DailyWorld News - The First International Newspaper From India https://dailyworld.in/ Thu, 13 Nov 2025 17:08:32 +0530 en https://dailyworld.in/business/smartphone-sales-surge-this-diwali-driven-by-gst-cuts-and-new-launches-shopkeepers-648168.html ChandigarhAhmedabad Nov 12 Smartphone sales across India witnessed a strong upswing this Diwali season with retailers crediting improved consumer sentiment lower GST impact on overall spending and new product launches for the boost shopkeepers said on Wednesday According to them this years festival season has brought betterthanexpected sales particularly in the midrange and premium smartphone segmentsAnil Dhingra a mobile shop owner in Chandigarh said that despite no change in the GST rate on mobile phones reduced taxes on other products have enhanced peoples purchasing powerSales have been better than expected this Diwali The launch of the iPhone 17 series has created a big buzz leading to a 40 per cent rise in iPhone sales Smartphones in the Rs 25000Rs 40000 range have also performed well Dhingra told IANSAnother retailer Amandeep Singh echoed similar sentiments noting that lower GST and attractive offers by companies have encouraged customers to upgradeAndroid phones priced between Rs 9000 and Rs 36000 have seen solid demand iPhone sales have also remained strong due to the new launch and I believe over five million iPhone units have been sold across India this season he saidIn Ahmedabad shopkeeper Yashwant reported strong demand for Android smartphones Phones priced above Rs 15000 sold well this Diwali While iPhone sales have grown compared to last year Android remains the top choice for budgetconscious buyers he addedWith festive discounts easy financing options and heightened consumer enthusiasm retailers expect the positive momentum in smartphone sales to continue through the yearend seasonThe smartphone market in India reached a fiveyear high in the festive third quarter of 2025 Q3 growing 43 per cent yearoveryear YoY to 48 million units according to the International Data Corporation IDC data released this week Apple recorded its highestever quarterly shipments in India in the third quarter of 2025 Q3 2025 reaching 5 million units and securing the fourth position in the market for the first time IANS https://dailyworld.in/business/smartphone-sales-surge-this-diwali-driven-by-gst-cuts-and-new-launches-shopkeepers-648168.html Thu, 13 Nov 2025 00:17:00 +0530 https://dailyworld.in/business/indias-warehousing-and-logistics-absorption-rebounds-64-pc-in-july-september-648183.html New Delhi Nov 13 Indias warehousing and logistics sector rebounded by 64 per cent sequentially in Q3 2025 JulySeptember with absorption of 92 million square feet a report said on Thursday Mumbai contributed the highest to panIndia absorption accounting for about 47 per cent of absorption or 429 million sq ft with a sharp quarteronquarter rise of 377 per cent and a 10 per cent increase yearonyear said the report from workplace solutions firm VestianThe firm however maintained that despite this robust growth national level absorption was 36 per cent lower compared with the record level reported in the same quarter a year earlierRenewed occupier demand in Mumbais micromarkets Bhiwandi and Panvel which together accounted for nearly 96 per cent of total absorption drove the citys recovery the report notedAfter a subdued previous quarter the warehousing and logistics sector has shown clear signs of revival in Q3 2025 with Mumbai Kolkata and NCR leading absorption said Shrinivas Rao FRICS CEO VestianThe resurgence in occupier demand across key micromarkets coupled with renewed momentum in the Ecommerce and 3PL segments underscored the sectors growing depth and diversificationAs occupiers focus on network optimization and gradeA assets Indias warehousing and logistics landscape is reshaping for a stronger performance in the upcoming quarters Rao saidNCR followed Mumbai as the secondlargest market with 128 million sq ft up 83 per cent QoQ while Chennai recorded 113 million square ft its highest leasing level in seven quarters up 151 per cent sequentially and 38 per cent YoYKolkata posted its highest ever quarterly absorption at 126 million sq ft up 950 per cent over the previous quarter and by 186 per cent compared to Q3 2024 IANS https://dailyworld.in/business/indias-warehousing-and-logistics-absorption-rebounds-64-pc-in-july-september-648183.html Thu, 13 Nov 2025 13:05:00 +0530 https://dailyworld.in/business/need-8-million-jobs-annually-to-reap-demographic-advantage-ai-to-supplement-cea-nageswaran-648184.html New Delhi Nov 13 IANS India must create nearly 8 million jobs annually over the next 1015 years to capitalise on its demographic dividend which will only last until then Chief Economic Adviser CEA V Anantha Nageswaran has saidnbspAt a webinar cohosted by Indian Council for Research on International Economic Relations ICRIER and Prosus at their Centre for Internet and Digital Economy CEA Nageswaran highlighted that artificial intelligence AI should enhance rather than replace human work particularly in healthcare and educationIn these sectors frontline professionals can be supported to deliver quality services at scale especially in remote and underserved regions he saidnbspNageswaran also pointed out that India currently has limited computing and GPU capacity available in the United States and China affecting the countrys ability to train and develop largescale AI models domesticallynbspHe noted that recent reductions in AI subscription pricing by global platforms such as monthly plans now being offered at the cost of a single lowfee annual subscription will accelerate user adoption but also increase the volume of Indian data being captured by foreign AI systemsCEA pointed out that when users increasingly upload files and documents rather than text prompts the amount of granular and sensitive data generated from India is expected to rise making data ownership and data sovereignty a central policy question going forwardnbspThe event also featured Nobel laureate Professor Daron Acemoglu and focused on how Artificial Intelligence AI can be directed to support workforce development productivity and improved service delivery in IndiaAcemoglu argued AI tools that assist technicians nurses and educators will boost economic participation and productivity but AI that prioritises labour replacement could create economic pressures for countries with middleskilled workforcesnbspPramod Bhasin Chairperson ICRIER expressed happiness in renewing partnership with Prosus on building a Centre of Excellence on Indias digital economySehraj Singh Managing Director Prosus India added that by combining ICRIERs research excellence with Prosuss experience in innovationled entrepreneurship we aim to create actionable insights that guide inclusive and responsible digital transformation https://dailyworld.in/business/need-8-million-jobs-annually-to-reap-demographic-advantage-ai-to-supplement-cea-nageswaran-648184.html Thu, 13 Nov 2025 14:54:00 +0530 https://dailyworld.in/business/sensex-nifty-open-in-green-over-us-india-trade-talks-bihar-exit-polls-648138.html Mumbai Nov 12 The Indian benchmark indices opened in green zone on Wednesday amid reports of an imminent IndiaUS trade deal and exit polls in Bihar predicting decisive majority for NDA As of 925 am Sensex advanced 496 points or 059 per cent at 84367 and Nifty inched up 147 points or 058 per cent to 25842The broadcap indices performed in line with the benchmarks with the Nifty Midcap 100 up 055 per cent and the Nifty Smallcap 100 adding 061 per centMax Healthcare and Tech Mahindra were among the major gainers in the Nifty Pack while losers included Maruti Suzuki and TrentAll sectoral indices were trading in green except Nifty FMCG mixed with most of them trading with mild negative bias Nifty IT and Nifty Oil and Gas were the standout gainers up 126 per cent and 095 per centWith reports of an imminent IndiaUS trade deal and exit polls showing the NDA winning Bihar sentiments have improved This will strengthen bulls but not enough to give markets a decisive breakout and sustained rally said market watchersBased on current trends FIIs may sell again at higher levels till the AI trade continues they addedFrom the fundamental perspective there is room for optimism since GDP growth is robust and earnings growth for FY27 appears bright Financials consumption and defence stocks have the potential to lead the next leg of the rallyMost of the AsiaPacific markets rose in early trading sessions after Wall Street traded mixed on hopes that the US government shutdown could be nearing an end even as AI stocks struggledThe US markets ended mixed overnight as Nasdaq slipped 03 per cent the SampP 500 added 018 per cent and the Dow inched up 12 per centIn Asian markets Chinas Shanghai index dipped 023 per cent and Shenzhen dipped 1 per cent Japans Nikkei dipped 021 per cent while Hong Kongs Hang Seng Index advanced 056 per cent South Koreas Kospi jumped 084 per centOn Monday foreign institutional investors FIIs sold equities worth Rs 803 crore while domestic institutional investors DIIs were net buyers of equities worth Rs 2188 crore IANS https://dailyworld.in/business/sensex-nifty-open-in-green-over-us-india-trade-talks-bihar-exit-polls-648138.html Wed, 12 Nov 2025 10:01:00 +0530 https://dailyworld.in/business/tata-motors-commercial-vehicle-arm-debuts-at-28-pc-premium-shares-fall-over-3-pc-post-listing-648143.html Mumbai Nov 12 The shares of Tata Motors commercial vehicle business made a strong debut on the stock exchanges on Wednesday listing at Rs 335 per share on NSE up 28 per cent over the discovered price of Rs 26075 On the BSE the shares were listed at Rs 33025 a premium of 26 per cent from their earlier valuation of Rs 26190 per shareHowever postlisting the shares which will now officially be known as Tata Motors Ltd fell by around 35 per cent from the listing price to a low of Rs 32260 on the NSEAt around 1135 am the stock was trading at Rs 32865 down 190 per cent from the listing price on NSE Meanwhile shares of Tata Motors Passenger Vehicle were trading at Rs 40475 down 069 per centThe listing marks the completion of the demerger of Tata Motors commercial vehicle and passenger vehicle businesses a strategic move aimed at enhancing business focus and unlocking value for shareholdersThe company had fixed October 14 as the record date to determine the eligibility of shareholders entitled to receive shares in the newly demerged commercial vehicle entity The demerger officially took effect on October 1Following the split the passenger vehicle division was renamed Tata Motors Passenger Vehicles Ltd TMPVL while the commercial vehicle entity retained the Tata Motors name TMLThe board of Tata Motors had approved the 11 demerger in August 2024 creating two independent listed entitiesTata Motors Commercial Vehicles TMCV and Tata Motors Passenger Vehicles TMPVThe move is intended to sharpen strategic priorities strengthen operational agility and capitalise on future growth opportunities across both verticals IANS https://dailyworld.in/business/tata-motors-commercial-vehicle-arm-debuts-at-28-pc-premium-shares-fall-over-3-pc-post-listing-648143.html Wed, 12 Nov 2025 12:16:00 +0530 https://dailyworld.in/business/indias-cement-industry-poised-to-expand-by-170-million-tonnes-in-next-3-fiscals-648147.html Mumbai Nov 12 Indias cement industry is poised for an expansion spree with grinding capacity of 160170 million tonnes MT expected to be added between financial years 2026 and 2028 up sharply compared with the 95 MT added in the past three financial years This is primarily fuelled by a healthy demand outlook and high capacity utilisation according to a Crisil report released on Wednesday While this will entail substantial capital expenditure capex of around Rs 12 lakh crore in three years which is around 50 per cent higher compared with the previous three fiscals predominantly to fund the capacity additions The risks associated will be lower because a sizeable proportion is brownfield and most of the expansion will be funded from healthy operating cash flowsConsequently the financial leverage of cement makers as measured by the net debt to earnings before interest taxes depreciation and amortisation Ebitda ratio will be steady and keep credit profiles stable the report statesThe report is based on an analysis of 17 cement makers accounting for around 85 per cent of the 668 MT installed capacity as on March 31 2025In the past three financial years cement saw robust demand with volume clocking a compound annual growth rate CAGR of 95 per cent driven by key segments such as infrastructure and housing As a result capacity utilisation increased to around 70 per cent last fiscal compared with a decadal average of 65 per centCrisil Ratings director Anand Kulkarni said that over fiscals 20262028 the cement makers are expected to see healthy incremental demand of 3040 MT annually prompting a strong growth in capacitiesThe distribution of incremental capacities may not be linear though For instance this fiscal is likely to see commissioning of 7075 MT which could moderate capacity utilisation in the near term All the same over the three fiscals demand is expected to be commensurate with supply addition bringing utilisation back to around 70 per cent he mentionedAccording to the report while capacity addition is sizeable the associated risks are partly mitigated by the fact that about 65 per cent of the addition will be undertaken via brownfield projects which entail a shorter construction period and limited land acquisition requirement resulting in lower capital cost and fewer implementation challengesAdditionally twothirds of the incremental capacity will be in the form of split grinding units which are separate cement grinding plants located away from the main clinker production facility The grinding units typically have lower complexity compared with clinker plants resulting in lower capex and shorter gestation periods of 12 years compared with 34 years for integrated cement plants This provides early access to market as well as a reduction in lead distance and freight cost due to proximity to consumption regions thereby resulting in faster paybacks the report added IANS https://dailyworld.in/business/indias-cement-industry-poised-to-expand-by-170-million-tonnes-in-next-3-fiscals-648147.html Wed, 12 Nov 2025 14:15:00 +0530 https://dailyworld.in/business/india-inflation-expected-at-21-pc-in-fy26-rbi-rate-cut-likely-648151.html New Delhi Nov 12 The average inflation for the current financial year FY26 is expected at 21 per cent due to subdued food inflation and contained demand pressures a report said on Wednesday From a monetary policy perspective if growth weakens in H2 FY26 the latest inflation readings could create scope for a rate cut CareEdge Ratings said in its reportThe ratings agency maintained its FY26end USDINR forecast at 8587 due to a softer dollar a firm yuan a manageable current account deficit CAD and expectations around the USIndia trade dealThe report also projected that global trade volumes will grow at about 29 per cent on average in 202526It also cited IMF estimates that Indias exports of goods and services can moderate to roughly 16 per cent of GDP by 2030 from 21 per cent currentlyThe report noted that the 2025 global growth forecast was raised by 20 basis points amid trade frontloading and gradual adaptation to trade tensionsOverall risks to growth remain tilted to the downside amid continued uncertainty and rising protectionismIndias nonpetroleum exports rose 7 per cent in H1 FY26 though petroleum exports weighed on the overall export growth Imports grew a modest 45 per cent in H1FY26 led by nonpetroleum goodsIndias exports to the United States rose by 13 per cent in H1 FY26 it said adding that the US remains the largest export destination for merchandise goods accounting for nearly 20 per cent share in Indias total exportsAmongst Indias major exports to the US exports of all commodities except electronic goods and petroleum products witnessed a contraction in September the report mentioned IANS https://dailyworld.in/business/india-inflation-expected-at-21-pc-in-fy26-rbi-rate-cut-likely-648151.html Wed, 12 Nov 2025 15:01:00 +0530 https://dailyworld.in/business/piyush-goyal-saudi-investment-minister-discuss-ways-to-deepen-economic-trade-ties-648152.html New Delhi Nov 12 IANS Commerce and Industry Minister Piyush Goyal on Wednesday met Saudi Arabias Investment Minister Khalid Al Falih and discussed ways to further deepen economic and trade ties between the two nationsnbspThe discussions centred around advancing trade and investment in tech energy infrastructure and startups among other sectorsnbspIt was a pleasure to meet Saudi Arabias Minister of Investment KhalidAlFalih along with his delegation We discussed ways to further deepen IndiaSaudi Arabia economic ties advancing trade and investment in tech energy infrastructure and startups among other sectors Goyal said in a post on X social media platformCommerce Minister further said that our partnership continues to grow stronger built on mutual trust and shared prosperitynbspBilateral trade between the two countries reached 4188 billion in 202425 with chemicals and petrochemicals contributing 10 per cent which is nearly 45 billionnbspLast month Goyal attended the 7th edition of Future Investment Initiative FII meet in Riyadh where he met several dignitaries from the host country including Saudi Arabian Energy Minister Prince Abdul Aziz Bin Salman AlSaud Commerce Minister Majid bin Abdullah AlKassabi and Investment Minister Khalid Al FalihHe addressed the 7th Edition of FII in one of the plenary sessions titled The Coming Investment Mandate He also cochaired a conclave session on the theme From Risk to Opportunity Strategies for Emerging Economies in the New Industrial Policy Era along with the Saudi Investment MinisternbspThis was followed by a bilateral meeting where the two ministers deliberated expansion of investment across diverse sectors to foster economic growth and further enhance strategic partnership between the two countriesSaudi Arabia is one of Indias most important strategic partners The level of cooperation between the two countries can also be witnessed with the establishment of IndiaSaudi Arabia Strategic Partnership Council SPCnbspIndia and Saudi Arabia have also decided to enhance bilateral cooperation in the chemicals and petrochemicals sector promoting investments and exploring new areas of collaboration https://dailyworld.in/business/piyush-goyal-saudi-investment-minister-discuss-ways-to-deepen-economic-trade-ties-648152.html Wed, 12 Nov 2025 15:07:00 +0530 https://dailyworld.in/business/green-hydrogen-poised-to-emerge-as-clean-scalable-fuel-in-india-648156.html New Delhi Nov 12 Indias National Green Hydrogen Mission is expected to create about 125 GW of new renewable energy capacity dedicated to green hydrogen production along with investments exceeding Rs 8 lakh crore The Mission is also expected to create over 6 lakh jobs reduce fossil fuel imports by more than Rs 1 lakh crore and avoid nearly 50 MMT of greenhouse gas emissions every year by 2030 according to an official statement issued on WednesdayIndias energy transition is entering a decisive phase as the country reduces its dependence on fossil fuels and increases domestic clean energy production This is in line with its vision of becoming a developed nation by 2047 and achieving Net Zero by 2070 In this transition green hydrogen is poised to emerge as a clean scalable fuel alternative that can decarbonise hardtoabate sectors reduce import dependence on fossil fuels and support Indias goals for energy security and industrial growth the statement saidThe statement comes against the backdrop of the UN conference on climate change COP30 that kicked off in Brazil on Wednesday Discussions at the conference are expected to focus on forest protection climate finance and advancing global efforts to cut emissions and strengthen resilienceGreen hydrogen is produced using renewable energy such as solar or wind power instead of fossil fuels In this process water is split into hydrogen and oxygen through electrolysis using electricity from solar panels or wind turbines As of May this year 19 companies have been allocated a cumulative annual production capacity of 862000 tonnes of green hydrogen every year and 15 firms have been awarded a 3000 MW annual electrolyser manufacturing capacity India has also launched a pilot project for green hydrogen in the steel mobility and shipping sectors the statement saidThe National Green Hydrogen Mission launched in January 2023 has an initial outlay of Rs 19744 crore till the financial year 202930 This includes Rs 17490 crore for the Strategic Interventions for Green Hydrogen Transition SIGHT programme Rs 1466 crore for pilot projects Rs 400 crore for research and development RampD and Rs 388 crore towards other mission componentsThe Mission focuses on four key pillars including policy and regulatory framework demand creation research and development amp innovation and enabling infrastructure and ecosystem development aimed at positioning India as a global hub for green hydrogen production use and exportTo augment the Missions vision the government has also launched multiple schemes to accelerate production and use of green hydrogen promote domestic manufacturing and exports ensure regulatory compliance and strengthen publicprivate partnershipsIn October 2025 the Ministry of New and Renewable Energy MNRE announced the recognition of three major ports the Deendayal Port Authority Gujarat VO Chidambaranar Port Authority Tamil Nadu and Paradip Port Authority Odisha as Green Hydrogen Hubs under the NGHM These coastal gateways will serve as integrated centres for production consumption and future exportThe Green Hydrogen Certification Scheme of India GHCI was also launched in April 2025 to provide a national framework to certify hydrogen as green by assessing its greenhouse gas emissions across the entire production cycle The scheme ensures that only hydrogen produced using renewable energy and within the prescribed emission limits can be officially labelled as green hydrogen It provides transparency traceability and credibility for producers buyers and export marketsA dedicated Rs 400 crore RampD scheme under the Mission is already powering 23 cuttingedge projects across areas such as hydrogen production safety systems storage and industrial applications In addition a Rs 100 crore Call for Proposals has been launched to support startups working on innovative technologies for hydrogen production storage transport and utilisation with funding of up to Rs 5 crore per project These initiatives are aimed at developing globally competitive technologies and reducing costs across the hydrogen value chain the statement added IANS https://dailyworld.in/business/green-hydrogen-poised-to-emerge-as-clean-scalable-fuel-in-india-648156.html Wed, 12 Nov 2025 16:30:00 +0530 https://dailyworld.in/business/indias-deal-activity-hits-168-billion-in-october-ipo-listings-peak-648158.html New Delhi Nov 12 India recorded deals worth 168 billion in the month of October across merger and acquisitions MampA private equity initial public offerings IPOs and qualified institutional placements QIPs according to a report on Wednesday The country recorded 189 deals worth 106 billion across MampA and private equity PE reflecting a 13 per cent decline in volumes while values surged 63 per cent monthonmonth according to a Grant Thornton Bharat reportThe surge was propelled by three billiondollar transactions totalling 59 billion and 11 highvalue deals worth 31 billion together accounting for nearly 85 per cent of total deal valueIncluding public market activity the total deal count rose to 218 transactions worth 168 billion marking a 134 per cent jump in overall value despite a 6 per cent dip in volumes compared to September 2025 the report mentionedBanking and Financial Services headlined October deal activity with the largest banking crossborder MampA deal the biggest foreign investment in an Indian NBFC and a 1billiondollar listing of NBFC said Shanthi Vijetha Partner Growth Grant Thornton BharatIPO listings peaked in October with 24 issues including 2 billiondollar listingsWe expect sustained deal momentum across sectors supported by highvalue strategic transactions resilient private capital flows and vibrant public market participation Vijetha addedIn the MampA landscape the month saw 69 deals valued at 7 billion with volumes almost doubling even as volumes declined 23 per cent month on month reaching the thirdlowest level of volumes in the yearMeanwhile the private equity PE landscape remained resilient recording 120 deals worth 36 billion reflecting a 21 per cent increase in values and a 6 per cent decline in volumes over SeptemberAt the same time in the IPO and QIPs segment public market fundraising hit a new peak in the month with 24 IPOs raising 51 billion and 5 QIPs adding another 11 billion taking total public market proceeds beyond 62 billionThe IPO activity marked the highest monthly performance of 2025 led by Tata Capital and LG Electronics both surpassing the 1 billion threshold the report noted IANS https://dailyworld.in/business/indias-deal-activity-hits-168-billion-in-october-ipo-listings-peak-648158.html Wed, 12 Nov 2025 17:02:00 +0530 https://dailyworld.in/business/haryana-initiates-steps-towards-becoming-most-investor-friendly-state-648160.html Chandigarh Nov 12 IANS Under the leadership of Chief Minister Nayab Singh Saini Haryana has taken a major step towards becoming one of Indias most investorfriendly states by implementing nine key reforms and fasttracking 13 more under its deregulation initiativenbspThe state aims to complete all 23 identified reforms by yearend significantly improving the business environment and job creation potentialnbspThe progress was reviewed at a highlevel meeting jointly chaired by Special Secretary KK Pathak and Haryana Chief Secretary Anurag Rastogi where officials from the Town and Country Planning TCP Labour Industries and Pollution Control Board presented updatesPathak appreciated Haryanas efforts in introducing reforms regarding reduction of compliance burdens simplifying procedures and promoting digital transparency in governancenbspThe TCP Department has introduced flexible zoning for mixeduse development allowing residential commercial and industrial activities within the same zonenbspA GISbased databank for industrial land integrated with the India Industrial Land Bank IILB has also been launched to help investors locate and secure plots swiftlynbspThe Change of Land Use CLU process has been simplified reducing documentation from 19 to only three essentials ownership proof project report and indemnity bondThe average approval time has come down to 36 days The minimum road width for rural industries has been reduced to 20 feet pending final approvalnbspThe Labour Department has implemented major reforms enhancing flexibility and inclusivity Women are now permitted to work night shifts 7 pm to 6 am in all sectors including factories and shopsnbspFactory closure and retrenchment norms have been rationalised to simplify operationsnbspThese reforms aim to provide industries with greater operational freedom while ensuring worker welfareThe Haryana State Pollution Control Board HSPCB has cut clearance timelines from 30 to 21 days for Consent to Establish CTE and Consent to Operate CTOnbspAutorenewal of CTOs up to 15 years has been introduced for green industries The board has also reclassified 734 nonpolluting industries under the white category exempting them from routine inspectionsnbspSelfcertification and thirdparty verification have replaced multiple layers of manual checks to ensure both compliance and efficiencyThe Industries Department has integrated all services with the national single window system NSWS providing investors with a unified platform for approvals and incentivesnbspHaryana has also implemented its own version of the Jan Vishwas framework decriminalising minor offenses and introducing civil penalties https://dailyworld.in/business/haryana-initiates-steps-towards-becoming-most-investor-friendly-state-648160.html Wed, 12 Nov 2025 17:34:00 +0530 https://dailyworld.in/business/centre-invites-online-applications-for-recognition-as-govt-approved-test-centres-648161.html New Delhi Nov 12 The Department of Consumer Affairs on Wednesday invited applications through online portal for recognition as government approved test centres GATCs in a significant step in expanding Indias verification ecosystem and infrastructure for weights and measures which is aimed at ensuring accuracy transparency and fairness in trade Private industries laboratories and testing facilities can apply through the online portal till November 30 according to Ministry of Consumer Affairs Food and Public DistributionApplicants must have proper testing and calibration facilities linked to national standards along with qualified technical staff who have at least three years of experience in Legal MetrologyBefore granting approval officials from the Department and State Legal Metrology offices will inspect the applicants premises to verify infrastructure staff competence and calibration systemsAs per the Legal Metrology GATC Amendment Rules 2025 applicants are required to pay an online fee of Rs 2 lakh per category of instrument or equipment which will also apply annually for renewal of recognitionThe recognized GATCs shall take verification or reverification fees as specified in the newly introduced Fifth Schedule of the Rules These standardized fees ensure uniformity and transparency across the countryRecognized GATCs will be authorised to verify 18 types of weighing and measuring instruments including water meter Sphygmomanometer Clinical thermometer Automatic rail weighbridges Tape measures Gas meters Energy meters Speed meters for vehicles Breath analyzers and moreAny organisation seeking recognition as a Government Approved Test Centre can now apply online through the new portal by submitting the prescribed form to the Joint Secretary Department of Consumer Affairs The portal offers a simple and transparent process for application fee payment and status tracking ensuring faster and more efficient approvals said the DepartmentThe expanded scope of GATCs covers key instruments across healthcare transport infrastructure and energy sectors where measurement precision is critical for consumer safety and economic efficiencyThe participation of private industries as Government Approved Test Centres GATCs will boost the capacity of State Legal Metrology Departments IANS https://dailyworld.in/business/centre-invites-online-applications-for-recognition-as-govt-approved-test-centres-648161.html Wed, 12 Nov 2025 18:16:00 +0530 https://dailyworld.in/business/adani-group-forays-into-battery-energy-storage-with-one-of-worlds-largest-single-location-projects-647952.html Ahmedabad Nov 11 The Adani Group on Tuesday announced its foray into the Battery Energy Storage Systems BESS sector with a pioneering 1126 MW3530 megawatthour MWh project which would be commissioned by March 2026 The project entailing deployment of more than 700 BESS containers will be the largest BESS installation in India and one of the worlds largest singlelocation BESS deploymentsThis BESS project would have a power capacity of 1126 MW and energy storage capacity of 3530 MWh thus extending power capacity of 1126 MW by 3 hoursEnergy storage is the cornerstone of a renewablepowered future With this historic project we are not only setting global benchmarks but also reinforcing our commitment to Indias energy independence and sustainability This initiative will enable us to deliver reliable clean and affordable energy solutions at scale said Gautam Adani Chairman of Adani GroupWith this strategic entry the Adani Group joins the ranks of global energy leaders investing in largescale storage infrastructure marking a transformative moment in Indias clean energy journeyAccording to the company the strategic initiative is a major step toward enhancing Indias energy security enabling roundtheclock clean electricity and supporting the countrys transition to a lowcarbon futureThe BESS will play a critical role in easing peak load pressures reducing transmission congestion and mitigating solar curtailment thereby improving grid reliability and efficiencyThe project is in the advance stages of deployment at Khavda the worlds largest renewable energy plant and is being developed with cuttingedge lithiumion battery technology and is being integrated with advanced energy management systems to ensure optimal performance and reliabilityThe deployment will support peak load management and energy shifting thereby playing a critical role in decarbonising the power sectorThe Adani Group plans to deploy an additional 15 GWh of BESS capacity by March 2027 with a longterm target of 50 GWh total over the next five years IANS https://dailyworld.in/business/adani-group-forays-into-battery-energy-storage-with-one-of-worlds-largest-single-location-projects-647952.html Tue, 11 Nov 2025 09:37:00 +0530 https://dailyworld.in/business/s-koreas-biotech-industry-output-rises-98-pc-despite-global-uncertainty-647962.html Seoul Nov 11 South Koreas biotechnology industry output grew nearly 10 per cent in 2024 from a year earlier despite persistent global trade uncertainties industry data showed on Tuesday The countrys biotechnology industry production came to 2292 trillion won US157 billion last year up from 2087 trillion won in 2023 the Ministry of Trade Industry and Energy MOTIE said citing a survey by the Korea Biotechnology Industry Organization KoreaBIOThe figure marked a recovery following a 12 percent onyear decline in 2023 signaling renewed growth momentum in the sector reports Yonhap news agencyBy product category production of therapeutic antibodies and cytokine products reached 486 trillion won followed by biomanufacturing and contract services at 321 trillion won and feed additives at 311 trillion won the data showedExports in the sector rose 171 percent onyear in 2024 while related RampD and facility investments jumped 461 percent the ministry saidThe government will expand support for companies in RampD production and exports to ensure the bio industry contributes more to the countrys economic growth and job creation a ministry official saidMeanwhile Seoul shares opened higher on Tuesday tracking overnight gains on Wall Street amid hopes for an end to the US government shutdownThe benchmark Korea Composite Stock Price Index KOSPI rose 8906 points or 219 percent to 416230 in the first 15 minutes of tradingOvernight the Dow Jones Industrial Average gained 081 percent while the techheavy Nasdaq Composite advanced 227 percentThe US Senate advanced a plan to end the recordlong government shutdown and President Donald Trump expressed support for the bipartisan dealIn Seoul most largecap stocks traded higherMarket bellwether Samsung Electronics jumped 388 percent and its chip rival SK hynix climbed 33 percentTop automaker Hyundai Motor rose 074 percent while its smaller affiliate Kia gained 097 percent IANS https://dailyworld.in/business/s-koreas-biotech-industry-output-rises-98-pc-despite-global-uncertainty-647962.html Tue, 11 Nov 2025 10:32:00 +0530 https://dailyworld.in/business/indias-grade-a-office-space-demand-to-touch-70-million-square-feet-in-2025-647966.html Bengaluru Nov 11 Despite global trade frictions Indias Grade A office space demand across the top seven cities continue to remain robust and is poised to touch 70 million square feet in 2025 according to a report on Tuesday New supply is also likely to follow closely at around 60 million square feet Corporate occupiers are taking bold steps to reshape their workplaces across Asia Pacific investing in quality embracing hybrid models and exploring inclusive strategies to meet the needs of a diverse workforce according to Colliers latest reportAccording to the report hybrid work inclusive strategies employee need fulfillment sustainability adoption and technological adeptness are likely to remain at the forefront of workspace revolution across major office markets of the APAC regionInterestingly the Indian office market already prioritises inclusivity and sustainability to a greater degree as compared to othersIndian occupiers are clearly shifting towards sustainability and there is an evident flighttoquality driving the next phase of workplace evolution in 2026 and beyond With over 80 per cent of upcoming Grade A supply expected to be greencertified the industrys commitment to environmental goals is commendable said Arpit Mehrotra Managing Director Office Services India ColliersIndias office market is not just scaling up but is also evolving rapidly in terms of real estate quality and employee experienceFlex spaces have established themselves as a vital component of Indias office landscape supporting hybrid work models and returntooffice mandates while achieving cost efficiency and agilityThese spaces offer scalable solutions that enable companies to manage growth and uncertainty seamlessly With their rising adoption across diverse sectors flex spaces are expected to drive nearly 20 per cent of the Grade A office demand and redefine the future of Indian workplaces over the next few years said Vimal Nadar National Director and Head of Research Colliers India IANS https://dailyworld.in/business/indias-grade-a-office-space-demand-to-touch-70-million-square-feet-in-2025-647966.html Tue, 11 Nov 2025 10:52:00 +0530 https://dailyworld.in/business/bfsi-oil-and-gas-lead-fii-inflows-in-oct-fmcg-sector-leads-outflows-report-647969.html Mumbai Nov 11 While foreign institutional investors FIIs returned as net buyers in October BFSI banking financial services and insurance and Oil and Gas sectors led inflows seeing investments worth 1501 million and 1030 million respectively a report said on Tuesday In October both FIIs and DIIs were net buyers to the tune of 13 billion and 60 billion respectively as the Nifty increased by 45 per cent last month according to the report from brokerage firm JM Financial Institutional SecuritiesSectors that saw the high FII inflows included metals telecom auto and power sectors recorded inflows of 355 million 243 million 110 million and 109 million respectively the report addedFMCG experienced the highest FII outflows at 482 million followed by services at 391 million pharma at 351 million IT at 248 million durables at 198 and chemicals at 105 million it notedIn terms of equity holdings by FIIs BFSI auto IT oil amp gas and pharma represent approximately 60 per cent of FII assets under custody AUC in India the release saidBFSI remained the largest sector holding 317 per cent of FII AUC the report notedOf these there was a sequential uptrend in BFSI and IT while auto and oil and gas saw a decrease Pharma remained flatIndian equities recovered strongly in October with Sensex and Nifty up over 4 per cent aided by FII inflows and improved domestic sentimentReal estate led sectoral performance while oil amp gas metals banks and IT outperformed the Nifty even as healthcare power FMCG and autos underperformedThe NSE Midcap index rose 48 per cent and the BSE Smallcap index gained 32 per centNifty is currently trading above 20 times FY27 estimated earnings which is slightly above last 10year average PE ratio IANS https://dailyworld.in/business/bfsi-oil-and-gas-lead-fii-inflows-in-oct-fmcg-sector-leads-outflows-report-647969.html Tue, 11 Nov 2025 11:00:00 +0530 https://dailyworld.in/business/going-quiet-stepping-up-philanthropy-warren-buffett-in-farewell-letter-647971.html New Delhi Nov 11 Billionaire philanthropist Warren Buffett in his letter to shareholders has said he will go quiet after stepping down as Chief Executive Officer CEO of Berkshire Hathaway at yearend Buffett 94 also confirmed plans to step up his philanthropic efforts pledging to donate the remaining 149 billion in Berkshire stock which he still holdsIn his final famed annual letter as CEO Buffett also reflected on business and ageing saying that I am at the office five days a week where I work with wonderful peopleHe disclosed that he had converted 1800 Class A shares worth about 135 billion into the companys lowerpriced B shares and donated them to four of his family foundationsTo improve the probability that they will dispose of what will essentially be my entire estate before alternate trustees replace them I need to step up the pace of lifetime gifts to their three foundations he explainedBuffet had announced earlier this year that Berkshire Hathaway would henceforth be run by Gregory Abel 63 who has been with the company since 2000Buffett mentioned that his optimism for Berkshire Hathaways future remains bright adding that he will retain a significant amount of Class A shares until shareholders are comfortable with the leadership transitionWarren Buffett now retired is among the top five richest people in the world with 1521 billionThe investing legend had earlier this year criticised US tariffs imposed by President Donald Trump calling them a big mistake and warned that trade should never be used as a weaponBuffett also said that governments have a natural tendency to gradually devalue currency over time He called it a scary phenomenon and admitted that the US dollar is expected to weaken against foreign currencies in 2025 IANS https://dailyworld.in/business/going-quiet-stepping-up-philanthropy-warren-buffett-in-farewell-letter-647971.html Tue, 11 Nov 2025 11:48:00 +0530 https://dailyworld.in/business/inspired-by-hpcl-green-research-and-development-centre-hardeep-puri-647989.html New Delhi Nov 11 Union Petroleum Minister Hardeep Singh Puri on Tuesday said he was inspired by the work of governmentowned Hindustan Petroleum Corporation Limited HPCL Green RampD Centre in Bengaluru and asked them to step up their scope and pace In a post on X social media platform Puri said Felt inspired and excited after visiting the HPCL Green RampD Centre at BengaluruThe stateoftheart RampD centre has over 150 dedicated scientists who are working in areas of refining technologies petrochemical catalysts battery technologies internal combustion engine testing flex fuel engine timing kits green hydrogen for mobility and conversion of seaweed into biocrude the minister saidHe noted that 37 per cent of the scientists at the centre are women leaders who are doing pioneering work to create an Energy Aatmanirbhar BharatPraising its work on refining technologies and green fuels Puri said Fascinating work is being done at the centre and I encouraged the team members to expand the scope and pace of their path breaking projectsEarlier this month he said Indias energy journey is entering a new era as seven sedimentary basins are under study with advanced technology for the exploration of oil and gas across the countryThis is a great time for entrepreneurs and industry leaders to look at oil and gas exploration in India It has never been easier faster or more profitable to invest in Indias energy future according to PuriWhile the global energy market is expected to grow at a slow pace India stands out as a bright spot projected to contribute nearly 3033 per cent of global energy demand growth in the coming decades he addedIndia with its 23 worldclass refineries and a total capacity of 2582 MMTPA million metric tonnes per annum now stands among the top five refining nations in the world IANS https://dailyworld.in/business/inspired-by-hpcl-green-research-and-development-centre-hardeep-puri-647989.html Tue, 11 Nov 2025 12:23:00 +0530 https://dailyworld.in/business/adani-groups-solid-asset-base-anchors-cash-flow-credit-profile-of-usd-bonds-bofa-647995.html Ahmedabad Nov 11 BofA Securities on Tuesday said that Adani Groups operations remain sound amid structural protections which reflect strong market access adding that a solid asset base anchors cash flow and credit profile of the Groups USD bond issuers across ports utilities and renewable sectors The Adani Group showcased operation expansion and market access amid global scrutiny as ratings stayed put while outlookswatches changed according to the global brokerage which added that the Groups solid credit fundamentals support our positive stance on the USD bondAccording to BofA the holding companies of the groups USD bond issuers have reported better fundamentals over the last two years underpinned by EBITDA growth on capacity expansion along with moderation in leverageLooking ahead we expect ADSEZs credit profile to improve further supported by its diversified ports sticky volumes and ecient operations We estimate ADSEZs leverage to stay 25x despite hey investments said the global brokerageThe Adani Group is one of Indias largest conglomerates operating across various infrastructure sectors with 12 listed entities and around 200 billion market capWe expect Adani Transmission Ltd ADTIN and Adani Electricity Mumbai ADANEM to maintain steady credit profiles supported by their diversified operations and regulated andor longterm fixedprice contracts the note further saidBofA said it forecasts both ADTIN and ADANEM to maintain leverage under 6x and coverage above 2x in the next three years despite ADTINs high capex plan while ADANEM further benefits from maintenance like modular outlaysThe credit profile of restricted groups ADINCO AdaniConneX Adani Green Energy Limited ADGREG and Adani Renewable Energy ARENRJ will gradually improve as the debt amortises per bond indentures it addedAdani Groups USD bonds have experienced significant volatility since early 2023 However consistent market access and a lack of adverse conclusions from domestic regulators supported a strong rebound across the complexThe bonds outperformed YTD with tightening by 80325bps and trading 1464 bps under preUS indictment levelOperational resilience and continued liability management underpin our constructive stance on the complex despite YTD tightening We are Overweight on ADSEZ 31s32s ADINCO 31s ADTIN 36s and ADANEM 30s supported by strong credit fundamentals and attractive relative valuation the note explained IANS https://dailyworld.in/business/adani-groups-solid-asset-base-anchors-cash-flow-credit-profile-of-usd-bonds-bofa-647995.html Tue, 11 Nov 2025 13:05:00 +0530 https://dailyworld.in/business/indias-poultry-sector-likely-to-record-4-6-per-cent-revenue-growth-in-2025-26-as-demand-rises-648008.html Mumbai Nov 11 The poultry sector in India is projected to see revenue increase by 46 per cent during the current financial year driven by increasing rural demand higher per capita consumption of meat and growing preference for a proteinrich diet according to a Crisil report released on Tuesday Operating margin however will slip 08 to 1 per cent because of lower broiler prices in the first half of the financial year which will be partly mitigated by a subsequent recovery in broiler prices and favourable feed costs throughout the year the report statesHowever despite the lower profitability credit profiles of poultry companies are seen stable backed by modest capital expenditure limited debt addition and steady accrualThe report is based on an analysis of 34 companies with a cumulative revenue of Rs 10815 crore during the last financial yearThe layeregg segment accounts for 55 per cent of the poultry industry by value and the broiler segment for the remaining 45 per cent In the broiler segment revenue growth is likely to slow to 13 per cent during the current financial year due to lower realisationsCrisil Ratings director Jayashree Nandakumar said that Wholesale broiler prices fell 20 per cent yearonyear to Rs 110115 per kg in the first quarter of this fiscal as a short summer and an early monsoon led to relatively higher bird weights and hence a surplus in supply Subsequently with the onset of the festive season broiler prices have begun to recover Yet average broiler prices will be lower by 46 per cent in the current fiscalSales volume in the broiler segment is expected to grow 68 per cent to around 586 lakh tonne during the current financial yearIn the layeregg segment the sales volume is seen up 46 per cent to around 15750 crore eggs even as prices are seen rising a steady 24 per cent amid stable demand Indias per capita consumption of eggs at 102 per annum is significantly below the global average of 218 indicating substantial growth potential Hence the egg segments revenue is poised to grow 79 per cent during the current financial year the report further statedThe blended revenue growth of the poultry industry is expected at 46 per cent in the current fiscal Profitability however is seen under pressure The first half of this fiscal saw broiler prices crash leading to substantial inventory losses for industry players and thereby around 2 per cent decline in the operating margin In the second half however players will be able to minimise losses on account of subsequent recovery in broiler prices and favourable feed costs the report added IANS https://dailyworld.in/business/indias-poultry-sector-likely-to-record-4-6-per-cent-revenue-growth-in-2025-26-as-demand-rises-648008.html Tue, 11 Nov 2025 13:42:00 +0530 https://dailyworld.in/business/indigo-begins-daily-direct-flights-between-delhi-and-guangzhou-648012.html New Delhi Nov 11 Lowcost airline IndiGo on Tuesday said it has commenced daily nonstop flights between Delhi and Guangzhou China This new route will further strengthen direct connectivity between the two nations by connecting the national capital and a key aviation hub with Guangzhou a major business and manufacturing centre in Southern ChinaThe flights on this route will be operated using IndiGos A320neo aircraft offering affordable convenient and comfortable travel experience on the routeFollowing the successful resumption of our KolkataGuangzhou flights we are delighted to further expand IndiGos presence in China with this new daily connection from Delhi This new route from the Indian Capital and our largest domestic hub will strengthen travel options and encourage economic and cultural exchange between the two countries said Pieter Elbers Chief Executive Officer at IndiGoIt will also connect Guangzhou to IndiGos vast domestic network of more than 90 destinations giving access across India to Chinese travellersWe are thankful to both governments for their support in restoring these links opening significant opportunities for trade tourism and collaboration As we continue to expand internationally we remain committed to building such strategic air corridors that foster deeper regional connectivity and unlock new avenues for growth saidIndiGo and China Southern Airlines also signed a memorandum of understanding MOU on Tuesday to establish a codeshare partnership and mutual cooperation agreementWith this China Southern Airlines will be able to offer enhanced connectivity into India while IndiGo customers will be able to connect on the China Southern Airlines extensive network beyond GuangzhouThis is subject to regulatory approvals said the airlineThe partnership aims to offer enhanced travel options and integrated travel itineraries to customers traveling between India and China on the joint network of both airlines besides through checkin process among other benefitsChina Southern Airlines highly values the development potential of the Indian market Through cooperation with IndiGo we will be able to further leverage each others advantages offer a wider range of travel products and give new momentum to the economic cultural and aviation exchanges between the two countries said Han Wensheng President and CEO of China Southern Airlines IANS https://dailyworld.in/business/indigo-begins-daily-direct-flights-between-delhi-and-guangzhou-648012.html Tue, 11 Nov 2025 14:02:00 +0530 https://dailyworld.in/business/indias-smartphone-market-at-5-year-high-apple-logs-highest-ever-quarterly-shipments-648033.html New Delhi Nov 11 The smartphone market in India reached a fiveyear high in the festive third quarter of 2025 Q3 growing 43 per cent yearoveryear YoY to 48 million units according to the International Data Corporation IDC data released on Tuesday Apple recorded its highestever quarterly shipments in India in the third quarter of 2025 Q3 2025 reaching 5 million units and securing the fourth position in the market for the first timeThe iPhone maker achieved a strong 256 per cent YoY growth driven by sustained demand across both new and existing modelsThe iPhone 16 remained the mostshipped smartphone in India during the quarter contributing 5 per cent of total market shipments while the newly launched iPhone 17 series and iPhone Air saw a recordbreaking debut accounting for 16 per cent of Apples Q3 shipments the strongest launchquarter performance for any iPhone since 2021The midpremium segment grew 107 per cent YoY with share rising from 3 per cent to 4 per cent Samsung climbed to the top position followed by OPPO and OnePlusThe Galaxy S24 contributed nearly onequarter of total shipments in this range driven by steep discounting on etailer platformsAggressive festive promotions and flexible financing options drove strong shipment volumes in Q3 2025 However consumer demand remained concentrated in the premium segment leaving the mass market under pressure and resulting in a significant inventory buildup heading into Q4 2025 said Upasana Joshi senior research manager Devices Research IDC Asia PacificThis surplus has been further exacerbated by rising component costs particularly in memory and currency fluctuations prompting brands to raise prices postDiwaliAs a result IDC forecasts a yearoveryear decline in shipments for Q4 2025 leading to an overall annual contraction with total smartphone shipments expected to fall below 150 million units for the year Joshi mentionedSmartphone average selling prices ASPs surged to a record 294 in Q3 growing 137 per cent yearoveryear YoY driven by strong demand for premium and higherspec models IANS https://dailyworld.in/business/indias-smartphone-market-at-5-year-high-apple-logs-highest-ever-quarterly-shipments-648033.html Tue, 11 Nov 2025 15:12:00 +0530 https://dailyworld.in/business/sip-inflows-hit-all-time-high-of-rs-29-529-crore-in-oct-648037.html Mumbai Nov 11 The systematic investment plan SIP inflow in October registered a monthonmonth MoM growth to reach an alltime high of Rs 29529 crore compared to Rs 29361 crore in September data from the Association of Mutual Funds in India AMFI showed on Tuesday Despite volatility in the domestic equity market during the month the steady growth in SIP in the month reflects the strong retail participation which led the mutual fund industrys total assets under management AUM to increase to Rs 7987 lakh crore from Rs 7561 lakh crore a month earlierContinued SIP inflow remains the most encouraging strength holding steady at around Rs 29500 crore This underlines the maturity and resilience of retail investors who are staying disciplined with their longterm wealth creation goals despite shortterm market fluctuations said Suranjana Borthakur Head of Distribution and Strategic Alliances Mirae Asset Investment Managers IndiaWe believe investors should continue their SIPs as staying invested through market cycles remains the best way to build wealth over time she addedFlexicap category increased inflows compared to last month while most other equity categories had lower inflows and overall equity inflows were lowerThe general reading from the fund flows data shows that overall investors remain confident of equities and continue allocating large amounts to equities however some investors feel less confident and are allocating to debtoriented schemes like arbitrage multi asset and corporate bond funds and also to gold said Dr Vikas Gupta CEO and Chief Investment Strategist at OmniScience CapitalMeanwhile gold exchangetraded funds ETFs continued to attract steady investor interest with net inflows of Rs 7743 crore the data showedWith cumulative net inflows of Rs 27573 crore in 2025 gold ETFs remain among the most resilient segments in the passive space reaffirming their growing role in portfolio stability and risk mitigation said Nehal Meshram Senior Analyst Manager Research Morningstar Investment Research IndiaThe sustained momentum highlights investors continued preference for gold as a safehaven and portfolio diversifier amid lingering geopolitical risks global market volatility and uncertainty around the interestrate trajectory of major central banks IANS https://dailyworld.in/business/sip-inflows-hit-all-time-high-of-rs-29-529-crore-in-oct-648037.html Tue, 11 Nov 2025 15:15:00 +0530 https://dailyworld.in/business/soldiers-scientists-and-startups-must-unite-to-create-new-defence-technology-rajnath-singh-648053.html New Delhi Nov 11 IANS Highlighting the governments efforts to make India a leader in technology Defence Minister Rajnath Singh said on Tuesday that the countrys defence industrial base is expanding rapidly with the synergy among DRDO Armed Forces industry and academia creating a virtuous cycle of research testing field feedback and innovationnbspHe was delivering the inaugural address at the Delhi Defence Dialogue organised by Manohar Parrikar Institute for Defence Studies and Analyses MPIDSA on the theme Harnessing New Age Technology for Defence Capability DevelopmentThe minister said for India to move from a consumer to a creator of technology there was a need to not only acquire new innovations but create the conditions where niche products thrive through sound processes agile institutions and a spirit of collaboration that unites the soldier the scientist the startup and the strategistnbspIndia can no longer be content with merely catching up to global innovation and there is a need to continue nurturing the culture of innovation by encouraging collaboration over silos and speed over procedural inertiaThe Defence Minister highlighted initiatives such as the Innovations for Defence Excellence iDEX and the Technology Development Fund TDF that are nurturing a new generation of innovators They are the architects of a future where cuttingedge technologies from autonomous systems and quantum sensors to advanced materials and spacebased surveillance will bear the imprint of Indian ingenuity From young entrepreneurs MSMEs to captains of Indian multinationals individuals and companies have displayed the collective will to help achieve the mission of Viksit Bharat and Aatmanirbharta he observedRajnath Singh underscored the essentiality to extend Aatmanirbharta beyond manufacturing indigenous systems to digital sovereignty control over the algorithms data and chips that power platforms True strategic autonomy will come only when our code is as indigenous as our hardware We are therefore encouraging secure indigenous software stacks trusted semiconductor supply chains and homegrown AI models trained on Indian dataAmidst all the excitement about machines and algorithms we must remember that technology is not meant to replace human judgement but to amplify it We must also invest in the ethical psychological and legal dimensions of these emerging technologies India as a civilisational power can and must lead the conversation on responsible and humane use of military technology the minister pointed outRajnath Singh emphasised that technology must be seen not only as a force multiplier but also as a resource optimiser He endorsed to leverage technology and data analytics in the capital procurement process to improve decisionmaking and ensure optimal use of every resource In many advanced nations the concept of lifecycle cost is deeply woven into their procurement frameworks Recently I have directed that we too must begin to assess these sustenance costs right at the inception stage of every procurement proposal This will help us see the full picture not only what we invest today but what we must sustain tomorrow he saidThe minister urged the Armed Forces to remain on the lookout for best global practices not just in technology related to equipment but also those related to training logistics planning and management systemsnbspWhile Rajnath Singh stressed on absorbing and adapting to disruptive technologies such as Artificial Intelligence AI Machine Learning Quantum Computing ampamp Swarm Tech he said the true test of advancement lies in how the apparatus functionsHarnessing technology is not just about adding new tools it is about making our institutions more agile anticipatory and adaptive and creating a defence architecture that learns continuously responds instantly and evolves relentlessly in tune with the pace of change he addednbspChief of Defence Staff General Anil Chauhan Ambassadors from friendly nations as well as civil and military officials were present on the occasion https://dailyworld.in/business/soldiers-scientists-and-startups-must-unite-to-create-new-defence-technology-rajnath-singh-648053.html Tue, 11 Nov 2025 16:13:00 +0530 https://dailyworld.in/business/indian-stock-market-continues-upward-trend-as-it-auto-stocks-lead-648065.html Mumbai Nov 11 The domestic equity indices closed at a higher note for the second consecutive day on Tuesday amid buying in IT auto metal and FMCG sectors The rally was further sustained by positive global cues as the US Senate passed a bill to end the longestever federal shutdown Sensex ended the session at 8387132 up 33597 points or 040 per cent The 30share index opened trading higher at 8367152 against the last sessions closing of 8353535 The index rose further to hit an intraday high at 8393647 buoyed by persistent buying in IT and auto stocksNifty closed at 2569495 up 120 points or 047 per centThe domestic market opened on a subdued note amid concerns over potential implications of the Delhi explosion However it recovered smartly and closed at the days high supported by global cues as the US Senate passed a bill to end the longestever federal shutdown said Vinod Nair Head of Research Geojit Investments LimitedImportantly the Q2 results season is nearing its end and is expected to conclude on a positive note driven by betterthanexpected performance by the broader market he addedBEL Adani Ports Mahindra and Mahindra HCL Tech Eternal Bharti Airtel Infosys Sun Pharma Hindustan Unilever LampT Tech Mahindra and TCS were the top gainers from the Sensex basket Bajaj Finance Bajaj FinServ and Tata Motors PV ended the session in negative territoryThe majority of sectoral indices ended the session green amid continued buying momentum Nifty IT rose 428 points or 120 per cent Nifty Auto surged 288 points or 107 per cent Nifty FMCG increased 188 points or 034 per cent and Nifty Bank jumped 200 points or 035 per centBroader indices experienced a mixed approach amid buying in midcap and selling in smallcap stocks Nifty Midcap 100 rose 302 points or 050 per cent Nifty Small Cap 100 fell 37 points or 021 per cent and Nifty 100 closed 109 points or 042 per cent IANS https://dailyworld.in/business/indian-stock-market-continues-upward-trend-as-it-auto-stocks-lead-648065.html Tue, 11 Nov 2025 16:53:00 +0530 https://dailyworld.in/business/us-firm-federal-card-services-enters-india-with-250-million-investment-create-over-1-000-jobs-648070.html Mumbai Nov 11 USbased Federal Card Services FCS on Tuesday announced its entry in India with an investment of 250 million across its three core business pillars technology real estate and services As part of this expansion the global leader in premium metal and sustainable payment cards is developing its first manufacturing facility in PuneThe new plant will produce 100 per cent metal cards and biodegradable cards marking a major milestone in Indias growing fintech manufacturing ecosystemFCS said it aims to strengthen Indias fintech supply chain and create over 1000 direct jobs integrating sustainable manufacturing practices that align with Indias Make in India and green growth visionWith Phase 1 of the 32000 sq ft facility completed FCS is now focused on equipment calibration and workforce training ahead of operations commencing in February 2026 The facility will commence with an initial capacity of 2 million cards per year scaling up to 267 million cards annuallyIndia is central to our next phase of growth globally With its strong fintech ecosystem engineering excellence and manufacturing capabilities India offers the perfect foundation for scaling sustainable innovation said Matias Gainza Eurnekian CEO Federal Card Services FCSOur investment in Pune marks the beginning of a longterm commitment to build design and payment solutions from India to the world We see India not just as a market but as a strategic hub for innovation talent and responsible manufacturing Eurnekian addedThrough this investment FCS aims to support Indias ambition to become a global hub for advanced and sustainable manufacturing The company currently works with Axis Bank VISA Mastercard and FPL Technologies OneCardThe cards produced by FCS and designed in collaboration with global innovation partners represent a revolutionary alternative to PVC plasticWith its investment in India FCS is reinforcing its global leadership in innovation sustainability and highend design in the payment solutions industry It operates across five continents and serves over 100 clients IANS https://dailyworld.in/business/us-firm-federal-card-services-enters-india-with-250-million-investment-create-over-1-000-jobs-648070.html Tue, 11 Nov 2025 17:27:00 +0530 https://dailyworld.in/business/us-firm-federal-card-services-enters-india-with-250-million-investment-to-create-over-1-000-jobs-648071.html Mumbai Nov 11 USbased Federal Card Services FCS on Tuesday announced its entry in India with an investment of 250 million across its three core business pillars technology real estate and services As part of this expansion the global leader in premium metal and sustainable payment cards is developing its first manufacturing facility in PuneThe new plant will produce 100 per cent metal cards and biodegradable cards marking a major milestone in Indias growing fintech manufacturing ecosystemFCS said it aims to strengthen Indias fintech supply chain and create over 1000 direct jobs integrating sustainable manufacturing practices that align with Indias Make in India and green growth visionWith Phase 1 of the 32000 sq ft facility completed FCS is now focused on equipment calibration and workforce training ahead of operations commencing in February 2026 The facility will commence with an initial capacity of 2 million cards per year scaling up to 267 million cards annuallyIndia is central to our next phase of growth globally With its strong fintech ecosystem engineering excellence and manufacturing capabilities India offers the perfect foundation for scaling sustainable innovation said Matias Gainza Eurnekian CEO Federal Card Services FCSOur investment in Pune marks the beginning of a longterm commitment to build design and payment solutions from India to the world We see India not just as a market but as a strategic hub for innovation talent and responsible manufacturing Eurnekian addedThrough this investment FCS aims to support Indias ambition to become a global hub for advanced and sustainable manufacturing The company currently works with Axis Bank VISA Mastercard and FPL Technologies OneCardThe cards produced by FCS and designed in collaboration with global innovation partners represent a revolutionary alternative to PVC plasticWith its investment in India FCS is reinforcing its global leadership in innovation sustainability and highend design in the payment solutions industry It operates across five continents and serves over 100 clients IANS https://dailyworld.in/business/us-firm-federal-card-services-enters-india-with-250-million-investment-to-create-over-1-000-jobs-648071.html Tue, 11 Nov 2025 17:27:00 +0530 https://dailyworld.in/business/indias-private-hospital-sector-to-almost-double-to-202-billion-by-2030-report-648073.html New Delhi Nov 11 Indias private hospital sector is projected to reach 2025 billion by 2030 from an estimated 1223 billion in 2025 driven by rising demand private investment government initiatives and technology adoption such as AI and telemedicine a report said on Tuesday India needs 24 million additional hospital beds necessitating 2 billion square feet of space to build the healthcare infrastructure the report from credit rating agency Brickwork Ratings saidThe sector recorded 72 deals worth 35 billion in Q3 2025 up 166 per cent quarteronquarter in total deal valueIn 2024 Indias hospital sector experienced significant mergers and acquisitions MampA reflecting robust investor interest and a strategic shift towards expanding healthcare services across the country the report notedThe outlook for credit ratings of the private hospital industry in India is Positive due to robust demand healthy financial performances effective risk management and robust expansion strategies by leading hospital chains said Rajeev Sharan Head of Research Brickwork RatingsThe report said that Indias medical tourism market valued at 87 billion in 2025 is set to almost double to 162 billion by 2030 driven by affordable highquality care and streamlined visa processesRanking 10th in the Medical Tourism Index India attracted 73 million foreign patients in 202324 with rising demand for specialised treatments and strong international partnerships boosting growthLeading hospitals reported a rise in ARPOB average revenue per occupied bed which now ranges from about Rs 38000 to over Rs 74000 per bed per day the report saidARPOB is expected to grow in the coming years on account of improving speciality and payer mix and rising demand for highvalue procedures it addedFurther it predicted that the average length of stay ALOS is expected to remain low at around 34 days through 2030 leading to better bed utilisation Low ALOS is driven by ongoing operational improvements technological upgrades and faster patient throughput IANS https://dailyworld.in/business/indias-private-hospital-sector-to-almost-double-to-202-billion-by-2030-report-648073.html Tue, 11 Nov 2025 17:29:00 +0530 https://dailyworld.in/business/uidai-to-use-behavioural-insights-to-boost-adoption-of-mbu-among-kids-648102.html New Delhi Nov 11 The Unique Identification Authority of India UIDAI on Tuesday said it will use behavioural insights to enhance adoption of Mandatory Biometric Update MBU after waiving all charges for MBU in Aadhaar for children Towards this UIDAI has partnered with research consultancy Behavioural Insights Limited BIT to help children and youngsters access vital services through the timely updation of biometric in their AadhaarThe MoU aims to increase MBU in Aadhaar for 5 year and 15yearold and to address behavioural logistical and awarenessrelated barriers to ensure timely updates enabling seamless access to services and benefits linked to AadhaarTailored behavioural interventions will be designed tested and implemented to encourage Aadhaar MBU updates said IT MinistryBhuvnesh Kumar CEO of UIDAI said When technology is aligned with human behaviour digital identity evolves from a purely technical process into a more seamless trustworthy and empowering experience Through this MoU we hope to achieve this effectRachel Coyle CEO of BIT underlined that a new evidencebased understanding of human behaviour can boost updates of Aadhaar and help Aadhaar number holders get access to crucial public servicesOnce enrolled in Aadhaar a child needs to update biometric fingerprint iris and photo on attaining the age of 5 and then again on attaining the age of 15 yearsUIDAI has been making continuous efforts to enhance MBU adoption among the target groupsIn a propeople measure UIDAI has waived off all charges for MBU for the 715 age group which is expected to benefit around 6 crore childrenThe waiver of MBU charges for the said age group has already kicked in effective October 1 2025 and will be in force for a period of one year IANS https://dailyworld.in/business/uidai-to-use-behavioural-insights-to-boost-adoption-of-mbu-among-kids-648102.html Tue, 11 Nov 2025 19:37:00 +0530 https://dailyworld.in/business/godrej-industries-q2-profit-falls-16-pc-to-rs-242-crore-revenue-up-648120.html Mumbai Nov 11 Godrej Industries Limited GIL on Tuesday reported nearly 16 per cent yearonyear YoY decline in its net profit attributed to owners for the second quarter of the current fiscal Q2 FY26 at Rs 2424 crore The company had posted a profit of Rs 288 crore to its owners in the same quarter last year Q2 FY26 As per the companys exchange filing its profit fell nearly 31 per cent sequentially to Rs 349 croreHowever the companys revenue from operations for the quarter under review increased 47 per cent YoY to Rs 5032 crore compared to Rs 4804 crore in the corresponding period of the previous fiscalDespite the uptick in revenue operational performance came under heavy pressure as the total expenses of the conglomerate for the period rose over 16 per cent to Rs 560286 crore YoY from Rs 481508 croreThe performances of Godrejs businesses vary this quarter With revenue of Rs 1950 crore the Real Estate amp Property Development division was the largest contributor while the Animal Feed business came in second with revenue of Rs 1217 crore followed by the Chemicals segment with Rs 1059 croreDuring the quarter the Group has acquired control of one of its joint ventures and divested a 25 per cent equity stake in Vivrut Developers Private Limited VDPL a joint venture through Godrej Properties Limited a subsidiary company resulting in a gain of Rs 535 crore recognised under Other Income the company said in its exchange filingAdditionally the group had sold a 25 per cent equity stake held by it in Madhuvan Enterprises Private Limited MEPLMeanwhile the shares of Godrej Industries ended the session slightly up on Tuesday The stock closed at Rs 10650 up 041 per cent This year till date the scrip slipped over 8 per cent IANS https://dailyworld.in/business/godrej-industries-q2-profit-falls-16-pc-to-rs-242-crore-revenue-up-648120.html Tue, 11 Nov 2025 20:39:00 +0530 https://dailyworld.in/business/all-passengers-safe-says-spicejet-after-flight-makes-emergency-landing-647784.html New Delhi Nov 10 A SpiceJet flight from Mumbai to Kolkata made an emergency landing due to failure in one of its engines according to Kolkata Airport officials The airline said in a statement on Monday that all passengers and crew members are safe On November 9 SpiceJet flight SG 670 operating from Mumbai to Kolkata experienced a technical issue during descent at Kolkata airport The aircraft landed safely and all passengers and crew deplaned normally according to a statement from a SpiceJet spokesperson The full emergency was lifted at 1138 pmOn September 12 a SpiceJet Q400 flight from Gujarats Kandla airport to Mumbai made a similar emergency landing at Chhatrapati Shivaji Maharaj International Airport CSMIA after an outer wheel was found on the runway following takeoff The plane landed safely with all passengers and crew unharmedMeanwhile several airlines including Air India IndiGo and SpiceJet alerted passengers of delays due to a malfunction in the Air Traffic Control system at Indira Gandhi International Airport in Delhi resulting in several delayed flightsAirlines such as Air India IndiGo and SpiceJet urged passengers to check their flight status before departure to the airport and confirmed that staff were available to assist travellers to reduce inconvenienceThe technical issue was resolved and the flight operations are now normal according to airport officialsSpiceJet slipped into losses during the AprilJune quarter reporting a consolidated net loss of Rs 234 croreThis is a sharp reversal from the net profit of Rs 15818 crore it had posted in the same quarter previous yearSpiceJets revenue from operations also dropped nearly 36 per cent yearonyear YoY which it attributed to geopolitical tensions with a neighbouring country and restrictions in international airspace which hit demand for leisure travelIt also faced delays in bringing grounded aircraft back into service due to global supply chain issues and engine maintenance problems IANS https://dailyworld.in/business/all-passengers-safe-says-spicejet-after-flight-makes-emergency-landing-647784.html Mon, 10 Nov 2025 10:38:00 +0530 https://dailyworld.in/business/gold-and-silver-prices-up-by-2-pc-over-positive-global-cues-647789.html New Delhi Nov 10 Gold and silver prices went up on Monday driven by positive global cues and the possibility of the US Fed lowering interest rates next month At around 10 am on the Multi Commodity Exchange MCX the price of the December 5 2025 contract for gold rose 116 per cent to Rs 122468 per 10 grams and the price of the December 5 2025 contract for silver rose 199 per cent to Rs 150666 per kgGold prices fell after reaching a record high in October However the fresh momentum in the yellow metal is being driven by growing concerns about the health of the US economy and the possibility of an interest rate cut next monthAccording to Rahul Kalantri Vice President of Commodities at Mehta Equities prices were highly volatile throughout the week but managed to recover from lower levels after weak US consumer sentiment figures and uncertainty over when the US government shutdown will endThe shutdown has entered a record duration increasing concerns about the broader US economic outlook prompting renewed safehaven demand he mentionedGold and silver also saw gains in the international markets Gold was up 132 per cent at 4062 per ounce on Comex and silver up 232 percent at 4926 per ounceMarket watchers further stated that the dollar index softened as well lending additional support to bullion prices Gold has support at 39553920 while resistance at 40404065 Silver has support at 47804745 while resistance is at 48554885In Indian rupee gold has support at Rs 120450119880 while resistance at Rs 121790122400 Silver has support at Rs 146850145900 while resistance at Rs 148840 149780Additionally WTI crude regained momentum on Monday rising past 60 per barrel as traders awaited fresh insight from OPEC and the IEAHowever the broader picture remains mixed OPEC a coalition of 22 oilexporting countries is easing production limits US producers are ramping up output and expectations of a looming supply surplus continue to weigh on confidence IANS https://dailyworld.in/business/gold-and-silver-prices-up-by-2-pc-over-positive-global-cues-647789.html Mon, 10 Nov 2025 11:00:00 +0530 https://dailyworld.in/business/demat-accounts-opened-in-october-touch-10-month-high-data-647794.html Mumbai Nov 10 New demat accounts opened in October exceeded 30 lakh marking a 10month high and a 22 per cent increase from 246 lakh in September data from depositories showed Analysts attributed the surge to a rebound in equity markets return of foreign fund inflows and flood of initial public offerings IPO that has heightened investor interest Total demat accounts reached a record 21 crore up from 207 crore the previous monthIn October Indias primary market saw a record number of mainboard IPOs with 10 offerings aiming to raise over Rs 44930 crore marking the largest monthly fundraising target in the countrys capitalmarket historyAnalysts also attributed the spike to robust market conditions across broader indices Equity benchmarks Sensex and Nifty rose in October approximately 3 per cent while the BSE Midcap and Smallcap indices gained 4 per cent and 3 per cent respectivelyForeign institutional investors who had been net sellers for several months turned buyers and invested around 16 billion in domestic equitiesThe domestic stock market is expected to remain sideways to a consolidating phase as the equity indices show mild selling pressure at a higher level in the weekly chartOn the domestic front investors will be focused on Indias CPI and WPI inflation figures this week which are expected to shed light on the inflation trend and future policy directionGlobal investment bank Goldman Sachs GS has turned bullish on India upgrading its rating on Indian equities to Overweight and setting a Nifty target of 29000 by end2026 implying a potential 14 per cent upside from current levelsGoldman Sachs said recent trends suggest a turnaround in sentiment as valuations have cooled and foreign risk appetite improvesThe investment bank said growth will be supported by the Reserve Bank of Indias easing measures including rate cuts improved liquidity and bank deregulation along with GST reductions and slower fiscal consolidation IANS https://dailyworld.in/business/demat-accounts-opened-in-october-touch-10-month-high-data-647794.html Mon, 10 Nov 2025 11:40:00 +0530 https://dailyworld.in/business/lenskart-shares-make-muted-debut-slips-nearly-9-pc-to-days-low-of-rs-355-647823.html Mumbai Nov 10 Eyewear retailer Lenskart Solutions Ltd made a tepid debut on stock exchanges on Monday despite strong investor interest in its Rs 7278 crore initial public offering IPO The companys shares were listed at Rs 390 apiece on the BSE a discount of about 3 per cent to its issue price of Rs 402 while opening slightly higher at Rs 395 on the NSE Soon after listing the stock slipped to an intraday low of Rs 35570 down over 9 per cent from the issue price However it later recovered sharply in afternoon trade climbing over 15 per cent from the days low to hit an intraday high of Rs 41380At around 2 pm the Lenkarts shares were trading flat to their IPO price The stock was trading at Rs 40455 up 06 per cent from the listing price Meanwhile domestic equity indices were trading in positive territory Sensex was at 8363053 up 414 points or 05 per cent and Nifty was at 2561585 up 122 points or 048 per centThe IPO had been among the most keenly watched this year and witnessed robust demand being subscribed 28 times overall Investors bid for 28188 crore shares against the 997 crore shares on offer according to exchange dataThe Qualified Institutional Buyers QIB segment drove the response subscribing 4035 times the shares reserved for them while noninstitutional investors NIIs subscribed 1823 timesRetail participation was also strong despite the relatively high price band of Rs 382Rs 402 per shareThe public offer comprised a fresh issue of shares worth Rs 215074 crore and an offer for sale OFS of Rs 512802 croreThe muted debut reflected cooling sentiment in the grey market where the premium had slipped to about 2 per cent ahead of listing indicating expectations of only a marginal upside Despite the soft start Lenskarts quick recovery in afternoon trade hinted at continued investor interest in the fastgrowing eyewear brand IANS https://dailyworld.in/business/lenskart-shares-make-muted-debut-slips-nearly-9-pc-to-days-low-of-rs-355-647823.html Mon, 10 Nov 2025 14:52:00 +0530 https://dailyworld.in/business/premium-hotel-occupancies-in-india-to-grow-5-6-pc-in-fy26-fy28-demand-to-outpace-supply-647864.html New Delhi Nov 10 India is likely to see a compound annual growth rate CAGR of 56 per cent in premium hotel room additions between FY25 and FY28 as demand is expected to grow at a faster pace of 810 per cent according to a report on Monday As a result occupancies across premium hotels are projected to improve by 200 bps to 7274 per cent and average room rents ARRs to Rs 82008500 in FY26 36 per cent higher over the previous year said rating agency ICRA in its report maintaining a Stable outlook on the Indian hospitality industryIndias annual premium hotel room inventory across 12 major cities crossed the 1 lakh mark in FY2023 and is slated to cross 12 lakh keys in the next fiscal said Srikumar Krishnamurthy Senior Vice President and CoGroup HeadCorporate Ratings ICRAHowever demand growth is expected to continue to outpace the supply addition at least over the next three yearsICRA expects the premium room inventory across these cities to grow at a CAGR of 56 per cent over FY25FY28 while demand is expected to augment in the range of 810 per cent in this periodThe premium hotel key additions are democratised in this cycle across tier 1 and tier 23 cities given the increased acceptance of the latter among travellers and space and land constraints in the formerWith three years of doubledigit revenue expansion over FY2023 to FY2025 and the growth momentum continuing in the current fiscal the Indian hospitality industry has fared well in recent yearsBuoyed by the strong demand sentiments and the improved earnings profile of hospitality players the sector continues to see investments for supply additions and room upgradations to encash on the opportunities the report mentionedCertain pockets within the hospitality segment such as airport hotels and spiritual tourism have garnered healthy interest over recent years with 20002500 premium keys in the pipeline in each of these segments which is estimated at around 1015 per cent of the total premium supply pipeline IANS https://dailyworld.in/business/premium-hotel-occupancies-in-india-to-grow-5-6-pc-in-fy26-fy28-demand-to-outpace-supply-647864.html Mon, 10 Nov 2025 16:59:00 +0530 https://dailyworld.in/business/private-capex-boosts-indias-mediumterm-growth-25-bps-repo-cut-likely-report-647865.html New Delhi Nov 10 Indias mediumterm growth outlook remains constructive with improving private capital expenditure and resilient consumption which supported a strong recovery in equities in October a report said on Monday Nifty valuations are modestly above the 10year average we remain constructive on Indian equities the report from HSBC Mutual Fund saidIn debt markets the HSBC fund house said the 24 year corporate bond segment offers attractive opportunities adding that inflation outlook and growth uncertainty raise the odds of a 25 bps rate cut on December 5Regarding equities the report said The growth cycle may be bottoming out Interest rate and liquidity cycles decline in crude prices and a normal monsoon support a pickup in growthThe mutual fund said that the GST rate cut and prior income tax cuts should boost private consumption and support private capex amid global uncertaintyGovernment investment manufacturing push and a real estate recovery should sustain mediumterm investment momentum it addedIndian equities recovered strongly in October with Sensex and Nifty up over 4 per cent aided by FII inflows and improved domestic sentimentThe NSE Midcap index rose 48 per cent and the BSE Smallcap index gained 32 per centReal estate led sectoral performance while oil amp gas metals banks and IT outperformed the Nifty even as healthcare power FMCG and autos underperformedThe upcoming macro prints such as November CPI inflation trade deficit GDP and GST collections will be closely watched by the central bank for its rate guidanceThe report noted tight liquidity despite RBI foreignexchange interventions adding that markets expect liquidity infusion via open market purchase OMO purchases IANS https://dailyworld.in/business/private-capex-boosts-indias-mediumterm-growth-25-bps-repo-cut-likely-report-647865.html Mon, 10 Nov 2025 17:01:00 +0530 https://dailyworld.in/business/human-development-indicators-continue-to-worsen-in-pakistan-undp-647879.html New Delhi Nov 10 Representatives of the UNDP IMF and World Bank have painted a grim picture of Pakistans economy as the human development indicators continue to worsen amid weak governance in a country that is surviving on bailouts from multilateral agencies such as the latter two The United Nations Development Programmes Resident Representative Dr Samuel Rizk said last week that there are two tales of Pakistans story as on one side there is macroeconomic stability but on the other hand the social and human development indicators are worsening and posing serious challenges according to an Islamabaddatelined report in The News InternationalHe said that Pakistan was receiving 14 billion from all multilateral agencies including the IMF World Bank ADB and others including the IFC on a per annum basis but its requirement stood at 15 to 17 per cent of GDP having an annual estimated requirement of 50 billion for achieving sustainable development goals This cannot materialise without the coblending of financing needs he addedHe also highlighted that the EU delegation would soon be visiting Pakistan to review the GSP whereby Pakistan would have to show compliance with 27 conventions the report saidGSP is a special incentive arrangement under the EUs Generalised Scheme of Preferences GSP that grants developing countries zero customs duties on over twothirds of their exports to the EU To qualify a country must be vulnerable have limited export diversification and demonstrate a commitment to sustainable development and good governance by ratifying and implementing 27 international conventions on human rights labour rights environment and good governanceIndia has been highlighting that Pakistan has been flouting these conditions but yet the EU is continuing with the GSP status for the countryThe IMFs Resident Representative in Pakistan Chief Mahir Binc highlighted Pakistans weak energy sector poor institutional reforms weak governance low exports an unfriendly business climate and a narrow tax base as serious challenges holding back economic stability and growth according to The News International ReportHe stated that Pakistan was facing challenges of revenue mobilisation and energy sector losses which are hampering growth in exports He said that the IMF wanted to have fiscal and export buffers by the end of the ongoing Extended Fund Facility EFF and Resilience Sustainability Fund RSF programmes by 2027 The taxtoGDP ratio he said should have gone up to 15 per cent in accordance with the IMF assessment but it might go up to 13 per cent by 2027The World Banks Country Director for Pakistan Bolormaa Amgabazar stated that Pakistan was losing 20 per cent of its GDP by 2030 mainly because of climate change and natural disasters She said that if Bangladesh could curb population growth why was Pakistan lagging She also highlighted stunting standing at 40 per cent among children in Pakistan causing an increased number of learning povertyAccording to the World Bank climate shocks will continue to hit Pakistan if action is delayed as the country is already facing aftershocks of environmental disasters She cited the example of Lahore where air pollution has become hazardous for human life IANS https://dailyworld.in/business/human-development-indicators-continue-to-worsen-in-pakistan-undp-647879.html Mon, 10 Nov 2025 17:46:00 +0530 https://dailyworld.in/business/over-1-760-gccs-in-india-fast-becoming-frontlines-of-enterprise-transformation-nasscom-647880.html New Delhi Nov 10 More than 1760 Global Capability Centres GCCs in India are no longer the backoffice engines of the world but are fast becoming the frontlines of enterprise transformation a Nasscom report said on Monday Employing nearly 19 million professionals GCCs in the country power the digital backbone of almost half of the Fortune 500Nearly 70 per cent of all new GCCs set up across Asia are choosing India not just for its talent density but for its growing ecosystem of deeptech capability serviceprovider partnerships and designled thinking according to the report by Nasscom developed with Oliver Wyman and R SystemsThe GCC model is entering a pivotal phase demanding deep partnerships and rapid movement to leverage these centers as primary engines of innovation resilience and enterprise value For India the next decade of global digital progress will be built on partnership models architected in India where GCCs and service providers jointly define how enterprises grow innovate and compete the findings showedThe report identifies a new operating construct for the NextGen GCCs that is built on strategic partnerships between headquarters GCCs and tech service providersThese are integrated ecosystems where partners jointly cocreate run and scale capabilities Flexible models such as BuildOperateTransferManage BOX Joint Ventures Modern Talent Augmentation and CoInnovation Partnerships are reshaping how enterprises accelerate transformation at speed and scaleThis evolution reflects a global shift in enterprise expectation GCCs must now own innovation pipelines drive PampL impact and create autonomous value that keeps pace with AInative disruptionTo effectively navigate this evolving landscape the report outlines five building blocks for success a shared enterprise vision operating excellence resilient governance magnetic talent and technologyled innovationFor Service Providers the imperative is deeper play and more adaptability requiring investment in specialized talent defining a forward value proposition and tweaking operating models ultimately transitioning to lifecycle partners delivering measurable business impact the report noted IANS https://dailyworld.in/business/over-1-760-gccs-in-india-fast-becoming-frontlines-of-enterprise-transformation-nasscom-647880.html Mon, 10 Nov 2025 17:46:00 +0530 https://dailyworld.in/business/jharkhand-robbery-and-firing-on-trader-sparks-shutdown-in-dhanbad-market-647886.html Dhanbad Nov 10 Traders on Monday launched a massive protest after a businessman was robbed and shot at inside the governmentrun Market Committee complex in the Barwadda police station area in Dhanbad Jharkhand late Sunday evening The incident has caused concerns over rising crime in Jharkhands coal capital prompting traders to shut all 417 shops in the market complex for the dayThe attack took place around 830 pm on Sunday when three bikeborne assailants intercepted trader Shyam Bhimsariya while he was closing his shopThe miscreants fired at him snatched a bag containing Rs 4 lakh and sped off Bhimsariya narrowly escaped the bullet which reportedly grazed past him The incident created panic among shopkeepers and customers many of whom rushed to safetyOn Monday morning hundreds of traders assembled at the main gate of the Market Committee complex raising slogans against the administration and demanding immediate arrests They alleged that the market which witnesses a heavy footfall has long been operating without proper security measuresThe Market Committee complex is one of the busiest business hubs in Dhanbad recording a daily turnover of Rs 78 croreWe will not tolerate this kind of atmosphere where traders fear for their lives every evening a member of the traders association said adding that if the culprits are not arrested within 48 hours the protest may spread to other markets across the districtBJP MP Dhullu Mahto addressing traders said criminals are roaming fearlessly in Dhanbad The morale of criminals has gone up due to weak policing The police must act immediately to restore confidence among traders he saidJharia Congress MLA Ragini Singh accused the state government of complete failure on the law and order front When crime is discussed in the Assembly the government remains silent People are living in fear while criminals are dictating terms she remarkedOutgoing Mayor Chandrashekhar Agarwal demanded urgent security measures in the market area suggesting that CCTV cameras be installed He said a permanent police post must be established to prevent the recurrence of such incidentsDhanbad District Chamber of Commerce president Chetan Goenka strongly condemned the attack and criticised authorities for ignoring repeated requests for better securityIt is shocking that a market with a daily business of Rs 78 crore has neither CCTV surveillance nor police patrolling Traders cannot operate under fear The administration must take permanent measures Goenka said IANS https://dailyworld.in/business/jharkhand-robbery-and-firing-on-trader-sparks-shutdown-in-dhanbad-market-647886.html Mon, 10 Nov 2025 17:53:00 +0530 https://dailyworld.in/business/need-to-bridge-gap-between-loan-sanctions-actual-disbursements-haryana-chief-secy-tells-bankers-647892.html Chandigarh Nov 10 Haryana Chief Secretary Anurag Rastogi on Monday stressed the need to bridge the gap between loan sanctions and actual disbursements to beneficiaries government officials said Chairing the 174th statelevel bankers Committee meeting here Rastogi urged banks to revisit policies and ensure timely and adequate credit flow reaches farmersThe meeting brought together senior officials from various banks government departments and financial institutions to assess the states banking performance across multiple parametersThe Chief Secretary appreciated the collaborative efforts of banks and government departments in promoting financial inclusion and supporting MSMEs but emphasised that continued coordination between banks and district administrations remains essential for ensuring lastmile delivery of credit and financial services especially in rural and aspirational blocksRastogi sought information from all banks regarding unclaimed government deposits and directed that a comprehensive report be submitted to the Commissioner and Secretary FinanceThe meeting revealed encouraging progress on the financial awareness front with campaigns titled Your Money Your Right successfully activating more than 825 dormant accounts restoring Rs 28769 lakh to rightful beneficiariesThis initiative has gained significant traction in reconnecting citizens with their forgotten depositsOn the financial performance front data presented at the meeting showed Haryanas banking sector continues its strong growth trajectoryThe total deposits stood at Rs 868918 crore while advances reached Rs 769537 crore as of September 2025The state recorded impressive yearonyear growth of 1248 per cent in deposits and 1436 per cent in advances reflecting robust economic activity and improved credit outreach across sectorsThe creditdeposit CD ratio improved from 87 to 89 per cent surpassing the national benchmark of 60 per centNotably all districts in Haryana achieved CD ratios above the national goal indicating widespread and balanced credit penetration throughout the stateHaryanas banking network has expanded to 5582 branches marking a net addition of 230 branches during the yearPublic sector banks account for 2733 branches private sector banks operate 1941 branches small finance banks have 218 branches and Haryana Gramin Bank maintains 690 branches across the state IANS https://dailyworld.in/business/need-to-bridge-gap-between-loan-sanctions-actual-disbursements-haryana-chief-secy-tells-bankers-647892.html Mon, 10 Nov 2025 18:37:00 +0530 https://dailyworld.in/business/pm-modis-visit-to-bolster-india-bhutan-trade-and-investment-ties-647893.html New Delhi Nov 10 Prime Minister Narendra Modis visit to Bhutan scheduled from November 11 to 12 will aim at strengthening Indias trade and investment ties with the Himalayan Kingdom Indias unique trade relations with Bhutan are governed by the 2007 IndiaBhutan Friendship Treaty and the 2016 IndiaBhutan Agreement on Trade Commerce and Transit which establishes a free trade regime between the two countries and also provides Bhutan duty free transit of goods to and from third countriesIndia has consistently been Bhutans top trading partner both as an import source and as an export destination Indias share of Bhutans total trade grew from 7917 per cent in 2023 to 7988 per cent in 2024In value terms in 2024 JanuaryDecember Indias bilateral trade with Bhutan was Rs 12669 crore of which Indias exports to Bhutan amounted to Rs 9538 crore and Indias imports from Bhutan were Rs 3131 croreIndia has provided special exemption from any restrictions or prohibitions on export of essential commodities to Bhutan At the request of Bhutan a number of trade points routes have been approved for facilitating Bhutans exports to India and also to third countries Recently a B2B agreement for supply of various fertilisers to Bhutan was signedFurther enhancing connectivity between the two countries is a priority for both the countries This includes establishing crossborder rail links strengthening road connectivity establishing Integrated Check Posts and trade routes new immigration points multimodal trade routes and digital connectivityOn September 29 2025 an intergovernmental MoU for the establishment of railway links between India and Bhutan was signed in New Delhi Under the MoU two rail links KokrajharGelephu 69 km and BanarhatSamtse 20 km will be implemented with a total estimated cost of Rs 403334 croreTo facilitate the movement of people including third country nationals an Immigration Check Post was inaugurated at Darranga Assam on November 7 2024 The Jogigopha Inland Waterway Terminal inaugurated in January 2025 in presence of the Minister of Industry Commerce and Employment of Bhutan will further enhance regional trade connectivityThe two countries also enjoy longstanding and mutuallybeneficial cooperation in the hydropower sector Till date India has jointly developed five major hydroelectric projects HEPs in Bhutan totaling 3156 MW including 336 MW Chukha HEP 60 MW Kurichhu HEP 1020 MW Tala HEP 720 MW Mangdechhu HEP and the recently completed August 2025 1020 MW PunatsangchhuII HEPA 1200 MW PunatsangchhuI HEP is under construction India has also been facilitating market access for Bhutans power sale in India such as Basochhu and Nikachhu HEPs to trade their energy in Indian Energy Exchange IEXSpace cooperation is a new area of bilateral cooperation In 2019 Prime Minister Modi and then Prime Minister Dr Lotay Tshering jointly inaugurated the Ground Earth Station of the South Asia Satellite in Thimphu Subsequently the two sides jointly developed the IndiaBhutan SAT which was launched on November 26 2022 by ISRO The Indian government has been extending capacity building opportunities to Bhutanese engineers in the space sectorFintech is another domain of collaboration between India and Bhutan The RuPay Card was launched in Bhutan in two phases Phase I 2019 and PhaseII 2020 to enable crossborder payments using RuPay cards In 2021 Indias BHIM UPI application was launched in Bhutan The usage of the RuPay cards and BHIM UPI has increased since their launchIndia has also supported Bhutans initiatives such as the Gyalsung National Service Programme one year mandatory training for all Bhutanese youth attaining the age of 18 years New Delhi extended grant assistance of Rs 200 Crore to the Gyalsung Project and through a concessionary loan of Rs 1500 crore to build the infrastructure for the Gyalsung academies The two sides have also been engaged in training programmes for GyalsungBesides India has conveyed full support to Bhutans Gelephu Mindfulness City project GMC which is an initiative of the King of Bhutan IANS https://dailyworld.in/business/pm-modis-visit-to-bolster-india-bhutan-trade-and-investment-ties-647893.html Mon, 10 Nov 2025 18:38:00 +0530 https://dailyworld.in/business/indias-unemployment-rate-declines-to-52-per-cent-in-july-september-quarter-647895.html New Delhi Nov 10 The unemployment rate UR in India among persons of age 15 years and above declined to 52 per cent in JulySeptember this year from 54 per cent in the previous quarter of AprilJune according to data released by the Ministry of Statistics on Monday The share of rural employment in the agriculture sector rose from 535 per cent to 577 per cent during JulySeptember due to Kharif agricultural operations the official statement saidThe share of workers engaged in the urban tertiary sector also increased to 62 per cent during JulySeptember from 617 per cent in the previous quarter reflecting a higher level of employmentSelfemployed workers in rural areas witnessed a notable rise to 628 per cent during JulySeptember from 607 per cent in the preceding quarter of AprilJune the statement saidUrban areas recorded a modest improvement for regular wage employees to 498 per cent during the JulySeptember quarter from 494 per cent in the previous quarterThe female workerpopulation ratio WPR recorded an increase across all sectors rural urban and overall during JulySeptember this year compared to the previous AprilJune quarter reflecting a rise in employment official figures showedFemale participation in the labour force which is another indicator of employment also witnessed an increase to 337 per cent in JulySeptember from 334 per cent in AprilJuneThe overall Labour Force Participation Rate LFPR which reflects the level of employment increased to 551 per cent during JulySeptember 2025 compared to 55 per cent in the previous quarter for persons of age 15 years and aboveFemale participation in the labour force witnessed an increase to 337 per cent in JulySeptember 2025 from 334 per cent in AprilJune 2025The Worker Population Ratio WPR for persons aged 15 years and above exhibited a marginal increase from 52 per cent in AprilJune to 522 per cent in JulySeptemberThe increasing trend in the LFPR indicating a rise in employment continued for the third month in a row with the overall participation rate touching a 5month high of 553 per cent in September IANS https://dailyworld.in/business/indias-unemployment-rate-declines-to-52-per-cent-in-july-september-quarter-647895.html Mon, 10 Nov 2025 18:40:00 +0530 https://dailyworld.in/business/kpit-technologies-q2-net-profit-dips-17-pc-to-rs-169-crore-revenue-up-647896.html Mumbai Nov 10 KPIT Technologies on Monday reported a 17 per cent yearonyear YoY decline in its consolidated net profit for the second quarter of this fiscal Q2 FY26 at Rs 16908 crore The company which offers software development and integrated services for the automotive and mobility industries had posted a net profit of Rs 2037 crore in the corresponding quarter a year ago Q2 FY25 Its net profit slipped over 28 per cent sequentially as well from Rs 17189 crore in the first quarter of FY26The decline in profit was largely attributed to higher expenses as the companys total expenses for the quarter under review rose over 9 per cent YoY to Rs 1358 crore from Rs 12359 croreRevenue from operations however went up to Rs 15877 crore marking around 8 per cent growth YoY from Rs 14714 crore and a 31 per cent increase quarteronquarter QoQ from Rs 15387 croreThis increment was driven by robust demand from European markets despite there was a slight decline in its American businessRevenue from the UK and Europe rose 136 per cent sequentially to Rs 8283 crore offsetting a dip in the Americas where revenue fell to Rs 4424 crore from Rs 4569 crore in the previous quarterThe companys operating performance improved with EBITDA margin expanding to 211 per cent and EBIT margin at 164 per cent during the quarterAccording to its exchange filing the company has also secured a new total contract value of over 1940 crore which includes a significant multiyear partnership with a leading European automotive manufacturer to drive softwaredefined vehicle SDV transformationDespite ongoing global uncertainties we are seeing signs of renewed optimism in the mobility ecosystem Our strategic investments such as the Caresoft Engineering Solutions Business acquisition closure in Q2 and the stake increase in NDream coupled with the investment in helmai in Q3 are strengthening our foundation and expanding our capabilities said Kishor Patil Cofounder CEO and MD KPITAs the industry accelerates toward softwaredefined vehicles KPITs focus on nextgeneration technologies AIdriven solutions and deep client partnerships positions us to lead this transformation he added IANS https://dailyworld.in/business/kpit-technologies-q2-net-profit-dips-17-pc-to-rs-169-crore-revenue-up-647896.html Mon, 10 Nov 2025 18:40:00 +0530 https://dailyworld.in/business/goldman-sachs-upgrades-india-to-overweight-sees-nifty-at-29-000-by-2026-647697.html New Delhi Nov 9 Global investment bank Goldman Sachs GS has turned bullish on India upgrading its rating on Indian equities to Overweight and setting a Nifty target of 29000 by end2026 implying a potential 14 per cent upside from current levels In its latest report titled Leaning In as Growth Revives Raising India back to Overweight the global investment bank said it expects a revival in Indias growth momentum driven by supportive monetary and fiscal policies an earnings rebound and renewed foreign investor interestThe banks October 2024 downgrade which was based on stretched valuations and a slowdown in earnings has been reversed by the upgradeAccording to the report due to significant 30 billion outflows from foreign portfolios Indian equities have underperformed MSCI EM by 25 percentage points over the past year the largest difference in 20 yearsGoldman Sachs said recent trends suggest a turnaround in sentiment as valuations have cooled and foreign risk appetite improves We now see a case for Indian equities to perform better over the coming year the report notedThe investment bank said growth will be supported by the Reserve Bank of Indias easing measures including rate cuts improved liquidity and bank deregulation along with GST reductions and slower fiscal consolidation These factors it said should bolster domestic demand over the next two yearsCorporate earnings for the September quarter were better than expected leading to upgrades in select sectors GS forecasts MSCI India profits to rise from 10 per cent in 2025 to 14 per cent in 2026 supported by a stronger nominal growth environmentThe bank believes that the next phase of market gains will be led by companies in the financial consumer durables defence technology media and telecom TMT and oil marketing sectorsIt further stated that low food inflation a robust agricultural cycle GST rate reductions impending state elections and potential 8th Pay Commission wage increases are all likely to support mass consumption and raise demand and profits in consumerrelated industries IANS https://dailyworld.in/business/goldman-sachs-upgrades-india-to-overweight-sees-nifty-at-29-000-by-2026-647697.html Sun, 09 Nov 2025 15:12:00 +0530 https://dailyworld.in/business/seven-of-top-10-valued-firms-lose-rs-88-600-crore-airtel-tcs-among-biggest-losers-647722.html Mumbai Nov 9 Indias top companies saw a sharp erosion in wealth last week as seven of the ten mostvalued firms collectively lost Rs 88635 crore in market capitalisation this week dragged down by weakness in telecom and IT stocks The decline came amid a holidayshortened trading week which saw the Sensex fall 722 points 086 per cent and the Nifty 50 slip 230 points 089 per cent extending the subdued trend in equitiesBharti Airtel and Tata Consultancy Services TCS were the biggest losers Airtels market valuation tumbled Rs 30506 crore to Rs 1141 lakh crore while TCS shed Rs 23680 crore taking its market capitalisation to Rs 1082 lakh croreTogether the two companies accounted for more than half of the total wealth erosion among the top ten firmsOther major laggards included Hindustan Unilever whose valuation decreased by Rs 12253 crore to Rs 567 lakh crore and Reliance Industries which saw a decline of Rs 11164 crore settling at Rs 20 lakh croreHDFC Banks mcap dipped Rs 7304 crore to Rs 1511 lakh crore while Infosys and ICICI Bank lost Rs 2139 crore and Rs 1588 crore respectivelyHowever a few names managed to overpower the overall market weakness Life Insurance Corporation of India LIC added Rs 18469 crore in valuation reaching Rs 584 lakh crore while State Bank of India SBI gained Rs 17492 crore to Rs 882 lakh croreBajaj Finance also advanced Rs 14965 crore with its valuation rising to Rs 663 lakh croreDespite the weekly decline Reliance Industries retained its top spot as the countrys most valued company followed by HDFC Bank Bharti Airtel TCS ICICI Bank SBI Bajaj Finance Infosys LIC and Hindustan UnileverMarket watchers said the fall in largecap stocks reflected a cautious mood among investors amid global volatility and sustained foreign fund outflows Financials however continued to show relative strength cushioning broader losses in the equity market IANS https://dailyworld.in/business/seven-of-top-10-valued-firms-lose-rs-88-600-crore-airtel-tcs-among-biggest-losers-647722.html Sun, 09 Nov 2025 17:14:00 +0530 https://dailyworld.in/business/gst-20-comes-as-big-boon-for-indias-artisans--647724.html New Delhi Nov 9 The nextgeneration GST 20 rate cuts on several handicraft items from 12 per cent to 5 per cent have come as a major boon for the countrys artisans as demand for their products has gone up leading to higher earnings and also enabling them to compete with factorymade goods The tax cuts have benefited artisans producing items like woodcarved products terracotta jute handbags textile items and leather goodsThe muga silk industry of Assam operating mainly in Sualkuchi Kamrup Lakhimpur Dhemaji and Jorhat along with other sericulture clusters across the state is a legacy carried by women weavers The reduced 5 per cent GST rate on handloom and handicraft items will bring relief to weavers who can now sell in competitive markets and earn better margins It will also boost exports as niche luxury buyers may be more inclined to purchase when prices are marginally lowerThe entire handloom sector in Assam stands to gain from the GST reforms In a state with more than 1283 lakh weavers and about 1246 lakh looms the impact is farreachingThe GST rate cut on handlooms and crafts will also benefit Assam Jaapi Asharikandi terracotta Mishing handloom Pani Meteka and Bihu dhol among othersBy lightening the tax load the reforms will help build stronger markets for traditional handlooms and crafts This can potentially boost incomes and ensure that handmade Assamese textiles hold their own in an age of factorymade fabricsWest Bengal has long been known for traditional crafts and handlooms from the terracotta temples of Bishnupur to the intricate embroidery of Nakshi Kantha The GST cut from 12 per cent to 5 per cent directly benefits this sector by reducing prices and strengthening its competitiveness against machineembroidered or massproduced imitations in domestic and foreign markets such as Europe the US and JapanThe GST reduction from 12 per cent to 5 per cent is expected to lower retail prices making ecofriendly jute products such as bags more competitive against plastic or synthetic alternatives This boosts domestic demand in urban markets while also supporting exports West Bengal is the heart of Indias jute industry which provides direct employment to over 25 lakh workers in organised mills and supports about 40 lakh farming familiesMadurkathi Mats Purulia Chhau Masks Wooden Masks of Kushmandi and Sholapith Craft are the other handicraft items that will benefit from the GST rate cutsHimachals famed handloom products especially its shawls and woollen textiles are expected to get a boost as GST on these products has also been slashed from 12 per cent to 5 per cent In the Kullu valley over 3000 weavers involved in selfhelp groups produce the brightly patterned GItagged Kullu shawls These weavers are part of an estimated 1000012000 handloom artisans statewide The Kinnaur districts shawl makers and those who derive their livelihood from these handicrafts will also benefitThe Chamba rumal is a GItagged miniature handembroidered cloth made primarily by women artisans in the Chamba district of Himachal Pradesh which will see a higher demand due to the cut in GST to 5 per cent for these handkerchiefs Traditional leather slippers from Chamba are another GItagged product produced by hundreds of small cottage craft units A lower GST will make their pricing more competitive against machinemade footwear and encourage sales of indigenous chappals This will help artisans improve their marginFrom intricate wooden doors and panels to furniture carved wooden products are produced in areas like Chamba Kinnaur and Kullu This industry hires thousands of rural artisans in Himachal The new GST rates put wooden articles in the 5 per cent category which will stimulate demand for locally made wooden furniture and souvenirs It will not only make these items more affordable but also support local artisans Certain parts of Himachal which produce bamboo products such as baskets and other ecofriendly crafts will also gain IANS https://dailyworld.in/business/gst-20-comes-as-big-boon-for-indias-artisans--647724.html Sun, 09 Nov 2025 17:41:00 +0530 https://dailyworld.in/business/govt-signs-mous-with-over-50-firms-to-boost-manufacturing-startup-ecosystem-647747.html New Delhi Nov 9 The Department for Promotion of Industry and Internal Trade DPIIT has signed agreements with more than 50 companies to strengthen Indias manufacturing and innovation ecosystem for startups The initiative aims to encourage collaboration between large corporations and emerging manufacturing startups to foster innovation develop new products and create sustainable industrial growthAccording to an official DPIIT has been proactively engaging with corporates industry associations unicorns and sector veterans to highlight the importance of building manufacturingfocused incubators and the benefits of working closely with earlystage enterprisesThis is part of a larger effort to promote the startup ecosystem and encourage the industry to support innovation in manufacturing through incubators and partnerships the official notedThese collaborations are expected to provide critical support for manufacturing startups which often struggle with access to infrastructure capital and scaling opportunitiesManufacturingfocused incubators play a key role in this effort by offering pilot facilities design centres prototyping labs and shared manufacturing spaces all of which reduce the high capital investment burden faced by startupsSuch incubators also serve as an interface between startups and established industries enabling access to market opportunities risk capital and advanced technologies They can be established by corporations academic institutions or research organisationsThe DPIITs initiative is seen as a significant step toward creating a robust and collaborative manufacturing startup ecosystem supporting Indias broader goal of becoming a global hub for innovation and industrial growthDPIIT last month signed an MoU with Thermo Fisher Scientific TFS to accelerate innovation in Indias biotechnology sector and nurture a strong pipeline of highgrowth startups The partnership aims to support over 500 biotech startups in the next three years through strategic advisory technology access mentorship and investor connectAs part of the MoU TFS under Startup India DPIITs initiative Bharat Startup Grand Challenge BSGC will launch the BioVerse Challenge a nationwide platform to identify and nurture Indias most promising biotech entrepreneurs and the BioVerse Mentors Circle to provide skill development and technical training across leading bioincubators IANS https://dailyworld.in/business/govt-signs-mous-with-over-50-firms-to-boost-manufacturing-startup-ecosystem-647747.html Sun, 09 Nov 2025 19:35:00 +0530 https://dailyworld.in/business/centre-earns-rs-4-085-crore-through-sale-of-scrap-from-govt-offices-in-swachhata-drive-minister-647748.html New Delhi Nov 9 The Centre has earned as much as Rs 408524 crore through five dedicated annual cleanliness Swachhata campaigns lasting one month each since 2021 through disposal of scrap including electronic scrap from different central government offices as part of the Special Swachhata campaign Union Minister Dr Jitendra Singh said on Sunday The minister also disclosed that another significant outcome of the campaign was that 23175 lakh square feet of space has been freed for productive utility which was earlier choked and blocked with waste material worn out furniture and scrapInterestingly the amount of over Rs 4085 crore earned by selling off the scrap could be the total budget of one mega Space mission or multiple Chandrayaan Space missions while the total space freed was enough to bring up a huge mall or some other massive structure for economic activity the minister saidElaborating further Dr Singh recalled that in his very first Independence Day address Prime Minister Narendra Modi had given a call for Swachhata from the ramparts of the Red Fort Soon this turned into a mass campaign and over four lakh toilets were built in the first year itself Simultaneously he said a campaign was taken up to clear the junk of redundant office files broken furniture etc from the government officesHe said in 2021 on the advice of Prime Minister Narendra Modi it was decided that while Swachhata was an ongoing continuous movement during the month of October beginning from the Gandhi Jayanti 2nd October up to 31st October there would be a dedicated Special Swachhata campaign in which all the government Ministries and departments would be expected to actively participate and prepare regular reports of the tasks achievedFor the last three years or so Dr Singh observed that besides the conventional scrap there was also a lot of electronic scrap in the offices which could be disposed of not only to generate revenue for the State but could also be converted through recycling to generate wealth from wasteHe explained that at the end of the Special Swachhata campaign 40 last year nearly Rs 3300 crore had been earned to which Rs 78853 crore was added through this years Special Campaign 50 lasting from October 2 to October 31 2025 As a result the total amount earned so far is over Rs 4085 croreThis years Special Swachhata campaign 50 Dr Singh said also took place at a time when extensive Waste to Wealth activity has been undertaken by the Ministry of Science amp Technology This for example includes recycling of hospital waste through a technology developed by CSIRNIIST Thiruvanathapuram and deployed at AIIMS New Delhi recycling of cooked oil undertaken by CSIRIIP Dehradun and use of steel sludge for road construction through technology developed by CSIRCRRI New Delhi he added IANS https://dailyworld.in/business/centre-earns-rs-4-085-crore-through-sale-of-scrap-from-govt-offices-in-swachhata-drive-minister-647748.html Sun, 09 Nov 2025 20:06:00 +0530 https://dailyworld.in/business/centre-sets-ball-rolling-on-monetisation-of-power-transmission-assets-647753.html New Delhi Nov 9 The Central Electricity Authority CEA has circulated a concept note to the Forum of Regulators a joint body of central and state electricity regulatory commissions to outline the key aspects for monetising public sector transmission assets This proposal comes under the Acquire Operate Maintain and Transfer AOMT model of the Public Private Partnership PPP framework that was issued by the Power Ministry in 2022 It allows the temporary transfer of public transmission assets to private entities for a defined period aiming to enhance efficiency and unlock the financial value of existing infrastructure as part of the governments asset monetisation strategyThe proposed framework will be adopted by state electricity regulators to promote transmission asset monetisation It aims to help determine tariffs in a manner that provides investors with reasonable revenue certainty and transparency over project details at the time of bidding A clear and stable tariff structure is seen as essential for attracting investor confidence and ensuring financial viability for both public and private stakeholdersDuring earlier discussions state governments raised concerns about revenue certainty tax implications and payment security for intrastate transmission chargesTaking this into account the concept note observes that the initiative involves multiple complexities that need careful consideration before implementation One of the main areas of focus is the tariff structure of the assets and the impact of taxes during the process of transfer The model requires a systematic process starting from identifying the assets suitable for monetisation For those assets that come under the Regulated Tariff Mechanism RTM a demerger process will have to be carried out to create a separate Special Purpose Vehicle SPV Once the SPV is formed it must obtain a license from the respective State Electricity Regulatory Commission SERC to continue its operations under the AOMT modelTo ensure transparency and credibility in the process the concept note specifies the appointment of several external professionals A technical consultant will be engaged to perform technical due diligence of the assets ensuring they are in suitable condition for transfer An independent valuer will be responsible for conducting a financial valuation to determine the fair value of the assetsThe document also underscores the importance of detailed legal documentation to support the monetisation process Key agreements include the transfer agreement between the seller and buyer the transmission service agreement and the definition of the tenure for which the assets will remain under private operationIt observes that one of the key challenges posed by the state transmission utilities and investors is related to predictable cash flow for monetised assets Intrastate transmission projects mostly cover Real Time Market RTM assets and the electricity regulator fixes tariffs for these assets for each control block based on norms IANS https://dailyworld.in/business/centre-sets-ball-rolling-on-monetisation-of-power-transmission-assets-647753.html Sun, 09 Nov 2025 20:11:00 +0530 https://dailyworld.in/business/coal-india-aiming-to-meet-875-million-tonnes-target-for-2025-26-647754.html Kolkata Nov 9 Coal India Ltd aims to step up its production in the coming months to achieve its target of 875 million tonnes for the current financial year the public sector companys Chairman and Managing Director Sanoj Kumar Jha said on Sunday Interacting with journalists on the sidelines of an event to celebrate the 59th Foundation Day of Hindustan Copper Ltd here Jha said Today I cant say we will not meet the production target for 202526 I cant say we will meet But we will aspire that we will be able to be there or near thereThe output of CIL which accounts for 80 per cent of Indias coal production was adversely impacted during September and October this year due to the prolonged monsoon rains affecting mining operationsThe CMD was however confident that CIL would meet the coal requirement of the industry and have more stocks at the end of the year than it had at the end of the previous year Coal India has a despatch target of 900 MT for 202526CILs production declined 98 per cent to 564 million tonnes in October which was higher than the companys September production of 4897 MT as rainfall was heavier during the month However the company plans to increase production during the remaining five months of the current financial year to cover the shortfallCIL produced 781 million tonnes in FY25 The countrys total coal output including captive and commercial mines surpassed one billion tonnes in FY25 and is projected to reach 115 billion tonnes in FY26Jha who was Additional Secretary Ministry of Coal took over as ChairmancumManaging Director CIL on November 1The Coal India CMD also said that in the next six months regulations on the proposed coal exchange will be in placeThe draft rules for the countrys proposed coal exchange will be finalised by the end of November after examining feedback which has been received from the public Coal Secretary Vikram Dev Dutt said recentlyAccording to the draft rules the coal controller organisation CCO will be appointed to register and regulate the coal exchanges to be established in the country The Ministry of Coal had invited comments from stakeholders by midOctober IANS https://dailyworld.in/business/coal-india-aiming-to-meet-875-million-tonnes-target-for-2025-26-647754.html Sun, 09 Nov 2025 20:51:00 +0530 https://dailyworld.in/business/sebi-warns-investors-about-unregulated-digital-gold-e-gold-products-647567.html Mumbai Nov 8 The Securities and Exchange Board of India SEBI has issued a warning to investors regarding digital gold or egold products available online stating that all such offerings operate outside the securities regulatory framework and hold significant risks for investors This situation may expose buyers to considerable counterparty and operational risks as these products are neither classified as securities nor regulated as commodity derivativesIt has come to the notice of SEBI that some digitalonline platforms are offering investors to invest in Digital GoldEGold Products Digital Gold is being marketed as an alternative for investment in physical gold the market regulator said in a statementSEBI informed that such digital gold products are different from SEBI regulated gold products as they are neither notified as securities nor regulated as commodity derivativesThey operate entirely outside the purview of SEBI Such digital gold products may entail significant risks for investors and may expose investors to counterparty and operational risks the statement saidSEBI clarified that none of the investor protection mechanisms under securities market purview shall be available for investments in such digital gold or EGold productsVarious online platforms and jewellers are promoting digital gold with minimal investment options starting at Rs 10 or Rs 100 They are also highlighting features like anytime buysell and the ability to redeem for physical jewellerySEBI emphasised that investment in gold can be made through regulated channels including exchangetraded commodity derivatives gold exchangetraded funds from mutual funds and electronic gold receipts that can be traded on stock exchanges These investments are facilitated by SEBIregistered intermediaries and are subject to the regulators frameworkIndias gold exchangetraded funds saw 850 million in net inflows in October taking the total to a record 305 billion the highestever for a single year according to the World Gold Council data IANS https://dailyworld.in/business/sebi-warns-investors-about-unregulated-digital-gold-e-gold-products-647567.html Sun, 09 Nov 2025 00:00:00 +0530 https://dailyworld.in/business/telecom-operators-embrace-ai-to-bolster-revenues-drive-efficiency-globally-647573.html New Delhi Nov 8 Leading telecoms globally are deploying artificial intelligence AI across network operations customer service and fraud prevention to drive efficiency and reduce costs according to a new report These initiatives are already contributing to EBITDA margin gains with predictive maintenance and automated support systems leading the way according to an IDC reportAI also enables personalised offerings and dynamic pricing boosting average revenue per user ARPU and reducing churnFraud detection systems enhanced by AI are helping reduce losses reinforcing customer trust and regulatory compliance With AI accelerating timetomarket for new services telecoms can better monetize emerging technologies like 5G and edge computingIn the longer term as AI continues to evolve it will be increasingly recognized not as a mere technological enhancement but as a strategic enabler poised to drive sustainable growth for telecommunications operators said the reportMeanwhile worldwide spending on telecommunication and pay TV services is projected to reach 1532 billion in 2025 representing an increase of 17 per cent yearonyear according to the IDC reportThe latest forecast is slightly more optimistic compared to the forecast published earlier this year as it assumes a 01 percentage point higher growth of the total market valueThe regional dynamics remain mixed with inflationary effects competition and Average Revenue per User ARPU trends playing a central role in shaping market trajectories said Kresimir Alic research director Worldwide Telecom Services at IDCThe breakdown by telecom service type confirms that established trends remain intact despite adjustments to overall market forecastsMobile continues to dominate driven by rising data consumption and the expansion of M2M applications which are offsetting declines in traditional voice and messaging revenuesFixed data services are also expected to grow steadily fuelled by increasing demand for highbandwidth connectivityThe global connectivity services market is projected to grow at a compound annual rate of 15 per cent over the next five years maintaining a cautiously optimistic outlook IANS https://dailyworld.in/business/telecom-operators-embrace-ai-to-bolster-revenues-drive-efficiency-globally-647573.html Sun, 09 Nov 2025 00:05:00 +0530 https://dailyworld.in/business/centre-generates-over-6794-lakh-digital-life-certificates-for-pensioners-this-year-647575.html New Delhi Nov 8 As many as 6794 lakh digital life certificates DLCs have been generated to enhance the ease of living of pensioners so far this year of which 4042 lakh are through face authentication according to an official statement on Saturday In five days from November 15 2560 lakh DLCs have been generated of which 1562 lakh 61 per cent are through face authentication More than 37000 DLCs of pensioners above 90 years and 985 of pensioners above 100 years have been generated the statement saidThe face authentication technique can be carried out easily through smart phones anytime anywhere It enables easy DLC submission by pensioners and is particularly useful for aged and sick pensioners who do not have to visit any bank or pension disbursing authorityA nationwide DLC campaign 40 has been launched by the Department of Pension amp Pensioners Welfare in collaboration various stakeholders Pension Disbursing Banks India Post Payments Bank Pensioners Welfare Associations CGDA EPFO DoT Railways UIDAI and MeitY from November 130 2025 with the aim of touching all the pensioners in remotest corners of the countryV Srinivas Secretary Department of Pension and Pensioners Welfare inaugurated a mega camp organised by Punjab National Bank at the Sansad Marg branch hereAddressing the pensioners he highlighted the initiative taken by the government for their digital empowerment The introduction of digital modes of life certificate submission which has greatly enhanced their ease of living and is hugely beneficial to aged and sick pensionersPunjab National Bank is holding camps in 39 cities at 185 locations across the countryFace Authentication for Digital Life Certificate generation was carried out for pensioners during the mega camp The convenience of Life Certificate submission through digital modes in particular Face Authentication technique which enables Life Certificate generation Anytime Anywhere was highlighted during these DLC generations the statement added IANS https://dailyworld.in/business/centre-generates-over-6794-lakh-digital-life-certificates-for-pensioners-this-year-647575.html Sun, 09 Nov 2025 00:08:00 +0530 https://dailyworld.in/business/handloom-amp-textile-sectors-are-manipur-economys-heartbeat-guv-bhalla-647579.html Imphal Nov 8 Governor Ajay Kumar Bhalla said on Saturday that the handloom and textile sector is the heartbeat of Manipurs economy with women weavers forming its very foundation Inaugurating the Manipur International Textile Expo MANITEX2025 at Urban Haat Nilakuthi Imphal the Governor said that through the womens artistry and resilience they preserve the states heritage while shaping a sustainable future He said that the initiatives such as One District One Product ODOP PM Mitra Parks and Digital India ecommerce integration are empowering the artisans with technology innovation and market access Together these efforts are strengthening the Made in Manipur brand a mark of authenticity sustainability and excellence When we uplift our weavers we uplift communities ensuring that Manipurs legacy continues to inspire the world said the Governor Bhalla said that the MANITEX 2025 is not merely an exhibition of fabrics and designs it is a proud celebration of Manipurs identity creativity and craftsmanship Each weave tells a story of our people our culture and our enduring connection to the land From the hills to the valleys every community contributes its own unique themes colours and techniques reflecting the beautiful diversity that defines Manipurs textile heritage he stated The Governor noted that the Expo beautifully bridges tradition and innovation connecting our artisans many of them women with national and global markets It transforms skill into opportunity and heritage into livelihood reaffirming that Manipurs greatest strength lies in the hands of its weavers MANITEX stands as a shining example of how tradition can embrace modernity without losing its soul Bhalla said Organised under the theme Weaving a Sustainable Future Manipurs Handloom Heritage to Global Fashion the Expo MANITEX2025 is being held by the Department of Textiles Commerce and Industry and the Directorate of Handloom and Textiles of the Manipur government Officials said that the primary objective of MANITEX 2025 is to showcase Manipurs diverse handloom handicraft and textile products on the global stage with a strong focus on ecofriendly textiles natural dyes and sustainable weaving practices deeply rooted in Manipuri traditions During the inaugural function 3000 frame looms and accessories were distributed to weavers under the National Handloom Development Programme In addition financial assistance was provided to 60 extrainee artisans for the purchase of tool kits The Governor also released the Data Book of National and State Awardees of Manipur and unveiled the Handlooms and Textiles Calendar 2026 State Chief Secretary Puneet Kumar Goel Additional Chief Secretary Textiles Commerce and Industry and Transport Anurag Bajpai Padma Shri awardees distinguished guests officials weavers and members of the public attended the inaugural function IANS https://dailyworld.in/business/handloom-amp-textile-sectors-are-manipur-economys-heartbeat-guv-bhalla-647579.html Sun, 09 Nov 2025 00:12:00 +0530 https://dailyworld.in/business/indias-urban-transformation-must-be-driven-by-sustainability-inclusivity-innovation-manohar-lal-647585.html New Delhi Nov 8 Union Housing and Urban Affairs Minister Manohar Lal on Saturday emphasised that Indias urban transformation must be driven by sustainability inclusivity and innovation He said that by 2047 Indian urban population will be around 50 per cent of total population and for them all stakeholders will have to come together and huge investments not only from central and state governments but also from private players and individuals will help in achieving the dream of Viksit BharatTowards this goal initiatives like Dumpsite Remediation Accelerator Programme DRAP Urban Invest Window UiWIN and Knowledge Management Unit KMU will play a crucial role in building cleaner greener and more liveable cities aligning with the vision of Viksit Bharat at 2047 he said while addressing the National Urban Conclave 2025 at Yashobhoomi hereThe minister launched DRAP which is a yearlong missionmode initiative aimed at fasttracking the remediation of remaining dumpsites across urban IndiaThe programme seeks to reclaim valuable urban land for community and infrastructure development thereby advancing Indias vision of achieving Lakshya Zero Dumpsites by September 2026Currently 1428 sites are undergoing remediation and about 80 per cent of the legacy waste is concentrated in 214 sites across 202 ULBs DRAP will prioritise these highimpact locations covering approximately 88 crore MT of legacy wasteTo support the goal of Lakshya Zero Dumpsites the central government provides financial assistance to cities considering an estimate of Rs 550 per tonne for legacy waste remediationThe minister also launched the Swachh Bharat Mission Knowledge Management Unit KMUThe unit is established by the Ministry of Housing and Urban Affairs MoHUA as a dedicated unit at the National Institute of Urban Affairs NIUA the KMU will serve as a national platform for capacity building knowledge creation and institutional learning under the Swachh Bharat MissionUrban frameworkAnother major initiative launched on the occasion was the Urban Invest Window UiWIN an initiative of HUDCO under the guidance of MoHUAUiWIN will serve as a onestop investment facilitation platform for Indian cities designed to attract private investments and enable access to longtenor concessional and competitive financing from multilateral institutions such as the World Bank and Asian Development BankThe platform will also promote PPPbased urban projects to accelerate sustainable infrastructure growth IANS https://dailyworld.in/business/indias-urban-transformation-must-be-driven-by-sustainability-inclusivity-innovation-manohar-lal-647585.html Sun, 09 Nov 2025 00:21:00 +0530 https://dailyworld.in/business/india-among-worlds-top-5-oil-refining-countries-hardeep-puri-647602.html New Delhi Nov 8 Minister of Petroleum and Natural Gas Hardeep Singh Puri on Saturday said that India with its 23 worldclass refineries and a total capacity of 2582 MMTPA million metric tonnes per annum now stands among the top five refining nations in the world Indias oil refining story is a story of growth innovation and selfsufficiency From meeting domestic demand to fuelling global markets the journey has been remarkable the Minister observed in a post on XHe highlighted that in 202425 the countrys petroleum product exports reached 647 million tonnes up from 555 million tonnes in 201415Every refinery today produces BSVI fuels which are among the cleanest in the world and with new petrochemical hubs in Rajasthan and Odisha India is redefining the future of energy under PM Narendra Modis leadership the minister added He earlier said that the country is on track to reach around 310 MMTPA by 2030 with longterm plans to scale further to 400450 MMTPA to become a global refining and energy hub Addressing the inaugural session of the Energy Technology Meet recently the minister said this expansion will come at a time when around 20 per cent of existing global refining capacity faces potential closure by 2035 with over 100 refineries expected to shut down worldwide While the global energy market is expected to grow at a slow pace India stands out as a bright spot projected to contribute nearly 3033 per cent of global energy demand growth in the coming decades he added Hardeep Singh Puri also observed that Indias refineries are worldclass globally integrated and exportready India is already among the top seven exporters of petroleum products with exports to more than 50 countries valued at over 45 billion in FY 202425 The Minister underlined the importance of innovation and indigenization in Indias energy ecosystem with the country achieving nearly 80 per cent import substitution across the energy value chain The minister stressed that Indias energy strategy encompasses both fuel and petrochemical growth as part of a calibrated transition toward sustainability He said that while the share of traditional fuels will gradually reduce they will continue to play a major role for decades as India moves toward its 2047 goals IANS https://dailyworld.in/business/india-among-worlds-top-5-oil-refining-countries-hardeep-puri-647602.html Sun, 09 Nov 2025 00:35:00 +0530 https://dailyworld.in/business/kospi-experiences-record-foreign-sell-off-in-1st-week-of-nov-647642.html Seoul Nov 9 South Koreas main stock index recorded its biggestever weekly selloff by foreign investors in the first week of November as profittaking and concerns over an artificial intelligence AI stock bubble spurred a market retreat the Korea Exchange said on Sunday From Monday to Friday foreign investors dumped a net 726 trillion won US498 billion worth of shares on the benchmark Korea Composite Stock Price Index KOSPI the bourse operator said reports Yonhap news agencyThe amount marked the largest weekly selloff by foreign investors in KOSPI history surpassing the previous record of 705 trillion won in the second week of August 2021The KOSPI experienced sharp volatility last week climbing to a record high above 4200 on Monday before plunging nearly 3 percent Wednesday After a brief rebound Thursday the index shed 181 percent Friday closing below the 4000 markThe benchmark had been the fastestrising major stock index among Group of 20 nations as of Oct 27 buoyed by strong foreign buying of semiconductors and other blue chip stocks according to data compiled by Yonhap Infomax the financial arm of Yonhap News AgencyBut the rally fueled profittaking among foreign investors especially after Wall Street slumped last week amid revived fears of an AI bubble analysts saidSamsung Electronics Co the worlds biggest memory chip maker and its rival SK hynix Inc accounted for more than 70 percent of foreign selloffs last weekForeigners unloaded 15 trillion won worth of Samsung shares and 37 trillion won in SK shares data showedWith the US federal government shutdown marking the longest in history uncertainty over its economic impact has deepened said Chung Haechang an analyst at Daishin Securities Given the lack of upward momentum and investor optimism the market is likely to remain in a consolidation phase for the time beingLee Sunghoon an analyst at Kiwoom Securities noted that the recent weakness of the Korean won will also sap foreign investors appetite saying that foreign inflows are unlikely to rebound soonThe local currency fell below the psychologically crucial 1450 won threshold Friday dipping to its lowest level in nearly seven months IANS https://dailyworld.in/business/kospi-experiences-record-foreign-sell-off-in-1st-week-of-nov-647642.html Sun, 09 Nov 2025 11:24:00 +0530 https://dailyworld.in/business/market-outlook-domestic-indices-to-remain-in-consolidating-phase-amid-q2-results-inflation-data-647660.html Mumbai Nov 9 The domestic stock market is expected to remain sideways to a consolidating phase as the equity indices show mild selling pressure at a higher level in the weekly chart The coming week will be significant with multiple important macroeconomic data On the domestic front the focus will be on Indias CPI and WPI inflation figures which are expected to shed light on the inflation trend and future policy directionThis week the Nifty index closed the week at 2549230 marking a 089 per cent decline from the previous weeks close The decline took place due to ongoing selling by the foreign institutional investors FIIs despite indications of a strengthening domestic economyFading expectations of a Fed rate cut also contributed to cautious investor sentiment amid mixed global cues and sectoral weakness in IT and metals led to the declineAccording to analysts a bearishbodied candle with a lower wick and a small upper wick was formed this week indicating selling pressure at higher levelsThe price action reflects a sideways to consolidation phase as the Nifty index failed to hold its higher levels and ended the week below the 25500 mark analysts saidThis setup suggests the possibility of continued consolidation or sideways movement in the near term said Hardik Matalia of Choice BrokingThe India VIX rose by 333 per cent during the week to close at 125575 indicating a slight uptick in market volatilityIn the derivatives segment the maximum Call open interest OI is concentrated at the 2560025700 strike levels suggesting strong resistance at higher zones On the downside the maximum Put OI is seen at the 2540025300 strike levels highlighting key support areas the analyst notedMeanwhile the Bank Nifty index closed the week at 5787680 up 017 per cent from the previous weeks closeOn the weekly chart the index shows signs of indecision reflecting a tussle between buyers and sellersThe index ended the week above the 57800 mark indicating stability but a lack of clear direction Overall the setup suggests a sideways to consolidation phase until a decisive breakout occurs on either side the analyst highlighted IANS https://dailyworld.in/business/market-outlook-domestic-indices-to-remain-in-consolidating-phase-amid-q2-results-inflation-data-647660.html Sun, 09 Nov 2025 12:27:00 +0530 https://dailyworld.in/business/northeast-region-is-not-just-indias-frontier-its-now-nations-forward-face-pm-modi-647669.html New Delhi Nov 9 Prime Minister Narendra Modi on Sunday highlighted that the countrys Northeast region is not just Indias frontier it is now its forward face Responding to a media article written by Union Minister Jyotiraditya M Scindia the Prime Minister posted on X In this insightful article Union Minister JM Scindia shares his experience of visiting the North East describing its beauty and the indomitable spirit of its peopleHighlighting the North East as Ashtalakshmi the Minister explains how it is becoming Indias natural gateway to Southeast Asia He emphasises that the North East is not just Indias frontier it is now its forward face PM Modi observedThe minister has stated that as connectivity deepens the Northeast is becoming Indias natural gateway to Southeast Asia He mentions his recent visit to Assam and Meghalaya was an experience that left him deeply moved and profoundly inspiredThe breathtaking beauty of the Northeast is matched only by the warmth simplicity and indomitable spirit of its people who have left a lasting impression on me I return home from this visit with a renewed resolve to work even harder and with greater rigour for the regions progress and prosperity Scindia saidUnder the leadership of Prime Minister Narendra Modi the government of India is transforming the Northeast into a vibrant centre of connectivity culture and commerce Had it not been for his farsighted vision and ability to turn challenges into opportunities this resurgence of hope and possibility might still have remained a distant dream the minister further statedHe pointed out that as the region turns from being landlocked to landlinked one can feel the pulse of transformation where development walks hand in hand with inclusivity and dignityThe minister underlined his visit to the Mushroom Development Centre in Upper Shillong where he says as part of a quiet revolution in the heart of Meghalaya science and community have joined hands to transform rural livelihoodsEstablished in 1982 under the North Eastern Council the centre now houses the newly set up Shiitake Mushroom Production and Training Centre producing nearly 15 lakh sawdust blocks each year each capable of yielding a kilogram of shiitake mushrooms valued at up to Rs 1000 in the marketBeyond the numbers what stayed with me were the faces and stories of the farmers I met their eyes gleaming with pride as they spoke of how this initiative is driven by a purpose of creating dignified livelihoods nurturing green entrepreneurship and growing a truly atmanirbhar selfreliant Northeast envisioned by the PM Scindia added IANS https://dailyworld.in/business/northeast-region-is-not-just-indias-frontier-its-now-nations-forward-face-pm-modi-647669.html Sun, 09 Nov 2025 13:21:00 +0530 https://dailyworld.in/business/union-government-earns-about-rs-800-crore-from-scrap-material-in-nationwide-cleanliness-drive-647671.html New Delhi Nov 9 In a remarkable outcome of the Centres monthlong swachhta campaign the government has generated over Rs 800 crore by selling scraps from various ministriesdepartments The drive conducted from October 2 to 31 was the largest since the initiative began in 2021 freeing up a record 232 lakh square feet of office space and clearing 29 lakh physical files according to officialsAs per reports nearly 1158 lakh office sites were covered under the campaign coordinated by the Department of Administrative Reforms and Public Grievances DARampPGThree Union Ministers Mansukh Mandaviya K Ram Mohan Naidu and Dr Jitendra Singh supervised the massive interministerial effort that saw participation from 84 ministries and departments including Indias missions abroad said officialsThe annual cleanliness and efficiency campaign inspired by Prime Minister Narendra Modis call for Swachhata and good governance has now become a cornerstone of administrative reformSince its inception the government has earned nearly Rs 4100 crore by selling scrap material and obsolete assetsBetween 2021 and 2025 five editions of the campaign have helped institutionalise cleanliness and streamline administration The cumulative achievements include the coverage of 2362 lakh offices clearance of 16695 lakh files and freeing up 92884 lakh square feet of spaceThis years edition also focused on reducing pendency in government workCabinet ministers personally reviewed progress and interacted with officials to ensure targets were met Regular review meetings were held to track the disposal of pending files and grievancesLast month Union Minister Singh said that the government generated Rs 329671 crore from the disposal of ewaste and scrap while more than 69627 lakh sq ft of office space has been cleared and put to productive use over the last four yearsSpeaking at the launch of the Special Swachhta Campaign 50 at Nehru Park in the national capital Dr Singh said the campaign has brought visible changes in governance and public servicesHe emphasised that during earlier stages of the campaign more than 1204 lakh cleanliness sites nationwide had been cleaned and more than 13786 lakh outdated files had been removedFor their part in attaining these outcomes the minister commended the Department of Administrative Reforms and Public Grievances DARPG as well as other departmentsHe also took part in the events weeding out of outdated files a plantation drive under the Ek Ped Maa Ke Naam initiative and Shramdaan activities IANS https://dailyworld.in/business/union-government-earns-about-rs-800-crore-from-scrap-material-in-nationwide-cleanliness-drive-647671.html Sun, 09 Nov 2025 13:22:00 +0530 https://dailyworld.in/business/cii-moots-india-development-and-strategic-fund-to-boost-long-term-growth-647676.html New Delhi Nov 9 Apex business chamber CII on Sunday proposed the creation of an India Development and Strategic Fund IDSF as a sovereignbacked professionally managed institution to finance Indias longterm growth resilience and global economic security Conceived as a twinarm national fund the IDSF would mobilise patient longhorizon capital to build Indias productive capacity at home and secure critical economic interests abroad according to a CII statementThe IDSF is envisaged as comprising two distinct but coordinated arms The Developmental Investment Arm would focus on financing longgestation domestic priorities such as infrastructure clean energy logistics industrial corridors MSME scaleup education amp skilling healthcare and urban infrastructureThis arm would provide patient equity and blended finance to commercially viable projects that require longterm commitment It would act as an anchor investor crowding in pension funds sovereign wealth funds and institutional investors from India and abroad according to the statementCII has suggested that Indias existing National Investment and Infrastructure Fund NIIF could be evolved into this Developmental Arm leveraging its governance architecture and global investor baseThe Strategic Investment Arm would acquire and secure overseas assets critical for Indias longterm economic and security interests These include energy assets such as oil and gas fields LNG infrastructure and green hydrogen partnerships critical minerals such as lithium cobalt and rare earths frontier technologies including semiconductors AI and biotechnology and key global logistics and port assets This arm would give India the ability to act proactively to own rather than merely buy in critical supply chains and technologies shaping the future global economyThe industry body believes that with disciplined design and funding the IDSF could over the next two decades build a managed corpus in the range of 13 to 26 trillion by 2047 comparable in ambition and credibility to the worlds leading sovereign investorsThe proposed capitalisation roadmap includes a modest initial budgetary allocation to establish credibility followed by systematic channeling of a share of assetmonetisation proceeds from roads transmission lines ports and spectrum into the Fund instead of onetime deficit reduction Over time a portion of the Governments equity in select public sector enterprises could be transferred to the Fund turning these enterprises into instruments for Indias global expansion rather than mere disinvestment candidates according to the CII statementIn addition the Fund could issue thematic instruments such as infrastructure green and diaspora bonds to mobilise longterm domestic and international savings while coinvesting with multilateral and bilateral partners Once macroeconomic buffers are adequate a calibrated allocation of a small portion of Indias foreign exchange reserves could also be considered for overseas strategic acquisitions in areas like critical minerals and energyCII has emphasised that the Fund should retain majority ownership and strategic control with the Government of India while being run by a professional board combining senior Government representation and global investment expertise Two distinct investment committees would govern the Developmental and Strategic arms ensuring clarity of focus and accountabilityIt recommends that the Fund publish a periodic IDSF Review with a public dashboard on corpus size portfolio mix sectoral and geographic exposure and performance metricsCII director general Chandrajit Banerjee said the proposal is based on the recognition that Indias growth ambitions in infrastructure energy transition manufacturing technology and human development will require funding at a scale that cannot be met by annual budgetary allocations alone The Fund would help mobilise domestic and global savings and recycle national capital from mature assets into new productive capacity IANS https://dailyworld.in/business/cii-moots-india-development-and-strategic-fund-to-boost-long-term-growth-647676.html Sun, 09 Nov 2025 13:40:00 +0530 https://dailyworld.in/business/nifty-sensex-continue-to-decline-for-2nd-week-amid-fii-outflows-weak-global-cues-647464.html Mumbai Nov 8 Indian equity benchmarks continued their decline for the second week due to ongoing selling by the foreign institutional investors FIIs despite indications of a strengthening domestic economy Benchmark indices Nifty and Sensex dipped 071 and 165 per cent during the week to close at 25492 and 83216 respectivelyFading expectations of a Fed rate cut also contributed to cautious investor sentiment amid mixed global cues and sectoral weakness in IT and metals led to the declineSelect sectors found support from upbeat Q2 earnings with PSU banks remaining in focus due to robust financial performance improving asset quality and renewed speculation regarding a potential FDI cap hike and sector consolidation said Vinod Nair Head of Research Geojit Investments LimitedAnalysts said that buyondips strategy appears prudent as results from most Nifty 50 companies reported so far have been largely in line with estimates and continued policy support is expected to support current premium valuations and potentially drive earnings upgradesAccording to analysts a sharp decline in earnings growth in FY25 to 5 per cent stretched the valuations making Indian market one of the most expensive in the worldWith other emerging markets and some developed markets turning attractive with low valuations FIIs sold in India and moved money to other cheaper markets he addedNifty is currently trading above 20 times FY27 estimated earnings which is slightly above last 10year average PE ratio Analysts said that due to Indias superior longterm growth potential the present valuations can be justified even though the broader market valuations continue to be stretchedSupport for the Nifty is currently located close to the 25400 zone while resistance is seen around 25600 they addedMeanwhile there are signs of robust economic growth and earnings recovery in India When leading indicators reinforce this trend FIIs will reduce selling and eventually turn buyersNext week market direction will depend on upcoming domestic inflation data FII flows developments related to the US government shutdown and progress in trade negotiations involving the US India and China IANS https://dailyworld.in/business/nifty-sensex-continue-to-decline-for-2nd-week-amid-fii-outflows-weak-global-cues-647464.html Sat, 08 Nov 2025 10:14:00 +0530 https://dailyworld.in/business/gold-records-3rd-weekly-loss-amid-fading-hopes-of-us-fed-rate-cut-647470.html Mumbai Nov 8 The price of 24carat gold 10 grams dipped by Rs 670 over the week impacted by a stronger dollar and reduced expectations for another US Federal Reserve rate cut The price of 10 grams of 24carat gold closed the week at Rs 120100 down from Rs 120770 last week according to data published by the India Bullion and Jewellers Association IBJAInternational bullion remained around 4000 for the week facing pressure following Fed Chair Jerome Powells hawkish remarks even as the US Fed delivered a second 25 bps cut this yearMarket expectations for another cut in December slipped from around 90 per cent to near 60 per cent pressuring bullion while the dollar index held close to 100 and USDINR climbed toward 89Analysts said that the longest US government shutdown on record has delayed official data increasing reliance on private surveys ISM manufacturing and services PMIs fell below 50 indicating contraction while private payrolls rose by 42000 complicating the Federal Reserves outlookMeanwhile USChina trade tensions eased after US President Donald Trump and Chinese President Xi Jinping agreed to tariff trimming in exchange for Beijings fentanyl curbs renewed soybean buying and continued rareearth exports muting safehaven demandChina removed a core VAT offset for gold retailers buying via the Shanghai Gold Exchange and cut exemptions from 13 per cent to 6 per cent on some purchases prompting banks to halt new retail accounts and potentially cooling physical demand in the worlds top consumer said Manav Modi Analyst Precious MetalResearch Motilal Oswal Financial Services LtdFed liquidity support of roughly 294 billion alongside the December end of QT highlights ongoing funding stress he addedAdding a structural tailwind the US added uranium copper and silver to its critical minerals list potentially bolstering longterm demand for precious and industrial metals IANS https://dailyworld.in/business/gold-records-3rd-weekly-loss-amid-fading-hopes-of-us-fed-rate-cut-647470.html Sat, 08 Nov 2025 10:55:00 +0530 https://dailyworld.in/business/moodys-downgrades-ola-due-to-weak-financial-performance-low-liquidity-647479.html Mumbai Nov 8 Moodys Ratings has downgraded ANI Technologies Pvt Ltd the parent company of ridehailing firm Ola from B3 to Caa1 and changed the outlook to negative The downgrade is attributed to weakening financial performance reduced liquidity and an increased risk of violating loan covenants The global credit rating agency reported a decline in operating cash flows and an increase in refinancing risks due to slower revenue growth and ongoing lossesMoodys Ratings Moodys has downgraded ANI Technologies Pvt Ltds Ola corporate family rating CFR and the rating on the guaranteed senior secured term loan borrowed by OLA Netherlands BV to Caa1 from B3 The loan is guaranteed by Ola the release saidMoodys reported that ongoing operational challenges led to a higherthanexpected cash burn in the six months ending September 30 2025 decreasing cash reserves from 90 million in March 2025 and limiting headroom under the termloan covenantA covenant breach constitutes an event of default and accelerates repayment of Olas 65 million loan due December 2026 Ola must maintain cash equal to 40 per cent of the outstanding loan at least 26 million to comply with the covenant the release addedIntense competition in Indias ridehailing sector will result in continued cash burn over the next 12 months As such the company will have to rely on external funding sources to refinance its upcoming loan maturity the ratings agency saidThe ratings firm has deemed Olas liquidity weak indicating that available cash may fall substantially short of covering upcoming debt maturities and capital spending needs through December 2026Moodys said that Ola is considering options such as a potential initial public offering and selling its 364 percent stake in Ola Electric Mobility Ltd valued at approximately 90 million However it warned that these plans are subject to execution and market risksBhavish Aggarwalrun Ola Electric Mobility Ltd reported a consolidated net loss of Rs 418 crore for the JulySeptember period Q2 FY26 its exchange filing said this weekRevenue from operations dropped 43 per cent yearonyear to Rs 690 crore in Q2 FY26 down from Rs 1214 crore in Q2 FY25 indicating a substantial decline in sales for the quarter IANS https://dailyworld.in/business/moodys-downgrades-ola-due-to-weak-financial-performance-low-liquidity-647479.html Sat, 08 Nov 2025 11:50:00 +0530 https://dailyworld.in/business/govt-plans-ai-based-ekyc-global-credential-verification-in-digilocker-647497.html New Delhi Nov 8 The Ministry of Electronics and IT on Saturday announced plans for AIbased eKYC and global credential verification in the DigiLocker platform The platform has evolved from a secure document storage service into a trust layer that connects citizens with ministries and departments according to an official statementNational eGovernance Division NeGD Ministry of Electronics and IT organised the National Conference on DigiLocker to discuss and showcase how DigiLocker evolves into a cornerstone of trust convenience and efficiency across government education and industry sectorsThe conference underscored the transformative role of DigiLocker in facilitating paperless governance inclusive education and secure digital servicesDigiLocker serves as the trust layer connecting citizens ministries and departmentsenabling secure interoperable and accountable digital governance Our vision is a future where every digital interaction is trusted every citizen empowered and every institution accountable said S Krishnan Secretary of MeitY who chaired the conferenceKrishnan said that the platform advances Indias digital journey from connectivity to capability service delivery to selfreliance and now from digitalisation towards trustAbhishek Singh Additional Secretary of the Ministry of Electronics and IT outlined the future of DigiLocker with AIbased eKYC and global credential verification positioning it as a global model for paperless governancePresentations were made on integration of Digi Locker with Pension and Treasury systems in Maharashtra and with over 500 services through Sewa Setu Portal in Assam the statement notedSeven states including Assam Himachal Pradesh Madhya Pradesh Meghalaya Kerala Maharashtra and Mizoram have been recognised as DigiLocker Accelerators for their distinct achievementsDigiLocker allows citizens to access verify and share IDs financial credentials and certificates securely IANS https://dailyworld.in/business/govt-plans-ai-based-ekyc-global-credential-verification-in-digilocker-647497.html Sat, 08 Nov 2025 12:59:00 +0530 https://dailyworld.in/business/kerala-okays-rs-1-441-crore-nabard-funded-projects-to-boost-rural-and-infrastructure-sectors-647502.html Thiruvananthapuram Nov 8 The Kerala government has given inprinciple approval for infrastructure projects worth Rs 144124 crore under Tranche 31 of the NABARDs Rural Infrastructure Development Fund RIDF aimed at strengthening Keralas agricultural irrigation and rural infrastructure The National Bank for Rural and Agriculture Development NABARD is funding the infrastructure projectsThe decision was taken by the HighPowered Committee chaired by the Chief Secretary A Jayathilak which reviewed project proposals against the States normative allocation of Rs 550 crore under the trancheThe Forest Department will receive Rs 15964 crore for setting up rapid response units forest station complexes and improving office infrastructureThe Electricity Department has been allotted Rs 19970 crore to install 5689 solarpowered pumps for farmers under the Agriculture Departments schemesIn the irrigation sector the Water Resources Department has been recommended Rs 17642 crore to renovate canals under the Pazhassi and Karapuzha irrigation projectsThe Kerala Land Development Corporation will implement six projects worth Rs 261 crore in Thrissur Kollam Pathanamthitta Ernakulam and Malappuram districts to rejuvenate paddy fields and pondsThe Social Justice Department has been allotted Rs 73 crore for constructing a 250bed rehabilitation hospital and an academic block at NIPMER while the Agriculture Department will receive Rs 17614 crore for 26 Smart Krishibhavans across 12 districts infrastructure development in Alappuzhas paddy clusters and wildlife conflict mitigation works in KannurThe Department of Coastal Shipping and Inland Navigation has secured Rs 217 crore for new boat jetties at Mayyil and Mullakodi and six bridges across the TS CanalThe Kerala State Warehousing Corporation will build modern storage facilities with Rs 4492 crore and the Kerala Agro Machinery Corporation will upgrade its infrastructure for Vajra 120 power tiller production with Rs 3645 croreThe Local SelfGovernment Department has been allocated Rs 165 crore for liquid waste management and road restoration projects while the Soil Survey Department will undertake soil conservation works worth Rs 6946 croreAdditionally Rs 243 crore worth of fisheries infrastructure projects including harbour upgrades at Chellanam Cheruvathur and Manjeshwaram will be taken up under the Fisheries and Aquaculture Infrastructure Development Fund FIDF at concessional interest rates IANS https://dailyworld.in/business/kerala-okays-rs-1-441-crore-nabard-funded-projects-to-boost-rural-and-infrastructure-sectors-647502.html Sat, 08 Nov 2025 13:19:00 +0530 https://dailyworld.in/business/rural-consumption-beats-urban-demand-gdp-growth-to-reach-68-pc-in-fy26-report-647521.html New Delhi Nov 8 Rural consumption continues to outperform urban demand in the country despite income tax cuts and GST 20 reforms aimed at boosting urban consumption a report said on Saturday The report from brokerage firm Motilal Oswal Financial Services Limited MOFSL said that rural consumption outshines because of income guarantee schemes better rainfall outcomes NBFCled credit growth easing input costs and steady MSPsMOFSLs base case projection was that real GDP growth will touch 68 per cent for FY26 with a 2030 basispoint upside if tariff uncertainties abate and a nominal GDP growth projection at 9 per centIt maintained that urban consumption has recovered since implementation of GST reforms and also from Q3FY25 but rural consumption outshinedThe brokerage firm said that rural consumption has been on a steady uptrend since H2FY25 strengthening further in Q2FY26 up 77 per cent YoY to its highest level in 17 quartersThe upturn was supported by firm growth in real agri and nonagri wages higher tractor and fertilizer sales and robust farm credit Better rainfall distribution and reservoir levels boosted sowing activity while easing input costs and steady minimum support price MSP procurement helped improve farm incomes the firm highlightedRegarding rural spending the report detailed that the highfrequency October data including Eway bills petrol consumption mall footfalls and PMI readings were broadly positive in the first full month of GST 20 implementationUrban spending remained subdued through Q2 FY26 but improved after GST reforms through the festive season with jewellery demand staying firm in October despite high gold pricesRural demand is expected to remain on a steady upward trajectory underpinned by rising real wages Healthy rabi prospects coupled with lower rural inflation should help to sustain the ongoing improvement in consumption the report noted IANS https://dailyworld.in/business/rural-consumption-beats-urban-demand-gdp-growth-to-reach-68-pc-in-fy26-report-647521.html Sat, 08 Nov 2025 14:09:00 +0530 https://dailyworld.in/business/bse-places-rrp-semiconductors-8-others-in-weekly-trading-basket-with-surveillance-measures-647530.html Mumbai Nov 8 Bombay Stock Exchange BSE has imposed a new weekly trading surveillance measure on nine stocks including RRP Semiconductors to address excessive volatility following unusual price movements in the stocks The exchange announced that starting November 10 2025 new measures will apply to companies exclusively listed on BSE under specific groups that trade above Rs 100 have a 2 per cent price band and possess a priceearnings PE ratio greater than 500 or negative and that have reached the upper price band for two consecutive weeksIn continuation of our endeavour to maintain market integrity and curb excessive price movement in securities listed exclusively on the BSE trading platform a need has been felt to further strengthen the extant surveillance measures the exchange said in a statementBSE included nine stocks in this measure including Citizen Infoline Colab Platforms Dugar Housing Developments EMA India Mardia Samyoung Capillary Tubes Company Omansh Enterprises Oswal Overseas RRP Defense and RRP SemiconductorSecurities placed under this measure can only trade once a week either on Monday or the first trading day of the week within a 1 per cent price band BSE announced that identification of stocks will occur weekly on Fridays or the last trading day of the week with quarterly reviews for exiting the framework and with a minimum onemonth retentionBSE also said that the new framework will be in addition to all other prevailing surveillance measures being imposed by the exchanges from time to timeThe exchange also clarified that the shortlisting of securities under this framework is purely on account of market surveillance and should not be construed as an adverse action against the concerned company IANS https://dailyworld.in/business/bse-places-rrp-semiconductors-8-others-in-weekly-trading-basket-with-surveillance-measures-647530.html Sat, 08 Nov 2025 14:38:00 +0530 https://dailyworld.in/business/indian-smartphone-market-set-to-witness-moderate-growth-in-2025-5g-leads-647533.html New Delhi Nov 8 The Indian smartphone market is set to witness moderate growth in 2025 with shipments growing in single digits according to a new report adding that the market is poised for sustained momentum driven by 5G upgrades rising premiumisation and growing consumer demand for connected device ecosystems According to CyberMedia Research CMR Indias smartphone market grew 7 per cent yearonyear YoY growth driven by festive cheer accelerated 5G adoption and a strong premium push led by Apple Vivo and MotorolaApple led Indias smartphone market by value in Q3 2025 with 30 per cent share and Samsung followed with 22 per cent together accounting for over a bulk of the market Vivo led the 5G smartphone market with a 18 per cent market share followed by Samsung at 16 per centThe ongoing festive and yearend sales will further accelerate shipments with premium and uberpremium segments remaining key growth engines led by flagship models from Apple Samsung and OnePlus said Pankaj Jadli AnalystIndustry Intelligence Group at CMR5G smartphones accounted for 89 per cent of total shipments in the quarter up 16 per cent YoY Interestingly 5G smartphones in the Rs 6000Rs 10000 price band surged over 1600 per cent YoY underscoring rising demand for affordable 5GThe democratisation of 5G connectivity especially in the subRs 10000 segment is reshaping consumer upgrade trends and will steer the next wave of smartphone growth in IndiaThe festive season along with aggressive promotional campaigns and easy EMI schemes drove consumer upgrades reshaping Indias valueformoney and affordable 5G smartphone segment While premium smartphones continued doubledigit growth feature phones declined as users increasingly transitioned to smartphones said Menka Kumari Senior AnalystIndustry Intelligence Group IIG CMRIn Q3 2025 the 2G feature phone segment declined 14 per cent YoY while 4G feature phones declined sharply by 24 per cent YoY said the report IANS https://dailyworld.in/business/indian-smartphone-market-set-to-witness-moderate-growth-in-2025-5g-leads-647533.html Sat, 08 Nov 2025 14:40:00 +0530 https://dailyworld.in/business/nifty-midcap-150-nifty-50-emerge-as-top-performers-in-october-647547.html New Delhi Nov 8 Nifty Midcap 150 and Nifty 50 emerged as top performers across all market segments in the month of October rising 479 per cent and 451 per cent respectively a report said on Saturday All market cap segments such as large mid small and microcaps posted positive returns as the Nifty 500 climbed 429 per cent Nifty Next 50 rose 292 per cent the report from Motilal Oswal Mutual Fund saidMeanwhile the Nifty Microcap 250 and Nifty Smallcap 250 surged 393 per cent and 372 per cent respectively during the monthSectorally realty led with a 92 per cent gain on the back of sustained housing demand the release noted adding that all sectors delivered positive returnsThe midcap benchmark namely the Nifty Midcap 150 has shown growth of 321 per cent 1093 per cent amp 560 per cent in last 3 months 6 months and 1 year the fund house saidThe large cap benchmark Nifty 50 has surged 385 per cent 570 per cent and 627 per cent during the same period the release notedThe Nifty 500 rose 347 per cent 763 per cent and 450 per cent over the specific time periods it addedIT index gained 611 per cent but remains down over 11 per cent YoY Banking stocks continued to show strength with the Bank Index rising 575 per cent in October and posting 324 per cent 488 per cent and 1224 per cent growth across the 3month 6month and 1year periods the release saidDefence sustained its strong longterm trajectory rising 363 per cent in October The sector grew impressive 461 per cent 1412 per cent and 2817 per cent gains over the specified time periods the release notedThe fund house noted that inflation eased sharply supporting the RBIs decision to continue with its current policy stance while GST collections remained robust reflecting resilient domestic activity IANS https://dailyworld.in/business/nifty-midcap-150-nifty-50-emerge-as-top-performers-in-october-647547.html Sat, 08 Nov 2025 15:46:00 +0530 https://dailyworld.in/business/india-eu-reaffirm-commitment-to-comprehensive-and-balanced-trade-pact-647429.html New Delhi Nov 7 India and the European Union EU had a weeklong discussion as part of the ongoing effort for a comprehensive and balanced trade agreement the Ministry of Commerce and Industry said on Friday A team of negotiators from the EU visited India to have a comprehensive discussion on the proposed freetrade agreement FTAA senior team of negotiators from the European Union EU visited New Delhi from November 3 to 7 2025 for negotiations with Indian counterparts on the proposed IndiaEU Free Trade Agreement FTA the ministry said in a statementThe weeklong discussions were part of ongoing efforts to advance negotiations towards a comprehensive balanced and mutually beneficial trade agreementThe deliberations covered a wide range of chapters including goods services investment trade sustainable development rules of origin and technical trade barriers the statement notedAs part of the negotiations Commerce Secretary Rajesh Agrawal held detailed meetings with the European Commissions Director General for Trade Sabine Weyand to take stock of the progress achieved across negotiating tracksThe twoday stocktake meetings held on November 56 in New Delhi reviewed key outstanding issues in the IndiaEU FTA negotiations Both sides agreed to further accelerate efforts towards achieving a balanced trade agreementThe Commerce Secretary reaffirmed Indias commitment to achieving an outcome that promotes economic growth and development while ensuring a fair and balanced distribution of benefitsHe also emphasised the need for clarity and predictability in the implementation of emerging EU regulatory measures including the Carbon Border Adjustment Mechanism CBAM and the proposed new steel regulationBoth sides noted with satisfaction the substantive progress made across several negotiating areas and agreed to sustain the positive momentum The discussions helped narrow divergences and a common understanding was reached on many issuesThe importance of continued technicallevel engagement in the coming weeks was underscored to bridge remaining gaps and work towards the shared objective of concluding the IndiaEU FTA negotiations at the earliestThe negotiations and stocktake meetings reflected the strong commitment on both sides to deepen the IndiaEU partnership and to finalise an ambitious and forwardlooking agreement that fosters resilient sustainable and inclusive economic growth IANS https://dailyworld.in/business/india-eu-reaffirm-commitment-to-comprehensive-and-balanced-trade-pact-647429.html Fri, 07 Nov 2025 23:09:00 +0530 https://dailyworld.in/business/lic-has-passed-full-benefit-of-gst-rate-cut-to-customers-ceo-doraiswamy-647192.html New Delhi Nov 6 Life Insurance Corporation CEO amp Managing Director R Doraiswamy said on Thursday that the company has passed on the full benefit of the recent Goods and Services Tax GST exemption to its customers In a statement after the LICs Q2 results Doraiswamy said We at LIC have ensured that all intended benefits of GST changes are passed on to the customers This move makes life insurance more affordable for policyholders and is expected to help increase insurance penetration across India aligning with the national goal of Insurance for All by 2047The government has as part of GST 20 exempted all individual life and health insurance premiums from GST effective September 22 2025 Previously life insurance premiums were subject to GST rates of up to 18 per centLIC expects that exemptions on life insurance products will boost business volumes support topline growth and provide opportunities to optimise expensesDoraiswamy said that the value of new business at the end of Q2 FY26 for the public sector life insurer has gone up to 176 per cent versus 162 per cent last yearLIC has maintained its market leadership with an overall market share of 5941 per cent based on firstyear premium incomeLICs annual premium equivalent APE growth in the first half of FY26 was muted attributed to last years master circular and a complete revamp of products to comply with the September 30 deadline the CEO saidHe attributed the subdued performance to a high base in the previous year but expressed optimism for robust growth in the second half We are seeing good traction in the second half of the current year he addedThe company expects business to post a faster growth rate due to the GST rate cutOn the nonparticipating nonpar segment LIC reported growth but said it is not targeting a specific market share The company has been focusing on nonpar products since its listing We think with 3631 per cent we have reached enough momentum on nonpar and definitely with all the efforts we have taken in the past we hope for it to stabilise We are not exactly targeting a number Doraiswamy saidThe insurers digitalisation initiatives are progressing steadily with internal testing and pilot runs underway A new platform version is expected to launch soon and it will continue to evolve he saidLIC on Thursday reported a robust 32 per cent increase in standalone net profit to Rs 1005339 crore for the second quarter of the current financial year compared with the corresponding figure of Rs 762086 crore in the same period of the previous financial yearThe life insurers net premium income grew 55 per cent yearonyear to Rs 126 lakh crore during the JulySept quarter from 12 lakh crore in the same period last year while the solvency ratio increased to 213 per cent from 198 per cent in the yearago period IANS https://dailyworld.in/business/lic-has-passed-full-benefit-of-gst-rate-cut-to-customers-ceo-doraiswamy-647192.html Fri, 07 Nov 2025 00:36:00 +0530 https://dailyworld.in/business/france-us-germany-lead-october-fpi-inflows-in-indian-stock-market-647236.html Mumbai Nov 7 Foreign portfolio investors FPIs returned to the Indian stock markets in October reversing three months of outflows with France as the largest contributor investing 258 billion in equities and almost 152 million in debt according to NSDL data Collectively FPIs infused over 166 billion into equities in October The US and Germany were also strong buyers investing around 520 million each in equities and contributed approximately 765 million and 309 million respectively to debt instrumentsThe renewed inflows were supported by robust corporate earnings the US Federal Reserves rate cut and growing optimism over the possibility of USIndia trade talks progressing soonIreland and Malaysia also turned buyers bringing in 400 million and 342 million into equities along with 138 million and 68 million in debt Hong Kong invested 177 million in equities while Denmark and Norway injected around 100 million each the data showedSingapore recorded an equity outflow of 98 million but offset it with more than 260 million in debt purchases Other countries collectively sold over 3 billion in October the data showedForeign inflows surged alongside a robust market rally in October with the Sensex and Nifty each rising 45 per centFIIs however reversed the trend in the early week of November with analysts warning that significant short selling by foreign institutional investors FIIs is outpacing domestic institutional and retail buyingThey noted that the effectiveness of ongoing FII selling and reallocating funds to cheaper markets has encouraged additional shorting Analysts indicated that short covering might lead to a trend reversal but no immediate triggers are in sightFII selling has reduced the prices of fairly valued large caps particularly in banking and pharmaceuticals where growth prospects continue to be bright analysts said IANS https://dailyworld.in/business/france-us-germany-lead-october-fpi-inflows-in-indian-stock-market-647236.html Fri, 07 Nov 2025 10:53:00 +0530 https://dailyworld.in/business/bharti-airtel-shares-drop-following-singtel-related-block-sale-647264.html Mumbai Nov 7 The stock of Bharti Airtel went down about 448 per cent in intraday trading on Friday reaching a low of Rs 2001 following the trading of 51 crore shares in the block deal window with Singapore Telecommunications Singtel as the likely seller The transaction reportedly occurred at a floor price of Rs 2030 per share reflecting a 31 per cent discount to Airtels previous close of Rs 2095Singtel was set to offload about 08 per cent of its stake in the telecom operator according to multiple reportsThe deal is reportedly valued at around Rs 10300 crore according to the term sheet indicating that the Singtel arm assigned JP Morgan India as the sole broker to oversee the block deal and after contacting numerous institutional investors to build the book for the dealThis is the second offloading of Bharti Airtel shares by Singtel after the firm sold a 12 per cent stake in Bharti Airtel for approximately 2 billion at Rs 1814 per share in May this year Following the sale Airtels share price had risen by about 15 per cent to Rs 2095Bharti Airtel shares have gained Rs 7100 up 368 per cent over the past month and advanced by Rs 404 or 2534 per cent year to dateBharti Airtel had reported an 89 per cent yearonyear YoY jump in consolidated net profit for the JulySeptember quarter of the current financial year Q2 FY26 The companys profit rose to Rs 6791 crore compared to Rs 3593 crore in the same quarter last financial year according to its stock exchange filingIts consolidated revenue from operations grew 257 per cent YoY to Rs 52145 crore up from Rs 41473 crore in Q2 FY25 driven by strong performance across its mobile and data segments IANS https://dailyworld.in/business/bharti-airtel-shares-drop-following-singtel-related-block-sale-647264.html Fri, 07 Nov 2025 12:08:00 +0530 https://dailyworld.in/business/capital-markets-central-to-viksit-bharat-push-mfs-hold-huge-opportunity-sebi-chairman-647291.html Mumbai Nov 7 SEBI Chairperson Tuhin Kanta Pandey on Friday said that Indias sustained economic strength will be significantly driven by its capital markets which are essential for the countrys progress towards the Viksit Bharat goal and crucial for capital formation Pandey said at an event here that capital markets are instrumental in achieving the countrys developmental aspirations adding that companies have raised approximately Rs 2 lakh crore from the primary market this year indicating robust investors confidenceThere is a deep well of domestic capital waiting to be deployed Pandey said adding that SEBI is committed to simplifying and speeding up the capitalraising process enabling businesses to access funds more efficientlyWe are facilitators of capital formation and our goal is to help businesses raise capital seamlessly to power Indias growth and transformation the SEBI Chairperson saidHe characterised the regulators approach as optimum regulation which adjusts guardrails without stifling innovationWeve made several regulatory changes and will continue a consultative approach he addedPandey highlighted structural opportunities pointing out that mutual fund assets under management are below 25 per cent of GDP with urban participation at approximately 15 per cent and rural participation at 6 per centTheres huge opportunity in deepening mutual fund penetration Pandey said noting that 22 per cent of noninvestors aware of mutual funds plan to invest in the next yearThe SEBI Chairman added that the regulator will conduct a comprehensive review of shortselling and securities lending and borrowing norms to align them with global standardsPandey however admitted that Indias securities lending market is underdeveloped compared to other markets reiterating commitment to reforms aimed at enhancing transparency liquidity and investorfriendliness IANS https://dailyworld.in/business/capital-markets-central-to-viksit-bharat-push-mfs-hold-huge-opportunity-sebi-chairman-647291.html Fri, 07 Nov 2025 13:39:00 +0530 https://dailyworld.in/business/rbi-governor-says-its-not-regulators-job-to-take-decisions-for-bank-boards-647295.html Mumbai Nov 7 Stressing that Indian banks are far more mature today than they were a decade ago RBI Governor Sanjay Malhotra said on Friday that the Central Bank does not aim to micromanage things adding that no regulator should substitute for boardroom judgment and each case has to be looked at with merit by a regulated entity Addressing the State Bank of Indias SBI Banking and Economics Conclave here in the financial capital he said regulators need to keep in mind the credit and deposits expansion improved asset quality and profitability along with surge in returns on assets and equityHe further stated that we need to allow the regulated entities to take decisions based on the merits of each caseAccording to Malhotra the role of a regulator is like a gardener and Central Bank also monitors the growth of a plant and prunes unwanted growth to shape a collective orderly beautiful gardenLast month the RBI unveiled 22 measures including allowing banks to finance acquisitions increasing limits on loans against shares and laying out draft norms for transitioning to expected credit loss ECL framework for loan loss provisioningAccording to Malhotra the RBI is aiming to make rulemaking more open driven by data and evidence after due public consultation adding that supervisory actions have enabled effective backstop to moderate or prune unsustainable growth and shape a robust resilient and beautiful banking systemHe further stated that the SBI which is Indias largest public sector lender has transformed from being in loss in 2018 to now becoming a 100 billion company due to the regulatory and structural reformsThe introduction of the Insolvency and Bankruptcy Code IBC in 2016 and the resolution mechanisms established under the Pursuant Resolution Paradigm through outofcourt workout frameworks have fundamentally transformed Indias credit culture he mentioned IANS https://dailyworld.in/business/rbi-governor-says-its-not-regulators-job-to-take-decisions-for-bank-boards-647295.html Fri, 07 Nov 2025 13:57:00 +0530 https://dailyworld.in/business/gold-etfs-attract-record-net-inflows-in-india-add-850-million-in-oct-647305.html Mumbai Nov 7 Indias gold exchangetraded funds ETFs saw 850 million in net inflows in October taking the total to a record 305 billion in 2025 to date the highestever for a single year according to the World Gold Council WGC data October inflows were approximately 6 per cent lower than Septembers 911 million but it marked the secondlargest monthly inflow in AsiaContinued positive flows for the fifth consecutive month took the assets under management AUM to 113 billion as per the dataOverall global gold ETF inflows reached 82 billion in October placing the bullion market set to achieve one of its strongest years on recordIndia ranked third globally in ETF inflows during October following the US with 633 billion and China with 451 billion Japan followed India with 4995 million of inflows while France recorded 312 millionMeanwhile several European markets saw outflows led by the UK with 35 billion followed by Germany and ItalyGlobal gold ETFs total AUM rose 6 per cent monthonmonth to 503 billion by the end of October with total holdings up 1 per cent at 3893 tonnesThe price of 10 grams of 24carat gold slipped to Rs 120231 on Friday according to data published by the India Bullion and Jewellers Association IBJA amidst renewed interest in profit bookingTechnically golds key makeorbreak level stands at 3855 while silver is defending the 4670 support zone The gold has support at Rs 119870119280 while resistance is at Rs 121090121600 Silver has support at Rs 146450145750 while resistance is at Rs 148340 149280 said Rahul Kalantri VP Commodities Mehta Equities LtdAnalysts said that the dollar index has eased from its 3month peak and uncertainty around the US government shutdown is driving investors toward safehaven assets Further rising geopolitical tensions are also lending support to the golds rally IANS https://dailyworld.in/business/gold-etfs-attract-record-net-inflows-in-india-add-850-million-in-oct-647305.html Fri, 07 Nov 2025 14:17:00 +0530 https://dailyworld.in/business/how-adanis-rs-30-000-crore-bhagalpur-power-project-will-change-bihars-fortunes-forever-647327.html AhmedabadNew Delhi Nov 7 The 2400 MW Bhagalpur Power Project being developed by the Adani Group with an outlay of Rs 30000 crore marks a turning point in Bihars economic story bridging its energy gap reviving industry and creating opportunities for its 135 crore citizens For the first time in decades the state is witnessing a wave of serious private investmentThe plain fact is that for over half a century Bihar has remained on the margins of Indias industrial story Despite its demographic strength and strategic location the state has struggled to attract private investment or build a sustainable industrial baseThe data tell a sobering truth Bihars per capita GDP stands at barely 776 while its per capita power consumption 317 kilowatt hours kWh is the lowest among major Indian statesIn contrast Gujarat consumes over 1980 kWh per capita and has a GDP per capita of 3917This is not a mere coincidence Power and prosperity move together Where there is reliable electricity industries grow jobs are created and incomes riseWhere there isnt human potential migrates literally Bihar today supplies nearly 34 million workers to other states its youth are forced to seek livelihoods elsewhere because industry within the state has no power to thriveIt is against this backdrop that the Bhagalpur Pirpainti Power Project being developed by the Adani Group with an investment commitment of Rs 30000 crore takes on historic significance It is not just a project it is Bihars opportunity to plug into Indias growth grid and finally claim its share of industrial progressBihar has seen little private industrial activity in half a century In the past five years alone it has recorded virtually no new largescale projects The states dependence on agriculture remains high nearly 50 per cent of its working population is engaged in farming forestry or fishing while only 57 per cent are employed in manufacturingThe 2400 MW Bhagalpur Power Project originally conceived by the Bihar State Power Generation Company Ltd BSPGCL in 2012 was revived by the government in 2024 through a transparent ebidding process after earlier attempts failedFour credible bidders Adani Power Torrent Power Lalitpur Power Generation and JSW Energy participated Adani Power emerged as the lowest bidder at Rs 6075 per kWh a tariff lower than comparable bids in Madhya Pradesh Rs 622Rs 630 per kWhNotably no land transfer was involved The land acquired over a decade ago for the project remains fully owned by the Bihar government leased at a nominal rent under the Bihar Industrial Investment Promotion Policy 2025 After the project term it reverts automatically to the stateIn an era where investor confidence depends on transparency and governance the Bhagalpur model stands out as a template for responsible investment balancing public ownership with private efficiencyBihars electricity demand has grown sharply in recent years but supply has not kept pace The states installed generation capacity of about 6000 MW lags behind its peak demand of 8908 MW FY25 forcing it to import power from the national gridAccording to the Central Electricity Authority CEA the demand is projected to almost double to 17097 MW by FY35 Without new generation projects the state risks widening its energy deficit limiting industrial expansion weakening job creation and constraining overall growthThe Bhagalpur project can help fill this critical gap By adding 2400 MW to Bihars grid it will supply nearly onefourth of the states projected additional power needs over the next decade according to people close to the developmentMoreover infrastructure investments of this magnitude generate vast employment As housing and infrastructure expert V Suresh notes every Rs 1 crore invested in infrastructure creates 200250 manyears of employment across 70 tradesBy that metric the Bhagalpur project alone could create millions of mandays of work offering Bihars unskilled and semiskilled workers local opportunities in construction logistics operations and allied servicesAccording to people in the know a reliable power supply will also open the door to downstream industries expansion of manufacturing zones and the development of logistics and transport corridorsunlocking Bihars potential in food processing textiles engineering and MSMEsBihars challenge has never been its people it has been its power The Bhagalpur project signals a crucial shift in the states development trajectory from subsidydriven survival to investmentled growth It embodies what Bihar needs most confidence from credible investors infrastructure that scales and energy that empowersFor too long Bihars youth have left home to light up other states factories and cities The Bhagalpur project could finally begin to reverse that flow bringing power purpose and prosperity back to where they belong IANS https://dailyworld.in/business/how-adanis-rs-30-000-crore-bhagalpur-power-project-will-change-bihars-fortunes-forever-647327.html Fri, 07 Nov 2025 14:59:00 +0530 https://dailyworld.in/business/kospi-dips-nearly-2-pc-on-woes-over-valuation-us-china-trade-conflict-647345.html Seoul Nov 7 After choppy trading South Korean shares ended 18 per cent lower on Friday capping a turbulent week as bigcap tech shares lost ground amid concerns over an artificial intelligence AI bubble and renewed trade tensions between the United States and China The benchmark Korea Composite Stock Price Index KOSPI tumbled 7269 points or 181 percent to close at 395376 after touching an intraday low of 388732 reports Yonhap news agencyTrade volume was moderate at 3667 million shares worth 186 trillion won US128 billion with losers outnumbering winners 677 to 211Foreigners and institutions unloaded local shares worth 4722 billion won and 2281 billion won respectively while retail investors continued their buying spree purchasing 6959 billion wonThis week the KOSPI suffered severe volatility reaching a record high of over 4200 on Monday but plunging nearly 3 percent on WednesdayThe KOSPI started off weak tracking overnight losses on Wall Street sparked by revived fears over the stretched valuation of AIrelated shares and data showing a cooling labour marketThe Dow Jones Industrial Average fell 084 percent the techheavy Nasdaq composite dipped 19 percent and the SampP 500 went down 112 percentThe latest data from Challenger Gray amp Christmas Inc revealed that US companies announced 153074 job cuts last month marking almost a threefold increase from the same month last yearIn the early afternoon the KOSPI once tumbled over 3 percent as media reports suggested the White House has decided not to allow Nvidia to sell its latest scaleddown AI chips to China stoking concerns the trade tensions between the worlds two largest economies will once again escalate according to Seo Sangyoung an analyst at Mirae Asset SecuritiesIn addition Chinas exports decreased 11 percent in October marking the first onyear drop since March 2024 fueling concerns South Koreas exports may also decrease Seo notedIn Seoul market bellwether Samsung Electronics lost 131 percent to 97900 won and its chipmaking rival SK hynix dipped 219 percent to 580000 won dragged down by AI bubble woesLeading carmaker Hyundai Motor retreated 186 percent to 264000 won and its sister Kia dropped 17 percent to 110100 wonTop battery maker LG Energy Solution pulled back 138 percent to 463500 won and its smaller rival Samsung SDI plunged 497 percent to 306000 wonElectric equipment manufacturer HD Hyundai Electric nosedived 651 percent to 818000 won while staterun Korea Electric Power slid 434 percent to 44100 won Major power plant builder Doosan Enerbility declined 177 percent to 77900 wonDefence shares lost big with Hanwha Aerospace losing 485 percent to 932000 won and LIG Nex1 shooting down 1653 percent to 401500 wonMajor shipbuilder Hanwha Ocean was among the few gainers jumping 309 percent to 126800 wonKakao the operator of the countrys dominant mobile messenger soared 346 percent to 62800 won after delivering strongerthanexpected earningsThe local currency was quoted at 14569 won against the greenback at 330 pm sharply down by 92 won from the previous session to reach a sevenmonth lowIt marked the first time since April that the currency slipped below the psychologically crucial 1450 won threshold as foreign selling of local stocks added pressure on the currencyBond prices which move inversely to yields closed lower The yield on threeyear Treasurys rose 6 basis points to 2894 percent and the return on the benchmark fiveyear government bonds added 5 basis points to 3043 percent IANS https://dailyworld.in/business/kospi-dips-nearly-2-pc-on-woes-over-valuation-us-china-trade-conflict-647345.html Fri, 07 Nov 2025 15:26:00 +0530 https://dailyworld.in/business/india-set-to-exceed-68-pc-gdp-growth-in-fy26-cea-nageswaran-647371.html Mumbai Nov 7 Chief Economic Adviser V Anantha Nageswaran said on Friday that Indias private capital expenditure remains robust despite global uncertainty and the country is projected to achieve GDP growth exceeding 68 per cent in current fiscal FY26 Speaking at an event here he indicated a potential upward revision of GDP growth following Q2 data citing a recovery in private capital expenditure and increased foreign inflowsThe CEA noted that the first five months of the year have already seen net FDI inflows meaningfully higher than the last two years Nageswaran added that FY 202425 has been a very good year for private capex countering perceptions of slowdownNageswaran said that private capex which fell short in FY24 has rebounded strongly in FY25 indicating that the investment momentum is picking up paceThe CEA highlighted the importance of a robust regulatory and legal framework in enabling success across sectors including correcting inverted duty structuresHe said that Indias strategy should prioritise plugging into global supply chains and enhancing domestic manufacturing capabilities instead of attempting to onshore all productionNageswaran said that a USIndia tariff deal could be finalised soon He characterised Indias recent increase in consumption as primarily a supplyside expansion fuelled by strong investment momentumEarlier at the same event SEBI Chairperson Tuhin Kanta Pandey noted that Indias sustained economic strength and progress to Viksit Bharat goal will be significantly driven by its capital marketsHe also mentioned that companies have raised approximately Rs 2 lakh crore from the primary market this year indicating robust investors confidencePandey highlighted structural opportunities pointing out that mutual fund assets under management are below 25 per cent of GDP with urban participation at approximately 15 per cent and rural participation at 6 per cent IANS https://dailyworld.in/business/india-set-to-exceed-68-pc-gdp-growth-in-fy26-cea-nageswaran-647371.html Fri, 07 Nov 2025 16:59:00 +0530 https://dailyworld.in/business/indian-market-recovers-early-losses-amid-buying-in-banking-fin-services-stocks-647372.html Mumbai Nov 7 The domestic equity indices ended the session slightly lower on Friday erasing early losses due to buying in banking and fin services sectors heavyweights in afternoon trade and support from certain positive Q2 results Sensex closed at 8321628 down 9473 points or 011 per cent The 30share index opened marginally lower at 8315015 against last sessions closing of 8331101 The index remained volatile during the session hitting an intraday high and low of 8339011 and 8267095 respectively amid a mixed approach from investorsNifty 50 ended the session on 2549230 down 17 points or 007 per centDomestic equities rebounded from early losses as buying emerged at key support levels though it may be premature to call this a trend reversal amid mixed earnings cautious global cues and persistent FII outflows said analystsSelect segments found support from Q2 results with broader indices outperforming led by a sharp rally in financials especially PSU banks on account of rising investor interest driven by speculation around an FDI cap hike and sector consolidation Going forward markets will closely monitor US shutdown and tariffrelated developments with USIndia and USChina deals to assess the durability of the current momentum he addedBharti Airtel Tech Mahindra Trent HCL Tech Hindustan Unilever ITC SBI TCS Ultratech Cement and Tata Motors Passenger Vehicle settled in negative territory Tata Steel Mahindra and Mahindra ICICI Bank BEL Adani Ports Infosys and PowerGrid closed higherSectoral indices remained volatile experiencing a mixed approach from investors Nifty FMCG fell 274 points or 049 per cent and Nifty IT declined 220 points or 062 per cent Meanwhile Nifty Auto rose 153 points or 057 per cent Nifty Bank increased 322 points or 056 per cent and Nifty Fin Services ended the session 205 points or 076 per cent higherThe broader market followed suit as well Nifty smallcap 100 dipped 29 points or 016 per cent and Nifty 100 settled flat and Nifty midcap 100 surged 374 points or 063 per cent IANS https://dailyworld.in/business/indian-market-recovers-early-losses-amid-buying-in-banking-fin-services-stocks-647372.html Fri, 07 Nov 2025 16:59:00 +0530 https://dailyworld.in/business/us-india-trade-negotiations-may-see-breakthrough-by-november-end-niti-aayog-ceo-647381.html Mumbai Nov 7 NITI Aayog CEO BVR Subrahmanyam on Friday said that the ongoing USIndia trade negotiations may see a breakthrough by the end of the month adding that the country must lift its investment rate to 3536 per cent of the GDP Hopefully by the end of the month we may hear some news on that front he said at a media event here adding that the negotiations are on trackHe said the National Manufacturing Mission will be operational by November proposing sectoral clusters across 15 sectors and 75 locations to establish globallycompetitive manufacturing hubsHe opined that India needs to increase its investment rate to 3536 per cent of the GDP each year to maintain growth of 89 per cent up from the current rate of approximately 3031 per centIndias economic growth positions it as the brightest spot in the global economy he said adding that other nations will be forced to engage with India with its unique strengths of size market depth innovation capacity and talent poolThe NITI Aayog CEO emphasised the need for sustained openness consistency in policy and a strong emphasis on skilling to achieve developednation statusEven if other nations impose tariffs India must stay a worldclass open economy he saidSubrahmanyam emphasised policy priorities labelling the National Manufacturing Mission as the biggest announcement in the last budgetSubrahmanyam stated that foreign investors are increasingly drawn to Indias market and cost competitiveness However he cautioned that reducing bureaucracy is essential to enhance the ease of doing business reiterating the principle of minimum government maximum governanceIf I had just one rupee to invest Id put it on skilling and education he said emphasising the importance of human capital He pointed out that Indian students average six to seven years of schooling compared to 13 to 14 years in South Korea IANS https://dailyworld.in/business/us-india-trade-negotiations-may-see-breakthrough-by-november-end-niti-aayog-ceo-647381.html Fri, 07 Nov 2025 18:13:00 +0530 https://dailyworld.in/business/cii-meet-to-connect-international-investors-with-indias-most-promising-ventures-647391.html Mumbai Nov 7 The Confederation of Indian Industry CII on Friday said that the upcoming CII MampE Global Investor Meet will connect international investors with Indias most promising ventures through curated oneonone meetings The CII announced the launch of the investor meet at the 12th annual CII BIG Picture Summit to be held on December 12 in MumbaiThe initiative launched in collaboration with WAVES Bazaar aims to unlock the full potential of Indias media and entertainment MampE sector by integrating investment with companies to fuel the next wave of growth according to the Ministry of Information and BroadcastingWAVES Bazaar a leading platform for business networking and project pitching in the MampE sector will integrate its successful B2B meeting format and project showcases featuring initiatives from its existing projects and WAVES Film Bazaar into the CII Marketplace during the summitThe Summit themed The AI Era Bridging Creativity and Commerce will bring together leaders from government and industry to chart a roadmap for the growth and transformation of Indias Media and Entertainment MampE sectorThe Summit is being organised in collaboration with the Ministry of Information and Broadcasting Government of India Sanjay Jaju Secretary Ministry of Information amp Broadcasting and Gaurav Banerjee MD and CEO Sony Pictures Network India are chairing the SummitThe initiative is set to catalyse both global and domestic investment into Indias rapidly expanding MampE sector covering film streaming gaming animation VFX live entertainment and moreIndias MampE industry despite its rich history has thrived largely on private passion and capital CIIs Investor Meet is a major step to change that said Shibashish Sarkar Chairman of the CII Global MampE Investor SummitFor the first time were bringing global investors and Indian MampE enterprises together in a curated oneonone format This summit is not just a generic expo but a true matchmaking event aimed at showcasing Indian companies as viable exciting investments I see this as the beginning of a journey Sarkar addedThe Summit will also feature participation from WAVEX and WAVES Creatosphere contributing to a dynamic environment for startup collaboration and business growth IANS https://dailyworld.in/business/cii-meet-to-connect-international-investors-with-indias-most-promising-ventures-647391.html Fri, 07 Nov 2025 18:57:00 +0530 https://dailyworld.in/business/sensex-projected-to-touch-94-000-by-2026-end-worst-is-over-for-indian-equities-report-647393.html Mumbai Nov 7 Indian equities are expected to see incremental foreign inflows and recent market movements imply the worst of the underperformance is over presenting an opportunity for diversification away from the global AI rally a report said on Friday We are overweight Indian equities from the Asia perspective with an end2026 index target for Sensex at 94000 according to the report from HSBC Global Investment ResearchAfter underperforming Asia by 30 per cent in the past 12 months we think the worst is over for Indian equities the report said defending its upgrade to overweight IndiaHerald van der Linde CFA Head of Equity Strategy Asia Pacific reported that Indian equities are currently the biggest underweight in global emerging market GEM portfolios and only a quarter of the funds the firm tracked are overweight on IndiaIndia offers a hedge and diversification to those who feel uncomfortable with the ongoing AI rally India is likely to be an outsized beneficiary of any additional money coming into the EM region the report mentionedA potential reduction in US tariffs would likely be a big boost However risks to our upgrade include a delay to the earnings recovery further diversion of global flows into the AI theme and less domestic appetite for equities the report saidThe research firm said that valuations now are not as much of a headwind as they were a year ago adding that the Indian market now offers value compared to Chinese equitiesWe think earnings have bottomed in India and expect to see a broadbased recovery in 2026 Banks were a massive drag on growth this year but as deposits are rolled over margins will expand in the coming quarters the report saidThe technology sector is also likely to experience increasing demand Consumer names including autos are poised to benefit from GST reductions lower inflation and lower interest rates it noted IANS https://dailyworld.in/business/sensex-projected-to-touch-94-000-by-2026-end-worst-is-over-for-indian-equities-report-647393.html Fri, 07 Nov 2025 19:01:00 +0530 https://dailyworld.in/business/cost-of-home-cooked-veg-and-non-veg-thalis-declines-further-in-oct-as-prices-cool-647394.html New Delhi Nov 7 The cost of homecooked vegetarian and nonvegetarian thalis fell as much as 17 per cent and 12 per cent yearonyear in October respectively primarily because of a steep decline in the prices of vegetables and pulses a Crisil report said on Friday Potato prices slid 31 per cent on a high base wherein production in Rabi season 20242025 rose by 34 per cent onyear while tomato prices fell 40 per cent onyear on the back of higher supplies from western and southern markets according to Crisils monthly indicator of food plate costAccording to Pushan Sharma Director Crisil Intelligence onion prices fell owing to an increase in supply of stock from the rabi season 202425 ahead of the kharif crop arrivals in the market from NovemberPulses saw price corrections as well supported by an increase in imports of Bengal gram yellow pea and black gram In the medium term onion prices could see a moderate rise as excess rainfall in August and September in key producer states such as Karnataka and Maharashtra has delayed kharif transplantation and raised yield concerns Sharma mentionedPotato prices are expected to remain firm in November because of low supplies of the early rabi crop but may ease after cold storages release their stocks by midDecemberTomato prices are likely to stay soft amid continued kharif arrivals according to the reportPrices of pulses may inch up in the near term reflecting the impact of excess rainfall on kharif yields and the recent imposition of a 30 per cent import duty on yellow pea Should the government extend the import duties to other pulses prices could witness a steeper rise said SharmaThe cost of a nonvegetarian thali fell relatively less because broiler prices fell a moderate 6 per cent onyear Broilers account for about half of the thali cost Lower prices of vegetables and pulses however helped bring down the overall cost IANS https://dailyworld.in/business/cost-of-home-cooked-veg-and-non-veg-thalis-declines-further-in-oct-as-prices-cool-647394.html Fri, 07 Nov 2025 19:02:00 +0530 https://dailyworld.in/business/cpi-inflation-in-october-to-moderate-further-outlook-remains-benign-economists-647401.html New Delhi Nov 7 Based on the trends seen in the movement of essential commodities economists on Friday said that CPI inflation in October is likely to moderate further to 04 per cent06 per cent compared with 15 per cent in September supported also by a favourable base The Bank of Baroda BoB Essential Commodities Index BoB ECI continued to contract and declined by 36 per cent in October and further by 38 per cent in November up to November 6In saying so food inflation has been trending lower largely due to the continued deflation seen in vegetables category specifically TOP tomato onion and potato vegetables This in turn is supported by a significant pickup in mandi arrivals said Aditi Gupta Economist BoBIn fact Unified Portal for Agricultural Statistics UPAJ data shows that mandi arrivals of tomato onion and potato are higher by 143 per cent 305 per cent and 231 per cent respectively in the AprilOctober period over the same period last yearA similar trend is expected to persist in the coming months too as the harvesting season sets in This is likely to lend a considerable degree of downward bias to Indias overall inflation outlook Gupta notedIn fact prices of TOP vegetables have seen a sustained fall this year Prices of onion declined by 512 per cent in October marking the strongest pace of contraction since December 2020 Retail prices of tomato also declined sharply by 399 per cent in October compared with a decline of 83 per cent in SeptemberPrices of potatoes too have seen a sustained decline in the last seven months In October retail prices of potato declined by 313 per cent The CPI weighted trajectory for TOP in September based on retail prices have fallen on an aggregate basis by 295 per centAmong other items major pulses have also continued to witness a deflationary trend in October Within this group price of Tur dal has dropped most significantly by 294 per cent the largest decline since January 2018The outlook for inflation also looks benign supported by tailwinds from GST rate rationalisation and lower global commodity prices said the report IANS https://dailyworld.in/business/cpi-inflation-in-october-to-moderate-further-outlook-remains-benign-economists-647401.html Fri, 07 Nov 2025 19:47:00 +0530 https://dailyworld.in/business/mini-launches-electric-suv-countryman-se-all4-in-india-647408.html New Delhi Nov 7 British automotive brand MINI has launched the allelectric MINI Countryman SE All4 in India on Friday with deliveries to begin shortly The compact electric SUV priced at Rs 6690000 exshowroom is available as a completely builtup unit CBU and can be booked at all MINI India authorised dealerships starting FridayThe Countryman SE All4 features allwheel drive powered by a lithiumion battery with a gross capacity of 6645 kWh offering a WLTP combined range of up to 440 km DC fast charging at 130 kW charges the battery from 10 to 80 per cent in approximately 29 minutes In contrast 22 kW AC charging achieves a full charge in about 3 hours and 45 minutesThe company claimed that the car delivers 313 hp and 494 Nm of torque achieving 0100 kmh in 56 seconds and a top speed of 180 kmhWarranty and support include a standard twoyear unlimitedkilometre warranty an eightyear or 160000kilometre highvoltage battery warranty and five years of 247 roadside assistanceThe car comes with a standard twoyear unlimitedkilometre warranty and the high voltage battery is covered by a warranty for 8 years or 160000 kilometresMultiple modes in the car include the raceinspired GoKart Mode to the energysaving Green Mode or the lively Vivid Mode the release saidThe standard allwheel drive system distributes its power precisely and reliably providing the sporty SUV with sufficient grip and traction even in challenging conditions it claimedThe car features advanced assistance systems such as Cruise Control and Parking Assistant Plus with 360 degree Camera and with Comfort Access the car is lockedunlocked automatically as it recognises the key is at a distance of less than 15 metres the release saidThe company also claimed that MINI Countryman SE All4 have features such as auto startstop function brake energy recuperation active cooling air ducts and electromechanical power steering IANS https://dailyworld.in/business/mini-launches-electric-suv-countryman-se-all4-in-india-647408.html Fri, 07 Nov 2025 19:56:00 +0530 https://dailyworld.in/business/justice-ashok-bhushan-reappointed-nclat-chairperson-647421.html New Delhi Nov 7 The Centre has approved the reappointment of Justice Ashok Bhushan former judge of the Supreme Court as Chairperson of the National Company Law Appellate Tribunal NCLAT According to a notification issued by the Department of Personnel and Training DoPT the Appointments Committee of the Cabinet cleared the Ministry of Corporate Affairs proposal to extend Justice Bhushans tenure in the NCLATThe Appointments Committee of the Cabinet has approved the proposal for reappointment of Justice Retd Ashok Bhushan as Chairperson National Company Law Appellate Tribunal NCLAT in the pay scale of Rs 250000 fixed per month with effect from the date he assumes charge till attaining the age of 70 years ie till July 4 2026 the notification statedJustice Bhushan who has previously served as Chief Justice of the Kerala High Court before his elevation to the Supreme Court took over as NCLAT Chairperson in November 2021The company appellate tribunal plays a crucial role in adjudicating matters under the Companies Act Insolvency and Bankruptcy Code IBC and the Competition ActElevated as a permanent judge of the Allahabad High Court in April 2001 Justice Bhushant went on to serve as Chairman of its Higher Judicial Service Committee and led several key committees In July 2014 he was sworn in as a judge of the Kerala High Court took over as Acting Chief Justice the following month and was appointed Chief Justice in March 2015 He was elevated to the Supreme Court on May 13 2016 and during his tenure was appointed Chairman of the Ravi Beas River Tribunal in July 2020 He demitted office upon retiring from the Supreme Court on July 4 2021 IANS https://dailyworld.in/business/justice-ashok-bhushan-reappointed-nclat-chairperson-647421.html Fri, 07 Nov 2025 21:57:00 +0530 https://dailyworld.in/business/unsubstantiated-rumours-rbi-dismisses-reports-of-selling-35-tonnes-of-gold--647423.html New Delhi Nov 7 The Reserve Bank of India RBI on Friday denied social media claims that it sold 35 tonnes of gold from its reserves calling them unsubstantiated rumours In a post shared by the PIB Fact Check Unit on X the central bank clarified that no such sale had taken place and urged the public to rely only on official sources for verified informationThe RBI also advised users to refer to its official website for accurate data and updatesReserve Bank of India through PIB Fact Check Unit has debunked claims that 35 tonnes of gold have been sold by RBI from its reserves RBI cautions against unsubstantiated rumours on social media For any information pertaining to RBI please visit the official website httprbiorgin the RBI posted on its official X handleThe clarification comes amid heightened global interest and volatility in the gold market as several major central banks continue to ramp up their gold purchases Emerging market economies in particular have been increasing their gold holdings to diversify away from the US dollar a trend that gained momentum after the freezing of Russias reserve assets in 2022This strategic accumulation has pushed golds share of total global reserves to over 20 per cent reinforcing its status as a sanctionproof store of valueMeanwhile analysts note that the ongoing rally in gold prices is also linked to whats known as the debasement trade the idea that political uncertainty could weaken the dollar and fuel inflation prompting investors to turn to gold as a safe havenHowever recent market data suggests otherwise as both the US dollar and Treasury yields have remained stable contradicting the notion of a weakening currency environment IANS https://dailyworld.in/business/unsubstantiated-rumours-rbi-dismisses-reports-of-selling-35-tonnes-of-gold--647423.html Fri, 07 Nov 2025 21:59:00 +0530 https://dailyworld.in/business/pakistans-textile-sector-on-brink-of-implosion-report-646913.html New Delhi Nov 5 With decades of poor governance illconceived subsidies and structural inefficiencies the textile sector in Pakistan known to be the countrys single largest export industry now stands at the brink of implosion according to a media report The textile sector once hailed as the backbone of Pakistans economy accounting for nearly 60 per cent of total exports has in recent years seen a significant decline with exports plummeting and imports rising Maldives Insight reportedCiting data from the Pakistan Textile Council PTC the report showed that textile exports in Pakistan fell 383 per cent yearonyear in the first quarter of FY26 to 761 billion down from 791 billion in the same period last yearIn September this year the country experienced the fifth contraction in six months with exports plunging 1171 per cent to 251 billion and imports rising 1349 per cent to 1697 billionWhile industry leaders have long warned against the situation shortterm fixesrebates bailouts and energy subsidies by successive governments have just temporarily inflated export figures The measures did nothing to build sustainable competitivenessIf urgent corrective measures are not taken Pakistan risks further closures of exportoriented units and reduced foreign investment This will not only mean job losses and industrial shutdowns but also a sharp decline in Pakistans foreign exchange earnings at a time when the country cannot afford such shocks PTC Chairman Fawad Anwar was quoted as sayingMeanwhile the Federation of Pakistan Chambers of Commerce amp Industry FPCCI in its latest policy brief described an inefficient and costly logistics system that swallows 156 per cent of GDP almost double the cost in advanced economiesThis means that before a single container of garments leaves the port it is already burdened with costs that make Pakistani exports unviable the report saidWith the countrys logistical collapse it has fallen completely off the World Banks Logistics Performance Index while its regional peers like India Vietnam and Bangladesh are steadily climbingThese countries with efficient ports modern rail systems and integrated supply chains have given exporters the edge to meet deadlines cut costs and expand market share the report saidIt also cited the use of outdated technology energy crises and policy inconsistency with frequent changes in tax regimes export facilitation programmes and import restrictionsWhile policymakers speak of revival plans and energy relief packages the data the shutdowns and the layoffs all point to a collapsing industry the report said IANS https://dailyworld.in/business/pakistans-textile-sector-on-brink-of-implosion-report-646913.html Thu, 06 Nov 2025 01:52:00 +0530 https://dailyworld.in/business/ncdc-disburses-rs-49-799-crore-to-boost-indias-cooperatives-in-2025-26-646919.html New Delhi Nov 5 The National Cooperative Development Corporation NCDC has maintained its strong growth trend by disbursing a robust amount of Rs 4979906 crore to various cooperatives nationwide from April to October 2025 during the current financial year according to an official statement issued on Wednesday NCDC a statutory organisation under the Ministry of Cooperation has over the years demonstrated a strong and sustained commitment to strengthening Indias cooperative ecosystem through continuous financial supportThe Corporations disbursements have grown impressively from Rs 573551 crore in 201415 to Rs 9518288 crore in 202425 reflecting its expanding outreach across sectorsA total of Rs 482368 crore was disbursed to women cooperatives between FY 202122 and FY 202425 strengthening womens participation in the cooperative sectorCumulatively as of March 2025 NCDC extended Rs 3331179 crore financial assistance to cooperative sugar mills across IndiaNCDC has played a key role in the success of Gujarat State Cooperative Marketing Federation Limited the Lahoul Potato Growers Cooperative Society in Himachal Pradesh the Jharkhand Womens SelfSupporting Poultry Cooperative Federation and the Vitthalrao Shinde Sahakari Sakhar Karkhana in Maharashtra these cooperative models exemplify the strength and reach of Indias cooperative movementThe objectives of NCDC are promoting strengthening and developing farmer cooperatives for increasing production productivity and instituting postharvest facilitiesIt also provides assistance for the development of cooperatives in sectors of processing storage cold chain and marketing of agricultural produce and the supply of seeds fertiliser and other agricultural inputsIn addition to agricultural initiatives NCDC supports incomegenerating cooperatives across various nonfarm sectors such as weaker section activities which include dairy livestock handloom sericulture poultry fishery scheduled caste and scheduled tribes women cooperatives etcBesides NCDC provides financial assistance to the cooperative sector for their economic development and social upliftment through NCDCsponsored schemes and various GoI schemes implemented by NCDCIn addition to promoting inclusivity and equity NCDC has extended Rs 5778 crore in loans over the last four years FY 202122 to FY 202425 to SCST cooperatives ensuring that the benefits of cooperative development reach every section of societyThrough this sustained increase in financial support NCDC has broadened its developmental footprint enabling cooperatives to upgrade infrastructure strengthen value chains and diversify into highgrowth sectorsThe notable rise in disbursements reflects not only growing demand for cooperativeled development but also NCDCs enhanced institutional capacity to deliver timely and targeted credit Collectively these interventions demonstrate NCDCs pivotal role in advancing an inclusive marketresponsive and selfreliant cooperative ecosystem in India the statement added IANS https://dailyworld.in/business/ncdc-disburses-rs-49-799-crore-to-boost-indias-cooperatives-in-2025-26-646919.html Thu, 06 Nov 2025 02:42:00 +0530 https://dailyworld.in/business/pakistan-inflation-hits-2025-high-of-62-pc-amid-afghan-border-closures-646922.html New Delhi Nov 5 Pakistans inflation surged to 62 per cent in October the highest in a year amid floods and Afghan border closures affecting food supplies a recent media report said The surge was caused by floods in Punjab and ongoing closures of key trade crossings with Afghanistan especially at border points such as Torkham and Spin Boldak which disrupted food supplies and increased prices the report from Khaama Press News Agency saidAccording to the Pakistan Bureau of Statistics food prices in Pakistan rose by 18 per cent from September the report addedThe Afghanbased media house cited officials saying inflation had eased below 6 per cent by mid2025 after hitting nearly 30 per cent last year but surged again due to temporary supply shocks and base effectsIn August severe floods ravaged farmland and industrial zones across Punjab killing over 1000 people and displacing 25 million The disaster also destroyed major crops worsening supply constraints the report mentionedThe government projected inflation to remain between 5 per cent and 6 per cent in October but later admitted that flood damage and blocked trade routes with Afghanistan have increased the prices of essential goodsEconomists however said Pakistans inflationary pressures stem not only from climate shocks but also from persistent governance weaknesses and external dependence according to the reportA report in October said that Pakistans total public debt hit 286 billion by the end of the 202425 fiscal year and its borrowing has reached an unsustainable level up 13 per cent YoYThe borrowings suggest that deep structural flaws that have become the hallmark of Pakistans fiscal management it said adding that servicing debt rather than financing growth remains the single largest use of public resourcesPakistans Ministry of Finances Annual Debt Review 2025 concedes that the debttoGDP ratio has climbed to 70 per cent up from 68 per cent the previous year IANS https://dailyworld.in/business/pakistan-inflation-hits-2025-high-of-62-pc-amid-afghan-border-closures-646922.html Thu, 06 Nov 2025 02:47:00 +0530 https://dailyworld.in/business/manganese-major-moil-clocks-best-ever-october-production-of-16-lakh-tonnes-646929.html New Delhi Nov 5 Indias largest manganese ore producer MOIL continued its robust growth trajectory with the highestever October production of 16 lakh tonnes registering a growth of 91 per cent over the same month last year according to a statement issued by the Ministry of Steel on Wednesday During the first seven months of FY26 the company has recorded production of 1104 lakh tonnes which represents an 85 per cent growth over the same period of the previous yearContinuing its strong focus on exploration MOIL has achieved its highestever exploratory core drilling of 57275 metres during the period AprilOctober 2025 the statement saidThe public sector company has maintained its strong drill pace after having achieved its best ever Q2 exploratory core drilling of 21035 metres which represents a 41 per cent growth over the corresponding figure of the same quarter of the previous yearCommenting on the performance MOIL chairman and managing director Ajit Kumar Saxena said It is encouraging that the upward trend in production during the first seven months has been maintained The MOIL team is fully geared up to register yet another impressive performance in the current yearMOIL is a Schedule A Miniratna CategoryI Public Sector Undertaking that is engaged in the business of mining and supplying manganese At present the company operates its underground and opencast mines located in the Nagpur and Bhandara districts of Maharashtra and Balaghat district of Madhya PradeshThe MOIL Board has also approved the payment of an interim dividend of Rs 402 per share for the financial year 202425 during the declaration of the Q3 results This represents a 15 per cent increase over last years interim dividend of Rs 350 per shareBesides the Board approved five shafts sinking projects including two ventilation shafts for its Dongri Buzurg Mine Chikla Mine and Kandri Mine worth Rs 886 crore approximate These shafts will help the company to sustain as well as increase its existing production level in the coming years IANS https://dailyworld.in/business/manganese-major-moil-clocks-best-ever-october-production-of-16-lakh-tonnes-646929.html Thu, 06 Nov 2025 02:53:00 +0530 https://dailyworld.in/business/100-5g-labs-set-up-across-india-to-boost-6g-research-ecosystem-govt-646930.html New Delhi Nov 5 India has set up 100 5G labs across the country to develop use cases and enhance the 6G research and development ecosystem the Department of Telecommunications DoT said on Wednesday The governments collaborative platform Bharat 6G Alliance has also signed 10 international collaborations with global 6G bodies aiming for a 10 percent share of global 6G patents by 2030 an official statement saidNeeraj Mittal Secretary Telecom made these comments as DoT led the thematic session on Digital Communication at the Emerging Science Technology and Innovation Conclave hereMittal emphasised that is the bedrock of all productive activity and that Indias telecom revolution has a direct bearing on national economic growth adding that India has achieved one of the fastest 5G rollouts globallyThe 100 5G labs will position the nation for leadership in 6G technologies he said Mittal highlighted that the Governments approach to nextgeneration communication is multipronged supporting research and development encouraging domestic manufacturing and building strong bridges between academia industry and governmentHe informed that over 100 RampD projects dedicated to 6G are currently being supported with a focus on advancing Open RAN indigenous chipsets AIbased intelligent networks and regulatory sandboxes to foster innovationThe event featured discussions on private networks and Indias telecom goals from industry leaders and a panel discussion on advancing indigenous technologiesThe panel also explored extending the 5G ecosystem in India advancing indigenous PNT through the NavIC L1 signal and building disruptive technology stacks from D2M to 6GESTIC 2025 took place from November 3 to 5 attracting over 3000 participants from from academia research institutions industry and government along with Nobel laureates eminent scientists innovators and policymakers IANS https://dailyworld.in/business/100-5g-labs-set-up-across-india-to-boost-6g-research-ecosystem-govt-646930.html Thu, 06 Nov 2025 02:53:00 +0530 https://dailyworld.in/business/keralas-milma-signs-mou-to-export-dairy-products-to-australia-new-zealand-646932.html Thiruvananthapuram Nov 5 The Kerala Cooperative Milk Marketing Federation KCMMF popularly known as Milma on Wednesday signed a tripartite Memorandum of Understanding MoU to export its products to Australia and New Zealand expanding its overseas footprint beyond the Gulf markets Milma the brand name of the Kerala Cooperative Milk Marketing Federation is a leading dairy cooperative known for its wide range of highquality milk and milk productsFounded to support dairy farmers Milma ensures fair returns to producers while maintaining strong consumer trust in quality and ethical sourcingThe agreement was signed here by KCMMF Managing Director Asif K Yusuf RG Foods Executive Director Vishnu G and Midnightsun Global proprietor Bindu Ganesh Kumar in the presence of Milma Chairman K S ManiUnder the MoU RG Foods will handle the complete logistics chain from product pickup at Milmas facilities to transportation customs clearance and freight forwarding while ensuring compliance with the import laws of the destination countriesMidnightsun Global will act as a coordinating partner to facilitate operations and execution without holding ownership rights over the productsCalling the agreement a milestone in Milmas overseas market outreach Mani said the brands products have already gained strong acceptance in major Gulf countries particularly among nonresident Keralites NRKsBoth Australia and New Zealand have sizeable NRK populations making them promising markets for Milmas products he addedYusuf said the first phase of exports will include paneer payasam mix and dairy whitener with plans to expand the range in future phases Milma will manufacture and package products in compliance with the specifications and international quality standards set under the agreementAccording to the terms RG Foods will bear all expenses related to logistics customs and distribution along with all associated export and transit risksMani also noted that the biggest beneficiaries of Milmas market expansion are its member dairy farmers with the cooperative passing on 925 per cent of its profits to farmers last yearMilma has reported a consolidated turnover of Rs 4327 crore for FY 202425 IANS https://dailyworld.in/business/keralas-milma-signs-mou-to-export-dairy-products-to-australia-new-zealand-646932.html Thu, 06 Nov 2025 02:54:00 +0530 https://dailyworld.in/business/dlc-campaign-40-over-55-lakh-digital-life-certificates-generated-in-first-4-days-646942.html New Delhi Nov 5 More than 52 lakh digital life certificates have been generated since the beginning of the nationwide Digital Life Certificate DLC Campaign 40 on November 1 said Union Minister of State Independent Charge for Public Grievances Dr Jitendra Singh on Wednesday Speaking at its formal launch in the national campaign Singh said that the campaign marks a significant step in the governments drive to simplify life certification for pensioners especially the super seniorsThe monthlong DLC campaign 40 which began on November 1 and will continue till November 30 has already seen over 55 lakh Digital Life Certificates generated within the first four days against the monthlong target of two crore Singh saidCampaign 40 aims to cover nearly 2000 districts cities and towns across the country through 2500 camps and coordinated by 1250 nodal officersThe initiative adopts a saturation approach to ensure that every pensioner irrespective of location or mobility constraints can submit their life certificate seamlessly said the Ministry of Personnel Public Grievances and PensionsThe DLC Campaign 40 is being conducted in collaboration with 19 Pension Disbursing Banks India Post Payments Bank IPPB Pensioners Welfare Associations UIDAI MeitY EPFO Railways CGDA and the Department of Telecommunications to reach every pensioner across the country including those in remote and rural areas the Ministry saidThis year special emphasis is being laid on promoting Face Authentication Technology developed with full technical support from MeitY and UIDAI to make the process more seamless and convenient for the elderly the Ministry addedMeanwhile Singh stated that during the DLC Campaign 30 last year 5273 lakh DLCs were submitted using face authentication while 7264 lakh were from EPFO pensionersCampaign 30 of last year was conducted in 1984 locations across 845 districts and cities in November 2024 during which 162 crore DLCs were generated including 4978 lakh from Central Government pensioners Of these over 85200 were from pensioners above 90 years and more than 2200 were from pensioners aged above 100 years Singh saidHe noted that the idea behind introducing a Digital Life Certificate was born out of empathy for the elderlyIt appeared inhuman to ask senior citizens to physically prove that they are alive to receive their pension he said adding that the government turned this challenge into an opportunity to introduce biometric and face authentication technologies for a noble causeThe Minister highlighted that the initiative has evolved into a global success story with the unique experiment in governance now being studied internationally IANS https://dailyworld.in/business/dlc-campaign-40-over-55-lakh-digital-life-certificates-generated-in-first-4-days-646942.html Thu, 06 Nov 2025 03:03:00 +0530 https://dailyworld.in/business/air-india-issues-alert-for-flyers-over-delays-in-flights-646943.html New Delhi Nov 5 Air India on Wednesday alerted its passengers that the departure of some of the airlines flights will be delayed due to a thirdparty connectivity network issue that had impacted checkin systems at some airports The Tata Group airline said the system has now been restored However some of the Air India flights may continue to be delayed for some time as the situation normalises progressively according to a statementPassengers flying with us today may check their flight status on httpsairindiacominenmanageflightstatushtml before heading to the airport and allow extra time for their journey the Air India statement saidMeanwhile Air India had said on Tuesday that it was operating a relief flight to ferry the passengers of the San FranciscoDelhi flight which was diverted to Mongolia due to a suspected technical issueAir India flight AI174 operating from San Francisco to Delhi via Kolkata on November 2 made a precautionary landing at Ulaanbaatar after the flight crew suspected a technical issue en routeThe airline further said that along with local authorities and the Indian Embassy in Mongolia it has been looking after the passengers and crew including providing them with hotel accommodationGuests have been kept informed about the arrangements being made to fly them to Delhi At Air India the safety and wellbeing of our passengers and crew remain top priority an Air India spokesperson saidThe airline had said in an earlier statement that the aircraft landed safely at Ulaanbaatar and was undergoing the necessary checksIn the meantime Air India has been granted a temporary extension of flight duty time for twopilot Boeing 787 Dreamliner planes flying on European routes which have become longer due to the closure of Pakistani airspace the Directorate General of Civil Aviation DGCA said last weekThe extension was based on specific operational reasons linked to planes on European routes having to undertake longer flight paths following the shutdown of Pakistans airspace according to the civil aviation regulatorFor twopilot Boeing 787 operations the Flight Duty Time Limitation FDTL has been extended to 10 hours and 30 minutes from 10 hours and the Flight Duty Period FDP increased to 14 hours from 13 IANS https://dailyworld.in/business/air-india-issues-alert-for-flyers-over-delays-in-flights-646943.html Thu, 06 Nov 2025 03:05:00 +0530 https://dailyworld.in/business/science-rampd-advanced-materials-key-pillars-for-viksit-bharat-2047-csir-646944.html New Delhi Nov 5 Science research and development and advanced materials are the key pillars for Viksit Bharat 2047 said Dr Mrs N Kalaiselvi Director General Council of Scientific and Industrial Research CSIR on Wednesday Speaking at the technical session hosted by CSIR on Day 3 of the Empowering Science Technology and Innovation Conclave ESTIC 2025 in the national capital Kalaiselvi highlighted Indias advancements in advanced materials and manufacturingDuring the plenary session Kalaiselvi featured a diverse range of discussions on how advanced materials are redefining product realization industrial design and sustainabilityBreakthroughs in materials science clean energy biotechnology and emerging technologies will shape the countrys growth trajectory With CSIR and Indias premier scientific institutions leading cuttingedge research India is laying the foundation for a technologically empowered selfreliant and innovationdriven future she saidKalaiselvi added that ESTIC 2025 serves as an impactful platform where ideas science and advanced technologies intersect accelerating the realisation of a futureready and knowledgepowered BharatProf Giridhar Udapi Rao Kulkarni Former President JNCASR Bengaluru explained how the world is moving from matter to materials from raw elements to engineered structures designed with precision performance and purposeFrom semiconductors and composites to smart polymers advanced materials are unlocking nextgeneration technologies and realworld products powering Indias transformation from a Stone Age mindset to the Age of Technology Kulkarni saidWith nanoscale precision shape control and dimensional engineering scientific innovation can drive manufacturing breakthroughs that accelerate Indias vision for Viksit Bharat 2047 encapsulated in the continuum science that will lead to innovation manufacturing and then the product he addedThe session brought together leading scientists innovators and entrepreneurs to discuss transformative technologies shaping the nations innovation ecosystemESTIC 2025 with the theme Imagine Innovate Inspire has brought over 3000 participants from academia research institutions industry and government along with Nobel laureates eminent scientists innovators and policymakers IANS https://dailyworld.in/business/science-rampd-advanced-materials-key-pillars-for-viksit-bharat-2047-csir-646944.html Thu, 06 Nov 2025 03:06:00 +0530 https://dailyworld.in/business/mahindras-commercial-ev-manufacturer-surpasses-3-lakh-sales-milestone-646947.html New Delhi Nov 5 Subsidiary of Mahindra amp Mahindra Ltd Mahindra Last Mile Mobility Ltd informed on Wednesday that it has sold over 3 lakh electric commercial vehicles and claimed it is the first original equipment manufacturer in India to achieve this milestone The company also reported that it sold 1 lakh vehicles in just 12 monthsMahindras fleet of electric vehicles including the Treo range Zor Grand eAlfa threewheelers and Mahindra ZEO fourwheeler which have collectively covered over 5 billion kilometres and offset more than 185 kilotonnes of carbon dioxide equivalent to planting over 43 million trees the company saidThrough its early focus on EVs and concerted efforts to electrify the last mile mobility MLMML has been continuously working with multiple partners to develop the ecosystem thereby increasing customer adoptionThrough continuous innovation and incorporating customer feedback MLMML launched new and upgraded products in the last couple of years such as the Treo Plus sheet metal eAlfa Plus Zor Grand Range Plus and Mahindra ZEOWe are not just manufacturing EVs we are enabling livelihoods and shaping a cleaner future Through innovationdriven products we continue to strengthen our commitment to making electric mobility practical and accessible to everyone said Suman Mishra Managing Director and CEO of Mahindra Last Mile MobilityMLMML added that its customerfocused UDAY NXT programme offers benefits such as a Rs 20 Lakh driver accidental insurance cover and financial counsellingMLMML said that it recently introduced the refreshed NEMO platform on iOS Android and Web which enables drivers and fleet managers to remotely manage and monitor their vehiclesKey new features include multivehicle management within a single app geotracking service booking roadside assistance RSA extensive charging network locations and more the company noted IANS https://dailyworld.in/business/mahindras-commercial-ev-manufacturer-surpasses-3-lakh-sales-milestone-646947.html Thu, 06 Nov 2025 03:08:00 +0530 https://dailyworld.in/business/woman-allegedly-cheats-srinagar-jewellers-of-lakhs-of-rupees-646964.html Srinagar Nov 5 A woman fraudster allegedly cheated several jewellers in Srinagar of lakhs of rupees local dealers said on Wednesday According to the goldsmiths the woman has cheated several gold and copper dealers of valuables worth lakhs of rupees through deception and fake chequesAddressing a press conference here the dealers said that at least three jewellers ShaheHamdan Ornaments at Lal Bazar Maqdoomi Zevraat near Nawa Kadal and Zarger Jewellers at Soura have fallen victim to the same fraudster over the past few monthsThe goldsmiths said that the incidents took place between late July and late August this year involving losses amounting to more than Rs 17 lakh in totalDocuments displayed at the press briefing indicate that the accused posing as a customer would visit jewellery shops claiming she wished to show ornaments to her family before confirming the purchaseAfter gaining the shopkeepers trust she would take the ornaments and promise to return shortly only to switch off her phone and disappear In one case ShaheHamdan Ornaments at Lal Bazar reported a loss of ornaments worth around Rs 5 lakh on August 21The shops owner filed an FIR the next day at Lal Bazar Police StationMaqdoomi Zevraat near Kani Mazar Nawa Kadal suffered a similar fraud on August 8 with losses of approximately Rs 5 lakhThe complainant submitted a report to Police Post Bagiyas SrinagarZarger Jewellers at Soura reported being duped of ornaments worth Rs 7 lakh on July 29 The owner after approaching the Soura Police Station said the police had promised action and were verifying detailsAll three victims provided photographs video footage and fake bank cheques allegedly linked to a person identified as Ajaz Ahmad Khan described in documents as a historysheeter and gang memberThe cheques were reportedly used by the accused woman to convince shopkeepers of her authenticity before fleeing with the goods Police have initiated investigations into the matterThe victims appealed to the authorities at the press conference that efforts be made to recover the amount fraudulently taken by the imposter IANS https://dailyworld.in/business/woman-allegedly-cheats-srinagar-jewellers-of-lakhs-of-rupees-646964.html Thu, 06 Nov 2025 03:44:00 +0530 https://dailyworld.in/business/sensex-nifty-post-mild-gains-amid-positive-global-cues-647001.html Mumbai Nov 6 Indian benchmark indices opened in green on Thursday amid positive global cues led by gains in automobile stocks As of 925 am the Sensex was up 324 points or 039 per cent at 83783 and the Nifty edged up 67 points or 026 per cent to 25664The broadcap indices performed in contrast with benchmarks with the Nifty Midcap 100 down 010 per cent and the Nifty Smallcap 100 losing 024 per centAsian Paints SBI LampT NTPC were among the major gainers in the Nifty Pack while losers included Hindalco Shriram Finance Bajaj Finance Apollo Hospitals and Dr Reddys LabsAmong sectoral indices except for Nifty Media Nifty Metal and Financial Services all indices were in the green Nifty Auto was the major gainer up 091 per cent while FMCG gained 077 per cent Nifty Metal lost 101 per centIndia Incs secondquarter FY26 earnings season delivered a strongerthananticipated performance with a 14 per cent yearonyear earnings rise by companies in key sectors especially midcapsBrokerages noted that earnings upgrades outpaced downgrades after several quarters indicating rising confidence in corporate profitabilityAnalysts expect the resumption of sustained selling by FIIs and increasing FII short positions to weigh on markets for the near termThe holiday on Wednesday shielded the Indian market from mild turbulence in global markets The US Supreme Courts hearing on Donald Trump tariffs will be in focus for the markets in the coming days Observations by some judges that President Trump had overstepped his authority is a significant development said Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LimitedIf the final verdict is on these lines markets would be volatile with emerging markets especially India rallying smartly he addedAnalysts placed immediate resistance at 25700 followed by 25450 and 25800 On the downside support levels are identified at 25450 and 25500The US markets ended in the green zone overnight as Nasdaq added 046 per cent the SampP 500 moved up 017 per cent and the Dow lost 048 per centMost of the Asian markets were trading in the green during the morning session While Chinas Shanghai index added 088 per cent and Shenzhen inched up 139 per cent Japans Nikkei advanced 145 per cent while Hong Kongs Hang Seng Index added 169 per cent South Koreas Kospi added 158 per centOn the last trading session on Tuesday foreign institutional investors FIIs sold equities worth Rs 1883 crore while domestic institutional investors DIIs were net buyers of equities for the seventh straight session purchasing shares worth Rs 3516 crore IANS https://dailyworld.in/business/sensex-nifty-post-mild-gains-amid-positive-global-cues-647001.html Thu, 06 Nov 2025 12:45:00 +0530 https://dailyworld.in/business/panel-formed-to-finalise-new-wage-pact-for-tns-tiruppur-knitwear-workers-647008.html Chennai Nov 6 All associations representing manufacturers and exporters in the knitwear sector in Tiruppur Tamil Nadu have come together to form a joint committee to negotiate a new wage agreement with trade unions The decision follows the expiry of the previous fouryear wage pact which ended in September 2025The knitwear hub often referred to as the Knitwear Capital of India sustains nearly 22500 companies and provides employment to about 10 lakh workers including a large number of migrant labourersTraditionally all manufacturers associations in the region jointly negotiate a collective wage agreement with trade unions once every four years to ensure uniformity across the industry With the previous agreement expiring trade unions had been pressing for the immediate commencement of talks to revise wages and benefits Responding to this representatives from six major industry associations met earlier this week and unanimously decided to establish a joint committee to handle all discussions and negotiations related to the new pactThe newly formed committee will include administrators from key associations such as the Tiruppur Exporters Association TEA and the South India Hosiery Manufacturers Association SIHMA among othersThe panel is expected to hold its first round of talks with trade unions on November 20 Officials said the new agreement would be finalised within two months with elections to fill the remaining positions on the committee to be completed shortlyMeanwhile trade unions are preparing detailed proposals seeking significant increases in wages and allowances citing inflation and rising living costs They have demanded that both skilled and unskilled workers receive proportionate hikes with revisions to timebased and piecerate pay structuresIn addition to higher basic wages the unions are also pushing for enhanced benefits such as increased travel and tiffin allowances better housing and educational support and full implementation of statutory employee welfare schemes like the Employees State Insurance ESI and Provident Fund PFIndustry sources indicate that the negotiations are expected to be intense as manufacturers are balancing global market competitiveness with rising domestic labour costs However both sides have expressed optimism that a mutually beneficial agreement can be reached before the end of the year ensuring stability in one of Indias most vital exportoriented industries IANS https://dailyworld.in/business/panel-formed-to-finalise-new-wage-pact-for-tns-tiruppur-knitwear-workers-647008.html Thu, 06 Nov 2025 12:51:00 +0530 https://dailyworld.in/business/india-q2-earnings-exceed-expectations-led-by-midcap-outperformance-647013.html Mumbai Nov 6 The FY26 earnings season in the second quarter Q2 exceeded expectations driven by strong midcap performance despite some weakness in select smallcap pockets industry data showed Brokerage Motilal Oswal Financial Services reported a 14 per cent yearonyear earnings rise among companies that have declared results so far broadly in line with expectationsLargecap earnings rose 13 per cent in line with the broader universe while midcaps again outperformed expectations with a 26 per cent surge supported by technology cement metals PSU banks real estate and nonlending NBFCsSmallcaps lagged at 3 per cent growth as private banks nonlending NBFCs Technology Retail and Media weighed on performance Even so 69 per cent of smallcaps met or beat forecasts compared with 84 per cent of largecaps and 77 per cent of midcaps the data showedSectoral performance analysis showed that oil and gas and cement sectors showed highest sectoral gains as staterun fuel retailers led with a 79 per cent increase in profits while cement profits surged by 147 per centAlong with these sectors technology profits rose by 8 per cent capital goods by 17 per cent and metals by 7 per cent collectively accounting over 80 per cent of incremental profit growthEarnings for 27 Nifty firms that have reported results increased by 5 percent yearonyear driven by HDFC Bank TCS JSW Steel and Infosys while Coal India Axis Bank HUL Kotak Mahindra Bank and Eternal dragged performance Seven Nifty constituents fell short of estimates five exceeded forecasts and 15 met expectationsEarnings upgrades outnumbered downgrades for the first time in several quarters signalling a healthier market backdrop and improving confidence in India Incs profitability trajectory the MOFSL report saidWhile headline indices remain rangebound after a muted year underlying fundamentals are improving supported by moderating earnings cuts diversified sectoral leadership and robust midcap resilience it added IANS https://dailyworld.in/business/india-q2-earnings-exceed-expectations-led-by-midcap-outperformance-647013.html Thu, 06 Nov 2025 12:54:00 +0530 https://dailyworld.in/business/india-q2-fy26-earnings-exceed-expectations-led-by-midcaps-data-647014.html Mumbai Nov 6 The FY26 earnings season in the second quarter Q2 exceeded expectations driven by strong midcap performance despite some weakness in select smallcap pockets industry data showed Brokerage Motilal Oswal Financial Services reported a 14 per cent yearonyear earnings rise among companies that have declared results so far broadly in line with expectationsLargecap earnings rose 13 per cent in line with the broader universe while midcaps again outperformed expectations with a 26 per cent surge supported by technology cement metals PSU banks real estate and nonlending NBFCsSmallcaps lagged at 3 per cent growth as private banks nonlending NBFCs Technology Retail and Media weighed on performance Even so 69 per cent of smallcaps met or beat forecasts compared with 84 per cent of largecaps and 77 per cent of midcaps the data showedSectoral performance analysis showed that oil and gas and cement sectors showed highest sectoral gains as staterun fuel retailers led with a 79 per cent increase in profits while cement profits surged by 147 per centAlong with these sectors technology profits rose by 8 per cent capital goods by 17 per cent and metals by 7 per cent collectively accounting over 80 per cent of incremental profit growthEarnings for 27 Nifty firms that have reported results increased by 5 percent yearonyear driven by HDFC Bank TCS JSW Steel and Infosys while Coal India Axis Bank HUL Kotak Mahindra Bank and Eternal dragged performance Seven Nifty constituents fell short of estimates five exceeded forecasts and 15 met expectationsEarnings upgrades outnumbered downgrades for the first time in several quarters signalling a healthier market backdrop and improving confidence in India Incs profitability trajectory the MOFSL report saidWhile headline indices remain rangebound after a muted year underlying fundamentals are improving supported by moderating earnings cuts diversified sectoral leadership and robust midcap resilience it added IANS https://dailyworld.in/business/india-q2-fy26-earnings-exceed-expectations-led-by-midcaps-data-647014.html Thu, 06 Nov 2025 12:54:00 +0530 https://dailyworld.in/business/ola-electric-posts-rs-418-crore-net-profit-loss-in-q2-revenue-slips-43-pc-647027.html New Delhi Nov 6 Bhavish Aggarwalrun Ola Electric Mobility Ltd reported a consolidated net loss of Rs 418 crore for the JulySeptember period Q2 FY26 its exchange filing said on Thursday as revenue slipped Revenue from operations dropped 43 per cent yearonyear to Rs 690 crore in Q2 FY26 down from Rs 1214 crore in Q2 FY25 indicating a substantial decline in sales for the quarterHowever the electric twowheeler makers operating EBITDA loss narrowed to Rs 203 crore during the quarter from Rs 379 crore a year earlier indicating improved cost efficiencyThe companys auto segment delivered an EBITDA margin at 03 per cent by reducing Auto operating expense from Rs 308 crore to Rs 258 crore onquarter the release saidAfter the announcements of the results Ola Electrics stock fell to Rs 494 on the NSE down 66 paise during intraday trade posting a decline of 132 per cent from the previous closeFor the Auto segment we expect lower volumes than the Q1 guidance as we continue to focus on margin and cash discipline in a hyper competitive market the company said in its filingFor H2 FY26 Ola Electric targets total deliveries of approximately 100000 units This moderation in unit volumes will be complemented by volumes from its new vertical beginning in Q4 the company addedThe company recorded sales of 16034 escooters in October marking a 61 per cent decline from 41843 units sold in the same month last year according to data from the governments Vahan portalOn a fullyear basis we now expect FY26 consolidated revenue of around Rs 3000 Rs 3200 crore reflecting a balanced focus on profitability over volumes the company saidThe auto segment will continue to improve QoQ profitability We expect to exit Q4 with Auto gross margins around 40 per cent and segment EBITDA of around 5 per cent it added IANS https://dailyworld.in/business/ola-electric-posts-rs-418-crore-net-profit-loss-in-q2-revenue-slips-43-pc-647027.html Thu, 06 Nov 2025 13:04:00 +0530 https://dailyworld.in/business/centre-throws-open-booth-bookings-for-startups-in-waves-bazaar-at-iffi-goa-2025-647049.html New Delhi Nov 6 The Ministry of Information and Broadcasting has announced the opening of bookings for WaveX booths the exclusive startup showcase zone in Waves Bazaar at the International Film Festival of India IFFI Goa 2025 according to an official statement issued on Thursday The initiative aims to provide a platform for emerging startups in the AVGCXR Animation Visual Effects Gaming Comics and Extended Reality and entertainment sectors to connect with global industry leaders investors and production studiosScheduled from November 2024 2025 WAVES Bazar will be located in the vicinity of Film Bazaar the prime networking hub of IFFI known for its dynamic participation from filmmakers producers and media professionals from across the worldEach booth will be available at a nominal cost of Rs 30000 per stall on sharing basis The facilities being provided to participating startups include two delegate passes lunch and high tea evening networking opportunity and direct visibility among global film media and tech professionals the statement saidInterested startups can register at wavexwavesbazaarcom Limited stalls are available and allocation will be on a firstcome firstserved basis the statement addedWaveX is a national startup accelerator and incubation initiative of the Ministry of Information and Broadcasting dedicated to nurturing innovation and entrepreneurship in the AVGCXR and mediatech ecosystemThrough collaborations with leading academic industry and incubation networks WaveX empowers creators and startups to scale their ventures contributing to Indias growing creative economyThe International Film Festival of India IFFI founded in 1952 is one of Asias most significant film festivals celebrating excellence in world cinema and serving as a meeting ground for filmmakers artists and cine enthusiasts Held annually in Goa IFFI attracts participation from across the global film fraternity and acts as a catalyst for creative collaboration and opportunitiesThe 56th edition of the International Film Festival of India IFFI is set to take place from 20th to 28th November 2025 in Panaji Goa the statement added IANS https://dailyworld.in/business/centre-throws-open-booth-bookings-for-startups-in-waves-bazaar-at-iffi-goa-2025-647049.html Thu, 06 Nov 2025 13:55:00 +0530 https://dailyworld.in/business/indias-solar-module-manufacturing-capacity-set-to-touch-165-gw-by-march-2027-647053.html Mumbai Nov 6 Indias solar photovoltaic module manufacturing capacity is projected to increase to over 165 GW by March 2027 up from approximately 109 GW currently a report said on Thursday The strong government support in the form of the approved list of models and manufacturers ALMM basic customs duty on imported cells and modules and the productionlinked incentive scheme drove the growth the report from ratings agency ICRA saidThe report forecasts annual solar capacity installations at 4550 gigawatt direct current GWdc while annual module production is expected to reach 6065 GW and this discrepancy may lead to a supply surplus potentially prompting consolidation among smaller and pureplay module playersThe ALMM ListII for cells effective June 2026 has encouraged OEMs to increase cell manufacturing to approximately 100 GW by December 2027 up from the current 179 GW listed under ALMM the report notedFurther the recent imposition of US tariffs have redirected the supply from the export market to the domestic market it notedHowever the report anticipated that the vertically integrated manufacturers will benefit over the long term due to greater control over the supply chainAnkit Jain Vice President and CoGroup HeadCorporate Ratings ICRA said that operating profitability for domestic solar OEMs at 25 per cent in FY25 is likely to moderate due to competitive pressures and overcapacity buildupAs the ALMM requirement for solar cells is effective from June 2026 a significant scaleup in the cell manufacturing capacity along with its stabilisation in a timely manner remains critical in the near term he addedDependence on China for wafers ingots poses significant risks for the industrys transition given Chinas dominance in global supply and the potential geopolitical restrictions for backward integration the report noted IANS https://dailyworld.in/business/indias-solar-module-manufacturing-capacity-set-to-touch-165-gw-by-march-2027-647053.html Thu, 06 Nov 2025 13:58:00 +0530 https://dailyworld.in/business/sbi-to-divest-63-pc-stake-in-sbi-funds-management-limited-via-ipo-647072.html New Delhi Nov 6 State Bank of India SBI on Thursday announced to divest 32060000 equity shares or 63007 per cent of the total equity capital of SBI Funds Management Limited SBIFML through initial public offering IPO Additionally Amundi India Holding the other promoter of SBIFML will divest 18830000 equity shares being equivalent to 37006 per cent of the total equity capital of SBIFML with a total of 100013 per cent stake comprising 50890000 shares to be listed according to its stock exchange filingSBI Funds Management Limited SBIFML will be the third subsidiary of SBI to be listed after SBI Cards and SBI Life Insurance Considering SBIFMLs sustained strong performance and market leadership over the years it is considered an opportune time to launch the IPO process said SBI Chairman Challa Sreenivasulu SettyApart from maximising value realisation for existing stakeholders the IPO will create opportunities for general shareholders broaden market participation and lead to increased awareness of the products among a wider set of potential investors he addedBoth the promoters of SBIFML have jointly initiated the IPO which is expected to be completed in 2026 Indias largest public sector lender stated in the filingValerie Baudson Chief Executive Officer of Amundi stated Over the years SBI Funds Management Limited has established itself as the leader in Indias asset management industry It has grown successfully leveraging on the powerful distribution capacity of SBIs network in India combined with Amundis global expertise in asset managementEarlier SBI reported a 64 per cent yearonyear YoY increase in its consolidated net profit to Rs 2150449 crore for the second quarter Q2 of FY26 as compared to Rs 2021962 crore in the same period last financial year Q2 FY25The difference between interest earned and interest paid or the banks net interest income NII increased 328 per cent year over year to Rs 42984 crore from Rs 41620 crore in the same quarter of the previous yearAccording to its earlier regulatory filing its domestic net interest margin NIM fell to 309 per cent 18 basis points lower than it was a year ago at 327 per cent IANS https://dailyworld.in/business/sbi-to-divest-63-pc-stake-in-sbi-funds-management-limited-via-ipo-647072.html Thu, 06 Nov 2025 14:50:00 +0530 https://dailyworld.in/business/gold-gains-from-1-week-low-as-dollar-declines-amid-peak-wedding-season-demand-647082.html Mumbai Nov 6 IANS Gold rose significantly from its oneweek low on Thursday amid dollar decline increased safehaven buying and fresh demand ahead of the peak wedding seasonnbspThe rise came even as headwinds from strongerthanexpected US jobs data dampened expectations for another Federal Reserve rate cut this yearnbspThe price of 10 grams of 24carat gold was Rs 120100 during intraday trading according to data published by the India Bullion and Jewellers Association IBJAnbspMCX Gold December futures rose by 074 per cent to Rs 121410 per 10 grams at 210 pm MCX Silver December contracts rose 103 per cent to Rs 148884 per kg during the same periodThe dollar index fell approximately 020 per cent but stayed above the 100mark close to a fourmonth high Meanwhile US 10year yields remained just below their highest level in nearly a month weighing down on the bullionnbspADPs employment report indicated that US private employment rose by 42000 jobs in October surpassing estimates according to multiple media reportsnbspMarket analysts said that gold is maintaining its critical support level of 3870 while silver holds support at 4650 per troy ounce on a closing basisnbspThey expect precious metal prices to remain volatile this week amid volatility in the dollar index global financial markets and ahead of the US nonfarm employment dataGold and silver prices rebounded from a oneweek low supported by safehaven buying amid rising political uncertainty in the United States The US Presidents party losing the New York City mayoral elections has heightened concerns ahead of the upcoming midterm polls said Rahul Kalantri VP Commodities Mehta Equities LtdnbspStrong physical demand from China and Australia also provided support to precious metals he added Analysts placed golds support at Rs 119870119280 zones while resistance at Rs 121090121600 zone https://dailyworld.in/business/gold-gains-from-1-week-low-as-dollar-declines-amid-peak-wedding-season-demand-647082.html Thu, 06 Nov 2025 15:14:00 +0530 https://dailyworld.in/business/ola-electric-posts-rs-418-crore-net-loss-in-q2-revenue-slips-43-pc-647086.html New Delhi Nov 6 Bhavish Aggarwalrun Ola Electric Mobility Ltd reported a consolidated net loss of Rs 418 crore for the JulySeptember period Q2 FY26 its exchange filing said on Thursday as revenue slipped Revenue from operations dropped 43 per cent yearonyear to Rs 690 crore in Q2 FY26 down from Rs 1214 crore in Q2 FY25 indicating a substantial decline in sales for the quarterHowever the electric twowheeler makers operating EBITDA loss narrowed to Rs 203 crore during the quarter from Rs 379 crore a year earlier indicating improved cost efficiencyThe companys auto segment delivered an EBITDA margin at 03 per cent by reducing Auto operating expense from Rs 308 crore to Rs 258 crore onquarter the release saidAfter the announcements of the results Ola Electrics stock fell to Rs 494 on the NSE down 66 paise during intraday trade posting a decline of 132 per cent from the previous closeFor the Auto segment we expect lower volumes than the Q1 guidance as we continue to focus on margin and cash discipline in a hyper competitive market the company said in its filingFor H2 FY26 Ola Electric targets total deliveries of approximately 100000 units This moderation in unit volumes will be complemented by volumes from its new vertical beginning in Q4 the company addedThe company recorded sales of 16034 escooters in October marking a 61 per cent decline from 41843 units sold in the same month last year according to data from the governments Vahan portalOn a fullyear basis we now expect FY26 consolidated revenue of around Rs 3000 Rs 3200 crore reflecting a balanced focus on profitability over volumes the company saidThe auto segment will continue to improve QoQ profitability We expect to exit Q4 with Auto gross margins around 40 per cent and segment EBITDA of around 5 per cent it added IANS https://dailyworld.in/business/ola-electric-posts-rs-418-crore-net-loss-in-q2-revenue-slips-43-pc-647086.html Thu, 06 Nov 2025 15:21:00 +0530 https://dailyworld.in/business/godrej-properties-net-profit-falls-32-pc-sequentially-to-rs-403-crore-in-q2-647092.html Mumbai Nov 6 Godrej Properties Limiteds consolidated profit after tax PAT for the second quarter of the current financial year Q2 FY26 dropped 32 per cent sequentially to Rs 40299 crore as compared to Rs 59840 crore in the previous quarter Q1 FY26 according to an exchange filing on Thursday The real estate firms revenue from operations for the quarter under review rose 70 per cent quarteronquarter QoQ to Rs 74038 crore from Rs 43456 crore in the AprilJune period Q1 FY26In contrast revenue from operations declined nearly 32 per cent yearonyear YoY from Rs 109323 crore while and PAT jumped nearly 21 per cent from Rs 33379 crore in the same period a year ago Q2 FY25Receiving RERA approval for our Worli project marks an important step forward in our development timeline The location offers a rare combination of scale connectivity and visibility said Gaurav Pandey MD amp CEO Godrej Properties said Gaurav Pandey MD and CEO Godrej PropertiesThis project further strengthens GPLs presence in South Mumbai and aligns with our strategy of acquiring and developing highpotential urban land parcels We will aim to deliver a landmark development that offers its residents an outstanding quality of life he addedThe company informed that it has received the project registration certificate from the Maharashtra Real Estate Regulatory Authority MahaRERA for its upcoming residential development Godrej Trilogy located in Worli MumbaiThis is part of a joint development to redevelop a prime land parcel in one of the citys most coveted neighbourhoods The development will comprise three towers to be developed on a 263acre plot The gross estimated revenue potential of the total project is over Rs 10000 crore the company said in its exchange filingFollowing the development the shares of Godrej Properties fell over 3 per cent in intraday trade to hit an intraday low at Rs 218660 At around 336 pm the stock was trading at Rs 222610 down 293 per cent IANS https://dailyworld.in/business/godrej-properties-net-profit-falls-32-pc-sequentially-to-rs-403-crore-in-q2-647092.html Thu, 06 Nov 2025 15:25:00 +0530 https://dailyworld.in/business/kfc-operator-devyani-international-slips-into-losses-sequentially-by-rs-239-crore-in-q2-647110.html Mumbai Nov 6 Devyani International Limited the operator of popular quick service restaurant QSR brands like KFC and Pizza Hut on Thursday slipped into losses by Rs 239 crore in Q2 FY26 on the sequential basis from Rs 22 crore profit in the previous quarter this fiscal Q1 FY26 On the yearonyear basis the losses widened by a massive 367 per cent from the loss of Rs 49 crore in the same quarter last fiscal Q2 FY25 as per its stock exchange filingThe company attributed the losses to outofhome consumption getting impacted due to both Shraavana and Navaratri falling in the same quarter according to the exchange filing on ThursdayFurther unseasonal rains especially in eastern parts of the country during the crucial second half of September also weighed down on the gainsThe companys consolidated revenues grew to Rs 1377 crore posting a 13 per cent YoY growth The revenue surge was fuelled by the opening of 263 new outlets in the past year bringing the total store count to 2184 unitsThe company posted Rs 5723 crore revenues from KFC India up 53 per cent YoYThe EBITDA margin fell to 141 per cent in the second quarter down from 163 per cent a year earlier due in part to losses from its acquisition of Sky Gate Hospitality the parent company of Biryani by KiloIt also cited declining demand and strong competition from local restaurants as reasons for the downturn noting that urban consumption is just starting to recover after a period of slow growthThe company in April had announced tieups with three international brands New York Fries Tealive and Sanook Kitchen to strengthen its overall portfolioThe company announced that it saw strong momentum in the business revenue from Biryani By Kilo and Goila Butter Chicken from Skygate portfolio post Dussehra It added that integration of Skygate with DIL remains on track and remain poised to achieve brand contribution breakeven by March 2026 IANS https://dailyworld.in/business/kfc-operator-devyani-international-slips-into-losses-sequentially-by-rs-239-crore-in-q2-647110.html Thu, 06 Nov 2025 17:09:00 +0530 https://dailyworld.in/business/indian-equity-indices-end-lower-amid-selling-in-broader-markets-647113.html Mumbai Nov 6 The domestic equity indices closed lower on Thursday amid selling in broader markets and continued FII outflows Selling pressure in banking Financial Services and FMCG heavyweights dragged the market sentiment as wellSensex ended the session at 8331101 down 14814 points or 018 per cent The 30share index started the session in green at 8351669 against last days closing of 8345915 However the index fell due to selling in banking Financial Services and broader marketsNifty closed at 2550970 down 8795 points or 034 per centVolatility dominated the domestic market with broadbased profit booking seen amid continued FII outflows despite a supportive Asian market Early optimism from the inclusion of four Indian companies in the MSCI Global Standard Index and strong US macro data was offset by weak domestic PMI readings indicating softening sentiment said Vinod Nair Head of Research Geojit Investments LimitedMost sectors traded lower though IT stocks remained resilient supported by inline earnings and improvement in US macro data Amid overall caution selective buying emerged in fundamentally strong companies due to betterthanexpected Q2 earningsFrom the Sensex basket PowerGrid Eternal BEL Bajaj Finance ICICI Bank Titan NTPC Tata Steel Bharati Airtel Kotak Bank LampT and Bajaj FinServ were the top losers Asian Paint Mahindra and Mahindra TCS Maruti Suzuki and Tata Motors Passenger Vehicle ended the session in positive territoryThe majority of sectoral indices fell amid selling pressure Nifty Fin Services slipped 162 points or 060 per cent Nifty Bank decreased 272 points or 047 per cent and Nifty FMCG closed 103 points or 019 per cent down Meanwhile Nifty IT and Nifty Auto ended the session slightly upBroader followed the suit as well Nifty Small Cap 100 fell 255 points or 139 per cent Nifty Midcap 100 dipped 568 points or 095 per cent and Nifty 100 ended the session 129 points or 049 per cent lower IANS https://dailyworld.in/business/indian-equity-indices-end-lower-amid-selling-in-broader-markets-647113.html Thu, 06 Nov 2025 17:13:00 +0530 https://dailyworld.in/business/crypto-exchange-dunamu-faces-243-million-fine-over-customer-identification-violation-647115.html Seoul Nov 6 South Koreas financial watchdog on Thursday slapped a fine of 352 billion won 243 million on Dunamu the operator of the countrys top cryptocurrency exchange Upbit for violating customer identification obligations The Financial Intelligence Unit FIU under the Financial Services Commission said Dunamu did not comply with its obligations to verify the identities of users in about 53 million cases and committed other violations including failing to report 15 suspicious transactions reports Yonhap news agencyIn particular the company accepted photocopies or rephotographed image files of user portraits in which their identities could not be fully verified instead of requiring original documentsThere were also cases in which the address field of the customer identification documents was left blank or contained inaccurate or irrelevant information according to the FIUIn addition Dunamu violated its obligation to restrict transactions by users whose verification process had not been completed in 33 million casesWe have completed protective measures for investors and will make efforts to prevent a recurrence of such violations Dunamu said in a releaseThe FIU will give Dunamu 10 days to submit its opinion before finalising the fineEarlier in the day KT Corp South Koreas secondlargest mobile carrier was found to have concealed critical malware infections and failed to report the security breaches that led to a recent hacking and data theft incident a governmentled investigation revealedThe joint governmentprivate investigation team which is examining KTs recent cyberattack linked to illegal micro base stations said the company learned between March and July of 2024 that 43 of its servers had been infected with socalled BPFDoor malware and other malicious codeDespite detecting the infections which exposed customer data the company did not notify authorities and instead attempted to handle the issue internally according to the teamBPFDoor malware enables remote attackers to bypass firewalls and maintain longterm access to compromised systems It was also used in a separate hacking case involving industry leader SK Telecom Co reported earlier this year IANS https://dailyworld.in/business/crypto-exchange-dunamu-faces-243-million-fine-over-customer-identification-violation-647115.html Thu, 06 Nov 2025 17:15:00 +0530 https://dailyworld.in/business/cromptons-q2-net-profit-falls-41-pc-to-rs-75-crore-647128.html Mumbai Nov 6 Crompton Greaves Consumer Electricals Limited on Thursday reported a 41 per cent yearonyear YoY decline in its consolidated net profit for the JulySeptember period Q2 FY26 at Rs 7542 crore The electrical goods manufacturer had posted a profit of Rs 12807 crore in the corresponding quarter a year ago Q2 FY25The companys total revenue for the quarter under review stood at Rs 192896 crore up 154 crore YoY from Rs 191353 crore Sequentially the total revenue dropped over 93 crore or 46 per cent from Rs 202205 crore and net profit fell 39 per cent from Rs 12390 crore in the previous quarter Q1 FY26Meanwhile the Mumbaibased firms total expenses for Q2 FY26 declined significantly to Rs 2678 crore from Rs 4267 crore in Q2 FY25 and Rs 4219 crore in Q1 FY26Electrical consumer durables contributed the most Rs 137116 crore to its total revenue this quarter followed by butterfly products Rs 28335 crore and lighting products Rs 26106 croreDespite a challenging environment our welldiversified product portfolio remained resilient with strong momentum in pumps small domestic and kitchen appliances We believe GST 20 will act as a structural catalyst to consumption with benefits percolating to the durables segment in a phased manner said Promeet Ghosh MD and CEO of the companyDuring the current quarter the solar rooftop business secured its 1st ever order of Rs 52 crore followed by the largestever order of Rs 445 crore cumulating to a total of Rs 500 crore and 50000 units he addedThese orders are expected to provide a significant fillip to our directtoconsumer business and mark the beginning of a new growth engine backed by the companys proven excellence in execution and a robust supply chain network Ghosh said furtherThe shares of the company closed lower on Thursday following subdued Q2 earnings The stock closed at Rs 27755 down 201 per cent on NSE IANS https://dailyworld.in/business/cromptons-q2-net-profit-falls-41-pc-to-rs-75-crore-647128.html Thu, 06 Nov 2025 18:08:00 +0530 https://dailyworld.in/business/bitcoin-tumbles-below-100-000-amid-global-market-sell-off-646875.html Mumbai Nov 5 Bitcoin prices fell sharply on Wednesday briefly dipping below the 100000 mark amid heavy selling in the spot market The fall came as part of a broader global selloff in risk assets with investors increasingly worried about overvalued markets and fading risk appetiteThe worlds largest cryptocurrency dropped 37 per cent to trade at 101822 after touching an intraday low of 9901006 its weakest level since midJuneOther major digital assets also traded lower with Ethereum sliding 676 per cent to 333165 Solana down 316 per cent at 15766 XRP declining 316 per cent to 224 and Dogecoin slipping 147 per cent to 0165Bitcoin has now officially entered bear market territory falling more than 20 per cent from its record high of 126186 reached in early OctoberAccording to data from analytics firm CoinGlass more than 127 billion worth of leveraged crypto positions were liquidated earlier this week most of them being long positions as traders betting on further price gains faced steep lossesIn total nearly 2 billion in crypto positions were wiped out in the past 24 hours although the scale was smaller compared to the 19 billion liquidations seen during last months crashReports suggest that open interest in Bitcoin futures remains subdued while options traders are increasingly betting on further downside with several targeting the 80000 level through put contractsThe latest slide in Bitcoin coincided with weakness across global equity markets Fears of an artificial intelligencedriven bubble in tech valuations and concerns about stretched stock prices sparked broad selling on Wall StreetOn Tuesday the Dow Jones Industrial Average fell 25144 points or 053 per cent to 4708524 The SampP 500 declined 8042 points or 117 per cent to 677155 while the Nasdaq Composite plunged 48609 points or 204 per cent to close at 2334864Analysts said the correction in crypto mirrors the growing caution across global markets as investors brace for a potential pullback after months of rapid gains driven by optimism over AI and digital assets IANS https://dailyworld.in/business/bitcoin-tumbles-below-100-000-amid-global-market-sell-off-646875.html Thu, 06 Nov 2025 00:00:00 +0530 https://dailyworld.in/business/asia-driving-global-manufacturing-recovery-india-among-leaders-646882.html New Delhi Nov 5 Global manufacturing activity increased momentum in October driven by Asian economies with India Thailand and Vietnam showing significant improvements a new report said on Wednesday India topped the global manufacturing rankings again with the HSBC manufacturing PMI increasing to 592 in October from 577 in September driven by festive demand and GST rate rationalisation according to SampP Global survey dataData from SampP Global showed that Asias manufacturing PMI exChina and Japan reached a 14month high to 527 signalling stronger recovery momentum despite ongoing trade frictions and geopolitical uncertaintyChris Williamson chief business economist at SampP Global Market Intelligence said that Asia Thailand achieved its strongest PMI reading since May 2023 and Vietnam its highest since July 2024 as producers in these economies reported a thawing of concerns over the impact of US tariffsThailands PMI increased to 566 from 546 while Vietnams rose to 545 from 504 driven by a rebound in new orders and export demandRegarding Indias performance the firms said that it is the fifth time in seven months that the index has remained above 58 highlighting the sectors resilience despite global headwindsThe increase stemmed from quicker growth in new orders and factory output at the beginning of the third financial quarter driven by boost in advertising and recent GST reforms the report saidA reading above 50 indicates economic expansion while one below 50 shows contraction in the manufacturing services or construction sectorsChinas PMI declined to 506 from 512 due to falling export orders while the US and Eurozone continued moderate expansion or flat conditions with the US PMI increasing to 525 and the Eurozone at 50 it addedIf new orders continue to rise sharply as they have done in the latest survey period and price pressures stay subdued we can expect the ASEAN manufacturing sector to sustain its current level of growth as we conclude the year said Maryam Baluch economist SampP Global Market Intelligence about ASEAN manufacturers IANS https://dailyworld.in/business/asia-driving-global-manufacturing-recovery-india-among-leaders-646882.html Thu, 06 Nov 2025 00:19:00 +0530 https://dailyworld.in/business/nasscomfoundation-ondc-todigitallyempower-200women-ledbusinesses-in-karnataka-646883.html Bengaluru Nov 5 Nasscom Foundation on Wednesday announced a collaboration with the ONDC Network to enable women entrepreneurs in Karnataka to join the mainstream of ecommerce Under the partnership Nasscom onboarded 200 womenled enterprises on the ONDC Network providing them with access to expansive ecommerce markets enabling new entrepreneurial opportunities and accelerating business growth for IndiaWith a focus on sustainability the initiative also supported sellers from sectors such as handicrafts handloom and manufacturing helping them increase incomes and improve longterm business outcomesIndias ecommerce market is slated to surpass the US to become the second largest globally by 2034 as per many industry reports Yet many small and medium sellers still lack the digital expertise needed to thrive in this space limiting their growth opportunities a scenario which is more skewed for women said Jyoti Sharma CEO Nasscom FoundationOur collaboration with ONDC Network has helped bridge the digital divide by building capacities and empowering 200 women entrepreneurs to seamlessly enter and thrive in online marketplaces By harnessing technology and skill development we have provided them with a level playing field and access to sustainable market linkages to ultimately drive economic growth she addedThe initiative has been implemented across 22 districts of Karnataka including rural and urban regions of Bengaluru Mysuru Hubballi Channapatna Belgaum Udupi etcIt addresses the significant challenges faced by women entrepreneurs including limited market access lack of digital and financial skills and no prior ecommerce experienceAs part of the initiative women entrepreneurs received onground support through training cataloguing and GST registrationThe programme also built their capacities connected them with stakeholders and ensured regular governance for problemsolving and quality controlThrough the right tools skills and resources the initiative equipped women entrepreneurs with essential tools to compete in the modern business landscape amplifying their market presence and driving sustainable growthEvery woman entrepreneur carries a story of resilience determination and aspiration Through this collaboration with Nasscom Foundation ONDC Network is providing the digital infrastructure that enables enterprises to access wider markets and strengthen their businesses The true transformation lies in the way these women are adopting digital tools building new skills and embracing new opportunities to grow their ventures said Vibhor Jain Acting CEO and COO at ONDC IANS https://dailyworld.in/business/nasscomfoundation-ondc-todigitallyempower-200women-ledbusinesses-in-karnataka-646883.html Thu, 06 Nov 2025 00:21:00 +0530 https://dailyworld.in/business/adani-energy-solutions-to-supply-60-mw-green-energy-to-textile-manufacturer-rswm-646884.html Ahmedabad Nov 5 RSWM one of Indias leading textile manufacturers on Wednesday said it has signed an agreement with Adani Energy Solutions Ltd AESL for the supply of 60 MW of renewable energy Adani Energy Solutions will manage the entire green power value chain for the additional power requirement of RSWM the flagship company of LNJ Bhilwara GroupRSWM invested Rs 60 crore under the Group Captive Scheme with a renewable genco green generation company for the supply of 3153 crore units of green power per annum to its manufacturing facilities across RajasthanWith this addition the contribution of renewable energy in RSWMs total energy requirement will rise from the current 33 per cent to 70 per cent in the near future two thirds of its total energy mixRiju Jhunjhunwala Chairman Managing Director and CEO RSWM said that this achievement underscores our longterm vision to align growth with sustainability and reinforce our position as a forwardlooking industrial leaderBy sourcing 70 per cent of our total energy requirement from renewable sources well above the national average of Indias clean energy mix 31 per cent RSWM continues to set industry benchmarks in responsible energy transition he addedAccording to Kandarp Patel CEO AESL we are delighted to partner with RSWM on this landmark initiative that demonstrates how sustainability is becoming integral to businessesThis collaboration is a testament to the scalability and impact of renewable power in strengthening industrial growth while ensuring sustainability As a leading energy solutions provider for the Commercial and Industrial CampI sector we feel privileged to play a catalytic role in helping industries decarbonise through our innovative offerings Patel mentionedAESLs commercial and industrial CampI vertical serves bulk electricity users with customised energy solutions By delivering reliable competitively priced and increasingly green power AESL helps businesses across sectors meet both operational and sustainability needs The company is targeting a CampI portfolio of 7000 MW over the next five yearsBy integrating hybrid power RSWM is not only reducing its carbon footprint but also enhancing longterm energy security and operational efficiency said Rajeev Gupta Joint Managing Director RSWMAESL is the countrys largest private transmission company with a presence across 16 states and a cumulative transmission network of 26705 ckm and 97236 MVA transformation capacity IANS https://dailyworld.in/business/adani-energy-solutions-to-supply-60-mw-green-energy-to-textile-manufacturer-rswm-646884.html Thu, 06 Nov 2025 00:25:00 +0530 https://dailyworld.in/business/lic-clocks-32-per-cent-jump-in-q2-net-profit-at-rs-10-053-crore-647141.html New Delhi Nov 6 Life Insurance Corporation of India LIC on Thursday reported a robust 32 per cent increase in standalone net profit to Rs 1005339 crore for the second quarter of the current financial year compared with the corresponding figure of Rs 762086 crore in the same period of the previous financial year LICs net premium income grew 55 per cent yearonyear to Rs 126 lakh crore during the JulySeptember quarter from 12 lakh crore in the same period last year while the solvency ratio increased to 213 per cent from 198 per cent in the yearago periodThe asset quality for policyholders funds also improved during the quarter as NPA fell to Rs 394 per cent from Rs 617 per cent in Q2 FY25In the first six months of FY26 H1FY26 LICs net profit amounted to Rs 21040 crore marking a 1636 per cent increase yearonyear YoYThe company statement noted that LICs total premium income for the six months H1FY26 rose 514 per cent yearonyear to Rs 245680 crore Individual business premium increased to Rs 150715 crore while group business premium rose to Rs 94965 croreThe companys renewal premium in the individual segment grew 614 per cent to Rs 122224 croreR Doraiswamy CEO and MD of LIC said that the company is very optimistic about the positive impact of the GST changes announced for the Insurance Industry by the GovernmentIt is our firm belief that these changes are in the best interest of customers and will lead to further accelerated growth of the life insurance industry in India As LIC we have ensured that all intended benefits of GST changes are passed onto the customers Doraiswamy addedLife Insurance Corporation of India has been ranked third among the worlds strongest insurance brands achieving a Brand Strength Index BSI score of 88 out of 100 according to the Brand Finance Insurance 100 2025 reportPolandbased PZU secured the top spot with a BSI score of 944 followed by China Life Insurance which ranked second with a BSI score of 935 IANS https://dailyworld.in/business/lic-clocks-32-per-cent-jump-in-q2-net-profit-at-rs-10-053-crore-647141.html Thu, 06 Nov 2025 19:02:00 +0530 https://dailyworld.in/business/google-launches-skilling-programme-for-indian-startup-founders-646890.html New Delhi Nov 5 US tech giant Google announced on Wednesday a twoweek programme under Google for Startups India to equip earlystage founders startup teams and aspiring entrepreneurs in developing launchready AI prototypes with Googles AI tools The attendees will be equipped with the essential tools and knowledge to rapidly turn their ideas into functional AIpowered prototypes using Googles cuttingedge AI technologies the release saidThe programme will run from November 27 to December 7 2025 where participants will learn to ideate research design and deploy AIfirst solutions using Googles AI tools such as tools such as Gemini Nano Banana Imagen Veo NotebookLM and AI StudioThe program offers practical skills focused on AIFirst Prototyping AIPowered Research and AI Creative Studio it addedAttendees who succeed will obtain a Googlerecognised Certificate of Participation and qualify for the Build the Future Showcase in January 2026 for outstanding innovators which includes invaluable mentorship from Google experts the release notedAt Google for Startups our goal is to make the power of AI accessible to every founder dismantling traditional coding barriers By leveraging the speed and seamless integration of Googles fullstack AI ecosystem the program will enable entrepreneurs to move from concept to creation faster and with greater confidence said Ragini Das Head of Google for Startups IndiaMeitY Startup Hub Startup India IndiaAI Mission and Nasscom have supported the initiative Google notedMeitY Startup Hub CEO Panneerselvam Madanagopal said that the collaboration reflects the vision of Digital India and Viksit Bharat by empowering founders across the country to create globally competitive solutions for social upliftment using AIGoogle in September had announced the latest cohort of its free threemonth AI accelerator program a group of 20 startups selected from over 1600 applicants to scale AIdriven solutions across healthcare finance climate education and moreThe company mentioned that Indias generative AI ecosystem has grown 37fold over the past year making it the worlds secondlargest GenAI startup hub IANS https://dailyworld.in/business/google-launches-skilling-programme-for-indian-startup-founders-646890.html Thu, 06 Nov 2025 00:39:00 +0530 https://dailyworld.in/business/maruti-suzuki-crosses-3-crore-domestic-sales-milestone-in-india-646893.html New Delhi Nov 5 Maruti Suzuki India the countrys largest carmaker on Wednesday announced that it has crossed a major milestone of 3 crore cumulative car sales in the domestic market The company said it took 28 years and 2 months to reach its first crore of sales while the next one crore cars were sold in just 7 years and 5 monthsThe third crore milestone came even faster in a record time of 6 years and 4 months highlighting the brands growing popularity among Indian buyersAmong the three crore cars sold in India the Maruti Alto remains the bestselling model with over 47 lakh units soldIt is followed by the Wagon R with around 34 lakh units and the Swift with more than 32 lakh units Compact SUVs like the Brezza and the recently launched Fronx also made it to the companys list of top ten bestsellersMaruti Suzuki delivered its very first car the iconic Maruti 800 to a customer on December 14 1983 Since then the company has become a household name in India and currently offers more than 170 variants across 19 modelsExpressing gratitude for the achievement Hisashi Takeuchi Managing Director and CEO of Maruti Suzuki India said the milestone fills him with humility and gratitudeWhen I look at the length and breadth of India and think that 3 crore customers have placed their trust in Maruti Suzuki to realise their dream of mobility it fills me with humility and gratitude he saidHe added that with car ownership in India still at about 33 vehicles per 1000 people there is significant potential for growthOur journey is far from over We will continue to make every possible effort to bring the joy of mobility to as many people as we can while contributing positively to the economy and the environment Takeuchi saidThe company said it remains committed to expanding access to affordable reliable mobility for Indian families while maintaining its focus on innovation and sustainability IANS https://dailyworld.in/business/maruti-suzuki-crosses-3-crore-domestic-sales-milestone-in-india-646893.html Thu, 06 Nov 2025 00:45:00 +0530 https://dailyworld.in/business/adani-subsidiarykutch-copper-joins-caravel-minerals-to-fast-track-key-australian-copper-project-647149.html Ahmedabad Nov 6 Caravel Minerals Ltd on Thursday announced the signing of a landmark nonbinding MoU with Kutch Copper Ltd KCL a subsidiary of Adani Enterprises Ltd AEL paving the way for a strategic collaboration on the flagship Caravel Copper Project in Western Australias Murchison region The companies will explore investment and offtake opportunities to accelerate development of the project towards a Final Investment Decision FID in 2026 combining Caravels worldclass resource with Adanis proven smelting processing and logistics capabilitiesThe companies further said that the MoU further outlines collaborative workstreams including coengineering to optimise product specifications for Kutch Coppers downstream facilities joint procurement to fasttrack delivery schedules and leveraging the IndiaAustralia FTA Free Trade Agreement to promote crossborder resource development and workforce skillingCopper is the backbone of the global energy transition and our partnership with Caravel Minerals strengthens Indias and Australias role in building a resilient and responsible supply chain for this vital metal said Dr Vinay Prakash CEO Natural Resources AdaniKutch Copper with its worldclass infrastructure and ESG standards is delighted to align with Caravel to create a model of sustainable value creation across continents he addedThe partnership also establishes an exclusive framework for negotiating a lifeofmine offtake agreement covering up to 100 per cent of Caravels copper concentrate output which is expected to be around 62000 to 71000 tonnes of payable copper per annum in the early yearsThe concentrate would directly feed into KCLs stateoftheart 12 billion Australian 18 billion Kutch Copper Smelter the worlds largest singlelocation copper facility set up in GujaratThis collaboration with Adanis Kutch Copper marks a pivotal step in realising the full potential of the Caravel Copper Project It brings together complementary strengths Adanis downstream expertise and Caravels worldscale resource under a shared vision for responsible longterm copper production said Don Hyma Managing Director Caravel Minerals LimitedCaravels Caravel Copper Project located about 150 km northeast of Perth is one of Australias largest undeveloped copper resources with a potential mine life exceeding 25 years and an estimated 13 million tonnes of payable copper The projects allin sustaining cost AISC is forecast at US 207 per pound positioning it among the lowestcost producers globallyAs part of the agreement KCL has been granted the first rights to participate in direct equity or projectlevel investments during the term of the MOU The discussions are aligned with the Projects Australian 17 billion initial capex and designed to support phased development IANS https://dailyworld.in/business/adani-subsidiarykutch-copper-joins-caravel-minerals-to-fast-track-key-australian-copper-project-647149.html Thu, 06 Nov 2025 20:00:00 +0530 https://dailyworld.in/business/ai-a-horizontal-cross-cutting-techushering-india-towards-viksit-bharatmeityofficial-646894.html New Delhi Nov 5 AI is a horizontal and crosscutting technology that can usher India towards Viksit Bharat goals said S Krishnan Secretary Ministry of Electronics and Information Technology MeitY on Wednesday He was speaking at a highlevel panel discussion on AI at the Emerging Science Technology amp Innovation Conclave ESTIC 2025 being held at Bharat Mandapam in New Delhi from November 35Chairing the session Krishnan spoke about how India can harness AI responsibly to drive innovation inclusion and global competitivenessThe critical aspect of all technology is the impact it has on society how it enhances the quality of life and what it offers to the people of the country For India this is truly an opportunity to leverage a horizontal crosscutting technology like AI to ensure the country is firmly on the path to becoming Viksit Bharat by 2047 said S Krishnan Secretary MeitYThe panel including leading voices from government academia and industry explored Indias evolving AI ecosystem from expanding digital infrastructure and developing indigenous large language models to advancing ethical AI governance and fostering global partnershipsThe experts emphasised the need to align technological progress with the countrys developmental priorities and social inclusion goalsAbhishek Singh Additional Secretary MeitY spoke on the IndiaAI Missions integrated approach to building a worldclass AI ecosystemTo unlock pathways for AI innovation the IndiaAI Mission is addressing all the gaps that exist in our story Our biggest advantage is the human capital we have but to build AI models and applications we also need accessible computers quality datasets and sustained investment said Singh also the Director General National Informatics Centre amp CEO IndiaAI MissionThrough the Missions sevenpillar strategy including lowcost computers data platforms foundation models startup support and tools for safe and trustworthy AI we are creating an ecosystem that enables India to catch up with the best in the world The goal is to build AI applications that not only serve Indias needs but also set global benchmarks for innovation ethics and trust he addedThe session also set the stage for the upcoming India AI Impact Summit 2026 focusing on Indias evolving AI ecosystem from expanding digital infrastructure and advancing indigenous large language models to strengthening ethical AI governance and fostering international collaboration IANS https://dailyworld.in/business/ai-a-horizontal-cross-cutting-techushering-india-towards-viksit-bharatmeityofficial-646894.html Thu, 06 Nov 2025 00:48:00 +0530 https://dailyworld.in/business/indias-real-estate-sector-likely-to-soar-to-10-trillion-dollars-by-2047-report-647158.html Gurugram Nov 6 Indias real estate sector is at the cusp of a monumental and transformative journey and is projected to grow multifold levelsfrom nearly 03 trillion Dollars today to a staggering 510 trillion Dollars market by 2047 according to a ColliersCII report released on Thursday This ongoing surge positions real estate as a cornerstone of Indias economic ascent potentially contributing 1420 per cent of the GDP by 2047 it addedThe report titled Real Estate 2047 Building Indias Future Growth Corridors highlights nearterm trends and the overarching growth theme across core segmentsresidential office retail industrial amp warehousing as well as emerging alternative asset classes like senior living coliving and data centresMost of these trends are being powered by a strong tailwind in the form of governmentled reforms amp policy initiatives and structural demand drivers such as rapid urbanisation demographic shifts infrastructure augmentation technologydriven innovation and sustainability priorities Together these growth engines are creating a multiplier effect fueling employment and demand across real estate asset classes attracting institutional capital and unlocking new growth corridors across the country the report statedWithin real estate the residential segment is expected to see the most pronounced impact from rapid urbanisation and evolving demographics particularly in affordable senior and coliving spaces Meanwhile commercial and industrial segments stand to benefit from enhanced infrastructureled connectivity digitalisation and green mandates which will support the decentralisation of office hubs and manufacturing clusters across Tier II amp III cities Concurrently technological advancements especially in AI will drive the growth of data centres and smart city infrastructure the report further statedAddressing the CII event Harleen Kaur Deputy Secretary Union Ministry of Road Transport and Highways said Indias infrastructure expansion is reshaping the real estate landscape unlocking new growth corridors and transforming Tier II amp III cities Real estate and infrastructure are two vital sectors which will reinforce each other Expressways and industrial corridors will increasingly enhance connectivitytransforming land usage in catchment areas accelerating urban development and creating commercially viable economic hotspots IANS https://dailyworld.in/business/indias-real-estate-sector-likely-to-soar-to-10-trillion-dollars-by-2047-report-647158.html Thu, 06 Nov 2025 21:03:00 +0530 https://dailyworld.in/business/microsoft-to-offer-in-country-copilot-data-processing-in-india-by-2025-end-646904.html New Delhi Nov 5 US tech giant Microsoft announced on Wednesday that it will provide incountry processing for Microsoft 365 Copilot interactions in four countries including India by the end of CY2025 Further Microsoft will expand this option to eleven more countries the release said adding that incountry data processing for Microsoft 365 Copilot interactions will enhance customer control over AI dataFurther incountry data processing can also improve performance by reducing latency delivering an even more responsive Copilot experience the company saidBy the end of 2025 customers in Australia the United Kingdom India and Japan will have the option for Copilot interactions to be processed within their national bordersIn 2026 the capability will expand to Canada Germany Italy Malaysia Poland South Africa Spain Sweden Switzerland the United Arab Emirates and the United StatesMicrosoft mentioned that incountry processing allows Copilot interaction data to be processed in data centres within the customers nation giving customers greater control over their dataThis offer is designed to enable customers particularly those in government and highly regulated industries to access Microsoft 365 Copilot with an additional option for governance security and regulatory compliance it saidA map of the Microsoft 365 data residency and processing commitments highlighting the countries where incountry data processes will be available by the end of 2025 and in 2026 the release saidCurrently Microsoft offers incountry data residency to Microsoft 365 and Microsoft 365 Copilot customers in 27 countries and inregion data residency and processing for countries within the European Union EU Data BoundaryIndias data centre capacity is expected to grow from the current 12 GW to about 8 GW by 2030 expanding at an annual rate of nearly 17 per cent driven by the countrys rapid digital transformation growing internet usage and rising demand for AI and cloudbased services according to Trade Brains report IANS https://dailyworld.in/business/microsoft-to-offer-in-country-copilot-data-processing-in-india-by-2025-end-646904.html Thu, 06 Nov 2025 01:26:00 +0530 https://dailyworld.in/business/ethiopia-to-adopt-indias-day-nrlm-scheme-to-root-out-rural-poverty--647161.html New Delhi Nov 6 A highlevel delegation from the government of Ethiopia has concluded a weeklong learning and exposure visit to India which focused on understanding the implementation strategies of the Deendayal Antyodaya Yojana National Rural Livelihoods Mission DAYNRLM Indias flagship initiative for poverty alleviation and womens economic empowerment The Ethiopian delegates expressed their intention to apply the lessons learned from NRLM to their Productive Safety Net Program PSNP and invited Indian partners to collaborate in driving further innovationWorld Bank representatives reaffirmed their commitment to supporting womens livelihood transformation in Ethiopia and underscored the importance of government leadership enabling policies and private sector engagement according to an official statement issued on ThursdayThe wrapup session was attended by Molalign Asfaw Deputy Ambassador of Ethiopia to India representatives from the World Bank and Rajeshwari S M Director DAYNRLM Ministry of Rural Development The Ethiopian delegation included representatives from nine regions one city administration and two key sectorsThe delegates appreciated the depth of engagement the expertise demonstrated by Indian officials and the value of peertopeer knowledge exchange throughout the visitThe delegation commended the standardisation and adaptability of NRLMs design noting how it customises programme structures to suit diverse local contextsThey were particularly impressed by the role of sakhis communitybased facilitators who deliver lastmile support and resources to women across rural IndiaThe delegates highlighted several innovations such as bank linkages diversified livelihood activities and departmental convergence as key contributors to social and economic empowerment for women according to an official statementInspired by the success stories of womens collectives one delegate remarked Women are the foundation of any economy When we invest in women we invest in the whole worldAddressing the concluding session the Ambassador of Ethiopia to India emphasised the longstanding partnership between the two nations and the importance of sustained policy exchanges in shaping institutional evolution and impactful interventionsHe highlighted the need for a comprehensive conceptual framework and constant monitoring to ensure policy inclusion and improvementThe Ambassador also recognised Indias global leadership in Digital Public Infrastructure DPI and acknowledged Ethiopias parallel efforts toward holistic sectoral collaborationHe called for strengthening institutional commitments and adapting Indias successful experiences to the Ethiopian context IANS https://dailyworld.in/business/ethiopia-to-adopt-indias-day-nrlm-scheme-to-root-out-rural-poverty--647161.html Thu, 06 Nov 2025 21:08:00 +0530 https://dailyworld.in/business/india-sees-highest-ai-bot-activity-in-apac-followed-by-japan-and-china-report-646907.html New Delhi Nov 5 India leads the AsiaPacific region in AI bot activity and a 300 per cent increase in automated traffic globally is witnessed over the past year a report said on Wednesday AI bots generated 32 billion triggers in India positioning the country as the most targeted in the APAC region followed by Japan and China said the report from cybersecurity and cloud computing company Akamai TechnologiesThe report revealed an alarming spike in automated traffic driven largely by AIpowered bots targeting websites across all industriesThese bots generate billions of requests significantly distorting digital operations and analytics and make up nearly 1 per cent of total bot traffic on Akamais platformThe spike is primarily caused by content scraping which undermines traditional webbased business models publisher analytics and ad revenueAs bot traffic grows publishers and other contentdriven businesses are seeing corrupted analytics and collapsing ad revenues through bots extracting value without giving any in returnThe report also revealed that the rapid growth of AIenabled tools has made it easier than ever for both experienced threat professionals and new malicious actors to launch impersonation attacks conduct social engineering distribute phishing campaigns and commit identity fraud using AIgenerated fake documents and imagesIn addition malicious bots such as FraudGPT WormGPT ad fraud bots and return fraud bots are driving up costs degrading site performance and skewing key metricsFurther the global report stated that the commerce industry leads in AI bot activity registering more than 25 billion bot requests over a twomonth observation periodBut publishing faced the largest impact in the digital media industry representing 63 per cent of AI bot triggersIn the healthcare sector more than 90 per cent of AI bot triggers stem from scraping largely by search and training bots the report said IANS https://dailyworld.in/business/india-sees-highest-ai-bot-activity-in-apac-followed-by-japan-and-china-report-646907.html Thu, 06 Nov 2025 01:35:00 +0530 https://dailyworld.in/business/porter-lays-off-hundreds-of-employees-amid-restructuring-exercise-646908.html Bengaluru Nov 5 Ondemand logistics platform Porter has announced job cuts as part of its efforts to reduce costs and strengthen its operations The company did not share the exact number of employees affected but according to reports around 300 to 350 workers have been laid offIn a statement Porter said it is going through a transition aimed at building a stronger more agile and financially stable organisationThe company described the layoffs as a onetime restructuring decision made after careful considerationWere in the midst of a transition that required a onetime restructuring aimed at building a stronger more agile and financially resilient organisation for the road ahead Porter saidAs part of this journey weve had to make some difficult decisions that affect our people choices that were not easy and were made after careful consideration it addedThe move comes as Porter prepares for a possible public listing Reports suggest that the company is in the final stages of securing 100110 million in new funding from both existing and new investorsThis would raise the total investment in Porter to about 300310 million as part of an extended funding roundEarlier in May Porter had raised 200 million in a round led by Kedaara Capital and Wellington Management valuing the company at around 12 billionFounded in 2014 by Pranav Goel Uttam Digga and Vikas Choudhary Porter offers a range of logistics services including ondemand trucking courier services packing and moving and enterprise logisticsIn the financial year 2025 Porter reported a 57 per cent increase in operating revenue to Rs 4306 crore and turned profitable posting a net profit of Rs 55 crore compared to a loss of Rs 96 crore in the previous yearThe company said the restructuring is part of its plan to ensure longterm growth and efficiency as it continues to expand in the competitive logistics market IANS https://dailyworld.in/business/porter-lays-off-hundreds-of-employees-amid-restructuring-exercise-646908.html Thu, 06 Nov 2025 01:36:00 +0530 https://dailyworld.in/business/yen-loans-backfire-on-bangladesh-as-japans-currency-turns-volatile-646708.html New Delhi Nov 4 Bangladeshs strategy of borrowing in Japanese yen to avoid paying high dollarbased interest rates has started backfiring due to the currency volatility and rising interest rates in Japan The South Asian country has for instance ended up losing 13 million to exchange rate differences on a recent 600 million budget support loan from the Asian Development Bank taken entirely in yen according to a report in Bangladeshs Business Standard newspaperLast year too the government took a 300 million loan for the Bangladesh Second Recovery amp Resilience Development Policy in yen Another 400 million Climate Resilient Inclusive Development Programme loan from the Asian Infrastructure Investment Bank AIIB was also denominated in yen Similarly a 100 million portion of a World Bank budget support loan for the Resilient Urban and Territorial Development Project was taken in yen the report statesDespite the appeal of low interest rates in Japan the downside risks are growing The yen has appreciated by about 7 per cent against the US dollar in just one month and Japans interest rates are trending upward This combination threatens to raise the real cost of repaying yendenominated loans especially for a country like Bangladesh whose reserves are still overwhelmingly dollarbased the report statesNowhere is this risk more visible than in the World Bankfinanced Chattogram Water Supply Improvement Project The 280 million loan was split between dollars and yen with half 213 billion yen or 140 million taken in yen to hedge against dollar interest rate hikes The rest remains in dollarsBut with repayments nearing the Chattogram Water and Sewerage Authority Wasa is facing an annual debt service burden of over 23 million for six yearsaround 300 crore takas per year Officials warn this could severely strain Wasas finances especially as the project does not generate commercial revenues the report points outChattogram Wasa Managing Director Muhammad Anwar Pasha said that foreign loan decisions are made at the policy level by the Local Government Division Finance Division and the Economic Relations Division ERD adding that any action on easing the repayment pressure would require government interventionAt the same Executive Committee of the National Economic Council Ecnec meeting that approved the Chattogram project on 20 April another major yen loan was greenlit a 650 million World Bank loan for the Bay Terminal Marine Infrastructure Development Project of which 400 million will be taken in yen to avoid high marketbased interest on the dollardenominated portionThe yendenominated debt is growing fast ERD data shows that as of 30 June 2024 Bangladeshs yen loan portfolio stood at nearly 12 billionup from 752 billion just four years earlier the report points outBut Finance Division officials are raising red flags What was once seen as a strategic hedge now carries mounting risks Exchange rate fluctuations between the yen and the dollar have exposed Bangladesh to new vulnerabilities particularly in the absence of a formal policy guiding the use of marketbased or nondollar loans the report added IANS https://dailyworld.in/business/yen-loans-backfire-on-bangladesh-as-japans-currency-turns-volatile-646708.html Wed, 05 Nov 2025 00:06:00 +0530 https://dailyworld.in/business/sri-lankan-opposition-leader-visits-niti-aayog-646714.html New Delhi Nov 4 NITI Aayog hosted a distinguished delegation from Sri Lanka led by Leader of Opposition Sajith Premadasa here on Tuesday In his opening remarks Premadasa commended Indias transformative journey in the past 11 years under the leadership of Prime Minister Narendra Modi and expressed his interest in understanding the NITI Aayogs role as a policy think tank to bridge longterm policy design with onground implementationNITI Aayog Vice Chairman Suman K Bery provided an overview of Indias economic transformation with a focused discussion on fostering deeper collaboration between the two countries and sharing insights on Indias policy process and transformative initiatives in the sectors of infrastructure and economic cooperationThe Vice Chairman concluded the meeting by stressing NITI Aayogs continued commitment to enhancing regional cooperation and advancing shared development goals with Sri Lanka in the spirit of good neighbourliness and mutual growth as agreed between the two governments through official channelsIndia is Sri Lankas largest trading partner and was one of the first countries with which Sri Lanka signed a Free Trade Agreement FTA Recently a highlevel Sri Lankan delegation led by Minister of Trade Wasantha Samarasinghe visited IndiaSamarasinghe said that while Sri Lanka imports many consumer goods from India the country has also provided significant support to Sri Lanka during difficult times He said that the island nation was working to address the trade imbalance by utilising provisions in the existing trade agreement to increase Sri Lankan exports to India Sri Lanka has plans to increase shipments of garments textiles tea and other products to the Indian marketIndia is Sri Lankas largest trade partner According to the Department of Commerce the merchandise trade between India and Sri Lanka reached 55 billion in FY 202324 with Indias exports amounting to 41 billion while Sri Lankas exports reached 14 billion Bilateral trade was also supported by various Lines of Credit and a Credit facility for the procurement of essential itemsIndia is also one of the largest contributors to Foreign Direct Investment FDI in Sri Lanka with a cumulative figure of approx 22 billion till 2023 The main investments from India are in the areas of energy hospitality real estate manufacturing telecommunication banking and financial services Going forward the priority areas would be to expedite important projects in crucial sectors such as energy ports amp shipping renewable energy and defence supplies according to an official statement IANS https://dailyworld.in/business/sri-lankan-opposition-leader-visits-niti-aayog-646714.html Wed, 05 Nov 2025 00:24:00 +0530 https://dailyworld.in/business/indias-data-centre-industry-set-to-grow-eightfold-by-2030-646719.html New Delhi Nov 4 Indias data centre industry is witnessing a massive boom driven by the countrys rapid digital transformation growing internet usage and rising demand for AI and cloudbased services With Googles 15 billion investment India is positioning itself as a major global data hubAccording to estimates Indias data centre capacity is expected to grow from the current 12 GW to about 8 GW by 2030 expanding at an annual rate of nearly 17 per cent according to Trade Brains reportThis growth will make India one of the fastestgrowing data centre markets in the worldThe surge in internet penetration and data usage has been a key growth driverIndias internet penetration has risen from 334 per cent in 2019 to 553 per cent in early 2025 with more than one billion active subscribersAverage monthly data consumption per user has also tripled from 115 GB in 2019 to nearly 32 GB in 2025 thanks to the rollout of 5G networks affordable data plans and the growing popularity of streaming and online entertainmentThe increasing digitalisation of the banking and financial services sector along with the rise of ecommerce and cloudbased businesses has also pushed the demand for reliable data storage and processing facilitiesAs AI applications and OTT platforms continue to expand the need for largescale energyefficient data centres has become even more crucialIndias data centre market has grown significantly in recent years from a capacity of 590 MW in 2019 to about 12 GW currentlyThe industry generated about 12 billion in revenue in 2024 and according to Statista this figure is expected to jump to 1153 billion by 2025At present India has more than 260 operational data centres with most of them located in major hubs such as Mumbai Metropolitan Region MMR Chennai Delhi Hyderabad and Bengaluru MMR and Chennai alone account for nearly 70 per cent of the total data centre capacityIndustry data from Anarock Capital shows that around 60 per cent of data centre clients are enterprises 30 per cent are hyperscalers like Google Amazon Web Services and Microsoft and the remaining 10 per cent are AI usersWith AI workloads growing rapidly the demand from all three segments is expected to increase furtherSeveral global and domestic companies are expanding their footprint in Indias data centre ecosystem Major international players such as Equinix Digital Realty NTT Global Data Centres CyrusOne and Meta Platforms are already investing heavily in the countryAdaniConnex a joint venture between Adani Group and EdgeConneX plans to develop 1 GW of data centre capacity over the next decadeSimilarly Digital Connexion a partnership between Digital Realty Brookfield Infrastructure and Jio Platforms is expanding aggressively Other key players include ST Telemedia Global Data Centres which has partnered with Tata Communications Hiranandani Groups Yotta Data Services and Bharti Airtels NxtraCtrlS also operates one of Asias largest Rated4 data centre networks in major cities like Mumbai Noida Bengaluru and Hyderabad IANS https://dailyworld.in/business/indias-data-centre-industry-set-to-grow-eightfold-by-2030-646719.html Wed, 05 Nov 2025 00:35:00 +0530 https://dailyworld.in/business/indian-stock-markets-closed-on-nov-5-for-guru-nanak-jayanti-trade-to-resume-tomorrow-646750.html Mumbai Nov 5 The Bombay Stock Exchange BSE and the National Stock Exchange NSE remained closed on Wednesday on account of Prakash Gurpurb Sri Guru Nanak Dev also known as Guru Nanak Jayanti Trading across segments including equities derivatives securities lending and borrowing SLBs currency derivatives and interest rate derivatives stayed shut for the dayThe commodity derivatives market was also closed in the morning session between 9 am and 5 pm but will open for the evening session from 5 pm to 11301155 pmRegular trading on both exchanges will resume on Thursday November 6On Tuesday Indian stock markets ended lower with the Nifty slipping below the 25600 mark amid broadbased selling pressureThe Sensex fell 51934 points or 062 per cent to close at 8345915 while the Nifty dropped 16570 points or 064 per cent to end at 2559765The BSE Midcap index declined 02 per cent and the Smallcap index fell 07 per centAmong major Nifty stocks Power Grid Corp Coal India Tata Motors Passenger Vehicles Bajaj Auto and Eternal were the top losersOn the other hand Titan Company Bharti Airtel Bajaj Finance HDFC Life and MampM gained during the sessionBarring telecom and consumer durable sectors all other indices ended in the red IT auto FMCG metal power realty and PSU indices slipped between 05 to 1 per centMarket analysts said that the Nifty has retested its 20day exponential moving average EMA A sustained move below this level could weaken the positive sentiment and extend the correction toward 25400On the higher side 25800 is likely to act as an immediate resistance level Traders have been advised to remain cautious and focus on risk management until a clear market direction emerges experts said IANS https://dailyworld.in/business/indian-stock-markets-closed-on-nov-5-for-guru-nanak-jayanti-trade-to-resume-tomorrow-646750.html Wed, 05 Nov 2025 09:49:00 +0530 https://dailyworld.in/business/lg-electronics-plans-to-shift-capital-goods-production-to-india-lg-corp-to-invest-rs-1-000-crore-in-noida-rampd-centre-646761.html New Delhi Nov 5 Korean multinational LG Electronics is planning to move the production of some of its newer capital goods businesses to India These capital goods are used for setting up factories that produce electronic products displays and hightech componentsThe shift is expected to take place from existing facilities in Korea China and Vietnam according to reportsThis move is part of LGs broader strategy to expand its manufacturing base in India and strengthen local production capabilities amid a global push for supply chain diversificationIn a separate development LG Corp the holding company of the LG Group is investing Rs 1000 crore to establish a new global research and development RampD centre in NoidaThe upcoming facility will focus on innovation in electronics and technology design and is expected to generate around 500 jobsThe development comes at a time when LG Electronics India has been receiving strong investor confidenceOn its market debut last month LG Electronics India shares surged over 50 per cent valuing the company at 1307 billion Rs 115 lakh crore surpassing its South Korean parents market capitalisation of nearly 10 billion Rs 8800 croreThe companys successful IPO reflected strong optimism about its longterm growth potential and localisation effortsBrokerage firms such as Prabhudas Lilladher and Motilal Oswal have given a Buy rating on the stock highlighting its robust distribution network premium brand positioning and strategic focus on highmargin businessesIndustry analysts believe that LG Electronics India with its leadership in key product segments and ongoing investments in manufacturing and research is wellpositioned to capitalise on the fastgrowing Indian consumer electronics and appliances market which is projected to grow at a 14 per cent CAGR over 20242029 IANS https://dailyworld.in/business/lg-electronics-plans-to-shift-capital-goods-production-to-india-lg-corp-to-invest-rs-1-000-crore-in-noida-rampd-centre-646761.html Wed, 05 Nov 2025 10:21:00 +0530 https://dailyworld.in/business/look-forward-to-expediting-process-for-free-trade-pact-with-new-zealand-piyush-goyal-646773.html New Delhi Nov 5 Commerce and Industry Minister Piyush Goyal said on Wednesday he was set to review the progress of the ongoing free trade agreement FTA negotiations with New Zealand Goyal reached New Zealand for talks on the proposed FTA between the two countriesDelighted to be in New Zealand to review the progress of the ongoing FTA negotiations Grateful to my good friend and counterpart Todd McClay for the warm welcome Together we look forward to expediting the process for a comprehensive mutually beneficial economic partnership the minister posted on X social media platformGoyal further stated that he will also meet industry leaders along with investors to explore new avenues for collaboration and investment between our two countriesAccording to an earlier ministry statement the 4th round of IndiaNew Zealand FTA negotiations commenced in Auckland on November 3 marking an important step in deepening the bilateral trade and economic dialogue between the two nationsThe talks which are taking place in Auckland till November 7 mark a renewed effort to craft a balanced comprehensive and mutually beneficial deal after months of technical discussions the ministry saidGoyal will participate in a series of highlevel engagements aimed at strengthening trade investment and innovation linkages between India and New ZealandThese include a dedicated interaction with prominent members of the New Zealand business community and the visiting Indian business delegation facilitating greater collaboration between the private sectors of both countries the statement said A New ZealandIndia Business Forum will be held in the afternoon in Auckland followed by a community interaction event with members of the vibrant Indian diasporaAccording to the ministry the engagements are expected to see participation from industry leaders chambers of commerce and government representatives from New Zealand reaffirming the growing momentum in bilateral relations and the shared vision for a stronger futureoriented economic partnership IANS https://dailyworld.in/business/look-forward-to-expediting-process-for-free-trade-pact-with-new-zealand-piyush-goyal-646773.html Wed, 05 Nov 2025 11:02:00 +0530 https://dailyworld.in/business/softbank-shares-plunge-over-13-pc-amid-ai-stock-sell-off-646778.html New Delhi Nov 5 Shares of Japans SoftBank Group tumbled more than 13 per cent on the Tokyo Stock Exchange on Wednesday as a broader selloff in technology stocks hit investor sentiment The sharp fall followed Tuesdays 7 per cent decline wiping out nearly 50 billion in SoftBanks market capitalisation over just two daysThe slump came amid rising concerns over the high valuations of AI and semiconductor companies which triggered a selloff on Wall Street earlier this weekDespite the steep decline SoftBank remains a multibagger stock having surged nearly 206 per cent in the past six months and 154 per cent over the last yearSoftBank has built a diverse portfolio of AIdriven businesses spanning infrastructure semiconductors and software applicationsThe company holds a controlling stake in UKbased Arm Holdings whose chip designs power many mobile and AI processorsRecently it also acquired Ampere Computing to boost its AI data centre capabilitiesOther semiconductor and AI stocks in Asia also saw heavy losses on Wednesday Semiconductor testing firm Advantest dropped over 8 per cent while chipmaker Renesas Electronics fell around 6 per cent Shares of Nasdaqlisted Arm Holdings slid 471 per cent overnightAccording to market reports the fall in AI and semiconductor stocks followed an 8 per cent drop in US software company Palantirs shares despite the firm reporting strong thirdquarter resultsAnalysts say investors are becoming cautious as the ongoing AI rally has pushed valuations to unsustainable levelsThe SampP 500s forward pricetoearnings ratio has now climbed above 23 its highest since the dotcom bubble in 2000 as per data from FactSetAdding to the bearish sentiment investor Michael Burry famous for predicting the 2008 financial crisis disclosed short positions in Palantir and Nvidia both major beneficiaries of the AI boomFollowing the revelation Nvidia shares fell 4 per cent and AMD dropped 37 per cent in afterhours tradingMarket analysts are warning that the growing excitement around artificial intelligence may be fueling a new tech bubbleMany experts believe the current surge in AI stock prices mirrors the speculative mania of the late 1990s dotcom boom with valuations far exceeding realistic earnings expectations IANS https://dailyworld.in/business/softbank-shares-plunge-over-13-pc-amid-ai-stock-sell-off-646778.html Wed, 05 Nov 2025 11:43:00 +0530 https://dailyworld.in/business/60pc-gen-z-fresh-graduateskeenonupskilling-learning-ai-and-data-skills-in-india-report-646794.html New Delhi Nov 5 Generation Z and fresh graduates are leading the skilling ecosystem in India with a majority of them actively learning artificial intelligence and data skills according to a report on Wednesday The report by Deel a global payroll and compliance platform is based on a survey of 5058 employees representing Gen Z ages 28 or under millennials ages 2944 and Gen X ages 4560It showed that the vast majority of Indias whitecollar professionals 96 per cent have upskilled in the past year however the learning priorities and motivations differ sharply across generationsGen Z and fresh graduates are leading the skilling charge at 61 per cent and 63 per cent respectively with access to upskilling opportunities as a key retention factor to stay with an employerThe younger workforce is also riding the AI wave with more than half of Gen Z 54 per cent and fresh graduates 57 per cent actively learning AI and data skillsMillennials are lagging with only 2 in 5 40 per cent learning new skills Meanwhile Gen X 38 per cent continues to prioritise traditional domain expertise focusing on core professional and functional skills over new technologiesIndias workforce is entering a new era where motivation for learning is high but the barriers differ for each generation said Mark Samlal General Manager APAC at DeelBy curating flexible and accessible learning programmes that align with different life stages and work realities employers can bridge the skills gap and strengthen retention and loyalty across generations Samlal addedGen Z 61 per cent was found to be the most influenced by upskilling when deciding whether to stay with an employer Freshers 63 per cent share the same sentiment showing a strong link between learning access and earlycareer retentionFurther while twothirds of Gen Z 66 per cent are confident that their skills will remain relevant over the next five years less than half of millennials 48 per cent and just over a third of Gen X 36 per cent feel the same wayBut Gen Z cited that cost 31 per cent is holding them back from upskilling On the other hand millennials struggle with time constraints 35 per cent and Gen X points to limited employer support 29 per cent the report said IANS https://dailyworld.in/business/60pc-gen-z-fresh-graduateskeenonupskilling-learning-ai-and-data-skills-in-india-report-646794.html Wed, 05 Nov 2025 13:09:00 +0530 https://dailyworld.in/business/60-pc-gen-z-fresh-graduateskeenonupskilling-learning-ai-and-data-skills-in-india-report-646797.html New Delhi Nov 5 Generation Z and fresh graduates are leading the skilling ecosystem in India with a majority of them actively learning artificial intelligence and data skills according to a report on Wednesday The report by Deel a global payroll and compliance platform is based on a survey of 5058 employees representing Gen Z ages 28 or under millennials ages 2944 and Gen X ages 4560It showed that the vast majority of Indias whitecollar professionals 96 per cent have upskilled in the past year however the learning priorities and motivations differ sharply across generationsGen Z and fresh graduates are leading the skilling charge at 61 per cent and 63 per cent respectively with access to upskilling opportunities as a key retention factor to stay with an employerThe younger workforce is also riding the AI wave with more than half of Gen Z 54 per cent and fresh graduates 57 per cent actively learning AI and data skillsMillennials are lagging with only 2 in 5 40 per cent learning new skills Meanwhile Gen X 38 per cent continues to prioritise traditional domain expertise focusing on core professional and functional skills over new technologiesIndias workforce is entering a new era where motivation for learning is high but the barriers differ for each generation said Mark Samlal General Manager APAC at DeelBy curating flexible and accessible learning programmes that align with different life stages and work realities employers can bridge the skills gap and strengthen retention and loyalty across generations Samlal addedGen Z 61 per cent was found to be the most influenced by upskilling when deciding whether to stay with an employer Freshers 63 per cent share the same sentiment showing a strong link between learning access and earlycareer retentionFurther while twothirds of Gen Z 66 per cent are confident that their skills will remain relevant over the next five years less than half of millennials 48 per cent and just over a third of Gen X 36 per cent feel the same wayBut Gen Z cited that cost 31 per cent is holding them back from upskilling On the other hand millennials struggle with time constraints 35 per cent and Gen X points to limited employer support 29 per cent the report said IANS https://dailyworld.in/business/60-pc-gen-z-fresh-graduateskeenonupskilling-learning-ai-and-data-skills-in-india-report-646797.html Wed, 05 Nov 2025 14:23:00 +0530 https://dailyworld.in/business/indias-infra-investment-trust-market-likely-to-touch-rs-21-lakh-crore-by-2030-646798.html New Delhi Nov 5 Indias infrastructure investment trust InvIT market is projected to reach Rs 21 lakh crore by 2030 fuelled primarily by infrastructure investment requirements a report said on Wednesday Asset management firm Client Associates CA in a white paper said that the growth will be driven by 45 trillion in infrastructure investment needs by 2030 government initiatives such as the National Infrastructure Pipeline NIP increased institutional allocations to alternative assetsFurther corporate capital optimisation via InvITs and low retail penetration offering meaningful room for growth the firm saidClient Associates in the white paper reported that InvITs achieved average pretax returns of 1012 per cent and posttax returns of 79 per cent outperforming traditional fixedincome instrumentsInvITs exhibit a distinct riskreturn profile with volatility of 102 per cent versus 154 per cent for equities offering a relatively stable investment profile while delivering total returns of 122 per cent slightly below equities of 123 per cent but providing steady income the report saidAs of FY25 Indias InvIT ecosystem includes 27 registered trusts with a combined AUM of Rs 63 lakh crore having mobilised approximately 158 billion over the past five years it notedThe report highlighted a recent SEBI decision that reclassified REITs as equity for mutual funds while keeping InvITs categorised as hybridsThis shows that REITs are more aligned with equity in terms of structure and liquidity while InvITs are predominantly privately placed with more stable cash flows and lesser liquidity behaving more like debthybrid rather than equity Client Associates highlightedThe white paper mentioned that government reforms are driving growth including the National Infrastructure Pipeline NIP asset monetisation through entities such as NHAI and tax reforms in 2024 that reduced longterm capital gains LTCG IANS https://dailyworld.in/business/indias-infra-investment-trust-market-likely-to-touch-rs-21-lakh-crore-by-2030-646798.html Wed, 05 Nov 2025 14:27:00 +0530 https://dailyworld.in/business/adani-enterprises-reports-strong-84-pc-net-profit-growth-in-q2-core-infra-businesses-shine-646661.html Ahmedabad Nov 4 Adani Enterprises Ltd AEL the flagship company of the Adani Group on Tuesday reported robust results for the JulySeptember quarter and the first six months of the current fiscal FY26 clocking an impressive 84 per cent increase in Q2 net profit at Rs 3199 crore The AEL Board approved a partly paidup rights issue of Rs 25000 crore for strengthening its balance sheet further to support the next phase of incubationConsolidated EBITDA stood at Rs 7688 crore in H1 FY26 while consolidated profit before tax PBT came at Rs 2281 crore the company said in an exchange filingThe emerging core infra businesses have recorded halfyearly EBITDA of Rs 5470 crore with an increase of 5 per cent on a yearonyear basis and now contribute 71 per cent to total EBITDA it informedWith disciplined execution and strategic diversification Adani Enterprises Ltd continues to strengthen its position as Indias leading incubator of transformative infrastructure and energy businesses said Gautam Adani Chairman of the Adani GroupThe inauguration of the Navi Mumbai International Airport marks a defining moment in Indias infrastructure story and reinforces AELs role as a national growth catalyst Our strong performance across airports data centres and roads underscores the momentum of our core infrastructure portfolio the Adani Group Chairman addedWith partnerships such as the one with Google for Indias largest AI data centre and rapid progress in our green energy ecosystem AEL is accelerating Indias transition toward a sustainable technologydriven futureAdani Airports Holdings Ltd AAHL Airports EBITDA increased by 51 per cent YoY to Rs 2157 crore with the airports business now tracking at a quarterly runrate of more than Rs 1000 croreGreenfield Navi Mumbai International Airport was inaugurated on October 8 2025 a major landmark in Indias aviation journey which is set to commence operations from Q3 FY26During the quarter Q2 seven new routes eight new flights and one new airline were addedWithin the Adani New Industries Ltd ANIL module sales continue to track to 1 GW per quarter as domestic sales increased by 43 per cent during H1 FY26 on a YoY basisAccording to the company construction for an additional 6 GW cell and module lines is progressing as per scheduleWe remain committed to building globally competitive businesses that create enduring value for our stakeholders and strengthen the foundation of a selfreliant India Gautam Adani said IANS https://dailyworld.in/business/adani-enterprises-reports-strong-84-pc-net-profit-growth-in-q2-core-infra-businesses-shine-646661.html Tue, 04 Nov 2025 21:28:00 +0530 https://dailyworld.in/business/telangana-cm-seeks-german-support-to-make-hyderabad-global-innovation-hub-646663.html Hyderabad Nov 4 Telangana Chief Minister A Revanth Reddy has sought Germanys support for the vision to develop Hyderabad as a global innovation hub Telangana seeks a strong partnership with Germany in key investment areas including IT pharma and automobiles he said when a delegation led by German Consul General Michael Hasper called on him here on TuesdayThe German delegation informed the Chief Minister that Deutsche Börse a leading global financial services company is launching its Global Capability Centre GCC in Hyderabad as part of its expansion plansThe Chief Minister expressed his gratitude to the German team for choosing Hyderabad as the destination for setting up the GCC He assured that the Telangana government would extend full support and cooperation for all future German investments in the stateAccording to the Chief Ministers Office the German representatives briefed the Chief Minister that with the establishment of Deutsche Borses GCC about 1000 new employment opportunities will be created in the IT sector in Hyderabad over the next two yearsRevanth Reddy requested the German delegation to support Telanganas vision to develop Hyderabad as a global innovation hub He also urged the German Consul General to facilitate the appointment of German language teachers in Telangana so that local students can learn the German language and improve their international employment prospectsHe also proposed collaboration through Telangana Overseas Manpower Company TOMCOM to strengthen vocational education and skill development programs enabling youth to gain practical industry trainingMeanwhile a delegation of Amazon Web Services AWS also called on the Chief Minister in Hyderabad on TuesdayDuring the meeting the delegation discussed with the Chief Minister the ongoing data centre projects expansion plans and other AWS initiatives in TelanganaThe Chief Minister assured the delegation that the Telangana government will extend full support and cooperation for AWSs present and future investments in the stateThe meeting was attended by Kerry Person Global Head AWS Data Centres Vikram Sridharan Director Infrastructure Public Policy and other officials IANS https://dailyworld.in/business/telangana-cm-seeks-german-support-to-make-hyderabad-global-innovation-hub-646663.html Tue, 04 Nov 2025 21:29:00 +0530 https://dailyworld.in/business/centre-launches-3rd-round-of-pli-scheme-for-specialty-steel-646667.html New Delhi Nov 4 Union Steel and Heavy Industries Minister HD Kumaraswamy on Tuesday launched the third round of the productionlinked incentive PLI scheme for specialty steel according to an official statement issued on Tuesday The Steel Ministrys 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 As of September 2025 participating companies in the first two rounds of the PLI scheme have invested Rs 22973 crore and generated 13284 jobs the statement saidThe PLI Scheme for Specialty Steel approved by the Cabinet in July 2021 is a key initiative under the Atmanirbhar Bharat vision to make India a global hub for steel production The 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 steels This is expected to generate significant employment expand highend steel capacity and position India as a preferred supplier in the global value chain for specialty steels the statement saidApplications in the third round of the PLI scheme for speciality steel are invited through the online portal httpsplimosmeconcoin for a period of 30 days from the date of launchCompanies registered in India which are engaged in the endtoend manufacturing of the notified products are eligible to applyThe third round of the PLI Scheme covers 22 product subcategories across five broad target segments including strategic steel grades commercial grades Categories 1 and 2 and coatedwire productsThe incentives will range from 4 per cent to 15 per cent of incremental sales depending on the product subcategory and year of production The benefits will be available for a maximum of five years starting from FY 202526 with incentive disbursal commencing in FY 202627The base year for prices under the scheme has been revised from 201920 to 202425 to reflect current trends the statement added IANS https://dailyworld.in/business/centre-launches-3rd-round-of-pli-scheme-for-specialty-steel-646667.html Tue, 04 Nov 2025 21:32:00 +0530 https://dailyworld.in/business/no-blanket-cancellations-of-renewable-energy-projects-due-diligence-underway-govt-646672.html New Delhi Nov 4 The Government on Tuesday said it is closely monitoring the cases where Letters of Award have been issued by Renewable Energy Implementing Agencies REIAs but power sale agreements PSAs with DISCOMs or end procurers have not yet been finalised As of September 30 Renewable Energy Implementing Agencies REIAs have issued Letters of Award LoAs for 43942 MW of capacity where PSAs with end procurers remain unsignedSome DISCOMs have expressed apprehensions in signing PSAs for such bids wherein the likely start date of connectivity for the successful bidders is in the distant futureREIAs have been advised to carry out due diligence by reviewing and categorising such cases based on the likelihood of securing PSAs with end procurers according to the Ministry of New and Renewable EnergyThis assessment would consider multiple factors including the configuration of renewable energy envisaged to be supplied under the bid the discovered tariff for supply of renewable power and the expected timeline for connectivity said the ministryFollowing this review only those LoAs with minimal or no prospects of PSA execution may be considered for cancellation on a casetocase basis Even then such cancellations are expected to be phased and undertaken only after all feasible and viable options for executing the Power Sale Agreements PSAs and corresponding Power Purchase Agreements PPAs have been thoroughly exploredTo facilitate the execution of PSAs the government has undertaken several proactive measuresThese include urging States to comply with the Renewable Consumption Obligation RCO under the Energy Conservation Act and advising Renewable Energy Implementing Agencies REIAs to aggregate demand from DISCOMs and other consumers before designing and issuing tendersIn addition the Standard Bidding Guidelines for solar wind hybrid and Firm and Dispatchable Renewable Energy FDRE have been amended to allow for cancellation of Letters of Award LoAs that remain unexecuted beyond 12 months from the date of issuance the ministry informedDespite global challenges such as supply chain disruptions and tighter financing conditions India added around 29 GW of renewable energy capacity excluding large hydro in the last financial year and around 25 GW has already been added in the first half of FY 202526This growth is being driven not only by central and stateled bids but also by commercial and industrial consumers Investor interest remains strong with a clear shift toward integrated and storagebacked portfolios according to the Ministry of New and Renewable EnergyFrom around 35 GW in 2014 the country now has over 197 GW of installed capacity excluding large hydroThe Rs 24 lakh crore investment plan for transmission associated with 500 GW of renewable energy along with recent amendments to the General Network Access GNA regulations is designed to unlock stranded capacity and enable dynamic corridor sharingThese reforms are expected to ease congestion and improve grid access in renewablerich states IANS https://dailyworld.in/business/no-blanket-cancellations-of-renewable-energy-projects-due-diligence-underway-govt-646672.html Tue, 04 Nov 2025 21:42:00 +0530 https://dailyworld.in/business/indigo-back-into-red-with-rs-2-582-crore-loss-in-q2-646677.html Mumbai Nov 4 Aviation major IndiGo on Tuesday slipped into a loss of Rs 2582 crore in the JulySeptember quarter Q2 of FY26 compared with a profit of Rs 2176 crore in the previous AprilJune quarter Q1 FY26 The airlines loss also widened from Rs 987 crore in the same period last financial year Q2 FY25 according to its stock exchange filingHowever IndiGos revenue from operations rose 9 per cent yearonyear YoY to Rs 18555 crore driven by strong passenger and ancillary incomePassenger ticket revenues grew 112 per cent to Rs 15967 crore while ancillary revenues such as baggage fees and inflight sales rose 14 per cent to Rs 2141 croreThe airlines EBITDAR earnings before interest tax depreciation amortisation and rent dropped sharply to Rs 1114 crore from Rs 2434 crore a year agoHowever excluding the impact of foreign exchange forex losses IndiGos EBITDAR increased 43 per cent yearonyear to Rs 3800 crore with margins improving to 205 per cent from 157 per centIndiGo said its loss during the quarter was mainly due to the impact of currency movement leading to a steep forex loss of Rs 2892 crore compared with Rs 241 crore in the same period last financial yearWithout the forex impact the airline would have reported a net profit of Rs 104 crore as per its regulatory filingRental and aircraft maintenance costs rose to Rs 3262 crore from Rs 2745 crore a year earlier while tax expenses stood at Rs 100 crore up from Rs 80 crore last financial yearCommenting on the results IndiGo CEO Pieter Elbers said As Indias aviation sector continues to grow and mature we recognise the importance of structurally optimising capacity during seasonally weaker periods to sustain profitabilityHe added that the airline had delivered strong operational performance maintaining its leadership in ontime performance and expanding its networkOn Tuesday shares of InterGlobe Aviation Limited the parent company of IndiGo closed 106 per cent lower at Rs 5635 on the BSE IANS https://dailyworld.in/business/indigo-back-into-red-with-rs-2-582-crore-loss-in-q2-646677.html Tue, 04 Nov 2025 21:47:00 +0530 https://dailyworld.in/business/drdo-made-significant-strides-in-semiconductor-technology-govt-646684.html New Delhi Nov 4 The Defence Research and Development Organisation DRDO has made significant strides in semiconductor technology said the Ministry of Defence on Tuesday The ministry noted that using semiconductor technologies DRDO developed indigenous methodsSemiconductors play a major role in modern technology ecosystems powering critical systems in healthcare communications transport defence and space the Ministry saidDRDO has made significant strides in semiconductor technology by developing indigenous methods for producing 4inch Silicon Carbide wafers and fabricating Gallium Nitride High Electron Mobility Transistors up to 150W it addedDRDO will participate in the Emerging Science Technology and Innovation Conclave ESTIC 2025 being held at Bharat Mandapam in New Delhi from November 35As one of the key organisers DRDO will also lead the thematic session on Electronics amp Semiconductor Manufacturing while Chairman Dr Samir V Kamat will chair a Technical Session on Electronics and Semiconductor Manufacturing on November 5The conclave on the theme Viksit Bharat 2047 Pioneering Sustainable Innovation Technological Advancement and Empowerment was inaugurated by Prime Minister Narendra Modi on November 3In the inaugural session the Prime Minister launched the Rs 1 lakh crore Research Development and Innovation RDI Scheme Fund to promote a private sectordriven research and innovation ecosystem and accelerate Indias transformation into a global science and technology hubHe emphasised that efforts are being made to promote research and development in the private sector as wellThe conclave is featuring talks by leading scientists panel discussions presentations and technology showcases providing a platform for collaboration among researchers industry and young innovators to strengthen the science and technology ecosystemESTIC 2025 is bringing together over 3000 participants from academia research institutions industry and government along with Nobel laureates eminent scientists innovators and policymakers IANS https://dailyworld.in/business/drdo-made-significant-strides-in-semiconductor-technology-govt-646684.html Tue, 04 Nov 2025 22:01:00 +0530 https://dailyworld.in/business/indian-hotels-clocks-486-pc-drop-in-q2-net-profit-to-rs-285-crore-646693.html Mumbai Nov 4 Tata Groups hospitality arm Indian Hotels Company Limited IHCL on Tuesday reported a 486 per cent yearonyear YoY drop in net profit to Rs 285 crore for the quarter ended September 2025 Q2 FY26 The company had posted a profit of Rs 555 crore in the same quarter last financial year Q2 FY25 according to its stock exchange filingDespite the fall in profit IHCLs revenue from operations rose 118 per cent to Rs 20408 crore compared with Rs 1826 crore in the corresponding period of the previous financial yearThe companys EBITDA earnings before interest tax depreciation and amortisation also showed improvement rising 142 per cent yearonyear YoY to Rs 572 crore from Rs 501 crore a year agoThe EBITDA margin improved slightly to 28 per cent compared with 274 per cent in the same quarter last financial yearOn the market front IHCL shares ended at Rs 74375 on the BSE down Rs 330 or 044 per cent on TuesdayOver the last five days the stock gained Rs 235 or 032 per cent while in the past month it rose Rs 2065 or 285 per centHowever over a longer period the stock has faced some pressure In the last six months IHCL shares fell Rs 5760 or 718 per cent and on a yeartodate YTD basis they are down Rs 12940 or 1481 per centStill over the past one year the stock has gained Rs 7765 or 1165 per centThe Indian Hotels Company Limited IHCL is South Asias biggest hospitality group It was founded in 1903 by Jamsetji Tata who started it with the opening of The Taj Mahal Palace in MumbaiThe company is best known for its Taj hotels and its unique culture called Tajness which combines Indian tradition with modern hospitalityToday IHCL runs more than 550 hotels across four continents and focuses on being both innovative and sustainable IANS https://dailyworld.in/business/indian-hotels-clocks-486-pc-drop-in-q2-net-profit-to-rs-285-crore-646693.html Tue, 04 Nov 2025 22:16:00 +0530 https://dailyworld.in/business/nclat-gives-partial-relief-to-meta-removes-data-sharing-ban-in-whatsapp-privacy-policy-case-646699.html New Delhi Nov 4 The National Company Law Appellate Tribunal NCLAT has given partial relief to Meta Platforms and its messaging app WhatsApp in the ongoing competition case related to WhatsApps 2021 privacy policy update The tribunal upheld the Rs 21314 crore penalty imposed by the Competition Commission of India CCI but cancelled two major parts of the earlier order the finding that WhatsApp held a dominant position and the fiveyear ban on sharing user data for advertising purposesThe case dates back to November 2024 when the CCI ruled that WhatsApp had misused its dominant position in Indias OTT messaging marketThe regulator said WhatsApp forced users to accept its 2021 update which made data sharing with other Meta companies mandatory removing the earlier option to opt outThe CCI said this policy weakened competition in the online advertising marketAlong with the fine the CCI had ordered WhatsApp to stop sharing user data with Metas other companies for advertising for five yearsHowever the NCLAT bench led by Justice Ashok Bhushan and Technical Member Arun Baroka struck down these parts of the orderThe tribunal said the CCI had gone beyond its authority under Section 42e of the Competition Act and removed the restriction mentioned in paragraph 2471 of the decisionThe NCLAT agreed with Metas argument that banning data sharing could affect WhatsApps freetouse model and pointed out that matters related to data protection fall outside the CCIs powersA Meta spokesperson welcomed the decision saying We welcome the NCLATs decision While we await the written order we continue to reiterate that WhatsApps 2021 privacy policy update did not change the privacy of peoples personal messages which remain endtoend encryptedThe spokesperson added that WhatsApps business features such as bill payments ticket booking and shopping help make peoples lives easier and support Indias digital economy IANS https://dailyworld.in/business/nclat-gives-partial-relief-to-meta-removes-data-sharing-ban-in-whatsapp-privacy-policy-case-646699.html Tue, 04 Nov 2025 22:26:00 +0530 https://dailyworld.in/business/india-plans-rs-65-400-crore-push-to-build-its-own-fighter-jet-engines-by-2035-646456.html New Delhi Nov 3 India is gearing up to give its aerospace ambitions a big push with a massive investment of about Rs 65400 crore 744 billion to develop and produce fighter jet engines by 2035 The plan aims to make India selfreliant in one of the most critical areas of defence aircraft propulsion according to Times of Oman reportThe project marks a strong step towards reducing dependence on imports and building engines that can power the next generation of Indian fighter jetsFrom the advanced Tejas Mk2 to the stealthy AMCA and from upgraded fighters to unmanned aircraft India plans to build around 1100 engines in the next decadeS V Ramana Murthy Director of the Gas Turbine Research Establishment GTRE is leading the mission to build homegrown engines that can compete globallyHe said the focus is on creating a strong ecosystem that includes government research private industry and global partnershipsThe Indian Air Force IAF is also preparing for this transformation It aims to strengthen its fleet to 42 squadrons by 2035 with around 450 new fighter jets many of which could soon fly on engines made in IndiaThis will not only boost Indias defence capabilities but also its confidence in technological selfrelianceOne of the major projects in this roadmap is the Tejas Mk2 which follows the success of the existing Tejas aircraftTalks with the USbased General Electric for its F414 engine along with a technology transfer agreement are expected to help India build worldclass engines domesticallyIndias indigenous Kaveri engine programme which has faced delays in the past is now being revived with new energy Its upgraded versions could soon power unmanned combat aircraft an important part of the countrys future defence strategyInternational collaborations will also play a big role in this mission Global engine makers like Frances Safran Britains RollsRoyce and the USs GE are in discussions to codevelop a fifthgeneration engine for Indias Advanced Medium Combat Aircraft AMCA a project expected to produce its first prototype by 2028For the first time India is inviting private companies to participate in fighter jet development opening new opportunities for innovation and growth in the aerospace sectorHindustan Aeronautics Limited HAL will work alongside private and global players to share the workload and boost productionUnder Prime Minister Narendra Modis Atmanirbhar Bharat selfreliant India vision the government is actively encouraging global defence manufacturers to set up production facilities in IndiaThe move signals a shift from India being a buyer of defence technology to becoming a builder and partner in advanced manufacturingExperts say this massive engine development programme will not only strengthen Indias defence readiness but also help boost the economy by creating jobs encouraging exports and positioning India as a global player in the aerospace industry IANS https://dailyworld.in/business/india-plans-rs-65-400-crore-push-to-build-its-own-fighter-jet-engines-by-2035-646456.html Tue, 04 Nov 2025 00:28:00 +0530 https://dailyworld.in/business/hinduja-group-chairman-gopichand-hinduja-passes-away-in-london-hospital-646528.html New Delhi Nov 4 IANS Hinduja Group Chairman Gopichand P Hinduja passed away in a London hospital on Tuesday He was 85nbspKnown as GP in business circles he took over as Chairman of the Hinduja Group following the death of his elder brother Srichand in May 2023 He is survived by his wife Sunita sons Sanjay and Dheeraj and daughter RitanbspThe 2025 edition of the Sunday Times Rich List recently ranked Gopichand Hindujas family the richest in the UK with a net worth of 323 billion poundsGopichand Hinduja joined the family business in 1950 and is credited with transforming the company from an IndoMiddle East trading operation into a transnational conglomerate His other two brothers are Prakash Hinduja and Ashok HindujanbspA graduate from Bombay Jai Hind College Gopichand held honorary doctorate degrees from the University of Westminster and Richmond College according to the companys websitenbspThe Hinduja Group has businesses in eleven sectors including automotive banking and finance IT healthcare real estate power and media and entertainment Some of its wellknown brands include Ashok Leyland IndusInd Bank and NXTDIGITAL LimitedWhile Prakash Hinduja has been involved in managing the groups operations in Europe Ashok Hinduja the youngest brother oversees the groups interests in IndianbspThe Hinduja Group made a major decision to enter the Indian automobile sector with the purchase of heavy commercial vehicle manufacturer Ashok Leyland in 1987 which is now their flagship company in the Indian automobile sector This move was considered the first big NRI investment in India at the timeThe Hinduja family made headlines in 2021 for a feud that reached a London courtroom Srichand Hindujas daughter Vinoo and Shanu accused their three uncles of cutting them out of funding and decisionmaking At the time Srichand Hinduja known as SP was suffering from dementianbspResponding to their nieces allegations Gopichand Prakash and Ashok cited an agreement the four brothers made back in 2013 that everything belongs to everyone and nothing belongs to anyone https://dailyworld.in/business/hinduja-group-chairman-gopichand-hinduja-passes-away-in-london-hospital-646528.html Tue, 04 Nov 2025 18:59:00 +0530 https://dailyworld.in/business/india-to-become-worlds-3rd-largest-economy-soon-fm-sitharaman-646529.html New Delhi Nov 4 IANS Finance Minister Nirmala Sitharaman said on Tuesday that India will soon become the worlds thirdlargest economy as the country is making rapid progress and stands tall today because of its economic strengthnbspDelivering the diamond jubilee valedictory lecture at the Delhi School of Economics Sitharaman said We are at a time when India is moving fast on so many different parameters largely they are all economic Of course India and its population India and its location have strategic significance but India stands together today and stands tall and stands distinctly on its feet because of the economic strength of IndiaI am not saying we have become a developed country yet because Viksit Bharat 2047 lies ahead of us What is making us stand out is the rapid progress from being the 10thlargest economy in 2014 to the 5th soon to become the 4th and probably the 3rd before long the Finance Minister saidnbspShe highlighted that as many as 25 million people have been lifted out of multidimensional poverty emphasising the need to strengthen Indiacentric research and policy engagement and develop models suited to emerging economiesThe Finance Minister also said significant efforts are underway to reform customs regulationsnbspHighlighting the achievements in the banking sector she underlined the significant improvement in the balance sheets of public sector banks in marked contrast to the twin balance sheet problem that had been inherited from the erstwhile UPA governmentnbspSitharaman expressed confidence that the government would meet the ambitious fiscal deficit target of 44 per cent for the current financial year 202526Indias fiscal deficit for the first six months of the current financial year AprilSeptember stood at Rs 573 lakh crore which constitutes 365 per cent of the annual estimate in the budget a government data released on Friday showednbspThe figures show that the fiscal deficit is well under control which paves the way for stable growth of the economy https://dailyworld.in/business/india-to-become-worlds-3rd-largest-economy-soon-fm-sitharaman-646529.html Tue, 04 Nov 2025 19:04:00 +0530 https://dailyworld.in/business/sensex-nifty-open-flat-amid-mixed-global-cues-646580.html Mumbai Nov 4 Indian benchmark indices opened on a flat note on Tuesday amid mixed global cues and a lack of strong domestic triggers As of 925 am the Sensex was marginally down 18 points or 002 per cent at 83718 and the Nifty was down 14 points or 005 per cent at 25748The broadcap indices performed in line with benchmarks with the Nifty Midcap 100 down 008 per cent and the Nifty Smallcap 100 losing 012 per centTitan Company Cipla and Trent were among the major gainers in the Nifty Pack while losers included Tata Consumer Maruti Suzuki Apollo Hospitals and HindalcoAmong sectoral indices except for Nifty Media Nifty Oil and gas Consumer Durables and Realty all indices were in the red Nifty Auto was the major loser down 048 per cent while FMCG and IT lost 022 per cent and 021 per cent respectivelyAnalysts expect the FII strategy of selling in India on rallies and moving money to other markets to continue in the near termFIIs renewed selling is constraining the rally in the market This is an indication that they will continue to sell on rallies they addedHowever this is likely to be a shortterm challenge Mediumterm prospects look good with robust GDP growth and impressive sales data particularly from automobiles according to market watchersMeanwhile US Federal Reserve officials on Monday continued pressing competing views on the economy a debate set to intensify ahead of the Feds December policy meeting and in the absence of key data including from the Bureau of Labor Statistics due to the federal government shutdownThe US markets ended in the green zone overnight as Nasdaq added 046 per cent the SampP 500 moved up 017 per cent and the Dow lost 048 per centMost of the Asian markets were trading in the red during the morning session While Chinas Shanghai index slipped 021 per cent and Shenzhen lost 129 per cent Japans Nikkei declined 01 per cent while Hong Kongs Hang Seng Index added 028 per cent South Koreas Kospi declined 159 per centForeign institutional investors FIIs sold equities worth Rs 1883 crore on Monday while domestic institutional investors DIIs were net buyers of equities for the seventh straight session purchasing shares worth Rs 3516 croreAnalysts place immediate resistance at 25850 followed by 25900 and 26000 On the downside support levels are identified at 25600 and 25650 IANS https://dailyworld.in/business/sensex-nifty-open-flat-amid-mixed-global-cues-646580.html Tue, 04 Nov 2025 20:08:00 +0530 https://dailyworld.in/business/india-sends-1st-consignment-of-fortified-rice-kernel-from-chhattisgarh-to-costa-rica-646592.html New Delhi Nov 4 India has sent the first export consignment of 12 metric tonnes of Fortified Rice Kernel FRK from Chhattisgarh to Costa Rica said the Ministry of Commerce and Industry on Tuesday The initiative led the by Agricultural and Processed Food Products Export Development Authority APEDA underscores Indias technological capability in food fortification and its commitment to global food security and nutrition improvementThe first consignment of 12 MT of Fortified Rice Kernel from Chhattisgarh has been exported to Costa Rica In continuation of PMNarendra Modi jis efforts to fight malnutrition this effort at the global level not only strengthens our foreign trade but also our nutrition mission Commerce Minister Piyush Goyal shared in a post on social media platform XIt also provides our farmers millers and exporters with newer markets better price realisation and greater promotion for valueadded agri exports he addedChhattisgarh has made continuous efforts to promote the export of rice and fortified rice products enabling the states farmers millers and exporters to gain recognition in international marketsThe successful export of FRK to Costa Rica highlights Chhattisgarhs growing role in the global supply chain for nutritionenriched food products the Ministry saidIt also positions India as a reliable supplier of nutritious and highquality food products to global marketsThe export of fortified rice from India not only strengthens the nations agriexport portfolio but also reaffirms its commitment to addressing malnutrition through sciencebased and globally recognised food solutions said Abhishek Dev Chairman APEDA while congratulating the exporters and stakeholders involved in achieving the milestoneFRK is produced by blending rice flour with micronutrients such as iron folic acid and vitamin B12These nutrients are extruded and shaped to resemble rice grains which are then blended with regular rice at a predetermined ratio to enhance the nutritional value of the staple IANS https://dailyworld.in/business/india-sends-1st-consignment-of-fortified-rice-kernel-from-chhattisgarh-to-costa-rica-646592.html Tue, 04 Nov 2025 20:20:00 +0530 https://dailyworld.in/business/indian-employees-report-lowest-level-of-pay-unfairness-worldwide-646609.html New Delhi Nov 4 The employee perceptions of fair compensation are improving worldwide as the percentage of workers who feel they are unfairly paid has decreased from 31 per cent to 27 per cent year over year a report said on Tuesday India leads in pay fairness sentiment among the 34 markets surveyed with only 11 per cent of workers reporting dissatisfaction with their pay the report from human capital management company ADP saidThe report said there are significant disparities among markets with South Korea and Sweden reporting the highest levels of pay unfairness sentiment at 45 per cent and 39 per cent respectivelyIt also noted significant gender pay gaps in numerous countries with over 30 per cent of women in 15 out of 34 markets indicating unfair pay compared to only five markets for menHowever India was reported among the few markets where a larger proportion of men 12 per cent than women 9 per cent perceive their pay as unfairPay fairness dissatisfaction in India also decreases with age from 13 per cent among workers aged 1826 to just 5 per cent among those aged 55 and above contrary to the global trendFair pay is more than a compensation conversation it is a trust conversation When employees believe they are paid fairly they are more engaged motivated and loyal said Rahul Goyal Managing Director ADP India and Southeast AsiaIndias leading position in pay fairness sentiment indicates progress in equitable pay practices but employers need to ensure fairness extends beyond salary to include opportunities growth and recognition to foster longterm employee engagement the report saidEarlier in October global payroll and compliance platform Deel said that the median salaries for men and women in India are nearly equal ranging from 13000 to 23000 reflecting growing pay equity and the adoption of datadriven compensation models IANS https://dailyworld.in/business/indian-employees-report-lowest-level-of-pay-unfairness-worldwide-646609.html Tue, 04 Nov 2025 20:33:00 +0530 https://dailyworld.in/business/gst-rate-cuts-offset-us-tariff-impacts-to-drive-manufacturing-growth-646619.html New Delhi Nov 4 GST rate cuts have led to retail price reductions and increased household spending which have offset the tariffrelated impact on Indias exports a report said on Tuesday Overall manufacturing output continued to rise with the fall in new export orders fully offset by a rise in domestic orders A spurt in input purchases suggests that manufacturing could remain strong in November too the report from HSBC Global Investment Research notedBased on pickup in agriculture manufacturing construction growth for Q3 CY25 is tracking 7274 per cent the firm saidThe overall exports remained steady in spite of a dip in exports to United States due to tariffrelated concerns the report saidThe research house however maintained that growth may see some softness in the second half of the current fiscal year due to fiscal consolidation pressuresGST rates were reduced for around 375 items on September 22 the report said adding that government tracking indicates that companies lowered prices by more than what was warranted by GST rate cuts for about half of the items monitoredPranjul Bhandari Chief India EconomistStrategist ASEAN Economist said that increased demand for durable goods a significant rise in vehicle sales and heightened ecommerce activity is notable Further bank credit growth rose for industries and services including electronic manufacturing and retail trade she mentionedBhandari said that in spite of exports to the United States declining 12 per cent yearonyear YoY in September following a 25 per cent increase in the first half of the year the overall exports remained steadyThe slump in exports to US was driven by weakness in jewellery crustaceans and textiles the report noted Meanwhile the overall exports remained steady driven by stronger shipments to nonUS markets strong USexports in exempted categories like electronics and petroleum and continued strength in hightech exports such as services it saidThe firm said that its growth data indicators show that activity picked up further in September led by a pickup in agriculture manufacturing construction and financial services it noted IANS https://dailyworld.in/business/gst-rate-cuts-offset-us-tariff-impacts-to-drive-manufacturing-growth-646619.html Tue, 04 Nov 2025 20:44:00 +0530 https://dailyworld.in/business/mobikwiks-q2-loss-widens-massive-694-pc-revenue-falls-7-pc-646626.html Mumbai Nov 4 Fintech company MobiKwik on Tuesday reported a 694 per cent yearonyear YoY increase in its consolidated net loss for the second quarter Q2 of FY26 mainly due to a onetime fraudrelated charge The companys net loss surged to Rs 286 crore compared to Rs 36 crore in the same quarter last financial year Q2 FY25 according to its stock exchange filingHowever the loss narrowed 317 per cent sequentially from Rs 419 crore in the June quarter Q1 FY26The company booked an exceptional loss of Rs 118 crore during the quarter after uncovering a fraud involving some registered merchants and usersThese individuals allegedly exploited a technical bug in MobiKwiks platform to make unauthorised settlements amounting to Rs 404 croreMobiKwik said it has already recovered Rs 219 crore while Rs 66 crore is secured through court orders and merchant affidavitsThe remaining Rs 118 crore has been fully provided for as an exceptional item in this quarterThe company also filed an FIR in September and appointed a reputed advisory firm to conduct an independent investigation into the incidentThe company clarified that the provision for the fraud impacted profitability but did not affect revenue as it was recorded below the operating levelMobiKwiks revenue from operations fell 7 per cent YoY to Rs 2702 crore in Q2 compared to Rs 2906 crore a year agoRevenue also dipped slightly from Rs 2713 crore in the previous quarter as per its regulatory filingAt the operating level the company reported an EBITDA loss of Rs 64 crore compared to an EBITDA profit of Rs 68 crore in the same quarter last financial yearHowever this was a 79 per cent improvement over the Rs 312 crore EBITDA loss reported in the previous quarter helped by costcutting measures and lower payment processing expensesMobiKwiks total expenditure for the quarter stood at Rs 2857 crore almost unchanged from Rs 2869 crore in the yearago periodThe company earns revenue mainly from two business verticals payments through merchant and convenience fees and financial services through collection fees late payment charges and penal fees IANS https://dailyworld.in/business/mobikwiks-q2-loss-widens-massive-694-pc-revenue-falls-7-pc-646626.html Tue, 04 Nov 2025 20:54:00 +0530 https://dailyworld.in/business/8-in-10-indians-embrace-return-to-office-policy-flexibility-well-being-major-concern-report-646636.html Mumbai Nov 4 More than 8 in 10 Indians have expressed positive sentiment in returning to office RTO with flexibility wellbeing major concern according to a report on Tuesday The JLL Workplace Preference Barometer 2025 report showed that 82 per cent of Indian employees are subject to workfromoffice mandates with the majority 8 in 10 expressing positive sentiment toward RTO policiesThe leading sectors driving RTO adoption are technology companies BSFI and the education sectorIndian corporates have successfully cracked the code on workplace excellence with 83 per cent of employees describing their work environment as close to ideal a figure that significantly outpaces the AsiaPacific average of 64 per centThis is a pivotal moment for Indian organisations As hybrid work matures we see 83 per cent of employees expressing positive sentiment towards returntooffice policies underscoring the need for workplaces to be high on humancentred design Talent attraction is also being reshaped with six in 10 now citing flexibility as their top priority when choosing a new employer said JipuJose James Managing Director Project amp Development Service PDS India JLLAbout 60 per cent of employees cited flexibility as the primary factor when selecting new employers outperforming the APAC average of 54 per centImportantly the research also highlighted a growing wellbeing challenge with 54 per cent of employees experiencing moderate to elevated levels of burnoutThe statistic represents millions of workers whose productivity engagement and loyalty are compromised by unsustainable work pressures and inadequate support systemsThese interconnected challenges burnout affecting more than half the workforce and flexibility driving 60 per cent of employment decisions create a perfect storm that threatens organisational performance and talent retention simultaneouslyEmployers that wish to attract and retain top performers must move beyond simply mandating office attendance Instead they should focus on creating workplaces that employees actively want to be part of offering flexibility that genuinely improves quality of life addressing burnout through sustainable work practices and investing in inclusive futurefocused skills development said Kamya Miglani Head of Work Dynamics Research Asia Pacific JLL IANS https://dailyworld.in/business/8-in-10-indians-embrace-return-to-office-policy-flexibility-well-being-major-concern-report-646636.html Tue, 04 Nov 2025 21:06:00 +0530 https://dailyworld.in/business/gold-continues-decline-amid-dollars-surge-fading-fed-rate-cut-hopes-646639.html New Delhi Nov 4 The price of gold futures declined on Tuesday as investors booked profits tracking gains from a stronger US dollar and lowered expectations for additional Federal Reserve rate cuts this year The price of 10 grams of 24carat gold was Rs 119916 as of 1230 pm according to data published by the India Bullion and Jewellers Association IBJADecember gold futures on the Multi Commodity Exchange MCX fell by Rs 836 or 069 per cent to Rs 120573 per 10 grams as the dollar index surged by 008 per cent to 9995Analysts noted a strong dollar reduced USChina trade tensions and decreased likelihood of another US rate cut as factors diminishing bullions attractivenessGold hovered around 4000 mark as the dollar remained resilient at over threemonth highs Fed officials continued pressing competing views on the economy a debate set to intensify ahead of the Feds December policy meeting and in the absence of key data including from the Bureau of Labor Statistics due to the federal government shutdown said Manav Modi AnalystPrecious Metal Research Motilal Oswal Financial Services LtdMeanwhile China ended a longstanding tax exemption policy for some gold retailers potentially setting back a gold buying spree in the worlds biggest consumer marketCentral banks globally ramped up gold purchases in Q3 CY25 up 28 per cent on a quarterly basis according to the World Gold Councils WGC latest dataGold prices began November on a positive note supported by a weaker rupee and Comex gold holding above 4010 With the ongoing US government shutdown limiting key economic data releases investors are keen on manufacturing and nonmanufacturing PMI readings this week said Jateen Trivedi VP Research Analyst Commodity and Currency LKP SecuritiesAnalysts noted that developments in USChina and USIndia trade talks are expected to keep gold prices highly volatile within a range of Rs 118000 to Rs 124000 IANS https://dailyworld.in/business/gold-continues-decline-amid-dollars-surge-fading-fed-rate-cut-hopes-646639.html Tue, 04 Nov 2025 21:08:00 +0530 https://dailyworld.in/business/gold-continues-to-decline-amid-dollars-surge-fading-fed-rate-cut-hopes-646640.html New Delhi Nov 4 The price of gold futures declined on Tuesday as investors booked profits tracking gains from a stronger US dollar and lowered expectations for additional Federal Reserve rate cuts this year The price of 10 grams of 24carat gold was Rs 119916 as of 1230 pm according to data published by the India Bullion and Jewellers Association IBJADecember gold futures on the Multi Commodity Exchange MCX fell by Rs 836 or 069 per cent to Rs 120573 per 10 grams as the dollar index surged by 008 per cent to 9995Analysts noted a strong dollar reduced USChina trade tensions and decreased likelihood of another US rate cut as factors diminishing bullions attractivenessGold hovered around 4000 mark as the dollar remained resilient at over threemonth highs Fed officials continued pressing competing views on the economy a debate set to intensify ahead of the Feds December policy meeting and in the absence of key data including from the Bureau of Labor Statistics due to the federal government shutdown said Manav Modi AnalystPrecious Metal Research Motilal Oswal Financial Services LtdMeanwhile China ended a longstanding tax exemption policy for some gold retailers potentially setting back a gold buying spree in the worlds biggest consumer marketCentral banks globally ramped up gold purchases in Q3 CY25 up 28 per cent on a quarterly basis according to the World Gold Councils WGC latest dataGold prices began November on a positive note supported by a weaker rupee and Comex gold holding above 4010 With the ongoing US government shutdown limiting key economic data releases investors are keen on manufacturing and nonmanufacturing PMI readings this week said Jateen Trivedi VP Research Analyst Commodity and Currency LKP SecuritiesAnalysts noted that developments in USChina and USIndia trade talks are expected to keep gold prices highly volatile within a range of Rs 118000 to Rs 124000 IANS https://dailyworld.in/business/gold-continues-to-decline-amid-dollars-surge-fading-fed-rate-cut-hopes-646640.html Tue, 04 Nov 2025 21:09:00 +0530 https://dailyworld.in/business/air-india-to-send-relief-flight-to-ferry-passengers-stuck-in-mongolia-646642.html New Delhi Nov 4 Air India on Tuesday said it will operate a relief flight to ferry the passengers of San FranciscoDelhi flight which was diverted to Mongolia due to a suspected technical issue Air India flight AI174 operating from San Francisco to Delhi via Kolkata on November 2 made a precautionary landing at Ulaanbaatar Mongolia after the flight crew suspected a technical issue en routeAir India will be operating a relief flight to ferry the passengers of flight AI174 San FranciscoDelhi of 02 November which was diverted to Ulaanbaatar on Monday The ferry flight AI183 is scheduled to depart Delhi this afternoon and return with the affected passengers on Wednesday morning the airline said in a latest statementThe airline further said that along with local authorities and the Indian Embassy in Mongolia it has been looking after the passengers and crew including providing them hotel accommodationGuests have been kept informed about the arrangements being made to fly them to Delhi At Air India the safety and wellbeing of our passengers and crew remain top priority said an Air India spokespersonThe airline had said in an earlier statement that the aircraft landed safely at Ulaanbaatar and was undergoing the necessary checksIn the meantime Air India has been granted a temporary extension of flight duty time for twopilot Boeing 787 Dreamliner planes flying on European routes which have become longer due to the closure of Pakistani airspace the Directorate General of Civil Aviation DGCA said last weekThe extension was based on specific operational reasons linked to planes on European routes having to undertake longer flight paths following the shutdown of Pakistans airspace according to the civil aviation regulatorFor twopilot Boeing 787 operations the Flight Duty Time Limitation FDTL has been extended to 10 hours and 30 minutes from 10 hours and the Flight Duty Period FDP increased to 14 hours from 13 hours IANS https://dailyworld.in/business/air-india-to-send-relief-flight-to-ferry-passengers-stuck-in-mongolia-646642.html Tue, 04 Nov 2025 21:11:00 +0530 https://dailyworld.in/business/sbi-q2-results-net-profit-rises-64-pc-asset-quality-improves-further-646648.html Mumbai Nov 4 Indias largest lender State Bank of India SBI on Tuesday reported a 64 per cent yearonyear YoY increase in its consolidated net profit to Rs 2150449 crore for the second quarter Q2 of FY26 The bank had reported a profit of Rs 2021962 crore in the same period last financial year Q2 FY25 according to its stock exchange filingOn a standalone basis SBIs net profit rose 10 per cent YoY to Rs 2015967 crore compared to Rs 1833144 crore in Q2 FY25 driven by steady loan growth and improved asset qualityThe banks net interest income NII the difference between interest earned and interest paid grew 328 per cent YoY to Rs 42984 crore from Rs 41620 crore in the same quarter last yearHowever its domestic net interest margin NIM declined to 309 per cent down 18 basis points from 327 per cent a year ago as per its regulatory filingSBIs operating profit for the quarter stood at Rs 31904 crore up 891 per cent YoY from Rs 29294 crore in Q2 FY25The bank continued to see healthy loan growth with total advances rising 1273 per cent YoY while domestic advances increased 1232 per centWithin this retail advances grew 1509 per cent supported by strong growth in SME loans up 1878 per cent agriculture loans up 1423 per cent and personal loans up 1409 per centTotal deposits increased 927 per cent YoY and CASA deposits current account and savings account grew 806 per cent The CASA ratio stood at 3963 per cent as of SeptemberOn the asset quality front SBI showed further improvement The gross nonperforming assets NPA ratio declined 40 basis points YoY to 173 per cent while the net NPA ratio improved to 042 per cent down 11 basis points from the yearago periodThe banks provision coverage ratio PCR also improved by 13 basis points to 7579 per cent IANS https://dailyworld.in/business/sbi-q2-results-net-profit-rises-64-pc-asset-quality-improves-further-646648.html Tue, 04 Nov 2025 21:16:00 +0530 https://dailyworld.in/business/hydrogen-may-replace-natural-gas-in-india-in-5-to-10-years-top-official-646649.html New Delhi Nov 4 With hydrogen prices declining faster than anticipated India could see hydrogen become a viable alternative to natural gas within the next five to ten years making this route central to our decarbonisation and global competitiveness goals a top Government official said on Tuesday Addressing the CII Steel Summit 2025 here Union Steel Secretary Sandeep Poundrik said The DRI Direct Reduced Iron plus Hydrogen route offers a promising pathway for green steel productionHe highlighted that there are significant opportunities for investments in the steel industry driven by growing needs from sectors such as defence space automotive and power all of which are expanding rapidly and increasing demand for highgrade steel productsPoundrik said that with consistent growth in consumption and capacity along with rising opportunities from specialty steel and green steel India is on its way to achieving the target of 500 million tonnes by 2047Aligned with the vision of Viksit Bharat our target is to reach 500 million tonnes steelmaking capacity by 2047 At the current pace we would be adding around 100 million tonnes every five to seven years positioning India to not only meet domestic demand but also emerge as a global leader in sustainable steel production he saidThe Steel Secretary pointed out that there is a misconception that Indias steel industry is driven only by a few large producers In fact nearly 47 per cent of the steel in the country is produced by around 2200 medium and small enterprises These players form the backbone of Indias distributed and resilient steel ecosystem he notedThere is a strong need for India to achieve selfreliance in the steel sector given its strategic significance The Ministry of Steel is working closely with the Ministry of Coal to increase the share of domestic coking coal in steelmaking ensuring greater selfreliance and security in raw material supply The government is also taking proactive measures to ensure that cheap and substandard steel does not flood the Indian market he addedHe underlined that the government was creating a level playing field through Quality Control Orders QCOs to ensure that both domestic and foreign producers meet the same quality benchmarksTata Steel Ltd Executive Director and CII National Committee on Steel CoChairman Koushik Chatterjee highlighted that steel forms the backbone of Indias industrial transformation and national resilience As the foundation for construction transport energy and manufacturing the sector will be pivotal in shaping worldclass infrastructure modern cities and sustainable growthEmphasising Indias demographic advantage and the structural reforms like GST 20 fueling new consumption opportunities JSW Steel Ltd Joint Managing Director amp CEO and CII National Committee on Steel CoChairman Jayant Acharya noted that rapid urbanisation a growing middle class and rising discretionary spending are creating strong demand prospects for the steel industry IANS https://dailyworld.in/business/hydrogen-may-replace-natural-gas-in-india-in-5-to-10-years-top-official-646649.html Tue, 04 Nov 2025 21:18:00 +0530 https://dailyworld.in/business/andhra-cm-naidu-discusses-partnership-with-uk-universities-646651.html Amaravati Nov 4 Andhra Pradesh Chief Minister N Chandrababu Naidu met Indian High Commissioner to the UK Vikram Doraiswami and discussed various issues including partnership with UK universities The Chief Minister who is on a personal visit to London posted on X that he discussed with the High Commissioner the strengthening of trade relations education collaboration innovation entrepreneurship and diaspora engagement between Andhra Pradesh and the UKAccording to an official statement here the Chief Minister discussed the issue of various universities in the UK forming partnerships with Andhra PradeshIssues like UK universities setting up their centres in Andhra Pradesh and joint ventures with the support of the Centre were also discussedThe Chief Minister expressed keen interest in the partnership between UK universities and educational institutions in Andhra PradeshThe possibility of partnership in the areas of life sciences biogenetics mineral extraction and metals came up for discussionCM Naidu told the High Commissioner that the state was looking for cooperation in areas like Artificial Intelligence semiconductor space technology core engineering and Marine Industry 40Student exchange was another issue which was discussed during the meetingEarlier at the CII Roundtable CM Naidu interacted with leaders from diverse sectors from construction to educationWe discussed emerging opportunities in Andhra Pradesh and potential areas of collaboration I also extended a warm invitation to them to join us at the CII Partnership Summit in Visakhapatnam on November 1415 to further explore collaboration opportunities in our State the CM postedHe had a series of meetings with industry leaders during which he invited them to the Partnership SummitHad a fruitful meeting in London with a delegation from Samko Holdings led by Mr Sampathkumar Mallaya Chairman and Mr Sailesh Hiranandani Chairman SRAM amp MRAM Group We explored collaboration on setting up semiconductor and advancedpackaging facilities and developing Battery Energy Storage Systems BESS to enhance reliable and green energy in Andhra Pradesh he said IANS https://dailyworld.in/business/andhra-cm-naidu-discusses-partnership-with-uk-universities-646651.html Tue, 04 Nov 2025 21:20:00 +0530 https://dailyworld.in/business/sbi-q2-results-net-profit-rises-64-pc-asset-quality-improves-further-646652.html Mumbai Nov 4 Indias largest lender State Bank of India SBI on Tuesday reported a 64 per cent yearonyear YoY increase in its consolidated net profit to Rs 2150449 crore for the second quarter Q2 of FY26 The bank had reported a profit of Rs 2021962 crore in the same period last financial year Q2 FY25 according to its stock exchange filingOn a standalone basis SBIs net profit rose 10 per cent YoY to Rs 2015967 crore compared to Rs 1833144 crore in Q2 FY25 driven by steady loan growth and improved asset qualityThe banks net interest income NII the difference between interest earned and interest paid grew 328 per cent YoY to Rs 42984 crore from Rs 41620 crore in the same quarter last yearHowever its domestic net interest margin NIM declined to 309 per cent down 18 basis points from 327 per cent a year ago as per its regulatory filingSBIs operating profit for the quarter stood at Rs 31904 crore up 891 per cent YoY from Rs 29294 crore in Q2 FY25The bank continued to see healthy loan growth with total advances rising 1273 per cent YoY while domestic advances increased 1232 per centWithin this retail advances grew 1509 per cent supported by strong growth in SME loans up 1878 per cent agriculture loans up 1423 per cent and personal loans up 1409 per centTotal deposits increased 927 per cent YoY and CASA deposits current account and savings account grew 806 per cent The CASA ratio stood at 3963 per cent as of SeptemberOn the asset quality front SBI showed further improvement The gross nonperforming assets NPA ratio declined 40 basis points YoY to 173 per cent while the net NPA ratio improved to 042 per cent down 11 basis points from the yearago periodThe banks provision coverage ratio PCR also improved by 13 basis points to 7579 per cent IANS https://dailyworld.in/business/sbi-q2-results-net-profit-rises-64-pc-asset-quality-improves-further-646652.html Tue, 04 Nov 2025 21:21:00 +0530 https://dailyworld.in/business/synergy-between-education-innovation-skilling-key-to-agricultural-progress-govt-646653.html New Delhi Nov 4 Strengthening the synergy between education innovation and skilling is crucial to Indias agricultural progress said the government on Tuesday Agriculture provides the primary livelihood for nearly half of Indias population and contributes about 18 per cent of GDPTo raise productivity reduce costs and achieve national goals building human capacity is vital This can be achieved via higher education research and handson training the government said while also calling these key pillars of the sectorThese pillars form the institutional and scientific base essential for sustaining the targeted 5 per cent agricultural growth rate and achieving the national vision of Viksit Krishi aur Samruddh Kisan Developed Agriculture and Prosperous Farmer the core philosophy of Viksit BharatIndias agricultural education and training system today reflects a wellintegrated approach linking education research technology and fieldlevel skill development the government said in an official statementRecognising that modern farming requirements the government has also prioritised capacity building to help farmers adapt to technological innovations climatic and market transformationsProgrammes such as the Skill Training of Rural Youth STRY SubMission on Agricultural Mechanization SMAM Pradhan Mantri Kaushal Vikas Yojana PMKVY and initiatives through Krishi Vigyan Kendras KVKs and Agricultural Technology Management Agency ATMA are equipping farmers with practical knowledge and vocational expertise for sustainable agriculture practicesThe continuous emphasis on quality education accreditation reforms and farmercentric training is helping bridge the gap between scientific research and practical application the government saidIn addition the inclusion of technologies like the Internet of Things IoT Artificial Intelligence AI and precision farming tools is driving a significant shift toward modern and databased agricultureThrough initiatives like the Agriculture Technology Management Agency ATMA Skill Training of Rural Youth STRY and the SubMission on Agricultural Mechanization SMAM farmers and rural youth are being equipped with essential technical and entrepreneurial skills fostering employment and selfreliance in villagesTogether these efforts are contributing to higher productivity better incomes and sustainable use of resources As India aims for selfreliance in food production and a resilient rural economy strengthening this synergy between education innovation and skilling will remain central to the nations agricultural progress the government said IANS https://dailyworld.in/business/synergy-between-education-innovation-skilling-key-to-agricultural-progress-govt-646653.html Tue, 04 Nov 2025 21:22:00 +0530 https://dailyworld.in/business/indias-solar-capacity-to-touch-216-gw-in-fy28-report-646401.html New Delhi Nov 3 India is expected to have around 216 GW of solar capacity generating 305 billion units by FY28 driven by strong responses to applications under the Production Linked Incentive scheme a report said on Monday The PLI scheme is enabling rapid capacity expansion while efficiency gains where 17002200 panels at 500 watts peak are typically deployed for every 1 MW of solar power are reinforcing scale advantages in project execution said the report from CareEdge Advisory a subsidiary of ratings agency CareEdge RatingsCareEdge Advisory noted Indias installed solar base surged to 1273 GW as of September 2025 up from 39 GW in FY15 and contributed about 257 per cent of total installed capacityIndias exports of solar photovoltaic PV products have surged by more than 10 times between FY19 and FY25 primarily to the US the report saidGovernment initiatives like PLI Basic Customs Duty BCD and Approved List of Models and Manufacturers ALMM have helped expand domestic solar module capacity to 100 GW placing the country in fourth position worldwideIndias module manufacturing capacity is expected to add additional capacity of 100 GWp by the end of FY28 nearly three to four times the average annual module demand of 5060 GWp over the next three years the report saidDomestic cell manufacturing capacity is projected to reach 100 GWp during the same period with capex exceeding Rs 55000 crore driven by backward integration efforts the advisory notedCareEdge Advisory expects that by FY28 India will require an estimated 3647 crore solar panels at 500 Wp to achieve its targeted solar capacity of 215 to 220 GWThe advisory expects module production to increasingly rely on exports even as cell production is also likely to eclipse domestic demand in the medium term This indicates that in the coming years Indias module and cell output will exceed domestic requirements positioning exports as the key growth driver for the sectorThe advisory however flagged that the early stage of upstream integration continued reliance on Chinese supply chains and lower progress in renewable capacity augmentation due to systemic constraints remain mediumterm risks IANS https://dailyworld.in/business/indias-solar-capacity-to-touch-216-gw-in-fy28-report-646401.html Mon, 03 Nov 2025 19:19:00 +0530 https://dailyworld.in/business/india-clocks-record-deal-activity-worth-443-billion-in-q3-report-646404.html New Delhi Nov 3 Indias deal market showed strong growth momentum between July and September 2025 with 999 deals worth 443 billion a new report said on Monday This marked a 13 per cent increase in the number of deals and a sharp 64 per cent jump in value compared to the previous quarter according to PwC Indias latest Deals at a Glance reportIn the AprilJune quarter of 2025 there were 887 deals worth 27 billion The latest data indicates that Q3 2025 was the strongest quarter in the past six quarters showing renewed investor confidence in Indias economyMergers and acquisitions MampA led the deal activity with 518 transactions worth 284 billionThis represents an 80 per cent increase in value and a 26 per cent rise in volume from the previous quarterOn a yearonyear YoY basis MampA deal volumes grew 64 per cent while their total value increased 32 per cent supported by domestic consolidation and growing crossborder interestPrivate equity PE activity also remained robust with 481 deals worth 159 billion This marked a 41 per cent rise in disclosed value and a slight 1 per cent increase in volume compared to the previous quarterPE investments more than doubled in value compared to the same period last year showing a 121 per cent jump along with a 36 per cent rise in the number of dealsThis highlights investors continued interest in highgrowth and scalable business modelsPwC Indias Partner and Leader for Deals Mohit Chopra said the JulySeptember quarter witnessed a strong rebound in deal activity and valuationsThis growth was driven by renewed confidence in Indias domestic consolidation story expanding corporate balance sheets and a stable macroeconomic environment he saidChopra added that as sectors mature and capital availability improves both strategic and financial investors are seeking longterm value creation opportunitiesThe report also pointed to an impressive performance in Indias IPO market There were 159 new listings in Q3 2025 including 50 mainboard IPOs and 109 SME IPOsThis is a significant jump from 62 IPOs in Q2 2025 and 65 in Q1 2025 a 156 per cent sequential increase and the highest quarterly tally this year IANS https://dailyworld.in/business/india-clocks-record-deal-activity-worth-443-billion-in-q3-report-646404.html Mon, 03 Nov 2025 19:21:00 +0530 https://dailyworld.in/business/india-post-payments-bank-joins-epfo-to-provide-doorstep-digital-life-certificate-services-646409.html New Delhi Nov 3 India Post Payments Bank IPPB has signed a memorandum of understanding MoU with Employees Provident Fund Organisation EPFO to provide doorstep Digital Life Certificate DLC services to its pensioners under the Employees Pension Scheme 1995 an official statement said on Monday Under this collaboration IPPB a 100 per cent governmentowned entity under the Department of Posts will leverage its wide network of over 165 lakh post offices and more than 3 lakh postal service providers postmen and Gramin Dak SevaksThey are equipped with doorstep banking devices and digital process of face authentication technology and fingerprint biometric authentication to assist EPFO pensioners in submitting their Digital Life Certificates conveniently from their homes eliminating the need for them to visit bank branches or EPFO offices to submit traditional paperbased certificatesEPFO will bear the cost of issuing Digital Life Certificate entirely making the service free for their pensioners according to the Ministry of CommunicationsThis partnership with EPFO reinforces IPPBs mission to bring essential financial and citizen services to every doorstep in India With our technologyenabled postal network and trusted lastmile reach EPFO pensioners especially in rural and semiurban areas will now be able to complete their life certificate submission seamlessly with dignity and convenience said R Viswesvaran MD and CEO IPPBThe initiative aligns with the government of Indias Digital India and Ease of Living vision harnessing technology and postal infrastructure to ensure inclusive service delivery for senior citizens and pensioners he mentionedIndia Post Payments Bank introduced the doorstep service of Digital Life Certificate in 2020 for generating Jeevan Pramaan for pensioners using Aadhaarenabled biometric authentication to reduce the turnaround time for issuance of Jeevan PramaanOn completion of the certificate generation process confirmation SMS will be received by the pensioner in his mobile number and the certificate can be viewed online the next day IANS https://dailyworld.in/business/india-post-payments-bank-joins-epfo-to-provide-doorstep-digital-life-certificate-services-646409.html Mon, 03 Nov 2025 19:31:00 +0530 https://dailyworld.in/business/irf-lauds-govts-move-to-install-qr-code-on-road-projects-646410.html New Delhi Nov 3 The International Road Federation IRF on Monday lauded the Ministry of Road Transport and Highways for its initiative to install QR codes on major road projects The IRF called the initiative a significant step towards transparency participatory governance and monitoring of construction qualityThis forwardthinking measure marks a significant milestone in the nations journey towards creating a more transparent accountable and technologydriven infrastructure management system the organisation said in a letter to Union Minister of Road Transport and Highways Nitin GadkariQR codes will provide public access to data on road construction and maintenance enhance contractor accountability and improve durability and safety throughout the national road networkGadkari had announced that all national highway projects in India will soon feature QR codes displaying complete project details from contractors and consultants to fundingThe organisation along with the Intercontinental Consultants and Technocrats Pvt Ltd applauded the foresight in ensuring that contractors remain accountable for road maintenance for up to ten years which will go a long way in strengthening the culture of responsibility and excellence in the sectorBy linking infrastructure to open data India is taking a decisive stride toward responsible citizencentric administration a model that could inspire similar reforms across other public sectors it addedIn another major development to provide ease of commuting to users the National Highways Authority of India NHAI had in October announced the installation of project information signboards with Quick Response QR Codes along the National Highway stretchesThe move will provide relevant projectspecific information and emergency helpline numbers to National Highway commutersNHAI is projected to garner Rs 3500040000 crore in FY26 if the road assets identified by the authority are monetised promptly IANS https://dailyworld.in/business/irf-lauds-govts-move-to-install-qr-code-on-road-projects-646410.html Mon, 03 Nov 2025 19:32:00 +0530 https://dailyworld.in/business/bharti-airtels-q2-profit-surges-89-pc-to-rs-6-792-crore-646411.html Mumbai Nov 3 Telecom major Bharti Airtel on Monday reported an 89 per cent yearonyear YoY jump in consolidated net profit for the JulySeptember quarter of the current financial year Q2 FY26 The companys profit rose to Rs 67917 crore compared to Rs 35932 crore in the same quarter last financial year according to its stock exchange filingAirtels consolidated revenue from operations grew 257 per cent YoY to Rs 521454 crore up from Rs 414733 crore in Q2 FY25 driven by strong performance across its mobile and data segmentsWe delivered another quarter of solid performance achieving a consolidated revenue of Rs 52145 crore growing 54 per cent sequentially and underscoring the strength of our portfolio Gopal Vittal Vice Chairman and MD saidWe saw multiple deal wins across Connectivity IOT and security business he addedOur solid balance sheet is a reflection of disciplined capital allocation continued deleveraging and sustained operational excellence Vittal mentionedThe companys EBITDA earnings before interest tax depreciation and amortisation stood at Rs 29919 crore registering a 36 per cent YoY increaseThe EBITDA margin improved to 574 per cent reflecting better operational efficiency and higher revenue per userBharti Airtel said it continued to strengthen its position in the postpaid segment adding 095 million new customers during the quarter taking its total postpaid base to 275 millionThe number of smartphone data users also rose by 222 million over the past year representing an 84 per cent YoY growthThe companys average revenue per user ARPU a key performance indicator for telecom operators increased to Rs 256 in Q2 FY26 from Rs 233 in the same quarter last fiscalAirtels net debttoEBITDA ratio improved significantly to 163 times on an annualised basis compared with 250 times as of September 30 2024 reflecting a stronger balance sheet position IANS https://dailyworld.in/business/bharti-airtels-q2-profit-surges-89-pc-to-rs-6-792-crore-646411.html Mon, 03 Nov 2025 19:34:00 +0530 https://dailyworld.in/business/indias-smartphone-shipments-up-5-pc-in-july-sept-apple-breaks-into-top-5-646412.html New Delhi Nov 3 Indias smartphone market continued its recovery in the JulySeptember quarter of 2025 growing 5 per cent yearonyear YoY by volume and 18 per cent by value its highestever quarterly value a new report showed on Monday The growth was fueled by strong festive demand attractive discounts and rising interest in premium phones according to Counterpoint ResearchAnalysts said the markets focus is shifting from volume growth to value growth as more consumers upgrade to higherend smartphonesRetail inflation has eased and consumer confidence has improved while easy financing options and attractive tradein offers have encouraged more buyers to spend on premium devicesSenior Analyst Prachir Singh from Counterpoint Research said that better household liquidity and festive optimism supported strong sales during the quarterSofter interest rates and easy financing options further fueled upgradedriven demand encouraging brands to stock up early OEMs rolled out aggressive discounts and EMI offers on older models effectively attracting valueconscious buyers he saidThe premium smartphone segment which includes devices priced above Rs 30000 saw the fastest growth up 29 per cent YoY in shipmentsThis helped the overall market value grow 18 per cent YoY while the average selling price ASP rose 13 per centApple led the premium market with a 28 per cent value share driven by strong demand for its iPhone 16 and 15 seriesThe newly launched iPhone 17 series also received a strong response with early demand exceeding that of previous modelsSamsung followed with a 23 per cent value share supported by its Galaxy S and A series and record sales of its foldable phonesOn the shipment side vivo excluding iQOO emerged as the top smartphone brand in India with a 20 per cent market share powered by its extensive offline presence and successful Tseries modelsSamsung ranked second with a 13 per cent share while OPPO excluding OnePlus gained ground through a wider product range and stronger retail partnershipsIn a major milestone Apple entered Indias top five smartphone brands by volume for the first time making India the thirdlargest iPhone market in the worldThe iPhone 16 was the most shipped device in the country for the second quarter in a rowAnalysts noted that Apples growing retail presence easy financing options and strong brand appeal have made its phones more accessible to Indian consumers even in smaller cities IANS https://dailyworld.in/business/indias-smartphone-shipments-up-5-pc-in-july-sept-apple-breaks-into-top-5-646412.html Mon, 03 Nov 2025 19:35:00 +0530 https://dailyworld.in/business/at-92-pc-indias-ai-adoption-rate-highest-in-asia-pacific-report-646422.html New Delhi Nov 3 India has the highest AI adoption rate in Asia Pacific at 92 per cent according to a report showcasing the countrys dynamic digitally fluent workforce and strong appetite for innovation The report by Boston Consulting Group reveals how employees across nine markets in Asia Pacific are both optimistic and fearful about the rise of AI offering a nuanced snapshot of the regions workplace transformationIt showed that 92 per cent of employees in the country use AI regularly 20 points above the global average while Japan lags at just 51 per cent Optimism about AI was highest in China 70 per cent Malaysia 68 per cent and Indonesia 69 per centIndias AI adoption rate the highest in Asia Pacific signals not just enthusiasm but readiness for the next phase of transformation Whats unique about Indias journey is the confidence of its workforce and the strength of its leadership engagement with 58 per cent of frontline employees receiving clear guidance on AI use nearly double the regional average creating fertile ground for scaled responsible innovation said Nipun Kalra India Leader BCGThe report offers a clear view of how organisations can move from experimenting with AI to truly reimagining their operating models For India and the region the opportunity now is to design this transformation deliberately building governance skills and structures that turn AIs promise into measurable enterprise and economic value Kalra addedThe report noted that Asia leads in AI adoption with 78 per cent of APAC employees using the technology regularly compared with 72 per cent globallyAbout 70 per cent of frontline employees in APAC use AI weekly or more compared to just 51 per cent globallyAcross the Asia Pacific workers are embracing AI faster and with more enthusiasm than anywhere else in the world Yet this surge comes with rising anxiety about what it means for the future of workWhile 60 per cent of employees in APAC feel positive about AIs impact vs 52 per cent globally 52 per cent also fear job loss due to AI the report said IANS https://dailyworld.in/business/at-92-pc-indias-ai-adoption-rate-highest-in-asia-pacific-report-646422.html Mon, 03 Nov 2025 19:51:00 +0530 https://dailyworld.in/business/india-to-triple-incentives-for-rare-earth-magnet-manufacturing-646431.html New Delhi Nov 3 In a major push to build domestic capacity in the strategic rare earth sector India plans to almost triple the size of its incentive programme for rare earth magnet manufacturing to more than Rs 7000 crore The move comes as several nations including India step up efforts to establish a reliable supply chain for rare earth magnets key components used in electric vehicles wind turbines smartphones and defence systems amid Chinas growing export restrictions according to reportsChina currently processes nearly 90 per cent of the worlds rare earth output In April this year Beijing tightened export controls on critical minerals as its trade tensions with the US deepened disrupting supplies to automakers and clean energy industries across the globeIndias expanded productionlinked incentive PLI plan aims to attract private investment promote local manufacturing and reduce dependence on Chinese importsThe government is also exploring partnerships with resourcerich nations to ensure secure access to raw materials needed for magnet productionIndustry experts said the proposed boost in incentives reflects Indias broader strategy to strengthen its critical minerals ecosystem from exploration and mining to value addition and hightech manufacturingEarlier in the day the PHD Chamber of Commerce and Industry PHDCCI had urged the government to set up a dedicated Department of Critical Minerals and adopt an aggressive mineral diplomacy to safeguard India from global supplychain disruptionsThe chamber also called for interministerial coordination and strategic stockpiling of key minerals similar to the US oil reserve modelExperts have repeatedly highlighted that the global energy transition will rely heavily on critical mineralsElectric vehicles are estimated to be six times more mineralintensive than conventional cars while renewable energy technologies like solar and wind require up to three times more minerals than traditional sourcesBy scaling up its rare earth magnet production India aims not only to strengthen its manufacturing base but also to position itself as a key player in the global clean energy and electronics value chains according to reports IANS https://dailyworld.in/business/india-to-triple-incentives-for-rare-earth-magnet-manufacturing-646431.html Mon, 03 Nov 2025 21:13:00 +0530 https://dailyworld.in/business/air-india-san-francisco-delhi-flight-lands-in-mongolia-over-suspected-tech-issue-646433.html New Delhi Nov 3 Air India on Monday said that its flight from San Francisco to Delhi via Kolkata made a precautionary landing in Mongolia after the flight crew suspected a technical issue The airline said that the incident occurred when flight AI174 on November 2 operating from San Francisco to Delhi via Kolkata made a precautionary landing at Ulaanbaatar Mongolia after the flight crew suspected a technical issue en routeThe aircraft landed safely at Ulaanbaatar and is undergoing the necessary checks We are working closely with our partners to support all passengers while we make efforts to get everyone on their way to the destination at the earliest opportunity an Air India spokesperson saidAir India said it regrets the inconvenience caused to passengers due to the unforeseen situation At Air India the safety of passengers and crew remains a top priorityMeanwhile Air India has been granted a temporary extension of flight duty time for twopilot Boeing 787 Dreamliner planes flying on European routes which have become longer due to the closure of Pakistani airspace the Directorate General of Civil Aviation DGCA said last weekThe extension was based on specific operational reasons linked to planes on European routes having to undertake longer flight paths following the shutdown of Pakistans airspace according to the civil aviation regulatorFor twopilot Boeing 787 operations the Flight Duty Time Limitation FDTL has been extended to 10 hours and 30 minutes from 10 hours and the Flight Duty Period FDP increased to 14 hours from 13 hours The DGCA clarified that the extension of up to 30 minutes in flight time and up to one hour in FDP will apply only in cases where duty periods extend after departure and not during flight planning IANS https://dailyworld.in/business/air-india-san-francisco-delhi-flight-lands-in-mongolia-over-suspected-tech-issue-646433.html Mon, 03 Nov 2025 21:16:00 +0530 https://dailyworld.in/business/centre-releases-rs-444-crore-to-strengthen-rural-local-bodies-in-odisha-646438.html New Delhi Nov 3 The Union government has released Rs 44438 crore to strengthen rural local bodies in Odisha as part of the 15th Finance Commission grants during the financial year 202526 according to a statement issued by the Ministry of Panchayati Raj on Monday The release includes the second instalment of Untied Grants amounting to Rs 3425964 crore for 20 eligible District Panchayats Zilla Parishads 296 eligible Block Panchayats Panchayat Samitis and 6734 eligible Gram Panchayats in the state the statement said Additionally Rs 1017815 crore representing the withheld portion of the first instalment of Untied Grants for FY 202526 has been released to 20 eligible Zilla Parishads 233 eligible Panchayat Samitis and 649 eligible Gram Panchayats The Central government through the Ministry of Panchayati Raj and the Ministry of Jal Shakti Department of Drinking Water and Sanitation recommends the release of Fifteenth Finance Commission Grants to States for Panchayati Raj Institutions and Rural Local Bodies The Ministry of Finance subsequently releases these grants in two instalments each financial year Untied Grants may be utilised by panchayati raj institutions and rural local bodies to meet locationspecific needs under the 29 subjects listed in the Eleventh Schedule excluding salaries and establishment costs Tied grants can be used for the basic services of sanitation and maintenance of ODF open defecationfree status and this should include management and treatment of household waste and human excreta and faecal sludge management in particular These grants can also be used for the supply of drinking water rainwater harvesting and water recyclingMeanwhile the Ministry of Panchayati Raj has launched initiatives such as SabhaSaar an AIpowered tool for recording and summarising Gram Sabha proceedings SVAMITVA for digital land mapping and property rights eGramSwaraj for integrated online planning accounting and monitoring Besides Gram Manchitra has been rolled out for geospatial planning These platforms not only improve transparency and efficiency but also empower citizens to participate more actively in local governance IANS https://dailyworld.in/business/centre-releases-rs-444-crore-to-strengthen-rural-local-bodies-in-odisha-646438.html Mon, 03 Nov 2025 21:22:00 +0530 https://dailyworld.in/business/arvind-smartspaces-q2-profit-falls-65-pc-revenue-down-47-pc-646439.html Mumbai Nov 3 Realty developer Arvind Smartspaces Limited on Monday reported a sharp 65 per cent drop in its net profit to Rs 14 crore for the quarter ended September 30 Q2 FY26 compared with Rs 41 crore in the same quarter last fiscal Q2 FY25 The companys revenue also fell 47 per cent yearonyear YoY to Rs 1405 crore from Rs 2655 crore a year ago according to its stock exchange filingIts EBITDA declined 56 per cent to Rs 292 crore from Rs 664 crore in Q2 FY25 with margins narrowing to 207 per cent from 25 per cent a year earlierDuring the first half of FY26 Arvind Smartspaces recorded bookings worth Rs 607 crore slightly lower than Rs 666 crore in the same period last financial yearCollections for the halfyear stood at Rs 427 crore compared with Rs 497 crore in H1 FY25Revenue from operations came in at Rs 242 crore down from Rs 340 crore a year ago while adjusted EBITDA stood at Rs 555 crore versus Rs 91 crore previouslyThe companys profit after tax PAT for the first half was Rs 30 crore lower than Rs 47 crore last financial yearOn a sequential basis the companys performance improved in Q2 FY26 Quarterly bookings rose 147 per cent quarteronquarter to Rs 432 crore driven mainly by the successful launch of Arvind Everland at Mankol SanandThe project recorded strong sales of 954 units generating Rs 400 crore in bookings nearly 82 per cent of the launched inventoryCollections during the quarter improved 23 per cent sequentially to Rs 236 crore though they remained slightly lower than Rs 263 crore recorded a year earlierRevenue from operations grew 38 per cent quarteronquarter to Rs 140 crore but was still down from Rs 266 crore in Q2 FY25Adjusted EBITDA increased 27 per cent sequentially to Rs 31 crore while PAT rose 51 percent quarteronquarter to Rs 18 crore IANS https://dailyworld.in/business/arvind-smartspaces-q2-profit-falls-65-pc-revenue-down-47-pc-646439.html Mon, 03 Nov 2025 21:23:00 +0530 https://dailyworld.in/business/have-strong-urea-buffer-stock-to-supply-farmers-in-rabi-season-govt-646441.html New Delhi Nov 3 The overall stock of urea fertiliser in the country has increased from 4864 lakh metric tons on October 1 2025 to 6885 lakh metric tons by October 31 reflecting a growth of 2021 lakh metric tons which will ensure adequate supplies to farmers according to a statement issued by the Department of Fertilisers on Monday The months from July to October 2025 also recorded the highestever supplies of urea to states in terms of movement of rakes underlining the governments proactive efforts to ensure the timely supply of urea to farmers the statement saidThe enhanced availability has been ensured by bridging the gap between domestic production and consumption through imports Between April and October 2025 India imported 5862 lakh metric tons of agriculturalgrade urea compared to 2476 lakh metric tons during the same period in the previous year This rise in imports not only met the enhanced demand of urea during kharif 2025 but also helped to build adequate buffer stocks for the upcoming rabi season the statement explainedDomestic urea production has also shown improvement with production during October 2025 reaching 2688 lakh metric tons higher by 105 lakh metric tons compared to the same month last year The average monthly production between April and October remained a robust nearly 25 lakh metric tons Further imports of approx 175 lakh metric tons are already lined up for November and December and will be further boosted through timely interventions at the global level according to the statementThe Department of Fertilisers further stated that it has ensured adequate availability of fertilisers including urea across the country during the kharif 2025 season Through timely planning and close coordination with Indian Railways ports state governments and fertilizer companies the government ensured that farmers received the required quantities of urea without any shortage which is evident by the fact that against the projected requirement of 18539 lakh metric tonnes LMT as assessed by Department of Agriculture and Farmers Welfare the availability ensured was 23053 LMT which was far excess of the sales of 19320 LMTThis reflects sufficient allIndia availability of urea Evidently farmers have consumed more urea in kharif2025 to the tune of approximately 408 lakh metric tons as compared to kharif 2024 indicating better availability of urea to cater to a higher cropped area owing to a good monsoon the statement saidContinuous efforts are on track to enhance the domestic production capacities in the country Two urea plants at Namrup in Assam and Talcher in Odisha are under execution with 127 lakh metric tons capacity each per annum A number of proposals for enhancing the production of urea have been received and are under consideration These projects once approved will reduce Indias import dependency substantially and lead to atmanirbharta in the urea production according to the statementIn coordination with the Agriculture Department state Agriculture officers have also been continuously guided to improve distributional efficiency and also to take effective action against diversion smuggling hoarding and black marketing as well as excess use of Urea Many states have taken steps and started the implementation of innovative tools for better vigilance and usage of subsidised urea the statement added IANS https://dailyworld.in/business/have-strong-urea-buffer-stock-to-supply-farmers-in-rabi-season-govt-646441.html Mon, 03 Nov 2025 22:46:00 +0530 https://dailyworld.in/business/india-shows-power-of-sharing-knowledge-and-learning-together-industry-leader-646443.html Bengaluru Nov 3 Today is a great example of how we can come together to discuss share knowledge and learn from one another all of which are essential for the future Hanna Stjärne Executive Director of the Nobel Foundation said on Monday Speaking to IANS on the sideline of the Nobel Prize Dialogue at the Indian Institute of Science IISc here she said the enthusiasm and curiosity shown by Indian students and researchers reflected the countrys deep commitment to learning and collaborationWhen we organise meetings like this we bring many laureates onto the stage but theyre also here to engage and answer questions she saidIt becomes an exchange between students the public and the laureates a true opportunity to learn from one another Stjärne told IANSStjärne praised the success of the Bengaluru session saying There were so many questions today we could have continued the discussion for much longerIm really looking forward to hearing the questions that the audience in Mumbai will raise tomorrow she saidReflecting on the Bengaluru session she said the level of curiosity among participants was remarkableThere were so many questions today we could have continued the discussion for much longer Im really looking forward to hearing the questions that the audience in Mumbai will raise tomorrow Stjärne saidShe also appreciated the collaboration that made the event possible calling it an excellent partnership that worked out very wellThe Nobel Prize Dialogue titled The Future We Want was held from 1030 am to 100 pm at IISc Bengaluru and served as a platform to connect global scientific leaders with Indias young minds fostering discussions on innovation sustainability and the shared future of humanity IANS https://dailyworld.in/business/india-shows-power-of-sharing-knowledge-and-learning-together-industry-leader-646443.html Mon, 03 Nov 2025 22:48:00 +0530 https://dailyworld.in/business/ed-attaches-anil-ambani-groups-land-worth-rs-4-462-crore-in-navi-mumbai-646448.html New Delhi Nov 3 The Enforcement Directorate ED has provisionally attached over 132 acres of land worth Rs 446281 crore in Dhirubhai Ambani Knowledge City at Navi Mumbai in Maharashtra under the provisions of the Prevention of Money Laundering Act according to a statement issued by the investigative agency on Monday ED had earlier attached 42 properties worth over Rs 3083 crore in the bank fraud cases of Reliance Communications Ltd RCOM Reliance Commercial Finance Ltd and Reliance Home Finance LtdThe total attachment in these cases stands at over Rs 7545 crores ED is actively pursuing perpetrators of financial crime and is committed to restituting the proceeds of crime to their rightful claimants the statement saidED had initiated an investigation based on CBIs FIR under sections 120B 406 and 420 of the Indian Penal Code 1860 and section 132 read with section 131d of the Prevention of Corruption Act 1989 against RCOM Anil Ambani and othersRCOM and its group companies availed loans from domestic and foreign lenders from the period of 20102012 onwards of which a total amount of Rs 40185 crore is outstanding Five banks have declared the loan accounts of the Group as fraud the statement saidThe ED investigation has revealed that loans taken by one entity from one bank were utilised for repayment of loans taken by other entities from other banks transfer to related parties and investments in mutual funds which was in contravention of the terms and conditions of the sanction letter of the loans the statement explainedIn particular RCOM and its group companies diverted over Rs 13600 crore for evergreening of loans over Rs 12600 crore was diverted to connected parties and over Rs 1800 crore was invested in FDsMFs etc which was substantially liquidated for rerouting to group entities Huge misuse of bill discounting for the purpose of funnelling funds to connected parties has also been detected by ED Certain loans were siphoned off outside India through foreign outward remittances Further investigation is in progress the statement added IANS https://dailyworld.in/business/ed-attaches-anil-ambani-groups-land-worth-rs-4-462-crore-in-navi-mumbai-646448.html Mon, 03 Nov 2025 22:55:00 +0530 https://dailyworld.in/business/mehli-mistry-files-caveat-over-tata-trusts-ouster-646255.html Mumbai Nov 3 Mehli Mistry a former trustee of Tata Trusts whose term was not renewed last week has reportedly filed a caveat before the Maharashtra Charity Commissioner for his right to be heard before his ouster from Tata Trusts According to the rules Tata Trusts must implement board changes approved by the Commissioner within 90 days Mehli Mistry wants to contest his ouster before the Commissioner of philanthropic organisations pointing to the October 2024 resolution on life trusteeship at renewal according to multiple media reportsThe Tata Trusts board had in October rejected Mistrys renewal for life trusteeship with office holders Venu Srinivasan Noel Tata and Vijay Singh opposing his continuation Noel Tata leads the philanthropic trust with Vijay Singh and Venu Srinivasan as vice chairmen according to reportsMistrys challenge to ouster is based on a resolution from October 2024 that reportedly grants life terms on renewal to current trusteesThe Trustees recognise that they are all equally responsible charged with public duty and specifically tasked by Ratan N Tata To this end they resolve that on the expiry of tenure of any Trustee that Trustee will be reappointed by the concerned Trust without any limit being attached to the period of tenure of such reappointment and in accordance with law the resolution saidTata Trusts has been embroiled in an internal conflict over the nomination of a director to the Tata Sons board Analyst said that the rift at Tata Trusts would impact strategic decisions at Tata SonsTata Trusts the charitable arm that controls about 66 per cent of Tata Sons has been recently mired in internal disagreementsThe dispute reportedly involves board appointments and governance matters creating two factions one led by Noel Tata and another by four trustees close to Mehli Mistry who is associated with the Shapoorji Pallonji familyMeanwhile shares of Tata Group companies have declined by over Rs 7 lakh crore in market value or 21 per cent over the past year after the passing of the groups patriarch IANS https://dailyworld.in/business/mehli-mistry-files-caveat-over-tata-trusts-ouster-646255.html Mon, 03 Nov 2025 10:52:00 +0530 https://dailyworld.in/business/gift-nifty-achieves-record-monthly-turnover-of-10622-billion-in-october-646264.html Mumbai Nov 3 Multiasset exchange NSE International Exchange NSEIX on Monday informed that its international Nifty futures contract GIFT Nifty witnessed a record monthly turnover of 10622 billion in the month of October The October turnover of 211 million contracts exceeded the previous high of 10235 billion reached in May 2025 according to the exchangeThe milestone reflects the growing global interest and trust in the GIFT Nifty as a benchmark for the Indias growth story according to the exchange Since launching fullscale operations on July 3 2023 GIFT Nifty has recorded over 5277 million contracts and a total cumulative turnover of 240 trillion as of October 2025 the statement saidTrading turnover on NSEIX has been growing exponentially since the commencement of a fullscale operation of GIFT NiftyWe are glad to witness the success of GIFT Nifty and express our sincere gratitude to all the participants for their overwhelming support and making GIFT Nifty a successful contract according to the NSEThe exchange had earlier informed that GIFT Nifty achieved a record open interest OI on October 24 2025 GIFT Nifty saw an open interest of 410100 contracts worth 2123 billion or Rs 186226 croreNSEIX located at GIFT City was established on June 5 2017 and is recognised by the International Financial Services Centres Authority It claims a market share of over 997 per cent in GIFT IFSCNSEIX offers Indian single stock derivatives index derivatives currency derivatives depository receipts and global stocks to investors The exchange also provides a comprehensive range of primary market products including listings of equity shares SPACs REITs InvITs depository receipts debt securities and ESG debt securitiesIn October Union Finance Minister Nirmala Sitharaman unveiled foreign currency settlement system in GIFT City to boost international trade investment and ease of doing business IANS https://dailyworld.in/business/gift-nifty-achieves-record-monthly-turnover-of-10622-billion-in-october-646264.html Mon, 03 Nov 2025 11:33:00 +0530 https://dailyworld.in/business/indias-manufacturing-growth-picks-up-in-oct-due-to-robust-domestic-demand-pmi-data-646268.html New Delhi Nov 3 Indias manufacturing sector growth surged in the month of October fuelled by strong domestic demand GST 20 reforms productivity gains and increased technology investments a report said on Monday The HSBC India Manufacturing Purchasing Managers Index PMI rose to 592 in October from 577 in September according to data compiled by USbased financial intelligence provider SampP GlobalThe increase stemmed from quicker growth in new orders and factory output at the beginning of the third financial quarter driven by boost in advertising and recent GST reforms the report saidThe expansion rate matched levels seen in August which was one of the strongest in the last five years it indicatedA reading above 50 indicates economic expansion while one below 50 shows contraction in the manufacturing services or construction sectors A reading of exactly 50 signifies flat activityThe manufacturing PMI acceleration comes from robust enddemand fuelled expansions in output new orders and job creation said Pranjul Bhandari chief India economist at HSBCMeanwhile input prices moderated in October while average selling prices increased as some manufacturers passed on additional cost burdens to endconsumers Bhandari addedDespite input cost inflation easing to an eightmonth low output charge inflation remained at its highest level in 12 years for the second consecutive monthCompanies reported passing on higher freight and labour costs to customers while strong demand allowed them to maintain elevated pricesDomestic sales growth outpaced export orders which grew more slowly even with some improvement in overseas demand Employment creation continued for the twentieth straight month in October with hiring remaining moderate and largely consistent with Septembers levels it notedManufacturers remain optimistic about future business conditions crediting their optimism to GST reforms capacity expansion and stronger marketing efforts the report noted IANS https://dailyworld.in/business/indias-manufacturing-growth-picks-up-in-oct-due-to-robust-domestic-demand-pmi-data-646268.html Mon, 03 Nov 2025 12:20:00 +0530 https://dailyworld.in/business/nearly-50-pc-millennials-fear-jobs-being-replaced-by-ai-report-646283.html Mumbai Nov 3 Amid increasing adaptation to the growing influence of artificial intelligence AI at the workplace nearly 50 pc millennials in the country fear that their jobs will be replaced by AI in the next three to five years according to a report on Monday The report by Great Place To Work India offered an indepth look at how Indian employees are adapting to the growing influence of AI at workThe findings also highlight a positive shift across industries with employees showing greater readiness and trust in leveraging AI as a catalyst for productivity and innovationThe report revealed that 54 per cent of employees across India believe their organisations are currently at a pilot or intermediate stage of AI implementation This reflects the steady progress toward a more techempowered and efficient work environmentHowever it revealed that four in 10 employees feel that AI could replace their roles in the next three to five years This apprehension is not confined to a single demographic and is consistent irrespective of tenure at the current organisation or total career experienceAt least 40 per cent of the employees concerned about AI taking their employment also intend to quit their current company revealed the report highlighting a crucial and pressing issue for HR departments and senior leadershipAs organisations across industries advance in AI implementation leaders are devising highimpact AI strategies that enhance human capabilities Roadblocks that currently need attention are organisational resistance coupled with employee readiness said Balbir Singh CEO Great Place To Work IndiaFurther about 57 per cent of employees in companies that have not adopted AI yet noted being insecure as compared to 8 per cent at companies that are at advanced stages of AI adoptionThis positive shift highlights how structured adoption leadership support and inclusive communication can turn initial apprehension into genuine excitement about the future of workSingh urged employers to actively identify real use cases for AI within their organisation involve employees in AI initiatives and invest in reskilling programmes This is the only way to stay above the curve and get the internal mobility running successfully from within IANS https://dailyworld.in/business/nearly-50-pc-millennials-fear-jobs-being-replaced-by-ai-report-646283.html Mon, 03 Nov 2025 13:23:00 +0530 https://dailyworld.in/business/gold-prices-dip-as-safe-haven-demand-declines-646289.html Mumbai Nov 3 Spot gold prices slipped below the 4000 per ounce after a significant increase this year dipping 27 per cent from last week to 398443 an ounce data showed on Monday The price of 10 grams of 24carat gold was Rs 121113 during the day trade according to data published by the India Bullion and Jewellers Association IBJAAnalysts said the moderation in demand came as trade tensions between the US and China cooled and the dollar index jumped to its highest in three monthsAfter a sharp rally gold and silver lost some shine last weekFurther Beijings decision to end a longstanding tax rebate for certain retailers is expected to weaken demand in one of the worlds largest bullion markets according to multiple media reportsIn spite of the pullback gold remains over 50 per cent higher yeartodate driven by centralbank purchases and safehaven demand Silver prices have also corrected sharply after hitting festiveseason highs of around Rs 2 lakh per kilo during the Dhanteras periodThe price of one kilogram of silver was Rs 149660 according to data published by the India Bullion and Jewellers Association IBJAHowever many experts view this as a temporary phase with another rally likely in the near futureRising US bond yields above 4 per cent further weakened investor appetite for safehaven assets Fed Chair Jerome Powells comments that rate cuts in December arent guaranteed also dampened sentiment However consistent central bank purchases and lingering global economic uncertainties continue to offer underlying support to bullion prices according to Rahul Kalantri VP Commodities Mehta Equities LtdAnalysts said that gold has support at Rs 120870 to Rs 120480 while resistance is at the Rs 121890 to Rs 122300 zone Silver has support at Rs 147450 to 146750 while resistance is at Rs 149340 to 150280 zone IANS https://dailyworld.in/business/gold-prices-dip-as-safe-haven-demand-declines-646289.html Mon, 03 Nov 2025 13:57:00 +0530 https://dailyworld.in/business/jyotiraditya-scindia-flags-off-work-on-projects-worth-rs-635-crore-in-assam-646291.html Guwahati Nov 3 Union Minister for Communications and Development of North Eastern Region Jyotiraditya M Scindia inaugurated the North Eastern Science and Technology NEST Cluster at IIT Guwahati and laid the foundation stone for transformative development projects worth Rs 635 crore across Assam an official statement said on Monday The new projects aimed at catalysing growth and connectivity across Assam include infrastructure development of 65 new secondary school buildings at the cost of Rs 455 crore upgradation of ChayagaonUkium road with an investment of Rs 10269 crore and the construction of RCC Bridge at SilonijanDhansiri Par Ghat at a cost of Rs 2059 croreThe development of industrial estates at Ramphalbil Kokrajhar with an investment of Rs 1440 crore and at Lakhibazar Baksa at a cost of Rs 1840 crore were the other projects for which the foundation stones were laid by the ministerHighlighting the human impact of the projects Scindia said Every brick laid and every classroom built is a promise kept in the service of aspirationThe North Eastern Science and Technology NEST Cluster established with an investment of Rs 2298 crore will serve as the nerve centre of the Northeasts innovation ecosystem transforming local wisdom into global solutions It will focus on four verticals Grassroots Innovation Semiconductors and Artificial Intelligence BambooBased Technologies Biodegradable Plastics according to an official statementThe NEST cluster will complement DoNERs youthcentric programmes such as NESPARKS and Ashtalakshmi Darshan through which 3200 students from across India will visit the Northeast while 800 Northeastern students will undertake scientific exposure visits to ISROThe event was attended by senior officials from the Government of Assam representatives of educational institutions and members of the scientific and entrepreneurial communityThe minister said that Assam long the gateway to Indias eastern renaissance is now emerging as the innovation and connectivity hub of a Viksit PurvottarDuring his visit to the IIT Guwahati exhibition the minister interacted with students and researchers showcasing innovations in 6G communication biodegradable polymers bamboo tissue culture and lowfield MRI systems for accessible healthcareReviewing the biodegradable polymer project Scindia remarked If you get this going it will be the future commending the students spirit of scientific curiosity and sustainable innovationScindia underlined that under Prime Minister Narendra Modis leadership northeast has undergone a remarkable transformation from being landlocked to landlinked and futurereadyOver Rs 62 lakh crore has been invested in the region through the 10 per cent Gross Budgetary Support policy driving growth enterprise and empowerment He highlighted landmark projects such as the Bogibeel Bridge Bhupen Hazarika Setu Sela Tunnel and Jogighopa MultiModal Logistics Park which have redefined Assams connectivity landscapeHe added that the Act East Policy has opened new trade frontiers reducing travel time between Kolkata and Agartala from 31 hours to just 10 hours through new rail and road links to BangladeshThe minister also noted PM Modis recent projects worth Rs 6500 crore in Darrang and Rs 18530 crore across Assam reaffirming the Centres commitment to holistic growth spanning health education energy and industry IANS https://dailyworld.in/business/jyotiraditya-scindia-flags-off-work-on-projects-worth-rs-635-crore-in-assam-646291.html Mon, 03 Nov 2025 14:29:00 +0530 https://dailyworld.in/business/seouls-200-billion-investment-in-us-will-first-go-to-s-korean-firms-minister-646298.html Seoul Nov 3 Seouls envisioned 200 billion investment in the United States will first flow into South Korean companies operating in the country the industry minister said on Monday The 200 billion cash investment is not just money we are giving to the US Industry Minister Kim Jungkwan said during his meeting with chief executive officers CEOs of mediumsized enterprises referring to the details of Koreas investment commitment to the US under the tariff deal reached between the two countries last week The benefits will be structured to give priority to our companies entering the US marketKim explained investments will be made on projects agreed upon by both sides through a joint investment committee that will be chaired by US Commerce Secretary Howard Lutnick and a cooperation committee headed by himself reports Yonhap news agencyThe 200 billion investment will be made based on commercial rationality Simply put it will be directed to businesses capable of generating cash flow he saidOn Wednesday Seoul and Washington finalized an agreement on the details of Seouls 350 billion investment pledge made in exchange for the lowering of US tariffsUnder the final terms the investment will consist of 200 billion in cash installments and 150 billion allocated for bilateral shipbuilding cooperation with an annual cap set at 20 billionKim said the two countries have nearly completed a memorandum of understanding and a joint fact sheet on their recently finalized tariff dealUntil now Korean companies had to finance themselves to start a business in the US but they will have another option with the tariff deal he stressed calling on mediumsized firms to actively consider utilizing the envisioned KoreaUS investment fundRegarding US President Donald Trumps remarks that he was a very tough negotiator Kim said he considers it an honor for my family noting he has been called tough by the toughest person in the worldTrump made the remarks during his special address for the AsiaPacific Economic Cooperation APEC CEO Summit held in the southeastern city of Gyeongju last weekMeanwhile Vice Industry Minister Moon Shinhak said in a separate press briefing that the government is working to assess the potential impact of Seouls massive investment plan in the USKorean conglomerates have been executing their mother factory strategy well but we will have to see if they can maintain and develop the strategy Moon told reporters referring to concerns Seouls investments in the US may weaken the companies domestic investmentsMother factory strategy refers to a tactic where businesses operate a main factory for the technological development and production of highvalue products in their home country while outsourcing less important projects to their overseas plantsOn the ongoing discussions between the government and petrochemical companies on an industrial restructuring plan Moon said his ministry will finalize the plan by the end of this yearIn August the government announced its road map on helping the ailing petrochemical sectors voluntary restructuring efforts aimed at tackling the industrywide crisis stemming from a global oversupply IANS https://dailyworld.in/business/seouls-200-billion-investment-in-us-will-first-go-to-s-korean-firms-minister-646298.html Mon, 03 Nov 2025 15:07:00 +0530 https://dailyworld.in/business/adanis-ambuja-cements-q2-net-profit-soars-364-pc-revenue-rises-21-pc-646301.html Ahmedabad Nov 3 Ambuja Cements part of the diversified Adani Portfolio on Monday reported strong results for the JulySeptember quarter of the current financial year Q2 FY26 with consolidated net profit PAT soaring 364 pc yearonyear YoY to Rs 23023 crore compared to Rs 4965 crore in the yearago period Q2 FY25 The companys standalone PAT also surged nearly three times to Rs 138755 crore compared to Rs 50066 crore in the same quarter last fiscal a jump of 177 per cent YoYDuring the quarter the companys total revenue reached Rs 9174 crore marking its highestever secondquarter performance and a 21 per cent increase yearonyearVinod Bahety Whole Time Director and CEO Ambuja Cements said that this quarter has been noteworthy for the cement industryDespite the headwinds from prolonged monsoons the sector will benefit from the tailwinds of several favourable developments including GST 20 reforms the Carbon Credit Trading Scheme CCTS and the withdrawal of coal cess he addedEBITDA for the quarter stood at Rs 1761 crore up 58 per cent from last financial year with EBITDA per tonne rose to Rs 1060 an improvement of 32 per cent YoYThe companys operating margin expanded to 192 per cent higher by 45 percentage pointsAmbuja Cements also remained debtfree with a net worth of Rs 69493 crore up Rs 3057 crore during the quarter Its earnings per share EPS jumped 267 per cent to Rs 72On the operational front the company announced several capacity expansion plans Its FY28 capacity target has been raised from 140 million tonnes per annum MTPA to 155 MTPA with the additional 15 MTPA expected to come through lowcost debottlenecking at around 48 per tonneThe company has also started trial runs for a new 4 MTPA kiln line at Bhatapara in Chhattisgarh while the 2 MTPA Krishnapatnam grinding unit has been commissioned Three more locations adding 7 MTPA of capacity are expected to become operational in the next quarterOur outlook for the balance period of FY26 remains positive We remain optimistic about delivering double digit revenue growth and four digits PMT EBITDA the company said IANS https://dailyworld.in/business/adanis-ambuja-cements-q2-net-profit-soars-364-pc-revenue-rises-21-pc-646301.html Mon, 03 Nov 2025 15:11:00 +0530 https://dailyworld.in/business/bse-resolves-143-investor-complaints-in-october-receives-120-new-ones-646305.html Mumbai Nov 3 The Bombay Stock Exchange BSE said on Monday that it resolved 143 investor complaints against 90 companies during the month of October These include several complaints carried forward from previous monthsDuring the same period the exchange received 120 new complaints against 81 companies the BSE said in its monthly investor grievance reportDuring the month BSE received 120 complaints against 81 companies In the same period 143 complaints were resolved against 90 companies it saidThese resolved complaints include complaints brought forward from the previous periods the bourse addedAccording to the exchange the top three companies where investor complaints have been pending for redressal for more than one month as of October 31 are JSW Steel Limited with five complaints Aneri Fincap Limited with four complaints and Franklin Industries Limited with four complaintsThe BSE said it continues to take measures to address investor grievances in a timely manner to strengthen market integrity and investor confidenceEarlier in September the stock exchange had resolved 190 complaints against 126 companies and received 173 new complaintsThe stock exchange informed that the top three companies where complaints have been pending for redressal for more than one month as of September 2025 include Suraj Products Limited Bajaj Auto Limited and Reliance Home Finance LimitedMeanwhile the Securities and Exchange Board of India SEBI has been working with market intermediaries and exchanges to improve transparency and speed up complaint redressal through its online platform SCORES SEBI Complaint Redressal SystemTo curb fraud and unethical practices SEBI and the Reserve Bank of India RBI have also intensified their investor awareness initiativesThe RBIs RBI Kehta Hai campaign and SEBIs SEBI vs SCAM campaign continue to educate investors about digital safety fraud prevention and available grievance mechanisms IANS https://dailyworld.in/business/bse-resolves-143-investor-complaints-in-october-receives-120-new-ones-646305.html Mon, 03 Nov 2025 15:16:00 +0530 https://dailyworld.in/business/nepal-sees-major-decline-in-indian-tourist-arrivals-due-to-fragile-law-and-order-situation-646315.html Kathmandu Nov 3 Nepal has witnessed a significant decline in the number of Indian tourist arrivals during the first 10 months of 2025 and only a marginal increase in total foreign tourist inflows according to the latest statistics released by the Nepal Tourism Board NTB India remains the largest source market for Nepals tourism industry accounting for onefourth of total international visitors to the Himalayan nationAccording to NTB data arrivals from the southern neighbour dropped by 11 per cent yearonyear to 243350 between January and October this year Overall foreign tourist arrivals however grew marginally by 03 per cent to 943716Likewise arrivals from another neighbour China decreased by 53 per cent to 78929 during the same period China currently ranks as Nepals thirdlargest source market down from the preCovid period when it had emerged as the secondlargest source market for Nepals tourism industryTourism entrepreneurs said the decline in Indian tourist arrivals was largely due to the impact of the GenZ movement which exposed Nepals fragile law and order situation The GenZ movement which took place in early September left over 70 people dead and several injured while government and private properties were destroyed on a large scaleForeignbranded hotels including the Hyatt Regency and Hilton were severely damaged during the violent protests The Hilton was burnt to the ground while the Hyatt remains closed for maintenanceFour groups of Indian tourists who were preparing to visit Nepal cancelled their trips in the wake of the protests said Umesh Danai Managing Director of Speedy Tourism and Travels Pvt Ltd a travel agency organising trips for Indian and other foreign tourists They were supposed to arrive in Nepal via the land route but they cancelled their travel plansKhum Bahadur Subedi Director of Unique Adventure International which also caters to Indian tourists told IANS that arrivals from India both by air and land decreased in the aftermath of the GenZ movement We are still witnessing the impact as arrivals particularly through the land route have come down he said They Indian tourists are concerned about the security situationAccording to the NTB overall tourist arrivals in September dropped by 183 per cent a decline attributed to the GenZ movement During the month arrivals from India fell by 323 per cent from China by 349 per cent and from the United States by four per cent the three biggest source marketsIn response to the negative impact of the GenZ movement the Nepal Tourism Board in September launched the Now In Nepal campaign to rebuild Nepals tourism imageWhile the arrivals from India recovered in October Indian tourists contributed to a positive momentum with a six per cent growth those from the US and China however continued to declineDanai said his company did not see additional trip cancellations by Indian tourists for October and November It may be because normalcy returned in Nepal earlier than anticipated he said IANS https://dailyworld.in/business/nepal-sees-major-decline-in-indian-tourist-arrivals-due-to-fragile-law-and-order-situation-646315.html Mon, 03 Nov 2025 16:43:00 +0530 https://dailyworld.in/business/mid-cap-stocks-commodities-drive-india-inc-earnings-in-q2-646348.html New Delhi Nov 3 Corporate Indias Q2FY26 earnings season showed midcap companies and commoditylinked sectors leading profit growth offsetting weaknesses in select smallcaps a report said on Monday Midcap firms outperformed expectations with 47 companies reporting a 26 per cent yearonyear earnings increase surpassing the estimated 19 per cent the report from brokerage Motilal Oswal Financial Services Limited saidEarnings upgrades outnumbered downgrades for the first time in several quarters signalling a healthier market backdrop and improving confidence in India Incs profitability trajectory the MOFSL report saidWhile headline indices remain rangebound after a muted year underlying fundamentals are improving supported by moderating earnings cuts diversified sectoral leadership and robust midcap resilience the brokerage saidThe growth in midcap space was seen for the third straight quarter driven by strong performance in technology cement metals stateowned banks real estate and nonlending NBFCsCommodities drove the majority of profit growth with oil and gas cement capital goods metals and technology contributing over 85 per cent of incremental YoY profit the report noted Oil and gas profits surged by 79 per cent compared to the previous yearLargecap earnings saw a 13 per cent growth while small caps showed comparatively weak performance with only 3 per cent yearonyear growth the report saidThe brokerage however maintained that 69 per cent of smallcap stocks met or exceeded estimates but the total results were weighed down by private banks NBFCs technology retail and media sectorsIn the financial sector credit growth and improved asset quality buoyed PSU banks while private banks showed mixed trendsOrder execution and margin improvement supported solid doubledigit growth in the capital goods and infrastructure space Margin stability and cost control led to positive surprises in midtier IT and pharma stocks the brokerage noted IANS https://dailyworld.in/business/mid-cap-stocks-commodities-drive-india-inc-earnings-in-q2-646348.html Mon, 03 Nov 2025 16:49:00 +0530 https://dailyworld.in/business/south-korean-carmakers-see-october-sales-slump-amid-holidays-production-losses-646364.html Seoul Nov 3 South Koreas major automakers including Hyundai Motor Kia Corp and GM Korea on Monday reported a drop in their October sales as fewer working days during the Chuseok holiday and production disruptions weighed on output Industry data released showed overall declines across leading carmakers with only KG Mobility managing a modest gain on the back of stronger overseas demandHyundai Motor Co South Koreas biggest carmaker said its global sales in October dropped 69 per cent from a year earlier weighed down by fewer working days at home due to last months Chuseok holidayHyundai Motor sold 351753 vehicles last month down from 377917 units a year earlier the company said in a releaseDomestic sales slumped 171 per cent to 53822 units while overseas sales went down 48 per cent to 297931 reports Yonhap news agencyKia Corp South Koreas secondlargest automaker said that its sales fell 05 per cent in October from a year earlier due to decreased domestic salesKia a smaller affiliate of local industry leader Hyundai Motor Co sold 263904 vehicles in October down from 265344 units in the same month of last year the company said in a press releaseDomestic sales tumbled 131 per cent to 40001 units from 46025 while overseas sales rose 21 percent to 223014 from 218389 over the same periodGM Korea Co the South Korean unit of General Motors Co said that its monthly sales declined 208 per cent in October from a year earlier amid recent production losses in connection with this years wage negotiationsThe company sold 39630 vehicles last month down from 50021 units a year ago GM Korea said in a releaseDomestic sales fell 395 per cent onyear to 1194 units from 1974 while exports dropped 20 per cent to 38436 units from 48047Renault Korea Motors the South Korean unit of Frances Renault SA said that its sales fell 42 per cent in October from a year earlier due to weaker demand for its modelsThe company sold 7201 vehicles last month down from 12456 units a year earlier it said in a press releaseDomestic sales dropped 40 per cent to 3810 units from 6395 while exports tumbled 44 per cent to 3391 from 6061 over the cited periodMeanwhile KG Mobility Corp said its October sales edged up around 3 per cent from a year earlier thanks to a boost in overseas shipmentsThe South Korean automaker sold 9517 vehicles in October up 29 per cent from the 9245 units sold the same month last year the company said in a release IANS https://dailyworld.in/business/south-korean-carmakers-see-october-sales-slump-amid-holidays-production-losses-646364.html Mon, 03 Nov 2025 16:51:00 +0530 https://dailyworld.in/business/gst-revenue-growth-reflects-economic-resilience-strong-festive-consumption-govt-data-646392.html New Delhi Nov 3 The yearly Goods and Services Tax GST growth from October 2024 to October 2025 has been captured at 78 per cent rising from Rs 965138 crore in October 2024 to Rs 1040055 crore in October 2025 official data showed on Monday The monthly gross domestic revenue is 2 per cent higher from Rs 142251 crore in October 2024 to Rs 145052 in October 2025 while gross GST revenue from imports registered a yearly growth of 129 per cent reflecting strong trade activityThe October 2025 GST revenue collections reflect continued economic resilience strong festive consumption and effective compliance government data showed as the healthy rise in importrelated GST indicates buoyant trade sentiments while domestic collections show steady improvementsOverall the upward trend points towards sustained consumption recovery a broadening tax base and robust fiscal health placing India on a stable trajectory for the remainder of FY 202526The gross GST revenue collected for October 2025 is Rs 195936 crore registering a 46 per cent increase compared to Rs 187346 crores for the same month last yearThe sharp rise in GST collections in the onset of the recent GST rate rationalisation in late September 2025 indicates sustained consumer demand during the festive seasonMoreover the monthly percentage growth in total GST refunds is 396 per cent with refundsdomestic at 265 per cent and refundsimports at 553 per cent rising from Rs 10484 in October 2024 to Rs 13260 in October 2025 and Rs 8808 to Rs 13675 respectivelyTotal Net GST revenue for October 2025 stands at Rs 169002 crore which is 06 per cent higher monthly growth and 71 per cent higher yearly growth than the corresponding period last year at Rs 168054 croreAccording to the data Maharashtra Karnataka Gujarat Tamil Nadu and Haryana together contributed over 40 per cent of the total GST revenue underscoring their role as major consumption and production hubs IANS https://dailyworld.in/business/gst-revenue-growth-reflects-economic-resilience-strong-festive-consumption-govt-data-646392.html Mon, 03 Nov 2025 17:40:00 +0530 https://dailyworld.in/business/indian-stock-markets-end-higher-after-two-days-of-losses-646393.html Mumbai Nov 3 Indian equity markets ended a volatile session on a positive note on Monday snapping a twoday losing streak Gains in real estate and stateowned bank stocks helped lift the indices despite early weaknessAfter opening lower the Sensex recovered to touch an intraday high of 84127 before closing 3978 points or 005 per cent higher at 8397849 The Nifty also gained 4125 points or 016 per cent to end at 2576335 The Nifty oscillated between 25700 and 25800 through the day showing resilience after briefly dipping below the October 24 low of 25718 analysts said The zone between 2566025700 once again acted as a strong demand pocket helping the index recover intraday losses and maintain a constructive tone ahead of key global data releases they addedAmong the Sensex stocks Maruti Suzuki fell over 3 per cent and was among the top losers along with Titan Company BEL TCS ITC NTPC Bajaj Finserv Tata Steel and tech Mahindra On the other hand Mahindra amp Mahindra State Bank of India Tata Motors Passenger Vehicles and HCL Tech were the major gainersIn the broader markets the Nifty MidCap index rose 077 per cent while the Nifty SmallCap index advanced 072 per cent showing strength beyond the frontline stocksAmong sectoral indices PSU bank shares led the rally with the Nifty PSU Bank index climbing 192 per cent Bank of Baroda surged 5 per cent while Canara Bank Bank of Maharashtra Bank of India and Indian Bank also gained The Nifty Metal and Realty indices also added up to 2 per cent eachMeanwhile the FMCG Private Bank and IT indices slipped up to 04 per cent capping the markets overall gainsAnalysts said that despite mixed global cues and cautious investor sentiment buying in select sectors helped the markets end the day in the greenThe domestic market ended on a marginal positive note as profit booking was visible at the higher levels due to the absence of fresh domestic triggers market watchers said While the broader market outperformed since the quarterly earnings are steering investors preference to take a short to mediumterm view they mentioned IANS https://dailyworld.in/business/indian-stock-markets-end-higher-after-two-days-of-losses-646393.html Mon, 03 Nov 2025 17:41:00 +0530 https://dailyworld.in/business/foreign-investors-return-to-indian-markets-with-rs-14-610-crore-inflows-in-oct-646149.html Mumbai Nov 2 After three months of steady withdrawals foreign investors made a strong comeback in October turning net buyers in the Indian market with an investment of Rs 14610 crore The renewed inflows were supported by robust corporate earnings the US Federal Reserves rate cut and growing optimism over the possibility of USIndia trade talks progressing soonData from depositories showed that this turnaround follows a prolonged phase of outflows with foreign portfolio investors FPIs withdrawing Rs 23885 crore in September Rs 34990 crore in August and Rs 17700 crore in JulyThe shift in October marks a significant improvement in sentiment among global investors towards IndiaThe reversal in FPI activity was driven by improved risk sentiment and attractive valuations after recent market corrections according to analystsThey said that resilient corporate earnings across key sectors also boosted investor confidenceMarket watchers added that easing inflation expectations of a softer interest rate cycle and supportive domestic reforms like GST rationalisation have further strengthened Indias appeal to global investorsIf brisk demand conditions continue corporate earnings will improve further making valuations fair In such a scenario FPIs are likely to remain buyers analysts mentionedWith inflation cooling interest rates easing and progress on trade negotiations between India and the US the overall market sentiment looks positive for the coming monthsIn the debt segment foreign investors also remained active investing Rs 3507 crore under the general limit while pulling out Rs 427 crore through the voluntary retention route in OctoberAnalysts believe that if global conditions remain stable and domestic earnings continue to improve foreign inflows could stay strong providing muchneeded support to Indian equitiesThe red hot IPO market and the high premium investors are willing to pay for new issues are encouraging FIIs to invest through the primary market they added IANS https://dailyworld.in/business/foreign-investors-return-to-indian-markets-with-rs-14-610-crore-inflows-in-oct-646149.html Sun, 02 Nov 2025 13:00:00 +0530 https://dailyworld.in/business/4-of-indias-top-10-companies-add-rs-95-447-crore-in-market-value-last-week-646157.html Mumbai Nov 2 Four of Indias top 10 most valued companies saw their combined market valuation rise by Rs 9544738 crore last week driven by gains in Bharti Airtel State Bank of India SBI and Life Insurance Corporation of India LIC Meanwhile six other heavyweights including HDFC Bank TCS ICICI Bank Bajaj Finance Infosys and Hindustan Unilever collectively lost Rs 9168594 crore in valueThe market capitalisation of SBI climbed by Rs 3009182 crore to reach Rs 86490887 crore while Bharti Airtels valuation rose by Rs 1454037 crore to Rs 117155456 croreLIC also witnessed a rise of Rs 338387 crore taking its total market value to Rs 56589754 croreHowever the broader trend among other top firms was negative Bajaj Finance saw the steepest decline with its market value dropping by Rs 2909012 crore to Rs 64875624 croreICICI Banks valuation slipped by Rs 216189 crore to Rs 96112786 crore and Infosys lost Rs 1782238 crore to settle at Rs 615890 croreHindustan Unilevers valuation fell by Rs 1192417 crore to Rs 57956193 crore while HDFC Banks market cap declined by Rs 954796 crore to Rs 151867914 croreTCS also recorded a marginal loss of Rs 168241 crore bringing its valuation to Rs 110633880 croreAmong the top 10 most valued Indian companies HDFC Bank continued to hold the second spot followed by Bharti Airtel TCS ICICI Bank SBI Bajaj Finance Infosys Hindustan Unilever and LICThe mixed movement in valuations reflects the ongoing volatility in Indian equity markets with select banking and telecom stocks attracting investor interest while technology and consumer stocks faced selling pressure analysts saidMeanwhile the Nifty index closed at 2572210 registering a 028 per cent decline from the previous weeks closeCommenting on the technical outlook analysts said that On the weekly chart the index reflects a sideways setup as it failed to sustain above the 25800 mark indicating the possibility of some retracement or consolidation in the near term IANS https://dailyworld.in/business/4-of-indias-top-10-companies-add-rs-95-447-crore-in-market-value-last-week-646157.html Sun, 02 Nov 2025 13:19:00 +0530 https://dailyworld.in/business/after-layoffs-microsoft-plans-fresh-hiring-focused-on-ai-satya-nadella-646188.html New Delhi Nov 2 After a year of major layoffs Microsoft is preparing to grow its workforce again but this time with a clear focus on artificial intelligence AI Speaking on the BG2 podcast with investor Brad Gerstner Microsoft CEO Satya Nadella said the companys employee count will increase in a smarter and more leveraged way driven by AI technologyWe will grow our headcount Nadella said adding that future hiring will be shaped by how AI boosts productivity across the companyMicrosoft had about 228 lakh employees at the end of June 2025 with the number staying almost unchanged after several rounds of job cuts that affected over 15000 workersIn contrast before the AI boom in 2022 the companys workforce had expanded by 22 per centThe hiring slowdown came as Microsoft shifted its focus to investing in AI infrastructure partnerships and tools like Microsoft 365 Copilot and GitHub CopilotNadella explained that the company has entered a new phase not of mass hiring but of targeted scaling where AI allows smaller teams to achieve much moreHe described this as an unlearning and learning process in which employees must adapt to using AI in every part of their work from research and planning to executionHe shared an example of a Microsoft executive who used AI agents to manage the companys fibernetwork operations when hiring couldnt keep up with growing demandThats an example of a smaller team achieving more because of AI Nadella saidMeanwhile earlier this year multiple reports suggested that Microsoft laid off 4 per cent of its workforce or around 9000 employees in yet another round of job cuts this yearAccording to The Seattle Times in July this year employees in Microsofts Xbox division known as Microsoft Gaming are being hit hard by these layoffsTo position Gaming for enduring success and allow us to focus on strategic growth areas we will end or decrease work in certain areas of the business and follow Microsofts lead in removing layers of management to increase agility and effectiveness said Xbox leader Phil Spencer in a message to the team IANS https://dailyworld.in/business/after-layoffs-microsoft-plans-fresh-hiring-focused-on-ai-satya-nadella-646188.html Sun, 02 Nov 2025 14:50:00 +0530 https://dailyworld.in/business/govt-moots-easing-of-fdi-norms-for-e-commerce-to-push-exports-646189.html New Delhi Nov 2 The Commerce and Industry Ministry is considering a proposal to permit foreign direct investment FDI in the inventorybased model of ecommerce as part of the governments strategy to push exports The ministry has sought feedback on the issue from various Central government departments on the issue in order to move ahead with the proposalSenior officials cite the example of China to highlight the huge potential for promoting exports through ecommerce entitiesIndias FDI policy allows 100 per cent FDI in the marketplace model of ecommerce under the automatic route where companies such as Amazon and Flipkart act as platforms connecting buyers and sellers but do not own the inventoryHowever FDI is restricted in the inventorybased model where the ecommerce entity directly sells its own inventory to consumers While some specific exceptions allow manufacturers to sell their own products and singlebrand retailers to operate via ecommerce the general rule prohibits FDI in direct B2C sales through an inventorybased modelCommerce and Industry Minister Piyush Goyal has also indicated that the government is considering the proposal to allow ecommerce companies to keep inventory exclusively for exportsIndias ecommerce exports are growing with current estimates around 45 billion and a government target of 200300 billion by 2030 Popular export products include fashion apparel home decor handicrafts organic beauty products toys and electronic goodsThe Foreign Trade Policy 2023 includes a dedicated chapter on ecommerce to outline the roadmap for crossborder trade in the digital economy reflecting the governments initiatives to push exports via ecommerceThe government has also extended the benefit of remission of duties and taxes on exported products RoDTEP to ecommerce exports including those via postal and courier routes to improve cost competitivenessThe government also plans to set up ecommerce export hubs in partnership with the private sector under the Foreign Trade Policy Besides Digital India programs have helped by making online payments easier and simplifying customer verification IANS https://dailyworld.in/business/govt-moots-easing-of-fdi-norms-for-e-commerce-to-push-exports-646189.html Sun, 02 Nov 2025 14:50:00 +0530 https://dailyworld.in/business/you-forgot-to-mention-act-4-elon-musk-hits-back-at-sam-altman-over-tesla-car-delay-claim-646202.html New Delhi Nov 2 Tesla CEO Elon Musk has hit back at OpenAI chief Sam Altman after the latter claimed he was still waiting for a Tesla car more than seven years after booking it Musk accused Altman of leaving out key details saying the issue had already been resolved and a refund issued within 24 hoursnbspThe longrunning tension between Musk and OpenAI CEO Altman flared up once again after Altman alleged that he has been waiting more than seven years for a Tesla vehicle he booked and still hasnt received itAltman claimed that he paid 45000 as a prereservation fee for a Tesla car in July 2018 but despite multiple followups he has not received the vehicle or a refund In a post on social media platform X Altman shared screenshots of his email exchanges with Tesla including the booking confirmation a refund request and an error message showing his email bounced back with Address not foundnbspCalling it a tale in three acts Altman wrote I really was excited for the car And I understand delays But 75 years has felt like a long time to waitTesla CEO Elon Musk however quickly responded to Altmans post accusing him of leaving out key details And you forgot to mention act 4 where this issue was fixed and you received a refund within 24 hours But that is in your nature Musk wrote in a pointed reply on XnbspIn a followup post Musk added You stole a nonprofit taking a sharp jab at Altman over OpenAIs shift from a nonprofit to a forprofit structure a move Musk has publicly criticised in the pastTeslas secondgeneration Roadster which Altman is believed to have reserved was first unveiled in 2017 as the fastest production car ever made However the vehicles launch has been repeatedly delayed and remains in the design development stage as per Teslas latest financial filings IANS https://dailyworld.in/business/you-forgot-to-mention-act-4-elon-musk-hits-back-at-sam-altman-over-tesla-car-delay-claim-646202.html Sun, 02 Nov 2025 15:40:00 +0530 https://dailyworld.in/business/sweet-revolution-india-becomes-worlds-2nd-largest-honey-exporter-646206.html New Delhi Nov 2 India has emerged as the secondlargest exporter of honey globally with shipments of around 107 lakh metric tonnes MT of natural honey worth 17755 million in FY 202324 rising steadily from the 9th rank in 2020 an official statement said on Sunday The National Beekeeping and Honey Mission NBHM is a Central Sector Scheme launched by the government for the overall promotion and development of scientific beekeeping and the production of quality honey and other beehive productsImplemented through the National Bee Board NBB the scheme was announced under the banner of Atmanirbhar Bharat with a total budget outlay of Rs 500 crore for three years FY 202021 to 202223 It has since been extended for another three years FY 202324 to 202526 with a remaining budget of 370 crore from the original allocation according to the statementThe Madhukranti portal has been launched for the online registration and traceability of the source of honey and other bee productsIndias diverse agroclimatic conditions offer vast potential for beekeeping honey production and export Recognising its importance in rural development and agricultural sustainability the Centre launched the NBHM as part of the Sweet Revolution an ambitious initiative aimed at promoting apiculture to accelerate the production of quality honey and boost farmers income through scientific and organised beekeepingBeekeeping an agrobased activity undertaken by farmers and landless labourers in rural areas forms an integral part of the Integrated Farming System It plays a crucial role in pollination thereby enhancing crop yields and farmers income while providing honey and other highvalue beehive products such as beeswax bee pollen propolis royal jelly bee venom etc all of which serve as important sources of livelihood for rural communitiesThe NBHM is being implemented through 3 Mini Missions Under Mini MissionI the thrust is being given on production amp productivity improvement of various crops through pollination assisted by the adoption of scientific beekeeping Mini MissionII concentrates on postharvest management of beekeepingbeehive products including collection processing storage marketing value addition etc with a thrust to develop requisite infrastructural facilities for these activities while Mini MissionIII focuses on research amp technology generation for different regions the statement added IANS https://dailyworld.in/business/sweet-revolution-india-becomes-worlds-2nd-largest-honey-exporter-646206.html Sun, 02 Nov 2025 16:03:00 +0530 https://dailyworld.in/business/trade-talks-q2-earnings-and-global-cues-likely-to-drive-sensex-nifty-next-week-646134.html Mumbai Nov 2 The coming week is expected to be actionpacked for the Indian stock markets as investors turn their focus to key corporate earnings a series of upcoming IPOs and crucial trade negotiations between India and the United States These factors are likely to set the tone for the Sensex and Nifty after both indices ended the last week with minor lossesThe Sensex fell 46575 points or 055 per cent to settle at 8393871 while the Nifty closed 15575 points or 060 per cent lower at 25722 on FridayWeak global cues and profit booking amid mixed corporate earnings weighed on investor sentiment Over the month the Sensex rose 46 per cent and the Nifty gained 45 per centBroader markets also ended lower with the BSE Midcap index declining 055 per cent and the Smallcap index falling 040 per centNext week several heavyweight companies such as Bharti Airtel Titan Company Adani Enterprises Adani Ports InterGlobe Aviation Mahindra amp Mahindra Paytm SBI Britannia Lupin Bajaj Auto and Hindalco Industries are set to announce their quarterly resultsThe market is likely to take cues from these earnings reports for further directionOn the policy side Commerce Minister Piyush Goyal said India is in the final stages of negotiations with the United States for a bilateral trade agreementGoyal added that talks with the European Union are also progressing wellMeanwhile the primary market is gearing up for a busy week with five IPOs opening for subscription two on the mainboard and three in the SME segmentAdditionally five new companies will make their stock market debut next week further adding to market buzzWith a mix of corporate earnings trade negotiations and IPO activity investors can expect volatility in the markets next week analysts saidGlobal cues and updates on USIndia trade talks will also play a key role in shaping investor sentiment they addedIn terms of levels the Nifty has immediate support at 25600 and 25500 which could provide buying opportunities on declinesOn the upside resistance is seen at 25800 and 26000 with the latter acting as a key hurdle A sustained breakout above 26000 could trigger a bullish move potentially targeting the 2610026300 zone in the coming weeks market watchers added IANS https://dailyworld.in/business/trade-talks-q2-earnings-and-global-cues-likely-to-drive-sensex-nifty-next-week-646134.html Sun, 02 Nov 2025 11:49:00 +0530 https://dailyworld.in/business/make-in-india-booster-aoc-projectors-to-be-locally-manufactured-soon-646138.html New Delhi Nov 2 In a major boost to the governments Make in India mission Clixroute Industries Private Limited on Sunday announced a strategic partnership with TPV Audio and Visual Technology Shenzhen Co Ltd to locally manufacture AOC projectors and AOC outdoor power supplies in India The company plans to invest 10 million to set up manufacturing infrastructure and build a strong local supply chain in Uttar PradeshUnder this multiyear agreement Clixroute Industries part of the RAAMPS Group of Companies will serve as the exclusive importer manufacturer and reseller of AOC projectors and outdoor power supplies in IndiaThe collaboration is aimed at reducing import dependency and strengthening Indias selfreliant manufacturing ecosystemAOC International a subsidiary of Taiwanbased TPV Technology is a globally recognised electronics brand known for its highquality display productsTPV Technology is one of the worlds largest manufacturers of LCD monitors and televisions and AOC is among its top global brandsSpeaking on the partnership Himanshu Gupta Director of Clixroute Industries said This partnership is more than a business agreement its a bridge between worldclass AOC and Indias rapidly growing consumer marketBy combining TPVs innovation with our manufacturing expertise we will deliver authentic AOC projectors and outdoor power solutions made right here in India Gupta mentionedHe added that the company will invest over 10 million to build worldclass infrastructure in Uttar PradeshThe project will create around 200 new jobs support local supply networks and promote skill development in the regionWith Indias demand for advanced projection systems and outdoor power solutions growing across the corporate education entertainment and infrastructure sectors this collaboration is expected to significantly strengthen AOCs presence in the countryThe partnership highlights how global technology and Indian manufacturing can come together to power the nations next phase of industrial growth IANS https://dailyworld.in/business/make-in-india-booster-aoc-projectors-to-be-locally-manufactured-soon-646138.html Sun, 02 Nov 2025 12:20:00 +0530 https://dailyworld.in/business/gst-20-booster-upi-sees-2070-billion-transactions-in-oct-worth-rs-2728-lakh-crore-645951.html New Delhi Nov 1 Amid the GST 20 reforms the unified payments interface UPI witnessed 25 per cent transaction count growth yearonyear at 2070 billion in the month of October along with registering 16 per cent annual growth in transaction amount at Rs 2728 lakh crore the National Payments Corporation of India NPCI data showed on Saturday Monthwise too UPI witnessed a growth in transaction amount from Rs 2490 lakh crore in SeptemberAverage daily transaction amount in October stood at Rs 87993 crore a significant rise from Rs 82991 crore in September the NPCI data showedThe month of October recorded 668 million average daily transaction counts up from 654 million registered in SeptemberIn September the UPI saw 31 per cent transaction count growth yearonyear at 1963 billion with 21 per cent monthonmonth growth in transaction amount at Rs 2490 lakh crore in AugustMonthly transactions via instant money transfer IMPS went up 2 per cent in October at 642 lakh crore onyear and up 6 per cent onmonth from Rs 597 lakh crore in September the data showedDaily transaction amount via IMPS stood at Rs 20709 crore up from Rs 19895 crore in SeptemberMeanwhile UPI continues to dominate the countrys digital payments landscape with transactions surging 35 per cent yearonyear YoY to reach 10636 billion in the first half of 2025 data showed this weekThe total value of these transactions stood at a massive Rs 14334 lakh crore highlighting how deeply digital payments have become a part of everyday life in India according to Worldlines India Digital Payments Report 1H 2025Persontomerchant P2M transactions grew 37 per cent to 6701 billion driven by the Kirana Effect where small and micro businesses have become the backbone of Indias digital economy Indias QRbased payment network also saw tremendous growth more than doubling to 678 million by June 2025 a 111 per cent rise from January 2024 IANS https://dailyworld.in/business/gst-20-booster-upi-sees-2070-billion-transactions-in-oct-worth-rs-2728-lakh-crore-645951.html Sat, 01 Nov 2025 10:35:00 +0530 https://dailyworld.in/business/uidai-rolls-out-fully-digital-aadhaar-update-system-with-new-fees-digital-kyc-and-more-645971.html New Delhi Nov 1 In a significant move to provide digital convenience to Aadhaar cardholders the Unique Identification Authority of India UIDAI has announced major reforms to make Aadhaar updates faster simpler and entirely online effective from Saturday The new changes will allow cardholders to update key details such as their name address date of birth or mobile number directly through the UIDAI portal eliminating the need to visit enrolment centresThe information that an individual submits will be digitally verified using linked government documents like PAN cards passports driving licences or ration cards ensuring both speed and accuracyAdditionally the government has mandated that AadhaarPAN linking be completed by December 31 2025 and that PAN cards that are not linked will be deactivated on January 1 2026As part of the procedure new PAN applicants will also need to finish an Aadhaarbased verificationFurthermore UIDAI has streamlined the digital Know Your Customer KYC process for banks and other financial institutions enabling users to confirm their identity via video KYC Aadhaar OTPbased authentication or optional inperson verificationThe authority has introduced a revised service fee structure that will also come into effect on November 1 Under the new fee structure the Aadhaar reprints will be done at Rs 40 For a biometric update the cardholders need to pay Rs 125 and for updating demographic information the fee would be Rs 75 Home enrolment service for the first applicant will be charged at Rs 700 and Rs 350 for each additional person at the same addressThe digitalfirst reforms are intended to improve the security and usability of Aadhaar services so that citizens can easily manage their identity records from homeEarlier a cardholder had to visit an Aadhaar Seva Kendra for any correction or update The new reforms bring the entire process online through the UIDAI portal IANS https://dailyworld.in/business/uidai-rolls-out-fully-digital-aadhaar-update-system-with-new-fees-digital-kyc-and-more-645971.html Sat, 01 Nov 2025 11:56:00 +0530 https://dailyworld.in/business/commercial-lpg-cylinder-prices-reduced-across-metros-from-november-1-645976.html New Delhi Nov 1 Staterun oil marketing companies have reduced commercial LPG cylinder prices across metros offering a slight relief to businesses starting from Saturday The move will provide marginal relief to thousands of small and mediumsized businessesAccording to the latest revision announced by staterun oil marketing companies OMCs the 19kg commercial LPG cylinder will now cost Rs 159050 in Delhi reflecting a Rs 5 cut from the previous rate of Rs 159550With the highest drop of Rs 650 per cylinder among the metros the charge in Kolkata will now be Rs 1694 per cylinder Chennai will now charge Rs 1750 down Rs 450 while Mumbai now charges Rs 1542 down Rs 5For businesses that depend significantly on LPG for their everyday operations like restaurants hotels and catering services the most recent revision provides a small reprieve following a hike of Rs 1550 that was put into effect late in SeptemberHowever domestic LPG prices have not changed and are the same in every cityEarlier in September OMCs had reduced the price of commercial LPG gas cylinders by Rs 5150 Following the revision a 19kg commercial LPG cylinder in Delhi was available at Rs 1580Earlier OMCs had reduced the price of a 19 kg commercial LPG gas cylinder by Rs 3350 Before that prices had been reduced by Rs 5850 on July 1Earlier in June oil firms had announced a Rs 24 cut for commercial cylinders setting the rate at Rs 172350 In April the price stood at Rs 1762 February saw a small Rs 7 reduction but March reversed this slightly with a Rs 6 increaseMeanwhile the Centre had announced to provide 25 million free LPG connections under the Pradhan Mantri Ujjwala Yojana PMUY during the festival season IANS https://dailyworld.in/business/commercial-lpg-cylinder-prices-reduced-across-metros-from-november-1-645976.html Sat, 01 Nov 2025 12:11:00 +0530 https://dailyworld.in/business/nifty-sensex-end-4-week-winning-streak-amid-profit-booking-645977.html Mumbai Nov 1 Indian equity benchmarks ended their fourweek winning streak closing marginally lower this week amid profitbooking and mixed global cues Benchmark indices Nifty and Sensex dipped 065 and 055 per cent during the week to close at 25722 and 83938 respectivelyMarket optimism was bolstered during the first three sessions by positive domestic economic data and Chinas approval for few Indian companies to import rare earth magnetsHowever sentiment turned cautious after the US Federal Reserve cut its benchmark interest rate by 25 basis points to the 375 per cent4 per cent rangeIndias industrial output rose 4 per cent YoY in September 2025 supported by strong manufacturing activity The US Federal Reserve hinted that the 25bps cut might be the final one in 2025 which dampened hopes of further nearterm easing said Ajit Mishra SVP Research Religare Broking LtdFurther steady corporate earnings and continued FII inflows through October helped cushion the downside he addedMetals energy and realty stocks were the major contributors to the rally while auto pharma and IT stocks experienced profittakingWhile PSU banks surged on reports of a potential hike in foreign investment limits metal counters gleamed on renewed optimism after Chinas pledge to rein in steel overcapacity and signs of progress in USChina trade talks added Vinod Nair Head of Research Geojit Investments LimitedAnalysts said that capital market stocks lost momentum as SEBIs proposed overhaul of TER structures weighed on sentimentSupport for the Nifty is currently located close to the 25600 zone and the 25400 zone while resistance is seen around 26100 analysts saidIn the upcoming holidayshortened week investors are looking for cues from the final readings of the HSBC Manufacturing PMI and HSBC Services and Composite PMI dataInvestors are also keen on the IndiaUS trade deal and trends in developed markets while on the earnings front several index heavyweights are set to announce their quarterly results IANS https://dailyworld.in/business/nifty-sensex-end-4-week-winning-streak-amid-profit-booking-645977.html Sat, 01 Nov 2025 12:25:00 +0530 https://dailyworld.in/business/broader-markets-extend-gains-for-second-week-despite-fii-selling-weak-global-cues-646002.html Mumbai Nov 1 The domestic broader market ended higher for the second consecutive week despite market volatility driven by persistent foreign investor selling mixed quarter earnings Q2 earnings global geopolitical uncertainty and the US Fed rate cut decision The BSE Midcap and Smallcap indices rose 1 per cent and 07 per cent respectively Mirroring a similar trend Nifty Midcap 100 gained 1 per cent and the Nifty Smallcap advanced 07 per cent during the weekMajor sectoral indices remained firm during the week despite a fall in the Sensex and Nifty50 Nifty PSU Bank index jumping 47 per cent followed by Oil amp Gas 3 per cent Nifty Metals 25 per cent and Nifty Energy 18 per cent On the other hand Nifty Pharma Nifty Auto and Private Bank indices declined by up to 1 per cent reflecting selective profit booking across consumer segmentsSensex and Nifty ended their fourweek winning streak this week closing marginally lower amid profitbooking and mixed global cuesNSEs Nifty and BSEs Sensex dipped 065 and 055 per cent to close at 25722 and 83938 respectivelyPositive domestic economic data and Chinas approval of a small number of Indian companies imports of rare earth magnets boosted market optimism during the first three sessionsHowever after the US Federal Reserve lowered its benchmark interest rate by 25 basis points to the 3754 per cent range sentiment became cautiousFor the 28th consecutive week domestic institutional investors DIIs continued to be heavy buyers buying stocks valued at Rs 1880426 crore while foreign institutional investors FIIs continued to sell shares valued at Rs 2102 croreIn contrast to the strong DII buying of Rs 5279402 crore FII selling decreased to Rs 234689 crore on a monthovermonth basis IANS https://dailyworld.in/business/broader-markets-extend-gains-for-second-week-despite-fii-selling-weak-global-cues-646002.html Sat, 01 Nov 2025 13:59:00 +0530 https://dailyworld.in/business/mospi-iica-join-hands-to-develop-comprehensive-sdg-aligned-framework-for-viksit-bharat-mission-646009.html New Delhi Nov 1 The Ministry of Statistics and Programme Implementation MoSPI on Saturday said that it has signed a memorandum of understanding MoU with the Indian Institute of Corporate Affairs IICA to develop a comprehensive sustainable development goals SDG aligned framework integrating national state and corporate sustainability frameworks The collaboration aims to ensure that corporate social responsibility CSR and ESG Environmental Social and Governance initiatives of businesses are effectively aligned with state and Union Territory SDG objectivesThe IICA an autonomous institution under the Ministry of Corporate Affairs envisions developing a Comprehensive SDG Alignment Framework integrating National State ESG and CSR indicators to achieve the vision of Viksit BharatThe National Indicator Framework NIF which serves as the cornerstone for monitoring Indias progress towards the SDGs will form the foundation for this collaborative effortBuilding upon the NIF the initiative will develop a framework that aligns statelevel indicators with national priorities while integrating ESG and CSR dimensionsTogether the NIFSIF alignment will strengthen evidencebased policymaking foster sustainable corporate participation and advance the governments vision of Viksit Bharat through coherent and inclusive SDG monitoring and implementationThe collaboration has been envisaged under the dynamic leadership of Gyaneshwar Kumar Singh Director General amp CEO IICA who has been instrumental in steering IICAs strategic initiatives in the areas of ESG CSR and Responsible Business Conduct and integrates the same with Indias national development agendaThe signing ceremony was attended by Kishor Baburao Surwade Additional Director General Capacity Development Division MoSPI Dr Garima Dadhich Associate Professor and Head School of Business Environment IICA Ruchika Gupta Deputy Director General Social Statistics Division MoSPI Shivnath Singh Jadawat Director Training Unit Capacity Development Division MoSPI Dr Ziaul Haque Director Social Statistics Division MoSPI and other officials from the MoSPI and the IICA IANS https://dailyworld.in/business/mospi-iica-join-hands-to-develop-comprehensive-sdg-aligned-framework-for-viksit-bharat-mission-646009.html Sat, 01 Nov 2025 14:24:00 +0530 https://dailyworld.in/business/automakers-report-robust-india-sales-in-october-over-gst-reforms-646017.html New Delhi Nov 1 Automakers like Kia India Skoda Auto India Nissan Motor India and Mahindras Trucks and Buses on Saturday reported robust sales in the month of October driven by strong festive buying due to GST reforms Kia India achieved its bestever monthly sales performance in October with 29556 units since entering the Indian marketWith a robust 30 per cent yearonyear increase over the 22735 units sold in October 2024 marking an unprecedented sales milestone this achievement underscores Kias strong and sustained momentum in Indias competitive automotive landscape the company said in a statementSkoda sold 8252 units in October which is its highestever monthly sales Nissan Motor reported consolidated sales of 9675 units marking a 45 per cent monthonmonth growth and Mahindra and Mahindras overall sales including exports in the Trucks and Buses business stood at 2034 unitsBetween January and October Skoda sold 61607 cars hitting an alltime high annual sales in just 10 months The growth was driven by Skodas firstever sub4m SUV the Kylaq with steady demand for the Kodiaq sustained contributions from the Kushaq and SlaviaNissan Motor reported that its performance reflected a strong festive demand for the New Nissan Magnite during Navratri Dussehra and Diwali complemented by the positive impact of the GST rate reduction announced by the Government of IndiaDomestic wholesale stood at 2402 units supported by robust demand for the New Nissan Magnite while exports reached 7273 units reinforcing Nissan Indias position as a global export hub The company recently celebrated the export of its 12 millionth vehicle strengthening its Make in India Make for the World philosophyMahindra amp Mahindras overall sales including exports in the Trucks and Buses business for the month rose 14 per cent year on year YOY to 2034 units from 1791 units in the same month a year ago Mahindras Trucks amp Buses business comprises of Mahindra Trucks amp Buses division MTBD and SML Mahindra Limited SMLGST 20 brought small cars and twowheelers up to 350 cc to an 18 per cent slab and introduced a 40 per cent flat rate for large cars eliminating the previous separate compensation cess This change makes cars more affordable with small cars and large SUVs seeing price reductions and has spurred a surge in sales and enquiries especially with the festive season IANS https://dailyworld.in/business/automakers-report-robust-india-sales-in-october-over-gst-reforms-646017.html Sat, 01 Nov 2025 14:49:00 +0530 https://dailyworld.in/business/maruti-suzuki-india-tata-motors-report-resilient-domestic-sales-in-oct-over-gst-cuts-646033.html Mumbai Nov 1 As GST reforms boosted festive demand in the country Maruti Suzuki India Limited on Saturday said it sold a total of 220894 units in October which is its highestever monthly sales volume Domestic sales reached an alltime high of 180675 units The sales to other original equipment manufacturers OEMs were at 8915 units and exports were at 31304 units according to the companyTata Motors Passenger Vehicles Ltds sales in the domestic and international market for October stood at 61295 units up 265 per cent compared to 48423 units during the same month a year ago said the company in a statementSUVs led the charge as more than 47000 units were sold last month achieving the highestever 77 per cent share in monthly sales The automaker registered alltime high EV wholesales at 9286 units surging over 73 per cent yearonyear as robust retail demand drove recordbreaking monthly registrationsThe momentum was further strengthened by strong demand for the Nexon which posted an exceptional 50 per cent YoY growth on the back of its popular multipowertrain options Meanwhile the Harrier and Safari together achieved a new record with 7000 units soldThe Tata Groups firm also witnessed record festive performance with over one lakh vehicles delivered between Navratri and Diwali marking a robust 33 per cent onyear growthMeanwhile Hyundai Motor India Limited HMIL achieved total monthly sales of 69894 units in October 2025 including monthly domestic sales of 53792 units and exports of 16102 unitsHyundai Motors registered over 4 per cent monthonmonth rise in monthly domestic sales at 53792 units compared to 51547 units in September However its exports fell 14 per cent monthonmonth to 16102 units from 18800 units in the previous monthIn the month under review Hyundai CRETA and VENUE achieved their secondhighestever combined monthly sales of 30119 units informed the automaker IANS https://dailyworld.in/business/maruti-suzuki-india-tata-motors-report-resilient-domestic-sales-in-oct-over-gst-cuts-646033.html Sat, 01 Nov 2025 16:18:00 +0530 https://dailyworld.in/business/oyo-faces-allegations-of-daylight-heist-over-bonus-share-ballot-646038.html Mumbai Nov 1 Fintech founder Mohit Gang has accused hospitality chain OYO Rooms of attempting a daylight heist as retail investors are being scammed through a postal ballot that would issue bonus Compulsorily Convertible Preference Shares In a post on X Gang said that OYOs postal ballot on October 27 proposed three measures increasing authorised capital issuing bonus CCPS and granting sweat equityHe claimed that a scam lay behind the second measure of issuing bonus CCPS as the threeday response window was intended to lead retail shareholders to overlook the notice resulting in them receiving lowervalue Class A CCPS that convert oneforone into equityIn contrast insiders promoters and institutional investors opting for Class B could benefit from more favourable conversion terms linked to hiring merchant bankers for an IPOFor Class A investors who take no action on the postal ballot one share will be allotted for every 6000 existing sharesClass B available by optin could convert at significantly better ratios potentially providing thousands of additional shares per 6000 holdings if merchant bankers are appointed Gang saidClass B is the clear winner here and a nobrainer choice Because the upside is huge with very little downside If they appoint Merchant bankers one is eligible for extra 1109 shares for every 6000 shares held That is a neat 185 per cent upside his X post readSimply a classic daylight corporate heist By giving just 3 days to respond to this email along with the documentation requirement they have made it virtually impossible for normal investors to opt for Class B Gang addedCapitalmind AMC CEO Deepak Shenoy also took to X following Gangs allegation writing Please be aware if you are a shareholderOYO plans to file its Draft Red Herring Prospectus DRHP in November for a 78 billion valuation for its IPO IANS https://dailyworld.in/business/oyo-faces-allegations-of-daylight-heist-over-bonus-share-ballot-646038.html Sat, 01 Nov 2025 16:21:00 +0530 https://dailyworld.in/business/two-wheeler-manufacturers-record-8-to-11-pc-sales-growth-in-october-due-to-gst-reforms-646046.html Mumbai Nov 1 Buoyed by GST reforms and strong festive demand Indias twowheeler sales soared with leading manufacturers reporting 8 to 11 per cent growth in sales during October 2025 Chennaibased twowheeler manufacturer TVS Motor Company recorded monthly sales reaching 543557 units an 11 per cent YoY the company said on SaturdayTwowheelers drove strong sales with a 10 per cent increase to 525150 units alongside a 21 per cent rise in total international business sales to 115806 unitsTwowheeler sales abroad grew by 18 per cent increasing from 87670 units in October 2024 to 103519 units in October 2025 Domestic twowheeler sales of TVS grew 8 per cent YoY with sales touching 421631 units in OctoberMotorcycles rose by 16 per cent to 266715 units while scooters saw a 7 per cent increase to 205919 units Electric vehicle sales increased by 11 per cent to 32387 units while the threewheeler segment registered a growth of 70 per cent to 18407 unitsWhile the retail EV sales continue to be robust magnet availability continues to pose challenges in the short to medium term the company notedMeanwhile Suzuki Motorcycle India Pvt Ltd reported strong sales totalling 129261 units up 8 per cent YoY The companys retail sales reached an alltime high of 140679 units in October the company saidDomestic sales totalled 103454 units while exports increased by 71 per cent to reach 25807 units Suzuki also reported spare parts sales of Rs 857 million for the monthThe record domestic retail sales of more than 140 lakh units demonstrate robust demand during the festive period Our focus remains on enriching the overall ownership experience while expanding our presence across the country said Deepak Mutreja Vice President Sales amp Marketing Suzuki Motorcycle India Pvt Ltd IANS https://dailyworld.in/business/two-wheeler-manufacturers-record-8-to-11-pc-sales-growth-in-october-due-to-gst-reforms-646046.html Sat, 01 Nov 2025 16:54:00 +0530 https://dailyworld.in/business/ola-electrics-october-sales-drop-61-pc-yoy-to-16-034-units-646053.html Mumbai Nov 1 Bhavish Aggarwalrun Ola Electric recorded sales of 16034 escooters in the month of October marking a 61 per cent decline from 41843 units sold in the same month last year according to the data from governments Vahan portal on Saturday In the month of September Ola Electric had sold 13421 units as per Vahan dataThe drop in sales come as sales in Goa have reportedly been temporarily suspended due to complaints regarding poor aftersales service and delays in receiving registration certificatesEarlier shares of the electricvehicle maker faced significant pressure during the special Muhurat Day trading session on October 21 following reports that senior Ola Electric executives were implicated in the suicide of 38yearold engineer K AravindAravind a homologation engineer at Ola Electric allegedly died by suicide on September 28 at his Bengaluru flat In a 28page handwritten note he accused his superiors of continuous workplace harassment and of withholding salary and other financial duesDuring the hearing at the court advocate Prasanna Kumar who appeared for the complainant described Ola Electric as worse than the East India Company alleging severe mistreatment of employeesHe also raised concerns about a transfer of Rs 1746 lakh to Aravinds bank account two days after his death calling it suspiciousMeanwhile the defendants lawyer said that the matter was initially registered as an Unnatural Death Report UDR so a new FIR should not have been filedOla Electric has denied all allegations adding that Aravind never raised any formal complaints or grievances about harassment during his employmentAfter hearing both sides the High Court directed the police to continue their investigation fairly but instructed them not to harass the petitioners The court has scheduled the next hearing for November 17 IANS https://dailyworld.in/business/ola-electrics-october-sales-drop-61-pc-yoy-to-16-034-units-646053.html Sat, 01 Nov 2025 17:33:00 +0530 https://dailyworld.in/business/south-korea-china-renew-489-billion-currency-swap-deal-646056.html Seoul Nov 1 South Korea and China signed an agreement on Saturday to renew their currency swap deal worth 70 trillion won 489 billion for another five years the presidential office said The deal between the central banks of both countries was signed alongside six other memorandums of understanding MOUs on the sidelines of President Lee Jae Myungs summit with Chinese President Xi Jinping in the southeastern city of Gyeongju reports Yonhap news agencyThe previous Korean wonChinese yuan swap agreement with the same amount and a fiveyear term expired last monthThe currency swap deal is expected to help stabilize financial and foreign exchange markets and promote trade between the two nations the office said in a releaseThe two sides also signed an MOU on strengthening exchanges and services and tradeIt will lay the institutional foundation for economic cooperation through substantive progress in KoreaChina free trade agreement negotiations on services and investment the office saidIn addition the two nations signed an MOU on a joint economic cooperation plan for 20262030 the office said noting it would set a longterm direction for promoting mutually beneficial cooperation between the two countriesOther agreements included bilateral cooperation to combat voice phishing and online scam crimes between police the joint promotion of a startup partnership program and phytosanitary requirements for the export of fresh Korean persimmons to ChinaJinping departed for home following a threeday visit to South Korea where he attended a summit of the AsiaPacific Economic Cooperation APEC forumThe Chinese leader arrived in South Korea on Thursday for his first visit to the country in 11 years The same day he held a closely watched summit with US President Donald Trump in Busan and the two sides agreed to take steps to ease the trade war between their countries IANS https://dailyworld.in/business/south-korea-china-renew-489-billion-currency-swap-deal-646056.html Sat, 01 Nov 2025 18:10:00 +0530 https://dailyworld.in/business/odisha-takes-a-big-leap-in-chip-manufacturing-with-ground-breaking-ceremony-of-sicsems-unit-646063.html Bhubaneswar Nov 1 As India doubles down on semiconductor manufacturing SiCSem a subsidiary of Archean Chemical Industries Ltd on Saturday lauded the vision and commitment of both the Central and Odisha governments in enabling the semiconductor revolution as the company performed the groundbreaking ceremony of its compound semiconductor fabrication facility at Info Valley here Rajeev Kumar Head of Strategy at Archean Chemical Industries Ltd the parent company of SiCSem said semiconductor manufacturing is one of the most complex and technologyintensive industries in the worldEstablishing such a facility requires longterm vision deep collaboration and strong policy support What we are witnessing today in Odisha is the culmination of that effort and belief he addedRajeev Kumar appreciated the proactive industrial ecosystem of Odisha and the consistent support extended by the governmentWhen we started this journey two years ago we were driven by the idea of contributing meaningfully to Indias semiconductor ambitions Todays milestone at Info Valley reflects the success of that partnership he notedRajeev Kumar further emphasised that the project would create a robust semiconductor value chain in eastern India attract highend investments and provide significant employment and skill development opportunities for local youthWith this Fab and ATMP facility Odisha is poised to play a defining role in Indias semiconductor growth story he saidAccording to Ranjit Pendurthi Managing Director of Archean Chemical Industries Ltd the occasion marks a defining moment not just for our company but for Indias semiconductor ecosystemWe are proud to be a part of this transformative journey envisioned under the leadership of Prime Minister Narendra Modi Odisha with its forwardlooking policies and skilled talent pool offers the perfect environment to build a worldclass facility he mentionedHe highlighted that the project would create advanced technology jobs nurture local talent and position Odisha as a strategic player in Indias electronics and semiconductor revolutionApproved by the India Semiconductor Mission ISM with a capital investment of Rs 2067 crore the compound semiconductor fabrication facility will create 5000 direct and indirect employment opportunities The facility will have an annual capacity of 60000 wafers along with a packaging capacity of 96 million units IANS https://dailyworld.in/business/odisha-takes-a-big-leap-in-chip-manufacturing-with-ground-breaking-ceremony-of-sicsems-unit-646063.html Sat, 01 Nov 2025 18:59:00 +0530 https://dailyworld.in/business/bank-of-baroda-reports-q2-net-profit-of-rs-4-809-crore-improved-asset-quality-646065.html Mumbai Nov 1 Stateowned Bank of Baroda reported a mixed performance in Q2FY26 with an 8 per cent YoY decline in the net profit to Rs 4809 crore despite revenue growth and improved asset quality The net profit dipped 82 per cent YoY from Rs 5238 in Q2 FY25 while it inched up 59 per cent on a quarterly basis The H1FY26 net profit stood at Rs 9351 crore the bank said adding that the operating profit for the quarter was Rs 7576 crore while for the half year it was Rs 15812 croreMeanwhile during the quarter net interest income rose to Rs 11954 crore for the quarter a 45 per cent rise quarteronquarter and reached Rs 23388 crore for the first half of FY26Operating expenses reached Rs 7893 crore for the quarter up 77 per cent YoY Asset quality improved as gross nonperforming assets decreased by 34 basis points YoY to 216 per centBanks Net NPA also reduced by 3 bps YoY and stood at 057 per cent in Q2FY26Global Net Interest Margin NIM for Q2FY26 improves by 5 bps sequentially and stood at 296 per cent while it was at 293 per cent for H1FY26 the statement saidDomestic Net Interest Margin NIM stood at 310 per cent for the quarter with an improvement of 4 bps QoQBanks organic retail advances grew by 176 per cent driven by strong growth across segments such as mortgage loans 198 per cent auto loans 177 per cent home loans 165 per cent education loans 14 per cent and personal loans 186 per centOn a yeartodate basis and a monthly basis the stock has gained 1527 per cent and 711 per cent respectively IANS https://dailyworld.in/business/bank-of-baroda-reports-q2-net-profit-of-rs-4-809-crore-improved-asset-quality-646065.html Sat, 01 Nov 2025 19:01:00 +0530 https://dailyworld.in/business/govt-launches-employee-enrollment-scheme-2025-to-boost-citizen-centric-service-delivery-646079.html New Delhi Nov 1 Union Minister of Labour and Employment Dr Mansukh Mandaviya on Saturday launched the Employee Enrollment Scheme 2025 to enhance citizencentric service delivery The launch took place at Bharat Mandapam in New Delhi on the Employees Provident Fund Organizations 73rd Foundation DayThe scheme effective November 1 seeks to enhance workforce formalisation and promote ease of doing business the Ministry of Labour and Employment saidIt allows employers to avoid remitting the employees share of contribution if not deducted earlier and only nominal penal damages of Rs 100 will apply the Ministry saidMandaviya emphasised that efficiency transparency and empathy must remain the driving forces of EPFOs transformationEvery reform must reach workers in clear and simple terms so that the impact of change is felt directly in their lives the Minister saidThe Union Minister also praised the EPFO for its contribution to social security and urged for reforms focused on efficiency transparency and empathy emphasising that the institution should establish global standards as India aims for Viksit Bharat 2047Ramesh Krishnamurthi Central Provident Fund Commissioner announced that the upcoming EPFO 30 platform will further improve efficiency and accessibility while new initiatives such as simplified withdrawal categories and the Viswas Scheme have eased compliance for employersThrough initiatives such as the Centralised Pension Payment System Aadhaar and Face Authentication and the revamped ECR system EPFO has made significant strides towards seamless technologydriven service delivery he saidVandana Gurnani Secretary Ministry of Labour and Employment emphasised EPFOs transition to a citizencentric organisation and its role in the Prime Ministers Viksit Bharat Rozgar Yojana which aims to create 35 crore new jobsEPFO exchanged MoUs with India Post Payments Bank IPPB for digital life certificate submission and with Government eMarketplace GeM for data sharing the Ministry noted IANS https://dailyworld.in/business/govt-launches-employee-enrollment-scheme-2025-to-boost-citizen-centric-service-delivery-646079.html Sat, 01 Nov 2025 21:21:00 +0530 https://dailyworld.in/business/bengal-smpk-bags-maritime-excellence-award-during-india-maritime-week-646094.html Kolkata Nov 1 Syama Prasad Mookerjee Port Kolkata SMPK the oldest operational Major Port in the country won the Maritime Excellence Award in the Heritage Category during India Maritime Week 2025 This award was presented in recognition of SMPKs longstanding contribution to Indias maritime growth and its rich cultural legacyDespite several constraints including a long and shallow navigation channel to the sea along the River Hooghly the port has been performing extremely well After a phenomenal performance in 202425 SMPK registered the highest cargo traffic among all 12 Major Ports in the country in the first quarter of 202526 Between April and June 2025 the port handled 17186 million metric tonnes of cargo at its two facilities in Kolkata and Haldia This was a growth of 2121 per cent from the cargo handled in the corresponding period of 202425 The award was presented by Sarbananda Sonowal Union minister of ports shipping and waterways and the minister of state Shantanu Thakur Rathendra Raman chairperson and Samrat Rahi deputy chairperson SMPK This recognition added a new gem to SMPKs crown recognising its 155 years of dedicated service tracing its remarkable journey from being a historic maritime gateway of Eastern India to a dynamic forwardlooking port that anchors trade connectivity and economic development of the region Over the decades SMPK has not only strengthened Indias maritime capabilities but also stood as a living testament to the nations industrial and cultural revolution a senior SMPK official noted The port comprises the Kolkata Dock System KDS and the Haldia Dock Complex HDC It also has huge landholdings in Kolkata Howrah and Haldia where several portbased industries and warehouses have come up IANS https://dailyworld.in/business/bengal-smpk-bags-maritime-excellence-award-during-india-maritime-week-646094.html Sat, 01 Nov 2025 21:39:00 +0530 https://dailyworld.in/business/urban-company-sees-rs-593-crore-loss-in-q2-due-to-investments-in-insta-help-646099.html New Delhi Nov 1 Home services provider Urban Company on Saturday announced a net loss of Rs 593 crore in Q2FY26 a significant drop from a profit of Rs 69 crore in the previous quarter The loss was attributed to heavy upfront investments in its new dailyhousekeeping vertical Insta Help which overshadowed strong revenue growth in its core services and products businesses according to regulatory filings by the Gurugrambased firmThe company posted a loss of Rs 182 crore in the JulySeptember quarter last year the company saidWhile revenue from operations increased 37 per cent yearonyear to Rs 380 crore the total expenses rose to Rs 462 crore from Rs 384 crore in Q1 This resulted in adjusted EBITDA turning negative at Rs 35 crore compared with a profit of Rs 21 crore in Q1Insta Help reported an EBITDA loss of Rs 44 crore and excluding this segment Urban Company achieved an adjusted EBITDA profit of Rs 10 crore accounting for 09 per cent of net transaction value NTV the company notedEarly indicators for Insta Help are encouraging with strong consumer adoption and repeat usage the company said in its shareholder letter It added that it believed the segment holds significant longterm opportunity and believes these investments are important to sustaining market leadershipThe company expects its adjusted EBITDA losses to continue in the near term due to further investments in the Insta Help vertical despite its core India and international businesses remaining profitable and cashgeneratingThe companys smart home products vertical Native which sells water purifiers and electronic door locks recorded revenue of Rs 75 crore up 179 per cent YoY while losses narrowed to 9 per cent of NTV from 30 per cent in the previous yearThe home services provider closed the quarter with Rs 2136 crore in cash and equivalents up from Rs 1664 crore in the previous quarter mainly due to proceeds from its recent IPO IANS https://dailyworld.in/business/urban-company-sees-rs-593-crore-loss-in-q2-due-to-investments-in-insta-help-646099.html Sat, 01 Nov 2025 22:43:00 +0530 https://dailyworld.in/business/dhanuka-agritechs-q2-net-profit-falls-20-pc-to-rs-94-crore-645890.html Mumbai Oct 31 Dhanuka Agritech Limited on Friday reported a 20 per cent yearonyear YoY drop in its net profit for the second quarter of the financial year 202526 Q2 FY26 The companys net profit dropped to Rs 94 crore in the September quarter compared with Rs 1175 crore in the same period last fiscal Q2 FY25 according to its stock exchange filingRevenue from operations also declined 86 per cent to Rs 5982 crore from Rs 6543 crore in the yearago quarterEarnings before interest taxes depreciation and amortisation EBITDA fell 144 per cent to Rs 1366 crore from Rs 1596 crore a year earlierThe companys operating margin contracted to 2284 per cent down from 2439 per cent in the previous year as per its regulatory filingFollowing the earnings announcement Dhanuka Agritechs shares fell as much as 72 per cent to an intraday low of Rs 1352 apiece before recovering slightlyAt the closing bell the stock was at Rs 1366 down by Rs 91 or 625 per cent on the National Stock Exchange NSEEarlier this year the agrochemical company said that it was targeting a 1415 per cent revenue growth in FY26 supported by a favourable monsoon and stronger sales in the second quarterThe companys chairman Mahendra Kumar Dhanuka had described the JulySeptember period as crucial for agrochemical consumption as demand typically peaks during these monthsDhanuka Agritech Limited is one of Indias leading agrochemical companies offering a range of herbicides insecticides and fungicidesWith a nationwide presence and a network of over 10 million farmers the company focuses on innovation sustainability and farmer empowermentIt has been recognised by Forbes Asia for its contribution to agriculture and sustainable practices IANS https://dailyworld.in/business/dhanuka-agritechs-q2-net-profit-falls-20-pc-to-rs-94-crore-645890.html Fri, 31 Oct 2025 20:00:00 +0530 https://dailyworld.in/business/from-fast-dispute-resolution-to-digitised-customs-system-cii-calls-for-reforms-in-budget-2026-27-645891.html New Delhi Oct 31 The Confederation of Indian Industry CII on Friday called for comprehensive tax reforms in the Union Budget 202627 including expedition of dispute resolution simplification of TDS regime and digitised customs systems The apex industry body emphasised the need to move towards a compliance system rooted in trust simplicity and technology and accountable for administrative delaysIt recommended that highdemand cases exceeding Rs 100 crore should be fasttracked for resolution within one year through multiple virtual hearings and close CBDT monitoringParallel penalty proceedings should remain suspended until the main appeal is resolved and draft orders should be shared for factual verification before finalisation the statement from the industry body saidCII proposed reviving the authority for advance Rulings as an independent quasijudicial body headed by retired high court judges to issue binding rulings within six monthsThe organisation also called for improvements to returnprocessing software through improved protocols ensuring that only apparent mistakes are adjusted automatically and that taxpayers can request virtual hearings when requiredCII DirectorGeneral Chandrajit Banerjee said that Indias tax system needs to shift from being disputedriven to disputepreventiveThe tax system must ensure that taxation not only raises revenue efficiently but also acts as a catalyst for investment innovation and competitiveness The Budget can be a pivot for a truly modern transparent and globally benchmarked tax regime Banerjee saidFurther CII proposed a reduction of the TDSTCS framework to two or three broad categories exempting transactions between GSTregistered entitiesIndias TDS or TCS framework with over thirtyfive categories and rates ranging from 01 per cent to 30 per cent is overly complex creating reconciliation challenges and liquidity strain the industry body notedFurther it highlighted the need to modernise customs systems and indirect taxes through complete digitalisation of clearance systems via APIbased data exchange IANS https://dailyworld.in/business/from-fast-dispute-resolution-to-digitised-customs-system-cii-calls-for-reforms-in-budget-2026-27-645891.html Fri, 31 Oct 2025 20:02:00 +0530 https://dailyworld.in/business/balkrishna-industries-q2-profit-falls-21-pc-to-rs-273-crore-645911.html Mumbai Oct 31 Balkrishna Industries Limited BKT on Friday reported a 213 per cent yearonyear YoY decline in its net profit to Rs 273 crore for the second quarter of FY26 compared to Rs 347 crore in the same quarter last fiscal Q2 FY25 The companys revenue from operations fell slightly by 11 per cent to Rs 2393 crore against Rs 2419 crore in the yearago period according to its stock exchange filingIts earnings before interest tax depreciation and amortisation EBITDA also dropped 117 per cent to Rs 5116 crore down from Rs 5794 crore a year earlierThe operating margin slipped to 214 per cent from 24 per cent in the corresponding quarter last year reflecting pressure on profitability the company said in its filingThe board of directors declared a second interim dividend of Rs 4 per equity share 200 per cent on a face value of Rs 2 per share for FY202526The Board has declared 2nd interim dividend of Rs 4 per Equity Share 200 per cent on the Equity Shares of Rs 2 each face value for the financial year 202526 the firm said in its filingThe dividend will be credited or dispatched to shareholders within 30 days from the declaration date with November 7 2025 set as the record date as per its regulatory filingThe company said that all its previously announced capital expenditure projects are progressing as plannedOn Friday shares of Balkrishna Industries ended 177 per cent lower at Rs 228550 on the National Stock Exchange NSEHeadquartered in Mumbai Balkrishna Industries is a global manufacturer of OffHighway Tires OHT catering to sectors such as agriculture construction and miningEstablished in 1987 the company operates in more than 160 countries through a strong distribution network and serves both original equipment manufacturers OEMs and the replacement marketBKT has five manufacturing facilities in India located in Waluj Bhiwadi Chopanki Dombivali and Bhuj and subsidiaries in Europe and North AmericaThe company is led by Chairman and Managing Director Arvind Poddar and Joint Managing Director Rajiv Poddar IANS https://dailyworld.in/business/balkrishna-industries-q2-profit-falls-21-pc-to-rs-273-crore-645911.html Fri, 31 Oct 2025 22:12:00 +0530 https://dailyworld.in/business/india-sets-3-guinness-world-records-under-swasth-nari-sashakt-parivar-campaign-645923.html New Delhi Oct 31 India has created history by setting three Guinness world records under the Swasth Nari Sashakt Parivar Abhiyaan Ministry of Health and Family Welfare said on Friday The achievement highlights the countrys strong commitment to preventive healthcare and womens wellbeingThe records include the highest number of people registering for a healthcare platform in one month with more than 321 crore registrationsThe second record was for the most people signing up for breast cancer screening online in a single week with over 994 lakh participantsThe third record was for the most people signing up for vital signs screening online at the state level within a week crossing 125 lakh participantsLaunched by Prime Minister Narendra Modi the campaign ran from September 17 to October 2 coinciding with Poshan MaahIt focuses on improving the health and nutrition of women adolescent girls and children while promoting early disease detection and access to essential health servicesThe initiative also aims to empower families to adopt healthier lifestyles for a stronger and more resilient IndiaPrime Minister Modi emphasised the role of women in building a healthy nation saying Our mothers and sisters are the foundation of our nations progress If a mother is healthy the whole family stays healthyThe campaign achieved an extraordinary reach covering every district in the country It organised over 197 lakh health camps which saw a massive footfall of more than 11 crore people across different healthcare platformsMore than 20 ministries along with central government institutes medical colleges and private organisations took part in this nationwide effort Members of Parliament MLAs and officials from various departments also participated making it a true wholeofgovernment initiativeThe campaign also witnessed remarkable community participation Over 5 lakh Panchayati Raj representatives 114 crore students 94 lakh members of selfhelp groups and 5 lakh members from other community platforms actively contributed making it one of the largest public health movements in the worldThe health impact of the campaign has been significant with 178 crore hypertension screenings 173 crore diabetes tests 695 lakh oral cancer screenings and 626 lakh antenatal care checkups conductedAdditionally 143 crore vaccine doses were administered and 151 crore anaemia tests were carried out More than 859 lakh women were screened for tuberculosis 102 lakh for sickle cell disease and over 214 crore people attended counselling and wellness sessionsThe campaign also registered more than 268 lakh Nikshay Mitras supported by My Bharat volunteers to strengthen Indias fight against tuberculosis IANS https://dailyworld.in/business/india-sets-3-guinness-world-records-under-swasth-nari-sashakt-parivar-campaign-645923.html Fri, 31 Oct 2025 23:28:00 +0530 https://dailyworld.in/business/elon-musks-starlink-begins-hiring-in-india-ahead-of-satellite-broadband-launch-645747.html Mumbai Oct 31 In a significant step toward its highlyanticipated satellite broadband rollout in India SpaceXowned Starlink has started its first round of hiring in the country As part of its hiring campaign the Elon Muskrun company has posted openings for several positions on its LinkedIn and the SpaceX careers portal The positions that the company is inviting applications for are finance and accounting roles including tax manager accounting manager payments manager and senior treasury analyst at Bengaluru the operational centre of Starlink in IndiaAs Starlink expands its global footprint to deliver lowlatency satellite broadband services worldwide its Indian subsidiary is looking to hire an accounting manager to oversee financial reporting and compliance the company stated in its job postingIn order to support Starlinks operations in India the position entails developing and expanding accounting reporting and statutory compliance systems The company has made it clear that there are no remote or hybrid options available only locally based applicants with legitimate work authorisation will be taken into considerationStarlink is hiring in preparation for the commercial launch of its satellite internet services in India in late 2025 or early 2026 In accordance with government regulations the company is now establishing ground infrastructure and carrying out required security trialsTo comply with the Department of Telecommunications DoT requirements for lawful interception and security compliance before spectrum allocation Starlink gave a demonstration of its broadband service to officials in Mumbai earlierAccording to reports the company has also applied for permission to open three gateway stations in Mumbai Chennai and Noida After the launch it intends to open nine to ten more gateway locations including Chandigarh Kolkata and LucknowOnce up and running Starlink will face competition from Jio Satellite and Eutelsat OneWeb both of which have obtained regulatory clearances but are awaiting final spectrum allocationThe frameworks for satellite broadband spectrum pricing and allocation are still being finalised by the DoT and the Telecom Regulatory Authority of India TRAI IANS https://dailyworld.in/business/elon-musks-starlink-begins-hiring-in-india-ahead-of-satellite-broadband-launch-645747.html Fri, 31 Oct 2025 10:52:00 +0530 https://dailyworld.in/business/india-ipo-boom-14-companies-hit-markets-in-october-to-raise-record-rs-46-000-crore-645765.html Mumbai Oct 31 Indias primary market witnessed an unprecedented boom in October marking the busiest month ever for mainboard initial public offerings IPOs with 14 companies hitting the market so far aiming to raise over Rs 46000 crore The month has set a new record for monthly fundraising in the domestic capital markets driven by two heavyweight listings Tata Capital and LG Electronics India which together accounted for more than half of the total fundraisingTata Capital raised Rs 15512 crore while LG Electronics India mobilised Rs 11607 crore through their respective initial share saleAdding to the momentum Lenskart Solutions was set to open its Rs 7278crore issue on October 31 rounding off a packed primary calendar that also featured offerings from WeWork India Canara HSBC Life Insurance Orkla India and Rubicon ResearchThe recordbreaking performance easily eclipsed the previous monthly high of October 2024 when six IPOs had raised Rs 38690 crore The latest figures also surpass earlier peaks seen in November 2021 Rs 35665 crore from nine IPOs November 2024 Rs 31145 crore from eight IPOs and May 2022 Rs 29510 crore from eight IPOsThis milestone underscores the remarkable resilience and liquidity depth of Indias primary market which has remained vibrant despite uneven secondary market sentiment amid global uncertainty according to analystsIn total 89 IPOs have raised over Rs 138 lakh crore so far in 2025 making it one of the strongest years on record and only slightly behind 2024 when total fundraising crossed Rs 16 lakh crore With still two more months to go the previous record is most likely to be passed as many IPOs are in line to hit the primary market in November and DecemberAccording to market watchers the rush of new listings reflects both robust investor confidence and companies eagerness to capitalise on strong demand before yearend IANS https://dailyworld.in/business/india-ipo-boom-14-companies-hit-markets-in-october-to-raise-record-rs-46-000-crore-645765.html Fri, 31 Oct 2025 11:37:00 +0530 https://dailyworld.in/business/predefined-data-parameter-triggered-4-hour-trading-disruption-mcx-645772.html Mumbai Oct 31 The primary root cause for the disruption which halted trading for four hours on Multi Commodity Exchange MCX this week happened due to predefined parameter limits relating to reference data like unique client code UCC configured within the systems the commodity trading platform said in a statement on Friday The UCC led to constraints beyond the threshold The platform said that they have addressed the constraints to prevent such issues in the futureThe primary root cause has been identified as a predefined parameter limit relating to reference data like Unique Client Code UCC configured within the systems This led to constraints beyond the threshold We have taken steps to address the constraints to prevent similar issues in the future Notably trading systems have not had issues MCX said in a statementAccording to the exchange trading systems have not had issues as the exchange systems are wellpositioned to support market volumes and growthWe remain committed to strengthening our operational robustness and will continue investing in cuttingedge technology to enhance performance reliability and scalability ensuring that we meet the evolving needs of our members participants and stakeholders the statement addedWe sincerely thank our members participants and all stakeholders for their continued support cooperation understanding and valuable assistance during the incident and we deeply appreciate your ongoing trust and partnership the statement addedTrading on MCX was disrupted for more than four hours on Tuesday due to a technical glitch marking the longestever trading halt in the platforms historyTrading activities were delayed from 930 am after a system issue was detected Later the exchange shifted operations to its Disaster Recovery DR site with trading resuming at 125 pmThis marks the second instance in 2025 when the countrys largest commodity exchange has faced a major technical outage raising concerns about the robustness of its trading infrastructure IANS https://dailyworld.in/business/predefined-data-parameter-triggered-4-hour-trading-disruption-mcx-645772.html Fri, 31 Oct 2025 12:12:00 +0530 https://dailyworld.in/business/china-eastern-airlines-to-increase-shanghai-delhi-flight-frequency-from-january-2026-645792.html New Delhi Oct 31 China Eastern Airlines on Friday announced that it will increase its direct flights between Shanghai Pudong and New Delhi from three to five per week starting January 2 2026 due to strong demand from the Indian market The flight from Delhi MU564 will depart at 1955 arriving in Shanghai at 410 the following day Flight MU563 from Shanghai Pudong will depart at 1250 pm and arrive in New Delhi at 1745 local time the carrier informed in a statementThe flights will be available on Monday Wednesday Friday Saturday and Sunday It will be operated by Airbus A330200 widebody aircraft featuring 17 lieflat MINPRO businessclass seats and 245 economyclass seats for commercial bookingInterGlobe Air Transport will manage all the airlines commercial and operational functions including sales marketing ticketing and supportThe airline plans to introduce additional routes to India including KunmingKolkata and Shanghai PudongMumbai the company said adding that increased flight frequency will enhance bilateral trade tourism education and cultural and technological exchangesWith China Easterns Shanghai Pudong serving as a major international hub travellers can connect to major cities across mainland China and onwards to destinations in North America Japan South Korea and EuropeChina Eastern Airlines had earlier announced the resumption of flights on its India route with flights between Shanghai and Delhi starting from November 9 after a fiveyear pauseAccording to travel data provider OAG the two countries operated around 2588 scheduled flights in 2019 before services were suspendedMeanwhile China this week extended a warm welcome to an IndiGo Airlines flight carrying 180 passengers from Kolkata West BengalIndiGo Airlines which landed in Guangzhou on Monday marked the first direct flight between the countries after 2020Earlier IndiGo also announced new daily direct flights between New Delhi and Chinas Guangzhou starting November 10 IANS https://dailyworld.in/business/china-eastern-airlines-to-increase-shanghai-delhi-flight-frequency-from-january-2026-645792.html Fri, 31 Oct 2025 13:23:00 +0530 https://dailyworld.in/business/sebi-increases-bank-nifty-constituents-caps-top-stocks-weight-645804.html New Delhi Oct 31 Market regulator Securities and Exchange Board of India SEBI has expanded the number of constituents and capped the weights of top constituents in nonbenchmark indices such as the NSEs Bank Nifty The new norms were implemented to reduce concentration risk and ensure broader balanced market representation according to market regulatorThe index will now require a minimum of 14 constituents an increase from the current 12 The weight of the top constituent will be limited to 20 per cent reduced from 33 per cent Additionally the combined weight of the top three constituents cannot exceed 45 per cent down from 62 per centSEBIs new norms will also rejig BSEs Bankex and NSEs FinNifty indices by adjusting the weights of individual stocks within these indicesRegarding Bank Nifty the heavyweights HDFC Bank ICICI Bank and State Bank of India will see their weights reduced gradually in four tranches concluding on March 31 2026The first adjustment in Bank Nifty is set for December 2025 followed by three additional rebalancingsThe new norms for derivatives on nonbenchmark indices aim to mitigate risk for investors and funds according to the regulatorThe compliance with prudential norms may be implemented through constituent or weight adjustment in a single tranche for the two indices Bankex and FinNifty the statement saidThe effective date for implementation of eligibility criteria for derivatives Bankex and FinNifty has been revised to December 31 2025In each adjustment the weight of the top three constituents would be checked and if the weights are beyond the prudential norms the excess would be targeted for reduction equally over the remaining tranches the market regulator saidThe Bank Nifty constituents include IDFC First Bank Canara Bank Punjab National Bank Federal Bank Bank of Baroda State Bank of India AU Small Finance Bank Axis Bank IndusInd Bank HDFC Bank ICICI Bank and Kotak Mahindra Bank IANS https://dailyworld.in/business/sebi-increases-bank-nifty-constituents-caps-top-stocks-weight-645804.html Fri, 31 Oct 2025 14:16:00 +0530 https://dailyworld.in/business/indias-reits-market-likely-to-touch-rs-197-lakh-crore-by-2030-report-645806.html New Delhi Oct 31 Indias REIT real estate investment trust market is projected to reach Rs 197 lakh crore by 2030 from Rs 104 lakh crore in 2025 driven by high occupancy favourable taxation and broader sectoral inclusion according to a report released on Friday Private equity participation rising from 500 million in 2011 to multibilliondollar highs by 2019 has enhanced transparency deepened institutional confidence and paved the way for REIT expansion across Indias thriving commercial real estate landscapeAs urbanisation technology and progressive policy reforms continue to reshape the sector Indias commercial real estate stands poised to unlock the next wave of opportunity across asset classes according to the report by Knight Frank India in collaboration with the Confederation of Indian Industry CIIRetail consumption across the organised formats is estimated at a value of Rs 88 lakh crore for FY 2025 Led by shopping centres Rs 49 lakh crore high streets Rs 38 lakh crore and other newage formats such as airport and transit retail This expansion reflects a clear shift toward experiencedriven consumercentric destinations where shopping intersects with lifestyle and leisure according to the reportIndias office market stock surpasses 1 billion square feet ranking as the fourth largest globally it statesIndias REITs have a potential to diversify beyond traditional asset classes like office retail and warehousing to industrial parks data centres and hospitality Listed REITs have delivered stable average annual dividend yield of about 55 per cent making them attractive incomegenerating vehicles the report statesBy 2030 Indias REIT market including office retail and warehousing sectors is projected to reach Rs 197 lakh crore India currently has five listed REITs covering about 177 million sq ft of commercial and retail space spanning operational underconstruction and upcoming assets worth approximately Rs 23 lakh crore with over 290000 unitholdersIndias commercial real estate CRE transformation is being led by businesses that are more global technologydriven and experiencefocused than ever before Consolidation in office demand resilient retail growth and the rapid expansion of digital infrastructure have fundamentally reshaped occupier behaviour said Shishir Baijal Chairman and Managing Director Knight Frank IndiaToday companies want efficient green futureready spaces and capital markets are rewarding that shift As India heads toward a 7 trillion economy CRE will play an essential role in powering productivity attracting investment and building nextgeneration urban centres he mentionedREIT investment allows individuals to buy shares in companies that own operate or finance incomeproducing real estate similar to investing in mutual funds Investors can earn money through dividends from rental income and potential capital appreciation without the responsibilities of managing properties directly IANS https://dailyworld.in/business/indias-reits-market-likely-to-touch-rs-197-lakh-crore-by-2030-report-645806.html Fri, 31 Oct 2025 14:17:00 +0530 https://dailyworld.in/business/emkay-globals-profit-plunges-98-pc-in-q2-revenue-slips-nearly-34-pc-645811.html Mumbai Oct 31 Emkay Global Financial Services on Friday posted a net profit of just Rs 045 crore in the September quarter Q2 FY26 compared with Rs 2590 crore in the same period last fiscal Q2 FY25 marking a steep 98 per cent yearonyear YoY decline Revenue from operations dropped nearly 34 per cent to Rs 7208 crore from Rs 10856 crore in Q2 FY25 according to its stock exchange filingOn a sequential basis revenue remained largely stable compared with Rs 7297 crore in the previous quarter though profit fell from Rs 478 crore in Q1 FY26Total expenses during the quarter stood at Rs 7675 crore lower than Rs 8338 crore a year ago the company informed in its regulatory filingOn Friday shares of Emkay Global were trading at Rs 314 up by Rs 515 or 167 per cent during the intraday trading sessionOver the past five days the stock has fallen by Rs 5 or 156 per cent In the last one month it has slipped Rs 099 or 031 per cent while over six months it has gained Rs 11099 or 5440 per centOn a yeartodate YTD basis the stock is up Rs 567 or 184 per cent but over the past one year it has declined Rs 3753 or 1353 per centEstablished in 1995 and headquartered in Mumbai Emkay Global Financial Services is a diversified financial services firm It offers a wide range of services including institutional and retail broking investment banking portfolio and wealth management and research The company has also diversified into currency and commodity broking and acts as a depository participantEmkay operates through several subsidiaries such as Emkay Investment Managers Limited Emkay Fincap Limited Emkay Commotrade Limited and Emkay Insurance Brokers LimitedIt expanded internationally in 2021 with the launch of its Singaporebased arm Emkay Global Financial Services Pte LimitedThe firm serves a broad client base that includes foreign institutional investors domestic mutual funds banks corporates and highnetworth individuals IANS https://dailyworld.in/business/emkay-globals-profit-plunges-98-pc-in-q2-revenue-slips-nearly-34-pc-645811.html Fri, 31 Oct 2025 14:49:00 +0530 https://dailyworld.in/business/gst-reforms-festive-season-drive-upi-payments-stimulate-private-consumption-645815.html New Delhi Oct 31 The spending through unified payments interface UPI during the festival period Dussehra to Diwali increased to Rs 178 lakh crore up from Rs 151 lakh crore from the previous year a report said on Friday In September UPI witnessed a seasonally unadjusted monthonmonth MoM increase of 26 per cent in value terms the report from Bank of Baroda saidThe UPI saw 31 per cent transaction count growth yearonyear at 1963 billion in the month of September with 21 per cent growth in transaction amount at Rs 2490 lakh crore the National Payments Corporation of India NPCI data showed Monthwise too UPI witnessed a growth in transaction amount from Rs 2485 lakh crore in AugustPayments data for the DussehratoDiwali period showed that the total value of UPI debit and credit card payments reached approximately Rs 188 lakh crore from 164 lakh crore in the previous yearThe GST 20 stimulus aligned with the festival period is expected to boost household spending and has coincided with a significant increase in digital retail payments indicating a revival in consumption the report saidThe government estimates that the GST cut could increase consumer spending by approximately Rs 20 lakh crore the bank mentionedThe payment in value terms through debit card during this festival month went to Rs 65395 crore up from Rs 27566 crore the previous year In contrast credit card values reflected more cautious usage during the same period the bank saidDuring the festive period average spending per transaction for UPI was Rs 1052 whereas for debit card it was Rs 8084 and for credit card at Rs 1932 Bank of Baroda saidSmall to midvalued segment of consumption demand is likely to get a fillip looking at the spending statistics the bank projectedMerchantlevel UPI data for September indicated over 50 per cent growth in average spend per transaction for mens and womens clothing package shops beer wine and liquor online marketplaces electronics beauty and barber shopsWe expect private consumption demand to report a buoyant print in Q2 The trend will also persist in Q3 the bank forecasted IANS https://dailyworld.in/business/gst-reforms-festive-season-drive-upi-payments-stimulate-private-consumption-645815.html Fri, 31 Oct 2025 14:51:00 +0530 https://dailyworld.in/business/global-brokerages-stay-bullish-on-adani-power-after-strong-q2-raise-price-targets-up-to-rs-195-645821.html Ahmedabad Oct 31 Global brokerage firms remain upbeat on Adani Power Limited APL following its strong operational performance in the September quarter Q2 FY26 with Morgan Stanley Jefferies and Cantor Fitzgerald all maintaining positive views and raising their price targets on the stock on Friday Morgan Stanley reiterated its Overweight rating on Adani Power with an industry view of InLine and set a price target of Rs 16360 implying a modest 1 per cent upside from the October 30 closing price of Rs 16257The brokerage highlighted the companys strong project execution pipeline and healthy receivables positionJefferies meanwhile retained its Buy rating and sharply increased its price target to Rs 195 from Rs 138 earlier implying a 20 per cent upsideThe brokerage said Adani Power deserves a valuation premium to staterun NTPC due to its significantly higher margins and growth rates noting that its PE multiple trades at an 80 per cent premium to NTPCs 10xSimilarly Cantor Fitzgerald also maintained an Overweight stance and raised its price target by 32 per cent to Rs 184 citing the companys expanding power purchase agreements PPAs and strong earnings visibilityAdani Powers latest earnings call revealed that its new PPA bidding pipeline now stands at around 22 GW with 145 GW already awarded The company is currently L1 in a 32 GW Assam thermal bid while bids for Rajasthan 32 GW and Uttarakhand 13 GW are in progressMeanwhile earlier this week Adani Power reported a steady financial performance for the quarter with consolidated revenue at Rs 13106 crore and EBITDA at Rs 6001 crore as well as a 74 per cent increase in power sale volumes despite monsoonrelated disruptionsThe companys management reiterated its focus on expanding its total capacity to 42 GW by 203132 underscoring confidence in Indias growing electricity demand and Adani Powers leadership position in the sectorOur strong profitability and liquidity position us well to achieve our enhanced capacity expansion goal of 42 GW by 203132 We have already arranged ordering for equipment and land for the entire 237 GW expansion with project implementation progressing rapidly said SB Khyalia CEO Adani Power Limited on October 30 IANS https://dailyworld.in/business/global-brokerages-stay-bullish-on-adani-power-after-strong-q2-raise-price-targets-up-to-rs-195-645821.html Fri, 31 Oct 2025 15:23:00 +0530 https://dailyworld.in/business/maruti-suzuki-indias-q2-net-profit-rises-8-pc-revenue-up-13-pc-645830.html New Delhi Oct 31 Maruti Suzuki India Limited the countrys largest carmaker on Friday reported a 794 per cent rise in its consolidated net profit to Rs 3349 crore for the September quarter Q2 FY26 driven by higher vehicle sales and strong demand momentum The company had posted a net profit of Rs 31025 crore in the same period last fiscal Q2 FY25 according to its stock exchange filingOn a standalone basis the automaker reported a 73 per cent increase in profit after tax PAT to Rs 32931 crore from Rs 30692 crore a year earlierThe companys total revenue from operations rose 13 per cent yearonyear YoY to Rs 42344 crore in the JulySeptember quarter compared with Rs 37449 crore a year agoAt the operational level Maruti Suzukis earnings before interest tax depreciation and amortisation EBITDA stood at Rs 4434 crore slightly higher than Rs 4417 crore a year earlierHowever the EBITDA margin declined to 105 per cent from 119 per cent due to higher input costs and competitive pricing pressuresDespite the earnings improvement shares of Maruti Suzuki India were trading marginally lower at Rs 16167 on the NSE down 024 per cent from the previous closeEarlier this month the company said its production rose 26 per cent yearonyear in September 2025 to 201915 units supported by higher market demand and new model launchesProduction of utility vehicles such as the Brezza Ertiga and Fronx saw a 27 per cent increase while compact models like the Baleno Swift and Dzire also recorded strong output growthAs the Indian automobile sector enters the second half of FY26 analysts expect a steady performance supported by festive demand GST rate cuts rural recovery and new launchesAxis Securities recently noted that while twowheelers and commercial vehicles are witnessing strong momentum passenger vehicle sales could see high singledigit growth in the coming months IANS https://dailyworld.in/business/maruti-suzuki-indias-q2-net-profit-rises-8-pc-revenue-up-13-pc-645830.html Fri, 31 Oct 2025 15:58:00 +0530 https://dailyworld.in/business/govt-launches-marine-fisheries-census-2025-in-fully-digital-mode-645839.html New Delhi Oct 31 Union Minister of State for Fisheries Animal Husbandry and Dairying George Kurian on Friday launched the National Marine Fisheries Census MFC 2025 in Kochi moving the marine fishing sector from paperbased to fully digital household enumeration The minister also launched the VyASBHARAT and VyASSUTRA mobile applications at the event which will be used for conducting the censusThe census will digitally enumerate approximately 12 million fisher households in around 5000 marine villages across 13 coastal states and union territories including the Andaman amp Nicobar Islands and Lakshadweep said the Ministry of Fisheries Animal Husbandry amp DairyingThe census will be a householdlevel enumeration of fishers fishing crafts gears and infrastructure across over 1200 landing centres 50 fishing harbours jetties markets and processing plants with the help of specially designed mobilebased applicationsThe entire enumeration will be fully digital and paperless the ministry said adding that it will be conducted using multilingual Android apps developed by the ICARCentral Marine Fisheries Research InstituteCore household data collection will take place over 45 days from November 3 to December 18This digital approach enables realtime georeferenced data collection eliminating manual errors and significantly accelerating data processing the Ministry saidVyASSUTRA will enable realtime supervision and monitoring of households and enumerators through multitier web dashboards ensuring accountability across all levels of census managementThe scope of the MFC2025 has been significantly expanded to capture a deep granular understanding of the socioeconomic status of the coastal population ensuring future government interventions are more precise and impactful the Ministry saidAt the event Kurian also urged the fishermen and fish farmers to register on the NFDP portal to avail benefits from the governmentMFC2025 aims to broaden data collection to include total family income homeownership liabilities credit sources insurance status pandemic impacts and benefits from programmes like PMMKSSY IANS https://dailyworld.in/business/govt-launches-marine-fisheries-census-2025-in-fully-digital-mode-645839.html Fri, 31 Oct 2025 16:35:00 +0530 https://dailyworld.in/business/sam-altman-says-hes-still-waiting-for-his-tesla-after-75-years-seeks-refund-645842.html New Delhi Oct 31 OpenAI founder and CEO Sam Altman on Friday claimed that he has been waiting more than seven years for a Tesla car he booked and still hasnt received it Altman said he paid 45000 as a reservation fee for the electric vehicle but has now decided to ask for a refund from the Elon Muskled companyIn a post on social media platform X Altman shared three screenshots showing his email exchanges with TeslaThe first screenshot confirmed his booking while the second showed his email asking Tesla to cancel the order and issue a refundHowever the third screenshot revealed that his refund request email bounced back displaying an address not found error messageSharing the screenshots Altman captioned the post A tale in three acts He added in a followup comment I really was excited for the car And I understand delays But 75 years has felt like a long time to waitThe post quickly went viral attracting thousands of reactions and comments Among them was a playful response from Altmans brother Jack AltmanIn a lighthearted tease Jack shared Sams photo with a quote reading Whether we burn 500 million 5 billion or 50 billion a year I dont care and joked You cant be worrying about 50k like thisSam replied to his brothers comment with humour writing little brother energy is the WORSTHowever Tesla has not yet commented on Altmans post Meanwhile the Elon Muskrun firm started delivering standard Model Y to its customers in India last monthThe electric vehicle maker announced that the delivery of the Long Range variant is going to commence soon in the countryIt also announced that the new Model Y owners will be provided with a complimentary Wall Connector allowing convenient installation in their parking space for easy home charging IANS https://dailyworld.in/business/sam-altman-says-hes-still-waiting-for-his-tesla-after-75-years-seeks-refund-645842.html Fri, 31 Oct 2025 16:39:00 +0530 https://dailyworld.in/business/gst-officials-bust-about-rs-3195-crore-input-tax-credit-fraud-in-delhi-one-held-645846.html New Delhi Oct 31 Central GST officials have busted a Rs 3195 crore scam in the national capital involving a company that was fraudulently availing Input Tax Credit ITC based on fake invoices The director of the company has been arrested according to an official statement issued on Friday The antievasion branch of CGST Delhi South Commissionerate unearthed a largescale case of fraudulently availing ITC Director of the company has been arrested for orchestrating the evasion of Goods and Services Tax GST of approximately Rs 3195 crore and produced before the competent judicial authority which has remanded him to judicial custody of 14 days the statement saidThe investigation revealed that the company is actively engaged in availing fraudulent Input Tax Credit solely on the basis of invoices without any underlying supply of goods or servicesActing on specific intelligence developed by the antievasion wing an investigation was initiated into a suspicious supply chain The inquiry revealed that the firm had fraudulently availed ITC without any actual movement of goods Further investigation established that the firm had availed and passed on ineligible ITC from fictitious and nonexistent firms in gross violation of the provisions of the CGST Act 2017 the statement saidThis case forms part of the broader initiative undertaken by the CGST Delhi South Commissionerate to unearthed fraud ITC case that lead to significant revenue leakage and undermine fair market practices The department is leveraging data analytics and supply chain mapping tools to proactively identify and disrupt such fraudulent activities the statement addedMeanwhile the number of ITC fraud cases detected by Central GST formations in the last three years has more than doubled from 7231 in 202223 involving an amount of Rs 24140 crore to 15283 cases in 202425 involving a sum of Rs 58772 crore according to information tabled in Parliament recentlyThe government has taken proactive steps to prevent and tackle the fraudulent cases of claiming ITC which include allowing input tax credit only for invoices or debit notes which have been furnished by the supplier in FORM GSTR1 and details of which have been communicated to the registered person in FORM GSTR2BAs part of these steps a registered person is not allowed to furnish FORM GSTR1 if he has not furnished return in FORM GSTR3B for the preceding tax period according to the government IANS https://dailyworld.in/business/gst-officials-bust-about-rs-3195-crore-input-tax-credit-fraud-in-delhi-one-held-645846.html Fri, 31 Oct 2025 16:42:00 +0530 https://dailyworld.in/business/gst-officials-bust-rs-3195-crore-input-tax-credit-fraud-in-delhi-one-held-645847.html New Delhi Oct 31 Central GST officials have busted a Rs 3195 crore scam in the national capital involving a company that was fraudulently availing Input Tax Credit ITC based on fake invoices The director of the company has been arrested according to an official statement issued on Friday The antievasion branch of CGST Delhi South Commissionerate unearthed a largescale case of fraudulently availing ITC Director of the company has been arrested for orchestrating the evasion of Goods and Services Tax GST of approximately Rs 3195 crore and produced before the competent judicial authority which has remanded him to judicial custody of 14 days the statement saidThe investigation revealed that the company is actively engaged in availing fraudulent Input Tax Credit solely on the basis of invoices without any underlying supply of goods or servicesActing on specific intelligence developed by the antievasion wing an investigation was initiated into a suspicious supply chain The inquiry revealed that the firm had fraudulently availed ITC without any actual movement of goods Further investigation established that the firm had availed and passed on ineligible ITC from fictitious and nonexistent firms in gross violation of the provisions of the CGST Act 2017 the statement saidThis case forms part of the broader initiative undertaken by the CGST Delhi South Commissionerate to unearthed fraud ITC case that lead to significant revenue leakage and undermine fair market practices The department is leveraging data analytics and supply chain mapping tools to proactively identify and disrupt such fraudulent activities the statement addedMeanwhile the number of ITC fraud cases detected by Central GST formations in the last three years has more than doubled from 7231 in 202223 involving an amount of Rs 24140 crore to 15283 cases in 202425 involving a sum of Rs 58772 crore according to information tabled in Parliament recentlyThe government has taken proactive steps to prevent and tackle the fraudulent cases of claiming ITC which include allowing input tax credit only for invoices or debit notes which have been furnished by the supplier in FORM GSTR1 and details of which have been communicated to the registered person in FORM GSTR2BAs part of these steps a registered person is not allowed to furnish FORM GSTR1 if he has not furnished return in FORM GSTR3B for the preceding tax period according to the government IANS https://dailyworld.in/business/gst-officials-bust-rs-3195-crore-input-tax-credit-fraud-in-delhi-one-held-645847.html Fri, 31 Oct 2025 16:42:00 +0530 https://dailyworld.in/business/sensex-nifty-end-lower-as-broad-based-selling-drags-markets-645849.html Mumbai Oct 31 The benchmark Indian equity indices ended lower on Friday marking a weak close to the week as selling pressure was seen across most sectors The Sensex fell 46675 points or 055 per cent to close at 8393871 while the Nifty declined 15575 points or 060 per cent to end at 2572210Price action suggests that while bulls have temporarily lost momentum the broader structure remains intact as long as Nifty sustains above 25660 analysts saidA decisive close below this level could trigger further downside toward 2540025250 whereas a rebound and sustained move above 26000 will likely reestablish bullish momentum paving the way for a move toward 2615026300 they addedLosses were broadbased with most Sensex stocks finishing in the red Only a handful of heavyweights including BEL Larsen amp Toubro TCS ITC and State Bank of India managed to stay positiveOn the other hand major laggards such as NTPC Kotak Mahindra Bank Bajaj Finserv ICICI Bank and HDFC Bank dropped sharply with some counters losing up to 345 per centThe weakness was also visible in the broader markets The Nifty Midcap 100 index slipped 045 per cent while the Nifty Smallcap 100 declined 048 per centAmong sectoral indices only Nifty PSU Bank and Nifty Oil amp Gas managed to post gains of 15 per cent and 007 per cent respectivelyAll other sectors ended in negative territory with Nifty Metal and Nifty Media emerging as the worst performers each plunging over 1 per centAnalysts said that investors stayed cautious amid weak global cues and profitbooking ahead of the weekend leading to a broadbased decline across the marketIndian equities ended decisively lower after a volatile session as investors booked profits amid mixed corporate earnings and cautious global sentiment in the backdrop of a strong greenback market watchers statedMost sectors closed in the red pressured by renewed FII selling which have turned cautious after Powells hawkish statement and USChina trade development did not meet expectations they addedBuy on dips is expected to stay as a trading strategy as optimism remain solid on a QoQ basis as per the experts IANS https://dailyworld.in/business/sensex-nifty-end-lower-as-broad-based-selling-drags-markets-645849.html Fri, 31 Oct 2025 16:44:00 +0530 https://dailyworld.in/business/indian-register-of-shipping-and-neptunus-to-pioneer-1st-indigenous-marine-engine-condition-monitoring-tech-645851.html Mumbai Oct 31 In a landmark step for Indias maritime ecosystem and a stride toward Atmanirbhar Bharat and Viksit Bharat Neptunus Power Plant Services and Indian Register of Shipping IRS signed a Memorandum of Understanding MoU on Friday at Maritime India Week 2025 to mainstream datadriven maintenance and digital diagnostics across Indias shipping industry Through this MoU IRS and Neptunus have joined forces to advance the worlds firstever datadriven conditionbased maintenance for Indias maritime sectorAs part of the agreement IRS has awarded Type Approval Certification to Neptunus for its VIB 360 engine condition monitoring system and torque sense SHAPOLI marking the worlds first instance of indigenously developed IRScertified conditionmonitoring technologies for marine diesel engines and propulsion systemsThe certification demonstrates Indias capability to deliver globally compliant exportready maritime solutions built entirely at home according to an official statementTraditionally ship maintenance followed fixed OEM intervals conservative and costlyWith VIB 360 fleets shift to conditionbased maintenance CBM thereby eliminating unplanned downtime enhancing reliability reducing maintenance costs by up to 30 per cent based on previous experience optimising fuel efficiency and thus reducing emissionsThis shift from timebased to datadriven maintenance represents a foundational step in Indias Digital Maritime Vision enhancing operational reliability reducing downtime and cutting carbon emissions through precision diagnostics the statement saidWe thank the IRS for its vision and trust in Indian innovation This Type Approval is more than a certification it validates Indias capability to design and deliver dataled maritime technologies that meet global standards said Uday Purohit MD and CEO Neptunus Power Plant Services Pvt LtdTogether we are paving the way for Indianbuilt systems to enhance safety efficiency and operational reliability across the worlds shipping fleets he addedUnder the MoU IRS and Neptunus will jointly develop frameworks and standards for CBM to help the maritime industry transition from traditional timebased maintenance to realtime dataled maintenance practicesThe collaboration aims to enhance operational reliability reduce maintenance costs and contribute to Indias green shipping and digital maritime visionAkshay Purohit Director and COO said This MoU is a step toward making conditionbased maintenance a mainstream reality in Indias maritime sector By combining local innovation with datadriven insights we are creating a framework that can reduce downtime improve fuel efficiency and extend asset life IANS https://dailyworld.in/business/indian-register-of-shipping-and-neptunus-to-pioneer-1st-indigenous-marine-engine-condition-monitoring-tech-645851.html Fri, 31 Oct 2025 16:45:00 +0530 https://dailyworld.in/business/paddy-procurement-in-eastern-up-to-begin-from-tomorrow-645863.html Lucknow Oct 31 Under the kharif marketing year 202526 paddy procurement in eastern Uttar Pradesh will begin on November 1 and continue until February 28 2026 During this period procurement will also take place in Unnao Raebareli and Lucknow districtsPaddy procurement has been underway since October 1 in Western Uttar Pradesh as well as in the Hardoi Lakhimpur Kheri and Sitapur districts of the Lucknow DivisionThe doubleengine government has increased the Minimum Support Price MSP of paddy this year The MSP for paddy Common has been fixed at Rs 2369 per quintal and for paddy Grade A at Rs 2389 per quintal More than 217 lakh farmers have registered themselves to sell their produce within two monthsThe regions in Eastern Uttar Pradesh which will see paddy procurement commencing from November 1 include Chitrakoot Kanpur Ayodhya Gorakhpur Devipatan Basti Azamgarh Varanasi Mirzapur and Prayagraj Additionally in the Lucknow division procurement will commence in Lucknow Raebareli and Unnao on November 1 and will continue until February 28 2026As of October 31 217625 farmers have registered In Western Uttar Pradesh more than 17000 farmers have already sold over 106 lakh metric tonnes of paddy within a monthAlso the procurement picked up pace after Chief Minister Yogi Adityanaths instructions and 3920 purchase centres were opened Farmers must register themselves on the Food and Civil Supplies Departments website fcsupgovin or through the UP KISAN MITRA mobile appAccording to the Food and Civil Supplies Department farmers can contact the tollfree helpline at 18001800150 or reach out to their district food marketing officer tehsil regional marketing officer or block marketing inspector for assistance or informationThe CM Yogi Adityanath government has directed the officials to ensure that farmers receive payment within 48 hours IANS https://dailyworld.in/business/paddy-procurement-in-eastern-up-to-begin-from-tomorrow-645863.html Fri, 31 Oct 2025 17:24:00 +0530 https://dailyworld.in/business/pakistan-stock-markets-continue-to-bleed-plunges-over-1-600-points-645869.html New Delhi Oct 31 Pakistans benchmark stock market index the KSE100 has suffered a sharp fall of over 1600 points amid rising geopolitical tensions and disappointing corporate results The index closed at 158465 reflecting widespread selling pressure as investors reacted to growing uncertainty in the economy and the region according to The Express TribuneMarket experts said the decline was mainly driven by concerns over strained relations between Pakistan and the Taliban along with weakerthanexpected earnings from major listed companiesTrading sentiment remained subdued throughout the session with most sectors ending in the redOut of 340 traded companies 233 saw their share prices fall 93 gained and 14 remained unchangedHeavy selling was witnessed in key sectors such as banking cement and energyLeading bluechip stocks including Lucky Cement United Bank Limited and MCB Bank dragged the market down while National Bank of Pakistan provided some support after reporting strong quarterly profitsTrading activity also weakened with turnover dropping to 951 million shares worth PKR 413 billionKElectric Hascol Petroleum and WorldCall Telecom were among the most actively traded stocks according to data from Business RecorderAnalysts said the absence of positive economic triggers and continued political instability have made investors hesitant to take new positionsThey warned that the ongoing uncertainty could further dampen investor confidence and reduce foreign inflowsExperts urged the government to bring policy stability and take steps to restore trust in the market noting that volatility is likely to continue until clearer economic direction emergesMeanwhile local media on Friday reported that Pakistans capital Islamabad and the province of Punjab have been named as the most dangerous places for journalists in the country as violations against the media increased by around 60 per cent in 2025 IANS https://dailyworld.in/business/pakistan-stock-markets-continue-to-bleed-plunges-over-1-600-points-645869.html Fri, 31 Oct 2025 18:07:00 +0530 https://dailyworld.in/business/narayana-healths-uk-expansion-shows-bharats-growing-capabilities-piyush-goyal-645870.html New Delhi Oct 31 Narayana Healths acquisition of a UK hospital is a proud moment for India and also reflects Bharats growing capabilities said Union Commerce Minister Piyush Goyal on Friday The Bengalurubased Narayana Health has acquired UKbased Practice Plus Group Hospitals which operates 12 hospitals and surgical centres specialising in highquality orthopaedics ophthalmology and general surgeryProud moment for India as our healthcare delivery system continues to strengthen its global presence With Narayana Health Bengalurubased healthcare providers acquiring the UKbased Practice Plus Group Hospitals the expansion underscores Bharats growing capabilities and excellence in providing worldclass medical care said Goyal in a post on social media platform XLauding the Groups Chairman Dr Devi Prasad Shetty for the milestone Goyal said the achievement will further propel our healthcare ecosystem to scale new frontiers globallyPM Narendra Modi jis vision and progressive policies are giving a new fillip to Indias healthcare ecosystem he addedKiran MazumdarShaw Executive Chairperson of Biocon also lauded the acquisitionTaking the affordable care model to the UK a potential game changer she added on XLast month Biocon also announced the first US FDAapproved formulations facility in New Jersey US The company had acquired the plant from Eywa Pharma in 2023Meanwhile the total consideration for the acquisition by Narayana Health reportedly is GBP 18878 million for the 100 per cent stake which comprises 60001 equity shares of face value of GBP 002 each of Practice Plus Group Hospitals The per share price for the acquisition will be GBP 314629 as per reportsThe acquisition will offer a new choice of more accessible private healthcareand help many more patients get the help they need said Dr Devi Prasad Shetty Founder and Chairman of Narayana Health IANS https://dailyworld.in/business/narayana-healths-uk-expansion-shows-bharats-growing-capabilities-piyush-goyal-645870.html Fri, 31 Oct 2025 18:08:00 +0530 https://dailyworld.in/business/india-africa-strengthens-partnerships-in-critical-minerals-sector-report-645873.html New Delhi Oct 31 India has taken concrete steps to transform Africas mineral wealth into industrial strength ensuring inclusive prosperity a report said on Friday At the 20th CII IndiaAfrica Business Conclave India emphasised the need for collaborative partnerships with African nations regarding critical minerals stating that these resources belong first and foremost to Africa a report from Independent Online IOL saidSevala Naik Mude Additional Secretary for Indias Ministry of External Affairs highlighted that Indias approach is collaborative rather than extractive adding that it is focused on local industrialisation and job creation rather than mere extraction of critical mineral resourcesIndia extended preferential access for African exports processed and unprocessed through the DutyFree Tariff Preference Scheme the report notedMude emphasised the need for a greater focus on joint ventures local processing facilities and manufacturing partnerships that can generate greater longterm valueBy sharing best practices aligning policies building industries and developing skills we can harness Africas critical minerals not just for economic gains but for building a sustainable and inclusive future he saidIndia is currently the fifthlargest investor in Africa with investments exceeding 80 billion and these investments are not limited to mining alone but extend into manufacturing value addition and services he notedIndia and Africa must work to double bilateral trade by 2030 focusing on value addition technologydriven agriculture renewable energy and healthcare Union Minister of Commerce and Industry Piyush Goyal had said at the eventGwede Mantashe South Africas Minister of Mineral and Petroleum Resources speaking at the G20 Critical Minerals Stakeholder Engagement said resourcerich countries such as South Africa frequently lose jobs and profits due to concentrated global supply chainsSuch countries also have to contend with underdeveloped infrastructure as well as inadequate investment in extraction and processing the South African publication quoted Mantashe as saying IANS https://dailyworld.in/business/india-africa-strengthens-partnerships-in-critical-minerals-sector-report-645873.html Fri, 31 Oct 2025 18:09:00 +0530 https://dailyworld.in/business/uidai-unveils-aadhaar-vision-2032-framework-to-strengthen-digital-identity-through-ai-advanced-encryption-645878.html New Delhi Oct 31 Unique Identification Authority of India UIDAI on Friday said that it has embarked on a comprehensive strategic and technological review to shape the next decade of Aadhaars evolution through a new Aadhaar Vision 2032 framework recognising the rapidly changing technological and regulatory landscape According to the Ministry of Electronics and IT this forwardlooking roadmap will strengthen Aadhaars technological foundation integrate emerging digital innovations and ensure that Indias digital identity platform remains robust inclusive and futurereadyUIDAIs technology stack which forms the backbone of Aadhaar services and works as a facilitator of our digital economy is set for a major upgrade the ministry saidTo guide this ambitious transformation UIDAI has constituted a highlevel Expert Committee under the chairmanship of Neelkanth Mishra Chairperson UIDAIThe committee brings together eminent experts and leaders from academia industry and administration to provide strategic direction on strengthening Aadhaars innovation roadmapThe committee will develop the Aadhaar Vision 2032 document outlining the framework for nextgeneration Aadhaar architecture aligned with Indias Digital Personal Data Protection DPDP Act and emerging global standards of privacy and cybersecurityThe Aadhaar Vision 2032 framework will focus on leveraging cuttingedge technologies such as Artificial Intelligence AI Blockchain Quantum Computing Advanced Encryption and nextgeneration Data Security mechanisms the ministry saidThese will ensure Aadhaar remains resilient against evolving cybersecurity threats scalable for future demand and adaptive to the rapidly changing digital landscapeThe other members of the committee are Bhuvnesh Kumar CEO UIDAI Vivek Raghavan CoFounder of Sarvam AI Dheeraj Pandey Founder of Nutanix Sasikumar Ganesan Head of Engineering MOSIP Rahul Matthan Partner Trilegal Navin Budhiraja CTO amp Head of Products and Vianai SystemsPrabaharan Poornachandran Professor at Amrita University Anil Jain Professor at Michigan State University Mayank Vatsa Professor at IIT Jodhpur and Shri Abhishek Kumar Singh Deputy Director General UIDAI are also part of the committee IANS https://dailyworld.in/business/uidai-unveils-aadhaar-vision-2032-framework-to-strengthen-digital-identity-through-ai-advanced-encryption-645878.html Fri, 31 Oct 2025 18:16:00 +0530 https://dailyworld.in/business/india-aims-300-million-tonnes-of-crude-steel-production-capacity-by-2030-645887.html New Delhi Oct 31 India aims to achieve 300 million tonnes of crude steel production capacity by 2030 Union Minister of State for Steel Bhupathiraju Srinivas Varma said on Friday In a meeting with Sara Modig State Secretary to Minister for Energy Business and Industry Sweden here in presence of Swedish Ambassador to India Jan Thesleff and other officials the minister highlighted Indias growing steel sector driven by visionary leadership of Prime Minister Narendra ModiNotably Indias domestic steel demand is growing at an impressive 1113 per cent fuelled by largescale infrastructure projects while global demand faces a slowdown according to Steel MinistryThe discussions were held to explore collaboration opportunities in the field of research and development in Green Steel production and other advanced technologies to reduce carbon emissionsVarma reaffirmed the invitation extended to Sweden to participate in Bharat Steel 2026 an International ConferencecumExhibition dedicated to the steel industry scheduled to be held on April 1617 2026 at Bharat Mandapam New DelhiMeanwhile the growth rate of Indias eight core industries was recorded at 3 per cent in September this year compared to the same month of the previous year with the steel and cement sectors recording strong growth during the month data released by the Commerce and Industry Ministry showedSteel production surged by a robust 141 per cent in September compared to the same month of the previous year on the back of increased demand from bigticket infrastructure projects being carried out by the government The cumulative growth of steel during April to Sept of 202526 increased by 11 per cent over the corresponding period of the previous yearThe government imposed a 12 per cent temporary safeguard duty on certain steel imports in April 2025 to protect the domestic market These measures follow previous actions and are part of ongoing efforts to safeguard the industry while promoting selfreliance under initiatives like Make in India IANS https://dailyworld.in/business/india-aims-300-million-tonnes-of-crude-steel-production-capacity-by-2030-645887.html Fri, 31 Oct 2025 19:09:00 +0530 https://dailyworld.in/business/indian-firms-get-licenses-to-import-rare-earth-magnets-from-china-645640.html New Delhi Oct 30 Ministry of External Affairs spokesperson Randhir Jaiswal said on Thursday that some Indian companies have received licenses for importing rare earth magnets from China At least three Indian companiesContinental India Hitachi and Jay Ushinhave received initial government approval to import the magnets These firms supply components for Indias automotive and electronics industriesThis is the first set of clearances since Beijing imposed tight controls on the export of these magnets earlier in April The move is intended to alleviate supply issues that have impacted key industries in IndiaJaiswal also said We have to look at how the US and China talks will play into our domainThe import licenses have specific conditions attached The imported magnets cannot be reexported to the United States and cannot be used for defencerelated purposesThe MEA had previously confirmed in June 2025 that it was in discussions with China to secure the supply of rare earth materials and bring predictability to the trade supply chainThe Indian government and industry bodies have been working to find a solution to the supply bottlenecks The automotive sector especially manufacturers of electric vehicles EVs was particularly affected by the export restrictions This initial grant of licenses is expected to ease some of the pressureMeanwhile US President Donald Trump on Thursday announced that he and Chinese President Xi Jinping have agreed on a oneyear deal for the supply of crucial rare earth materialsThe announcement came after the two leaders met at Busan in South Korea on the sidelines of the 32nd APEC Economic Leaders Meeting their first inperson meeting in six yearsTrump said the agreement will be renewed annually and represents significant progress in the countries strained trade relationshipAll the rare earths have been settled and thats for the world Trump told reporters aboard Air Force One after the meetingHe added that he had also agreed to reduce fentanylrelated tariffs on China from 20 per cent to 10 per cent describing the meeting with Xi as a 12 out of 10Trump said A lot of things we brought to finalisation and praised the Chinese President as a tremendous leader of a very powerful country IANS https://dailyworld.in/business/indian-firms-get-licenses-to-import-rare-earth-magnets-from-china-645640.html Thu, 30 Oct 2025 19:10:00 +0530 https://dailyworld.in/business/saved-rs-2-062-crore-in-cost-of-toll-collection-in-fy2024-25-nhai-645649.html New Delhi Oct 30 The cost of toll collection came down from Rs 4736 crore in FY 202324 to Rs 2674 crore in FY 202425 resulting in savings of Rs 2062 crore for NHAI the Ministry of Road Transport and Highways said on Thursday In percentage terms the cost of toll collection decreased from 1727 per cent in FY 202324 to 927 per cent in FY 202425 The cost of toll collection is the difference between the Toll Fee collected by the tolling agencies and the amount remitted to NHAI at publicfunded toll plazasIn FY 202324 total toll collected by the toll agencies amounted to Rs 27417 crore out of which about Rs 22681 crore were remitted to NHAI However in FY 202425 the toll agencies collected a total of about Rs 28823 crore as toll fee out of which around Rs 26149 crore were remitted to NHAIThe savings in cost of toll collection had resulted primarily due to various initiatives taken by NHAI like close monitoring of current contracts deletion of provision for deemed extension of three months timely bidding ensuring the maximum contracts for oneyear duration are awarded and shortterm contracts of three months are minimised Moreover measures were taken to drastically reduce short term threemonth contracts limiting only three premature termination requests during a financial year and restricting the same contractor in the bidding of toll plaza for which he has submitted the premature termination requestAlso NHAI has been regularly engaging with the All India User Fee Collection Federation to address issues and challenges faced by the toll collection agencies to build confidence and increase participation in toll bids According to a ministry statement timely release of performance security cash part and bank guarantees of the toll collection agencies further enhanced their bidding capabilities resulting into higher bids amounts Apart from this to avoid any windfall gains to the toll collection agencies a Windfall Gain clause was also introduced in the agreements under which the contract of the toll collection agency can be terminated if the moving average of toll collection in last 15 days is more than 40 per cent of the remittance paid to NHAI IANS https://dailyworld.in/business/saved-rs-2-062-crore-in-cost-of-toll-collection-in-fy2024-25-nhai-645649.html Thu, 30 Oct 2025 19:19:00 +0530 https://dailyworld.in/business/reliance-partners-google-to-accelerate-indias-ai-revolution-645652.html New Delhi Oct 30 Reliance Industries Limited RIL on Thursday announced an expansive strategic partnership between Google and its artificial intelligence AI focused subsidiary Reliance Intelligence Limited to accelerate AI adoption across India Under the collaboration Google in partnership with Reliance Intelligence will begin rolling out Googles AI Pro plan with the latest version of Google Gemini to eligible Jio users free of charge for 18 monthsThis offer includes higher access to Googles most capable Gemini 25 Pro model in the Gemini app higher limits to generate stunning images and videos with their stateoftheart Nano Banana and Veo 31 models expanded access to Notebook LM for study and research 2 TB of cloud storage and moreThis 18month offer is worth Rs 35100 Eligible Jio users will also be able to easily activate this offer via the MyJio appReflecting Jios commitment to empowering Indias youth the rollout will commence with early access for 18 to 25yearold users on unlimited 5G plans and will swiftly expand to include every Jio customer nationwide in the shortest time possible RIL saidThis partnership will also explore bringing more delightful local experiences powered by AI to Jio users catering to Indias rich cultural and linguistic diversityAdditionally the collaboration brings together Reliances scale connectivity and ecosystem reach with Googles worldclass AI technologyempowering consumers enterprises and developersReliance Intelligence aims to make intelligence services accessible to 145 billion Indians Through our collaboration with strategic and longterm partners like Google we aim to make India not just AIenabled but AIempowered where every citizen and enterprise can harness intelligent tools to create innovate and grow Mukesh Ambani Chairman Reliance Industries LimitedReliance has also announced partnering with Google Cloud to broaden access to its advanced AI hardware accelerators Tensor Processing Units TPUsThis will enable more organisations to train and deploy larger more complex AI models as well as deliver faster inferencing to help execute highly demanding projects and accelerate AI adoption across the broader India AI ecosystemThis expanded collaboration also establishes Reliance Intelligence as a strategic gotomarket partner for Google Cloud driving the adoption of Gemini Enterprise across Indian organisationsReliance is a longstanding partner in Googles goal of advancing Indias digital future together weve brought affordable internet access and smartphones to millions said Sundar Pichai CEO of Google and AlphabetNow we are bringing this collaboration into the AI era Todays announcement will put Googles cuttingedge AI tools in the hands of consumers businesses and Indias vibrant developer community he added IANS https://dailyworld.in/business/reliance-partners-google-to-accelerate-indias-ai-revolution-645652.html Thu, 30 Oct 2025 20:06:00 +0530 https://dailyworld.in/business/indias-auto-sector-sees-strong-recovery-in-sep-cv-sales-up-119-pc-yoy-645658.html New Delhi Oct 30 Indias automobile sector experienced a robust recovery in September with sales increasing by 5 to 10 per cent across various segments a report said on Thursday The pickup in sales was driven by Goods and Services Tax GST reforms and the onset of the festive season signalling a positive turn for the industry in FY2026 the report from ratings agency ICRA saidThe commercial vehicle CV segment witnessed a robust 119 per cent yearonyear growth in wholesale volumesWhile infrastructure projects and revived logistics supported a 32 per cent growth in H1 FY26 retail sales in specific segments like Medium and Heavy Commercial Vehicles MampHCVs contracted temporarily as fleet owners had deferred purchases in anticipation of the tax reformRetail sales of twowheelers grew 65 per cent YoY during the month after muted sales in the first few weeks due to purchase deferralsWholesale volumes also grew 6 per cent as manufacturers increased dispatches the report notedThe passenger vehicle PV segment gained notable traction postGST cut with retail sales growing 58 per cent YoY and wholesale volumes up 45 per cent ICRA saidWholesale volumes saw a 157 per cent sequential increase as OEMs stocked dealerships for the festive period Although inventory levels were elevated utility vehicles continued to dominate sales it saidICRA maintained a stable to positive outlook for the Indian auto sector in FY2026 For the fiscal year the ratings agency forecasted a modest 35 per cent wholesale growth for the CV industry 69 per cent growth for twowheelers and 1 to 4 per cent growth for passenger vehiclesImproved affordability new model launches an increase in rural demand and sustained festive demand will act as growth drivers the report said IANS https://dailyworld.in/business/indias-auto-sector-sees-strong-recovery-in-sep-cv-sales-up-119-pc-yoy-645658.html Thu, 30 Oct 2025 20:16:00 +0530 https://dailyworld.in/business/anil-ambanis-reliance-group-dismisses-cobrapost-report-as-baseless-motivated-campaign-645668.html Mumbai Oct 30 The Reliance Group on Thursday dismissed the Cobrapost report which alleged that the Anil Ambaniled company had diverted funds to the tune of over Rs 41900 crore as a malicious baseless and motivated campaign being orchestrated by the news platform at the behest of the groups corporate rivals The Reliance Group said in its rebuttal to the report that certain corporate rivals appear to be orchestrating this alleged exercise with the malicious intent to tarnish the reputation of Reliance Infrastructure Limited Reliance Power Limited Anil D Ambani and one of the largest family of over 55 lakh shareholders aimed at crashing the stock prices and engineering panic in stock markets to acquire Reliance Group assets at rock bottom stock priced levelsThe Reliance Group did not mention who the corporate rivals were but stated that they wanted to acquire its prime assets such as Delhis power distribution company BSES Ltd Mumbai Metro and 1200 MW Rosa power project at throwaway pricesThe Reliance Group also said the information being referred to in the Cobrapost report is long available in the public domain and has already been examined by statutory authorities including the CBI ED SEBI and other competent agencies Any suo motu comments or statements on these subjects would amount to contempt of court and interference with the right to fair trial it addedOver the last three months the combined market capitalisation of Reliance Infrastructure and Reliance Power has declined by over Rs 15000 crore driven by rumormongering speculative trading and orchestrated misinformation The credibility intent and funding of Cobrapost and its associates therefore merit serious scrutiny the rebuttal addedEarlier in the day Cobrapost alleged that the Reliance Anil Dhirubhai Ambani Group has indulged in a massive banking fraud amounting to more than Rs 28874 crore since 2006 with impunity The Cobrapost report alleges that the fraud involves siphoning off funds that were raised through bank loans IPOs and bonds by listed ADA Group companiesIn addition about 1535 billion raised abroad was routed to India in a fraudulent manner This includes 750 million a mysterious benefactor company NexGen Capital advanced to Emerging Market Investments amp Trading Pte EMITS of Singapore during a temporary custody arrangement with Reliance Innoventures the holding company of the ADA Group Cobrapost further alleged in its investigation report which has been posted on its websiteThe value of US1535 million thus diverted works out to Rs 1304750 crore in Indian currency and put together the amounts involved stand at more than Rs 4192157 crore the Cobrapost report alleges IANS https://dailyworld.in/business/anil-ambanis-reliance-group-dismisses-cobrapost-report-as-baseless-motivated-campaign-645668.html Thu, 30 Oct 2025 21:18:00 +0530 https://dailyworld.in/business/nasscom-partners-with-uidai-to-help-indias-deeptech-innovators-645670.html New Delhi Oct 30 The National Association of Software and Service Companies NASSCOM on Thursday said that it has signed a Memorandum of Understanding MoU with the Unique Identification Authority of India UIDAI to expand opportunities for Indias DeepTech innovators and strengthen the countrys digital identity ecosystem As part of the collaboration the trade association will support UIDAIs Scheme for Innovation and technology association with Aadhaar SITAA a structured UIDAI initiative to catalyse open innovation indigenisation and scalable IDtech solutions that strengthen the Aadhaar ecosystem and Indias Digital Public InfrastructureIndia is home to more than 4000 DeepTech startups including over 500 inventive ventures tackling challenges in healthtech agriculture space and other strategic sectorsNasscom has been closely working with the ecosystem and government in evangelising the promise of DeepTech startups spotlighting their ideas and enabling them to scale globallyThe collaboration with UIDAI reinforces this mission by shaping a national narrative around IDTech a domain poised to transform service delivery enhance trust in digital interactions and unlock inclusive growth for millions of citizensFor startups the partnership opens doors to UIDAIs incubation sandbox providing a platform to pilot solutions in policylinked environments gain visibility with influential stakeholders and engage with realworld challenges central to Indias digital futureThe future of digital identity will be shaped by groundbreaking ideas and solutions that redefine what trust means in the digital age With the convergence of AI biometrics and secure platforms there is immense potential to make citizen services more accessible reliable and citizencentric said Sangeeta Gupta Sr Vice President and Chief Strategy Officer at NasscomThis collaboration with UIDAI allows startups to not only innovate but also to impact how technology can empower governance with transparency and trust at its foundation she addedThrough curated showcases academia outreach and structured exchanges with UIDAI the initiative will help founders validate their ideas build credibility and accelerate their journey to scaleThe initiative aims to strengthen Indias digital identity ecosystem by fostering innovation promoting indigenisation and enabling collaborative development in the identity technology domainIt will further open new pathways for startups in the IDTech space to imagine experiment and build solutions that can power the backbone of Indias digital identity infrastructure IANS https://dailyworld.in/business/nasscom-partners-with-uidai-to-help-indias-deeptech-innovators-645670.html Thu, 30 Oct 2025 21:20:00 +0530 https://dailyworld.in/business/india-and-sri-lanka-hold-1st-joint-working-group-meeting-on-agriculture-645679.html New Delhi Oct 30 India and Sri Lanka discussed collaboration in key areas including farm mechanisation organic and natural farming seed sector development agrientrepreneurship agricultural education soil health management market access and climateresilient agriculture at the first Joint Working Group JWG meeting on Agriculture between the Asian countries was held on Thursday The meeting was cochaired by Devesh Chaturvedi Secretary Department of Agriculture and Farmers Welfare and D P Wickramasinghe Secretary Ministry of Agriculture Livestock Land and Irrigation Government of Sri LankaBoth sides discussed Opportunities for joint research and capacity building were also exploredThe meeting also covered initiatives such as digital agriculture crop insurance and agristartupsThe Sri Lankan delegation visited the Indian Agricultural Research Institute IARI Pusa New Delhi to gain insights into Indias agricultural research and innovation ecosystemThe discussions reaffirmed the shared commitment of India and Sri Lanka to deepen cooperation for strengthening food and nutritional security in both countriesThe Sri Lankan delegation comprised G G V Shyamali Additional Director General of Agriculture Development Department of Agriculture B S S Perera Director Livestock Development Ministry of Agriculture Livestock Land and Irrigation and Geshan Counsellor High Commission of Sri LankaThe meeting was also attended by Joint Secretaries from the Department of Agriculture amp Farmers Welfare DAampFW Chairman PPVFRA Department of Agricultural Research and Education DARE the Indian Council of Agricultural Research ICAR and the Ministry of External Affairs MEA IANS https://dailyworld.in/business/india-and-sri-lanka-hold-1st-joint-working-group-meeting-on-agriculture-645679.html Thu, 30 Oct 2025 23:29:00 +0530