gen Z can set a global benchmark for Gen Z across the worldâ he saidEmphasising that Indiaâs youth always place national interest above all and make the best use of every opportunity PM Modi remarked that when the government opened the space sector the countryâs youth especially the GenZ generation came forward to take full advantage of itHe highlighted that today more than 300 space startups are giving new hope to Indiaâs space future and noted that most of these startups began with small teams sometimes two people sometimes five sometimes in a small rented room with limited resources but with determination to reach new heightsâThis spirit has given birth to the private space revolution in Indiaâ said the Prime Minister He noted that GenZ engineers designers coders and scientists are creating new technologies whether in propulsion systems composite materials rocket stages or satellite platformsPM Modi stressed that Indiaâs youth are working in areas that were unimaginable just a few years agoHe remarked that Indiaâs private space talent is establishing a distinct identity across the world and added that today for global investors Indiaâs space sector is becoming an attractive destinationThe Prime Minister remarked that the changes being witnessed in the space sector are part of the broader startup revolution taking place in IndiaOver the past decade a new wave of startups has emerged across diverse sectors such as fintech agri tech health tech climate tech edu tech and defense tech with Indiaâs youth particularly the GenZ generation providing innovative solutions in every field PM Modi saidPM Modi emphasised that India has now become the worldâs thirdlargest startup ecosystemThere was a time when startups were confined to a few big cities but today they are emerging from small towns and villages as well the Prime Minister said underlining that the country now has more than 15 lakh registered startups with many of them having achieved unicorn statusIndia is no longer confined to apps and services but is now advancing rapidly towards deeptech manufacturing and hardware innovation said the Prime Minister thanking GenZ IANS https://dailyworld.in/business/young-innovators-worldwide-can-find-inspiration-from-confidence-of-indias-gen-z-pm-modi-650564.html Fri, 28 Nov 2025 00:38:00 +0530 https://dailyworld.in/business/india-reits-can-grow-into-rs-108-lakh-crore-opportunity-in-4-years-650565.html New Delhi Nov 27 Indiaâs Real Estate Investment Trust market could expand by Rs 108 lakh crore in gross asset value by 2029 with the office market accounting for about 653 per cent of it a report said on Thursday Indias REIT market has achieved a landmark milestone in FY 2025 crossing the Rs 1 trillion market capitalization threshold the report from consultancy JLL saidThe report said that REIT market capitalisation rose from Rs 264 billion in fiscal 2020 to Rs 16 trillion of September 30 2025The sector has evolved from a single REIT managing 33 million sq ft in 2019 to five listed REITs collectively controlling 174 million sq ft of leasable office and retail spaceâIndias REIT sector has evolved from an emerging concept to a compelling investment vehicle This remarkable 40 per cent CAGR trajectory across 6 years reflects increasing investor confidence in commercial real estate as an institutional asset class said Lata Pillai Senior Managing Director amp Head of Capital Markets India JLLThe unit holding pattern reveals substantial increase in institutional holdings by mutual funds insurance companies pension funds sovereign wealth fund NBFCs etc reflecting the markets increasing maturityREITsâ share of Grade A office stock in Indiaâs top seven cities grew to 15 per cent by June 2025 from 42 per cent in 2019Strong leasing fundamentals were evident with combined occupancy rates of office REITs reaching 91 per cent as of September 2025 of all four office REITsThe convergence of institutional capital regulatory support and substantial asset pipeline positions Indias REIT market for exponential growth over the next 57 years making strategic positioning critical for market leadership the report notedSEBI Chairman Tuhin Kanta Pandey earlier this month said that the markets regulator is actively studying whether Real Estate Investment Trusts REITs and Infrastructure Investment Trusts InvITs should be included in major market indices IANS https://dailyworld.in/business/india-reits-can-grow-into-rs-108-lakh-crore-opportunity-in-4-years-650565.html Fri, 28 Nov 2025 00:39:00 +0530 https://dailyworld.in/business/c-dot-to-establish-centre-of-excellence-at-iit-roorkee-for-high-end-research-650569.html New Delhi Nov 27 The Centre for Development of Telematics CDOT has signed a memorandum of understanding MoU with the Indian Institute of Technology Roorkee IITR to establish a centre of excellence CoE on the IITR campus it was announced on Thursday The primary objective of the CDOT Centre of Excellence CoE is to accelerate indigenous research innovation and capacity building in advanced communication technologiesThe CoE will have a strong focus on research in the areas of wireless communication quantum technologies cybersecurity and AIbased applicationsEstablishing CoE will promote academiaindustry synergy leveraging the academic expertise of IITR and the industry strength of CDOT and enable students researchers and startups to contribute to Indiaâs innovation and selfreliance journey It will strengthen Indiaâs leadership position in global telecom innovation the statement saidThe centre will drive joint research and prototype development in key emerging domains including 5G and 6G RFsubTHz integrated circuits sensors millimetrewave beamforming antennas with integrated ICs V2X Communication datadriven wireless communication technologies and energy efficiencyâThis collaboration brings together the expertise of Indiaâs leading academic institute and the RampD strengths of CDOT to accelerate indigenous telecom innovation Together IIT Roorkee and CDOT will build technologies that reduce dependence on foreign systems and create new opportunities for India to lead in advanced domains such as 5G 6G AI and secure communication systems said Rajkumar Upadhyay CEO CDOTLeveraging CDOTâs deep expertise in the development of indigenous telecom solutions the CoE will serve as a dedicated hub for highimpact RampD supporting startups developing intellectual property and enabling continuous knowledge exchange through workshops training programs and joint academicâindustry engagementsThis will strengthen Indiaâs leadership position in global telecom innovation and contribute substantially to the nationâs technological selfrelianceâThis collaboration marks an important milestone for IIT Roorkee as we join hands with CDOT to advance Indiaâs nextgeneration telecom capabilities IIT Roorkee has a strong legacy in communication engineering semiconductor technologies and emerging wireless systems that will complement CDOTâs national mission for secure indigenous and futureready telecom solutions said Professor KK Pant Director IIT Roorkee IANS https://dailyworld.in/business/c-dot-to-establish-centre-of-excellence-at-iit-roorkee-for-high-end-research-650569.html Fri, 28 Nov 2025 00:43:00 +0530 https://dailyworld.in/business/cbdt-to-nudge-high-risk-taxpayers-holding-foreign-assets-to-review-and-revise-returns-650574.html New Delhi Nov 27 The Central Board of Direct Taxes CBDT on Thursday said it is launching the second âNUDGEâ campaign under which SMSs and emails will be sent to highrisk taxpayers advising them to review and revise their incometax returns on or before December 31 2025 to avoid penal consequences Analysis of the Automatic Exchange of Information AEOI for FY 202425 CY 2024 by CBDT has identified highrisk cases where foreign assets appear to exist but have not been reported in the ITRs filed for AY 202526The campaign from November 28 aims to facilitate correct reporting in Schedule Foreign Assets FA and Foreign Source Income FSI in ITRsThe first NUDGE campaign launched on November 17 2024 targeted select taxpayers who had been reported by foreign jurisdictions under the AEOI framework as holding foreign assets that were not disclosed in their Income Tax Returns ITRs for AY 202425The initiative yielded positive outcomes with 24678 taxpayers including several not directly nudged revisiting their returns and disclosing foreign assets amounting to Rs 29208 crore along with foreignsource income of Rs 108988 croreâAccurate and complete disclosure of foreign assets and income is a statutory requirement under the Incometax Act 1961 and the Black Money Undisclosed Foreign Income and Assets and Imposition of Tax Act 2015â said Finance Ministry in a statementCBDT utilises advanced data analytics to simplify compliance processes reduce information asymmetry and reinforce a transparent and trustoriented interface with taxpayers The initiative aligns with the vision of Viksit Bharat fostering accountability transparency and a culture of voluntary complianceIt continues to strengthen its datadriven nonintrusive and taxpayercentric measures aimed at improving voluntary complianceThe âNonintrusive Usage of Data to Guide and Enable NUDGEâ initiative reflects CBDTâs commitment to a forwardlooking technologyenabled and trustbased tax administration focused on promoting accurate reporting and enhancing revenue mobilisationThe CBDT advises all eligible taxpayers to utilise this opportunity to ensure complete compliance with statutory reporting requirements IANS https://dailyworld.in/business/cbdt-to-nudge-high-risk-taxpayers-holding-foreign-assets-to-review-and-revise-returns-650574.html Fri, 28 Nov 2025 00:48:00 +0530 https://dailyworld.in/business/imf-report-exposes-how-pakistans-energy-crisis-is-rooted-in-mismanagement-and-political-interference-650584.html New Delhi Nov 27 Pakistanâs longrunning energy crisis has once again come under global scrutiny this time through a hardhitting report by the International Monetary Fund IMF The latest Governance and Corruption Diagnostic Assessment Pakistan November 2025 paints a troubling picture of how the countryâs power and gas sectors have been dragged into deep debt because of political patronage weak oversight and decades of mismanagementAt the centre of the crisis is Pakistanâs circular debt a massive financial burden that has grown so large it now threatens the countryâs economic stabilityThe IMF says this debt is not the result of bad luck or global conditions but the outcome of decisions made by those in powerAccording to the report the energy sector has become a âcrime sceneâ where political connections often matter more than competenceThe IMF highlights how the leadership of key regulators like NEPRA and OGRA is frequently chosen based on connections rather than meritInstead of bringing in new talent extensions are often granted repeatedly especially in OGRA allowing the same officials to continue without accountabilityIn some cases one official holds two top posts at the same time weakening checks and balances and undermining the very purpose of regulationThe governmentâs use of supplementary grants funds released outside the regular budget has also raised alarmsThe IMF notes that in 2023â24 every rupee of these extra funds went to the power and petroleum sectorsIn earlier years too a large share of supplementary spending supported the same troubled sectorsThe report warns that such spending bypasses Parliament and weakens financial disciplineThe countryâs stateowned enterprises SOEs including electricity distribution companies DISCOs and gas companies are another major source of lossesDespite earning over 13 trillion rupees in revenue federal SOEs reported a net loss of 30 billion rupees in 2024The IMF says these losses are driven not only by inefficiency but also by widespread theft and political interferencePowerful groups often use electricity and gas without paying for it confident that the government will absorb the lossesPakistanâs growing stock of government guarantees now at 34 trillion rupees mostly linked to the power sector is also a serious concernThese guarantees are potential liabilities that could become immediate obligations if stateowned companies fail to pay their duesThe IMF warns that such risks leave the government vulnerable and increase the chances of future bailoutsEven the Special Investment Facilitation Council SIFC which the government promotes as a key reform body receives a cautious mention in the reportThe IMF says its broad powers and immunity could lead to misuse unless transparency is ensured IANS https://dailyworld.in/business/imf-report-exposes-how-pakistans-energy-crisis-is-rooted-in-mismanagement-and-political-interference-650584.html Fri, 28 Nov 2025 01:03:00 +0530 https://dailyworld.in/business/job-postings-in-india-stay-above-pre-covid-pandemic-levels-report-650586.html New Delhi Nov 27 Formal job creation in India softened in the month of October but despite this job postings remained above the preCovid pandemic level a report said on Thursday Amid slowdown Indian job postings are still 60 per cent above prepandemic levels but have fallen 25 per cent since their peak in January 2023 Indeed a leading hiring platform said in its reportOver the past three months job postings declined in almost threequarters of occupations Yet in a softening job market there will still be some strong performers and the past three months have been no exception said the reportJob postings in cleaning and sanitation rose around 20 per cent over the past three months ahead of community and social service 174 per cent dental 131 per cent nursing 112 per cent and food preparation and service 103 per centAnother positive was the posting for human resources which climbed 23 per centHowever these gains were more than offset by weakness in banking and finance where postings fell 256 per cent along with legal 224 per cent retail 167 per cent and loading and stocking 15 per cent the report notedEvery month the Indian workforce gradually transitions towards more formal work arrangements As the nation transitions job creation in the formal sector is expected to outpace overall employment growth nationwide said Callam Pickering Indeedâs APAC Senior EconomistThis transition is also why job postings in India have been stronger than in other Indeed markets both during the postpandemic job boom and the subsequent slowdown he addedMeanwhile during the month 91 per cent of Indian job postings explicitly mentioned phrases such as âwork from homeâ or âwork remotelyâ in their job descriptions Thatâs up from 76 per cent a year agoRemote opportunities are most common in IT infrastructure operations and support at 182 per cent of postings in the October quarter 2025 ahead of community amp social service 151 per cent and industrial engineering 14 per cent IANS https://dailyworld.in/business/job-postings-in-india-stay-above-pre-covid-pandemic-levels-report-650586.html Fri, 28 Nov 2025 01:06:00 +0530 https://dailyworld.in/business/from-kachchhi-kharek-to-kesar-mango-over-10-treasures-of-kutch-and-saurashtra-earn-gi-tag-650588.html Gandhinagar Nov 27 Prime Minister Narendra Modi has consistently championed Indiaâs indigenous and heritage products placing local strength at the heart of national growth His call for Vocal for Local and Aatmanirbhar Bharat has given visibility to artisans and farmers across the country In line with this vision the Prime Minister has also actively promoted Geographical Indication GI products highlighting them in his radio address Mann Ki Baat and personally felicitating artisans who preserve traditional craftsUnion Commerce and Industry Minister Piyush Goyal has set an ambitious goal of reaching 10000 GItagged products across India by 2030 under the vision of âVikas Bhi Virasat BhiâGujarat has emerged as a strong contributor to this national mission by promoting its rich artisanal heritage from Kutchâs celebrated crafts to Saurashtraâs premium agricultural produce on global platformsGI tagging reinforces the stateâs commitment to âViksit Gujarat to Viksit Bharatâ transforming local skills into global competitiveness Kutch and Saurashtra together have secured GI recognition for over ten iconic products including Ajrakh block printing Bandhani tiedye Rogan art Kutch shawls the famed Kachchhi Kharek and the globally loved Gir Kesar mangoThe upcoming Vibrant Gujarat Regional Conference VGRC in Rajkot will spotlight the regionâs craft excellence and export capacity offering artisans a robust platform to scale their businessesRenowned for its blend of tradition and artistry Kutch boasts GItagged crafts such as embroidery Ajrakh printing Bandhani Rogan painting and the Kutch shawl In the agricultural category Kachchhi Kharek a celebrated variety of date known for its rich flavour and nutritional value has also earned GI statusSaurashtraâs signature products include Gir Kesar mango often hailed as the âQueen of Mangoesâ the famed Jamnagari Bandhani and the exquisite Rajkot Patola silk weaving tradition cherished by Bollywood celebritiesSurendranagarâs Tangaliya shawl with its intricate weaving technique has also built a loyal international following The upcoming VGRC for Saurashtra and Kutch aims to accelerate the regionâs artisan economyThe twoday conference will bring together entrepreneurs artisans interior designers and product designers creating avenues of collaboration with the Government eMarketplace private enterprises investors and leading ecommerce platforms The event promises to enhance innovation expand market access and drive sustainable growth for traditional craft clusters IANS https://dailyworld.in/business/from-kachchhi-kharek-to-kesar-mango-over-10-treasures-of-kutch-and-saurashtra-earn-gi-tag-650588.html Fri, 28 Nov 2025 01:09:00 +0530 https://dailyworld.in/business/institutional-grade-a-office-supply-to-surge-in-noida-as-airport-infra-projects-spur-growth-650593.html New Delhi Nov 27 Noida is poised for a structural shift in its commercial real estate market by 2028 as institutional or developerâowned Grade A projects are likely to outpace fragmented strata office supply a report said on Thursday Leasing momentum of the citys office assets remains strong with 33 million sq ft of gross leasing between January and September 2025 and projected to reach 47 million sq ft by end of the year the report from Cushman amp Wakefield saidWhile 2026 will see over 25 million sq ft of strataled office completions the trend reverses sharply by 2028 when institutional or developerowned Grade A projects rise to nearly 29 MSF far outpacing strata formats which fall to around 028 million sq ftâ the statement saidThe consultancy said that Noida is a critical engine for economic development driven by strategic infrastructure projects strong policy initiatives and a competitive STEM talent poolWith Phase 1 of Noida International Airport NIA 95 per cent complete and expected to commence operations by December 2025 alongside several other major infrastructure upgrades Noida will enjoy high global connectivity with the economic and real estate trajectory of the city transformedNoidaâs total office stock stood at 434 million sq ft including 266 million sq ft of Grade A space as of Q3 2025 and investmentâgrade office assets have risen 40 per cent over five yearsGlobal Capability Centres GCC contributed 1 million square ft in the first nine months and expected to close at 128 MSF by December 2025Infrastructure upgrades especially the Noida International Airport and enhanced metro and expressway connectivity combined with strong policy support and a deep STEM talent base are creating a powerful foundation for longterm expansionâ said Supriya Chatterjee Managing Director North Cushman amp WakefiedUttar Pradesh government has introduced targeted policy support for IT digital services and highvalue operations offering fiscal incentives streamlined approvals and infrastructure support that drew new GCC establishments IANS https://dailyworld.in/business/institutional-grade-a-office-supply-to-surge-in-noida-as-airport-infra-projects-spur-growth-650593.html Fri, 28 Nov 2025 01:16:00 +0530 https://dailyworld.in/business/new-labour-codes-offer-enhanced-maternity-support-equal-pay-and-flexibility-in-workplace-650600.html New Delhi Nov 27 The recently launched labour codes aim to empower women with enhanced maternity support equal pay and flexibility in the workplace said the government on Thursday Earlier this month the country witnessed a major shift in its labour regulation framework with the implementation of the four consolidated labour codesThe four labour codes include the Code on Wages 2019 the Industrial Relations Code 2020 the Code on Social Security 2020 and the Occupational Safety Health and Working Conditions Code 2020The Codes modernise labour regulations and provide women with equality maternity benefits workplace safety and representation in decisionmaking bodiesBeyond safeguarding the rights of women workers the reforms also expand opportunities by ensuring equal treatment and supporting their participation across all sectors including night shifts and hazardous industriesâWomen constitute a vital and growing segment of Indiaâs workforce and the new labour codes mark a significant step towards creating a more inclusive safe and enabling work environment for themâ said the government in an official statementThe key benefits extended to women span all four labour codesThe Industrial Relations Code 2020 mandates adequate representation of women in the Grievance Redressal Committee GRC not less than their proportion in the total workforce of the establishment It ensures women workers have a fair voice in workplace dispute resolution womenâs perspectives help address issues more comprehensively and sensitivelyUnder the Code on Social Security every woman employee who has worked for at least 80 days in the 12 months before the expected delivery is eligible for equal wages during the maternity leave period of 26 weeksIn addition a woman who adopts a child below 3 months of age or is a commissioning mother a biological mother who uses surrogacy is eligible for 12 weeks of maternity benefit from the date of adoption or when the child is handed overNotably the law provides for work from home nursing breaks for breastfeeding women and creche facilitiesFurther the law has opened the gates for women workers to work in all establishments and do all types of workâThey may also work at night that is before 6 am and beyond 7 pm with their consent and the employer is required to make adequate arrangements for their safety facilities and transportationâ the statement said supporting a âhigher female participation in the workforceâThe Code on Wages 2019 also mandates employers not to discriminate on the grounds of gender in matters relating to recruitment wages or conditions of employmentâTogether these measures strengthen womenâs economic empowerment and contribute to a more resilient and genderbalanced labour ecosystemâ the statement said IANS https://dailyworld.in/business/new-labour-codes-offer-enhanced-maternity-support-equal-pay-and-flexibility-in-workplace-650600.html Fri, 28 Nov 2025 01:23:00 +0530 https://dailyworld.in/business/maharashtra-launches-matrix-initiative-to-boost-startup-ecosystem-650613.html Mumbai Nov 27 The Maharashtra government on Thursday launched the MATRIX Maharashtra Technology Research Incubator and Xcelerator program aimed to revolutionise the states emerging technology landscape This initiative is designed to foster innovation support startups and position Maharashtra as a leading hub of hightech development in India As part of the scheme the government aims to establish around 200 incubation centres across Maharashtra within the next few years These centres will provide stateoftheart infrastructure mentorship and financial assistance to startups involved in cuttingedge sectors such as Artificial Intelligence AI Internet of Things IoT Blockchain Robotics Quantum Computing Virtual and Extended Reality Big Data and Cyber Security The focus is on nurturing highpotential startups that can contribute significantly to technological advancement and economic growthThe MATRIX program is structured to encourage inclusive development by reserving a minimum of 10 per cent incubation space for women entrepreneurs as well as startups led by Scheduled Castes SC and Scheduled Tribes ST It emphasises a collaborative approach involving government agencies private sector developers and research institutions like IIT and STPI to ensure effective implementationOne of the features of the program is its supportive financial framework It offers subsidised rent and infrastructural benefits with startups paying a maximum of 25 per cent of the highest IT park rental for general startups and up to 125 per cent for reservedcategory startups like SCST and womenled enterprises The initiative operates on a nonprofitnoloss basis ensuring that startups and incubators can thrive without excessive financial burdensThe government also plans to roll out special focus areas including Industry 40 Social Impact Tech FinTech Biotech space technology green energy and agritech These sectors are identified as critical growth drivers aiming to create thousands of new jobs and attract significant investmentsThe targeted outcome is to benefit around 10000 startups over the next five years with hopes of generating over Rs 1 lakh crore in revenue and establishing Maharashtra as a global innovation hotspotThe initiative promotes a performancebased approach with incubators required to submit biannual progress reports and participate in regular reviews The government retains the authority to evaluate extend or revoke incubator licenses based on performance The entire program will be overseen by the Directorate of Industries and a dedicated MATRIX Steering Committee IANS https://dailyworld.in/business/maharashtra-launches-matrix-initiative-to-boost-startup-ecosystem-650613.html Fri, 28 Nov 2025 01:41:00 +0530 https://dailyworld.in/business/indias-office-leasing-income-to-grow-10-pc-in-fy27-led-by-itbpm-gccs-650621.html New Delhi Nov 27 Indiaâs commercial office sector is witnessing an unprecedented leasing demand led by the Information TechnologyâBusiness Process Management ITâBPM sector and massive expansions from Global Capability Centres GCCs a report showed on Thursday The report from rating agency ICRA said that robust absorption is anticipated to fuel a 1415 per cent expansion in rental inflow and Net Operating Income NOI in the commercial office sector in FY26 followed by a 910 per cent growth in FY27Occupancy in Indiaâs top six cities is projected to improve to 87â88 per cent in FY26 and FY27 up from 86 per cent in FY25âThe surge in demand for office space remains buoyant fuelled by the ITâBPM and Banking Financial Services and Insurance BFSI sectors Despite global headwinds including policy tightening and trade restrictions in the US office leasing activities by the GCCs in India have remained buoyantâ said Anupama Reddy Vice President and CoâGroup Head at ICRAThe report forecasts GCCs to lease 50â55 million square feet between April 2025 and March 2027 accounting for about 40 per cent of incremental office demandThe sustained demand from the GCCs and BFSI coupled with Indiaâs cost and talent advantages is setting the stage for a new era of growth and stability in the sector Anupama saidThe share of GCCs in total office leasing rose from 27 per cent in fiscal 2022 to 35 per cent in fiscal 2024 and is forecast to reach 38 to 40 per cent in fiscal 2026 and fiscal 2027 India became a preferred global hub for capability centres due to enduring value arbitrage resilient tech infrastructure a deep talent pool and consistent policy support the report noted IANS https://dailyworld.in/business/indias-office-leasing-income-to-grow-10-pc-in-fy27-led-by-itbpm-gccs-650621.html Fri, 28 Nov 2025 01:49:00 +0530 https://dailyworld.in/business/sebi-chief-stresses-need-for-financial-awareness-amid-fake-advisors-fraudulent-apps-650625.html New Delhi Nov 27 The Securities and Exchange Board of India SEBI Chairman Tuhin Kanta Pandey on Thursday urged deeper financial awareness saying misinformation fraudulent trading apps and online persuasion are increasingly influencing household financial choices He stressed that the surge in investor participation and growing digital risks make financial awareness in investors more important Pandey said that investment decisions increasingly begin with forwarded messages viral videos or social media recommendations and âthese moments may appear harmless yet they influence financial choices that can reshape household savings expectations and financial stabilityâPandey cited SEBIâs Investor Survey 2025 showing a gap between awareness and participation 63 per cent of households know about market products but only 95 per cent invest with rural participation at 6 per centMeanwhile unique investors skyrocketed to 136 crore as of October 2025 up from less than 4 crore in fiscal 2019 while mutual fund investors climbed from 1 crore to 56 crore over a decade and monthly systematic investment plan flows climbed from rupees 3000 crore in 2016 to over rupees 29000 croreSEBI has escalated over one lakh cases of misleading online content to platforms such as Meta Google Telegram and X in the last 18 months To combat scams and curb unregistered advisers SEBI has introduced multiple safety features like a Validated UPI handle framework to ensure payments only to verified intermediariesTo combat scams the regulator has also rolled out SEBI Check for bank account verification an account freeze option for investors Spot a Scam tool to help users detect fraudulent schemes and a nationwide SEBI versus SCAM awareness campaignPandey also highlighted structural reforms including direct payout mechanisms an ASBAâlike blocked amount system for secondary markets a secure Demat Debit Pledge framework replacing the power of attorneyOther measures include Digilocker integration to safely store demat and mutual fund holdings simplified nomination and claims processes for digital assets IANS https://dailyworld.in/business/sebi-chief-stresses-need-for-financial-awareness-amid-fake-advisors-fraudulent-apps-650625.html Fri, 28 Nov 2025 01:55:00 +0530 https://dailyworld.in/business/govt-returns-rs-1-887-crore-unclaimed-financial-assets-to-citizens-in-2-months-650628.html New Delhi Nov 27 The Secretary of the Department of Financial Services M Nagaraju said on Thursday that the government has succeeded in returning more than Rs 1887 crore in unclaimed financial assets such as insurance policy claims and bank deposits to their rightful owners under the recently launched Your Money Your Right campaign Addressing a mega camp here along with Delhi Chief Minister Rekha Gupta and Union Minister of State for Finance Pankaj Chaudhary the Secretary Pankaj CHighlighting the progress of the campaign in Delhi Nagaraju said that as of August 31 this year the pending balance under the Deposited Education and Awareness fund related to Delhi is Rs 321084 croreThis indicates that a very large amount is still inaccessible to the citizens of the National Capital This further underscores the need for stronger engagement in Delhi so that families can receive the amount rightfully due to themUnclaimed financial assets such as insurance policy claims bank deposits dividends shares and income from mutual funds often remain unclaimed due to a lack of awareness or outdated account details The mega camp guided citizens on the process of reclaiming their unclaimed assetsHe said From the very beginning we wanted every citizen to easily understand this process The campaign video released at the time of launch is now reaching people across the country in various local languages Along with this detailed booklets containing frequently asked questions and standard operating procedures for all unclaimed financial assets have been prepared in several regional languages and are being widely shared These materials are helping families understand the steps involved and giving them the confidence to navigate the claim processNagaraju informed that the nationwide response has been encouraging Strong participation has been seen in the states across the four phases of the campaignMega districtlevel camps have been organised in 272 districts and the next phase is already underway with 102 additional camps being held tomorrow With this pace and coordination all districts of the country will be covered under the campaignSenior state government officials MPs MLAs and local representatives are actively participating in these camps and motivating citizens to come forwardDelhi Chief Minister Rekha Gupta said that the Government has now taken the responsibility to restore citizens unclaimed assets digitally and through the digital facility under Your Money Your Right which demonstrates that the Governments policy and intent are focused on the delivery of service The Delhi Government will also support this campaign and empower the Finance Ministry to ensure that camps are held under this campaignRekha Gupta appealed to the people of Delhi to check information about their bank accounts fixed deposits policies shares or mutual fund investments and visit these camps to claim their fundsIn his address Union Minister of State for Finance Pankaj Chaudhary said âThe Your Money Your Right campaign is steadily progressing and is being ensured to reach every district of the state within three months from October to December so that no citizen is deprived of their old accumulated capitalâ IANS https://dailyworld.in/business/govt-returns-rs-1-887-crore-unclaimed-financial-assets-to-citizens-in-2-months-650628.html Fri, 28 Nov 2025 02:00:00 +0530 https://dailyworld.in/business/healthcare-industry-calls-for-a-major-boost-in-union-budget-2026-27-650635.html New Delhi Nov 27 The healthcare industry on Thursday urged the government to invest in robust health systems in the upcoming Union Budget 202627 The Association of Healthcare Providers of India AHPI stated that enhancing healthcare funding in the upcoming Union Budget is crucial to address critical gaps in infrastructure skilled workforce and equitable access to affordable healthcare across the countryLast year the government allocated approximately Rs 90658 crore to the Ministry of Health and Family Welfare marking a 125 per cent increase from the previous yearDespite this rise public health expenditure remains below 22 per cent of Indiaâs GDP falling short of the National Health Policy target of 25 per cent and global standards for developing economiesAHPI highlighted that as India faces a rising burden of both communicable and noncommunicable diseases alongside growing demand for specialty and preventive care the next budget must prioritise health system strengthening in rural and underserved areas to ensure universal health coverageâTo secure a healthier future for India it is imperative to invest in robust health systems today We urge the government to substantially enhance healthcare funding in Budget 202627 laying the foundation for worldclass and inclusive care for every citizenâ said Dr Girdhar Gyani Director General AHPIâExpanding infrastructure strengthening the workforce and enabling equitable access to quality services especially in tier 2 and tier 3 cities are critical to meet the evolving healthcare needs of the nationâ he addedNATHEALTH Healthcare Federation of India called for reducing cancer care costs allocating proceeds from healthcare CESS and the proposed 35 per cent GST slab on tobacco and sugar products to strengthen public health programmesIndiaâs healthcare sector is at a defining crossroads presenting both complex challenges and transformative opportunities The upcoming Union Budget offers an unprecedented chance to address systemic gaps such as the acute shortage of medical specialists escalating cancer care costs and inadequate hospital infrastructure to meet the demands of a growing populationâ said Abhay Soi President NATHEALTHâExpanding hospital capacity viable reimbursement frameworks reducing treatment costs and advancing medical education will not only address current challenges but also secure Indiaâs position as a global healthcare leader These efforts will ensure a healthier and more sustainable future for allâ he addedSudarshan Jain Secretary General Indian Pharmaceutical Alliance urged the Union Budget to prioritise innovation ease of doing business and policies that strengthen the life sciences ecosystem IANS https://dailyworld.in/business/healthcare-industry-calls-for-a-major-boost-in-union-budget-2026-27-650635.html Fri, 28 Nov 2025 02:08:00 +0530 https://dailyworld.in/business/govt-extends-financial-support-to-commercialise-indigenous-ev-charger-650657.html New Delhi Nov 27 The Department of Science and Technology has sanctioned financial support to a Himachal Pradeshbased firm to commercialise indigenously designed and manufactured electric vehicle EV chargers it was announced on Thursday The financial support to Electrowaves Electronics aims to reduce dependency on imported charging solutions and accelerate Indiaâs transition to electric transportation according to the statementThe company has developed inâhouse alternating current and direct current fast chargers and key components such as power modules insulation monitoring devices and communication controllers the statement from the Ministry of Science amp Technology saidIts DC fast chargers operate in the 30â240 kilowatt range and the technology stack includes 15 kilowatt kW and 30 kW power converter modules that support 100â1000 volts direct current output and 100 ampere maximum currentThe technology stack also contains a programmable logic controller PLC communication controller and an open charge point protocol communication controller and a universal DC charge controller with a full humanâmachine interface HMI design the statement notedThe company has also engineered AC Type2 chargers suitable for both domestic and public charging use broadening the availability of highefficiency Indiamade EV charging systemsTechnology Development Boards TDB support to the firm is expected to boost the domestic electric mobility ecosystem by scaling production of technologically competitive charging infrastructure enhancing accessibility and supporting Indiaâs goal of netzero emissionsIt also strengthens supply chains within the strategic energy and cleantech sectors supporting Indiaâs global competitiveness in the EV landscape the statement addedRajesh Kumar Pathak Secretary TDB said that such projects enhance energy security reinforce sustainable industrial growth and accelerate the nationâs transition toward clean mobilityThe statement also highlighted TDBâs continued commitment to enabling indigenous technology development promoting Make in India and building strong domestic capabilities in nextgeneration transportation systems IANS https://dailyworld.in/business/govt-extends-financial-support-to-commercialise-indigenous-ev-charger-650657.html Fri, 28 Nov 2025 02:29:00 +0530 https://dailyworld.in/business/coai-welcomes-dpdp-rules-urges-clarity-compliance-measures-650658.html New Delhi Nov 27 The Cellular Operators Association of India COAI on Thursday called the Digital Personal Data Protection Rules 2025 a milestone in operationalising the countryâs data protection framework but sought clarity in several rules and sectorâaligned compliance measures âThe Rules adopt a purposelimited noticeandconsentbasedâbased model with defined reporting timelines broad fiduciary accountability and limited exemptions India now joins other nations having a comprehensive data protection framework that ensures citizens data protection and data rights said Dr SP Kochhar Director General COAIThe industry body also flagged unresolved issues from public consultations including parameters for a security compliance framework age verification methodology for verifiable consent in case of minors and DPIA obligations for Significant Data Fiduciary SDFFurther the association called for clarity in the interpretation of âpurpose limitationâ and âlegitimate useâ operational aspects of multilingual consent breachânotification requirements consentâmanager obligations and harmonisation with sectoral lawsOn security compliance COAI said that the current framework in the telecom sector is highly detailed and resourceintensiveIt urged that the Data Protection Board should adopt a calibrated riskâbased approach consistent with global best practices aligned with established telecomsecurity normsOn the requirement of mandatory notification for data breaches COAI recommends adopting a proportionate reporting model similar to models in Japan and some European Union jurisdictionsFrom a sectoral standpoint mature network and system security controls already deployed by telecom service providers reduce the risk of unauthorised access exfiltration or misuse of personal data the release saidCOAI suggested a practical exemption for minors aged 1618 for SIM acquisition adding that establishing verifiable consent for users aged below 18 years is difficult and does not reflect Indiaâs diverse household structures or the digital autonomy encouraged by the government IANS https://dailyworld.in/business/coai-welcomes-dpdp-rules-urges-clarity-compliance-measures-650658.html Fri, 28 Nov 2025 02:30:00 +0530 https://dailyworld.in/business/telangana-to-be-divided-into-3-zones-to-achieve-vision-2047-650670.html Hyderabad Nov 27 Telangana will be divided into three zones as part of the state governmentâs strategy to achieve the goal of 3 trillion economy by 2047 Chief Minister A Revanth Reddy on Thursday held a review meeting on the Telangana Rising 2047 vision document which is to be unveiled at the Telangana Rising global summit scheduled to be held next monthHe directed the officials to finalise the roadmap to achieve the goal of a 1 trillion economy by 2034 and a 3 trillion economy by 2047To move the state on the development trajectory the Chief Minister ordered the officials to divide the state into three regionsThe development of 3 regions Core Urban Region Economy CURE Peri Urban Region Economy PURE and Rural Agriculture Region Economy RARE will be highlighted in the document and also ensure that there will be no policy paralysis in the state The designs and plans should be finalised reflecting a realistic perspective he saidThe Chief Minister stressed that the Vision 2047 should be prepared with the goal of sustainable future activity for the coming 22 years and provide equal opportunities for allThe government is already developing the Bharat Future City where the global summit will be held on December 8 and 9The summitâs main objective is to showcase the immense investment opportunities in Telangana to the global investors and the benefits of investing in the state during the twoday eventThe summit is being held in the Future City to explain the opportunities for industrial development in different sectors and announce the incentives provided by the government in various formsThe Telangana Rising Vision 2047 document will focus on equitable growth womens empowerment youth empowerment and sustainable development The vision document aims to promote Telangana as the fastestgrowing economic hub in IndiaThe government will showcase to the world the immense opportunities available here even though Telangana is a small state It is moving forward to compete not just with neighbouring states but with China and Japan in development CM Revanth Reddy saidThe government strongly believes that sectors like pharma life sciences aerospace quantum technology artificial intelligence AI startups MSMEs tourism and exports will be key sectors for economic growth in the next two decadesThe transparent governance ease of doing business and global capacity centres GCCs provided by the Telangana government are already making the state the number one destination for investors The vision document is going to be based on these strengths to attract more investmentsThe agriculture sector will also be given priority in the vision document to double the income of farmers and strengthen the rural economyTo achieve the goal of âBlue amp Green Hyderabadâ in the Telangana 2047 document the CM said that the government targets to restore 2959 ponds parks and dwindling forest zonesThe goal of âVillage 20â to provide safe drinking water clean roads and solar power lights in the villages will be accorded priority in the vision documentAnother goal of creation of modern transport infrastructure mainly the development of the Regional Ring Road like âManiharamâ for Telangana on the lines of the Outer Ring Road highspeed mobility corridors Regional Ring Rail four industrial corridors and 11 radial roads new airports in Warangal Nizamabad Adilabad Peddapalli and Kothagudem will be part of the creation of new transport ecosystem A stateoftheart highway from Hyderabad Future City to Bandar Port in Andhra Pradesh will be a gamechanger in connectivityMinisters Komatireddy Venkat Reddy Ponguleti Srinivas Reddy Sridhar Babu Azharuddin Seethakka Chief Secretary Ramakrishna Rao and other high officials were present IANS https://dailyworld.in/business/telangana-to-be-divided-into-3-zones-to-achieve-vision-2047-650670.html Fri, 28 Nov 2025 02:52:00 +0530 https://dailyworld.in/business/india-projected-to-log-7-pc-gdp-growth-in-2025-report-650673.html New Delhi Nov 28 Ahead of Indiaâs Q2 GDP numbers on Friday Moodys Ratings said that the country is projected to clock 7 per cent GDP growth in 2025 and 64 per cent in 2026 due to domestic growth and economic resilience amid global disruptions The country will lead growth among emerging markets and in the Asia Pacific APAC region said the global rating agency India will lead growth among emerging markets and across the region with GDP growing 7 per cent in 2025 and 64 per cent in 2026 according to a note by Moodys RatingsThe average GDP growth in APAC is projected to remain steady at 34 per cent in 2026 compared to expected growth of 36 per cent in 2025According to the rating agency emerging markets will drive GDP growth in the region with average growth of 56 per centIn September Moodys Ratings affirmed Indias longterm local and foreigncurrency issuer ratings and the localcurrency senior unsecured rating at Baa3 The global ratings agency has also maintained its outlook for India as stableThe rating affirmation and stable outlook reflect our view that Indias prevailing credit strengths including its large fastgrowing economy sound external position and stable domestic financing base for ongoing fiscal deficits will be sustained Moodyâs said in its noteThe rating agency has said that the US imposition of high tariffs on India will have limited negative effects on Indias economic growth in the near term However it may constrain potential growth over the medium to long term by hindering Indias ambitions to develop a higher valueadded export manufacturing sector said the rating agencyIndias credit strength is balanced by longstanding weaknesses on the fiscal side which will remain Strong GDP growth and gradual fiscal consolidation will lead to an only very gradual decline in the governments high debt burden and will not be sufficient to materially improve weak debt affordability especially as recent fiscal measures to reinforce private consumption erode the governments revenue base according to the note IANS https://dailyworld.in/business/india-projected-to-log-7-pc-gdp-growth-in-2025-report-650673.html Fri, 28 Nov 2025 13:57:00 +0530 https://dailyworld.in/business/gst-boost-fuels-ac-sales-spike-during-festive-season-report-650678.html New Delhi Nov 28 Room air conditioners saw a sharp surge in demand during the festive season aided by deferred purchases following GST rate cuts a new report said on Friday However the data compiled by BNP Paribas India highlighted that overall demand expected to remain flat in the near termLighting saw healthy improvement in demand over the past few months with continued traction for the premium segment the report saidDemand for cables remained strong while wires demand has picked up with the resumption in construction activities post an extended monsoon it notedCable and wire brands have hiked prices which could aid in better realisation growth in Q3 FY26 the report addedInventory normalisation in white goods category is skewed toward large format retailers at 15â20 per cent above normal versus general trade at 35â40 per centThe channel remains reluctant to stock up in the near term and does not foresee a meaningful demand pickup by end of December 2025 from the BEE rating change although brands are likely to push the oldrated inventoryWe do not expect the Q2 FY26 trend to change materially in the near term and prefer RAC EMS players over brands to play the CY26 summer recovery the report saidNirransh Jain India Analyst â Consumer Durables BNP Paribas India said that in the electrical consumer durables and lighting category dealers stocked winter products and players hiked prices by 3â4 per cent in November 2025 to offset commodity inflationFan demand picked up modestly in the north and the west during the festive period but remained low in the south due to a prolonged monsoon the report saidIn air coolers inventory levels remain elevated 3035 per cent above normal prompting 23 per cent price cuts post summer Lightingproduct prices have stabilised since the last 2 months though dealers remain a bit hesitant to stock up IANS https://dailyworld.in/business/gst-boost-fuels-ac-sales-spike-during-festive-season-report-650678.html Fri, 28 Nov 2025 14:35:00 +0530 https://dailyworld.in/business/gst-reforms-fuel-ac-sales-spike-during-festive-season-report-650679.html New Delhi Nov 28 Room air conditioners saw a sharp surge in demand during the festive season aided by deferred purchases following GST rate cuts a new report said on Friday However the data compiled by BNP Paribas India highlighted that overall demand expected to remain flat in the near termLighting saw healthy improvement in demand over the past few months with continued traction for the premium segment the report saidDemand for cables remained strong while wires demand has picked up with the resumption in construction activities post an extended monsoon it notedCable and wire brands have hiked prices which could aid in better realisation growth in Q3 FY26 the report addedInventory normalisation in white goods category is skewed toward large format retailers at 15â20 per cent above normal versus general trade at 35â40 per centThe channel remains reluctant to stock up in the near term and does not foresee a meaningful demand pickup by end of December 2025 from the BEE rating change although brands are likely to push the oldrated inventoryWe do not expect the Q2 FY26 trend to change materially in the near term and prefer RAC EMS players over brands to play the CY26 summer recovery the report saidNirransh Jain India Analyst â Consumer Durables BNP Paribas India said that in the electrical consumer durables and lighting category dealers stocked winter products and players hiked prices by 3â4 per cent in November 2025 to offset commodity inflationFan demand picked up modestly in the north and the west during the festive period but remained low in the south due to a prolonged monsoon the report saidIn air coolers inventory levels remain elevated 3035 per cent above normal prompting 23 per cent price cuts post summer Lightingproduct prices have stabilised since the last 2 months though dealers remain a bit hesitant to stock up IANS https://dailyworld.in/business/gst-reforms-fuel-ac-sales-spike-during-festive-season-report-650679.html Fri, 28 Nov 2025 14:36:00 +0530 https://dailyworld.in/business/third-party-security-breach-impacts-data-of-some-coindcx-users-funds-safe-650684.html New Delhi Nov 28 Crypto exchange CoinDCX has revealed that in a recent security breach at Mixpanel the thirdparty service provider to the company data of some of its users was impacted Disclosing the fact to its users through an email the crypto exchange clarified that the breach had not directly impacted CoinDCXs infrastructure and that the funds of its users were safeOn November 25 Mixpanel a USbased company informed CoinDCX that some of its data had been compromised following a security incident Following this the Crypto exchange platform communicated to its usersâOn 25th November 2025 they Mixpanel confirmed that some of our CoinDCX usersâ data was accessed CoinDCX said in the mailThe security incident did not specifically affect CoinDCX but rather Mixpanelâs customer base in general the Crypto platform said in the emailMixpanel does not have access to CoinDCXâs infrastructure or user funds it addedEarlier South Koreas largest crypto exchange Upbit suffered a massive hacking attack as a portion of Solanaaffiliated assets worth approximately 54 billion won US369 million was confirmed to have been transferred to an unauthorised wallet address said Oh Kyungseok the chief executive officer of Dunamu reports Yonhap news agencyWe plan to cover the full amount lost with assets from Upbit to ensure no damage occurs to customers assets he addedA notification was issued to customers following a joint press conference held with portal operator Naver and its fintech arm Naver Financial on their mergerThe incident is the largest security breach at Upbit in six years following the illicit transfer of approximately 340000 Ethereum tokens worth 58 billion won to an anonymous account on November 27 2019Meanwhile the central bank raised its 2025 economic growth forecast for South Korea to 1 per cent citing a recovery in private consumption and solid exports IANS https://dailyworld.in/business/third-party-security-breach-impacts-data-of-some-coindcx-users-funds-safe-650684.html Fri, 28 Nov 2025 14:58:00 +0530 https://dailyworld.in/business/india-an-indispensable-partner-in-indo-pacific-australian-envoy-650713.html New Delhi Nov 28 Called India and Australia partners in building a more stable peaceful and prosperous IndoPacific Australias High Commissioner to India Philip Green has reaffirmed that both countries continue to work hard on a shared vision to make Indian Ocean and the IndoPacific stable prosperous and free In his detailed interview with IANS Green said that the ties between India and Australia have never been better and lauded Prime Minister Narendra Modis leadership for taking the dramatic steps forward He also spoke on how the two nations are working together in minerals and other sectorsExcerptsIANS How has the relationship between India and Australia progressed in recent timesAmbassador Green Our bilateral relations have never been better Under the period of the Modi government theres been really dramatic steps forward So I like to think of it this way there are three underlying drivers of our bilateral relationship We have strategic alignment now Australia and India have always been friends but this is now different when were working on a shared vision of what we want our Indian Ocean our IndoPacific to be like stable prosperous and free We have very strong high levels of economic complementarity Indias economy is growing fast and thats of interest to every country in the world but its of special interest to Australia because we produce the sort of things that India needs for the next phase of its economic growth whether thats energy minerals or metals or skills and training We dont compete much with India And then the third thing that is really driving our relations is the socalled human bridge Now a million people of Indian origin make Australia home and thats adding a very strong personal dimension to our relationsIANS Which areas of cooperation are the top priorities for both countries in the next couple of yearsAmbassador Green Well theres a few things that were focusing hard on Leaders last year set us some homework and said that we should update our longstanding defence and security statement and so we are doing that right now We are building a new maritime security roadmap so that in this very important sphere that we are working closely together On economics we have an AustraliaIndia economic roadmap which is identifying where we think the big opportunities are in our sectors and of course our trade ministers are working quite closely together on a second phase of our free trade agreement that we call CECA So across all of these domains and many more including education and tech critical minerals we have some big future hurdles to crossIANS How is Australia supporting India in strengthening its role in the IndoPacific regionAmbassador Green Australia and India are very close partners in the IndoPacific As I said we share a vision about a stable and prosperous IndoPacific that we want to equally work together and build So what does that mean It means that we support each other when we seek to bring new development capabilities to our region whether thats in the Pacific Islands where Australia is quite active but where India is now providing new development support for the countries of the Pacific whether its in fields like maritime domain awareness where our navies and customs and border forces can work together we are doing that Whether its in trying to strengthen regional institutions like ASEAN which we are both members of and IORA the Indian Ocean Regional Organisation that were both members on So across a wide range of fields Australia and India are partners in trying to build a more stable a more peaceful and a more prosperous IndoPacificIANS Are there plans to extend cooperation in sectors like technology minerals and energyAmbassador Green Yes there are So let me take those in reverse order In energy we already have a very strong renewable energy partnership and the foundation stone of that is the work that we are doing to build a skills academy for the solar workforce that India needs Weve listened carefully to Prime Minister Modis ambition of 10 million solar rooftops My country is the country with the highest deployment per capita of solar rooftops in world So what are we doing about that We are together putting together an academy in Gandhinagar which will be able to train more than 2000 people mostly young people mostly women in the technologies that they need to deploy solar rooftops In terms of tech this is a huge field of capability Australia is a country with a high level of innovation and ingenuity but we dont have a large population and we are not so closely connected to global supply chains in tech in the way that India is So what we want to do is connect Australian tech ingenuity with Indian global capability and reach and were doing that through firms like Infosys And on minerals we are already deeply into a partnership between our critical minerals office and the Ministry of Mines here What were seeking to do is to create a direct supply chain in critical minerals like lithium which India needs Youre to have big demands for batteries and EE vehicles where we produce more than 50 per cent of the worlds lithium But we want to develop and including with the processing piece a direct supply chain in lithium or cobalt or whatever Were in deep discussions about how we achieve thatIANS Are there new scholarship opportunities or an academic collaboration planAmbassador Green Theres a lot So many Australian universities have scholarship offerings for Indian students And what is new is the Australian government as a government is now providing around 15 scholarship to students at the PhD level This is particularly focused in STEM so science and technology is very much foregrounded here We want to strengthen our partnership in that field and these scholarships are a way that really highlevel scholars in India can study in Australia and upgrade their skillsIANS What steps is Australia taking to ensure the safety and welfare of Indian studentsAmbassador Green Well we worked very hard on this As you may know Australia is one of the safest countries on Earth and we are proud of that We want all visitors to our country be they Indian or be they from other countries indeed our own people to be safe and we have a very strong and effective police force a border force and a very effective security intelligence agencies We also want to make sure that Indian visitors to our country feel welcome Now like in many countries in Australia there have been protests rather loud small numbers of people who are protesting against immigration and against multiculturalism What I want you and your viewers to know is that our government has very clearly come out and said that we stand for continued migration into Australia in a way that is sustainable and we very much stand for a multicultural Australia in which people wherever they come from the world feel safe and welcome and are indeed celebrated in our societyIANS How has Prime Minister Modi transformed India on world stageAmbassador Green Look India is a leading power in the world and that has been very much underlined and accentuated by Prime Minister Modi I arrived here two years ago in the middle of the G20 Summit and all I can tell you is that that was a powerful demonstration of Indias arrival as a global player Not only was there a G20 which was full of new outcomes in all sorts of important fields like tech and culture and science But your country was the country that was able to bring all the big states of the world together in a single document that even dealt with the most complex geostrategic issues including the invasion of Ukraine by Russia So thats just one example but when I see Prime Minister Modi going to Australia speaking to the large diaspora community in Australia promoting India giving everybody a sense of Indias great future in the world I think its really been quite a remarkable transformationIANS Has India under the leadership of Prime Minister Modi emerged as a world powerAmbassador Green Definitely Look most populous country on earth now the fastest growing large economy in the world a country that is engaging on some of the worlds toughest issues and making headway A country that for Australia is an indispensable partner in the IndoPacific These are ways in which India is making its presence felt in a very positive way in global affairsIANS In a region that is being reshaped by strategic and economic shifts how does Australia analyse its partnership with India evolving under the QuadAmbassador Green So we present ourselves as a country which is reliable and steadfast and seeking to build peace and prosperity and stability in our region So how do we do that We do that by always looking for diplomatic and dialogue as a way of overcoming problems in our region We provide development assistance to our region which helps the smaller economies grow We work with countries like India in forums like ASEAN and the Indian Ocean Regional Association and in the Pacific Islands Forum in Australia because we want to strengthen the voices of small and mediumsized powers and multilateralism is a way of achieving that Fundamentally what a country like Australia is trying to do is to strengthen the sovereignty of small and mediumsized nations and make sure that as we are in a world where big power realities are a bit more stark that the interests of small and mediumsized nations are fully taken into account and we find India a very valuable partner in that journeyIANS What is the Australia vision for ensuring stability in the IndoPacificAmbassador Green Look we live in a world of deeper superpower contestation and we have to deal with that in the ways of protecting our own security But we also want to underline the interests of small and mediumsized nations make sure that sovereignty is fully taken into account and use regional institutions as a way of ensuring that the rulesbased framework freedom of navigation rules on trade remain strong because its only in a world and in a region where the rulesbased frameworks are in clear distinct clarity that you will be able to ensure that the interests of small and mediumsized nations are properly protectedIANS How is Australia working with India to counter emerging global security challenges including cybersecurity maritime security etcAmbassador Green So weve had for some time a cyber dialogue between Australia and India We cooperate very closely in how each of us experiences cyber attacks and how we respond to them I think we could do even more on that in the future but already our agencies are very closely hooked up and our ambassador for cyber and tech affairs made a very powerful visit here earlier this year On counterterrorism Australia and India stand together against terrorism in all its forms in all of the relevant regional and international bodies to make sure that scourge is lessened to the greatest degree we all have to remain vigilant And then theres other fields on which cooperation is very important so counter people smuggling counter trafficking counter narcotics These are important fields where there is daytoday collaboration going on between Australian agencies and Indian agencies which is very important to usIANS How can both nations collaborate on renewable energy technology like green hydrogen and solar powerAmbassador Green Theres a lot of ways as I said before our principal effort in this at the moment is to ensure that India is best placed to develop Prime Minister Modis ambition of 10 million solar rooftops and we are helping train the workforce for that But Australia is a country that has a lot of expertise in these fields I think you may know that all of the modern technology for solar rooftops has the PERC technology in it which was pioneered in the University of New South Wales in my hometown Sydney and we have as many international patents in the field of renewable energy as for instance a global tech major like Germany has So we want to bring some of the best of that tech to India IANS https://dailyworld.in/business/india-an-indispensable-partner-in-indo-pacific-australian-envoy-650713.html Fri, 28 Nov 2025 15:41:00 +0530 https://dailyworld.in/business/sensex-nifty-end-flat-as-investors-await-q2-gdp-data-650722.html Mumbai Nov 28 Indian stock markets closed on a flat note on Friday as mixed global cues kept investor sentiment in check After a day of rangebound trading both the Sensex and Nifty ended slightly lowerThe Sensex closed at 8570667 slipping 1371 points or 002 per cent while the Nifty settled at 2620295 down 126 points or 005 per centNifty faced strong resistance near the 26281 zone and stayed rangebound throughout the session between 26190 and 26281âAs long as the crucial support belt at 26150â26000 remains intact the broader trend stays stable Immediate resistance is firmly placed at 26280â26310â experts saidâOn the daily chart the index continues to hover near this band indicating a clearly defined range between 26150 and 26310 unless a decisive breakout emerges on either sideâ they addedAmong the top performers on the Sensex were Hindustan Unilever HUL Sun Pharma Mahindra amp Mahindra MampM and Kotak Mahindra Bank which helped limit the downsideOn the other hand Power Grid Bharti Airtel Eternal and Infosys were the major laggards and weighed on the indicesSectorwise the market saw a mixed trend Nifty IT Realty and Oil amp Gas indices slipped 011 per cent 019 per cent and 069 per cent respectivelyMeanwhile buying interest pushed Nifty Auto higher by 062 per cent and Nifty Pharma gained 059 per centIn the broader markets the Nifty Midcap 100 fell 011 per cent while the Nifty Smallcap 100 declined 027 per cent reflecting mild weakness beyond the largecap spaceAnalysts said that market sentiment stayed constructive aided by easing US bond yields and consistent buying from domestic institutional investorsâHowever volatility in the rupee and intermittent profitbooking in select PSU and private bank counters kept traders slightly cautiousâ market watchers said IANS https://dailyworld.in/business/sensex-nifty-end-flat-as-investors-await-q2-gdp-data-650722.html Fri, 28 Nov 2025 16:38:00 +0530 https://dailyworld.in/business/develop-internationally-competitive-tea-varieties-piyush-goyal-urges-industry-650727.html New Delhi Nov 28 IANS India which continues to be globally recognised for iconic teas such as Darjeeling Assam and Nilgiri needs to develop a wider catalogue of internationally marketable varieties Commerce and Industry Minister Piyush Goyal said on FridaynbspIndia is among the worlds largest tea producers and exporters with nearly 255 million tonnes exported annuallynbspAddressing the Sankalp Foundations National Conference on Safe Tea Production here he underlined that India must move beyond its traditional strengths and focus on creating new signature blends that resonate with changing consumer tastes emerging wellness trends and premium lifestyle markets worldwidenbspThe minister emphasised that sustainable practices responsible labour standards and continuous innovation are essential to maintaining highquality tea and low Manufacturing Readiness Levels MRLnbspGoyal also urged researchers and scientists to leverage Indias diverse agroclimatic strengths to develop innovative varieties and highvalue products that can unlock new export opportunitiesnbspnbspSuch innovationdriven value addition he said would not only enhance Indias global footprint but also enable farmers particularly small growers to secure better returnsnbspThe Minister stressed that sustained research experimentation and product development will be key to ensuring that Indian tea remains competitive distinctive and futureready in an increasingly dynamic global tea industrynbspHe also underscored the importance of safeguarding this key industry which plays an integral role in Indias hospitality and trade culture and added that deliberations held during the conference would provide valuable inputs to the Ministry and the Tea Board to further strengthen the sectorWhile the government remains committed to improving the lives of tea growers inputs suggestions and guidance from stakeholders researchers and industry players are invaluable in shaping effective policies He highlighted the governments Rs 1000crore package aimed at supporting tea growers and workers along with initiatives such as the Chai Sahayog App which enables small growers to realise better prices for their producenbspGoyal encouraged the wider adoption of innovative and sustainable farming practices noting that methods such as drip irrigation can significantly improve water efficiency and overall productivity for growersnbsp https://dailyworld.in/business/develop-internationally-competitive-tea-varieties-piyush-goyal-urges-industry-650727.html Fri, 28 Nov 2025 17:21:00 +0530 https://dailyworld.in/business/indian-economy-grows-82-in-q2-2025-26-650728.html New Delhi Nov 28 IANS Economists on Friday hailed the 82 per cent gross domestic product GDP growth for the second quarter Q2 FY26 a sixquarter high as it surpassed estimates for the second consecutive time amid global headwinds and tariff concernsnbspFor the second consecutive quarter Indias GDP growth significantly surpassed expectations printing at a sixquarter high of 82 per cent in Q2 FY2026 and displaying an acceleration over the 78 per cent growth seen in Q1 FY2026 in contrast to the widespread market expectation of some moderation said Aditi Nayar Chief Economist ICRAThe upside surprise in the Q2 GDP growth print was driven by services even as the agriculture and industrial sectors largely reported prints along expected linesnbspThe 97 per cent surge in the public administration defence and other services segment in Q2 FY26 was quite surprising said analystsnbspMadhavi Arora Chief Economist Emkay Global Financial Services emphasised that the resilient data was led by monetary and regulatory easing and a limited impact of trade restrictions imposed by the US administration on Indian exportsGrowth has exceeded expectations dramatically to 82 per cent led by statistically favourable deflator effects lagged effects of monetary and regulatory easing and limited hit so far on Indias exports Arora explainednbspSome of these factors will spill onto the third quarter as well along with improvement in consumer demand leading to FY26E GDP comfortably hugging 7 per cent print she addednbspData released from the Ministry of Statistics showed that GDP growth accelerated to a robust 82 per cent in the JulySeptember period of the current financial year compared to the corresponding figure of 56 per cent during the same quarter of FY 202425The secondary and tertiary sectors with growth rates of 81 per cent and 92 per cent respectively have boosted the real GDP growth rate in Q2 of FY 202526 to rise above 8 per cent an official statement saidnbspThe manufacturing sector clocked a strong growth rate of 91 per cent while the construction segment grew at 72 per cent in the secondary sector during the quarternbspMahendra Patil Founder and Managing Partner MP Financial Advisory Services said that Indias Q2 GDP growth clearly reaffirms the economys strong underlying momentum despite global uncertaintiesThe sharp pickup in manufacturing at 91 per cent and the continued resilience in financial and professional services at 102 per cent highlight that Indias growth engines are broadbased and structurally improving What stands out is that private consumption has strengthened to 79 per cent indicating healthier demand conditions Overall this print reinforces confidence that India remains firmly on a highgrowth trajectory supported by robust domestic fundamentals and sustained investment activity Patil mentioned https://dailyworld.in/business/indian-economy-grows-82-in-q2-2025-26-650728.html Fri, 28 Nov 2025 17:44:00 +0530