DailyWorld News - The First International Newspaper From India https://dailyworld.in/ Tue, 23 Sep 2025 20:45:59 +0530 en https://dailyworld.in/business/disinvestment-target-of-rs-47-000-crore-to-be-surpassed-more-psu-ipos-ofs-in-pipeline-dipam-secretary-640043.html New Delhi Sep 22 India is set to surpass its Rs 47000 crore disinvestment target for the current fiscal year said Arunish Chawla Secretary of the Department of Investment and Public Asset Management on Monday Chawla said at a media event that public investment via budgetary support is on track with 33 per cent of the annual allocation met by the end of July by frontloading key reformsAs markets stabilise we will bring in more offers for sale minority stake sales and a few IPOs and speed up our journey he saidHalf a dozen OFS and minority stake sales are likely along with 12 strategic sales he said adding that the IDBI Bank strategic divestment will be completed within this financial yearDemocratisation of capital markets has been a big reform he said adding that twothirds of DII flows originated from individual investors even amidst great nervousness for past few months in capital marketsFrom January to August while FIIs withdrew Rs 1 lakh crore in net outflow DIIs poured in Rs 5 lakh crore into Indias equity market he notedChawla described the governments disinvestment strategy as integrated where the public sector has a bona fide role to play as maintaining supply chain security is importantThe secretary said that dividends will play a significant role in the governments integrated disinvestment policy because the public sector which makes up 14 per cent of market capitalisation pays 25 per cent of dividends to small shareholdersThe government targets over Rs 12 lakh crore in dividend receipts this year and is on course to meet the asset monetisation target in FY26 he addedIn spite of global headwinds very soon our capital markets will be third largest in the world he further said IANS https://dailyworld.in/business/disinvestment-target-of-rs-47-000-crore-to-be-surpassed-more-psu-ipos-ofs-in-pipeline-dipam-secretary-640043.html Tue, 23 Sep 2025 00:16:00 +0530 https://dailyworld.in/business/gst-cut-on-renewable-energy-to-save-rs-115-trillion-by-2030-pralhad-joshi-640090.html New Delhi Sep 23 The reduction of Goods and Services Tax GST on the renewable energy value chain from 12 per cent to 5 per cent will save up to Rs 115 trillion by 2030 Union Minister for New and Renewable Energy Pralhad Joshi has said The savings will be essential to reaching the nations goal of 500 gigawatts GW of installed renewable energy RE capacity by 2030 Joshi stated during a media eventIndia has already added 252 GW of this and an additional 248 GW is anticipated to be installed over the next five yearsThis GST cut will result in savings of approximately Rs 1 to 15 trillion This will be the biggest advantage the minister saidThe Ministry of New and Renewable Energy MNRE projects that the tax cut will lower project costs and increase consumer access to clean electricityA utilityscale solar projects capital cost which was previously approximately Rs 354 crore per MW will now be reduced by Rs 2025 lakh per MW This results in cost savings of more than Rs 100 crore for a 500 MW solar park increasing tariff competitivenessA 3 kW rooftop solar system will cost between Rs 9000 and Rs 10500 per household which will encourage adoption under the governments PM Surya Ghar Muft Bijli YojanaThe Centre is also creating a detailed plan to create an ecosystem for solar manufacturing that is selfsufficient encompassing polysilicon wafers and ingotsJoshi suggested using programs like Production Linked Incentive PLI or Viability Gap Funding VGF to promote domestic manufacturingIn addition to modules and cells MNRE is working to add wafers and ingots to the Approved List of Models and Manufacturers ALMMALMM List III for wafers would be implemented starting in June 2028 according to a draft amendment provided that at least three separate manufacturing facilities with a combined 15 GW capacity are in place IANS https://dailyworld.in/business/gst-cut-on-renewable-energy-to-save-rs-115-trillion-by-2030-pralhad-joshi-640090.html Tue, 23 Sep 2025 12:54:00 +0530 https://dailyworld.in/business/gst-reforms-to-boost-operating-profit-of-cement-companies-by-rs-100-150-per-mt-in-fy26-640106.html New Delhi Sep 23 The reduction in Goods and Services Tax GST will boost the operating profit of cement companies by Rs 100150 per metric tonne MT a report said on Tuesday The government move will also reduce overall construction expenses in rural housing by 081 per cent boosting volumes and supporting enhanced capacity additionBacked by the healthy cement demand average cement realisation exfactory price excluding GST is expected to rise by 35 per cent in FY26 even as the input prices are expected to remain rangebound credit rating agency ICRA said in its reportFurther Operating Profit Before Interest Taxes Depreciation and Amortisation OPBIDTA is likely to improve by 1218 per cent to Rs 900950MT in FY2026 it addedCement volumes increased by 85 per cent in 5 months of FY26 due to strong demand from the housing and infrastructure segments despite the early onset of the monsoons in a few regionsCement prices have increased by 74 per cent in the first five months of the current fiscal on a yearonyear YoY basis with major hikes in the northern and eastern regionsThe trajectory of input prices especially for pet coke and freight is linked to global crude which remains exposed to geopolitical dynamicsWith the recent GST rate cut from 28 per cent to 18 per cent expected to be passed on to customers and the average retail price of cement currently ranging between Rs 350360 per bag consumers are projected to benefit by Rs 2628 per bag the report saidAccording to the report in FY25 the OPBIDTAMT had declined by 16 per cent YoY due to weak realisations especially during H1 FY2025 because of extended monsoon and impact on Government capex amid the General ElectionsOverall the credit profile of large cement producers is expected to remain stable driven by a healthy growth in operating income expected improvement in operating margins and comfortable leverage metricsThe industry has witnessed consolidation in recent years and the performance of larger players is expected to outperform compared to that of midsize players in the medium termICRA estimates green power to account for 4345 per cent of the total power mix by March 2026 compared to around 35 per cent as of March 2023 for the cement companies in ICRAs sample set said Anupama Reddy Vice President and CoGroup Head Corporate Ratings ICRAThe major cement players in the country aim to reduce their emissions by 1517 per cent over the next 810 years by increasing the share of blended cement which uses less clinker and consequently less fuel boosting the share of green power consumption through a mix of solar wind and waste heat recovery system WHRS capacities Reddy added IANS https://dailyworld.in/business/gst-reforms-to-boost-operating-profit-of-cement-companies-by-rs-100-150-per-mt-in-fy26-640106.html Tue, 23 Sep 2025 13:53:00 +0530 https://dailyworld.in/business/500-ships-in-10-months-vizhinjam-proves-its-global-importance-kerala-minister-640108.html Thiruvananthapuram Sep 23 The arrival of 500 ships in ten months proves the importance of Vizhinjam Indias first deepwater multipurpose container transshipment port in global cargo shipping Achieving this remarkable feat in just ten months since launching operations is truly noteworthy said Kerala Ports Minister VN Vasavan on Tuesday as Vizhinjam International Seaport scripted a new chapter in Indias maritime historyDeveloped and operated by Adani Ports and Special Economic Zone APSEZ Vizhinjam handled its 500th vessel on Tuesday coinciding with another landmark the berthing of MSC Verona with a draft of 171 metres the deepest draft container vessel ever serviced at an Indian portVasavan noted that with MSC Verona anchoring at 171 metres Vizhinjam has created two records in a single day growing steadily with firm stepsSince commencing commercial operations in December 2024 Vizhinjam has handled 11 million TEUs twentyfoot equivalent units already surpassing its projected annual capacityOf the 500 vessels serviced so far 28 were Ultra Large Container Vessels ULCVs the highest number received at any single Indian portHighlighting the pride the port evokes among Malayalis worldwide Vasavan added No matter which part of the world one travels to the sight of the tagline Vizhinjam Thiruvananthapuram Kerala India brings immense pride to every MalayaliIndustry experts underline that Vizhinjams natural advantages 1820 metres of depth and minimal littoral drift make it uniquely positioned to handle the worlds largest container shipsLocated close to major eastwest shipping lanes the port is rapidly emerging as Indias premier deepwater transshipment hub reducing reliance on foreign ports and strengthening the nations presence in global trade routesWith milestones coming thick and fast Vizhinjam continues to cement its reputation as the Wonder Port of India underscoring Indias evolving maritime prowess and expanding economic horizonsThe port is located close to the famed beach destination Kovalam located about 14 km from the state capital city IANS https://dailyworld.in/business/500-ships-in-10-months-vizhinjam-proves-its-global-importance-kerala-minister-640108.html Tue, 23 Sep 2025 13:54:00 +0530 https://dailyworld.in/business/epfo-records-55-pc-rise-in-net-members-at-2104-lakh-in-july-640109.html New Delhi Sep 23 The Employees Provident Fund Organisation EPFO recorded a net addition of 2104 lakh members in July this year which represents a 555 per cent increase compared to the same month of the previous year signifying increased employment opportunities and heightened awareness of employee benefits according to an official statement issued on Tuesday EPFO enrolled around 979 lakh new subscribers in July this year A noticeable aspect of the data is the dominance of the young 1825 age group most of who are into their first jobs EPFO added 598 lakh new subscribers in the 1825 age group constituting a significant 6106 per cent of the total new subscribers added during the monthFurther the net payroll addition for the age group 1825 for July is approximately 913 lakh reflecting a growth of 409 per cent increase over the corresponding figure for the same month of the previous year This is in consonance with the earlier trend which indicates that most individuals joining the organised workforce are youth primarily firsttime job seekers the statement explainedApproximately 1643 lakh members who had exited earlier rejoined EPFO in July this year This figure displays a significant 1212 per cent yearoveryear growth compared to July 2024 These members switched their jobs and rejoined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus safeguarding longterm financial wellbeing and extending their social security protectionAround 280 lakhs new female subscribers joined EPFO in July Further the net female payroll addition during the month stood at around 442 lakh with a year over year growth of 017 per cent The growth in female member additions is indicative of a broader shift towards a more inclusive and diverse workforce the statement saidStatewise analysis of the data indicates that the top five states constitute around 6085 per cent of net payroll addition adding a total around 1280 lakh net payroll during the month Of all the states Maharashtra leads with the addition of 2047 per cent of net payroll numbers during the monthMaharashtra Karnataka Tamil Nadu Gujarat Haryana Delhi Telangana and Uttar Pradesh individually added more than 5 per cent of the total net payroll during the month as per the official data IANS https://dailyworld.in/business/epfo-records-55-pc-rise-in-net-members-at-2104-lakh-in-july-640109.html Tue, 23 Sep 2025 14:19:00 +0530 https://dailyworld.in/business/we-will-make-our-nation-proud-sridhar-vembu-after-ashwini-vaishnaw-opts-for-zoho-640114.html New Delhi Sep 23 Zohos Chief Scientist and Cofounder Sridhar Vembu has said that the companys engineers will continue to make the nation proud after Union Minister Ashwini Vaishnaw announced that he is shifting to Zohos homegrown platform for documents spreadsheets and presentations Reacting to Vaishnaws post on X Vembu wrote Thank you Sir this is a huge morale boost for our engineers who have worked hard for over two decades to build our product suite We will make you proud and make our nation proud Jai HindEarlier Vaishnaw had said he is moving to Zoho to support the call for Swadeshi I am moving to Zoho our own Swadeshi platform for documents spreadsheets amp presentations I urge all to join PM Narendra Modis call for Swadeshi by adopting indigenous products amp services he postedThe ministers statement comes after Prime Minister Modi in his letter to citizens urged people to buy MadeinIndia products during the festive season as part of the vision of Viksit Bharat 2047PM Modi had stressed that every purchase of local goods helps families artisans and workers while creating job opportunities for youthEvery time you buy a product made by our artisans workers and industries you are helping families earn their living and creating job opportunities for our youth the Prime Minister had said while also encouraging traders to promote local goodsThe Prime Minister also linked the appeal with the recent GST Bachat Utsav introduced under Next Generation GST reforms which is aimed at reducing household expenses simplifying business processes and supporting growth for farmers women traders MSMEs and othersZoho a software major with a strong focus on building indigenous technology solutions has often been highlighted as a successful example of Indias capability in creating globalstandard productsVaishnaws announcement to adopt Zoho reflects the governments larger push for selfreliance and greater use of indigenous platforms IANS https://dailyworld.in/business/we-will-make-our-nation-proud-sridhar-vembu-after-ashwini-vaishnaw-opts-for-zoho-640114.html Tue, 23 Sep 2025 14:24:00 +0530 https://dailyworld.in/business/mp-govts-helicopter-service-plan-to-boost-tourism-connectivity-640121.html Bhopal Sep 23 In a major push to enhance tourism and regional connectivity the Madhya Pradesh government has unveiled a helicopter service plan covering three strategic sectors across the state The initiative designed under a PublicPrivate Partnership PPP model aims to link key cultural religious and commercial destinations through air travel making Madhya Pradesh one of the first states in India to adopt such a comprehensive aviationbased tourism strategy Kailash Vijayvargiya state urban development minister and government spokesperson said here on Tuesday after a cabinet meetingThe first sector includes Indore Ujjain Omkareshwar Mandu Maheshwar Gandhi Sagar Mandsaur Neemuch Hanuman Khandwa Banpur Barwani Rajpur Ratlam Jharsuguda Nalkhara and Bhopal These locations are known for their historical significance and scenic beauty and the helicopter service is expected to make them more accessible to domestic and international touristsThe second sector connects Bhopal with destinations such as Pachmarhi Tamia Chhindwara Sanchi Datia Damoh Gwalior Shivpuri Kucha Ochha Guna Rajgarh Sagarput Vaikunth and Timgarh This route is designed to support heritage tourism and pilgrimage circuits with Bhopal and Indore serving as central hubs said the ministerThe third sector focuses on eastern and central Madhya Pradesh linking Jabalpur Kanha National Park Chitrapur Sarasi Parsali Mehar Satna Panna Khajuraho Patti Rewa Sindori Amarkantak Sini Seedi Manda Pech Dandori and again Bhopal and Indore This route is expected to attract ecotourists and wildlife enthusiasts especially with Kanha and Panna being prominent tiger reserves the ministers saidIndore featured prominently across all three sectors is being positioned as the aviation and commercial hub of Central IndiaWith existing helicopter services already operating in the city the expansion is expected to catalyse both tourism and business travelOfficials believe that improved air connectivity will not only reduce travel time but also stimulate economic activity in remote and underserved regionsThe helicopter tourism plan is part of a broader vision to integrate aviation into the states development strategy By leveraging the PPP model the government aims to ensure affordability operational efficiency and private sector innovationAs the rollout begins stakeholders anticipate a surge in tourist footfall and commercial engagement across Madhya Pradeshs diverse landscape IANS https://dailyworld.in/business/mp-govts-helicopter-service-plan-to-boost-tourism-connectivity-640121.html Tue, 23 Sep 2025 14:56:00 +0530 https://dailyworld.in/business/tractor-sales-to-grow-4-7-pc-in-fy26-2-wheeler-industry-also-set-for-healthy-growth-report-640127.html New Delhi Sep 23 The tractor segment in India is expected to grow by 47 per cent in FY2026 while the twowheeler industry is also likely to record healthy growth a new report said on Tuesday The forecast is supported by abovenormal rainfall strong rural incomes festive demand and the recent GST rate cuts that are expected to improve affordability and boost sales according to the data compiled by rating agency ICRAThe tractor industry has already shown strong performance in FY2026 so far Wholesale volumes grew 282 per cent yearonyear YoY in August 2025 while cumulative growth for the first five months of the fiscal stood at 117 per centRetail sales in August also recorded a sharp 301 per cent rise compared to the same month last year reflecting positive farmer sentiment and healthy rainfallIndia has received 108 per cent of the longperiod average rainfall till September 17 which has boosted agricultural activity and rural demandICRA said that the recent cut in GST rates on tractors to 5 per cent will further lift demand during the upcoming festive seasonThe industry is also preparing for a possible round of prebuying before the TREM V emission norms come into effect from April 1 2026Tractor manufacturers are expected to maintain strong financial profiles supported by steady demand operating leverage and stable raw material costsIn the twowheeler industry wholesale volumes rose by 72 per cent yearonyear YoY in August to 18 million units as companies pushed dispatches ahead of the festive seasonHowever retail sales in August grew by only 22 per cent due to excess rainfall in some regions and customers delaying purchases in anticipation of GST benefits A stronger demand recovery is expected during the festive seasonExports gave further support to the segment with overseas shipments rising by 275 per cent in August compared to the same period last yearElectric twowheeler sales also continued to grow steadily with 104725 units sold in August a 18 per cent increase from the previous monthEV penetration in the twowheeler category remained stable at around 67 per cent the rating agency saidLooking ahead ICRA estimates domestic twowheeler volumes to grow by 69 per cent in FY2026The report said this will be supported by replacement demand urban market recovery healthy rural incomes due to good monsoon rainfall and the recent GST rate cut that will make vehicles more affordable IANS https://dailyworld.in/business/tractor-sales-to-grow-4-7-pc-in-fy26-2-wheeler-industry-also-set-for-healthy-growth-report-640127.html Tue, 23 Sep 2025 15:30:00 +0530 https://dailyworld.in/business/tractor-sales-to-grow-4-7-pc-in-fy26-2-wheeler-industry-also-set-for-healthy-growth-report-640128.html New Delhi Sep 23 The tractor segment in India is expected to grow by 47 per cent in FY2026 while the twowheeler industry is also likely to record healthy growth a new report said on Tuesday The forecast is supported by abovenormal rainfall strong rural incomes festive demand and the recent GST rate cuts that are expected to improve affordability and boost sales according to the data compiled by rating agency ICRAThe tractor industry has already shown strong performance in FY2026 so far Wholesale volumes grew 282 per cent yearonyear YoY in August 2025 while cumulative growth for the first five months of the fiscal stood at 117 per centRetail sales in August also recorded a sharp 301 per cent rise compared to the same month last year reflecting positive farmer sentiment and healthy rainfallIndia has received 108 per cent of the longperiod average rainfall till September 17 which has boosted agricultural activity and rural demandICRA said that the recent cut in GST rates on tractors to 5 per cent will further lift demand during the upcoming festive seasonThe industry is also preparing for a possible round of prebuying before the TREM V emission norms come into effect from April 1 2026Tractor manufacturers are expected to maintain strong financial profiles supported by steady demand operating leverage and stable raw material costsIn the twowheeler industry wholesale volumes rose by 72 per cent yearonyear YoY in August to 18 million units as companies pushed dispatches ahead of the festive seasonHowever retail sales in August grew by only 22 per cent due to excess rainfall in some regions and customers delaying purchases in anticipation of GST benefits A stronger demand recovery is expected during the festive seasonExports gave further support to the segment with overseas shipments rising by 275 per cent in August compared to the same period last yearElectric twowheeler sales also continued to grow steadily with 104725 units sold in August a 18 per cent increase from the previous monthEV penetration in the twowheeler category remained stable at around 67 per cent the rating agency saidLooking ahead ICRA estimates domestic twowheeler volumes to grow by 69 per cent in FY2026The report said this will be supported by replacement demand urban market recovery healthy rural incomes due to good monsoon rainfall and the recent GST rate cut that will make vehicles more affordable IANS https://dailyworld.in/business/tractor-sales-to-grow-4-7-pc-in-fy26-2-wheeler-industry-also-set-for-healthy-growth-report-640128.html Tue, 23 Sep 2025 15:31:00 +0530 https://dailyworld.in/business/icici-bank-to-clear-cheques-on-same-day-from-oct-4-640142.html New Delhi Sep 23 ICICI Bank has announced a major change to its cheque settlement process aimed at reducing delays and improving customer convenience From October 4 cheques submitted across the bank branches will be cleared and credited to accounts within one working day according to the banks official website The action is consistent with the Reserve Bank of Indias RBI new cheque clearing system which aims to expedite settlements The previous batchbased procedure will be replaced by the new framework which will clear cheque within hours of submissionThe Cheque Truncation System CTS which sends an electronic image of the check and its details to the drawee bank is currently used by banks This removes the need for cheques to be physically transferred but when deposited in drop boxes or automated teller machines settlement usually takes two working daysAdditionally ICICI Bank has emphasised the significance of its Positive Pay feature which gives highvalue cheques an additional degree of securityTo avoid fraud customers can electronically preconfirm important details before writing cheques for more than Rs 50000 For cheques totaling more than Rs 5 lakh the positive pay feature is mandatory otherwise the cheques will be returned The RBIs dispute resolution process will only apply to cheques that have been verified under Positive PayThe RBI declared in its August 2025 directive that batch clearing would give way to continuous clearing and settlement Phase 1 will begin on October 4 2025 and Phase 2 will begin on January 3 2026 cheques presentations will be permitted starting on October 4 during a single daily session from 1000 am to 400 pmCustomers are advised to ensure all cheque details are accurate to avoid rejection The amount in words and figures must match the date must be valid and there should be no overwriting in the payees name or amount The drawers signature must also match the banks records IANS https://dailyworld.in/business/icici-bank-to-clear-cheques-on-same-day-from-oct-4-640142.html Tue, 23 Sep 2025 16:11:00 +0530 https://dailyworld.in/business/amit-shah-inaugurates-startup-conclave-in-gujarat-over-170-showcase-innovations-640144.html Gandhinagar Sep 23 IANS Union Home and Cooperation Minister Amit Shah on Tuesday inaugurated the 2day Startup Conclave 2025 at Mahatma Mandir bringing founders investors and policymakers from across India together for a wideranging showcase and policy dialoguenbspAccompanied by Gujarat Chief Minister Bhupendra Patel and Higher Education Minister Rushikesh Patel HM Shah described the countrys youth as moving from jobseekers to jobcreators and urged investors to back earlystage venturesnbspHe said startups have provided employment to roughly 179 million people and noted that 48 per cent of new startups are founded by women statistics he cited to underline the sectors growing social and economic footprintThe Startup Conclave is a platform to convert Indias knowledge and innovation into jobs and businesses HM Shah said calling on investors to help new startups grow and predicting a future where startups will in turn make investors bignbspOrganisers said more than 170 startups are exhibiting over the two days presenting products and services across sectors including technology healthcare agritech fintech and green energy The event features an exhibition of prototypes and demonstrations a roundtable conference that brings founders into direct dialogue with industry experts and seven themed sessions focused on scaling innovation financing models and universityindustry linkagesCM Bhupendra Patel welcomed the conclave as an opportunity to reinforce Gujarats position as an entrepreneurial hub while Higher Education Minister Rushikesh Patel highlighted the role of universities and research institutions in mentoring earlystage companies and translating academic research into commercial venturesnbspParticipants said the conclave offered muchneeded visibility and networking opportunities but flagged persistent challenges Access to earlystage capital and pilot customers remains a bottleneck for many founders one exhibitor saidInvestors in attendance reiterated the need for clearer pathways for pilot procurement and sectorspecific incubation particularly for climate and health tech startups A roundtable discussion held on the sidelines examined practical steps to strengthen the ecosystem including improvements to beneficiary registries blended finance mechanisms for climate tech and incentives to encourage institutional procurement from startupsOrganisers said the conclave aims to generate actionable policy recommendations for both state and central governments and to launch a matchmaking platform to connect startups with investors and procurement opportunitiesAs the twoday programme continues the conclaves impact will be measured by its ability to move beyond rhetoric to secure followthrough concrete investor commitments pilot projects with government partners and policy changes that ease the route from prototype to scale For many founders on the floor the immediate hope is simple convert exposure into funding customers and contracts that sustain young ventures beyond proof of concept https://dailyworld.in/business/amit-shah-inaugurates-startup-conclave-in-gujarat-over-170-showcase-innovations-640144.html Tue, 23 Sep 2025 16:16:00 +0530 https://dailyworld.in/business/stock-market-settles-flat-auto-and-financial-services-stock-gain-640154.html Mumbai Sep 23 The domestic equity indices settled flat on Tuesday amid persistent selling in IT stocks amid buying in the auto and financial services sectors Sensex ended the session at 8210210 down 5787 points or 007 per cent The 30share index started the session flat at 8214737 against last sessions closing of 8215997 The index remained rangebound amid selling in IT and FMCG stocksNifty closed at 2516950 down 3285 points or 013 per centThe markets experienced significant volatility on the Nifty indexs weekly expiry day The Nifty formed a high wave candlestick pattern on the daily chart indicating a consolidation phase marked by trader indecision and a lack of clear directional conviction an analyst saidThe index has strong psychological support at the 25000 level and as long as it holds above this mark a pullback towards the 2530025400 zone remains likely the analyst addedTech Mahindra Trent Ultratech Cement Hindustan Unilever Asian Paint Eternal ITC Bharti Airtel HCL Tech Sun Pharma and HDFC Bank were the top losers While Axis Bank Bajaj Finance Maruti SBI Kotak Bank Tata Steel NTPC Tata Motors Mahindra and Mahindra and PowerGrid settled higherSectoral indices experienced a mixed approach Nifty Bank rose 225 points or 041 per cent Nifty Fin Services ended the session 31 points or 012 per cent higher and Nifty Auto surged 167 points or 062 per cent Meanwhile Nifty FMCG fell 725 points or 129 per cent and Nifty IT slipped 251 points or 071 per centThe broader indices followed the trend as well Nifty Smallcap 100 dipped 97 points or 053 per cent Nifty Midcap 100 fell 202 points or 035 per cent and Nifty 100 ended the session 48 points or 019 per centThe domestic equity market traded rangebound and ended flat indicating the continuation of the consolidation Broader sentiment stayed cautious with small and midcap stocks lagging the benchmarks Sectorwise autos metals and financials gained on signs of robust festive demand postGST cuts while FMCG and realty stocks came under pressure from profit booking according to an market analyst IANS https://dailyworld.in/business/stock-market-settles-flat-auto-and-financial-services-stock-gain-640154.html Tue, 23 Sep 2025 16:56:00 +0530 https://dailyworld.in/business/oecd-raises-indias-growth-by-40-bps-to-67-pc-in-2025-over-domestic-demand-gst-reforms-640155.html New Delhi Sep 23 The Organization for Economic Cooperation and Development OECD on Tuesday raised Indias GDP growth by 40 bps to 67 per cent in 2025 from its earlier projection of 63 per cent in June driven by strong domestic demand and robust GST reforms The OECDs latest World Economic Outlook mentioned that in India higher tariff rates will weigh on the export sector but overall activity is anticipated to be supported by monetary and fiscal policy easing including the reform to the Goods and Services Tax GST with growth projected to be 67 per cent in 2025 and 62 per cent in 2026The food price inflation has declined sharply in India helped by strong domestic supply and export restrictions said OECD in its latest reportGlobal growth proved more resilient than expected in the first half of 2025 especially in many emerging marketsThe OECD raised its growth forecast for the global economy to 32 per cent for this year but kept its 2026 forecast steady at 29 per cent saying it expects global trade uncertainties sparked by US tariffs will likely contract investment and trade in the second half of 2025The frontloading of goods production and trade ahead of the introduction of higher US tariff rates was an important source of support with industrial production growth in the first half of the year exceeding the average pace of 2024 in most G20 economies it addedUS tariffs on imports from almost all countries have increased since May reaching an estimated effective rate of 195 per cent at the end of August the highest since the mid1930sWhile the full impact of tariff increases is still unfolding early signs of effects are visible in consumer behaviour labour markets and prices Labour markets are softening with higher unemployment and fewer job openings in some economies while disinflation has stalled in many economies as food prices rose and services inflation remained persistent according to the OECDLooking ahead downside risks loom large further tariff hikes increased concerns about fiscal risks renewed inflation pressures could weigh on growth Financial market repricing including volatile crypto assets could pose additional financial stability concerns On the upside easing trade restrictions or faster advances in AI could support stronger outcomes IANS https://dailyworld.in/business/oecd-raises-indias-growth-by-40-bps-to-67-pc-in-2025-over-domestic-demand-gst-reforms-640155.html Tue, 23 Sep 2025 16:56:00 +0530 https://dailyworld.in/business/gst-20-reforms-herald-record-sales-across-india-consumers-rejoice-640162.html New Delhi Sep 23 IANS The GST 20 reforms which kicked in on Monday saw a tremendous response from shopkeepers auto dealers and every Indian householdnbspArriving in perfect sync with the first day of Navratri the reformed tax regime gave the common man a direct reason to rejoice with lower prices simplified slabs and immediate relief on daily essentialsnbspPM Narendra Modi called GST 20 a reform dedicated to the people of India and true to his words it felt less like a dry policy change and more like a festive bonanza Car showrooms witnessed serpentine queues online carts overflowed with orders and buzzed with recordbreaking festive salesThe automobile sector stole the spotlight with historic numbers Under the new GST structure smaller sub4 metre cars were moved into the 18 per cent slab while the compensation cess on automobiles was completely removednbspOn Day 1 of GST 20 Maruti recorded 80000 enquiries and delivered 30000 cars its highest singleday performance in 35 years Bookings for small cars surged 50 per cent compared to usual festival season ratesnbspDealer billings for Hyundai also shot up 11000 on that single day representing its best performance in five years Tata Motors also recorded 10000 car deliveries and over 25000 enquiries on the first day of Navaratri marking a strong start to the festive season with a noticeable increase in showroom walkins higher conversions and a growing order bookFor countless families GST 20 transformed longpostponed dreams into reality Automobiles became not just more accessible but a true festive purchasenbspThe excitement extended to the digital marketplace where shoppers rushed to stock up on fashion home essentials and festive musthavesnbspFlipkart and Amazon kicked off their festive sale events on Monday for loyalty programme users with sellers and brands reporting strong early traction boosted by the GST cutnbspFashion brand The Pant Project saw a 1520 per cent jump over last year while Shadow Etail a seller on both marketplaces saw traffic in the home essentials segment surge 151 per cent from last weekFashion brands like Snitch reported a 40 per cent jump in online ordersnbspElectronics turned into another big success story under GST 20 with households taking advantage of reduced prices on highdemand products While prices of split ACs have come down by Rs 30005000 highend TVs have seen a price cut of up to Rs 85000nbspCompanies like Haier reported almost 2 times the sales compared to a typical Monday with many prebookings even before the new rates came into effectnbspBlue Star estimated that GST 20 Day 1 sales were around 20 per cent higher compared to the same day last yearTV sales also surged especially in the 43inch and 55inch segments Companies like Super Plastronics Pvt Ltd selling largely through Flipkart reported a 3035 per cent growth in salesnbspGST 20 delivered instant relief and sparked consumer joy from Day One It reduced household expenses revived demand across industries and ignited the festive season with recordbreaking sales From cars and electronics to groceries and fashion every sector felt the surgenbspThis was more than tax reform It was a festival of savings a boost to demand and the real Diwali gift from PM Modi to the people of India https://dailyworld.in/business/gst-20-reforms-herald-record-sales-across-india-consumers-rejoice-640162.html Tue, 23 Sep 2025 17:49:00 +0530 https://dailyworld.in/business/headcount-of-indias-internet-subscribers-crosses-1-002-million-during-apriljune-640173.html New Delhi Sept 23 India is one of the fastestgrowing digital nations in the world with internet connectivity playing a crucial role in its progress This momentum is reflected in the staggering 100285 1002 bn million internet subscribers reported during AprilJune 2025 highlighting the scale and impact of Indias digital revolution according to an official statement issued on Tuesday In line with the vision of Viksit Bharat 2047 satellite internet is emerging as a key enabler of digital connectivity extending reliable access to remote and underserved regions while strengthening critical applications in defence and disaster responseRural internet penetration stands at approximately 46 subscribers per 100 population highlighting the need for satellite internet to bridge the digital divide the statement saidIndias broadband reach is steadily expanding through highthroughput satellites HTS developed by ISRO which use advanced spotbeam technology to provide faster speeds and higher capacity India has a fleet of 19 operational communication satellites among which GSAT19 GSAT29 GSAT11 and GSATN2 are specifically geared towards boosting Indias broadband servicesThese satellites are designed to enhance internet connectivity in underserved areas support inflight communication defence networks and disaster management Together they form the backbone of satellitebased broadband infrastructure in India complementing groundbased networks like BharatNetIndias satellite communication Satcom ecosystem is undergoing a transformative shift Traditionally dependent on the Geostationary Satellite GSAT of the Indian Space Research Organisation ISRO and other satellite operators series the sector is now witnessing more active private participation and the adoption of nextgeneration Low Earth Orbit LEO and Medium Earth Orbit MEO satellite systems The rollout of space sector reforms has enabled private sector participation in space activities India is moving towards LEO and MEObased satellite internet services to deliver faster and more reliable broadband services nationwide as a key driver of Digital India the statement explainedOver 10 satellite operators including the licensed Starlink have entered India with the private sector allowed up to 100 per cent FDIHowever internet penetration remains limited in certain regions of the country underscoring the need for satellite internet to complement existing networksSatellite internet refers to the internet service provided through satellites placed in Geostationary Orbits GSO or NonGeostationary Orbits NGSOFor realising the Digital India vision of a digitally inclusive nation satellite internet is an emerging technology with the potential to provide connectivity from space to any location This makes it particularly valuable for remote villages hilly terrains border areas and islands where terrestrial internet services are either difficult to reach or economically unviableThrough the power of space technology India is reinforcing its strategic autonomy and leadership in spacebased communications ensuring that the benefits of connectivity reach every citizen From operationalising HTS to enabling private participation in satellite communications the country is steadily bridging its digital divide the statement added IANS https://dailyworld.in/business/headcount-of-indias-internet-subscribers-crosses-1-002-million-during-apriljune-640173.html Tue, 23 Sep 2025 18:22:00 +0530 https://dailyworld.in/business/trai-recommends-allowing-private-fm-radio-to-broadcast-10-minutes-of-news-every-hour-640174.html New Delhi Sep 23 In a major move that could change the face of private FM radio in India the Telecom Regulatory Authority of India TRAI on Tuesday recommended that private FM radio operators be allowed to broadcast news and current affairs programmes for up to 10 minutes in every clock hour The regulator said the news content must follow the programme code prescribed by the central governmentPrivate FM Radio operators should be allowed to broadcast news and current affairs programmes limited to 10 minutes in each clock hour the telecom regulatory body saidIt also proposed that authorised FM operators be permitted to stream their radio programmes online at the same time but without usercontrolled features like download playback or replayThe authorised entity shall follow the programme code for news content as prescribed by the Central Government from time to time it addedThe recommendations were part of TRAIs detailed report on Reserve Prices for auction of FM Radio channels prepared after the Ministry of Information and Broadcasting MIB sought guidance on setting reserve prices for FM auctions in several citiesAfter issuing a consultation paper in August 2024 and holding an open house discussion in October TRAI finalised its recommendationsIt suggested that the reserve price for auction should be set at Rs 083 crore for Bilaspur Rs 120 crore for Rourkela and Rs 097 crore for RudrapurFor category E cities in hill states and border regions the reserve price should be Rs 375 lakh TRAI addedThe regulator also recommended that FM operators in category E cities should have a minimum net worth of Rs 30 lakh while existing net worth rules for other categories of cities should continueFor these smaller cities the annual authorisation fee should be 2 per cent of Adjusted Gross Revenue AGR for the first three years and then 4 per cent thereafter AGR TRAI clarified will be calculated after excluding GST from gross revenueTo support the financial health of FM radio operators TRAI suggested delinking the annual licence fee from the onetime entry fee offering more flexible payment options similar to spectrum auctionsIt also proposed that Prasar Bharati share its land towers and transmission infrastructure with private broadcasters at concessional rentals while fully recovering operational costs IANS https://dailyworld.in/business/trai-recommends-allowing-private-fm-radio-to-broadcast-10-minutes-of-news-every-hour-640174.html Tue, 23 Sep 2025 18:22:00 +0530 https://dailyworld.in/business/nearly-73-pc-rural-households-expect-income-growth-by-next-year-report-640188.html New Delhi Sep 23 Nearly 73 per cent of households in rural areas expect their income to grow by next year according to a report The report is based on a bimonthly survey conducted by the National Bank for Agriculture and Rural Development Nabard in SeptemberWhile this represents a rise from the 702 per cent of respondents expecting their income to rise a year ago it slightly declined from 747 per cent in July this yearIt is possible that Trump tariffrelated risks for the farm and nonfarm exports and the associated impact on rural income and employment might have dampened the sentiments of rural households expressed through this survey revealed the Nabard surveyFurther just 18 per cent of households reported a decrease in income over the last year in September It is the lowest level recorded since the survey began in September 2024 In comparison nearly 24 per cent of rural households reported a fall in income last yearHowever about 45 per cent of rural households reported stagnation in income the highest in all seven surveys conducted over the past yearIn September consumption among rural households also saw an increase more than 76 per cent In comparison in September 2024 more than 80 per cent of respondents had reported higher consumptionWhile the consumptionled buoyancy in the rural economy continues there is some slackening of momentum in recent months partly reflecting the impact of severe floods and landslides in a few states including Himachal Pradesh and Punjab Nabard saidA major part of the survey was completed before the announcement of the GST reduction on September 3 2025 Therefore household responses do not reflect the expected positive impact of the measure on consumption the report said IANS https://dailyworld.in/business/nearly-73-pc-rural-households-expect-income-growth-by-next-year-report-640188.html Tue, 23 Sep 2025 19:28:00 +0530 https://dailyworld.in/business/gst-20-brings-immense-excitement-amongst-car-buyers-dealers-640193.html LucknowMalkangiri Odisha Sep 23 A wave of excitement is sweeping across showrooms after the implementation of the new GST reform with a sharp rise in customer footfall and vehicle sales Shabir who booked a Hyundai Creta told IANS that the revised GST rates helped him save nearly Rs 70000Rs 80000 Ram Singh another buyer said that companies are now passing on the full GST benefits to customers He purchased a Hyundai i10 and saved about Rs 70000 compared to the earlier priceAccording to Asim Assistant General Manager at a Hyundai dealership in Lucknow the reform has received an overwhelmingly positive response The number of firsttime buyers is rising and with the GST benefits fully passed on prices have come down significantly he saidOther cities exhibit a similar level of enthusiasm Customers in Odishas Malkangiri reported that lower GST rates have made cars and twowheelers more reasonably priced than they were previouslyWith effect from September 22 the new GST rates have reduced the tax to 18 per cent for gasoline vehicles up to 1200cc and under four meters in length and diesel vehicles up to 1500cc and under four metersPreviously subject to 50 per cent GST larger vehicles will now only be subject to 40 per cent The tax rate for twowheelers up to 350cc has been lowered from 28 per cent to 18 per centMeanwhile shopkeepers wholesalers and every Indian household responded overwhelmingly to the GST 20 reforms which went into effect on MondayThe reformed tax regime which coincided perfectly with the first day of Navratri provided the general public with immediate relief on daily necessities simplified slabs and reduced pricesPM Narendra Modi called GST 20 a reform dedicated to the people of India and true to his words it felt less like a dry policy change and more like a festive bonanza Car showrooms witnessed serpentine queues online carts overflowed with orders and buzzed with recordbreaking festive sales IANS https://dailyworld.in/business/gst-20-brings-immense-excitement-amongst-car-buyers-dealers-640193.html Tue, 23 Sep 2025 19:36:00 +0530 https://dailyworld.in/business/new-niti-aayog-report-delves-deeper-into-indias-innovation-story-640194.html New Delhi Sep 23 NITI Aayog on Tuesday a landmark report capturing Indias remarkable journey in science technology and innovation providing a detailed assessment of the countrys achievements challenges and opportunities to strengthen its position as a global innovation hub The report provides a holistic view of Indias innovation ecosystem encompassing national and state initiatives industry and grassroots innovations startups universityindustrygovernment collaborations and Indias positioning in global innovation rankings It also identifies systemic challenges and lays out a forwardlooking roadmap that includes scaling successful models fostering deep technology innovation strengthening knowledge creation enhancing global integration and building innovation capacity across states At the launch of the report titled Pathways to Progress Analysis and Insights into Indias Innovation Story Dr Deepak Bagla Mission Director Atal Innovation Mission AIM elaborated on the transformative role of AIM in nurturing entrepreneurial talent fostering innovation at scale and creating a vibrant startup culture across the countryDr VK Saraswat Member NITI Aayog emphasised the strategic importance of science technology and innovation in shaping Indias development trajectory He noted that the report provides critical evidencebased insights that can guide policymaking strengthen institutional linkages and enhance collaboration between academia industry and governmentUnion Minister Dr Jitendra Singh emphasised that innovation in India is pervasive and not confined to frontier technologies alone He highlighted the governments initiatives to advance research promote technology development and facilitate the commercialization of innovations across all sectors He also underscored the importance of inclusive and contextdriven innovation that addresses realworld challenges while strengthening Indias overall capacity to compete globally and drive sustainable equitable growth said NITI AayogEducation Minister Dharmendra Pradhan underscored Indias progress in building a robust innovation ecosystem and stressed the importance of positioning Bharat as a global brand of excellence in knowledge science and technology He called for harnessing Indias youth talent and institutional strengths to drive innovation that is both scalable and inclusive IANS https://dailyworld.in/business/new-niti-aayog-report-delves-deeper-into-indias-innovation-story-640194.html Tue, 23 Sep 2025 19:37:00 +0530 https://dailyworld.in/business/vande-bharat-sleeper-train-to-be-launched-soon-ashwini-vaishnaw-640196.html New Delhi Sep 23 IANS Railway Minister Ashwini Vaishnaw on Tuesday said the Vande Bharat Sleeper trains will be launched soon as the second train is likely to be completed by the middle of next month while the first train is ready for use after having undergone the required tests and trial runsnbspThe two trains have to be launched together to ensure regular services on an overnight journeynbspThe first train has cleared all the tests and trial runs and is currently at Delhis Shakur Basti Coaching Depot officials saidnbspBriefing the media Vaishnaw said that the second train is being manufactured and will possibly be ready by October 15Both the trains will be launched together he saidnbspThe minister emphasised that the second train is important to maintain the continuity of regular servicesnbspThats why we are waiting for a second rake Once we get it we will decide on any route and start operations Vaishnaw addednbspMeanwhile expectations are that the trains will be launched on the New DelhiPatna route against the backdrop of the upcoming Bihar Assembly elections voting for which is scheduled to take place at the end of the yearManufactured by BEML using Integral Coach Factory ICF technology the Vande Bharat Sleeper train will comprise 16 coaches segmented into AC First Class AC 2Tier and AC 3Tier It will be able to carry 1128 passengers and operate at a top speed of 180 kmph making it one of the fastest overnight train services in the countrynbspThe train promises worldclass amenities such as integrated reading lights with USB charging automated announcement and visual information systems security cameras modular pantries and disabledfriendly berths and toiletsVaishnaw and Minister of State for Railways Ravneet Singh Bittu also briefed journalists on the railway projects in PunjabnbspThe minister said the upcoming 18kilometre RajpuraMohali line will connect the area to Chandigarh via the shortest route on the AmbalaAmritsar main linenbspBesides providing direct connectivity between Rajpura and Mohali and reducing travel distance by approximately 66 km the railway line will also ease traffic on the existing RajpuraAmbala route and shorten the AmbalaMorinda linkVaishnaw said the Railway Ministry has also proposed to launch a new Vande Bharat train between New Delhi and Firozpur Cantonment which will cover the Faridkot Bhatinda W Dhuri Patiala Ambala Cantonment Kurukshetra and Panipat stationsnbspAccording to the Railways the train will cover a distance of 486 kilometres between Delhi and Firozpur Cantonment in 6 hours and 40 minutesnbspVaishnaw said I will request the Prime Minister to approve the FirozpurDelhi Vande Bharat train https://dailyworld.in/business/vande-bharat-sleeper-train-to-be-launched-soon-ashwini-vaishnaw-640196.html Tue, 23 Sep 2025 19:48:00 +0530 https://dailyworld.in/business/govt-bonds-worth-rs-32-000-crore-coming-up-for-sale-on-september-26-640004.html New Delhi Sep 22 The Finance Ministry on Monday announced the sale of government bonds worth 32000 crore in two lots through auctions to be conducted by the Reserve Bank of India RBI in Mumbai on Friday September 26 The first lot comprises 668 per cent Government Security 2040 for a notified amount of 16000 crore while the second lot consists of 690 per cent Government Security 2065 also for a notified amount of 16000 croreBoth the lots will be sold through a price based auction using multiple price method the official statement saidThe Government of India will have the option to retain additional subscription up to 2000 crore against each security mentioned above The auctions will be conducted by the Reserve Bank of India Mumbai Office Fort Mumbai on FridayUp to 5 per cent of the notified amount of the sale of the securities will be allotted to eligible individuals and institutions as per the Scheme for NonCompetitive Bidding Facility in the Auction of Government SecuritiesBoth competitive and noncompetitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution EKuber system on September 26 2025The noncompetitive bids should be submitted between 1030 AM and 1100 AM and the competitive bids should be submitted between 1030 AM and 1130 AMThe result of the auctions will be announced on September 26 and payment by successful bidders will be on September 29 MondayThe Securities will be eligible for When Issued trading in accordance with the guidelines on When Issued transactions in Central Government Securities issued by the Reserve Bank of India vide circular No RBI20181925 dated July 24 2018 as amended from time to timeA government bond represents debt issued by a government and sold to investors to support spending Government bonds are considered lowrisk investments since the government backs them Because of their relatively low risk government bonds typically pay low interest rates IANS https://dailyworld.in/business/govt-bonds-worth-rs-32-000-crore-coming-up-for-sale-on-september-26-640004.html Mon, 22 Sep 2025 21:09:00 +0530 https://dailyworld.in/business/centre-secures-125-million-adb-loan-to-upgrade-urban-services-in-assam-640015.html New Delhi Sep 22 The Government of India and the Asian Development Bank ADB signed a 125 million loan agreement on Monday to enhance urban livability and bolster climate resilience in six district headquarters and Guwahati in Assam The project will benefit 360000 residents of Assam by delivering continuous metered water supply and upgrading stormwater management systems It also seeks to strengthen urban governance through institutional reforms and capacity buildingKey infrastructure investments in the Assam Urban Sector Development Project include the construction ofsix water treatment plants with a combined capacity of 72 million litres per day and 800 km distribution pipelines in the district headquarters of Barpeta Bongaigaon Dhubri Goalpara Golaghat and Nalbari The project will also deploy a realtime monitoring system aiming to maintain nonrevenue water below 20 per centIn Guwahati the project will enhance stormwater management in the Bahini Basin with flood diversion channels upgraded drainage systems and a naturebased retention pond to reduce flood discharge and improve groundwater rechargeThe project also includes the establishment of the Assam State Institute for Urban Development in collaboration with the Indian Institute of Technology Guwahati Additionally it will roll out a GISbased property tax database digital water billing systems and a volumetric water tariff structure across project towns to improve financial sustainability and service deliveryA strong emphasis on supporting women and girls and social inclusion is embedded in the project Activities include training women selfhelp groups in water operations establishing internships for collegeage women and conducting school outreach programmes to promote awareness of water sanitation and hygieneThe signatories to the loan agreement for the Assam Urban Sector Development Project were Juhi Mukherjee Joint Secretary Ministry of Finance on behalf of the Government of India and Mio Oka Country Director India Resident Mission for ADB IANS https://dailyworld.in/business/centre-secures-125-million-adb-loan-to-upgrade-urban-services-in-assam-640015.html Mon, 22 Sep 2025 22:13:00 +0530 https://dailyworld.in/business/i-urge-all-to-join-pm-modis-call-for-swadeshi-by-adopting-indigenous-products-amp-services-vaishnaw-640025.html New Delhi Sep 22 Union Minister Ashwini Vaishnaw on Monday announced that he is moving to Zoho a homegrown platform for documents spreadsheets and presentations Sharing the update on social media platform X he urged people to join Prime Minister Narendra Modis call for Swadeshi by adopting indigenous products and servicesI am moving to Zoho our own Swadeshi platform for documents spreadsheets amp presentations he wrote on XI urge all to join PM Narendra Modis call for Swadeshi by adopting indigenous products amp services Vaishnaw addedThe appeal comes just after Prime Minister Modi in a letter to the people of India urged citizens to support MadeinIndia products during the festive seasonPM Modi linked the move to the vision of Viksit Bharat 2047 and said buying swadeshi goods not only strengthens the economy but also helps local artisans workers and industriesEvery time you buy a product made by our artisans workers and industries you are helping families earn their living and creating job opportunities for our youth the Prime Minister had said while also encouraging traders to promote local goodsIn his message PM Modi highlighted that this years festive season has an added reason to celebrate with the launch of GST Bachat Utsav made possible by the Next Generation GST reformsThese reforms he said would reduce household expenses ease business operations and accelerate growth across all sections of society including farmers women youth traders and MSMEsThe Prime Minister also recalled the rollout of GST in 2017 as a turning point that freed citizens and businesses from the complexities of multiple taxes bringing relief under the idea of One Nation One TaxVaishnaws announcement to shift to Zoho reflects the governments broader push to adopt indigenous platforms and promote selfrelianceIt is also seen as a message to citizens to increasingly prefer swadeshi services and products in their daily lives in line with the Prime Ministers call for selfreliance and inclusive growth IANS https://dailyworld.in/business/i-urge-all-to-join-pm-modis-call-for-swadeshi-by-adopting-indigenous-products-amp-services-vaishnaw-640025.html Mon, 22 Sep 2025 22:19:00 +0530 https://dailyworld.in/business/nse-to-hold-diwali-muhurat-trading-session-on-october-21-640027.html New Delhi Sep 22 The National Stock Exchange NSE on Monday announced that it will conduct a special onehour Muhurat Trading session on October 21 on the occasion of Diwali to mark the beginning of the new Samvat year According to the exchange circular the trading window will open at 145 pm and close at 245 pm while a 15minute preopen session will be held from 130 pm to 145 pmTrade modifications will be allowed until 255 pm and all trades executed during the session will carry settlement obligations similar to regular trading hoursStock markets remain closed on Diwali Lakhsmi Puja but the symbolic Muhurat session is conducted annually to mark the start of the Vikram Samvat year in the Hindu calendarThis year the session coincides with the beginning of Samvat 2082The session will take place in the afternoon instead of the evening as is customary A similar session is anticipated to be held by the Bombay Stock Exchange BSE though the exact time has not yet been disclosedMuhurat trading is considered auspicious by traders and investors who believe that participating in the market during this period brings financial growth and prosperityWhile the session lasts for just an hour markets are typically volatile and sentiment often plays a larger role than profitability in trading decisionsTraders use this window to engage in both symbolic and meaningful trades with the belief that the practice will usher in wealth and good fortune in the new financial yearOver the years the Muhurat session has become a significant cultural and financial tradition blending market activity with festive celebrations and reflecting the enduring role of sentiment and optimism in Indian stock markets IANS https://dailyworld.in/business/nse-to-hold-diwali-muhurat-trading-session-on-october-21-640027.html Mon, 22 Sep 2025 22:20:00 +0530 https://dailyworld.in/business/despite-short-term-challenges-gst-20-will-yield-benefits-to-consumers-and-industry-640033.html New Delhi Sep 22 There has been a general reaction of relief and welcome with the new Goods and Services Tax GST slabs coming into effect beginning from Monday Essential goods healthcare insurance consumer durables and agricultural inputs now enjoy lower rates while luxury and sin goods are taxed at 40 per centThe reform aims to reduce the cost of living for households support manufacturing agriculture and servicesThis festive season lets celebrate the GST Bachat Utsav Lower GST rates mean more savings for every household and greater ease for businesses Prime Minister Narendra Modi posted on his X handle on Monday eveningCentral Board of Excise and Customs CBEC former Chairman Sumit Dutt Majumder said that GST 20 has some changes with a lesser number of slabs As a Member Central Excise and then Chairman of the CBEC he was associated with the preparations for the earlier GST regime He had also presented his views to the then Select Committee of the Rajya Sabha on the GST Constitution Amendment BillEven by the earlier GST regime in interstate transactions the destination state gets the money While the tax collection is done by the Centre there are rules laid out for transferring the money to states Majumder the author of two books on GST addedGST Networks GSTN first Chairman Navin Kumar also stressed the rules that are followed in transferring prescribed amounts to statesIn the previous regime too some states had apprehended losses Thus the Centre introduced compensation When the collection started growing these compensations were withdrawn he addedThough the earlier fiveyear compensation window ended in 2022 the Centre may introduce ad hoc transfers or cess adjustments to blunt state revenue shocksIt may also absorb part of the potential GST revenue loss initially to maintain national fiscal stability leveraging higher taxes on luxury and sin goods and broader compliance measuresTax collection on goods with lower GST rates is expected to fall initially because rates are now lower on many items According to the government the potential revenue shortfall without any buoyancy in volumes will be Rs 48000 crore a yearTherell be an initial effect but Im sure that with the restructured GST regime there will be an increase in revenue Kumar saidLower GST on essentials is expected to boost consumption particularly through increased sales of durables automotives and housing materialsAlso shortterm challenges are possible due to transition issues IT system challenges and workingcapital pressures especially among SMEsI think there should have been a transition period reflected MajumderIn branded products the prices are fixed So it will take time to adjust to the rates introduced today he pointed outHowever Kumar pointed out that there are mechanisms that can address such aspectsIf stock bearing earlier retail prices remains unsold after the revised GST rate came into effect rules prescribe that a revised MRP be put on it Thus both old and new prices are visible on the productTransitional issues such as preexisting inventory credits are addressed via postimplementation filing eg GSTR3B or monthly selfdeclaration return to be filed by October 20 to avoid input tax credit ITC mismatches discrepancy between the tax credit claimed by the recipient and the details furnished by the supplier but no general delay is provided IANS https://dailyworld.in/business/despite-short-term-challenges-gst-20-will-yield-benefits-to-consumers-and-industry-640033.html Mon, 22 Sep 2025 23:20:00 +0530 https://dailyworld.in/business/gst-reforms-will-boost-purchasing-power-and-benefit-all-sectors-traders-640041.html New Delhi Sep 22 Traders and business owners on Monday welcomed the next generation GST reforms saying the changes will increase purchasing power lower prices of essential items and give a big push to the economy They also praised Prime Minister Narendra Modi for introducing the measures during the festive seasonSK Sarda a branded clothing store owner said that the new GST framework has simplified the system and corrected earlier problems of multiple taxesHe pointed out that the government has already collected nearly Rs 55 lakh crore through GST which is being used for national development and defence purposesThe new reforms will put more money in peoples hands About Rs 25 lakh crore will flow into the market and this amount will multiply three times as it rotates through the economy This will create a turnover of nearly Rs 7 lakh crore giving a major boost to employment and income across different sectors he addedRamesh Periwal who runs a diagnostics business in Sikkim and is also president of the local Chemists Association said the reforms will be especially beneficial for the health sectorMedicines have become much cheaper Some drugs are now under zero tax while others that were earlier taxed at 12 or 18 per cent have been brought down to 5 per cent he saidHospitals will also save on essential reagents and chemicals that are now taxed lower and the benefit will go directly to patients he addedPeriwal highlighted that the reforms will also give a strong push to tourism in Sikkim as hotel stays below Rs 7500 will now attract lower GSTTourism is the backbone of Sikkims economy and these changes will bring more visitors and boost the industry he saidSmall business owner Vinay Chandra said the decision to bring milk and other dailyuse food items under the zero per cent GST category is a major reliefEarlier many essentials had 5 per cent GST but now shifting them to zero will directly benefit poor families It will also reduce kitchen expenses and support household budgets he saidUnion Finance Minister Nirmala Sitharaman also visited Laxmi Nagar in the national capital after the implementation of the new GST reforms where she interacted with shopkeepers and customersSpeaking to the media during her visit the Finance Minister said The response to the GST reforms has been very positive Although it is a market holiday today many shops are open I observed that shopkeepers are passing on the benefits of GST reductions to their customersShe added that the Narendra Modi governments decision has brought relief to both the public and traders and people are happy with the reforms IANS https://dailyworld.in/business/gst-reforms-will-boost-purchasing-power-and-benefit-all-sectors-traders-640041.html Mon, 22 Sep 2025 23:27:00 +0530 https://dailyworld.in/business/stock-market-opens-marginally-lower-nifty-it-down-268-pc-639854.html Mumbai Sep 22 The Indian benchmark indices opened marginally lower on Friday despite positive global cues with IT stocks leading losses owing to some concerns over the new US H1B visa rules As of 926 am the Sensex was down 189 points or 023 per cent at 82772 and the Nifty was down 40 points or 016 per cent at 25286 Sensex and Nifty had opened with dips of 040 per cent and 033 per cent respectively but later cut down on the lossesIT giants such as Tata Consultancy Services TCS Infosys Wipro HCL Technologies Tech Mahindra and Coforge slipped in the morning tradeThe US government has clarified that visa holders returning to the country are exempt from the new 100000 fee which provided marginal relief to Indian IT companiesWhite House said the visa fee would be a onetime payment applicable only to new applications from the next lottery cycle MarchApril 2026 and not on renewalsThe broad cap indices Nifty Midcap 100 dipped 005 per cent and the Nifty Smallcap 100 lost 012 per centThe losers were Tech Mahindra TCS Tata Motors Apollo Hospitals and Dr Reddys LabsAmong sectoral indices Nifty IT the top loser lost 268 per cent Nifty Pharma down 045 per cent and Nifty Healthcare down 033 per cent also weighed down on the indices All other sectoral indices were trading with marginal gainsThe Nifty index has held firmly above the 25300 mark closing at 25327 in the previous session It continues to trade above its key moving averagesthe 20day 50day and 200day EMAsreaffirming the broader bullish undertoneAnalysts predicted that sentiment will remain positive as long as the index remains above these averages Immediate resistance is placed at 25500 followed by the 25600 and 25850 zones The support lies at 25150 and 25000 zonesThey said that the market is likely to exhibit mixed behaviour with the IT sector being affected by the H1B visa issue and domestic consumption themes responding positively to the potential increase in consumption from lower GST rates kicking in from todayAccording to them the present low interest rate regime will aid the consumption boost and will also facilitate an increase in credit demand boosting the profitability of financialsAsiaPacific markets mostly rose on Monday tracking Wall Streets gains from Friday and boosted by Chinas key lending rate decision that kept key rates unchangedIn the US markets Nasdaq has added 072 per cent the SampP 500 edged up 049 per cent and the Dow inched up 037 per cent in the last trading sessionMost of the Asian markets were trading in the green during the morning session While Chinas Shanghai index edged up 007 per cent and Shenzhen advanced 017 per cent Japans Nikkei added 145 per cent while Hong Kongs Hang Seng Index lost 082 per cent South Koreas Kospi added 106 per centOn Friday foreign institutional investors FIIs purchased equities worth Rs 390 crore while domestic institutional investors DIIs were net buyers of equities worth Rs 2105 crore IANS https://dailyworld.in/business/stock-market-opens-marginally-lower-nifty-it-down-268-pc-639854.html Mon, 22 Sep 2025 10:05:00 +0530 https://dailyworld.in/business/domestic-investors-buy-record-rs-53-lakh-crore-worth-equities-in-2025-to-date-beat-2024-total-639863.html New Delhi Sep 22 Even with a quarter remaining in 2025 domestic institutional investors have net bought a record Rs 53 lakh crore of equities surpassing the fullyear total of Rs 522 lakh crore in 2024 according to the stock exchange data Mutual funds were the largest driver of this buying spree purchasing Rs 365 lakh crore aided by monthly SIP inflows of more than Rs 25000 crore while their cash holdings remained elevated at Rs 198 lakh crore in AugustInsurance companies and pension funds added more than Rs 1 lakh crore with the remainder coming from portfolio managers alternative funds banks and other institutionsBut analysts suggest that early signs of slowdown in momentum are emerging as market returns stagnate and global headwinds weigh on sentimentDespite robust inflows from DIIs Indian equities have lagged global peers with the Sensex having gained just 2 per cent and the Nifty 4 per cent in 2025 in dollar terms compared with doubledigit advances in major Asian and Western marketsMarket onlookers doubt the sustainability of mutual fund inflows even as equity fund inflows were Rs 33430 crore in August and Rs 42702 crore in JulyThey took cues from rising redemptions from smallcap and thematic funds as investors booked profits and diverted money into real estate Further GST rationalisation and festive spending such as home renovation could put pressure on household savings limiting fresh allocations to equities as Indias consumption cycle enters a highgrowth phaseMeanwhile foreign institutional investors FIIs remained net sellers dumping Rs 180443 crore so far in 2025 after selling Rs 121 lakh crore last yearHowever FIIs have been consistently buying through the primary market even while selling through the exchanges and they have bought Rs 1559 crore worth of equities in SeptemberAs lacklustre earnings stretched valuations and uncertainty over US tariffs act as headwinds analysts feel that there is a high likelihood of above 15 per cent growth in corporate earnings in FY27 leading to a turnaround in FPI sentiments IANS https://dailyworld.in/business/domestic-investors-buy-record-rs-53-lakh-crore-worth-equities-in-2025-to-date-beat-2024-total-639863.html Mon, 22 Sep 2025 10:52:00 +0530 https://dailyworld.in/business/tn-milk-cooperative-aavin-yet-to-pass-on-gst-benefit-as-rivals-slash-prices-639867.html Chennai Sep 22 Consumers in Tamil Nadu may have to wait longer for cheaper ghee butter paneer and other dairy products as staterun Aavin has not revised its rates even after the Goods and Services Tax GST on such items was cut from 12 per cent to 5 per cent While Amul Karnatakas Nandini Keralas Milma and several private brands have reduced prices with effect from Monday Aavin outlets continued to sell at existing tagsAmul and Nandini along with Milma and other private dairies have lowered prices of ghee paneer butter ice cream chocolates and other products by Rs 25 to Rs 40 A litre of ghee for instance now retails at Rs 610 compared with Rs 650 earlier Amul has extended the cuts across more than 700 products while Nandini has applied them to about 15 items Milma has also reduced the prices of 100 items from MondayBy contrast outlets in Ambattur Anna Nagar Adyar Korattur and Thiruvanmiyur of Tamil Nadu milk cooperative Aavin said no directive had reached them to slash pricesOfficials from the Tamil Nadu Cooperative Milk Producers Federation TNCMPF which markets Aavin said that because its prices are calculated inclusive of GST a formal state order is required before any reduction can be implementedAs of late Sunday night no such instruction had been issued The absence of relief has disappointed Aavins customers ahead of the festival seasonWhen private brands reduce ghee and butter prices by Rs 20 Rs 30 per kg it is unfair for Aavin to sell at higher rates said a resident of Ambattur Instead of a cut the GST adjustment has effectively raised Aavins base price to keep the maximum retail price unchanged meaning consumers are paying slightly moreFranchise owners also admitted this situation had put them at a disadvantage compared to private competitorsAavin procures around 35 lakh litres of milk every day of which 89 lakh litres are converted into valueadded products Its annual product sales total about Rs 600 crore with festive periods contributing heavily during last years Deepavali season alone sales touched Rs 126 croreWith GST reductions already in place nationwide the state governments decision in the coming days will determine whether Aavin aligns its prices with other major cooperatives IANS https://dailyworld.in/business/tn-milk-cooperative-aavin-yet-to-pass-on-gst-benefit-as-rivals-slash-prices-639867.html Mon, 22 Sep 2025 11:32:00 +0530 https://dailyworld.in/business/kerala-fm-balagopal-warns-of-revenue-loss-as-new-gst-rates-come-into-effect-639868.html Thiruvananthapuram Sep 22 Kerala Finance Minister KN Balagopal on Monday said that states including Kerala had fully participated in the GST Councils recent decision to restructure tax slabs but warned that the reforms could lead to significant revenue loss for states The new GST regime effective from Monday introduces just two tax slabs 5 per cent and 18 per centAccording to the Union government nearly 99 per cent of goods will now fall under the 5 per cent bracketMilk products ghee butter paneer and ice cream are among the items that have seen price reductions with the Kerala Cooperative Milk Marketing Federation Milma announcing revised prices from Monday A litre of Milma ghee will cost Rs 45 less while 400 grams of butter will see a price cut of Rs 15 Paneer and ice cream will also be cheaperHowever Minister Balagopal cautioned that the benefits of tax cuts do not always reach consumers as many companies fail to pass them onEven Union Ministers admitted this concern After a few months prices may return to previous levels There has been no proper study to assess the longterm impact of these reforms he saidHe further noted that Kerala could lose anywhere between Rs 50000 crore and Rs two lakh crore annuallyIf states lose this much revenue in a year it will directly affect welfare pensions salaries and development projects States do not have alternate revenue sources and about 41 per cent of their total income comes from GST Without this the financial crisis will deepen Balagopal said adding that only if people continue to receive salaries can they benefit from lower pricesMeanwhile Keralas Finance Department clarified that although GST on lotteries has been increased from 28 per cent to 40 per cent ticket prices will remain unchanged Instead adjustments will be made in prize distribution and agent commissions with commission rates set to undergo a sharp reductionThe government has also announced that strict monitoring will continue to ensure that consumers actually benefit from reduced GST rates in the market IANS https://dailyworld.in/business/kerala-fm-balagopal-warns-of-revenue-loss-as-new-gst-rates-come-into-effect-639868.html Mon, 22 Sep 2025 11:47:00 +0530 https://dailyworld.in/business/indias-real-estate-investment-landscape-remains-resilient-in-h1-2025-attracting-3-billion-639892.html New Delhi Sep 22 India continues to stand out as a promising country within the Asia Pacifics APAC real estate investment landscape attracting significant capital inflows of 30 billion in the first half of 2025 H1 2025 a report said on Monday Foreign investments stood at 16 billion accounting for around 52 per cent of the investment in the sector during H1While the investment declined YearonYear YoY overall investor interest remained intact The foreign capital continued to dominate overall investments meanwhile domestic capital deployment gained significant traction surging 53 per cent YoY Colliers said in a reportAround 48 per cent of the real estate investments during H1 2025 came from domestic investorsIndia continues to stand out as a promising country within the Asia Pacifics real estate investment landscape Foreign investments remained strong at 16 billion and accounted for around 52 per cent of the institutional investments in India during H1 2025 said Badal Yagnik Chief Executive Officer Colliers IndiaInterestingly APAC investors accounted for over onethird of the foreign inflows into the country in the first half of the year reiterating Indias strategic importance in crossborder capital flows he addedWith strong demand for highquality spaces overhauling and simplification of GST regulations and anticipation of elevated consumption levels in the upcoming festive season institutional investors are confident about their India exposureReal estate investments in 2025 are likely to end on a high note with core assets like residential and office continuing to demonstrate high traction Yagnik saidResidential and office assets together drove over half of the investment inflows in H1 2025 with residential assets leading at 08 billionWithin the office segment institutional investors are increasingly acquiring developmental assets by partnering with local developersInvestments in earlystage activities like land acquisition and construction have also picked up a significant pace in recent timesAdditionally mixeduse and retail assets too saw a notable surge together accounting for more than 30 per cent of the real estate investments in India during H1 2025 up from 7 per cent share during the corresponding period in 2024 the report saidIndias prominence in the Asia Pacific region continues to grow driven by strong demand traction across real estate asset classes Investor confidence is reflected in its recent rise to fourth place in terms of crossborder capital deployment in land and development sites up from seventh position in the previous quarter said Vimal Nadar National Director amp Head of Research Colliers India IANS https://dailyworld.in/business/indias-real-estate-investment-landscape-remains-resilient-in-h1-2025-attracting-3-billion-639892.html Mon, 22 Sep 2025 13:15:00 +0530 https://dailyworld.in/business/lower-gst-rates-to-boost-hospitality-transport-and-cultural-sectors-639895.html New Delhi Sep 22 The revamped GST rates implemented from Monday will make the countrys tourism sector more affordable enhance public transport use and support artisans and cultural industries the government said Early this month the GST Council reduced the GST on hotels less than Rs 7500day from 12 per cent to 5 per cent without ITC GST on buses with a seating capacity of over 10 persons was brought down to 18 per cent from 28 per cent Similarly the GST on art and cultural goods was also reduced from 12 per cent to 5 per centThe reductions will strengthen the domestic tourism ecosystem promote cultural heritage and encourage investment in related sectors an official statement saidUnder the leadership of PM Modi these reforms align with the vision of sustainable and inclusive growth fostering job creation and investment in hospitality transport and traditional crafts while also accelerating the postpandemic recovery of Indias tourism sector it addedThe lower GST rates on hotels are expected to make hotel stays more affordable for middleclass and budget travellers It also aligns with Indias hospitality tax structure with international tourism destinations becoming more attractive for foreign touristsThe move is also expected to boost weekend travel pilgrimage circuits heritage tourism and ecotourism as well as encourage investment in new midsegment hotels homestays and guesthouses creating jobs and improving infrastructureThe revamped GST on buses cuts the upfront cost of buses and minibuses making them more accessible for fleet operators schools corporates tour providers and state transport undertakingsIt will help bring down ticket fares especially in semiurban and rural routes and encourage a shift from private vehicles to sharedpublic transport reducing congestion and pollutionIt will also support fleet expansion and modernisation improving comfort and safety standards in public transportFurther the GST reduction on art and cultural goods which applies to statues statuettes original engravings prints lithographs ornamental articles stone art ware and stone inlay work will provide direct support to artisans craftsmen and sculptorsThe move will also help preserve living traditions of temple art folk expression miniature painting printmaking and stone craftsmanship and promote Indian culture and craftsmanship globally integrating heritage economy with modern markets the government saidThese GST reductions reflect a strategic effort by the government to boost Indias tourism and cultural sectors by enhancing affordability supporting traditional artisans and encouraging sustainable transport the official statement saidBy fostering greater accessibility and preserving cultural heritage these measures are poised to generate significant economic growth create jobs and promote Indias image globally as a vibrant and inclusive destination it added IANS https://dailyworld.in/business/lower-gst-rates-to-boost-hospitality-transport-and-cultural-sectors-639895.html Mon, 22 Sep 2025 13:42:00 +0530 https://dailyworld.in/business/ultra-gas-amp-energy-ltd-emerges-as-largest-lng-autofuel-retailer-in-india-639897.html Mumbai Sep 22 Ultra Gas amp Energy Ltd UGEL an Essar venture has emerged as Indias largest private operator and highest dispensing LNG refuelling outlets RO with six stations operational across major freight corridors These ROs are strategically located in Bhilwara Rajasthan Anand Gujarat ChakanPune Maharashtra Jalna Maharashtra Toranagallu Karnataka and Vallam Tamil Nadu enabling efficient access to cleaner fuel across key industrial and logistics hubsAs a newage cleantech company UGEL is pioneering the development of Indias largest LNG fuelling network driving the transition toward sustainable and lowemission transportationUGEL is positioning itself at the forefront of Indias green mobility revolution by building a comprehensive LNG delivery ecosystem and offering costeffective lowcarbon fuel through its expanding network of retail outletsEach UGEL RO is also futureready with integrated infrastructure to support electric vehicle EV charging reinforcing the companys longterm vision of multifuel lowemission mobility solutionsBy enabling commercial fleets to shift away from highemission fuels to cleaner alternatives like LNG amp Electric UGEL is delivering both environmental and economic value to its customersUGEL aims to scale its network to 100 LNG retail outlets across India supported by a planned investment of Rs 900 crore Expansion is already in progress in key states including Gujarat Tamil Nadu Maharashtra Rajasthan Haryana Punjab Karnataka Odisha Chhattisgarh and Jharkhand laying the groundwork for a robust nationwide infrastructure that supports Indias clean energy and transport goalsMaqsood Shaikh Managing Director amp CEO Ultra Gas amp Energy Ltd said Our retail outlets are built to do more than just dispense fuel they are catalysts for a cleaner smarter logistics future Backed by robust infrastructure and intelligent energy solutions we are proud to lead Indias transition toward greener fuels and sustainable mobility At UGEL our vision is firmly rooted in innovation efficiency and environmental responsibilityStrategically placed to serve highdensity logistics zones these stations are accelerating the shift from diesel to LNG a cleaner and more efficient fuel for longhaul truckingEach UGEL station has a scalable capacity of 50 tonnes capable of refuelling up to 600 LNG trucks per month Each station can reduce up to 66000 tonnes of carbon dioxide emissions annually collectively reducing one million tonnes of COTo ensure uninterrupted operations UGEL has partnered with IOCL GAIL HPCL and other leading LNG suppliers with access to all major LNG terminals of India ensuring consistent fuel supply and enabling smooth scalability IANS https://dailyworld.in/business/ultra-gas-amp-energy-ltd-emerges-as-largest-lng-autofuel-retailer-in-india-639897.html Mon, 22 Sep 2025 13:43:00 +0530 https://dailyworld.in/business/us-h-1b-visa-fee-unlikely-to-dent-it-companies-margins-significantly-report-639903.html New Delhi Sep 22 The US governments order which restricts entry for H1B visa petitioners unless they pay a onetime fee of 100000 is unlikely to significantly impact large and midcap IT services firms in India a report said on Monday The restrictions can be addressed through increased local hiring subcontracting or offshoring a report from fund management firm Equirus saidThe restriction unless extended will remain effective for 12 months from September 21 2025 unless renewed and applies solely to new visa applicantsEquirus estimated that the fee would lower the operating profit margins of largecap IT companies by only 7 to 14 basis points if it only applies to new H1Bs and by 26 to 49 basis points if it includes new and existing visa holders outside the USMidcap firms would experience impacts ranging from 21 to 39 basis points for new applicants and 60 to 109 basis points if applied to new and existing visa holders outside the USAnalysts said that the Indian IT vendors have reduced their onsite H1B workforce over the past six to eight years Such visas form around 2535 per cent for most of the large caps and 3060 per cent for most of the others in our view the report saidRestrictionrelated payment of 01 million is in many cases higher than the salary of the H1B visa holders paid by many Indian IT vendorsHence we believe common sense will prevail in replacing those affected applicants by doing incremental hiring of locals or green card holders or subcontractors and doing offshoring the report saidHowever the fund management firm maintained that sales growth may decelerate slightly in the latter half of fiscal 2026 as the required pivoting needs proper planning or client approvalsApproximately 71 per cent of H1B visa holders are from India primarily working for technology companies including Infosys Wipro Cognisant and Tata Consultancy Services IANS https://dailyworld.in/business/us-h-1b-visa-fee-unlikely-to-dent-it-companies-margins-significantly-report-639903.html Mon, 22 Sep 2025 14:10:00 +0530 https://dailyworld.in/business/cpec-landed-pakistan-in-95-billion-debt-trap-639909.html New Delhi Sep 22 The ChinaPakistan Economic Corridor CPEC which Islamabad had envisaged as an economic gamechanger is actually turning out to be a costly venture as it has failed to achieve its targets and instead landed Pakistan in a 95 billion debt trap The initiative promised to give muchneeded economic impetus to Pakistan but quickly entered uncharted waters and became mired in countless controversiesThus CPEC has very few outcomes to showcase This delay has cost Pakistan dearly The overdue energy and infrastructure projects cost overruns and accusations of opaque contracts have cost the initiative its viability according to an article in The Diplomat news magazineAccording to economist Ali Hasanain an Associate Professor at Lahore University of Management Sciences CPECs original sin was that a large number of its projects relied on foreign currencies which ultimately clashed with Pakistans domesticoriented exchange rate and industrial policies narrowing the fiscal space for IslamabadCurrently Pakistan owes more than 75 billion for setting up power plants and additional nearly 2 billion to Chinese energy producers in circular debt or unpaid bills the article statesDue to the delay in CPEC 20 Pakistan has been unable to establish the industrial base needed to transform into an exportdriven economy and pay off its debts Consequently Pakistan had to seek more loans to pay past loans resulting in a prolonged debt crisisThe article points out that one of the main challenges to CPEC has been the political infighting in Pakistan In 2015 when Pakistan Muslim League Nawaz PMLN was in power it considered itself the chief architect of the initiative However the Opposition Pakistan TehreekeInsaf PTI accused the PMLN of corruption and inflating the cost of projectsIn 2018 the tables turned and the PTI came into the government It attempted to reduce Pakistans financial risk by asking the Chinese side to review all the contracts as the new government feared they were badly negotiated either overly expensive or on terms excessively favouring China However Beijing was prepared to review only those projects that had not been startedIn 2019 the PTI government engaged the International Monetary Fund IMF for a financial bailout to solve the Balance of Payment BOP crisis For this bailout Pakistan had to share details of CPEC with the IMF Pakistan also had to agree with IMF conditions like fiscal consolidation that in practice required slowing down the CPEC which ultimately angered the Chinese the article statesEthnic and provincial tension also had a fair share in slowing down CPEC These ethnic tensions also translated into security challenges with the Balochistan Liberation Army BLA in Balochistan and the TehreekeTaliban Pakistan TTP in Khyber Pakhtunkhwa mounting armed attacks against these projectsFrom 2021 until late 2024 for instance there were 14 attacks on the CPEC killing 20 Chinese citizens and injuring 34Most of these attacks were claimed by the BLA Similarly in Khyber Pakhtunkhwa the TTP is also targeting Chinese interests Since the US withdrawal from Afghanistan the TTP has rapidly increased the number of attacks in Pakistan the article points out IANS https://dailyworld.in/business/cpec-landed-pakistan-in-95-billion-debt-trap-639909.html Mon, 22 Sep 2025 14:37:00 +0530 https://dailyworld.in/business/indias-logistics-sector-to-triple-to-rs-120-trillion-by-2035-report-639916.html New Delhi Sep 22 Indias logistics sector is set to grow nearly threefold to around Rs 120 trillion over the next decade a new report said on Monday The growth will be driven by a wave of infrastructure investments government reforms and the formalization of the industry according to a report by Omniscience CapitalThe report highlights that Indias GDP is expected to rise from 42 trillion in 2025 to 10 trillion by 2035 with industry and agriculture contributing 4 trillion to this growthSince logistics costs account for about 30 per cent of Indias agriindustry GDP the logistics market is projected to touch 12 trillion or roughly Rs 120 trillion by 2035Ashwini Shami President and Chief Portfolio Manager at Omniscience Capital said the sector is on the verge of a multidecade boom supported by record public spending and reformsGovernment initiatives such as the National Infrastructure Pipeline PM Gati Shakti and the National Logistics Policy directly address the sectors inefficiencies he saidMeanwhile digitalisation and the Goods and Services Tax GST are accelerating the formalisation of the largely fragmented logistics industry he addedAccording to the report the governments infrastructure spending has already increased from 21 per cent of GDP in 2021 to 31 per cent in 2025 and is expected to touch 5 per cent by 2030Massive investments in roads railways and dedicated freight corridors along with projects like the IndiaMiddle EastEurope Economic Corridor IMEEC are expected to cut costs reduce transit time and strengthen Indias role in global tradeThe sectors growth will also be supported by rising manufacturing output under Make in India and ProductionLinked Incentive schemesAt the same time digitisation through platforms like the Unified Logistics Interface Platform eway bills and RFIDenabled tracking has improved efficiencyPolicies such as GST 20 and the National Logistics Policy are expected to formalise up to 60 per cent of the industry by 2035 compared to the current unorganised base of around 80 per cent IANS https://dailyworld.in/business/indias-logistics-sector-to-triple-to-rs-120-trillion-by-2035-report-639916.html Mon, 22 Sep 2025 15:07:00 +0530 https://dailyworld.in/business/centre-to-distribute-25-million-free-lpg-connections-under-ujjwala-yojana-this-navratri-639923.html New Delhi Sep 22 IANS The Centre will provide 25 million free LPG connections under the Pradhan Mantri Ujjwala Yojana PMUY during the festival of Navratri Union Minister for Petroleum and Natural Gas Hardeep Singh Puri announced on MondaynbspWith this addition the total number of Ujjwala beneficiaries will rise to 106 million families across the countrynbspThe Minister said that the government will spend Rs 2050 on each connection which will cover a free LPG cylinder gas stove regulator and other related equipmentnbspCalling it a Navratri gift for women Puri said the expansion of Ujjwala reflects Prime Minister Narendra Modis commitment to honouring womens powerWith the auspicious beginning of Navratri the gift of 25 million new free PM Ujjwala connections is yet another proof that PM Narendra Modi honours women just like Goddess Durga This decision further strengthens our resolve for the respect and empowerment of mothers and sisters he wrote in a post on XnbspThe Minister also praised the scheme as a symbol of empowerment and a source of transformationnbspHe said that Ujjwala has not only made kitchens smokefree but has also improved the health and lives of millions of women and their familiesIt is not just a scheme it has become a torch of a massive revolution whose flame has reached every corner of the nation even remote areas he addednbspPuri also referred to the Union Cabinets recent decision to provide a subsidy of Rs 300 on refills for over 1033 crore Ujjwala familiesnbspWith this subsidy cylinders are available at Rs 553 which he said is lower than the price in many LPGproducing countriesExpressing gratitude towards Prime Minister Modi he said the scheme has brought visible change in the lives of womennbspNo more stinging eyes no smoke in the breath and no blisters on the hands Instead there is the smile of happiness good health and the flavour of love he wrotenbspLaunched in May 2016 the Pradhan Mantri Ujjwala Yojana provides depositfree LPG connections to women from poor households Under Ujjwala 20 the first refill and stove are also given free of cost to beneficiaries https://dailyworld.in/business/centre-to-distribute-25-million-free-lpg-connections-under-ujjwala-yojana-this-navratri-639923.html Mon, 22 Sep 2025 15:20:00 +0530 https://dailyworld.in/business/small-cap-mid-cap-funds-lead-inflows-due-to-structural-tailwinds-regulatory-reforms-reports-639929.html New Delhi Sep 22 Retail investors are increasingly investing in Indias small and midcap mutual funds motivated by higher returns structural tailwinds and regulatory reforms a report said on Monday While midcap schemes recorded net inflows of Rs 5331 crore in August a 745 per cent increase YoY and smallcap funds saw inflows of Rs 4993 crore marking a 556 per cent rise YoY largecap funds only saw a net inflow of Rs 2835 crore marking a 75 per cent increase the report from ICRA Analytics saidThe net inflow of midcap and smallcap fund categories went up 5501 per cent and 2201 per cent respectively since the beginning of this financial yearNet AUM of midcap funds increased by 109 per cent on YoY basis at Rs 427 lakh crore while that of smallcap funds increased by 956 per cent YoY at Rs 351 lakh crore in August 2025 Net AUM of largecap funds increased by 586 per cent YoY at Rs 390 lakh croreLargecap companies are already mature and wellestablished Their growth is often incremental and tied to macroeconomic cycles In contrast small and midcap firms have greater room to expand innovate and capture market share leading to higher earnings growth said Ashwini Kumar Senior Vice President and Head Market Data ICRA AnalyticsFurther large caps often trade at higher valuations due to their perceived stability which may limit their upside potential However small and midcaps are frequently undervalued offering better pricetoearnings ratios and return on assets he addedKumar said that recent government initiatives supporting MSMEs improved corporate disclosures and stress testing have created a favorable environment for small and midcap companies to thriveAs of August 31 2025 oneyear returns 38 per cent for largecap funds 39 per cent for midcap funds and 64 per cent for smallcap fundsThreeyear returns were 135 per cent 196 per cent and 193 per cent for largecap midcap and smallcap funds respectively IANS https://dailyworld.in/business/small-cap-mid-cap-funds-lead-inflows-due-to-structural-tailwinds-regulatory-reforms-reports-639929.html Mon, 22 Sep 2025 15:42:00 +0530 https://dailyworld.in/business/gst-exemption-implemented-varanasi-locals-celebrate-savings-festival-639930.html Varanasi Sep 22 The new GST slab exemption announced by Prime Minister Narendra Modi has officially come into effect from Monday bringing visible relief to the citizens of his parliamentary constituency Varanasi Locals are celebrating the move as a Savings Festival marking a shift toward affordability and economic optimism From temple priests to restaurant owners and grocery shopkeepers the sentiment is unanimous this tax relief is a welcome gift especially as it coincides with the beginning of NavratriThis decision will definitely boost business and offer direct benefits to consumers said Sheetala Prasad Upadhyay a local restaurant owner Cheese butter pulses rice everything has become more affordableVinod Kannaujiya who runs a general store echoed the sentiment Reducing the GST is a great initiative Its a relief for common people and deserves to be celebrated as a Savings FestivalFor Tulsi a temple priest the timing of the announcement is spiritually significantOn the first day of Navratri this is great news GST has been reduced on natural items used in puja rituals This strengthens Sanatan Dharma I thank PM Modi for this he told IANSCitizens like Sunil Upadhyay view the change as a festive giftFrom day one of Navratri GST cuts will make daily essentials more affordable This is a huge benefit for the common manMeanwhile Indias revamped Goods and Services Tax system dubbed nextgeneration GST or GST Bachat Utsav was implemented reducing taxes on around 370 products including daily essentials and lifesaving medicinesUnion Finance Minister Nirmala Sitharaman announced that the overhaul aims to inject approximately Rs 2 lakh crore into the economy by increasing the disposable income of consumersOver 50 items including UHT milk khakhras prepackaged paneer and breads like chapatis and parathas will now fall under a zerotax bracket due to the new structureThirtythree essential drugs and therapies for conditions including cancer and rare diseases are now exempt from GST while the tax rate on numerous other medicines have been reduced from 12 per cent to zero Medical devices such as diagnostic kits and glucometers now incur a GST of just 5 per centThe levy on stationery items for schools and offices including erasers pencils notebooks and maps has been removed Prices for several consumer staples have dropped including butter biscuits condensed milk namkeen jams ketchup juices dry fruits ghee ice cream and sausagesDry fruits and nuts including almonds cashews pistachios and dates will now be taxed at 5 per cent instead of 12 per centCement for housing is now set at 18 per cent down from 28 per cent Services such as haircuts salon treatments yoga classes gyms and health clubs will also see reduced ratesAdditionally the zeroGST category now includes toiletries like soaps shampoos hair oil face creams and shaving creamGST on kitchen appliances and electronics including air conditioners televisions washing machines and dishwashers has been reduced to 18 per cent from 28 per centThe government has merged cess into the GST base and imposed a 40 per cent levy on sin and luxury goods to offset revenue lossesCigarettes bidis pan masala gutka and other tobacco products are subject to the highest tax rate along with aerated beverages such as CocaCola Pepsi and Fanta IANS https://dailyworld.in/business/gst-exemption-implemented-varanasi-locals-celebrate-savings-festival-639930.html Mon, 22 Sep 2025 15:43:00 +0530 https://dailyworld.in/business/worldwide-spending-on-ai-is-expected-to-be-nearly-15-trillion-in-2025-report-639935.html New Delhi Sep 22 Worldwide spending on artificial intelligence AI is expected to be nearly 15 trillion in 2025 up nearly 50 per cent up from 987904 in 2024 a report said on Monday Further the overall global AI spending is likely to top 2 trillion in 2026 led by AI integration into products such as smartphones and PCs as well as infrastructure according to a business and technology insights company Gartner Inc reportMirroring last years spending graph generative AI integration in smartphones would lead the spending at 298189 this year as well followed by AI services 282556 AIoptimised servers 267534 AI processing semiconductor 209192 AI application software 172029 and AI infrastructure Software 126177The forecast assumes continued investment in AI infrastructure expansion as major hyperscalers continue to increase investments in data centres with AIoptimised hardware and GPUs to scale their services said JohnDavid Lovelock Distinguished VP Analyst at GartnerThe AI investment landscape is also expanding beyond traditional US tech giants including Chinese companies and new AI cloud providers Furthermore venture capital investment in AI providers is providing additional tailwinds for AI spending he addedAccording to the report the AI spending would reach 202 trillion in 2026 following a similar growth trajectoryIn 2026 spending on Generative AI integration in smartphones is likely to be at 393297 Meanwhile the spending on AI Services would reach 324669 and for AIoptimised servers it would go around 329528Similarly AI processing semiconductor 267934 AI application software 269703 and AI infrastructure software 229885 will also put weight in spending on AIThe other segments attracting AI spending would be AI PCs by ARM and x86 AIoptimised IaaS and GenAI ModelsGartner providers equip tech leaders and their teams with rolebased best practices industry insights and strategic views into emerging trends and market changes to achieve their missioncritical priorities and build the successful organisations of tomorrow IANS https://dailyworld.in/business/worldwide-spending-on-ai-is-expected-to-be-nearly-15-trillion-in-2025-report-639935.html Mon, 22 Sep 2025 16:16:00 +0530 https://dailyworld.in/business/govt-warns-firms-against-not-passing-gst-cuts-to-consumers-639940.html New Delhi Sep 22 Consumer Affairs Secretary Nidhi Khare on Monday warned companies that they will face strict action if they fail to pass on the benefits of reduced Goods and Services Tax GST rates to consumers In an interview with NDTV Profit Khare said that any company not reflecting the revised GST rates in their prices will be treated as indulging in unfair practiceShe added that the government is fully equipped to monitor complianceIf we feel reduced GST hasnt been passed on it will be treated as an unfair practice We will take class action against those who dont pass on GST benefits she said assuring that consumer complaints will also be addressed promptlyThe warning comes as the new GST structure came into effect on Monday reducing taxes on around 370 items including essential goods and lifesaving medicinesFinance Minister Nirmala Sitharaman had earlier said that the new system aims to inject nearly Rs 2 lakh crore into the economy by boosting the spending power of householdsEveryday food products such as UHT milk paneer chapatis parathas butter biscuits namkeen ketchup and juices have become cheaper under the revised structureToiletries like soaps shampoos and hair oil along with stationery items such as notebooks and pencils now attract no GSTEssential drugs for cancer and rare diseases have been exempted while the GST rate on diagnostic kits and glucometers has been reduced to just 5 per centCement for housing has also seen a major cut dropping from 28 per cent to 18 per cent Even services such as salons gyms and yoga classes now come under lower GST bracketsHowever items such as tobacco pan masala and aerated beverages remain in the highest tax category at 40 per cent while large SUVs and MPVs have also been brought into the same bracket to offset revenue lossesWith prices of essentials medicines and household goods falling officials say that the move is expected to improve consumption and boost the economy in the coming months IANS https://dailyworld.in/business/govt-warns-firms-against-not-passing-gst-cuts-to-consumers-639940.html Mon, 22 Sep 2025 16:52:00 +0530 https://dailyworld.in/business/piyush-goyal-in-washington-for-india-us-trade-talks-639941.html Washington Sep 22 Union Minister for Commerce and Industry Piyush Goyal was in Washington on Monday to move ahead with the trade talks with a view to achieving an early conclusion of a mutually beneficial IndiaUS Bilateral Trade Agreement Goyals trip to the US capital follows the visit of the US team of officials to Delhi on September 16 The Commerce Ministry said that during the visit of the team of officials from the office of the United States Trade Representative to India positive discussions were held on various aspects of the trade deal and it was decided to intensify efforts in this regardOn September 16 a US delegation led by Assistant US Trade Representative for South and Central Asia Brendan Lynch met Indian trade officials headed by Chief Negotiator Rajesh Agrawal in New Delhi amid the thaw in relations following President Donald Trumps conciliatory postureLynchs visit came against the backdrop of heightened expectations of a trade deal following positive messages by President Trump and Prime Minister Narendra Modi after days of a bitter stalemateTrump said on a Truth Social post on September 9 that talks were continuing and I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great CountriesCalling PM Modi a great friend he said he would be talking to himPM Modi responded to Trumps post saying I am confident that our trade negotiations will pave the way for unlocking the limitless potential of the IndiaUS partnership He added that he was looking forward to talking with TrumpHowever it is not clear as yet to what extent the US announcement of a 100000 fee on H1B visas which will adversely impact Indian IT engineers working in the US will influence the trade talks The 25 per cent penal tariff imposed on India over Russian oil imports is another issue that has been posing problemsUS Ambassador to Indianominee Sergio Gor told a Senate panel considering his nomination last week that Indias Commerce Minister was expected in Washington and would meet US Trade Representative Jamieson Greer IANS https://dailyworld.in/business/piyush-goyal-in-washington-for-india-us-trade-talks-639941.html Mon, 22 Sep 2025 16:52:00 +0530 https://dailyworld.in/business/gautam-adani-asks-group-staff-to-accelerate-pace-of-growth-as-sebi-lifts-hindenburg-cloud-639956.html New Delhi Sep 22 IANS Adani Group Chairman Gautam Adani has urged the Group staff to accelerate the pace of innovation and drive bold advances in energy logistics and other infrastructure that push the very edges of possibility as the cloud of the Hindenburg case over the conglomerate has been lifted with the SEBI verdict rejecting the allegations of the US shortsellernbspWe must build not for todays applause but for a legacy that endures for decades Headlines fade but what we create must leave its mark on history Gautam Adani said in a letter to the Groups staffnbspToday a cloud that had hung over us for more than two years has been lifted SEBIs comprehensive investigation has concluded by rejecting all allegations contained in the Hindenburg report from January 2023 the letter statesAdani Group repeatedly denied the allegations made by USbased Hindenburg Research which ironically itself came under a cloud due to its controversial shortselling practices and had to shut down its operations amid widespread criticism in the American pressnbspThe SEBI ruling states that the matter has been considered holistically and the allegations made against the Adani Group are not establishednbspGautam Adani called the allegations part of a targeted multidimensional assault and lauded his employees for maintaining operational momentum despite global scrutiny This attack was never just a market event he remarkedHe praised the groups workforce for continuing to execute major infrastructure projects during the scrutiny Ports power plants airports and renewable energy projects continued to expand as the group faced reputational and legal pressurenbspWhile the world debated about us our ports expanded transmission lines stretched farther power plants ran reliably renewable projects continued to green the world airports advanced cement furnaces fired away and logistics teams delivered flawlessly he said You proved that execution under pressure is the truest test of character and that the Adani character is simply unbreakableGautam Adani further stated in his letter that the Adani Group had emerged stronger and laid out future priorities including a focus on transparency innovation longterm value creation and transformationnbspIntegrity and transparency must remain the foundation of everything we do inseparable uncompromising and safeguarded relentlessly he saidnbspOther priorities will include accelerating innovation in energy logistics and infrastructure building a legacy that endures for decades beyond headlines and embracing transformation to shape the future rather than be shaped by it he stressedAsking employees to embrace transformation he said the future will march forward with or without us Either we shape the future into what we dream or be shaped by the future into what we fearnbspGautam Adani also struck an emotional chord in thanking the Groups staff for supporting him through the ordealnbspI know the quiet anxieties your families felt the doubts even you may have felt at times and yet day after day you showed upyou fought for my beliefs he remarkednbspHe pointed to the groups operational resilience noting that while the world debated about us our ports expanded transmission lines stretched farther power plants ran reliably renewable projects continued to green the world airports advanced cement furnaces fired away and logistics teams delivered flawlesslyGautam Adani also referred to the controversy as an agnipariksha saying every crisis deepens foundations and strengthens resolve He warned employees that more tests would follow but urged them to draw confidence from the groups performance under pressurenbspThe crisis rattled global investors prompted questions from the Supreme Court and led to the SEBI initiating multiple investigations While Hindenburg subsequently ceased operations in January 2025 under what Adani called mysterious circumstances the shadow of its allegations lingered until the regulators latest findingsDespite facing credit downgrades and investor scepticism in early 2023 the group has since regained market value bolstered by strategic equity investments from global firms including GQG Partners and the Abu Dhabibased International Holding Company What also helped was the paring of debt and resumption of expansion in the core infrastructure businessnbspAs of Monday shares of Adani Enterprises Ltd have surged more than 80 per cent to outperform the Nifty 50 IndexLet history remember the past three years as the spark that built a greater Adani an Adani that stood taller in dignity with every challenge it quietly overcame And let our resolve echo echo through every barrier we dared to break echo through every tomorrow we dared to build echo through every dream we dared to chase And may the name Adani forever stand for courage conviction and a promise we all kept to our motherland Bharat Gautam Adani saidnbspHe urged employees to let the groups story stand for courage conviction and a promise we all kept to our motherland Bharat and signed off with Satyameva Jayate Jai Hind https://dailyworld.in/business/gautam-adani-asks-group-staff-to-accelerate-pace-of-growth-as-sebi-lifts-hindenburg-cloud-639956.html Mon, 22 Sep 2025 17:10:00 +0530 https://dailyworld.in/business/stock-market-ends-lower-after-volatile-session-amid-it-selloff-h-1b-visa-concerns-639959.html Mumbai Sep 22 The Indian benchmark indices ended in negative territory on Monday after a volatile session The IT stocks dragged the market in the early trade after the US administration announced 100000 fee for new H1B visas However the market rebounded quickly buoyed by GST reforms that came into effect from MondaySensex ended the session at 8215997 down 46626 points or 056 per cent The 30share index started the session in red at 8215107 against last sessions closing of 8262623 amid a sharp decline in IT stocks However the GST reforms that came into effect from Monday restricted the index from dragging furtherNifty closed at 2520235 down 12470 points or 049 per centThe day began on a weak footing as negative global cues and concerns over the 100000 H1B visa fee for new applicants dampened sentiment Benchmark indices opened with a gapdown start mirroring the cautious mood in global markets Despite the weak opening the market quickly filled the gap and attempted a recovery Ashika Institutional Equities said in its noteHowever selling pressure resurfaced dragging the Nifty to its intraday low as profitbooking dominated the latter half of the session the note addedTech Mahindra TCS Tata Motors Trent HCL Tech Sun Pharma SBI LampT ITC BEL Maruti Suzuki and Kotak Bank were the top losers from the Sensex basket While Eternal Bajaj Finance Adani Ports Ultratech Cement Hindustan Unilever and Axis Bank settled higherThe majority of Sectoral indices ended the session in negative territory amid selling pressure Nifty Bank fell 17410 points Nifty Auto slipped 65 points or 024 per cent Nifty FMCG settled 266 points or 047 per cent lower and Nifty IT closed 1078 points or 295 per cent lowerThe broader market followed suit as well Nifty Small Cap 100 dipped 215 points or 117 per cent Nifty Midcap 100 fell 394 points or 067 per cent and Nifty 100 ended the session 91 points or 035 per cent lower IANS https://dailyworld.in/business/stock-market-ends-lower-after-volatile-session-amid-it-selloff-h-1b-visa-concerns-639959.html Mon, 22 Sep 2025 17:36:00 +0530 https://dailyworld.in/business/atal-community-innovation-centres-grassroot-visionaries-shaping-self-reliant-india-niti-aayog-639962.html New Delhi Sep 22 The Atal Innovation Missions AIM Community Innovator Fellows CIFs are grassroot visionaries that are shaping up a selfreliant India said Niti Aayog on Monday The AIM marked the graduation of its fifth cohort It has so far supported a total of 100 CIFsThe Atal Community Innovation Centres are not merely incubators of ideas they are transformative ecosystems that empower local innovators to turn their vision into reality driving sustainable development and societal progress said Dr Deepak Bagla Mission Director AIM Niti AayogBagla celebrated the CIF programme for its remarkable impact noting its role in empowering innovators who serve as role models for their communities and society at largeThe Community Innovator Fellows are the torchbearers of change exemplifying resilience creativity and an indomitable spirit Their innovations are not just solutions they are a testament to the power of grassroots ingenuity in shaping a selfreliant and prosperous India he saidThe Community Innovator Fellows programme a cornerstone of AIMs Atal Community Innovation Centres ACICs is dedicated to empowering innovators in unserved and underserved regions of the nation This initiative underscores AIMs resolute commitment to nurturing entrepreneurial spirit and driving societal progress through localized innovation by building a selfreliant nationDr Bagla highlighted the pivotal role of ACICs in catalysing innovation at the grassroots level particularly in Tier 2 and Tier 3 citiesHe emphasised that these centres serve as beacons of hope fostering solutions that address pressing challenges in critical sectors such as healthcare education agriculture and financial servicesThe Atal Innovation Mission a flagship initiative by NITI Aayog remains steadfast in its mission to foster a vibrant ecosystem of innovation and entrepreneurship across IndiaThe graduation of the fifth cohort of CIF stands as a testament to AIMs vision of empowering every citizen to contribute to a sustainable and inclusive future IANS https://dailyworld.in/business/atal-community-innovation-centres-grassroot-visionaries-shaping-self-reliant-india-niti-aayog-639962.html Mon, 22 Sep 2025 17:38:00 +0530 https://dailyworld.in/business/gst-reform-to-boost-gdp-by-rs-20-lakh-crore-ashwini-vaishnaw-639967.html New Delhi Sep 18 IANS Union Electronics and IT Minister Ashwini Vaishnaw on Monday said that the simplification of the Goods and Services Tax GST framework will make doing business in India easier and boost overall demand adding nearly Rs 20 lakh crore to the countrys GDPnbspSpeaking to the media Vaishnaw stated that the reform is being welcomed nationwide because it enables people to save a greater portion of their income and makes the majority of everyday necessities more affordablenbspTargeting the opposition the minister said that while there was only talk and no action under the UPA administration the NDA government has provided tangible relief through the GSTHe gave several examples of lower tax rates including the following cement which previously had a 30 per cent tax is now subject to an 18 per cent tax sanitary pads which were previously subject to a 13 percent tax are now completely exempt footwear which was previously subject to an 18 percent tax is now only 5 per cent refrigerators are now only 18 percent taxed and detergents are no longer taxednbspTaxes on almost 370 items including everyday necessities and lifesaving medications have been reduced overall Previously subject to 5 12 or 18 per cent GST several items are now taxfreenbspUnion Finance Minister Nirmala Sitharaman has said that the reform will inject an additional Rs 2 lakh crore into the economy by enhancing consumers disposable incomeUnder the new structure GST slabs have been reduced from four 5 12 18 and 28 per cent to two 5 per cent and 18 per cent A special 40 per cent rate will apply to luxury and sin goodsnbspUnion Minister Ramdas Athawale also lauded the reforms and said they would take Indias economy to greater heightsnbspSpeaking to IANS he said I believe that Prime Minister Narendra Modi has taken several good decisions in his 11 years but this decision to reduce GST will take the countrys economy to new heights This decision to reduce GST will be very beneficial for the common mannbspHe also stressed the Prime Ministers appeal to encourage local businesses https://dailyworld.in/business/gst-reform-to-boost-gdp-by-rs-20-lakh-crore-ashwini-vaishnaw-639967.html Mon, 22 Sep 2025 18:18:00 +0530 https://dailyworld.in/business/air-india-express-passenger-tries-to-open-cockpit-door-looking-for-lavatory-639974.html New Delhi Sep 22 An Air India Express passenger on a flight from Bengaluru to Varanasi tried to open the cockpit door allegedly searching for the lavatory the airline said Monday The man one among nine on board was detained by crew members and handed over to the Central Industrial Security Force upon landingAn Air India Express spokesperson said We are aware of media reports regarding an incident on one of our flights to Varanasi where a passenger approached the cockpit entry area while looking for the lavatoryThe airline company said that robust safety and security protocols are in place and were not compromised and that the incident has been reported to the relevant authoritiesThe matter is currently under investigation the spokesperson saidIn a separate announcement Monday Air India Express said it has started new daily direct flights between Bengaluru and Bangkok effective from Thursday From Bengaluru the flight will take off every day at 11 am IST which will reach its destination at 445 pm ISTThe new service aims to provide travellers with convenient nonstop connectivity to Thailand especially during the upcoming festive and holiday seasonsEarlier this month an Indorebound Air India Express flight from Delhi suffered a midair engine fault prompting the pilots to make a PANPAN call to Air Traffic Control before landing safely with all passengers unharmedThe internationally recognised PANPAN signal is used in aviation to indicate an urgent but nonlifethreatening situation requiring immediate support from air traffic control or ground servicesOfficials on September 5 said the flight IX 1028 was carrying 161 passengers when the crew noticed a suspected oil filter issue during descent into IndoreAir India and its lowcost arm Air India Express reported a combined pretax loss of Rs 95684 crore during FY 25 Of this Air India Express which had remained profitable for years slipped into a loss of Rs 56782 crore IANS https://dailyworld.in/business/air-india-express-passenger-tries-to-open-cockpit-door-looking-for-lavatory-639974.html Mon, 22 Sep 2025 18:25:00 +0530 https://dailyworld.in/business/adani-group-shares-extend-rally-add-rs-17-lakh-crore-in-market-value-in-two-sessions-639999.html New Delhi Sep 22 Shares of Adani Group companies continued their upward momentum on Monday rising sharply for the second straight session after the Securities and Exchange Board of India SEBI gave the conglomerate a clean chit in the Hindenburg shortselling case The Adani Groups total market capitalisation has increased by Rs 17 lakh crore in just two days after the prolonged rally surpassing the Rs 15 lakh crore markAfter hitting the 20 per cent upper circuit during the session Adani Power led the rally and closed at Rs 170 In just two trading days the stock has gained almost 35 per cent after undergoing a 15 splitAdani Total Gas saw a nearly 20 per cent increase to close at Rs 781 bringing its twoday gain to roughly 27 per cent Additionally Adani Green Energy saw a nearly 12 per cent increase on Monday giving investors a 17 per cent return over two sessionsAdani Enterprises gained 398 per cent to close at Rs 2624 marking a nearly 10 per cent increase over the same period while Adani Energy Solutions rose 652 per cent to Rs 934 up more than 11 per cent in two daysAdani Ports increased 120 per cent to Rs 1445 bringing its twoday gain to about 3 per cent A significant cement subsidiary of the group Ambuja Cement also increased by 130 per cent to Rs 590 or roughly 25 per cent in two sessionsMeanwhile the Indian benchmark indices ended in negative territory after a volatile sessionThe IT stocks dragged the market in the early trade after the US administration announced 100000 fee for new H1B visas However the market rebounded quickly buoyed by GST reforms that came into effect from MondayThe Sensex ended the session at 8215997 down 46626 points or 056 per cent while Nifty closed at 2520235 down 12470 points or 049 per cent IANS https://dailyworld.in/business/adani-group-shares-extend-rally-add-rs-17-lakh-crore-in-market-value-in-two-sessions-639999.html Mon, 22 Sep 2025 20:15:00 +0530 https://dailyworld.in/business/fii-selling-moderates-amid-indias-market-rally-sentiments-to-improve-639747.html New Delhi Sep 21 Foreign institutional investors slowed their selling amid Indian markets strong rally but remained net sellers in September offloading Rs 9503 crore this month The Nifty index displayed strong bullish momentum over the past week advancing 213 points closing at 25327 and forming a bullish candle marking the third consecutive week of gainsIt is important to note that FIIs have been consistently buying through the primary market even while selling through the exchanges and they have bought Rs 1559 worth of equities in September said Dr VK Vijayakumar Chief Investment Strategist at Geojit InvestmentsSo far in 2025 FIIs have sold Rs 180443 crore worth of equities a massive surge compared to the Rs 121210 crore offloading of Indian equities in 2024 the analyst saidThe huge surge in selling has not significantly impacted the market since DIIs have eclipsed the FII selling through sustained buyingPrimary market buying by FIIs totalled Rs 41865 crore in 2025 Vijayakumar attributed this peculiar behaviour of selling secondary market shares while buying primary ones to overvaluation in Indias stock marketThe selloff driven by lacklustre earnings stretched valuations and uncertainty over US tariffs has resulted in rangebound indicesFII selling in India and buying in other markets like Hong Kong Taiwan South Korea etc has been profitable for FIIs so far this year he said adding that this scenario may change going forwardMeanwhile on the weekly chart the index has formed a cup and handle pattern and a decisive breakout of this formation supported by increasing volumes would signal the potential for further sustained upside analysts saidFurther the index continues to trade above its key moving averages the 20day 50day and 200day EMAs further confirming the broader bullish undertoneAnalysts feel that there is a high likelihood of above 15 per cent growth in corporate earnings in FY27 leading to a turnaround in FPI sentiments IANS https://dailyworld.in/business/fii-selling-moderates-amid-indias-market-rally-sentiments-to-improve-639747.html Sun, 21 Sep 2025 13:30:00 +0530 https://dailyworld.in/business/pli-scheme-attracts-rs-176-lakh-crore-investments-creates-over-12-lakh-jobs-report-639754.html New Delhi Sep 21 Indias Production Linked Incentive PLI scheme has attracted Rs 176 lakh crore in committed investments since 2020 and created over 12 lakh jobs a report said The scheme has approved 806 applications across 14 strategic sectors primarily with the goal of boosting manufacturing in line with the Atmanirbhar Bharat initiative a report from India Narrative saidThe scheme offers rewards to companies for increased sales beyond a set baseline Initially sectors such as mobile electronics active pharmaceutical ingredients and medical devices were included and later automobiles textiles food processing solar modules semiconductors and others were addedUnder the PLI scheme electronics and mobile manufacturing rose 146 per cent from Rs 213 lakh crore in FY 202021 to Rs 525 lakh crore in FY 202425The auto and autocomponent PLI has drawn over Rs 67000 crore in investmentsBy March 2025 PLI participants in all sectors reported combined sales surpassing Rs 165 lakh crore the report saidAlthough MSMEs benefit indirectly their direct inclusion in PLI schemes remains limited it said adding that addressing these gaps will be critical for the scheme to reach its full transformative potentialSeveral projects have lagged in terms of execution amidst the competition from countries like Vietnam or China which requires constant innovation in policy design and logistics infrastructure it notedWhile electronics and pharma are surging due to a boost from the PLI scheme some sectors such as textiles and white goods need more time to scaleThe report said that enhanced monitoring complementary reforms in logistics and infrastructure and increased budget allocations for FY 202526 will strengthen PLIs reach and elevate manufacturings share of GDP to 25 per centFurther the scheme is expected to anchor India in global supply chains for electronics EVs and pharmaceuticals IANS https://dailyworld.in/business/pli-scheme-attracts-rs-176-lakh-crore-investments-creates-over-12-lakh-jobs-report-639754.html Sun, 21 Sep 2025 14:09:00 +0530 https://dailyworld.in/business/gst-rate-cuts-375-items-to-get-cheaper-from-tomorrow-639755.html New Delhi Sep 21 From automobiles and electronics to food items and medicines as many as 375 goods and services will become cheaper from Monday September 22 as the new GST framework comes into effect The major rate rationalisation approved by the GST Council earlier this year reduces the tax structure from four slabs to just two 5 per cent and 18 per centA special 40 per cent rate will apply on a select list of luxury and sin goodsFinance Minister Nirmala Sitharaman had described the reform as a Diwali gift for consumers saying the move will not only lower costs for the middle class but also make business operations smoother under GSTThis reform is not just about rationalising rates It is also about ease of living and structural reforms We have reduced slabs to just two and addressed issues related to compensation cess FM Sitharaman had saidEveryday food items such as milkbased beverages biscuits butter cereals dry fruits fruit juices ghee ice cream jam ketchup namkeen paneer pastry sausages and tender coconut water will now attract lower GSTDailyuse goods like shampoos soaps hair oil shaving cream talcum powder and face creams will also see price reductionsElectronics such as ACs washing machines TVs and dishwashers will become cheaper while GST on several medicines and medical devices has been cut to 5 per centThe government has directed pharma companies to revise their MRPs and pass on the benefits to consumersIn the services sector GST has been reduced for salons barbers gyms fitness centres and yoga servicesFor homebuyers the tax on cement has been slashed from 28 per cent to 18 per cent which is expected to make housing more affordableBig brands have already started passing on the benefits Hindustan Unilever has announced cuts across products such as Dove shampoo Lifebuoy soaps Horlicks and Kissan JamDairy giant Amul has reduced prices on over 700 products including butter ghee paneer cheese ice creams and bakery itemsThe Indian Railways has also cut prices of Rail Neer bottled water with a 1litre bottle now priced at Rs 14 instead of Rs 15The automobile sector will be one of the biggest beneficiaries with small hatchbacks now taxed at 18 per cent instead of 28 per cent and without any compensation cessCompanies like Maruti Suzuki India Tata Motors and Hyundai India have announced major price cuts on popular hatchbacks ranging from Rs 70000 to over Rs 13 lakh effective from September 22 IANS https://dailyworld.in/business/gst-rate-cuts-375-items-to-get-cheaper-from-tomorrow-639755.html Sun, 21 Sep 2025 14:09:00 +0530 https://dailyworld.in/business/ciis-model-state-gcc-policy-aims-to-create-millions-of-high-quality-jobs-across-india-director-general-639768.html New Delhi Sep 21 The Confederation of Indian Industry CII on Sunday released its Model State Policy on Global Capability Centres GCCs offering a comprehensive roadmap for states to attract support and scale the next generation of global enterprise hubs The policy aims to create millions of highquality jobs expand innovation ecosystems beyond metropolitan areas and strengthen Indias position as a global destination for knowledge and digital servicesCII Director General Chandrajit Banerjee said the rapid growth of GCCs over the past two decades has been a key driver of Indias economic journeyTo sustain leadership and deepen our integration into global value chains states must adopt clear competitive and innovationoriented policies This model policy provides a ready framework to guide states accelerate GCC growth beyond the metros and generate highquality employment he saidCurrently nearly 95 per cent of Indias 1800plus GCCs are concentrated in six Tier1 citiesThe CII policy seeks to change this by enabling Tier2 and Tier3 cities to become attractive destinations for global enterprisesIt provides actionable measures across infrastructure development fiscal incentives regulatory frameworks digital infrastructure talent development and sustainability allowing states to create seamless resilient and globally competitive GCC ecosystemsThe policy proposes the establishment of statelevel Facilitation Cells as single points of contact for investors along with targeted fiscal and regulatory incentives such as tax holidays customs duty exemptions for imported RampD equipment and viability gap funding for integrated infrastructure projectsIt also encourages investment in digital infrastructure including AIML computing support and edge data centres to ensure emerging hubs operate at global standardsIn addition the policy recommends collaboration between GCCs startups and research institutions to drive innovation in technologies like quantum computing ESGaligned solutions and enterprise softwareGreen infrastructure smart mobility affordable housing and civic amenities are highlighted as key factors to make statelevel hubs attractive for professionals and their familiesData security and IP facilitation frameworks tailored to local conditions are also emphasised to support dataintensive GCCsBanerjee said the model policy is designed to make GCC growth geographically inclusiveStates that act early and decisively will benefit from highquality employment stronger innovation ecosystems and deeper integration into global value chains Banerjee statedCII is ready to partner with states to operationalise these recommendations through task forces investment promotion campaigns and skill development initiatives he addedThe CII estimates that a wellexecuted GCC strategy across India could contribute nearly 200 billion in direct economic value by 2030 IANS https://dailyworld.in/business/ciis-model-state-gcc-policy-aims-to-create-millions-of-high-quality-jobs-across-india-director-general-639768.html Sun, 21 Sep 2025 16:22:00 +0530 https://dailyworld.in/business/pm-modis-gst-reform-historic-diwali-gift-to-nation-cm-yogi--639772.html Lucknow Sep 21 IANS Uttar Pradesh Chief Minister Yogi Adityanath on Sunday hailed the nextgeneration reforms in the Goods and Services GST Tax and thanked Prime Minister Narendra Modi for giving a historic Diwali gift to the nation including UP He lauded the move to forgo tax bracket on basic essentials like educational materials milk curd ghee cheese and other food products while imposing higher taxes on drugs and wasteful spendingnbspnbspSpeaking at the launch of the NaMo Yuva Run for drugfree India from his residence CM Yogi said the GST reforms will ease inflation for the poor make education more affordable and strengthen citizens purchasing power thereby boosting markets creating jobs and opening new avenues of progressHe stressed that the reform ensures welfare for traders relief for the poor and benefits for all consumers and urged that every resident of Uttar Pradesh be made aware of its significancenbspNoting that the BJP was observing Seva Pakhwada nationwide from September 17 to October 2 he said that the Bharatiya Janata Yuva Morcha workers are adding a transformative dimension to Seva Pakhwada through blood donation drives cleanliness campaigns and health camps linking the initiative with the vision of Viksit IndianbspSpeaking about the Azadi Ka Amrit Mahotsav CM Yogi recalled the Prime Ministers call to pledge towards building a Developed India by adopting five vows removing the vestiges of slavery respecting heritage honouring soldiers and uniformed forces promoting social equality and fulfilling civic duties with honestyThese vows will guide the nation towards development Inspired by this vision Uttar Pradesh has launched the Viksit India Viksit Uttar Pradesh campaign receiving overwhelming support from youth farmers workers entrepreneurs and intellectuals he remarkednbspHighlighting selfreliance as the foundation of progress the Chief Minister said that a selfreliant society emerges from a healthy society and events like the NaMo Marathon provide new direction and energy to youth Since 2014 Prime Minister Modi has accelerated several initiatives for health and youth empowermentnbspFurther addressing the youth he said that the youth power represents boundless energy when directed positively it can transform the nation When diverted towards drugs it leads only to ruinnbspHe noted that the NaMo Marathon serves as a strong call for the youth to stay away from addiction https://dailyworld.in/business/pm-modis-gst-reform-historic-diwali-gift-to-nation-cm-yogi--639772.html Sun, 21 Sep 2025 16:49:00 +0530 https://dailyworld.in/business/clarity-on-h-1b-visa-rules-to-ease-pressure-on-it-stocks-analysts-639774.html New Delhi Sep 21 US government clarification that visa holders returning to the country are exempt from the new 100000 fee will act as relief to Indian IT companies as markets open tomorrow analysts said on Sunday The government clarification also said that H1B petitions filed before the September 21 fee deadline will not incur the new 100000 feeAnalysts forecasted that IT stocks will see a decline of 3 to 5 per cent but the slip will not be significant as companies now can explore alternatives such as relocating employees to Canada or MexicoThey said that stocks that drop 15 to 25 per cent in the coming weeks present a longterm buying opportunity adding that a 35 per cent decline should be overlooked IT stocks may see some underperformance until trade negotiations produce a viable solutionFurther data from industry associations showed Indian IT firms are consistently decreasing their dependence on H1B visas Around 20 per cent of their staff work onsite in the US with a large portion of them hired locally and only 2030 per cent of those on H1B visas according to multiple reportsAdditionally H1B visa applications fell from 42671 in 2017 to 20870 in 2024The Nifty IT index has slipped around 16 per cent yeartodate whereas the Nifty 50 has increased by around 71 per cent HCL Technologies TCS and Infosys were major losers with declines over 28 per centUS Commerce Secretary Howard Lutnick defended the new visa rules as a corrective measure claiming that previous employmentbased visa policies allowed workers earning belowaverage salaries many of whom relied on government assistance to take jobs from American graduatesPresident Trump expects the revised feebased visa program to generate over 100 billion for the US Treasury designated for national debt reduction and tax cuts Critics however argued that the new fee hinders talent mobility and stifles innovationApproximately 71 per cent of H1B visa holders are from India primarily working for technology companies including Infosys Wipro Cognisant and Tata Consultancy Services IANS https://dailyworld.in/business/clarity-on-h-1b-visa-rules-to-ease-pressure-on-it-stocks-analysts-639774.html Sun, 21 Sep 2025 16:50:00 +0530 https://dailyworld.in/business/clean-plant-programme-to-strengthen-indias-horticulture-empower-farmers-639791.html New Delhi Sep 21 Nine Clean Plant Centres will be established across the country as part of the recently approved Rs 176567 crore Clean Plant Programme CPP the government said on Sunday The programme aims to boost Indias horticulture sector by providing virusfree planting material an official statement said A 98 million loan from the Asian Development Bank supports the initiative focused on key fruit crops including grapes oranges and pomegranatesOf the nine clean plant centres three will be set up in Maharashtra at a cost of Rs 300 crore Pune for grapes Nagpur for oranges and Solapur for pomegranates Large nurseries will receive up to Rs 3 crore each while medium units will get Rs 15 crore worth of assistance under the scheme collectively producing 8 crore diseasefree seedlings annuallyThe government said that the programme will increase yields enhance fruit quality and protect smallscale farmers from biotic and abiotic threatsThe Indian Council of Agricultural Research oversees technical progress and facilitates capacity building the statement said As of now 578 grapevine samples from seven states have been tested while 535 apple samples from Jammu and Kashmir Himachal Pradesh Uttarakhand and Punjab are under testing with hazard analysis in progressThe official CPP website has been launched as a central hub for resources updates and insights to revolutionise horticulture in India the statement saidFurther a nationallevel laboratory is to be set up in Pune for research on original plant species under CPP From January to March teams from ICAR NHB and ADB studied nursery ecosystems design operations and cost structures Then the team conducted lab assessments strengthened diagnostic and computational capabilitiesFurther they visited public and private labs for developing a bioinformatics pipeline for HTS data analysis under CPP This will help scientists more quickly and efficiently check for viruses in many types of crops and better test nursery plants to keep them safe and healthyIf acquired plant material tests negative it undergoes retesting before being used to propagate mother plants the release noted IANS https://dailyworld.in/business/clean-plant-programme-to-strengthen-indias-horticulture-empower-farmers-639791.html Sun, 21 Sep 2025 17:48:00 +0530 https://dailyworld.in/business/what-you-need-to-know-about-gst-20-as-tax-cuts-kick-in-on-monday-639799.html New Delhi Sept 21 Ahead of the beginning of GST rejig from Monday the Finance Ministry issued another detailed explanation of the cut in tax rates on goods and services announced as part of the reforms which aim to simplify rates remove anomalies and make the system easier for both businesses and consumers 1 Which life insurance policies are covered under the GST exemptionThe exemption applies to all individual life insurance policies including term plans endowment policies and ULIPs Reinsurance of these individual policies is also exempt2 Which health insurance policies are covered under the GST exemptionIndividual health insurance policies including family floater and senior citizen plans are exempt from GST Reinsurance of such individual policies is also exempt under this decision3 Will passenger transportation services be taxed at 18 per centNo Passenger transport by road will continue at 5 without ITC though operators may opt for 18 per cent with ITC In the case of air travel economy class is taxed at 5 per cent while other classes remain at 18 per cent4 What is the applicable GST rate on multimodal transport of goodsIf the multimodal transport does not include any air leg it is taxed at 5 per cent with limited ITC restricted to 5 per cent of the value If any portion involves air transport the applicable rate is 18 per cent with full ITC5 Who is liable to pay GST on local delivery services provided through an ECOIf local delivery services are provided through an ecommerce operator ECO by an unregistered person the ecommerce operator is responsible for paying GST If the service provider is registered then that provider is liable to pay the tax6 What is the GST rate applicable on local delivery servicesLocal delivery services are taxed at 18 per cent7 Is it necessary to recall and relabel the MRP on medicines already in the supply chain before September 22 2025 How will the relabelling be carried outNo recall of stock is required Manufacturers only need to issue revised price lists and share them with dealers retailers and regulators Stock already in the market can continue to be sold provided billing reflects the new prices8 Why havent all medicines been fully exempted from GSTExempting medicines would prevent manufacturers from claiming ITC on raw materials and inputs raising their production costs These costs would eventually be passed on to consumers Keeping medicines at a concessional 5 per cent rate except those specified at nil rate ensures affordability while allowing ITC to flow through the supply chain9 Why hasnt GST been removed on raw cottonCotton is taxed under reverse charge so farmers do not pay GST directly This system keeps the input tax credit chain intact for the textile industry which helps keep costs stable and benefits consumers10 What is the tax treatment for leasing or renting services without an operatorMajority of leasing or renting without operator is taxed at the same rate as the goods themselves For example if a car is taxed at 18 per cent then renting or leasing that car without a driver is also taxed at 18 per cent The same rule applies to other goods the tax on renting matches the tax on buying11 Will the revised GST rates also apply to imported goodsYes IGST on imports will be levied at the revised GST rates from 22nd September except where a specific exemption has been provided12 UHT Ultra High Temperature milk has been exempted Does this exemption also apply to plantbased milkNo The exemption is only for dairy UHT milk Plantbased milk drinks like almond milk earlier attracted 18 per cent GST and soya milk drinks 12 per cent Now all plantbased milk drinks including soya milk will be taxed at 513 Why has GST on face powders and shampoos been reduced and will this not also benefit MNCs and luxury brandsFace powders and shampoos are common household items used across all sections of society While premium or luxury brands will also see the benefit the main purpose of the rate cut is to simplify the GST system Having separate rates based on brand or price would make the tax structure complicated and difficult to administer IANS https://dailyworld.in/business/what-you-need-to-know-about-gst-20-as-tax-cuts-kick-in-on-monday-639799.html Sun, 21 Sep 2025 18:53:00 +0530 https://dailyworld.in/business/hm-amit-shah-to-inaugurate-startup-conclave-2025-in-gandhinagar-on-sep-23-639830.html Gandhinagar Sep 21 Union Home Minister Amit Shah will inaugurate the Startup Conclave 2025 at Mahatma Mandir in Gandhinagar on Tuesday The twoday event organised by the Gujarat governments Education department will see the participation of Chief Minister Bhupendra Patel and the State Higher and Technical Education Minister Rushikesh Patel at the opening ceremonyBringing together the countrys most dynamic voices in innovation entrepreneurship and investment the conclave will feature more than 1000 startups 5000 innovators 100 industry mentors 50 plus venture funds and leading policymakers on a single platformSpread across September 23 to 24 the event aims to set a new benchmark for Indias startup ecosystem by bridging the gap between earlystage ventures and top investorsA highlight of the conclave will be investor pitching sessions where more than 50 shortlisted startups will present their ideas across multiple parallel tracks before Indias leading venture capitalistsThese sessions are expected to unlock funding opportunities worth Rs 250 crore building on the success of the Startup Conclave 2023Ahead of the event investors interest has already resulted in letters of intent and financial commitments of Rs 150 crore for promising startupsThe conclave will also showcase 170 startups from 20 states including those selected by Startup India Ministry of Electronics and Information Technology MeitY and innovations for defence excellence iDEXExhibitions will span critical sectors such as defence aerospace healthcare clean energy agritech deep tech and social impact innovations underlining Indias entrepreneurial drive towards Atmanirbhar BharatThe thematic pavilions will highlight Gujarats strengths in electric vehicles semiconductors augmented realityvirtual reality fintech green hydrogen drones and space technologiesThe opening session will feature the release of a Startup Conclave Coffee Table Book NEP2020 Dashboard and Indian Knowledge System CompendiumThe state government will also facilitate the signing of 50 MoUs between startups investors and financial institutions alongside the distribution of funding cheques and Letters of Intent to selected venturesIn addition to exhibitions and B2B networking opportunities the conclave will host plenary sessions and roundtable conferences on key themes such as emerging opportunities in sunrise sectors the journey of Indias unicorns the role of womenled startups and the impact of digital transformationA special Unicorn Roundtable chaired by Minister Rushikesh Patel will bring together unicorn founders policymakers and investors to shape the future of Indias innovation economyThe Startup exhibition a central attraction of the conclave will offer startups direct access to policymakers industry leaders investors and mentorsExperts from platforms such as iDEX Startup India MeitY Startup Hub Indian National Space Promotion and Authorisation Centre INSPACe Gujarat Venture Finance Limited and Gujarat International Finance TecCity GIFT City will participate offering B2B mentorship gotomarket strategies and investor linkages IANS https://dailyworld.in/business/hm-amit-shah-to-inaugurate-startup-conclave-2025-in-gandhinagar-on-sep-23-639830.html Sun, 21 Sep 2025 22:22:00 +0530 https://dailyworld.in/business/india-inc-hails-pm-modis-clarion-call-to-boost-swadeshi-drive-powered-by-gst-20-639831.html New Delhi Sep 21 Apex business chamber CII hailed Prime Minister Narendra Modis clarion call on Sunday to boost domestic manufacturing and demand for Indianmade products giving a fresh momentum to the Swadeshi campaign powered by the cut in taxes under GST 20 The Prime Ministers address marks a landmark for Indias growth path with the reduction of taxes on essential and dailyuse products under GST 20 reforms poised to enhance disposable incomes for households and stimulate domestic demand the Confederation of Indian Industry CII said in a statementThese reforms which will kick in from Monday will significantly boost domestic manufacturing and demand for Indianmade products giving fresh momentum to the Swadeshi movement it saidBy focusing on manufacturing and supporting Swadeshi Indian industry is poised to become more selfreliant and globally competitive accelerating Indias journey towards Aatmanirbhar and Viksit Bharat the statement addedOn behalf of CII I congratulate the Prime Minister and the government for unveiling the GST 20reforms under the GST Bachat Utsav CII President Rajiv Memani saidPM Modi in his address to the nation on Sunday gave a clarion call for industry and consumers to push for creating a Swadeshi economy He remarked that just as the mantra of Swadeshi empowered Indias freedom struggle it will similarly energise the nations journey toward prosperity He highlighted that many foreign items have unknowingly become part of daily life and citizens often do not even realise whether the comb in their pocket is foreign or indigenousThe PM emphasised the need to liberate ourselves from such dependence and urged people to buy products that are Made in India infused with the hard work and sweat of the countrys youthHe called for every household to become a symbol of Swadeshi and every shop to be adorned with indigenous goods The PM encouraged citizens to proudly declare their commitment to SwadeshiI buy Swadeshi I sell Swadeshi and stated that this mindset must become intrinsic to every IndianHe asserted that such a transformation will accelerate Indias development He appealed to all state governments to actively support the Aatmanirbhar Bharat and Swadeshi campaigns by boosting manufacturing in their regions with full energy and enthusiasm and by creating a conducive environment for investment The Prime Minister affirmed that when the Centre and states move forward together the dream of a selfreliant India will be fulfilled every state will develop and India will become a developed nation IANS https://dailyworld.in/business/india-inc-hails-pm-modis-clarion-call-to-boost-swadeshi-drive-powered-by-gst-20-639831.html Sun, 21 Sep 2025 22:22:00 +0530 https://dailyworld.in/business/jampk-l-g-joins-cleanliness-drive-in-srinagars-dal-lake-as-part-of-sewa-parv-639736.html Srinagar Sept 21 More than onethird of the famous Dal Lake in Jammu and Kashmirs Srinagar city has been rejuvenated and the area of the Lake has grown to 203 sq km during the last five years LG Manoj Sinha said on Sunday The LG on Sunday joined the cleanliness campaign in the Dal Lake during which weeds and unwanted aquatic grasses were removedThe LG posted on X As part of Sewa Parv joined Dal Lake Cleanliness Drive During the last five years work for the preservation of DalNigeen Lake and in the catchment area has been undertaken in a mission mode Dal Lake is cleaner and attracting large numbers of domestic and international visitorsMore than onethird of Lake has been rejuvenated and vast areas were cleared of Lilies and an open expanse of Dal Lake has been increased for the first time to more than 203 sq km I called upon citizens to preserve lakes rivers and other water bodies through community involvement his post readKnown as the natural lungs of Srinagar city which is home to over 126 million people the Dal Lake is its main tourist attraction and a water body that sustains aquatic life and the livelihood of thousands of peopleIt is an urban lake the second largest lake in Jammu and Kashmir and the most visited place in Srinagar by tourists and locals It is integral to tourism and recreation in the Kashmir Valley and is variously known as the Lake of Flowers Jewel in the crown of Kashmir or Srinagars JewelThe lake is also an important source for commercial operations in fishing and water plant harvesting The shoreline of the lake about 155 kms long is encompassed by a boulevard lined with Mughal gardens parks houseboats and hotelsScenic views of the lake can be witnessed from the shoreline Mughal gardens such as Shalimar Bagh and Nishat Bagh built during the reign of Mughal Emperor Jahangir and from houseboats cruising along the lake in the colourful ShikarasDuring the winter season the temperature can sometimes reach as low as minus 11 degrees Celsius freezing the lake The lake covers an area of 18 square kilometres and is part of a natural wetland which covers 211 square kilometres including its floating gardensThe floating gardens known as Raad in Kashmiri blossom with lotus flowers during July and August The wetland is divided by causeways into four basins Gagribal Lokut Dal Bod Dal and Nigeen although Nigeen is also considered as an independent lakeLokut Dal and Bod Dal each have an island in the centre known as Rupa Lank or Char Chinari and Sona Lank respectivelyAt present the Dal and the Mughal gardens on its periphery are undergoing intensive restoration measures to fully address the serious eutrophication problems experienced by the lakeThe union government is making massive investments of approximately Rs 11 billion to restore the lake to its original splendour IANS https://dailyworld.in/business/jampk-l-g-joins-cleanliness-drive-in-srinagars-dal-lake-as-part-of-sewa-parv-639736.html Sun, 21 Sep 2025 12:04:00 +0530 https://dailyworld.in/business/poco-festive-madness-battery-kings-under-rs-30-000-unleashed-this-big-billion-days-639737.html New Delhi Sep 21 This festive season power meets performance as POCO brings you a lineup of smartphones that redefine battery innovation and endurance Designed to keep up with your nonstop lifestyle these devices combine cuttingedge performance longlasting power and unbeatable festive discounts Whether its gaming marathons allday streaming or nonstop social scrolling these flagshipgrade smartphones ensure you never run out of charge or speed making them the ultimate picks under Rs 30000 this Flipkart Big Billion DaysPOCO M7 5GThe POCO M7 5G stands out with its massive 5160mAh battery supported by 33W inbox charging ensuring reliable power that easily lasts up to 15 days on moderate useAlongside its impressive endurance it packs up to 12GB RAM including 6GB Turbo RAM the powerful Snapdragon 4 Gen 2 chipset a 50MP Sony camera and a large 688 HD display making it the segments fastest 5G smartphone built for both performance and longevityThe POCO M7 5G originally launched at Rs 10499 will now be available at an exciting 17 per cent discount for just Rs 8499POCO M7 Plus 5GThe POCO M7 Plus 5G is a powerhouse packing the largestinsegment 7000mAh battery with 18W reverse charging that keeps you going for days without worry It features a massive 69 FHD display with up to 144Hz refresh rate for a smooth immersive experience and is now available in a new 4GB RAM variant due to strong consumer demandThe M7 Plus also delivers reliable performance and versatile cameras making it a wellrounded choice for power usersOriginally priced at Rs 12999 the smartphone will be up for grabs at an irresistible 15 per cent discount bringing the price down to just Rs 10999POCO X7 Pro 5GAt the heart of the POCO X7 Pro is its massive 6550mAh Silicon Carbon battery designed to deliver allday endurance while keeping the phone slim and lightweight In realworld usage it easily provides up to 9 hours of screen time and with 90W fast charging it powers back to 100 per cent in just 45 minutesComplementing this powerhouse battery is the MediaTek Dimensity 8400 Ultra chipset which helps the X7 Pro clock an impressive 17M Antutu score making it the segments most powerful smartphone for heavyduty usersOriginally priced at Rs 27999 the smartphone is now available at just Rs 19999 a massive 29 per cent discountPOCO F7 5GBuilt for performance seekers the POCO F7 5G combines flagshiplevel power with Indias largest 7550mAh siliconcarbon battery and the cuttingedge Snapdragon 8s Gen 4 processor Its massive cell is almost impossible to drain in a day even heavy testing barely dents the chargeAnd when its time to top up 90W fast charging takes it from 0 to 100 per cent in just about 85 minutes With an AnTuTu score crossing 21 million the F7 5G delivers unmatched endurance and seamless performance making it the ultimate choice for users who demand moreLaunched at Rs 31999 the POCO F7 5G is now available for just Rs 28999 a 9 per cent discountWith unmatched endurance performance cuttingedge innovation and festivefirst pricing POCO is ensuring Indias young techsavvy generation has more reasons to celebrate this Big Billion DaysPOCO is fueling excitement among Indias young techsavvy consumers and ensuring that the 2025 Big Billion Days Sale is one to rememberFlipKart Link httpswwwflipkartcompocobbdintrigue2025atstorePOCO C71 Airtel Edition Launched at Rs 6499 now available at Rs 5599 with a 14 per cent discountPOCO C71 Priced at Rs 6499 now at Rs 6299 after a 3 per cent discountPOCO C75 Originally Rs 8499 now available for Rs 7399 at a 13 per cent discountPOCO M7 5G Airtel Edition Launched at Rs 10499 now just Rs 7799 with a massive 26 per cent discountPOCO M7 5G Priced at Rs 10499 now at Rs 8499 with a 19 per cent discountPOCO M7 Plus 5G From Rs 12999 now available at Rs 10999 after a 15 per cent discountPOCO M7 Pro 5G Launched at Rs 14999 now priced at Rs 11499 with a 23 per cent discountPOCO X7 5G Originally Rs 21999 now down to Rs 14499 with a massive 34 per cent discountPOCO X7 Pro 5G From Rs 27999 now just Rs 19999 with a 29 per cent discountPOCO F7 5G Launched at Rs 31999 now available for Rs 28999 at a 9 per cent discount IANS https://dailyworld.in/business/poco-festive-madness-battery-kings-under-rs-30-000-unleashed-this-big-billion-days-639737.html Sun, 21 Sep 2025 12:19:00 +0530 https://dailyworld.in/business/us-tech-firms-urge-h-1b-visa-workers-to-return-before-sunday-deadline-639570.html New Delhi Sep 20 US tech films like Microsoft have advised employees with H1B and H4 visas who are currently outside the United States to return immediately ahead of the September 21 deadline set by President Donald Trump when the 100000 fee on H1B visa comes into effect The US administration has imposed a 100000 annual fee on each visa The new rule will take effect on September 21 and remain in force for 12 months the US President saidAccording to reports companies like Microsoft and JPMorgan have instructed H1B workers currently in the US to continue their employment in the country for the foreseeable future and avoid international travel until further guidanceMicrosoft has also reportedly recommended H4 visa holders to remain in the US We strongly recommend H1B and H4 visa holders return to the US tomorrow before the deadline according to the companyThere was no official statement yet from either Microsoft or JPMorganPresident Trump expects the revised feebased visa programme to generate over 100 billion for the US Treasury designated for national debt reduction and tax cuts Critics however argued that the new fee hinders talent mobility and stifles innovationApproximately 71 per cent of H1B visa holders are from India primarily working for technology companies including Infosys Wipro Cognisant and Tata Consultancy ServicesShares of major IT services firms including USlisted Indian companies dropped by 2 per cent to 5 per cent following the announcementWith visas typically valid for three years and renewable up to six the new 100000 annual fee could make it expensive for companies to retain Indian professionals especially given the decadeslong wait for Green CardsThe H1B programme allows US companies to hire skilled foreign workers in fields like technology and engineering IANS https://dailyworld.in/business/us-tech-firms-urge-h-1b-visa-workers-to-return-before-sunday-deadline-639570.html Sat, 20 Sep 2025 11:32:00 +0530 https://dailyworld.in/business/mauritius-it-minister-lauds-indias-c-dot-lab-urges-deeper-bilateral-collaboration-639577.html New Delhi Sep 20 Mauritiuss Minister for Information Technology Communication and Innovation Dr Avinash Ramtohul who visited the Centre for Development of Telematics CDOT here has urged the need for deeper collaboration between the two countries in emergency alerting and telecom innovation the Ministry of Communications said The minister commended the centres disastermanagement and cybersecurity initiatives Ramtohul assessed CDOTs Early Warning System and Cell Broadcast solution and commented on its implementation nationwide to notify citizens including fishing communities of impending natural hazardsCDOTs cybersecurity stack includes a realtime Security Operations Centre Quantum Key Distribution PostQuantum Cryptography and SAMVADa a secure chat and calling application the Ministry saidCDOT CEO Dr Rajkumar Upadhyay introduced the Mauritius delegation to diverse telecom product portfoliossolutions in the areas of key applications such as Disaster management solution using ITU CAP protocol and Cell Broadcast solutionThe CEO also demonstrated new telecom innovations including 4G and 5G core and RAN networks switching and routing platformsThe solution is highly beneficial and would help in saving the lives of citizens including the fishermen community This engagement has set the stage for deeper forwardlooking collaboration in emergency alerting and telecom innovation Ramtohul saidHe also appreciated the RampD efforts of CDOTs research community and stressed the need for a larger collaboration for the development of futuristic and cuttingedge telecom solutions for mutual benefitsCDOT the RampD arm of the Department of Telecommunications has led Indias rural connectivity efforts and is currently exploring 6G use cases the Ministry notedOver the past four decades CDoT has been at the forefront of Indias telecom revolution bringing connectivity to rural areas powering the ambitious BharatNet NOFN project and delivering cuttingedge solutions in cyber security disaster management 4G5G next generation networks AI Network Management Systems IoTM2M applications among others IANS https://dailyworld.in/business/mauritius-it-minister-lauds-indias-c-dot-lab-urges-deeper-bilateral-collaboration-639577.html Sat, 20 Sep 2025 12:00:00 +0530 https://dailyworld.in/business/india-aims-to-double-seafood-exports-to-15-billion-by-2030-639603.html New Delhi Sep 20 India has emerged as a global leader in seafood exports currently supplying to 132 countries and the nation has set an aim to double its exports to 15 billion by 2030 a report said on Saturday India has shipped 1698170 tonnes of seafood worth Rs 6240845 crore 745 billion during 202425 as against exports of 1781602 tonnes in 202324 worth Rs 6052389 crore 738 billion reflecting the sectors strong resilience despite global trade fluctuationsThe fisheries sector also supports the livelihood of more than 30 million fishers and fish farmers highlighting its crucial role in the nations economy Seafood Exporters Association of India SEAI said in a report ahead of SEAIs India International Seafood Show 2025The 24th edition of the India International Seafood Show Asias premier seafood trade fair will be held from September 25 to 28 at Bharat Mandapam hereThis years edition will be part of World Food India 2025 the Government of Indias flagship global food innovation event that celebrates Indias culinary heritage and fosters partnerships across the food value chainIISS showcases the tremendous growth of Indias seafood export sector As we mark our golden jubilee this event will help us strengthen our global position and expand into new markets said SEAI President Pawan KumarSEAI SecretaryGeneral KN Raghavan added Our motto Sustainably Harvested Humanely Sourced reflects our deep commitment to ethical sourcing and responsible aquaculture practicesIISS2025 will be a platform to address challenges such as skill development sustainability and innovation he said furtherIISS2025 will feature over 260 stalls technical sessions and roundtables bringing together participants from more than 15 countries Including major markets such as the United States the European Union Vietnam the UAE Germany Belgium Japan China and others SEAI stated in the report IANS https://dailyworld.in/business/india-aims-to-double-seafood-exports-to-15-billion-by-2030-639603.html Sat, 20 Sep 2025 13:50:00 +0530 https://dailyworld.in/business/centre-enables-gst-grievance-redressal-on-national-consumer-helpline-639604.html New Delhi Sep 20 The Department of Consumer Affairs on Saturday launched a dedicated GST grievance category on the National Consumer Helpline to address queries and complaints related to the GST 20 reforms The National Consumer Helpline can be accessed at the tollfree number 1915 or online in 16 Indian languages and in English functioning as a single prelitigation point of access for consumers across the country to register grievances at the prelitigation stageConsumers can also register GSTrelated complaints through the Integrated Grievance Redressal Mechanism INGRAM portal covering key sectors such as automobiles banking consumer durables ecommerce and fastmoving consumer goods The GST reforms will take effect from September 22To address the expected consumer queries and complaints on National Consumer Helpline following the implementation of revised GST charges rates and exemptions a dedicated category has been enabled on the INGRAM portal the Ministry of Consumer Affairs Food amp Public Distribution saidOn September 11 officials from the Central Board of Indirect Taxes and Customs conducted an inaugural training session to equip National Consumer Helpline counsellors to handle GSTrelated queries and grievances effectivelyConsumer complaint data and insights will be shared with affected companies the CBIC and other authorities to enable prompt action under relevant laws enhance GST compliance and support a participatory governance model the Ministry saidThe omnichannel platform supports multiple registrations via WhatsApp SMS email a dedicated app web portal and the Umang app the ministry saidThe technological transformation of the National Consumer Helpline has significantly boosted its callhandling capacity the government informed Call volumes grew from 12553 in December 2015 to 155138 in December 2024Similarly the average number of complaints registered per month has surged from 37062 in 2017 to 170585 in 2025Around 65 per cent of grievances are now filed digitally Each complaint is assigned a unique docket number for transparent tracking and resolution the ministry noted IANS https://dailyworld.in/business/centre-enables-gst-grievance-redressal-on-national-consumer-helpline-639604.html Sat, 20 Sep 2025 13:52:00 +0530 https://dailyworld.in/business/second-nuclear-plant-coming-up-in-banswara-to-boost-rajasthans-energy-capacity-639605.html Jaipur Sep 20 After a gap of nearly 52 years Rajasthan is gearing up for its second nuclear power plant in Banswara following the success of the Rawatbhata Nuclear Power Plant in Chittorgarh Once operational and with further capacity expansion at Rawatbhata the states total nuclear power generation is expected to reach 6680 MW marking a major milestone in Rajasthans journey towards becoming a nuclear energy hubRajasthans energy sector continues to chart an impressive growth trajectoryAlready holding the distinction of being ranked number one in the country for renewable energy the state is now poised to make significant strides in the nuclear energy sector as wellAfter a gap of nearly 52 years Rajasthan is set to establish its second nuclear power plant in Banswara following the successful operation of the Rawatbhata Nuclear Power Plant in ChittorgarhOnce the Banswara project is operational and planned expansions at Rawatbhata are complete the states total nuclear power generation capacity will rise to an estimated 6680 MW positioning Rajasthan as a major hub for nuclear energy in India This expansion aligns with the states longterm vision of enhancing its role in Indias clean energy mission said officialsTo support the growing nuclear sector uranium exploration activities have gained momentumUranium reserves have been discovered in Khandela Sikar district where the Atomic Minerals Directorate is actively workingFurther exploration is also underway in regions of Udaipur Dausa and other parts of Sikar which is expected to reduce the states future dependency on external sources of nuclear fuelIn terms of projectspecific developments the Rawatbhata Nuclear Power Plant established in 1963 in collaboration with Canada currently has seven operational units with a total capacity of 1780 MWThe eighth unit 700 MW is nearing commissioning while plans for the ninth and tenth units 700 MW each are in progress taking the total planned capacity to 3880 MWNationally India operates 24 nuclear reactors with a combined capacity of 8080 MW With the addition of Rajasthans new units this figure will rise to 10180 MW making Rawatbhata the largest nuclear facility in the country surpassing even Kudankulam in Tamil Nadu which currently has a capacity of 2000 MWThe upcoming Banswara Nuclear Power Project will add another 2800 MW with an estimated investment of Rs 50000 crore This project is a joint venture between NTPC and NPCIL and will significantly boost Rajasthans nuclear infrastructureExperts emphasise that the development of nuclear energy in Rajasthan particularly through the Rawatbhata and Banswara projects will play a crucial role in enhancing Indias energy security while contributing significantly to the nations green energy goals over the next decade IANS https://dailyworld.in/business/second-nuclear-plant-coming-up-in-banswara-to-boost-rajasthans-energy-capacity-639605.html Sat, 20 Sep 2025 13:53:00 +0530 https://dailyworld.in/business/h-1b-visa-fee-hike-govt-assessing-the-situation-with-nasscom-639611.html New Delhi Sep 20 The government and the IT industrys apex body Nasscom are assessing the fallout of the US administrations decision to impose a 100000 annual fee on H1B visas from September 21 According to government sources New Delhi is in touch with the Indian Embassy in Washington DC and is also holding consultations with the leading tech industry body Nasscom hereThe new H1B costs are expected to affect the US companies the most as these rely heavily on Indians for specialised and highskilled tech rolesAccording to experts this may also trigger a new wave of global capability centres GCCs in India to meet the shortage of talent in the US after the new visa fee ruleIndians hold the highest number of H1B visas followed by ChinaMeanwhile GCCs are preparing for a talent expansion in India with 48 per cent of GCCs planning to increase their workforce beyond 2024 levelsFinance Minister Nirmala Sitharaman said this week that India today hosts nearly half of the worlds Global Capability Centres GCC which are now at the forefront of innovation RampD and leadership creationGCCs will consolidate Indias leadership in innovation and job creation and with the right policies infrastructure and skilling this sector can define our journey to Viksit Bharat 2047 she said while addressing the Special Ministerial Plenary and Report Back at the CII GCC Business SummitThe USbased companies have traditionally accounted for nearly 70 per cent of total GCC absorption since 2021 In recent years GCCs from the UK EMEA and APAC regions have also expanded their footprint steadily strengthening their presence in IndiaIndia has approximately 1700 GCCs with a projection to reach over 2100 by 20292030According to CP Gurnani Cofounder and Chief Executive Officer AIonOS over the past several years the Indian IT firms have significantly reduced their reliance on the H1B visa with filings dropping by over 50 per centThis shift is a result of our ongoing strategy to hire more locally invest in automation and enhance our global delivery models While visa fees may change the impact on our business will be minimal as weve already adapted to this evolving landscape he mentioned IANS https://dailyworld.in/business/h-1b-visa-fee-hike-govt-assessing-the-situation-with-nasscom-639611.html Sat, 20 Sep 2025 14:13:00 +0530 https://dailyworld.in/business/apple-to-clock-record-sales-in-india-during-festive-season-with-28-pc-growth-analysts-639624.html New Delhi Sep 20 US tech giant Apple is set to achieve its highest festivesales count in India with analysts forecasting a 28 per cent yearonyear sales increase in 2025 owing to the early success of the iPhone 17 series Counterpoint research forecasted record growth in sales owing to an aggressive n1 strategy during the festive season and the 17 series performed better than the 16 seriesAnalysts said that the first week of sales for the iPhone 17 series is 19 per cent higher than the iPhone 16 seriesApple is effectively capitalising on the premiumisation trend in India said Research Director at Counterpoint Research Tarun PathakPro and Pro Max models are experiencing the highest demands with stockouts reported across various channels and the Cosmic Orange variant being particularly popular Pathak saidUpgrading the base variant to 256GB along with cashback offers and up to 24month EMIs enhances its value significantly he saidThe new iPhone 17 Air despite a higher price is gaining stronger traction than last years Plus model Pathak addedFurther the initial demand is outpacing supply and securing inventory especially for the 17 Pro models is a challenge for retailersPrabhu Ram VP Industry Research Group IRG CMR said that Apple is on track to cross 45 million shipments this festive quarter with the new iPhone Air poised to generate fresh tractionHe also said that prebookings for the iPhone 17 line are surpassing last years figures positioning Apple for continued momentum through DiwaliApple launched iPhone 17 on September 9 featuring the new Centre Stage front camera a 48MP Fusion Main camera with an optical quality 2x Telephoto and a new 48MP Fusion UltraWide camera that captures expansive scenes and macro photography in more detailThe 63inch Super Retina XDR display with ProMotion is bigger and brighter the company claimed With the new Ceramic Shield 2 the front cover is reported to be tougher with 3x better scratch resistance than the previous generation and reduced glare The phone is powered by the latestgeneration A19 chip for higher performance and longevity IANS https://dailyworld.in/business/apple-to-clock-record-sales-in-india-during-festive-season-with-28-pc-growth-analysts-639624.html Sat, 20 Sep 2025 15:47:00 +0530 https://dailyworld.in/business/epfo-makes-pf-transfer-easier-annexure-k-now-available-online-639634.html New Delhi Sep 20 The Employees Provident Fund Organisation EPFO has introduced a significant change that will make it easier for professionals to transfer their provident fund balance when switching jobs Members can now download Annexure K a crucial document needed for PF transfers straight from the EPFO Member Portal according to a circular released earlier this week by the Union Labour MinistryUntil now employees could only access Annexure K upon request and it was only shared between PF offices which frequently caused delays and inconvenience By giving members immediate online access to the document the reform seeks to improve convenience and transparencyBecause it includes detailed information about an employees provident fund account including member information the PF balance with interest full service history job details and joining and exit dates Annexure K is essential for the PF transfer processWhen an employee changes jobs this transfer certificate guarantees that their pension service and PF accumulations are correctly transferred to a new accountAccording to the Labour Ministry the new rule will guarantee a smoother transfer process enable employees to check the status of their transfer applications online and confirm the accuracy of their PF balance and service period in the new accountBy logging into the EPFO member portal going to the online services section selecting Track Claim Status and then selecting the option to download Annexure K in PDF format employees can obtain the documentSteps to download Annexure K Log in to the EPFO member portal using your details go to Online Services select Track Claim Status and click on Download Annexure KEarlier Union Minister for Labour and Employment Dr Mansukh Mandaviya also introduced a new facility called Passbook Lite which will enable members to easily check their passbook and related summarised view of their contributions withdrawals and balance in a simple and convenient format through the member portal itself without having to go to the passbook portalAs part of the changes made to guarantee that members receive effective transparent and userfriendly services the EPFO has added a new feature called Passbook Lite to its member portalBy offering all essential services including passbook access with a single login this initiative is anticipated to enhance the user experience However members can still use the current Passbook Portal to view all of the passbook details including a graphical display IANS https://dailyworld.in/business/epfo-makes-pf-transfer-easier-annexure-k-now-available-online-639634.html Sat, 20 Sep 2025 17:14:00 +0530 https://dailyworld.in/business/repression-in-china-both-a-political-imperative-and-a-profitable-business-report-639645.html New Delhi Sep 20 Leaked documents from two Chinese firms infrastructure builder Geedge Networks and AI company GoLaxy have revealed how repression in China is both a political imperative and a profitable business illustrating that the country is not only perfecting digital authoritarianism at home but also packaging it for export according to a report in The Diplomat The leaked internal files from Geedge Networks laid bare how Geedge sold itself as a cybersecurity company while actually building censorship and surveillance infrastructure the report mentionedGoLaxy was exposed when researchers at Vanderbilt University uncovered nearly 400 pages of internal planning documents It is a Beijingbased company that has emerged as a major player in deploying AI tools that monitor influence and manipulate narratives onlineTogether these leaks have provided an unprecedented window into the mechanics of Chinas censorship and propaganda apparatus the report addedIt further stated that the products they sell differ though they complement each other within the larger control systemGeedge is an infrastructure builder Its flagship product the Tiangou Secure Gateway is essentially a turnkey firewall in a box It performs deep packet inspection blocks VPNs and other circumvention tools fingerprints devices analyzes metadata and even offers prototype reputationbased access controls according to the reportGoLaxy systems ingest opensource social media data map relationships among political actors and influencers and use artificial intelligence to generate content for orchestrated campaignsDashboards allow operators to monitor discourse around sensitive topics Taiwan Hong Kong Xinjiang US politics and plan interventions by seeding narratives or amplifying favoured voices Where Geedge builds the pipes for information control GoLaxy provides the tools to flood those pipes with content aligned to government priorities the Diplomat report explainedGeedge has even reached abroad marketing its Great Firewall in a box to regimes that want Chinesestyle control Reports show deployments in Kazakhstan Pakistan Ethiopia and MyanmarUnlike Geedge GoLaxy does not yet appear to export its tools widely to foreign regimes instead it focuses on strengthening the CCPs domestic propaganda system and building the capacity for global influence campaigns said the reportThe report further stated that these client patterns reveal how both firms embody the partystates dual strategy to perfect control at home and to promote its model abroadBoth companies also maintain close ties to the Chinese Academy of Sciences CAS Chinas premier research institution This makes clear that China has turned repression into an export industry the report stressed IANS https://dailyworld.in/business/repression-in-china-both-a-political-imperative-and-a-profitable-business-report-639645.html Sat, 20 Sep 2025 17:50:00 +0530 https://dailyworld.in/business/all-efforts-to-promote-make-in-india-start-yielding-robust-results-piyush-goyal-639667.html New Delhi Sep 20 All the efforts that were taken to promote the Make In India programme have started yielding stronger results Commerce and Industry Minister Piyush Goyal said on Saturday The minister while addressing an event on Celebrating 10 Years of Make in India said that we are all in the mission mode to make it easier to do business in India to promote manufacturing in India and to support trade and industry business and commerce including international tradeGoyal stated that by doing so we can see faster growth in the country indicating the recent GDP growth rate in the first quarter of this fiscal yearAnybody in the room would imagine we would grow 78 per cent in this first quarter It beat all economists expectations and well continue to beat them right up to 2047 the minister highlightedThe commerce minister underlined that its a race to make India a 3032 trillion economy when we celebrate 100 years of independenceHitting out at previous governments Goyal said that in the past once the roads were clogged then the infrastructure was built once the ports were overburdened then new ports were built and once airports ran out of capacity then we started planning a new airportNow Jewar international airport in UP is coming up next month whereas we still have capacity in the New Delhi airport We are anticipating growth the minister told the gatheringBy the end of this month the new airport in Mumbai will start opening up a plethora of opportunities for the state of Maharashtra and for that whole region he addedThe minister highlighted the outcome of his recent twoday visit to the UAEWe just came back many of us in this room were in the UAE for the last two days 1819 September where more than 75 industry leaders across the sectors textiles marine fisheries pharmaceuticals leather goods all of them converged Goyal saidHe said it was a fruitful event and the excitement in the Gulf region for India particularly in the UAE was palpableI really can see a lot of potential in that initiative in that region We have crossed a 100 billion bilateral trade between the UAE and India after the FTA Goyal notedIn the HighLevel Task Force on Investments we have reset our target that in the next three to four years where we will do 100 billion of nonoil nonprecious metal trade with the UAE he informedThe minister said that the Bharat Mart is coming up by early 2027 which will give MSMEs an opportunity to showcase their products have a warehousing facility and have quick logistics from there to be able to supply across the globe IANS https://dailyworld.in/business/all-efforts-to-promote-make-in-india-start-yielding-robust-results-piyush-goyal-639667.html Sat, 20 Sep 2025 18:56:00 +0530 https://dailyworld.in/business/all-efforts-to-promote-make-in-india-started-yielding-results-piyush-goyal-639668.html New Delhi Sep 20 All the efforts that were taken to promote the Make In India programme have started yielding results Commerce and Industry Minister Piyush Goyal said on Saturday The minister while addressing an event on Celebrating 10 Years of Make in India said that we are all in mission mode to make it easier to do business in India to promote manufacturing in India to support trade and industry business and commerce including international tradeGoyal stated that by doing so we can see faster growth in the country indicating the recent GDP growth rate in the first quarter of this fiscal yearAnybody in the room would imagine we would grow 78 per cent in this first quarter It beat all economists expectations and well continue to beat them right up to 2047 the minister highlightedThe commerce minister underlined that its a race to make India a 3032 trillion economy when we celebrate 100 years of IndependenceHitting out at previous governments Goyal said in the past once the roads were clogged then the infrastructure was built once the ports were overburdened then new ports were built and once airports ran out of capacity then we started planning a new airportNow Jewar is coming up next month whereas we still have capacity in the New Delhi airport We are anticipating growth the minister statedBy the end of this month the new airport in Mumbai will start opening up a plethora of opportunities for the state of Maharashtra and for that whole region he addedThe minister highlighted the outcome of his recent twoday visit to the UAEWe just came back many of us in this room were in the UAE for the last two days September 1819 where more than 75 industry leaders across the sectors textiles marine fisheries pharmaceuticals leather goods all of them converged Goyal saidHe said that it was a fruitful event and the excitement in the Gulf region for India particularly in the UAE was palpableI really can see a lot of potential in that initiative in that region We have crossed a 100 billion bilateral trade between the UAE and India after the FTA Goyal notedAnd in this visit to the HighLevel Task Force on Investments we have reset our target that in the next three to four years we will do 100 billion of nonoil nonprecious metal trade with the UAE he saidThe minister informed that the Bharat Mart is coming up by early 2027 which will give MSMEs an opportunity to showcase their products have a warehousing facility and have quick logistics from there to be able to supply across the globe IANS https://dailyworld.in/business/all-efforts-to-promote-make-in-india-started-yielding-results-piyush-goyal-639668.html Sat, 20 Sep 2025 18:57:00 +0530 https://dailyworld.in/business/centre-unveils-comprehensive-logistics-cost-assessment-to-boost-global-competitiveness-639691.html New Delhi Sep 20 For the first time India will have a comprehensive and scientifically derived estimate of logistics costs using a hybrid methodology that combines secondary data with nationwide surveys the government said on Saturday The initiative follows the mandate of the National Logistics Policy 2022 to establish a uniform framework for measuring logistics costs and benchmarking them against global practicesOn the occasion of marking a decade of Make in India Commerce Minister Piyush Goyal launched a report on Assessment of Logistics Cost in India at an event hereHe highlighted that the government has undertaken multiple initiatives to make logistics more competitive and reduce the cost of doing business in IndiaThe minister noted that studies and reports prepared by the Industry and Commerce Departments are helping identify key issues in logistics costsEfforts such as mapping each Harmonised System of Nomenclature HSN code to the respective line ministry streamline coordination and strengthen Indias position in free trade agreement FTA negotiationsHe further emphasised that the creation of a logistics data bank the implementation of integrated state and city logistics plans under the SMILE programme in collaboration with the ADB and infrastructure projects spearheaded by NICDC and other agencies aim to assess available facilities improve transport and connectivity and reduce inefficienciesThese measures along with reforms such as GST implementation and rationalisation are central to ongoing efforts to reduce logistics costs enhance ease of doing business and boost competitivenessUntil now logistics costs in India were often misrepresented with commonly cited figures of 1314 per cent of GDP derived from external studies or partial datasetsThis led to inconsistent estimates causing confusion among policymakers and global stakeholders As per the current assessment prepared by NCAER for DPIIT logistics costs in India are estimated at about 797 per cent of total GDPThe report provides a comprehensive framework by capturing logistics costs across different transport modes product categories and firm sizesIt also presents estimates of freight cost per tonnekilometre and highlights the role of multimodality in enhancing efficiency By providing evidencebased guidance the study strengthens Indias efforts to improve competitiveness and supports the broader vision of positioning the country as a global logistics hub IANS https://dailyworld.in/business/centre-unveils-comprehensive-logistics-cost-assessment-to-boost-global-competitiveness-639691.html Sat, 20 Sep 2025 21:46:00 +0530 https://dailyworld.in/business/new-gst-will-simplify-business-and-boost-consumption-itcs-sanjiv-puri-639489.html Kolkata Sep 19 ITC Limited Chairman and Managing Director Sanjiv Puri on Friday welcomed the new Goods and Services Tax GST reform calling it a positive step that will simplify business processes and boost consumption Speaking to IANS on the sidelines of the 124th Annual General Meeting of the Merchants Chamber of Commerce and Industry MCCI here Puri said The new GST is a very good step It will simplify the entire business process make ease of doing business better and benefit small enterprises as wellWith lower rates consumption will go up and this will in turn create more employment opportunities he addedThe meeting was also attended by Bengal Chief Ministers Principal Chief Advisor Dr Amit Mitra along with other dignitariesAt the MCCI event Puri also spoke about the need for Indian businesses to reimagine their models with greater focus on innovation sustainability and resilienceEnterprises have a social role to play We need business models that put people and the planet at the centre he said highlighting trends such as digitisation circularity and supply chain resilienceThe latest GST reforms which will come into effect from September 22 have been designed to reduce rates on several items and make the overall structure simplerAccording to a Crisil report these reforms are unlikely to put major pressure on government financesWhile the government expects a shortterm revenue loss of about Rs 48000 crore annually analysts say the impact will not be significant given last years total GST collections of Rs 106 lakh croreExperts believe that the reduction in rates combined with steady growth in demand for services and new items brought under GST will help maintain revenue stabilityAt the same time lower tax rates on mass consumption items are expected to improve purchasing power giving a broader push to the economy IANS https://dailyworld.in/business/new-gst-will-simplify-business-and-boost-consumption-itcs-sanjiv-puri-639489.html Fri, 19 Sep 2025 20:11:00 +0530 https://dailyworld.in/business/odisha-govt-approves-25-industrial-projects-valued-at-rs-4-739-crore-in-13-sectors-639491.html Bhubaneswar Sep 19 The Odisha government on Friday approved 25 industrial projects worth Rs 4739 crore investment in 13 key sectors in different districts of the state As per an official statement released the approval was given during the 140th meeting of the State Level Single Window Clearance Authority SLSWCAThe SLSWCA meeting was chaired by Odisha Chief Secretary Manoj AhujaThese industrial projects are poised to create 25200 employment opportunities across several districts including Khordha Jajpur Cuttack Sambalpur Jharsuguda Ganjam Mayurbhanj Angul and GajapatiThe latest approvals cover a total of 13 key sectors including textiles steel chemicals IT infrastructure logistics renewable energy tourism metal downstream circular economy cold storage capital goods The projects embody the states commitment to fostering sustainable industrialisation and economic growth across diverse regions the official statement saidThe SLSWCA has cleared the greatest number of investment proposals in the textile apparel and technical textile sectors in the meetingA private company has proposed to invest Rs 70029 crore in Khordha to set up an integrated textile facility generating 1010 jobsMeanwhile another private firm will set up a knitted fabric and garment unit in Khordha with Rs 20936 crore investment generating 1080 jobsAmong the other major investment proposals cleared on Friday a private firm will expand its operations with a rolling mill pellet plant DRI billet plant and captive power plant in Jharsuguda with an investment of Rs 990 crore creating 2000 jobsAnother private company has proposed to invest Rs 32070 crore to establish a treatment storage and disposal facility in Ganjam district generating 145 jobsSimilarly a private company will invest Rs 20544 crore in Jajpur to establish a carbon electrode paste manufacturing plant generating 600 jobsDriven by dynamic governance strategic foresight and a robust policy framework that champions ease of doing business Odisha is fast emerging as the preferred investment destination in India the state government saidThe state government also claimed that Odisha is on a steady path toward building a prosperous futureready economy in line with the vision of Samrudha Odisha 2036 IANS https://dailyworld.in/business/odisha-govt-approves-25-industrial-projects-valued-at-rs-4-739-crore-in-13-sectors-639491.html Fri, 19 Sep 2025 20:12:00 +0530 https://dailyworld.in/business/india-eu-partnership-to-bolster-global-stability-639492.html New Delhi Sep 19 The new EUIndia Strategic Agenda unveiled in September aims to strengthen mutual prosperity security and global stability as the world navigates shifting geopolitical realities With the current realignment of global power a rising India is seen by Europe as a vital partner for diversifying supply chains mitigating security threats and fostering an open rulesbased international order In turn the EU as Indias largest trading partner provides access to advanced technologies investments and stable markets according to an article in India NarrativeExpansion of security ties is a top priority The agenda outlines cooperation in crisis management maritime security particularly in the Indian Ocean cyber defence intelligence sharing and counterterrorismThe new agenda was jointly announced by the European Commission President Ursula von der Leyen and EU High Representative Kaja Kallas following intensive dialogue between the Commission and the Indian government Ratification by all 27 EU member states is required with formal adoption scheduled at the EUIndia Summit in early 2026The FTA negotiations are targeted to conclude by the end of 2025 though complex issues remain Ongoing work includes setting up new dialogues on space cooperation mobility and cyber issuesThe agenda strengthens Indias global standing as a key interlocutor for Europe balancing Indias relations with Russia and China For the EU it signifies deeper Asian engagement beyond traditional partners the article statesThe launch of negotiations for a Security of Information Agreement will facilitate classified information exchange There will also be enhanced engagement in the IndoPacific with joint responses to hybrid threats and a focus on countering malign activitiesBesides India is invited to participate in EU defence initiatives including the Permanent Structured Cooperation PESCO mechanism and a new EUIndia Security and Defence Partnership modelled on those with Japan and South KoreaOn the economic front tariff removal regulatory harmonisation and investment facilitation are set to expand bilateral commerce innovation and industrial collaboration especially in hightech and green sectorsA centrepiece is finalising a comprehensive Free Trade Agreement FTAaiming to become the worlds largest such deal The FTA negotiations which have intensified in 2025 seek to lower tariffs improve market access for services and products harmonise standards and secure sustainable development commitmentsAddressing nontariff barriers and regulatory cooperation are core objectives while the EU also encourages investment in strategic sectors infrastructure and innovation with joint business forums and startup initiatives the article added IANS https://dailyworld.in/business/india-eu-partnership-to-bolster-global-stability-639492.html Fri, 19 Sep 2025 21:02:00 +0530 https://dailyworld.in/business/adani-groups-market-cap-soars-rs-69-000-crore-in-single-day-639493.html New Delhi Sep 19 Adani Group companies added more than Rs 69000 crore to their market capitalisation in a single trading session on Friday as investors rushed to buy shares following the SEBIs clean chit in the Hindenburg case The market regulators order which dismissed allegations of stock manipulation and relatedparty misuse boosted investor confidence and triggered a sharp rally across Adani stocksAdani Power led the surge with a jump of 1240 per cent on the Bombay Stock Exchange BSE hitting its 52week highAdani Total Gas rose 735 per cent while Adani Green Energy and Adani Enterprises climbed 533 per cent and 504 per cent respectivelyAdani Energy Solutions also advanced 470 per cent on the BSEThe rally came just a day after the SEBI wrapped up its probe concluding that there was no evidence to support the accusations made by US shortseller Hindenburg Research in January 2023The latest gains have brought huge relief to investors and are being seen as a turning point for the Adani GroupThe total market valuation of the conglomerates listed companies now stands at Rs 1396 lakh crore as per the exchange dataBrokerages also signalled fresh confidence in the group Global firm Morgan Stanley initiated coverage on Adani Power for the first time in over a decade a move that analysts say reflects renewed interest from institutional investors who had largely stayed away after the Hindenburg reportOther group companies also posted gains with Sanghi Industries rising 141 per cent ACC up 121 per cent Adani Ports adding 109 per cent and Ambuja Cements edging higher by 028 per centAdani group stocks surged after SEBI cleared the group in the Hindenburg probe triggering renewed investor confidence and strong buying interest across the conglomerate Bajaj Broking Research said in a noteThe surge was particularly strong in energyrelated stocks but spread across the groups portfolio underscoring the markets optimism after months of uncertainty IANS https://dailyworld.in/business/adani-groups-market-cap-soars-rs-69-000-crore-in-single-day-639493.html Fri, 19 Sep 2025 21:02:00 +0530 https://dailyworld.in/business/sebi-simplifies-process-of-transferring-securities-from-nominees-to-legal-heirs-639500.html New Delhi Sep 19 In a move aimed at reducing confusion and easing compliance capital markets regulator SEBI on Friday simplified the process of transferring securities from nominees to legal heirs In a circular issued the regulator said that from January 1 2026 all reporting entities including depositories listed companies RTAs and depository participants will be required to use a new code TLH Transmission to Legal Heirs while reporting such transfers to the Central Board of Direct Taxes CBDTCurrently when securities are passed on from a nominee to a legal heir the transaction is sometimes treated as a taxable transfer and assessed under capital gains provisionsAlthough Section 47iii of the Income Tax Act exempts such transmissions the error often forces investors to seek refunds later causing unnecessary inconvenienceTo address this issue SEBI had set up a working group that consulted with CBDT and recommended the adoption of a standard reporting codeIt has been decided that a standard reason code viz TLH shall be used by the reporting entities while reporting the transmission of securities from nominee to legal heir to the CBDT so as to enable proper application of the provisions of the Income Tax Act 1961 SEBI said in its circularThe regulator has in recent months taken several steps to streamline processes related to nomination and transmission of securitiesEarlier SEBI had simplified the appointment of nominees to ensure smooth transfer of securities after the death of an investorNominees act as trustees and are required to pass on the securities to the rightful legal heir as per the succession planThe new measure according to SEBI will help avoid unnecessary tax complications provide clarity to investors and bring uniformity in reporting by market participants IANS https://dailyworld.in/business/sebi-simplifies-process-of-transferring-securities-from-nominees-to-legal-heirs-639500.html Fri, 19 Sep 2025 22:00:00 +0530 https://dailyworld.in/business/customer-inquiries-surge-15-20-pc-post-maruti-suzuki-announcing-rate-cut-report-639502.html New Delhi Aug 19 Customer enquiries for cars have increased significantly by 1520 per cent across segments after Maruti Suzuki India MSIL announced passing on the full benefits of GST 20 a report said on Friday Dealers have been witnessing a surge in enquiries in both online and walkin and especially for entrylevel cars like K10 Celerio Spresso and Wagon R in Tier1 cities HSBC Global Investment said in its reportAccording to the report the share of firsttime buyers has increased by 57 per cent in total bookings so farThe premium hatchback segment Swift Baleno and others is also seeing a decent uptickThe report highlighted that the passenger vehicle PV segment is now expected to grow by double digits YoY during the upcoming festive season compared to single digits before the GST cut announcementMSIL announced steep price cuts on its entrylevel portfolio more than the impact of the GST cutMSIL took a price cut of 1121 per cent on its entrylevel portfolio 911 per cent on premium hatchbacks and up to 8 per cent on Brezza more than the impact of the GST cut 358 per cent the report notedMaruti Suzuki announced a reduction in car prices across its portfolio on Thursday allowing customers to fully benefit from the recent drop in the GST rates on carsEntrylevel models will see the biggest reductions with the Alto K10 and SPresso seeing price reductions of up to Rs 107 lakh and Rs 129 lakh respectivelySignificant savings of between Rs 71300 and Rs 129 lakh will also be available for other hatchbacks including the Celerio WagonR and IgnisThe cost of small SUVs will also decreaseThe GST Council approved the 5 and 18 per cent tax structure scrapping the earlier four slab 512181nd 28 per centBy primarily setting GST rates at 18 per cent for small cars and 40 per cent for larger or luxury vehicles this reform streamlines the tax structure and does away with the previous compensation cess EVs are still under a favourable 5 per cent GST rate IANS https://dailyworld.in/business/customer-inquiries-surge-15-20-pc-post-maruti-suzuki-announcing-rate-cut-report-639502.html Fri, 19 Sep 2025 22:01:00 +0530 https://dailyworld.in/business/piyush-goyal-expects-uae-to-step-up-investments-in-india-639521.html New Delhi Sep 19 Commerce and Industry Minister Piyush Goyal said on Friday that investments from the cashrich United Arab Emirates UAE into India are likely to shoot up both as FDI in business ventures and FII in the capital markets My sense is we can look at a larger investment flow from the UAE Given where the Indian economy is today we will look at much larger pools of capital coming into India both as FDI and FII the Minister who is on a twoday trip to the UAE on Thursday and Friday during which he cochaired the 13th IndiaUAE High Level Task Force on Investments along with Abu Dhabi Investment Authority ADIA Managing Director Sheikh Hamed bin Zayed Al Nahyan and reviewed progress on the IndiaUAE Comprehensive Economic Partnership Agreement CEPA the Double Taxation Treaty and UAEIndia Central Bank mattersHe pointed out that the UAE has emerged as a hub of activities for Africa the Middle East and Central EuropeIndia would like to leverage on the hub of investment that the UAE has been successful in creating the minister remarkedGoyal highlighted the complementarity between the UAEs large capital base and Indias skilled talent pool which could lead to a beneficial partnership between the two countriesThere are many thirdcountry requirements where large pools of capital can be deployed It can become a winwin for the third country for the UAE as a provider of large capital and India as a provider of skill and talent We are trying to encourage the private sectors of both countries to work in that direction he saidBusinesses on both sides have used the FTA between India and the UAE to their advantage allowing us to reset our ambitions to a higher level and look at a nonoil and nonprecious metal bilateral trade of 100 billion in the next 3 to 4 years he addedOn Friday Goyal held a series of meetings focused on strengthening bilateral trade deepening investment ties and exploring new avenues of cooperation to further enhance relations a Commerce Ministry statement saidHe engaged with CEOs of prominent Indian and UAE companies during the UAEIndia Business Council UIBC Roundtable which he cochaired alongside the UAEs Minister of Foreign Trade Dr Thani bin Ahmed Al ZeyoudiBoth leaders expressed deep satisfaction over the evergrowing economic partnership between India and the UAE and highlighted the significant role played by the business community in furthering the relationship between the two countriesThere were discussions around the exchange of views on enhancing bilateral trade and investment flows strengthening business partnerships and identifying new areas of economic collaborationProgress on key cornerstone projects like Bharat Mart and India UAE Friendship Hospital was also discussed and the role they would play in enhancing bilateral trade and investments as well as their impact on the wider Indian diaspora in the UAE was also outlinedBoth ministers also noted the increasing role of business leaders in philanthropic initiatives and further commented on the constructive role of these initiatives for the wider community They invited businesses to not just explore opportunities in India and in the UAE but also widen their scope and ambition to other regions such as Africa Europe and Central AsiaAn interaction session between Goyal and prominent UAE business leaders was coordinated by Apparel Group Chairman Nilesh Ved with discussions focused on expanding the investment outreach and highlighting Indias potential to support UAE companies regional and global ambitions The minister outlined the recent progress made by the Indian economy in terms of macroeconomic growth infrastructure development and social inclusion and further emphasised Indias growth path towards Viksit Bharat He invited UAE businesses to leverage the upcoming growth opportunities in India the statement saidDuring these engagements UAE investors shared constructive perspectives on further enhancing the investment environment including issues related to market access regulatory processes and dispute resolution it addedMatters such as arbitration frameworks and predictability of enforcement were also discussed in a forwardlooking manner The minister reiterated Indias commitment to providing a transparent and facilitative business environment and highlighted the governments sustained focus on reforms to strengthen investor confidence and the countrys recent economic performanceGoyal also held focused discussions with First Abu Dhabi Bank CEO Hana Al Rostamani IFFCO Groups Irfan Allana and Sharaf Groups Sharafuddin Sharaf These discussions focused on growth pathways for the companies to enhance their India presence and deepen financial and economic partnerships between businesses of both countries the statement saidHe also interacted with representatives of the India Peoples Forum reflecting the continued engagement with the Indian diaspora and its integral role in strengthening the cultural and economic bonds between India and the UAE He highlighted the significant contributions made by the Indian diaspora in the UAE and its role in driving economic partnership between both countries IANS https://dailyworld.in/business/piyush-goyal-expects-uae-to-step-up-investments-in-india-639521.html Fri, 19 Sep 2025 23:07:00 +0530 https://dailyworld.in/business/india-tops-in-fdi-stocks-in-nepal-639522.html Kathmandu Sep 9 Even though China maintains that it has topped Foreign Direct Investment FDI commitments to Nepal in recent years it is actually India which continues to rule the roost when it comes to the actual stock of FDI prevailing in the country According to a study released recently by the Nepal Rastra Bank NRB the Central Bank the FDI stock from India topped the chart FDI stock is the total accumulated value of Foreign Direct Investments over timeAccording to the Survey Report on Foreign Direct Investment in Nepal 202324 total FDI stock in Nepal stood at Rs 333 billion in fiscal year 202324 with paidup capital accounting for 507 per cent reserves 367 per cent and loans 126 per centOf the total FDI stock India ranked in the top position 323 per cent followed by China 102 per cent Singapore 83 per cent Ireland 69 per cent and South Korea 61 per centIndia has topped the chart at a time when Chinese investors have been making huge FDI commitments consistently leading the chart over the last decade according to the Department of Industry where industries including those with FDI are registered Till midJune of fiscal year 202425 Chinese investment commitments to Nepal topped the chart with 4477 per cent followed by India with 1955 per cent the department saidIndia continuing to have dominant FDI stocks in Nepal suggests that huge FDI pledges from China have not been realised to the maximum levels Prakash Kumar Shrestha former Executive Director of NRB told IANS On the other hand Indian FDI stocks in Nepal have remained since the early 1990s and recently Nepal received huge Indian investment to develop the 900 MW Arun 3 Hydropower Project in eastern Nepal he addedIndias SJVN Limited a stateowned company has been developing one of the largest hydropower projects in Nepal which is now nearing completionThe same Indian company has also been awarded two other hydropower projects the 669MW Lower Arun Hydropower Project and the 490MW Arun4 Hydropower Project The latter will be developed in partnership with the Nepal Electricity AuthorityRajesh Kumar Agrawal former President of the Confederation of Nepalese Industries CNI a representative body of medium and large scale industries said Indias FDI stock continues to remain high because of the significant FDI Nepal received in the 1990s when companies including Unilever Nepal Dabur Nepal and Arati Strips Pvt Ltd among others established in Nepal with investment from IndiaEven though Chinese investment commitments have surpassed Indias in recent years it will take time for the realisation of Chinese investment commitments in Nepal he told IANSNot all FDI commitments are realised according to experts It depends on several factors investment climate market availability investor mentality the situation of alternative markets among others said Shrestha IANS https://dailyworld.in/business/india-tops-in-fdi-stocks-in-nepal-639522.html Fri, 19 Sep 2025 23:08:00 +0530 https://dailyworld.in/business/food-inflation-for-farm-and-rural-labourers-stays-in-negative-zone-during-august-639527.html New Delhi Sep 19 The yearonyear inflation rates based on the allIndia consumer price index for agricultural labourers CPIAL and rural labourers CPIRL for August this year were estimated at 107 per cent and 126 per cent respectively figures released by the Ministry of Labour amp Employment on Thursday showed The food inflation for agricultural and rural labourers stayed in the negative zone at 055 per cent and 028 per cent respectively as prices of food items fell during the month due to increased productionThe inflation rate for agricultural and rural labourers was marginally higher than the 077 per cent and 101 per cent in July The inflation rate declined for 9 consecutive months till July coming as a welcome relief for these vulnerable segments that are hit hardest by spiralling prices It also leaves more money in their hands to buy a wider range of goods leading to a better lifestyleThe Labour Bureau under the Ministry of Labour amp Employment has revised the base year of the Consumer Price Index Numbers for Agricultural Labourers and Rural Labourers to 2019100 since June this year These indices are based on data collected from a set of 787 sample villages across 34 States and UTsThe newly constructed CPI AL amp RL series Base 2019100 replaces the earlier 198687100 seriesThe revised series has significantly enhanced the scope and coverage and incorporated many methodological changes in order to make the indices more robustCalculation of prices of PDS items has been done using the admissibility concept instead of availability as in the old series the revised series covers 34 states and UTs as against 20 states in the old series prices are collected from 787 sample villages as against 600 villages in the old series and cover 150200 items as against 65106 items in the old series IANS https://dailyworld.in/business/food-inflation-for-farm-and-rural-labourers-stays-in-negative-zone-during-august-639527.html Fri, 19 Sep 2025 23:13:00 +0530 https://dailyworld.in/business/sensex-nifty-open-marginally-lower-amid-mixed-global-cues-639362.html Mumbai Sep 19 The Indian benchmark indices opened marginally lower on Friday with IT stocks leading the losses in early trade As of 926 am Sensex was down 241 points or 029 per cent at 82772 and Nifty was down 63 points or 025 per cent at 25360The US Federal Reserve resumed interest rates cut cycle by reducing rates by 25 basis points but the outlook on further easing in the months ahead failed to meet the investors dovish expectations while markets awaited more cues into US policy path according to analystsNifty Midcap 100 inched up by 016 per cent and the Nifty Small cap 100 lost 004 per centHero MotoCorp Shriram Finance Maruti Suzuki NTPC Tech Mahindra were among major gainers on Nifty while losers were ICICI Bank Bajaj Finance Tata Consumer and Titan CompanyAmong sectoral indices Nifty IT the top loser lost 040 per cent Nifty FMCG and Nifty Private bank also weighed down on the indices Except Nifty Realty and PSU Bank all other sectoral indices were trading in the red or with marginal gainsThe Nifty50 held firmly above the 25400 mark in the previous session signalling investor confidence with upside momentum intactAnalysts said that while buying interest is visible at lower levels the 2550025600 zone remains a stiff hurdle on the upside On the downside support is placed at 2530025100 for any minor pullbackMarket is on an uptrend and is well positioned to set new records soon Fundamentals technicals and sentiments are favourable for a steady uptrend Earnings are likely to improve from Q3 onwards Technically short covering is happening and can accelerate said Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LimitedFrom the market sentiment perspective a USIndia trade deal without the penal tariff and a lower reciprocal tariff is likely he addedMajor US indices made gains overnight as the Nasdaq added 094 per cent the SampP 500 edged up 048 per cent and the Dow inched up 027 per centMost of the Asian markets were trading in the green during the morning session While Chinas Shanghai index dipped 012 per cent and Shenzhen advanced 023 per cent Japans Nikkei edged up 077 per cent while Hong Kongs Hang Seng Index moved up 012 per cent South Koreas Kospi lost 046 per centOn Thursday foreign institutional investors FIIs purchased equities worth Rs 366 crore while domestic institutional investors DIIs were net buyers of equities worth Rs 3326 crore IANS https://dailyworld.in/business/sensex-nifty-open-marginally-lower-amid-mixed-global-cues-639362.html Fri, 19 Sep 2025 10:15:00 +0530 https://dailyworld.in/business/adani-power-a-turnaround-in-indias-corporate-history-says-morgan-stanley-with-29-pc-stock-upside-639366.html Mumbai Sep 19 Shares of Adani Power Ltd APL surged in the morning trade on Friday after global brokerage Morgan Stanley initiated Overweight on the company with a target price of Rs 818 projecting an upside of 29 per cent from its previous closing price The brokerage said in a note that Adani Power is a good illustration of turnaround in Indias corporate history with resolution on most regulatory issues and multiple valueaccretive acquisitionsAPL will deliver strong earnings growth driven by timely completion of projects and more PPA wins medium term Initiate at OW Overweight and Top Pick said the brokerageNew coal power purchase agreements PPAs should improve investor confidence in earnings power Morgan Stanley addedIt also forecast that the companys capacity and earnings before interest taxes depreciation and amortisation EBITDA will rise 25 times and 3 times by the financial year 2033 respectivelyWe believe coal holds the key to Indias energy security with nuclear being a driver in the next decade India is looking to add 80GW of coal by F32 there is currently a large power purchase agreement PPA pipeline of 20GW according to the noteThe stock was trading about 78 per cent up in the morning trade Shares of Adani Power ended the previous session 05 per cent upAdani Ports is Indias largest independent power producer and secondlargest power producer after NTPC with 8 per cent share in both coal and generationWe forecast its market share to reach 15 per cent by F32e with a 419GW portfolio 25x vs F25 APL has seen favourable resolution of most regulatory issues and has a strong balance sheet F25 net debtEBITDA 15x We expect 6065 per cent of its US27 billion capex for a 237GW addition to be met through internal accruals said the brokerageIncrementally timely project completions land acquired boiler turbinegenerator orders placed construction execution by Adani Group and lower external debt combined with PPAs getting signed would drive earningsWe see upside to our estimates if APLs merchant portfolio declines from 20 per cent currently and profitability in recently acquired 29GW power plants improves the brokerage note said IANS https://dailyworld.in/business/adani-power-a-turnaround-in-indias-corporate-history-says-morgan-stanley-with-29-pc-stock-upside-639366.html Fri, 19 Sep 2025 10:45:00 +0530 https://dailyworld.in/business/cm-yogi-to-review-preparations-for-up-international-trade-show-in-greater-noida-today-639391.html Greater Noida Sep 19 Chief Minister Yogi Adityanath will review preparations for the UP International Trade Show in Greater Noida on Friday The administration and organising committee have completed all preparations for the international trade show which begins on September 25 at the India Expo Mart in Greater NoidaChief Minister Yogi Adityanath will personally visit Greater Noida to review these preparations and hold a review meeting with officialsCM Yogis visit is scheduled for this afternoon where he will inspect the exhibition site and thoroughly review security and arrangements This International Trade Show is considered very special for Uttar Pradesh as approximately 2500 exhibitors are participating These exhibitors representing various industries businesses and enterprises will showcase their products and servicesSignificantly Russia has been selected as the country partner which is expected to further strengthen trade relations between India and RussiaThe administration has made strict security arrangements Police personnel have been deployed in Greater Noida and the surrounding areasAccording to reports more than 1000 police personnel have been called in from other districts to strengthen security Additionally several PAC companies have been deployed The Expo Mart complex and surrounding areas are under strict surveillanceThe administration has issued instructions to maintain special vigilance A review meeting this afternoon will review security traffic parking exhibition arrangements guest reception and preparations for foreign delegatesOrganisers said this years trade show will be a great opportunity to showcase Uttar Pradeshs industrial and business potential to the world Entrepreneurs from handicrafts textiles agriculture IT startups and many other sectors will participateIt is hoped that this event will not only strengthen the states image but also create new investment and business opportunitiesThis is one of several recent visits by the Chief Minister to the Noida and Greater Noida region He also visited in August to inaugurate a manufacturing unit with Defence Minister Rajnath SinghThe UP International Trade Show 2025 is the flagship B2B and B2C event of the Uttar Pradesh government highlighting the states industrial progress entrepreneurial spirit and global business potentialThis mega trade show the third edition of its International Trade Show UPITS from September 2529 serves as a platform for industries startups exporters and business leaders to showcase their innovations build partnerships and explore new market opportunities on both national and international levels IANS https://dailyworld.in/business/cm-yogi-to-review-preparations-for-up-international-trade-show-in-greater-noida-today-639391.html Fri, 19 Sep 2025 12:14:00 +0530 https://dailyworld.in/business/india-is-largest-flexible-office-market-in-asia-pacific-report-639399.html New Delhi Sep 19 India is the largest flexible workspace market in the AsiaPacific region APAC with 797 million square feet MSF of stock across top 8 cities as of the Q2 2025 a report said on Friday It is expected to reach 85 MSF by yearend and surpass 100 MSF by 2026 Cushman and Wakefield said in its report on FridayThis growth has been matched by surging demandAccording to the report flex demand has risen nearly sixfold since 2020 fuelled by occupiers prioritising shorter commitments managed solutions and speedtomarket strategiesIn 2024 alone flexible space accounted for 15 per cent of total new office leasing confirming its mainstream adoptionOperator expansion has also accelerated sharplyOver the past three years 20222024 flexible workspace providers leased 335 MSF equivalent to more than 5 lakh seatsAnnual operator takeup has tripled in just five years from 43 MSF in 2020 to 154 MSF in 2024 firmly establishing flexible workspace as a core workplace solution rather than an alternate option the report statedFlexibility and agility are driving Indias flex space story and this trend is set to accelerate as firms actively seek businessready offices to rapidly scale or adjust headcount as neededThe bulk of this demand is coming from international enterprises which accounted for 72 per cent of flex seat absorption in 2024 while startups took up 28 per cent the report notedThe significant influx of Global Capability Centres and other new companies entering India is accelerating this shift further solidifying flexible workspaces as the preferred model for companies seeking speed resilience and growth in a dynamic marketThe managed officeenterprise model now dominates accounting for 7080 per cent of demand postCOVID well ahead of traditional coworkingAccording to the report the bulk of this stock remains concentrated in the top 8 cities with Bengaluru leading the charge holding 30 per cent of the national flex inventory followed by DelhiNCR Pune and HyderabadBengaluru also leads the demand accounting for an average of onethird of annual enterprise transactions in the countryBeyond these leading Metros occupiers are increasingly expanding to TierII cities such as Chandigarh Jaipur Kochi Trivandrum Coimbatore Visakhapatnam and Bhubaneswar to tap into new talent pools and capitalise on lower operating costsIndia stands out for the strength and maturity of its flexible workspace marketScoring a perfect 100 on Cushman and Wakefields maturity index India has outpaced its global peers with wellestablished office markets including the United Kingdom at 98 per cent France at 97 per cent the United States at 81 per cent and both Japan and Singapore at 77 per cent respectively the report highlighted IANS https://dailyworld.in/business/india-is-largest-flexible-office-market-in-asia-pacific-report-639399.html Fri, 19 Sep 2025 12:55:00 +0530 https://dailyworld.in/business/iphone-17-pre-bookings-in-india-surpass-iphone-16-levels-report-639401.html New Delhi Sep 19 Prebookings for Apples iPhone 17 series in India have surpassed those of the iPhone 16 during the launch period with the new series projected to account for 1520 per cent of sales as per industry sources The prebooking numbers for iPhone 17 indicate a potentially strong Diwali quarter for Apple according to analysts despite supply constraints of iPhone 17 Pro modelsThe data indicated that total iPhone shipments in India are expected to surpass 5 million units in the JulySeptember period in 2025 Apple shipped approximately 4 million iPhones in Q3 2024 with new models accounting for 10 per cent of salesAnalysts said that demand for the iPhone 17 Pro and Pro Max is particularly high creating the possibility of supply shortages in the early weeks of launch Basemodel preorders for the upgraded 256 GB storage have surged with Cosmic Orange being the most soughtafter colourThe base variant has been upgraded to 256GB making it a better value proposition compared to last years launch they saidiPhone 17 series will be available for purchase in India starting today Apples latest lineup starts at Rs 82900 for the iPhone 17 256GB The new iPhone Air a slimmer model begins at Rs 119900 while the iPhone 17 Pro 256GB is priced at Rs 134900 At the top end the iPhone 17 Pro Max 256GB comes in at Rs 149900Retailers indicate that base models will be widely available while Pro and Pro Max allocations are significantly limited comprising only about 10 per cent of typical deliveries This scarcity is leading to blackmarket premiums of 1020 per centAnalysts noted that the iPhone 16 was Indias highestselling model in H1 2025 driving 9650 per cent growth in the premium smartphone segmentApple has recently opened two new stores in Bengaluru and Pune as part of its retail expansion in India anticipating it to be the next key market In Apples largest overseas market China sales grew by only 44 per cent in the June quarter following two years of declinesIndia is also becoming central to Apples manufacturing plans with one in every five iPhones now being produced in the country IANS https://dailyworld.in/business/iphone-17-pre-bookings-in-india-surpass-iphone-16-levels-report-639401.html Fri, 19 Sep 2025 12:56:00 +0530 https://dailyworld.in/business/technology-has-become-indias-greatest-equaliser-pm-modi-639405.html New Delhi Sep 19 Prime Minister Narendra Modi on Friday highlighted that technology has become Indias greatest equaliser empowering everyone from street vendors to corporate executives Through initiatives such as India Stack UPI JAM trinity and CoWIN innovation and inclusion have transformed lives improved governance and strengthened Indias role on the global stage PM Modi statedThe Prime Minister was responding on X to an article by Minister of Electronics amp IT Ashwini Vaishnaw which points out that while earlier getting a government document was a whole saga involving multiple trips long queues and random fees now its literally in your mobile phone due to the revolution in technology that has taken place during PM Modis regimePrime Minister Narendra Modi turned technology into Indias greatest equalizer A street vendor in Mumbai uses the same UPI payment system as a corporate executive Technology in his vision knows no hierarchyThis transformation reflects his core philosophy of antyodaya reaching the last person in the queue Every digital initiative aims to democratise technology for all What began as experiments in Gujarat became the foundation for Indias digital revolution Viashnaw statedThe article states that as Chief Minister PM Modi transformed Gujarat through the use of technology and innovation The Jyotigram scheme launched in 2003 used feeder separation technology Rural industries revived with 24x7 power while groundwater depletion slowed through scheduled farm electricityHe also decided to install solar panels on the Narmada canal in 2012 This project generated 16 million units annually enough for 16000 households It also slowed the rate of evaporation which ultimately increased the availability of waterThis dualbenefit approach showcases PM Modis vision for technology Through a single intervention it solved multiple problems Generating clean energy while conserving water It demonstrated efficiency and impact far beyond standalone solutionsGlobal adoption by the US and Spain adds credibility to the innovations effectivenessThe article also points out that the eDhara system digitised land records in the state SWAGAT allowed citizens to meet the Chief Minister through video conferencing and online tenders eliminated corruptionVaishnaw states that in 2014 PM Modi brought the experience and learning of Gujarat to Delhi But the scale was differentUnder his leadership India Stack the worlds most inclusive digital public infrastructure began to take shape The JAM trinity formed its foundationJan Dhan accounts brought more than 53 crore people into the banking system This brought the hitherto financially excluded into the formal economy for the first timeStreet vendors daily wage workers and rural families who lived entirely on cash now have bank accounts This enabled them to save securely receive government benefits directly and access creditAadhaar gave the citizens a digital identity with 142 crore registrations done so far Accessing government services became easier instead of requiring multiple document verificationsDirect Benefit Transfer eliminated middlemen and reduced leakages The savings from the usage of DBT have been over Rs 43 lakh crore so far The savings are used for building more schools hospitals and infrastructure projects IANS https://dailyworld.in/business/technology-has-become-indias-greatest-equaliser-pm-modi-639405.html Fri, 19 Sep 2025 14:00:00 +0530 https://dailyworld.in/business/indias-smartphone-market-grows-2-pc-in-1h25-report-639408.html New Delhi Sep 19 Indias smartphone market grew by 2 per cent yearonyear YoY in the first half of 2025 with 60 million units shipped a new report said on Friday Apple emerged as the fastestgrowing brand with a strong 35 per cent jump in shipments according to data compiled by International Data Corporation IDCThe report said that premium smartphones priced above Rs 50000 played a big role in driving growth while the midrange segment of Rs 1000020000 remained the largest in terms of overall volumesRegionally the northern states led the market with 33 per cent share while the southern region grew the fastest the report saidSmaller Tier4 cities including Mysore and Shimla also recorded strong doubledigit growth showing rising demand beyond metros and big townsMeanwhile another report by CyberMedia Research CMR said Indias premium smartphone market is set to grow by 18 per cent in sales and 24 per cent in value during the upcoming festive seasonWithin this superpremium devices in the Rs 50000100000 category are expected to grow 15 per cent while the uberpremium segment priced above Rs 100000 could see a massive 167 per cent surgeAccording to Prabhu Ram VPIndustry Research Group at CMR aspirational buyers especially Gen Z and millennials are driving the premium segment as they seek powerful devices that match their digital lifestylesWith increasing accessibility and affordability initiatives more consumers are now looking to buy the latest premium devices he saidSamsung Apple and OPPO led the premium smartphone market in July with 28 per cent 23 per cent and 11 per cent share respectivelyApple backed by its latest iPhone 17 series and steady demand for older iPhones is well placed for a strong festive season the report addedConsumers are also giving more importance to chipsets that power smartphones Features such as seamless multitasking highend gaming advanced cameras and AIdriven experiences are becoming top priorities for buyersAnalysts said that while overall smartphone market growth remains modest strong demand in the premium segment and intensifying competition among brands will give Indian buyers more options this festive season IANS https://dailyworld.in/business/indias-smartphone-market-grows-2-pc-in-1h25-report-639408.html Fri, 19 Sep 2025 14:01:00 +0530 https://dailyworld.in/business/softbanks-vision-fund-to-lay-off-20-pc-of-its-workforce-to-focus-on-ai-639412.html New Delhi Sep 19 Japanese investment giant SoftBank Group Corps Vision Fund is laying off approximately 20 per cent of its workforce as founder Masayoshi Son shifts the 100 billion funds focus towards artificial intelligence Over 50 of Vision Funds 282 employees are expected to be laid off due to job cuts according to multiple reports The company spokesperson said that the decision aligns with the organisations longterm strategy to focus on significant investments in AI and breakthrough technologiesMasayoshi Sons AI plans include an investment of around 30 billion in OpenAI and a 65 billion deal to acquire chip designer Ampere Computing which faces regulatory scrutiny SoftBank has so far invested roughly 10 billion in OpenAIIt has partnered with OpenAI and Oracle on a proposed 500 billion Stargate initiative to establish US AI data centres and is considering a 1 trillion AI industrial park with TSMCThe Vision Fund launched in 2017 had a workforce of 474 at its peak in March 2020 SoftBank has reduced its assets and cut its workforce by 40 per cent to secure funding for sizable AI investments as it felt unnecessary to have an army of investment advisers to oversee fresh or existing dealsLast month Softbank signed a securities purchase agreement under which SoftBank will make a 2 billion investment in Intel Both companies said that they have deepened their commitment to investing in advanced technology and semiconductor innovation in the United StatesMasayoshi said that the strategic investment reflected the companys belief that advanced semiconductor manufacturing and supply will further expand in the United States with Intel playing a critical roleUnder the terms of the agreement SoftBank will pay 23 per share of Intel common stock SoftBanks investment in Intel builds upon its longterm vision of enabling the AI revolution by accelerating access to advanced technologies that support digital transformation cloud computing and nextgeneration infrastructure IANS https://dailyworld.in/business/softbanks-vision-fund-to-lay-off-20-pc-of-its-workforce-to-focus-on-ai-639412.html Fri, 19 Sep 2025 14:25:00 +0530 https://dailyworld.in/business/kaynes-technologys-shares-fall-after-ceo-rajesh-sharma-resigns-639414.html New Delhi Sep 19 Shares of Kaynes Technology slipped in Fridays trade after the company announced that its Chief Executive Officer CEO Rajesh Sharma has resigned The stock fell sharply by nearly 5 per cent in late morning deals on the National Stock Exchange NSE to hit an intraday low of Rs 6882However it later recovered some losses and was last seen trading at Rs 707450 still down over 2 per centIn a regulatory filing the company said Sharma has decided to step down to pursue opportunities outside the organisationHis resignation will take effect from the close of business hours on October 31 2025Sharma who joined Kaynes nearly four years ago called his journey with the company very fulfilling both professionally and personallyMy journey with Kaynes Technology since my joining the company nearly 4 years ago has been very fulfilling both professionally and personally he saidIn his resignation letter he highlighted key milestones during his tenure including the successful IPO and public listing expansion of manufacturing capacities acquisitions in India and abroad substantial revenue growth and crossing a market capitalisation of over Rs 50000 croreThis journey covered several major milestones for the Company from a successful IPO and consequential public listing to expanding manufacturing capacities Sharma wroteAt this juncture I believe it is time for me to embark on a new professional journey to take up another exciting and challenging assignment Sharma addedKaynes Technology is an integrated electronics manufacturer that offers Internet of Things IoTenabled solutions across industries such as automotive aerospace and defence medical nuclear and ITThe company provides endtoend services including product design process engineering electronics manufacturing and lifecycle supportDespite Fridays fall Kaynes shares have delivered strong returns to investors The stock has surged nearly 54 per cent in the past six months gained about 125 per cent in the last 30 days and risen 30 per cent over the past year IANS https://dailyworld.in/business/kaynes-technologys-shares-fall-after-ceo-rajesh-sharma-resigns-639414.html Fri, 19 Sep 2025 14:28:00 +0530 https://dailyworld.in/business/gst-reforms-suzuki-motorcycle-slashes-two-wheeler-prices-by-up-to-rs-18-000-639422.html New Delhi Sep 19 Passing on the full benefit of Goods and Services Tax GST reforms Suzuki Motorcycle India on Friday announced to cut prices on its twowheeler range by up to Rs 18000 from September 22 According to the twowheeler subsidiary of Suzuki Motor Corporation the Gixxer SF 250 model would see the highest price cut of Rs 18024 in the exshowroom price followed by VStrom SX Rs 17982 Gixxer 250 Rs 16525 and Gixxer RS 11520Among the scooter range the Burgman Street Ex will become Rs 9798 cheaper the Burgman Street price will go down by Rs 8373 the Avenis will have a price reduction of Rs 7823 and the Access price has been reduced by Rs 8523The twowheeler manufacturer said that the GST 20 reforms will make Suzuki twowheelers and spare parts more affordable and accessible across the countryRecently the union government announced GST 20 which reduced indirect tax rates from 28 per cent to 18 per cent on all twowheelers up to 350cc and on all auto componentsThe reforms have been introduced to rationalise taxation and provide direct benefits to consumersIn line with this initiative SMIPL has undertaken a comprehensive revision of its price structure across all variants of its scooters and motorcyclesAlongside twowheelers the reduced GST on spare parts and accessories will directly translate into lower maintenance costs collectively enhancing the overall ownership value for Suzuki customers the company saidOur customers are always at the core of everything we do We welcome the Government of Indias GST 20 reforms which are a progressive step towards making mobility more affordable for the masses In keeping with our customerfirst approach we pass on the complete benefit of these reforms on both our twowheelers and spare parts reducing the purchase as well as maintenance costs said Deepak Mutreja VicePresident Sales and Marketing Suzuki Motorcycle India Pvt LtdComing just ahead of the festive season this move is expected to further uplift customer sentiment make our product range even more attractive and give a strong push to demand in the twowheeler marketThe new prices will come into effect from September 22 IANS https://dailyworld.in/business/gst-reforms-suzuki-motorcycle-slashes-two-wheeler-prices-by-up-to-rs-18-000-639422.html Fri, 19 Sep 2025 14:54:00 +0530 https://dailyworld.in/business/indias-flexi-workforce-projected-to-grow-126-pc-annually-reach-916-mn-by-fy27-report-639428.html New Delhi Sep 19 Indias flexi workforce is expected to grow to 916 million by FY27 at a compound annual growth rate CAGR of 126 per cent a new report said on Friday The data compiled by the Indian Staffing Federation ISF highlights that the flexi staffing industry will play a major role in shaping formal employment in the coming years supported by economic recovery and rising demand across sectorsThe ISF report titled Indian Flexi Staffing Industry 2025 Employment Growth Sectoral amp State Analysis projects the flexi staffing industrys revenue to reach nearly Rs 258000 crore about 24 billion by FY27 growing at a rate of 173 per centBy FY26 the market is expected to touch Rs 220000 crore This growth reflects how companies are increasingly relying on contract and temporary staff to remain agile reduce compliance burdens and access skilled talent quicklyCurrently India ranks third globally in flexi workforce size The countrys tripartite workforce reached 72 million in FY25 representing 13 per cent of the total workforceMaharashtra Karnataka Uttar Pradesh Tamil Nadu and Telangana together account for nearly 55 per cent of this workforce while Tier2 and Tier3 cities such as Coimbatore Mysuru Indore Bhopal and Surat are emerging as key hubs for hiringSectorwise logistics banking and financial services BFSI and manufacturing together employ about 38 per cent of the countrys formal contract staffThe ecommerce sector meanwhile has recorded the fastest growth in flexi hiring over the past five years with an average annual growth of nearly 20 per centFintech has also emerged as a strong contributor Overall 80 per cent of the workforce comes from 12 key sectors including IT infrastructure retail education and healthcareISF President Lohit Bhatia said the rise of flexi staffing is a sign of deepening formal employment across the countryHe noted that Tier2 and Tier3 cities are offering temporary workers the benefits of recognised employment fair pay annual incentives and health coverageThis reflects the growing availability of skilled labour outside metros and the shift towards a more equitable job market he saidAccording to the report the trend is also being shaped by Indias younger workforceAbout 71 per cent of those seeking flexi jobs are under 30 years of age while womens participation stood at 26 per cent in the last fiscal IANS https://dailyworld.in/business/indias-flexi-workforce-projected-to-grow-126-pc-annually-reach-916-mn-by-fy27-report-639428.html Fri, 19 Sep 2025 15:21:00 +0530 https://dailyworld.in/business/mumbai-tops-indias-data-centre-capacity-surpassing-4-gw-milestone-report-639430.html New Delhi Sep 19 Mumbai has emerged as Indias data centre capital accounting for 40 per cent of the nations total capacity and 44 per cent of live IT capacity a report said on Friday In the first half of 2025 Mumbais capacity jumped 143 per cent to exceed the 4 GW milestone comprising 591 MW operational 185 MW under construction and 32 GW in the pipeline according to a report from real estate services firm Knight FrankThis growth builds on Indias data centre market surpassing 10GW in H2 2024 supported by 14GW live and 400MW under construction the report addedWith 976 MW of takeup over six months the citys vacancy rate at data centres is at 54 per cent less than half Indias overall vacancy of 123 per cent Twothirds of underconstruction space is already preleased to companiesThree live Mumbai sites can support hyperscale deployments above 25 MW and just one offers more than 10 MW available Hence the fragmented market of smaller 1 MW2 MW facilities has encouraged global players and joint ventures to plan highcapacity campuses such as NTTs 500 MW NAV2 project and BlackstonePanchshil Realtys 500 MW AI facilityHyderabad Indias secondlargest datacentre market at 21 GW is positioning itself for hyperscale growth with over 500 MW in new capacity via two major projects the report notedWith over 3GW of capacity in the pipeline and strong policy support for green data centre parks Mumbai is attracting sustained global investment said Shishir Baijal Chairman and Managing Director Knight Frank IndiaIts robust subsea cable connectivity scalable power infrastructure proximity to enterprise hubs and progressive state policies make it South Asias gateway for cloud AI and enterprise workloads he addedMumbai has firmly established itself as the epicentre of Indias digital infrastructure growth While other metros like Chennai Hyderabad and Bengaluru are gaining traction none match Mumbais scale speed and ability to serve as South Asias gateway for cloud AI and enterprise workloads IANS https://dailyworld.in/business/mumbai-tops-indias-data-centre-capacity-surpassing-4-gw-milestone-report-639430.html Fri, 19 Sep 2025 15:22:00 +0530 https://dailyworld.in/business/blue-economy-is-central-to-indias-growth-pm-modi-639438.html New Delhi Sep 19 Prime Minister Narendra Modi on Friday highlighted that the Blue Economy is central to Indias growth combining prosperity sustainability and national strength Initiatives like Sagarmala Deep Ocean Mission and Harit Sagar Guidelines to harness ocean resources are empowering communities driving innovation and strengthening Indias leadership in global ocean governance PM Modi statedThe Prime Minister was responding on X to a post by Union Minister of State Dr Jitendra Singh who wrote the articleThe article states that with a revised coastline stretching now over 11098 kms and a vast Exclusive Economic Zone spanning 24 square million kms India is exceptionally wellplaced to build a 100 billion growth engine through a sustainable use of ocean resources creating jobs supporting coastal communities protecting marine ecosystems and strengthening our global maritime presenceWe are now in Blue Economy 20 focusing just not on traditional sectors but also the emerging Highpotential areas that will define our future growth For example the Deep Ocean Mission is helping our scientists explore the deep sea using the Matsya submersible Aiming to find strategic resources and create new technologies for the future The Sagarmala Programme is modernising our ports to make our trade more efficient and our business more competitive For our coastal communities the Pradhan Mantri Matsya Sampada Yojana PMMSY is a flagship scheme to bring a blue revolution to our fisheries sector Singh saidBut our vision goes far beyond this It empowers people and protects our planet It includes creation of new opportunities for the empowerment of women by encouraging them to lead in sustainable fields like seaweed farming and ecofriendly tourism providing them new income streams and a greater voice in their communities he addedThe PMMSY scheme completed five years of its launch on September 10 2020 as a landmark initiative that has ushered in the Blue Revolution in Indias fisheries sector with the country becoming the second largest fish producer in the worldThe scheme has enabled India to achieve record fish production of 195 lakh tonnes in 202425 a sharp rise from 14164 lakh tonnes in 201920 contributing nearly 8 per cent of global fish productionIndias fisheries exports have shown robust growth increasing from Rs 4666285 crore in 201920 to Rs 6052489 crore in 202324 strengthening the countrys position in the global seafood marketPMMSY has also succeeded in creating 58 lakh employment opportunities as of December 2024 surpassing the target of 55 lakh It has also led to the empowerment of 99018 women through an outlay of Rs 406196 crore sanctioned from 202021 to 202425 the statement saidThe scheme has been working towards making the fisheries sector ecologically healthy economically viable and socially inclusive by addressing critical gaps in production and productivity quality technology infusion and postharvest infrastructurePMMSY promotes womens participation in fisheries by providing up to 60 per cent of total project cost as financial assistance up to Rs 15 crore per project under beneficiaryoriented activities and the entrepreneur model IANS https://dailyworld.in/business/blue-economy-is-central-to-indias-growth-pm-modi-639438.html Fri, 19 Sep 2025 15:52:00 +0530 https://dailyworld.in/business/gst-reforms-will-not-pose-major-fiscal-burden-on-government-report-639446.html New Delhi Sep 19 The recent Goods and Services Tax GST rationalisation will not have a significant fiscal burden on the government a Crisil report has said The government has estimated a net loss of an annualised Rs 48000 crore in revenue in the short term on account of GST reformsTotal GST collections in the previous fiscal were Rs 106 lakh crore hence the loss does not seem significant according to a Crisil Ratings reportCiting the method of recalibration of the tax rates the report emphasised that the move to reduce rates will unlikely to pose a major pressure on the government revenueAs of fiscal 2024 the majority 7075 per cent of GST revenue came from the 18 per cent slab Only 56 per cent was from the 12 per cent slab and 1315 per cent from the 28 per cent slab the report notedReducing the tax rates of items from 12 per cent may not render a significant revenue lossMeanwhile tax rates are unchanged on several fastgrowing services such as mobile tariff chargesNew services such as ecommerce delivery were also brought under GST and are taxed at 18 per cent and some increase in disposable incomes due to benefits on other mass consumption items could further drive up their demand and tax collections the report highlightedDifferentiated taxes between lower and highervalue items within a category can also help mitigate the fiscal impact the report highlightedFor instance the rate was hiked for highervalue items of clothing and twowheelers even as taxes on lowervalue items were loweredPremium demand from upperincome segments could remain intact supporting revenue the report statedAdditionally GST simplification from four to two slabs can bring more goods and services under the formal net which could gradually support tax buoyancy over the medium termWhile their impact on consumption depends on the speed and the extent to which the GST cuts are passed to consumer prices tax cuts on essentials can increase purchasing power creating a broader boost for consumption gradually the report notedAlongside there are other macro tailwinds for consumption this fiscal such as low inflation easing borrowing costs the governments incometax relief announced at the start of this year and healthy agricultureThe new GST rates will come into force on September 22 and play out over the second half of this fiscal IANS https://dailyworld.in/business/gst-reforms-will-not-pose-major-fiscal-burden-on-government-report-639446.html Fri, 19 Sep 2025 16:24:00 +0530 https://dailyworld.in/business/india-to-attract-50-70-billion-fresh-inflows-over-next-year-jefferies-639447.html New Delhi Sep 19 India is expected to see fresh inflows of 5070 billion into equities over the next 12 months driven by steady participation from mutual funds and systematic investment plans SIPs according to global brokerage Jefferies on Friday The firm said that despite foreign investor positioning being at multiyear lows India remains the strongest structural growth story in global marketsIn its latest Greed amp Fear report Jefferies described 2025 as a year of healthy consolidation for Indian equitiesThe brokerage expects that consistent domestic flows from mutual funds and systematic investment plans SIPs will absorb most of the expected foreign inflows helping the market sustain momentumThe report also highlighted that India could witness a fresh rally in 2026 as economic growth picks up paceIt pointed to recent government measures including industrywide cuts in Goods and Services Tax GST which are expected to boost consumption and liquidityIn addition the US Federal Reserves recent rate cut has increased the chances of the Reserve Bank of India easing rates again before the end of this yearThere is still a chance that the 1015 per cent return target proves to be too modest the report said citing the combined impact of GST cuts possible RBI rate easing and stronger corporate earningsThe brokerage further noted that Indias small and midcap universe despite higher valuations continues to show stronger earnings growth potential compared to largecap companies This it said justifies continued positioning in the segmentIndias small to midcap universe despite higher valuations continues to show higher earnings growth potential which justifies the positioning the note saidAccording to Jefferies Indias ability to combine strong domestic demand with improving corporate profitability and supportive policy actions makes it stand out as the most attractive growth story in global equities IANS https://dailyworld.in/business/india-to-attract-50-70-billion-fresh-inflows-over-next-year-jefferies-639447.html Fri, 19 Sep 2025 16:25:00 +0530 https://dailyworld.in/business/stock-market-snaps-three-day-rally-it-stocks-fall-adani-groups-shares-rise-639458.html Mumbai Sep 19 Indian equity indices snapped the threeday winning streak to end the session on a negative note on Friday Profit booking in IT and banking heavyweights dragged the market However a rally in Adani group stocks post the SEBIs clean chit on US shortseller Hindenburgs allegations restricted a sharp decline in the marketSensex ended the session at 8262623 down 38773 points or 047 per cent The index started the trade a bit lower at 8294604 against last sessions closing of 8301396 The index extended the downward trend further amid selling in IT and banking heavyweights It touched an intraday low at 8248592Nifty settled at 2532705 down 9655 or 038 per centAdani Total Gas Limiteds stock rose 755 per cent to close at Rs 65280 Adani Power shares surged 1342 per cent Adani Enterprises rose 525 per cent to Rs 2528 and Adani Ports and Special Economic Zone Limiteds stock rose 115 per cent to Rs 1429HCL Tech ICICI Bank Trent Titan Mahindra and Mahindra HDFC Bank Kotak Bank PowerGrid Ultratech Cement Hindustan Unilever Tata Motors and ITC were the top losers from the Sensex basket Adani Ports SBI NTPC Bharti Airtel Asian Paints Axis Bank and Maruti Suzuki settled in greenThe majority of sectoral indices ended the session lower amid subdued interest from investors Nifty Fin Services fell 171 points or 064 per cent Nifty Bank slipped 26860 points or 048 per cent Nifty Auto dragged 109 points or 040 per cent Nifty FMCG dipped 249 points or 044 per cent and Nifty IT ended the session 172 points or 047 per centThe broader market remained relatively firm amid some uptick in smallcap stocks Nifty Small Cap 100 rose 2760 or 015 per cent Nifty Midcap 100 jumped 21 points while Nifty 100 fell 56 points or 021 per centIndian rupee ended marginally higher at 8810 per dollar on Friday compared to the last days closing of 8813 IANS https://dailyworld.in/business/stock-market-snaps-three-day-rally-it-stocks-fall-adani-groups-shares-rise-639458.html Fri, 19 Sep 2025 17:06:00 +0530 https://dailyworld.in/business/net-direct-tax-revenue-jumps-92-pc-to-cross-rs-1082-lakh-crore-639463.html New Delhi Sep 19 Indias net direct tax collection recorded 918 per cent growth to cross Rs 1082 lakh crore till September 17 during the current financial year 202526 compared to the same period of the previous financial year as there was a sharp decline of 2387 per cent in refunds data released by the Central Board of Direct Taxes on Friday showed Of the total amount noncorporate tax revenue grew by 1367 per cent to Rs 583 lakh crore The tax is paid by a specific set of entities that are not registered as companies under the Companies ActNet corporate tax collections grew by 493 per cent to Rs 472 lakh crore while securities transactions tax STT increased marginally by 057 per cent to Rs 2630572 crore according to the official figuresGross direct tax collections increased by 339 per cent to Rs 1243 lakh crore while refunds dipped by 2387 per cent to Rs 160 lakh crore Corporate refunds the majority of total refunds grew by 1313 per cent to Rs 123 lakh crore while refunds issued to noncorporate taxpayers decreased by 6339 per cent to Rs 3730672 croreOf the total gross direct tax collected corporate tax was Rs 595 lakh crore noncorporate tax stood at Rs 620 lakh crore while STT was Rs 2630572 crore and other taxes stood at Rs 29713 croreMeanwhile Indias GST collections rose by 65 per cent to Rs 186 lakh in August according to government data released earlier this monthGST collections have been rising steadily to remain above the Rs 18 lakh crore mark for the eighth month in a row reflecting the growing economic activity in the countryThe gross domestic revenue grew 96 per cent to Rs 137 lakh crore while tax from imports dipped 12 per cent to Rs 49354 crore in August GST refunds were down 20 per cent yearonyear to Rs 19359 croreNet GST revenue stood at Rs 167 lakh crore in August 2025 recording a robust 107 per cent yearonyear growthBuoyant tax collections in recent months have helped to strengthen the countrys fiscal position and the macroeconomic fundamentals which help to ensure stable growthIndias fiscal deficit in AprilJuly was Rs 468 lakh crore or 299 per cent of the estimate for the financial year ending March 31 with next tax receipts for this period working out to Rs 66 lakh crore which shows that the country is in a strong fiscal position IANS https://dailyworld.in/business/net-direct-tax-revenue-jumps-92-pc-to-cross-rs-1082-lakh-crore-639463.html Fri, 19 Sep 2025 17:47:00 +0530 https://dailyworld.in/business/india-examining-implications-of-us-decision-to-impose-sanctions-on-chabahar-port-project-639471.html New Delhi Sep 19 India is examining the implications of the Trump administrations decision to revoke the US sanctions waiver linked to the Chabahar port project in Iran in which India is a partner We have seen the US press statement regarding the revocation of the sanctions waiver for Chabahar Port We are presently examining its implications for India MEA spokesperson Randhir Jaiswal told journalists at a media briefing on FridayThe United States has declared its intention to withdraw the sanctions exemption for activities at Irans Chabahar Port which was initially granted in 2018 According to a statement from the US Department of State this action will subject parties involved in port operations to potential penalties under the Iran Freedom and CounterProliferation Act IFCA The move is part of the Trump administrations move to crack down on Iran amidst the rising hostilities in the Middle EastThe US decision to revoke sanctions exemptions for the Chabahar Port which India is developing as a strategic connectivity project has come as a setback for New Delhi The development of the Chabahar port in Iran was aimed at building a route that would bypass Pakistan to reach out to Afghanistan and Central Asia for trade and humanitarian aid The port also serves as a crucial counter to Chinas influence being exercised in the region through the development of the Gwadar port in the Balochistan province of PakistanStarting September 29 entities operating the Chabahar Port and engaging in other related activities will face sanctions under the US IFCAIn 2018 America agreed to provide a sanctions waiver that allowed India to develop Chabahar given the key role it could play in the economic development of Afghanistan However there has been a change in the geopolitical situation after the fall of the USsupported Afghan government in 2021 and the Taliban coming to powerEarlier in May India and Iran formalised a decadelong contract concerning Chabahar Port operations Under this arrangement India committed to providing 250 million in credit facilities to support infrastructure development at the strategic port located on the Gulf of OmanIndia and Iran were planning to link the Chabahar port to the broader Iranian railway network through a 700 km rail line to the city of Zahedan The projects were expected to be completed by mid2026 IANS https://dailyworld.in/business/india-examining-implications-of-us-decision-to-impose-sanctions-on-chabahar-port-project-639471.html Fri, 19 Sep 2025 18:29:00 +0530 https://dailyworld.in/business/dsci-siemens-launch-ot-cyber-security-lab-to-strengthen-indias-critical-infrastructure-639472.html New Delhi Sep 19 Industry body Data Security Council of India DSCI and Siemens Limited inaugurated an Operational Technology OT Cyber Security Lab at the Nasscom campus in Noida on Friday The initiative aims to strengthen cybersecurity of national infrastructure and as serve as an innovation platform for startups providing access to technology equipmentIt will provide expertise necessary to develop and test their cybersecurity solutions in realworld OT scenarios in a safe and controlled environment an official statement saidThe lab is envisioned as hub for training awareness and skill development by providing handson exposure to professionals across critical sectors on OT cybersecurity practicesThis testbed is equipped to allow the latest tests including defenseindepth for OT environments the release saidIt also offers handson training and promotes collaboration among government academia and private sector stakeholdersKK Singh Joint Secretary Ministry of Electronics and IT inaugurated the facilityand said that securing OT environments is vital for national security He urged startups and researchers to utilise the lab to enhance defences for critical infrastructureVinayak Godse CEO DSCI announced that the lab will serve as an extension of the National Centre of Excellence a joint initiative between MeitY and DSCIThe lab will facilitate collaboration between government agencies academia industry and startups involved in critical infrastructure he addedSuprakash Chaudhuri Head of Digital Industries Siemens Limited stressed that rapid digitalisation led to the convergence of IT and OT exposing the systems to new vulnerabilitiesThe lab will help empower industries in India to build resilient and Cybersecure operations he addedIndias digital forensics market is projected to skyrocket at a compound annual growth rate CAGR of nearly 40 per cent to reach Rs 11829 crore 139 billion by FY 202930 more than triple the global average of 11 per cent IANS https://dailyworld.in/business/dsci-siemens-launch-ot-cyber-security-lab-to-strengthen-indias-critical-infrastructure-639472.html Fri, 19 Sep 2025 18:30:00 +0530 https://dailyworld.in/business/google-picks-20-indian-startups-for-ai-accelerator-programme-639478.html New Delhi Sep 19 US tech giant Google on Friday announced the latest cohort of its free threemonth AI accelerator programme a group of 20 startups selected from over 1600 applicants in the country The programme titled Google for Startups Accelerator AI First in India began this week and aims to scale AIdriven solutions across healthcare finance climate education and more The programme is designed for AI First startups between Seed to Series A based in India that are building core AI products applications or foundational models a release from the company saidThe support for founders includes Google Cloud infrastructure and access to cuttingedge Gemini models with technical mentorship and gotomarket strategiesAt Google we see startups as our cocreators in building the future of AI with scalable impactful and responsible AI solutions that will set new standards for the industry said Darren Mowry VP Global Startups Google CloudThe strategic focus of this cohort is aligned with the IndiaAI Mission said Abhishek Singh Additional Secretary MeitY and CEO IndiaAI MissionAmong the cohort are startups which offer a fullstack agentic platform where AI creates AI a healthtech startup offering a webcambased autism screening toolThe program pairs founders with Google engineers and industry mentors to tackle scaling challenges refine product roadmaps and ensure ethical AI deploymentThe new cohorts strategic focus directly aligns with the IndiaAI Missions startup pillar with 45 per cent of the program dedicated towards leveraging Agentic AI Multimodal AI solutions account for 30 per cent of the programme curriculum with the remaining 25 per cent dedicated to foundational models and Responsible AIIndias generative AI ecosystem has grown 37fold over the past year making it the worlds secondlargest GenAI startup hub the company said in the release IANS https://dailyworld.in/business/google-picks-20-indian-startups-for-ai-accelerator-programme-639478.html Fri, 19 Sep 2025 19:11:00 +0530 https://dailyworld.in/business/adani-shares-rally-as-investors-gain-rs-46-000-crore-in-a-single-day-639480.html Mumbai Sep 19 The shares of Adani Group companies staged a strong rally on Friday after market regulator the Securities and Exchange Board of India SEBI gave the conglomerate a clean chit in the Hindenburg case adding over Rs 46000 crore to investors wealth in a single day With this the groups combined market capitalisation jumped to Rs 138 lakh crore marking a major turnaround in sentiment nearly 33 months after the controversy first eruptedThe rally was led by Adani Power which surged 1342 per cent to close at Rs 71610 followed by Adani Total Gas which gained 755 per cent to end at Rs 65280Adani Enterprises Ltd advanced 525 per cent to Rs 2528 while Adani Green Energy climbed 548 per cent to Rs 103250Adani Ports and Special Economic Zone also followed suit and closed higher by 115 per cent at Rs 1429The surge came after SEBI dismissed Hindenburg Researchs allegations ruling that the transactions involving Milestone Tradelinks Rehvar Infrastructure and Adicorp Enterprises did not amount to violations of market regulationsThe regulator clarified that these deals did not fall under relatedparty transactions and complied with listing and disclosure normsReacting to the verdict Adani Group Chairman Gautam Adani said on social media platform X that SEBIs detailed probe had reaffirmed what the company had always maintained that Hindenburgs claims were baselessAfter an exhaustive investigation SEBI has reaffirmed what we have always maintained that the Hindenburg claims were baseless Gautam Adani wroteWe deeply feel the pain of the investors who lost money because of this fraudulent and motivated report Those who spread false narratives owe the nation an apology the billionaire industrialist addedHe emphasised that transparency and integrity had been the Groups core values and called for accountability from those who spread misinformationTransparency and integrity have always defined the Adani Group Gautam Adani statedOur commitment to Indias institutions to Indias people and to nation building remains unwavering Adani Group Chairman addedA Supreme Courtappointed expert panel had also earlier found no prima facie evidence of wrongdoing IANS https://dailyworld.in/business/adani-shares-rally-as-investors-gain-rs-46-000-crore-in-a-single-day-639480.html Fri, 19 Sep 2025 19:14:00 +0530 https://dailyworld.in/business/indias-forex-reserves-rise-by-469-bn-to-7029-bn-near-all-time-high-639482.html New Delhi Sep 19 Indias foreign exchange reserves rose by 469 billion to touch 7029 billion for the week ended September 12 according to data released by the Reserve Bank of India RBI on Friday With this increase the reserves are now less than only 2 billion away from their alltime high of 7049 billion recorded in late September 2024The latest RBI data showed that foreign currency assets which form the biggest part of the reserves climbed by 25 billion to 58704 billionThese assets include major global currencies such as the euro pound and yen and their dollar value also reflects changes in exchange ratesGold reserves gave a strong push this week rising by 21 billion to reach 9242 billionThe special drawing rights SDRs increased slightly by 32 million to 1873 billion while Indias reserve position with the International Monetary Fund IMF moved up by 9 million to 476 billionForex reserves act as a financial safety net for the country helping the RBI intervene in the currency market when needed to control volatility in the rupeeThe central bank maintains that such interventions are not meant to fix the exchange rate at a certain level but to ensure stability in times of global uncertaintyReserves have been rising steadily in recent weeks They had already crossed the 698 billion mark in the week ended September 5 following a 403 billion jump after increasing by 351 billion in the previous weekIn the previous week also the Central Banks data showed that foreign currency assets FCAs the largest part of the reserves went up by 540 million to 58447 billionAnalysts say the strong buffer close to record highs will help India cushion external shocks support the rupee and provide confidence to global investors especially amid uncertain global economic conditions IANS https://dailyworld.in/business/indias-forex-reserves-rise-by-469-bn-to-7029-bn-near-all-time-high-639482.html Fri, 19 Sep 2025 19:16:00 +0530 https://dailyworld.in/business/hindustan-copper-ltd-oil-india-join-hands-to-explore-critical-and-strategic-minerals-639484.html New Delhi Sep 19 In a significant development Oil India Limited and Hindustan Copper Limited HCL on Friday signed a memorandum of understanding MoU to cooperate and collaborate for exploration and development of critical and strategic minerals including Copper and associated minerals The move is aimed at strengthening Indias selfreliance in critical and strategic mineral sourcingHindustan Copper Limited a Miniratna PSU under the Ministry of Mines is engaged in mining production processing and marketing of copper and related products The company is currently focused on mining and beneficiation of copper ore and the sale of copper concentrateOil India a Maharatna PSU under the Ministry of Petroleum and Natural Gas is a premier integrated oil and gas company with proven expertise in exploration development production and transportation of crude oil and natural gas Recognizing the growing importance of critical minerals OIL has diversified into this sector to complement its core energy portfolioThe MoU was signed and exchanged in the presence of Sanjiv Kumar Singh Chairman and Managing Director of HCL and Dr Ranjit Rath Chairman and Managing Director of Oil India and senior officials of both the companiesThe collaboration between HCL and OIL represents a crucial milestone in Indias pursuit of mineral security Aligned with the objectives of the government of Indias National Critical Mineral Mission this partnership will play a pivotal role in securing strategic mineral resources essential for the nations energy security industrial growth and technological advancement said Ministry of Mines in a statementEarlier this month the Union Cabinet approved a Rs 1500 crore incentive scheme under the National Critical Mineral Mission NCMM to boost Indias recycling capacity for critical minerals from secondary sources such as ewaste lithiumion battery scrap and endoflife vehicle partsBy fostering both new and existing recyclers the initiative aims to build 270 kilo tonnes annual recycling capacity produce 40 kilo tonnes of critical minerals attract around Rs 8000 crore in investments and generate nearly 70000 jobs a strategic step to strengthen supply chain resilience and reduce import dependency according to the governmentCritical minerals are fast becoming the oil of the 21st century scarce strategic and fiercely contested They are the building blocks of a modern economy IANS https://dailyworld.in/business/hindustan-copper-ltd-oil-india-join-hands-to-explore-critical-and-strategic-minerals-639484.html Fri, 19 Sep 2025 19:21:00 +0530 https://dailyworld.in/business/third-round-of-india-new-zealand-fta-concludes-successfully-centre-639486.html New Delhi Sep 19 The government on Friday said that the third round of negotiations for the IndiaNew Zealand Free Trade Agreement FTA has concluded successfully in Queenstown The discussions reaffirmed the shared commitment of both nations to strengthen economic ties and work towards the early conclusion of a balanced and mutually beneficial agreement according to a statement by the Ministry of Commerce and IndustryThe third round held from September 1519 witnessed constructive discussions across all areas of the agreement Several chapters were concluded and significant progress was achieved in other key domainsGuided by the vision of Prime Minister Narendra Modi and his New Zealand counterpart Christopher Luxon the negotiations reflected a common resolve to deepen bilateral trade investment and economic cooperationThe FTA was formally launched on March 16 during the meeting between Union Commerce Minister Piyush Goyal and New Zealands Minister for Trade and Investment Todd McClayIndias bilateral merchandise trade with New Zealand stood at 13 billion in FY202425 registering a growth of nearly 49 per cent over the previous yearThe proposed FTA is expected to further boost trade flows promote investment linkages strengthen supply chain resilience and create a predictable framework for businesses in both countriesBoth sides agreed to maintain momentum through intersessional engagementsThe next round of inperson negotiations is scheduled to be held in New Delhi on October 1314According to Goyal Indias exports have recorded a 6 per cent growth in the first five months of the current financial year and exuded confidence that the year would end on a positive noteAs far as exports are concerned I have consistently said that Indias exports are growing every year and this year too I expect exports to grow Currently we are seeing a growth of about six per cent compared to the corresponding five months of last year I am very confident that we will end the year on a positive note the minister saidAt the same time trade talks are ongoing with the United States the European Union New Zealand Chile Peru Oman and several other countries he added IANS https://dailyworld.in/business/third-round-of-india-new-zealand-fta-concludes-successfully-centre-639486.html Fri, 19 Sep 2025 20:08:00 +0530 https://dailyworld.in/business/telangana-cm-invites-british-companies-to-participate-in-musi-project-639234.html Hyderabad Sep 18 Telangana Chief Minister A Revanth Reddy has invited British companies to participate in the Musi Riverfront Development Project He also invited British investments in Global Capability Centres GCCs the pharmaceutical knowledge and academic sectorsBritish High Commissioner Lindy Cameron on Thursday met Chief Minister Revanth Reddy at his residence in Jubilee Hills hereDuring the meeting the British High Commissioner conveyed that the UK Government has agreed to extend the prestigious Chevening Scholarship to meritorious students from Telangana on a cofunding basis She also expressed readiness to enhance cooperation in the fields of education and technologyLindy Cameron expressed willingness to support the training of government teachers and professors in TelanganaThe Chief Minister requested facilitation for UK universities to operate from Hyderabad to benefit Telangana students pursuing higher education in the United Kingdom He also presented the draft of the new Education Policy of Telangana highlighting key reforms and opportunities for collaborationAccording to the Chief Ministers Office CMO the British High Commissioner responded positively to all the proposals and assured cooperation in strengthening bilateral relations between Telangana and the United KingdomRevival of the Musi River which flows through Hyderabad is an ambitious project and the brainchild of CM Revanth ReddyDuring his visit to London early last year the Chief Minister detailed discussions with experts who helped revive the River ThamesHe had discussions with officials and experts from the principal governing body of the River Thames the Port of London AuthorityThe Chief Minister believes that the Musi Riverfront Development Project will transform the face of Hyderabad and foster developmentAccording to him there is no other state capital in the country blessed with a river flowing through the middle of the town The 300kmlong Musi has a long and special historyIn October last year he announced that a consortium of five companies had been selected to prepare a project report for the Musi project The consortium will prepare plans for the revival of Musi project cost estimations and mobilisation of funds from different agencies IANS https://dailyworld.in/business/telangana-cm-invites-british-companies-to-participate-in-musi-project-639234.html Thu, 18 Sep 2025 16:10:00 +0530 https://dailyworld.in/business/maruti-suzuki-reduces-car-prices-up-to-rs-129-lakh-post-gst-reforms-639241.html New Delhi Sep 18 Passing on the full benefit from the recent decrease in the GST rates on cars to customers Maruti Suzuki announced a significant reduction in car prices across its portfolio on Thursday The largest reduction will be seen in entrylevel models with the Alto K10 and SPresso going down by up to Rs 107 lakh and Rs 129 lakh respectivelyOther hatchbacks such as the Celerio WagonR and Ignis will also see significant savings of between Rs 71300 and Rs 129 lakhAdditionally prices of small SUVs will also go downThe automaker reduced the prices of wellknown models like the Brezza and Fronx by more than Rs 1 lakh improving its standing in the fiercely competitive SUV marketThe timing of Maruti Suzukis price cuts is critical for the Indian auto industry which has witnessed a fourmonth decline in passenger vehicle sales as automakers controlled dealer dispatches before the announcement of the updated goods and services tax GST ratesAccording to several reports steep discounts due to GST reforms will boost demand especially in the compact and entrylevel segments that serve firsttime purchasers and city commutersEarlier the GST Council approved the 5 and 18 per cent tax structure scrapping the earlier four slab 512181nd 28 per cent This reform eliminates the previous compensation cess and streamlines the tax structure by primarily setting GST rates at 18 per cent for small cars and 40 per cent for larger or luxury vehicles EVs continue to be taxed at a favourable 5 per cent GST rateSmall massmarket cars including petrol vehicles with engines up to 1200cc and diesel vehicles up to 1500cc both under 4 meters in length receive the most significant tax cutMajor Automobile companies including Mahindra and Mahindra Tata Motors Hyundai Toyota Kia Renault and other automakers have already announced price cuts across the models passing on full benefits to the end consumers IANS https://dailyworld.in/business/maruti-suzuki-reduces-car-prices-up-to-rs-129-lakh-post-gst-reforms-639241.html Thu, 18 Sep 2025 16:42:00 +0530 https://dailyworld.in/business/climate-change-may-up-health-risks-exceed-15-trn-productivity-loss-by-2050-report-639244.html Geneva Sep 18 The rise in global temperatures is likely to cause severe health risks and result in the loss of more than 15 trillion in productivity according to a new report from the World Economic Forum on Thursday The loss will be borne mainly by sectors such as food and agriculture the built environment health and healthcareThe report published ahead of the World Economic Forums Sustainable Development Impact Meetings 2025 arrived as preparations intensify for COP30 in Belém BrazilThe findings highlight that adapting to extreme heat infectious diseases and other health risks accelerating due to climate change is now a strategic business imperativeWe are entering an era in which protecting worker health is proving essential to business continuity and longterm resilience said Eric White Head of Climate Resilience World Economic ForumEvery year we delay embedding resilience into business decisions the risks to human health and productivity climb and the costs of adaptation rise White addedSharing sectorspecific vulnerabilities the report showed that in food and agriculture climate health impacts could lead to 740 billion in lost output triggering serious consequences for global food securityIn the built environment sector climate health impacts are projected to result in productivity losses of 570 billionFurther the health and healthcare sector stands to lose 200 billion in productivity due to workforce climate health illness while rising climatedriven disease rates among the wider population could compound demand pressuresThe insurance industry meanwhile is projected to experience a sharp rise in climate health claimsThe report developed in collaboration with Boston Consulting Group BCG urged companies to act now to protect workforce health build operational resilience and safeguard productivity before the costs of climate adaptation become unmanageableIt showed that investing early in climate health adaptation can benefit beyond risk mitigation unlocking new opportunities for innovation and growth while meeting emerging market needsThis includes developing climateresilient crops that protect food systems heatstable medications that expand medicine availability cooling technologies that keep construction workers safe and new insurance models protecting communities against climate health shocks the report said IANS https://dailyworld.in/business/climate-change-may-up-health-risks-exceed-15-trn-productivity-loss-by-2050-report-639244.html Thu, 18 Sep 2025 16:44:00 +0530 https://dailyworld.in/business/govt-focusing-on-raising-share-of-natural-gas-in-indias-energy-mix-639246.html New Delhi Sep 18 The government plans to accelerate the use of piped natural gas PNG complementing renewables through gasbased power and scaling opportunities in CBG hydrogen and LNG mobility Addressing the ASSOCHAM India Gas Infrastructure Conference Petroleum and Natural Gas Regulatory Board PNGRB Secretary Anjan Kumar Mishra said With industry collaboration and policy support we can raise the share of natural gas in Indias energy mix well beyond 15 per cent and make clean affordable energy a reality for every householdLauding the sectors achievements in promoting the ease of doing business including efforts to transition households from LPG to PNG he noted the progress made in laying the groundwork in rural areas and stressed the importance of scaling access and boosting power generation through natural gas A collective commitment is required to build a resilient futureready gas infrastructure aligned with Indias vision for sustainable growth and carbon neutrality he addedMishra said that over the past few years the government has laid the foundation authorising more than 300 geographical areas advancing rural access and fostering ease of doing businessASSOCHAM Task Force on Hydrocarbons CoChairman amp Pipeline Infrastructure Limited MD Akhil Mehrotra emphasised the need for a faster rollout of city gas networks supported by a robust gas to power strategy He called for greater integration of renewables expanded energy storage solutions and a strong mobility ecosystem to drive adoptionIndraprastha Gas Ltds Director Commercial Mohit Bhatia emphasised that the nations vision to achieve a 15 per cent share of natural gas in the energy mix by 2030 is not merely an aspirational figure but a collective mission anchored in actionHighlighting the transformative role of the City Gas Distribution CGD sector he underlined how every new pipeline CNG station and household connection brings the country closer to cleaner air healthier communities and globally competitive industriesBhatia reflected on the growing strength of the global LNG landscape where India has already emerged as the fourthlargest importer and outlined how expanded regasification capacity innovative solutions like SSLNG hubs and transparent gas exchanges will shape the future Stressing natural gas as the bridge fuel for decarbonization he spoke of its pivotal role in reducing industrial emissions modernising logistics and balancing renewable power IANS https://dailyworld.in/business/govt-focusing-on-raising-share-of-natural-gas-in-indias-energy-mix-639246.html Thu, 18 Sep 2025 16:45:00 +0530 https://dailyworld.in/business/blue-energy-motors-raises-50-mn-funding-to-accelerate-green-trucking-in-india-639247.html Mumbai Sep 18 Blue Energy Motors BEM Indias leading manufacturer of LNG and Electric heavyduty trucks has secured fresh funding bringing its total capital raised to 50 million The companys vision for green mobility is backed by Essar and FPT Iveco Group serving as both a strategic investor and technology partnerIn the latest funding round Blue Energy Motors raised an additional 30 million from Nikhil Kamath and Omnitex IndustriesBEM currently has a manufacturing capacity of 10000 trucks per year The fresh funding will be instrumental in fully unlocking this capacity accelerating production expanding the development of liquefied natural gas LNG and electric vehicle EV heavyduty trucks and scaling the companys green mobility footprint across IndiaThe company is at the forefront of decarbonising Indias transportation sector which contributes nearly 15 per cent of the countrys total carbon emissions As Indias largest manufacturer of LNG trucks the company has sold around 1000 vehicles that are running successfully with leading Fortune 500 companies These trucks have collectively travelled more than 60 million km reducing carbon emissions by over 15000 tonnes CO2 to dateCommenting on the fund raise Anirudh Bhuwalka Founder amp Managing Director of Blue Energy Motors said The fresh fund raise empowers Blue Energy Motors to accelerate Indias shift to clean sustainable freight transportation By harnessing both LNG and electric truck technologies we are set to lead Indias transformation toward sustainable zeroemission freight Our commitment to delivering scalable commercially viable solutions positions us at the forefront of the green mobility revolution and sets the stage for longterm value creation for our investorsNikhil Kamath Investor and Entrepreneur said The future of logistics in India will be built on clean scalable technology The real opportunity lies in solutions that dont just chase disruption but deliver it quietly efficiently and at scale Blue Energy has done that wellAnshuman Ruia Director Essar added As investors in Blue Energy Motors Essar remains deeply committed to accelerating Indias transition to green mobility Our continued investment underscores our confidence in Blue Energy Motors and the companys innovative approach to decarbonizing heavyduty transportation This aligns perfectly with Essars broader vision of championing sustainable business solutions across sectorsAs India moves toward a cleaner and more energyefficient future Blue Energy Motors is wellpositioned to lead the transition in the freight transportation sector IANS https://dailyworld.in/business/blue-energy-motors-raises-50-mn-funding-to-accelerate-green-trucking-in-india-639247.html Thu, 18 Sep 2025 16:46:00 +0530 https://dailyworld.in/business/stock-market-rises-for-3rd-consecutive-day-on-us-fed-rate-cut-buying-in-it-sector-639255.html Mumbai Sep 18 The Indian equity indices extended the gaining momentum for the third consecutive session on Thursday amid buying in IT stocks after the US Fed announced a rate cutSensex closed at 8301396 up 32025 points or 039 per cent The 30share index opened with a decent gapup at 8310892 against the last sessions closing of 8269371 after the US Fed announced a rate cut However the index remained rangebound throughout the session amid a mixed approach across sectors except IT Nifty ended the session at 2542360 up 9335 points or 037 per centGlobal equities traded in the green after the US Federal Reserve cut rates by 25 bps to 4425 per cent and signalled two more reductions this year to cushion rising job market risks Mirroring the upbeat global sentiment Indian markets opened with a positive gapup and maintained a sideways trajectory through the first half of the session Ashika Institutional Equities said in a note Eternal Sun Pharma Infosys HDFC Bank PowerGrid HCL Tech ITC Hindustan Unilever Tata Steel Axis Bank and Bajaj FinServ settled high amid the Sensex stocks Bajaj Finance Tata Motors Trent Ultratech Cement and Asian Paints ended the session in negative territoryThe majority of sectoral indices remained in green amid value buying Nifty Fin Services jumped 135 points or 051 per cent Nifty Bank rose 234 points or 042 per cent Nifty Auto moved up 34 points or 013 per cent Nifty FMCG jumped up 201 points or 036 per cent and Nifty IT surged 303 points or 083 per cent Broader indices continued their bullish run amid buying in midcap and smallcap stocks Nifty Small Cap 100 jumped 53 points or 029 per cent Nifty Midcap 100 increased 224 points or 038 per cent and Nifty 100 ended the session 91 points or 035 per cent highRupee closed weaker by 026 at 8809 despite the dollar index staying soft postFed policy where a rate cut was announced but forward guidance remained mixed as the roadmap for further cuts was unclear and datadependent on jobs said Jateen Trivedi of LKP SecuritiesnbspThe rupee failed to gain as FII sentiment remained cautious while ongoing IndiaUS trade talks will be the next key trigger Support for the rupee lies near 8775 while resistance is seen at 8825 he added IANS https://dailyworld.in/business/stock-market-rises-for-3rd-consecutive-day-on-us-fed-rate-cut-buying-in-it-sector-639255.html Thu, 18 Sep 2025 17:19:00 +0530 https://dailyworld.in/business/global-confidence-in-india-is-rising-amid-next-gen-reforms-ashwini-vaishnaw-639258.html New Delhi Sep 18 IANS Global confidence in India is rising and nextgeneration reforms such as the recent GST restructuring and the rapid expansion of Indias digital infrastructure are enabling stronger domestic and international partnerships essential for achieving the vision of a developed India by 2047 Union Electronics and IT Minister Ashwini Vaishnaw said on ThursdaynbspAddressing the Public Affairs Forum of India PAFI event here the minister underscored Indias growing role and aspirations in the evolving multipolar world ordernbspIndias growth story is not just consistent it is accelerating with greater confidence We are moving from a 95 per cent to a 98 per cent confidence interval on growth with inflation under control and a nominal growth trajectory of 913 per cent Vaishnaw told the gatheringIndias achievements in semiconductors from producing Made in India chips to designing worldclass 2 nanometre technology demonstrate global confidence in our capabilities he mentionednbspSimultaneously reforms in income tax and GST coupled with strong capex and talent development are driving a virtuous cycle of consumption investment and employmentnbspThese foundations ensure that Indias growth story is both resilient and transformative the minister notednbspVaishnaw further highlighted Indias continued rise as a trusted global partner attributing this momentum to sweeping policy reforms in deregulation digitisation and investment facilitationHe mentioned that two more semiconductor plants will soon start operating further solidifying Indias position in the global chip manufacturing ecosystem including the production of machines and materials for chipsnbspThis comprehensive approach he stated is a complete product endtoend validation of Indias capabilities attracting global confidencenbspHe also highlighted the ambitious Telecom 100 labs initiative and the expansion of the semiconductor talent development program mentioning the 28 studentdesigned chips presented to Prime Minister Narendra Modi recentlyAddressing the critical role of infrastructure Vaishnaw who is also the Railways Minister further detailed the three major areas of capital expenditure in railwaysnbspHe highlighted a significant improvement in safety wherein accidents reduced from 170 to 31 per year backed by an annual investment of Rs 34000 crorenbspThe minister showcased the new generation of railway rolling stock including AMRIT Bharat trains for lowincome families costing just Rs 400 and the progress on the bullet train project with 300 km of viaduct completed and operations on track for 2027He also spoke about Indias prospects and innovation in emerging sectors such as artificial intelligence AI clean energy and digital public infrastructure The session concluded with the unveiling of PAFIs first book titled The Policy Pivot Inside Indias Strategic Shift an anthology featuring 25 essays by public policy and public affairs experts https://dailyworld.in/business/global-confidence-in-india-is-rising-amid-next-gen-reforms-ashwini-vaishnaw-639258.html Thu, 18 Sep 2025 17:41:00 +0530 https://dailyworld.in/business/moil-dispatches-its-1st-shipment-of-54-600-tonnes-manganese-ore-to-indonesia-639260.html New Delhi Sep 18 Indias largest manganese ore producer MOIL on Thursday said it has marked a significant milestone in exports from India with the dispatch of its first shipment of 54600 tonnes of manganese ore fines from Visakhapatnam to Indonesia as a state trading enterprise STE The government has appointed MOIL as a STE for export of Manganese Mn ore below 46 per cent Mn grade from IndiaAccording to Steel Ministry MOIL had put in place a mechanism in FY20242025 for export of Mn ore as per the Trade Policy through which any exports of Mn ore from India are required to be routed through MOILThe first consignment of the offered 54600 tonnes Mn ore from Vizag was shipped on August 22 2025 to Indonesia by MOIL Material is exported to foreign buyers by MOIL with a backtoback arrangement with the domestic suppliers said the ministry in a statementExport of lowgrade manganese ore Mn 25 per cent from the country assumes major significance as India has surplus Mn ore of lowgrade fines in excess of domestic demand and hence export of lowgrade ore enhances Indias global footprint and boosts foreign earningAjit Kumar Saxena CMD congratulated the MOIL team for its firstever export consignment of manganese ore as a State Trading Enterprise and emphasised on efficient operations and wellinformed strategies to facilitate international tradeMOIL recorded its highestever August production of 145 lakh tonnes during the month registering an impressive 17 per cent growth over the same month last yearOn the sales front the company also delivered strongly with 113 lakh tonnes of sales in August reflecting a remarkable 256 per cent growth yearonyear compared to the same month of the previous yearFurther during AprilAugust 2025 MOIL recorded its bestever performance with 792 lakh tonnes of production which represents a 93 per cent yearonyear increaseThe governmentowned company which supplies manganese ore as an input for making steel also achieved its bestever exploratory core drilling of 50621 metres during AprilAugust of the current financial year which represents an 86 per cent increase over the same period of the previous year IANS https://dailyworld.in/business/moil-dispatches-its-1st-shipment-of-54-600-tonnes-manganese-ore-to-indonesia-639260.html Thu, 18 Sep 2025 17:55:00 +0530 https://dailyworld.in/business/millionaire-indian-households-jump-90-pc-to-87-lakh-mumbai-leads-report-639265.html New Delhi Sep 18 Indias millionaire households with net worth over Rs 85 crore surged 90 per cent in number to 871 lakh in 2025 up from 458 lakh in 2021 a report said on Thursday Mumbai is the countrys millionaire capital with 142 lakh wealthy households followed by Delhi with 68200 and Bengaluru with 31600 said a report jointly authored by MercedesBenz and Hurun India Maharashtra leads states with 178 lakh millionaire families backed by a 55 per cent jump in Gross State Domestic Product GSDPThe MBHX a composite measure of MercedesBenz sales new billionaire entrants Sensex performance and GDP has surged nearly 200 per cent signalling resilient wealth creation despite global uncertainties the report notedThe survey revealed that millionaire Indians prefer digital payments with 35 per cent using UPI apps and view stocks real estate and gold as their main investment optionsA recent survey showed that Indias highnetworth HNW families can help the country become a 5 trillion economy by utilising their capital for social impact using impact investing and blended financing techniquesMany HNW families continue to operate in silos and exhibit low retention in impact investing the report from wealth advisory firm Waterfield Advisors and NPO organisation Impact Investors Council IIC saidOf the 316 HNW families who entered impact investing in 2021 just 64 remain active in 2024 the report said Recent surveys showed that the top 1 per cent of Indias wealthiest citizens have parked 60 per cent of their money in real estate and goldThis segment holds 116 trillion in total wealth and 70 per cent of Indias financial assets the report said Indias total household wealth is estimated at 196 trillion out of which 116 trillion or 59 per cent is held by this wealthy segment of the populationThe countrys economy continued its strong momentum in the first quarter of 202526 Q1 FY26 with GDP growing 78 per cent compared to 65 per cent in the same period last year IANS https://dailyworld.in/business/millionaire-indian-households-jump-90-pc-to-87-lakh-mumbai-leads-report-639265.html Thu, 18 Sep 2025 17:57:00 +0530 https://dailyworld.in/business/smartphone-exports-see-55-pc-jump-over-330-million-devices-a-year-being-manufactured-in-india-639268.html New Delhi Sep 18 Smartphone exports surpassed Rs 1 lakh crore in just the first five months of FY 202526 a 55 per cent jump over the same period last year and over 330 million mobile phones a year are being manufactured in India and on average there are about a billion mobile phones in use an official statement said on Thursday In Q2 2025 India overtook China to become the top smartphone exporter to the United States The overall picture is also bright for instance Indias mobile phone manufacturing sector has generated over 12 lakh jobs over the past decade uplifting families and strengthening Indias socioeconomic fabric according to the official statementIndias smartphone market is evolving rapidly with consumer preferences increasingly leaning toward 5G adoption and premium features According to market research 5G smartphone shipments surged to 82 per cent of total shipments last year reflecting a remarkable 49 per cent YoY growth Midrange devices priced between Rs 10000Rs 13000 continue to see strong demand expanding the base for highperformance yet affordable smartphonesAt the same time the premium segment above Rs 25000 witnessed robust growth posting a 26 per cent YoY increase as consumers embrace highperformance devices as lifestyle statements This dynamic demonstrates Indias market adaptability with growth spanning across premium midrange and value segments catering to a diverse and increasingly techsavvy consumer baseAccording to Union Minister Ashwini Vaishnaw Indias journey in electronics manufacturing has evolved through distinct phases beginning with finished goods progressing to subassemblies and now entering the critical phase of deep component manufacturing The sector is steadily advancing into this third phase which marks a significant leap in value addition selfreliance and ecosystem depth Total production of electronics has increased from Rs 19 lakh crore in 201415 to Rs 113 lakh crore in 202425Mobiles have been the crowning accomplishment of the electronics manufacturing sector boom Production of mobile phones has soared from Rs 18000 crore in 201415 to Rs 545 lakh crore in 202425 a 28fold riseIndia is the secondlargest mobile phone manufacturer globally with over 300 manufacturing facilities Tamil Nadu has over 47 manufacturing units of electronics supported under various schemes of the Ministry of Electronics and Information Technology MeitY as per the official statement IANS https://dailyworld.in/business/smartphone-exports-see-55-pc-jump-over-330-million-devices-a-year-being-manufactured-in-india-639268.html Thu, 18 Sep 2025 18:00:00 +0530 https://dailyworld.in/business/epfo-rolls-out-passbook-lite-for-easy-access-to-all-pf-details-via-single-login-639270.html New Delhi Sep 18 Union Minister for Labour and Employment Dr Mansukh Mandaviya announced on Thursday that EPFO has introduced a new facility called Passbook Lite which will enable members to easily check their passbook and related summarised view of their contributions withdrawals and balance in a simple and convenient format through the member portal itself without having to go to the passbook portal The new Passbook Lite facility has been introduced within the EPFOs member portal as part of the reforms that have been undertaken to ensure provision of efficient transparent and userfriendly services to membersThis initiative is expected to improve user experience by providing all key services including passbook access through one login However for a comprehensive view of passbook details including graphical display members can continue to access the existing Passbook Portal as wellThis approach ensures greater ease of access for members while simultaneously enhancing the operational efficiency by reducing the load on the existing Passbook Portal and simplifying the architecture through integration of existing APIs within the member portal The focus of this reform is on providing all key services through a single login for greater ease of access The initiative is expected to reduce grievances improve transparency and enhance member satisfactionAt present when employees change jobs their PF accounts are transferred to the new employers PF office through Form 13 online After transfer a Transfer Certificate Annexure K is generated by the previous PF office and sent to the new PF office Until now Annexure K was only shared between PF offices and was made available to members only on their requestA reform has been introduced that now enables members to directly download Annexure K in PDF format from the Member Portal itself This will enable members to track status of transfer applications online ensuring full transparency and allowing members to easily verify their PF transfers It will enable them to confirm that the PF balance and service period are correctly updated in the new account promoting ease of living transparency and trust in EPFO processes according to the governmentThe is facility will also allow members to maintain a permanent digital record for future reference which is especially important for calculating EPS benefitsAt present any EPFO services such as PF transfers settlements advances and refunds require approvals from higherlevel officers RPFCOfficerinCharge This multilayered approval process often led to delays and longer processing times for members claimsThe scope of this reform will include PF transfers and settlements advances and past accumulations refunds chequeECSNEFT returns and interest adjustmentsThis will hold several benefits for users including faster claim settlements and reduced processing time simplified approval layers for smoother service delivery improved accountability at field office level and enhanced transparency and member satisfaction through quicker seamless services IANS https://dailyworld.in/business/epfo-rolls-out-passbook-lite-for-easy-access-to-all-pf-details-via-single-login-639270.html Thu, 18 Sep 2025 18:02:00 +0530 https://dailyworld.in/business/gst-reforms-to-reduce-counterfeit-goods-trade-ficci-cascade-chairman-639274.html New Delhi Sep 18 The GST reforms will lead to a reduction in the trade of counterfeit goods in the country FICCI CASCADE Chairman Anil Rajput said on Thursday Speaking to IANS at an event in the national capital Rajput said FICCI CASCADE organises its annual flagship conference MASCRADE every year which is a movement against smuggling and counterfeiting activitiesHe further said that smuggling and counterfeit goods trade harm the economy and we need to sensitise everyone involved be it policymakers industry or consumersWhen asked about GST 20 Rajput said that it is a transformative reformOne of the reasons for the trade of counterfeit goods is high taxes Therefore the government has reduced the taxes with the GST reform This will help us reduce the trade of counterfeit goods in several sectors Rajput notedThe GST 20 reforms will reduce household tax burdens support MSMEs and combat illicit tradeAccording to a report by FICCI CASCADE and Thought Arbitrage Research Institute TARI the number of items taxed at 5 per cent rose from 54 categories under GST 10 to 149 reducing the effective GST incidence for rural families from 603 per cent to 427 per cent and for urban households from 638 per cent to 438 per centFor businesses especially MSMEs GST 20 introduces rationalised rates that address distortions caused by the inverted duty structure Sectors critical for rural employment and manufacturingsuch as tractors farm machinery fertilizers textiles handicrafts auto components and construction inputsare now subject to lower more rational rates the report saidThis change unlocks blocked input tax credits freeing up working capital and enhancing competitiveness Digitalfirst compliance measures including riskbased assessments automated realtime refunds and quicker dispute resolution through the newly established GST Appellate Tribunal GSTAT will aid formalisation of the economyThe report said that moderating the standard slab to 18 per cent and shifting essentials to the 5 per cent bracket reduces price gaps that encourage smuggling and counterfeiting thereby aiding in the formalisation of the economyShortterm revenue losses are anticipated but the doubling of indirect tax collections and growth in taxpayers under GST 10 indicate potential longterm fiscal benefits it notedNoting that the 40 per cent slab for demerit goods particularly tobacco risks perpetuating illicit markets FICCI CASCADE urged that a balanced approach to demerit taxation is essential to disincentivise smuggling IANS https://dailyworld.in/business/gst-reforms-to-reduce-counterfeit-goods-trade-ficci-cascade-chairman-639274.html Thu, 18 Sep 2025 18:38:00 +0530 https://dailyworld.in/business/sebi-clears-adani-group-and-its-entities-of-all-allegations-in-hindenburg-case-639294.html Mumbai Sep 18 Capital markets regulator SEBI on Thursday cleared the Adani Group and its associated entities of all allegations in the Hindenburg case The SEBI order states that the matter has been considered holistically and the allegations made against the Adani Group are not establishedConsidering the above the question of devolvement of any liability on Noticees Adani Group and associated companies does not arise and hence the question of determination of quantum of penalty also does not require any deliberation the order further statesThe proceedings were disposed of without directionsThe alleged transactions were deemed genuine business dealings and not fraudulent or violative of RPT disclosure norms given the legal framework applicable during the investigation period RPT disclosures under the SEBI refer to the mandatory transparency requirements for related party transactions entered into by listed companies to prevent conflicts of interest and ensure fair dealingsThe order also states that there was no violation of Listing Obligations and Disclosure Requirements LODR The SEBIs LODR norms mandate companies to disclose detailed information about these transactions to their audit committees and shareholders including valuation reports for material transactions and have a defined process for obtaining independent approvalsThe SEBI rejected the contention that the Adani Group had engaged in a scheme to conceal related party transactions pointing out that the widened definition covering indirect transactions was only introduced prospectively via the 2021 amendment to the LODR rules Applying it retrospectively the regulator said would be legally impermissibleThe SEBI probe also found that alleged loans and fund movements were fully repaid and did not qualify as undisclosed related party transactions or fraudulent market practicesIn January 2023 Hindenburg Research published a report accusing the Adani Group of accounting irregularities stock manipulation and hiding relatedparty transactions through layers of shell companiesThe report triggered a sharp selloff in Adani stocks erasing over 100 billion in the Groups market value following which the Supreme Court directed the SEBI to investigate the matterInterestingly USbased Hindenburg Research later came under a cloud due to its controversial shortselling practices and shut down its operations amid widespread criticism in the Western press IANS https://dailyworld.in/business/sebi-clears-adani-group-and-its-entities-of-all-allegations-in-hindenburg-case-639294.html Thu, 18 Sep 2025 21:11:00 +0530 https://dailyworld.in/business/kerala-eu-blue-economy-conclave-opens-with-delegates-hailing-states-coastal-heritage-639299.html Thiruvananthapuram Sep 18 The twoday KeralaEU Blue Economy Conclave titled Blue Tides Two Shores One Vision opened here with ambassadors and delegates from European Union EU nations lauding Keralas vibrant coastal traditions and sustainable fishing practices Organised by the state Department of Fisheries in partnership with the Central government and the European Union the conclave seeks to strengthen collaborations for sustainable oceanbased growthAhead of the formal sessions EU envoys and diplomats embarked on a field trip to experience Keralas marine and cultural landscapeLed by the Ambassador of the European Union to India Herve Delphin the delegation began its visit at Hawa Beach in Kovalam where they interacted with local fishermenMany delegates expressed admiration for the communitys resilience and even joined in hauling nets to witness the strenuous efforts behind the earlymorning catchThe team later visited the Adani Vizhinjam International Seaport where AVPPL CEO Pradeep Jayaraman and Managing Director Divya S Iyer presented an overview of the ports operationsDelegates toured the facility noting its strategic location and modern infrastructureThe group also stopped at the Kerala Arts and Crafts Village in Vellar where they commended the craftsmanship showcased through traditional curios and handicraftsThe EU contingent comprised senior diplomats including Robert Maxian Slovakia Juan Antonio March Pujol Spain Antonio Enrico Bartoli Italy Reuben Gauci Malta Rasmus Abildgaard Kristensen Denmark Dr Piotr Switalski Poland Yankov Bulgaria Kimmo Lahdevirta Finland Sena Latif Romania Simon H Preker Germany and Irma Sincovek SloveniaThe formal inauguration of the conclave will be held on Friday at Leela Kovalam when Chief Minister Pinarayi Vijayan will deliver the keynote addressMinister for Fisheries Culture and Youth Affairs Saji Cherian will preside with Union Minister for Fisheries Animal Husbandry Dairying and Panchayati Raj Rajiv Ranjan Singh and Minister of State George Kurian attending as guests of honourThe conclave brings together policymakers investors academics trade union representatives and fisherfolk to explore Keralas potential as Indias leading blue economy hub with a focus on sustainable practices and EUIndia cooperation IANS https://dailyworld.in/business/kerala-eu-blue-economy-conclave-opens-with-delegates-hailing-states-coastal-heritage-639299.html Thu, 18 Sep 2025 22:06:00 +0530 https://dailyworld.in/business/resounding-victory-adani-group-gets-clean-chit-from-sebi-in-landmark-order-639302.html Mumbai Sep 18 In a resounding victory for the Adani Group the Securities and Exchange Board of India SEBI has closed its investigation into the allegations made by US shortseller Hindenburg Research In a final order that exposes the falsity of the claims widely amplified by the shortseller Indias market regulator concluded that the Adani Group did not violate any rules by routing funds through two private firms effectively dismissing claims of hidden relatedparty transactions and fraudThe probe which was prompted by a Supreme Court directive following the Hindenburg report in January 2023 centred on transactions between publicly listed Adani companies Adani Ports amp Special Economic Zone Adani Power and Adani Enterprises and two private unlisted entities Milestone Tradelinks and Rehvar InfrastructureHindenburg had alleged that these private firms were used as a facade to conceal transactions that should have been disclosed to shareholders as related party transactions RPTsHowever the SEBIs exhaustive inquiry detailed in its final order found no substance to these allegations The regulators key finding rested on the effect of the LODR Regulations as they existed during the investigation period 20182023The SEBI said that the law at the time defined related party transactions only for direct dealings between a company and its related parties Milestone and Rehvar while having business ties were not legally defined as related parties to the Adani companies under the regulations in forceThe order further emphasised that the 2021 amendment to the LODR Regulations which was introduced specifically to include such indirect transactions was given a prospective not retrospective effect The SEBI ruled that applying this new stricter definition to transactions that occurred years earlier would be legally impermissibleThis conclusion is a major relief for the Adani Group which had its market value plummet severely in the wake of the Hindenburg report The SEBI also meticulously examined the financial aspect of the transactionsIt was noted that all loans which amounted to several thousand crores were repaid in full along with interest well before the SEBIs investigation commencedThere was no evidence of fund diversion siphoning of money or loss to shareholders the order stated effectively dismantling the fraud allegations under SEBIs PFUTP RegulationsWith the allegations not established the SEBI has cleared all parties involved including group Chairman Gautam Adani and his brother Rajesh Adani of any liability IANS https://dailyworld.in/business/resounding-victory-adani-group-gets-clean-chit-from-sebi-in-landmark-order-639302.html Thu, 18 Sep 2025 22:11:00 +0530 https://dailyworld.in/business/online-gaming-acts-rules-to-come-into-effect-from-oct-1-minister-639312.html New Delhi Sep 18 Union Minister Ashwini Vaishnaw on Thursday said that the rules under the Promotion and Regulation of Online Games Act 2025 will take effect on October 1 After the bill was passed by the Parliament the government resumed talks with stakeholders such as banks gaming companies and other organisations the minister said Vaishnaw said that the government had been in talks with industry stakeholders for almost three years He emphasised that the government is willing to give additional time if the industry requests it and mentioned that a final round of consultations will take place before implementation startsFor almost everything we do our government believes in a highly consultative process he statedThe act which was notified on August 22 outlaws online realmoney games in India whether they are categorised as skill or chance gamesIt is now illegal to offer or take part in such games and there is no bailA major change from previous regulations which were primarily influenced by state laws and court rulings that distinguished skillbased games from gambling the legislation was introduced in the Lok Sabha on August 20 and passed in two daysEarlier on Thursday the Minister at a preevent of the AI Impact Summit 2026 announced that the government will establish over 500 data labs nationwide as part of the India AI Mission to increase artificial intelligence AI talent and infrastructureHe said the initiative is part of the larger IndiaAI mission and eight new companies including Tech Mahindra Fractal Analytics and IIT Bombay consortium Bharatgen have been selected to build large language models LLMsUnder the IndiaAI mission the government has allocated Rs 9886 crore to an IIT Bombayled consortium to build a 1 trillion parameter LLM In LLMs that extract linguistic relations and patterns from training data internal variables are called parametersThe IndiaAI Mission is the Centres initiative to develop autonomous AI capabilities through sectorspecific AI applications sovereign LLMs GPUs and capacity projects 10300 crore was approved earlier this year IANS https://dailyworld.in/business/online-gaming-acts-rules-to-come-into-effect-from-oct-1-minister-639312.html Thu, 18 Sep 2025 23:12:00 +0530 https://dailyworld.in/business/sensex-nifty-make-strong-gains-amid-positive-cues-after-us-fed-rate-cut-639147.html Mumbai Sep 18 The Indian benchmark indices opened higher on Thursday on the back of positive global cues as the US Federal Reserve eased rates by 25 bps As of 924 am the Sensex was up 347 points or 042 per cent at 83041 and the Nifty was up 89 points or 035 per cent at 25419The Federal Reserve resumed interest rates cut cycle by reducing rates by 25 basis points to a target range of 40425 per cent citing shifting risk dynamics in the economy Fed officials projected two additional rate cuts this year forecasting rates to reach 350375 per cent by the end of 2025The rate cuts were anticipated as concerns intensified over weak labour market data and high inflationThe broad cap indices Nifty Midcap 100 inched up by 008 per cent and the Nifty Small cap 100 jumped 068 per centTech Mahindra 110 per cent ICICI Bank TCS Bajaj Finserv Trent were among major gainers on the Nifty while losers were Hindalco Bajaj Finance Apollo Hospitals SBI and SBI Life InsuranceAmong sectoral indices Nifty IT the top gainer jumped 15 per cent Nifty Realty up 066 per cent and Nifty Pharma up 037 per cent were the other notable gainers Except metal all other sectoral indices were trading in the greenThe Nifty 50 held firmly above the 25300 mark in the previous session reinforcing psychological strength and signaling investor comfort at higher levelsAnalysts said that the index now shows potential upside momentum with resistance expected around the 2540025500 zone The support remains intact at 2500024900 zonesSince the labour market is cooling and the GDP growth projection for 2025 is only 16 per cent perhaps two more cuts are possible this year said VK Vijayakumar Chief Investment Strategist Geojit Investments LimitedThe ongoing rally in the Indian market is driven by expectations of earnings revival and a positive outcome from the IndiaUS trade negotiations he addedAsiaPacific markets were largely in the green zone after US President Donald Trump said that the USChina trade negotiations are progressing well Major US indices declined modestly overnight as the Nasdaq dipped 033 per cent the SampP 500 lost 010 per cent and the Dow inched up 057 per centMost of the Asian markets made strong gains during the morning session While Chinas Shanghai index advanced 041 per cent and Shenzhen jumped 109 per cent Japans Nikkei edged up 109 per cent while Hong Kongs Hang Seng Index dipped 008 per cent South Koreas Kospi added 1 per centOn Wednesday foreign institutional investors FIIs net sold equities worth Rs 1124 crore while domestic institutional investors DIIs were net buyers of equities worth Rs 2293 crore IANS https://dailyworld.in/business/sensex-nifty-make-strong-gains-amid-positive-cues-after-us-fed-rate-cut-639147.html Thu, 18 Sep 2025 10:06:00 +0530 https://dailyworld.in/business/combined-value-of-listed-firms-on-bse-hits-11-month-high-at-rs-465-lakh-crore-639156.html Mumbai Sep 18 The combined value of all Bombay Stock Exchangelisted companies has crossed Rs 465 lakh crore marking its highest level in 11 months This surge was fuelled by a widespread rally and renewed optimism regarding the resumption of IndiaUS trade talks and the US Fed rate cut The figure is currently just 27 per cent shy of the alltime peak recorded on September 27 2024 with nearly Rs 20 lakh crore added since the beginning of SeptemberPotential easing by the Reserve Bank of India RBI in October also boosted investor sentiments as domestic inflation showed signs of softeningBenchmark indices Sensex and Nifty rose around 35 per cent this month closing the gap to record highs seen on September 26 2024Stateowned firms played a huge role in the recent rally driving the BSE PSU Index up by 75 per cent even as the BSE 500 gained 5 per cent BSE Auto rose by 9 per cent BSE Bankex up 68 per cent BSE Metal added 81 per cent and Oil amp Gas went up 45 per centMidcap and smallcap stocks also showed strong performance with the BSE MidCap index rising 47 per cent and SmallCap edging up by 6 per centAnalysts said that the Indian stock market is unlikely to be impacted by the US Fed decision They said that the ongoing rally in the market is driven by expectations of earnings revival of Indian corporatesAccording to market watchers there is a high likelihood of above 15 per cent growth in corporate earnings in FY27 due to GST reforms leading to a turnaround in FPI sentimentsHowever others maintain that valuations remain high but earnings momentum is set to improve driven by banks NBFCs and the consumption sectorsMeanwhile the Nifty 50 held firmly above the 25300 mark in the previous session reinforcing psychological strength and signalling investor comfort at higher levelsAnalysts said that the index now shows potential upside momentum with resistance expected around the 2540025500 zone The support remains intact at 2500024900 zones IANS https://dailyworld.in/business/combined-value-of-listed-firms-on-bse-hits-11-month-high-at-rs-465-lakh-crore-639156.html Thu, 18 Sep 2025 11:08:00 +0530 https://dailyworld.in/business/centre-to-help-itis-become-ai-driven-training-centres-fm-sitharaman-639180.html New Delhi Sep 18 The Union government plans to transform Industrial Training Institutes ITIs across the country into Artificial Intelligence AIdriven training centres Finance Minister Nirmala Sitharaman said on Thursday Addressing the Indian Foundation for Quality Managements IFQM second annual symposium in the national capital Sitharaman said that the government has been focussed on skilling and upskilling for the last two to three years and has made provisions for it in the annual budgetsShe noted that as the ITIs were not adding to the rapidly changing production environment the central government launched a hubandspoke model to upgrade themSo if these ITIs were to adopt the hub and spoke model within the state we will be able to provide them the entire money required for upgrading these places for AIdriven training centres the FM saidThe government has identified some institutes of excellence such as the IITs or the Indian Institute of Science for setting up institutions of excellence for AIrelated RampD and also training she addedFM Sitharaman explained that the budget aimed to ensure that AIdriven skills are given to youngsters at the ground level even if they are school dropouts or pass outs or had finished some kind of a qualification and have some degree but today want to acquire the AIrelated skillsAll such people will be entertained in the ITIbased formulation that will come up These hubs will provide handson AI training to students she said adding that many states are keen to develop the modelPointing out the need to urgently upskill Indias youth to make them ready for quick and direct employment after completing their education the finance minister sought the private sectors participation in itHow to bridge the human resource insufficiencies not adequately trained not the kind of degree I want The rounding off of the personalities is missing The degree is there but the individual is not groomed adequately enough to be a part of the large multinationals or Indian companies that you are talking about That element has to be done by all of us I would want private sector participation together with the government in readying youth to be fit for quick and direct employment Sitharaman said IANS https://dailyworld.in/business/centre-to-help-itis-become-ai-driven-training-centres-fm-sitharaman-639180.html Thu, 18 Sep 2025 12:07:00 +0530 https://dailyworld.in/business/lupin-receives-us-fda-approval-for-its-generic-cancer-drug-639192.html New Delhi Sep 18 Indian pharma major Lupin announced that the US Food and Drug Administration has approved its abbreviated new drug application for Lenalidomide capsules in strengths of 25 mg to 25 mg for cancer patients Lenalidomide has been approved for treatment of adult patients with multiple myeloma a deadly blood cancer when used with dexamethasone as maintenance therapy after autologous haematopoietic stem cell transplantation the company said in an exchange filingIt is also indicated for transfusiondependent anaemia in low or intermediate1risk myelodysplastic syndromes linked to a deletion 5q abnormalityLenalidomide capsules are a generic version of Revlimid capsules developed by American multinational BristolMyers Squibb CompanyThe product will be manufactured at Lupins Pithampur facility in Madhya Pradesh the statement addedLupin announced that its generic product will provide a costeffective alternative to RevlimidLenalidomide capsules 25 mg 5 mg 10 mg 15 mg 20 mg and 25 mg RLD Revlimid had estimated annual sales of 7511 million in the US the company saidLupin headquartered in Mumbai operates as a global pharmaceutical company in more than 100 markets and focuses on branded and generic formulations complex generics biotechnology products and active pharmaceutical ingredientsThe company has 15 manufacturing sites and seven research centres globally with over 24000 employeesLupin had recently also received the US administrations approval for Minzoya a generic contraceptive tabletThe drug remains a generic equivalent of Balcoltra developed by USbased Avion Pharmaceuticals LLC Minzoya will also be manufactured at Lupins Pithampur facilityMeanwhile Lupins shares on Thursday dipped marginally to Rs 203050 down Rs 070 or 003 per cent from the previous days closeOver the past five trading days the stock has been down Rs 530 or 026 per cent Over the past month the pharma giants shares have gained Rs 6230 or 317 per cent IANS https://dailyworld.in/business/lupin-receives-us-fda-approval-for-its-generic-cancer-drug-639192.html Thu, 18 Sep 2025 13:24:00 +0530 https://dailyworld.in/business/india-a-miracle-success-story-were-capable-of-overcoming-all-challenges-cea-nageswaran-639193.html New Delhi Sep 18 Indias Chief Economic Adviser V Anantha Nageswaran on Thursday hailed the countrys growth story saying nowhere in the world a nation of this sheer size and diversity is attempting an economic and social transformation at a massive scale and we are capable of overcoming all kinds of challenges Speaking to IANS Nageswaran said that India has always been an exciting storyNowhere in the world a country of this size and diversity is attempting an economic and social transformation within a democratic framework and having succeeded so far in coming from the poor income status to low middle income status the CEA stressedHe further stated that we need to learn not just from our failures but also from our successesWhat did we get right We got many things right So I think its a good thing especially in this time of uncertainty to focus on some of the success stories the miracles that we talk about and that would be an inspiration and reminder to us that we are capable of overcoming our challenges Nageswaran told IANS on the sidelines of an event organised by the Bharat Chamber of CommerceThe CEA also congratulated the Chamber which has been around for 125 years saying I would like to wish the Bharat Chamber of Commerce many more years and decades of distinguished service to its members and the nationEstablished in 1900 Bharat Chamber of Commerce is one of the oldest largest and leading Chambers of Commerce in the Eastern regionOn a question regarding the resumption of IndiaUS trade talks and the call between Prime Minister Narendra Modi and US President Donald Trump on PM Modis 75th birthday Nageswaran said he hoped the trade stalemate would be resolved soonI think the conversations are going on and as I said earlier I have nothing more to add I hope that this will be resolved soon he addedNageswaran has earlier said that in spite of tariff disputes and geopolitical uncertainty affecting global trade the Indian economy is better placed for good news rather than shocksIndias economy remains on a firm footing he affirmed Nageswaran credited this resilience to a decade of reforms that included digital and physical infrastructure upgrades with the gradual formalisation of small and medium enterprises IANS https://dailyworld.in/business/india-a-miracle-success-story-were-capable-of-overcoming-all-challenges-cea-nageswaran-639193.html Thu, 18 Sep 2025 13:25:00 +0530 https://dailyworld.in/business/all-you-need-to-know-about-notifications-issued-under-gst-20-reforms-639200.html New Delhi Sep 18 The Finance Ministry on Thursday issued a list of six Frequently Asked Questions on GST 20 relating to the new notifications that have been issued to bring the tax rate cuts on goods and services into effect from September 22 The FAQs are as followsQ1 In which notification will I find the CGST rates changes for goods Is a new Notification being issuedYou will find the changes in CGST rates on goods in Notification No 92025 Central Tax Rate dated 1792025 This Notification No 92025 Central Tax Rate dated 1792025 has been issued in supersession of earlier Notification No12017 Central Tax Rate dated 28th June 2017The same is available on httpstaxinformationcbicgovinview pdf1010436ENGNotificationsQ2 In which notification will I find the list of exempted goods from CGST Is a new Notification being issuedYou will find the list of goods exempted from CGST in Notification no 102025Central Tax Rate dated 1792025 This Notification no 102025Central Tax Rate dated 1792025 has been issued in supersession of earlier Notification No22017 Central Tax Rate dated 28th June 2017The same is available on httpstaxinformationcbicgovinview pdf1010437ENGNotificationsQ3 In which notification will I find the GST rate for handicrafts Is a new Notification being issuedYou will find the GST rates for handicrafts in Notification no 132025Central Tax Rate dated 1792025 This Notification no 132025Central Tax Rate dated 1792025 has been issued to amend Notification No212018 Central Tax Rate dated 26th July 2018The same is available on httpstaxinformationcbicgovinview pdf1010440ENGNotificationsQ4 Which notification prescribes the amended rates of compensation cessNotification no 12017Compensation Cess Rate dated 2862017 has been amended vide Notification no 22025Compensation Cess Rate dated 1792025 to notify the changes in compensation cess ratesThe same is available on httpstaxinformationcbicgovinview pdf1010449ENGNotificationsQ5 Which is the notification relating to change in GST rate on goods imported for petroleum operationsPlease refer to notification no 112025 Central Tax Rate dated 1792025 in this regardThe same is available on httpstaxinformationcbicgovinview pdf1010438ENGNotificationsQ6 Has a new notification been issued for bricks under Special Composition SchemeThere is no change in GST rate under the special composition scheme for bricks other than sand lime bricks Notification no 142025 Central Tax Rate dated 1792025 has been issued in this regardThe same is available on httpstaxinformationcbicgovinview pdf1010441ENGNotifications IANS https://dailyworld.in/business/all-you-need-to-know-about-notifications-issued-under-gst-20-reforms-639200.html Thu, 18 Sep 2025 14:13:00 +0530 https://dailyworld.in/business/maternity-breaks-workplace-bias-drive-gender-pay-gap-in-india-report-639202.html New Delhi Sep 18 Nearly half of jobseekers 45 per cent believe that Indias gender pay gap exceeds 20 per cent with maternityrelated career breaks and workplace bias cited as the top drivers a survey report said on Thursday According to a Naukri survey across 80 industries 51 per cent of professionals identified maternity breaks as the primary cause of pay disparity between gendersAround 27 per cent pointed to workplace bias the way women are perceived at workThe views of respondents were strongest in IT 56 per cent pharma 55 per cent and automobiles 53 per cent sectorsProfessionals with 510 years of experience 54 per cent and those with 1015 years 53 per cent reported the most pronounced impact of career breaks the report saidHalf of all surveyed professionals flagged IT as the industry with the widest gender pay gapSectors like aviation 57 per cent education 52 per cent far outpaced real estate 21 per cent FMCG 18 per cent and banking 12 per cent in terms of pay gap perceptions Traditional industries such as Oil amp Gas and Retail offered a more positive outlookThe perception of the gender pay gap was particularly strong among younger professionals freshers and midlevel professionals identifying IT as the biggest offender the report saidTechnology hubs Hyderabad 59 per cent and Bengaluru 58 per cent topped concerns about IT pay inequitiesThe survey found that senior professionals view the gender pay gap more starkly Nearly half of respondents with 1015 years 46 per cent and 15 years 47 per cent of experience said the gap remains above 20 per centProfessionals overwhelmingly responded that performanceled promotions could bridge the pay gap Biasfree and transparent hiring 27 per cent and transparent pay practices 21 per cent were also widely endorsed particularly in city clusters like Noida and Gurgaon where calls for pay transparency were the strongest IANS https://dailyworld.in/business/maternity-breaks-workplace-bias-drive-gender-pay-gap-in-india-report-639202.html Thu, 18 Sep 2025 14:14:00 +0530 https://dailyworld.in/business/public-sector-insurers-post-15-pc-premium-growth-at-rs-6-496-crore-in-aug-report-639203.html New Delhi Sep 18 Indias public sector general insurers maintained their faster growth rate for the eleventh consecutive month in August registering a 15 per cent yearonyear growth in premium at Rs 6496 crore a report said on Thursday The public sector insurers premium amount stood at Rs 56495 crore in the same month a year earlier Aug 2024The growth is largely driven by renewals in the fire engineering health and motor thirdparty segments CareEdge ratings said in its reportHowever the switch to the 1n rule due to GST reforms has affected overall headline growthThe nonlife insurance sector continued to experience a slowdown in premium growth till the month with total collections reaching Rs 249530 crore a modest 16 per cent rise YoY compared to a 42 per cent increase in August 2024At the same time private nonlife insurers including SAHI or standalone health insurers retained their dominant 70 per cent market share in August 2024 and August 2025 up from 68 per cent in August 2023On an annual basis private insurers continued to hold the majority share at 648 per cent as of August 2025 although this is slightly lower than the 664 per cent share reported a year agoMeanwhile the share of public sector insurers increased to 352 per cent from 336 per cent in August 2024The report highlighted that health insurance remains the largest segment within the nonlife insurance industry It has recorded a 143 per cent growth in premium from Rs 8038 crore in August 2024 to Rs 91837 crore in August this yearThe group health segment grew the fastest in yeartodate YTD FY26 driven by policy renewals and premium hikes amid rising medical inflationHowever growth moderated to 100 per cent down from 167 per cent in the same period last year Retail health insurance growth moderated to 85 per cent in YTD FY26 down from the 183 per cent pace seen in YTD FY25 IANS https://dailyworld.in/business/public-sector-insurers-post-15-pc-premium-growth-at-rs-6-496-crore-in-aug-report-639203.html Thu, 18 Sep 2025 14:15:00 +0530 https://dailyworld.in/business/india-us-tariff-stalemate-likely-to-be-resolved-in-8-10-weeks-chief-economic-advisor-639213.html Kolkata Sep 18 In a ray of optimism for Indian exporters Chief Economic Advisor CEA V Anantha Nageswaran on Thursday said a solution to the IndiaUS tariff issues is likely to be arrived in the next 810 weeks Addressing a session organised by the Bharat Chamber of Commerce here Nageswaran said that conversations are already going on between the two governments to end the deadlockMy hunch is that in the next eight to 10 weeks we will likely see a solution to the penal tariff imposed by the US on Indian goods he told the gatheringNageswaran indicated that the IndiaUS talks are underway to also reduce the reciprocal tariffs from 25 per cent to about 15 per centThe additional 25 per cent tariff on Indian imports came into effect from August 27 owing to New Delhi purchasing Russian oil taking the total tariffs on the Indian goods entering the US to 50 per centOn a question regarding the call between Prime Minister Narendra Modi and US President Donald Trump on PM Modis 75th birthday Nageswaran said he hoped the trade stalemate would be resolved soonI think the conversations are going on and as I said earlier I hope that this will be resolved soon he told IANS on the sidelines of the eventMeanwhile India and the US have decided to intensify efforts to achieve an early conclusion of a mutually beneficial trade agreement BTAA team of officials from the office of the United States Trade Representative led by Chief Negotiator IndiaUS Bilateral Trade Agreement negotiations Brendan Lynch arrived in India this weekThey held discussions on IndiaUS trade ties including the IndiaUS Bilateral Trade Agreement with a team of Indian officials led by Special Secretary Commerce Rajesh AgrawalAccording to a statement issued by the Commerce and Industry Ministry Acknowledging the enduring importance of bilateral trade between India and the US the discussions were positive and forward looking covering various aspects of the trade deal It was decided to intensify efforts to achieve an early conclusion of a mutually beneficial Trade AgreementAccording to Commerce Ministry sources trade discussions are going on at several levels There is a positive frame of mind on both sides while approaching trade issuesLynchs visit came as expectations of a trade deal were boosted by positive messages from Trump and PM Modi IANS https://dailyworld.in/business/india-us-tariff-stalemate-likely-to-be-resolved-in-8-10-weeks-chief-economic-advisor-639213.html Thu, 18 Sep 2025 14:41:00 +0530 https://dailyworld.in/business/indias-contribution-to-global-gdp-growth-to-reach-9-pc-by-2035-govt-official-639218.html Mumbai Sep 18 Indias dominance in the global economy is rapidly increasing and the countrys share in global GDP growth will increase to 9 per cent by 2035 up from 65 per cent in 2024 M Nagaraju Secretary Department of Financial Services Ministry of Finance said on Thursday Addressing the gathering at the annual infrastructure conclave 2025 organised by the National Bank for Financial Infrastructure and Development NABFID here M Nagaraju said that even in an environment of global uncertainty the countrys economy is progressing rapidly and remains the fastestgrowing economy in the worldHe further said that the countrys economy has been growing at an average annual growth rate of 8 per cent for the past four years and the most recent quarterly GDP growth was 78 per cent the highest in the last five quartersAccording to the Secretary Indias external sector is also performing well and the current account deficit in the last quarter was only 05 per cent of the GDPThe countrys net services exports are also growing rapidly and due to all these strong factors the country can become a developed nation by 2047 the 100th anniversary of IndependenceThis macroeconomic success story sets a solid foundation for our infrastructure ambitions It tells the world that Indias growth is not only resilient but also driven by reforms and prudent policies making us a key engine of global growth and a potential leader in shaping the postpandemic global economic order he notedComplementing the economys strength Indian banking and the financial sector have emerged as pillars of resilienceIn fiscal year 202425 public sector banks have outpaced private sector banks in credit growth This has never happened before in more than a decadeAdditionally NonPerforming Assets NPAs have fallen below one per cent and the capital adequacy ratio is also above regulatory standards indicating that Indias banking sector is in strong shapeOverall these trends point to a strong adequately capitalised financial system that is wellpositioned to meet the aspirations of a developed India IANS https://dailyworld.in/business/indias-contribution-to-global-gdp-growth-to-reach-9-pc-by-2035-govt-official-639218.html Thu, 18 Sep 2025 15:09:00 +0530 https://dailyworld.in/business/data-of-nearly-3-million-lotte-card-customers-leaked-639220.html Seoul Sep 18 Lotte Card Co the countrys fifthlargest card issuer said on Thursday that personal data of some 3 million customers has been leaked in a hacking incident last month but there has yet to be any report of improper use Lotte Card said the leaked data estimated at 200 gigabytes included identification numbers internal identification numbers and connecting informationThe leaked data also included card verification codes card numbers and card validity period of some 280000 customers critical information that may expose their owners to credit card fraud according to the company reports Yonhap news agencyLotte Card CEO Cho Jwajin issued a public apology and announced response measures including full compensation for any reported damage caused by improper use of stolen dataLeaked data was created in the online settlement process via online servers between July 22 and August 27 Cho saidThe CEO stressed that leaked data cannot be improperly used for offline settlements Additional identification processes are necessary for online settlements so improper card uses are difficult with only breached dataEarlier this month Lotte Card with some 96 million members disclosed a cyber breach Since then the financial watchdog and the card company have been struggling to gauge the damage caused by the hackingLotte Cards data breach is the latest in a series of massive cyber breach cases in the financial sector Earlier Seoul Guarantee Insurance had suffered a similar hacking incidentLotte Cards cybersecurity lapse also came as Financial Supervisory Service Gov Lee Chanjin has been calling on financial firms to beef up their cybersecurity and better safeguard customersMeanwhile the science ministry here has launched an official probe into a purported attempt to sell personal data allegedly leaked from South Koreas top mobile carrier SK Telecom Co The move came after a global hacking group Scattered Lapsus posted on its Telegram channel that it would sell SK Telecoms client data for US10000 adding that 42 South Koreans had already made contactThe government also recently launched a probe against No 2 mobile carrier KT Corp which reported a total of 278 cases of unauthorized mobile payments worth 170 million won 122000 raising concerns over a possible leak of customer data IANS https://dailyworld.in/business/data-of-nearly-3-million-lotte-card-customers-leaked-639220.html Thu, 18 Sep 2025 15:10:00 +0530 https://dailyworld.in/business/gst-20-gives-booster-shot-to-textiles-logistics-sectors-639222.html New Delhi Sep 18 The rationalisation of Goods and Services Tax under GST 20 marks a significant reform aimed at removing structural anomalies reducing costs and boosting demand in the textile and logistics industries both of which are vital for domestic growth employment and export competitiveness according to an official statement on Thursday By aligning tax rates across the value chain the GST reform ensures affordability for consumers sustains jobs in labourintensive sectors and enhances Indias ability to compete globally In the textile sector the rationalisation strengthens the entire value chain from fibre to garment by reducing distortions improving garment affordability reviving retail demand and supporting export competitiveness the statement explainedThe reduction in GST will lead to making apparel more affordable for middle and lowincome households which will stimulating domestic demand with significant impact in small towns and rural regionsGST on readymade garments up to Rs 2500 per piece is now 5 per cent making apparel more affordable and boosting domestic demandGST on manmade fibres and yarns cut from 12 per cent and 18 per cent to 5 per cent removes inverted duty structure and strengthens Small and Medium Enterprises while the reduction in GST on carpets and other textile floor coverings from 12 per cent to 5 per cent will enhance global competitiveness according to the statementSimilarly cut in GST on commercial goods vehicles from 28 per cent to 18 per cent will bring down logistics costs and support exportsThe GST reforms also extend to the transport sector which plays a crucial role in reducing logistics costs and supporting industrial growth Trucks and delivery vans which carry nearly 6570 per cent of Indias goods traffic benefit significantly from tax rationalisation Cheaper freight movement reduced cost per tonnekm benefits the transport of textile FMCG and ecommerce deliveriesThe cascading effect of lower logistics cost helps reduce overall price pressures and bring down inflation Besides lower logistics costs make Indian textiles more competitive abroadThe GST rationalisation across textiles and logistics sectors is a decisive step towards strengthening Indias manufacturing base improving affordability and boosting exports By reducing structural anomalies and easing cost pressures these reforms directly benefit consumers small businesses and exporters alike They reinforce the vision of a globally competitive India powered by resilient supply chains and a thriving textile sector the statement added IANS https://dailyworld.in/business/gst-20-gives-booster-shot-to-textiles-logistics-sectors-639222.html Thu, 18 Sep 2025 15:12:00 +0530 https://dailyworld.in/business/indian-pharma-companies-revenue-to-grow-7-9-pc-in-fy26-amidst-us-market-risks-report-639225.html New Delhi Sep 18 The Indian pharmaceutical sector is expected to achieve 79 per cent revenue growth in FY 2026 driven by strong domestic and European demand despite a significant slowdown in its US market a report said on Thursday Ratings agency ICRA in a report said that global headwinds and regulatory uncertainties cast a shadow over its largest export market in the US but 810 per cent growth is expected in the domestic market with 1012 per cent growth in EuropeThe operating profit margins of the companies are expected to remain resilient at 2425 per cent in FY26 broadly in line with 246 per cent in FY25 aided by favourable raw material prices improved operating leverage and a rising share of specialty productsUS revenues are anticipated to moderate with YoY growth slowing 35 per cent from nearly 10 per cent in FY 2025 the report saidICRAs sample set companies recorded 103 per cent YoY growth in Q1 FY26 driven by market share gains in chronic therapies new product introductions and regular price hikes despite subdued volume growth for branded generics partly due to rising genericisation said Kinjal Shah Senior Vice President amp CoGroup Head ICRAICRA maintained a stable outlook on the sector due to its steady revenue growth and earnings trajectory underpinned by healthy balance sheets strong liquidity and robust operating profit margins OPMThe ratings agency said that domestic drug sales are boosted by sales force expansion improved productivity of medical representatives deeper rural distribution new product launches and recent GST exemptions on lifesaving drugsResearch and development RampD spending is projected to remain steady at 67 per cent of revenues with companies increasingly focusing on complex molecules and specialty products over generics IANS https://dailyworld.in/business/indian-pharma-companies-revenue-to-grow-7-9-pc-in-fy26-amidst-us-market-risks-report-639225.html Thu, 18 Sep 2025 15:38:00 +0530 https://dailyworld.in/business/kerala-pushes-for-milk-self-sufficiency-farmers-gain-rs-25479-cr-in-support-639226.html Thiruvananthapuram Sep 18 Kerala has stepped up its drive towards selfsufficiency in milk production with heavy investments and farmer incentives even as the Kerala Cooperative Milk Marketing Federation KCMMF popularly called MILMA prepares to revise procurement prices Replying in the Assembly Animal Husbandry and Dairy Development Minister J Chinchu Rani on Thursday detailed the states spending and output trends underscoring milk as a key focus of the farm economyIn 202425 alone Rs 1624 crore was spent on milk shed development projectsOver the last three financial years Rs 121 crore 202122 Rs 140 crore 202223 and Rs 132 crore 202324 were mobilised through local selfgovernment institutions totalling Rs 393 crore with almost 95 per cent of panchayats participatingDirect financial benefits to farmers were substantial MILMA and its unions disbursed Rs 15799 crore as additional milk price along with Rs 968 crore on welfare measures besides subsidies on cattle feed to lower production costsIn all Rs 25479 crore was channeled to farmers in 202425 a factor credited with the steady rise in milk production from April 2025 onwardsKeralas procurement price for milk stands at Rs 4317 per litre the highest in South India In comparison Tamil Nadu pays Rs 3472 and Karnataka Rs 3520 per litreWhile the higher rate benefits local producers the state faces stiff market pressure due to inflows of cheaper milk from neighbouring states which threatens to undercut MILMAs market shareTo counter this the government has directed that calf procurement schemes be implemented mandatorily in 50 focus blocks identified as leading milkproducing zones with the aim of scaling up production and reducing dependence on outside supplyThe Minister reminded the House that under a 2011 Kerala High Court ruling the authority to revise milk prices lies solely with MILMAA fivemember committee has recommended a farmerfriendly hike which the federation is expected to implement shortly to protect Keralas producers from external competitionAlongside price measures schemes such as Ksheera Grama in selected panchayats calf rearing parks healthcare packages for cows and special projects for plantation and fisher families are being used to sustain production growthOfficials stressed that these combined steps are already delivering results reinforcing Keralas progress towards milk selfsufficiency IANS https://dailyworld.in/business/kerala-pushes-for-milk-self-sufficiency-farmers-gain-rs-25479-cr-in-support-639226.html Thu, 18 Sep 2025 15:39:00 +0530 https://dailyworld.in/business/i-t-department-conducts-survey-at-marico-offices-stock-falls-638976.html Mumbai Sep 17 The Income Tax Department on Wednesday conducted a survey at the offices and facilities of consumer goods company Marico Limited The action led by the departments Mumbai investigation unit involved more than 200 officers and was carried out at different locations across the countryMarico which owns popular brands such as Parachute Saffola and Livon has not issued any official statement so far on the developmentAccording to reports the survey is part of a larger nationwide exerciseOn the stock market Maricos shares were trading slightly lower at Rs 71425 apiece on the Bombay Stock Exchange BSE down 132 per cent or Rs 955 around 115 pmIn the last one week the companys shares fell by Rs 1935 or 263 per cent In the last two weeks the shares dropped by Rs 1920 or 261 per centIn the last one month the stock has given a return of Rs 415 or 058 per cent which is almost flatIn the last three months the companys shares have risen by Rs 2805 or 408 per cent as per the official dataThe company reported a turnover of 13 billion in the financial year 202425 FY25 from its products sold in India as well as select markets in Asia and AfricaA survey under Section 133A of the Income Tax Act is different from a search operationWhile its scope is more limited the Income Tax officers still have significant powers to detect possible tax evasionThey can inspect account books and documents mark them for identification and make copies or extractsOfficers can also impound books or documents but cannot keep them for more than 10 working days without approval from senior authoritiesIf it is revealed that relevant books or documents are kept outside the business premises officials are allowed to visit and inspect those locations as wellHowever further details about the findings of the survey are still awaited IANS https://dailyworld.in/business/i-t-department-conducts-survey-at-marico-offices-stock-falls-638976.html Wed, 17 Sep 2025 14:23:00 +0530 https://dailyworld.in/business/govt-bond-yields-may-dip-10-bps-by-november-amid-stable-inflation-oil-prices-638980.html New Delhi Sep 17 Benchmark Indian bond yields are expected to ease slightly over the next three months driven by favourable inflation data and stable oil prices a report said on Wednesday The 10year government bond yield which stood at 659 per cent on August 31 is expected to inch down to the 642 per cent652 per cent range by the end of September and to 638 per cent648 per cent by November end said the report from research firm Crisil IntelligenceState development loan yields are expected to ease from 723 per cent to the 715 per cent725 per cent range by November while 10year corporate bond yields may fall from 719 per cent to the 708 per cent718 per cent rangeCrisil reported that benign oil prices are offsetting the effects of geopolitical risks and a slowdown in global growth Key factors influencing yields are the upcoming US Federal Open Market Committee decision domestic market liquidity averaging Rs 284 lakh crore in August ongoing USIndia trade negotiations and volatile foreign capital inflowsBetween July 1 and September 8 Foreign Institutional Investors sold Indian equities totalling Rs 102 lakh crore with Rs 7800 crore sold in the first six sessions of SeptemberThere is a low likelihood of the Monetary Policy Committee MPC of the Reserve Bank of India RBI cutting the repo rate in its October meeting as the Central Bank has announced a pause and indicated any further intervention would be datadependent the report saidActual fiscal impact will be smaller than expected due to recent Goods and Services Tax GST rationalisation it addedIndias Q1 GDP growth reached 78 per cent and the governments decision to simplify the GST structure is set to release about Rs 50000 crore into the economy boosting domestic consumptionSBI Capital Markets had recently said that fiscal stress in the US and the UK is adding complexity to global trade tensions with rising debt burdens pushing bond yield curves steeper IANS https://dailyworld.in/business/govt-bond-yields-may-dip-10-bps-by-november-amid-stable-inflation-oil-prices-638980.html Wed, 17 Sep 2025 14:58:00 +0530 https://dailyworld.in/business/pm-modi-should-continue-to-serve-when-independent-india-turns-100-mukesh-ambani-638988.html New Delhi Sep 17 Prime Minister Narendra Modi should continue to serve when independent India turns 100 said industrialist Mukesh Ambani while extending wishes on PMs 75th birthday on Wednesday Mukesh Ambani the Chairman and Managing Director of Reliance Industries and Reliance Retail lauded PM Modi for working tirelessly to transform India into a global superpowerIt is not a coincidence that Modi Jis Amrit Mahotsav is coming in Bharats Amrit Kaal It is my deepest wish that Modi Ji should continue to serve India when independent India turns 100 he addedAmbani said that PM Modis efforts are working to turn India into a global superpowerI have never seen a leader who worked so tirelessly for a better future for India and Indians Ambani saidHe first transformed Gujarat into an economic powerhouse Now he is transforming the whole of India into a global superpower I join all my 145 crore fellow Indians in wishing our Prime Minister a happy birthday and praying for his continuous good health Jai Shri Krishna Jai Hind he addedEarlier Kotak Mahindra Bank director Uday Kotak lauded PM Modis habit of learning from global best practices and adapting them for India to lead the country towards a developed nationCalling every interaction with the Prime Minister an experience filled with learning and inspiration Kotak said what impressed him most about PM Modi was the way he blends vision with execution and curiosity with humilityBharti Enterprises Founder and Chairman Sunil Bharti Mittal hailed the forwardthinking technologyfirst approach of the Prime Minister which has laid a strong foundation to use technology for inclusive progressAccording to Kumar Mangalam Birla Chairman of the Aditya Birla Group PM Modi always wants to know how the economy is doing and what should be done to get the private sector to invest moreHe is also a very keen listener so if he asks you a question he will very patiently listen to what you have to say absorb it Birla saidPM Modis 75th birthday is being celebrated with nationwide events and the launch of health welfare and development programmes It has become a national moment of celebration marked by a wave of greetings and tributes from political leaders across the country IANS https://dailyworld.in/business/pm-modi-should-continue-to-serve-when-independent-india-turns-100-mukesh-ambani-638988.html Wed, 17 Sep 2025 15:04:00 +0530 https://dailyworld.in/business/gujarats-girda-emerges-as-a-trusted-national-lab-generates-rs-1034-cr-revenue-in-three-years-638990.html Ahmedabad Sep 17 The Gujarat Industrial Research and Development Agency GIRDA based in Vadodara has generated over Rs 1034 crore in revenue in the past three years 20222025 through quality testing of various industrial products Backed by more than Rs 721 crore in state government grants GIRDA has established itself as a nationally recognised and trusted laboratory particularly for industries dealing in chemicals plastics and polymersAs per official information functioning as a Centre of Excellence in RampD the institution is empanelled with major state public enterprises such as the Water Resources Department Gujarat Water Supply and Sewerage Board WASMO and Sardar Sarovar Narmada Nigam Ltd conducting crucial quality checks on PVC and HDPE pipelines for public water supply projectsIn addition to state departments GIRDA also serves central PSUs and agencies including GAIL IOCL BPCL ONGC PWD GMB GWIL Police Housing GGRC urban authorities and municipal corporations as well as irrigation departments in Madhya Pradesh Chhattisgarh and Odisha offering both lab testing and field inspection servicesRecognised by the Department of Science and Technology GoI as a Scientific amp Industrial Research Organisation SIROs and accredited by the National Accreditation Board for Testing and Calibration Laboratories NABL under the Quality Council of India GIRDA is further recognised as a research centre under the Applied Chemistry Department of The Maharaja Sayajirao University VadodaraWorking closely with Gujarat State Fertiliser and Chemicals University GSFC the agency undertakes multiple MoUs to enhance research and training Its services extend to industries in rubber plastics paints inks coatings paper highways metals inorganic chemicals cement construction materials and petroleum products offering guidance on quality checks and process improvementsAs a 100 per cent grantinaid institution of the state government GIRDA plays a crucial role in supporting small and medium enterprises SMEs in the chemical and petroleum sectors with RampD training quality control technology upgrades and product development positioning Gujarat as a hub for credible and worldclass industrial testing IANS https://dailyworld.in/business/gujarats-girda-emerges-as-a-trusted-national-lab-generates-rs-1034-cr-revenue-in-three-years-638990.html Wed, 17 Sep 2025 15:06:00 +0530 https://dailyworld.in/business/mobikwik-fraud-triggers-demand-for-deeper-probe-into-fintech-platforms-638998.html New Delhi Sep 17 A major fraud of around Rs 40 crore has raised serious concerns about the safety of fintech platforms after Gurugram Police arrested six people for exploiting a technical glitch in the MobiKwik app The incident has triggered calls for a deeper investigation into why such glitches are frequently occurring putting millions of users at riskAccording to police the glitch in the MobiKwik app allowed transactions to be recorded as successful even when users had insufficient balances in their bank accounts or wallets or when incorrect passwords were enteredThe accused allegedly misused this flaw to transfer money to their bank accounts causing heavy losses of around Rs 40 croreIndustry experts said the MobiKwik case is not an isolated one In August Policybazaar Insurance Brokers Private Limited also lodged a complaint with Gurugram Police after fraudsters impersonated its employees forged documents and misused the companys ID cards and email IDs to cheat customersIn that case at least 11 customers were duped into paying amounts ranging from Rs 8510 to Rs 35000 with the total fraud amounting to Rs 208 lakhExperts warn that repeated cases of such technical flaws and fraudulent activities in fintech platforms could undermine consumer trustThey have urged regulatory bodies and government agencies like the ED and CBI to carry out a thorough probe into why these vulnerabilities continue to surface and whether there are deeper systemic risks involvedIn Mobikwik case police officials said that about 2500 bank accounts were linked to the fraud all of which have now been frozenNearly Rs 8 crore has already been recovered The six accused identified as Rehan Mohammad Sakil Wakar Yunus Wasim Akram Mohammad Amir and Mohammad Ansar were arrested from Gurgaon and sent to judicial custody after being produced in courtThe fraud came to light after MobiKwik filed a complaint with Gurugram Police on September 13 The company had detected suspicious transactions during an internal audit a day earlierInvestigations revealed that some merchants registered on the platform along with unknown individuals misused the flaw to get funds credited despite failed transactionsThis resulted in wrongful gains for the accused and losses for the company The police have registered a case under Sections 3184 cheating of a valuable security and 314 dishonest misappropriation of property of the Bharatiya Nyaya Sanhita BNS Officers said the probe is still on and more people involved may be identified as the investigation progressesIn an exchange filing the company said that they are undertaking all possible and necessary efforts to recover the amount However since the police investigation and recovery efforts have just started its not yet possible to ascertain the impactThe company is taking aggressive collection efforts while pursuing legal course of action to recover the full amount over a period of time it added IANS https://dailyworld.in/business/mobikwik-fraud-triggers-demand-for-deeper-probe-into-fintech-platforms-638998.html Wed, 17 Sep 2025 15:47:00 +0530 https://dailyworld.in/business/indias-gdp-to-grow-65-pc-in-fy26-up-from-previous-estimates-despite-tariff-concerns-report-638999.html New Delhi Sep 17 Indias economy is set to grow faster at 65 per cent in FY2026 up from the previous expectation of 6 per cent due to GST reforms that will cushion the blow from steep US import tariffs a report said on Wednesday Credit rating agency ICRA also said in the report that proactive strategies from industries trade rerouting and geographic diversification could help India weather the tariff shockThe ratings agency however maintained that the high tariff burden is likely to weigh on sectoral profitability and demand across several industriesIndia ships more than 140 product categories to the US making the market critical for sectors ranging from auto components to seafood the report saidWhile the high US tariffs are expected to pressure margins and demand in FY2026 industry responses and policy support are helping limit immediate damage the report notedExporters are diversifying markets adding value to products and routing trade through tariffexempt geographies such as Mexico Europe and DubaiThe United States has imposed a cumulative 50 per cent tariff on Indian imports far exceeding rates applied to exporters from China Vietnam Bangladesh and JapanWhile some industries appear capable of mitigating the impact others face pronounced challenges that may weigh on earnings through FY2026 it saidSeveral auto exporters are mitigating the impact by diversifying markets enhancing value addition and leveraging subsidiaries in tariffexempt geographies such as Mexico and Europe the report saidMost companies report minimal immediate impact supported by cost passthrough strategies and customer stickiness the report addedIn the metals sector no significant volume disruption was observed despite tariffs Companies have managed a full passthrough of duties to US buyers aided by limited domestic US manufacturing capabilities in specialised products it noted IANS https://dailyworld.in/business/indias-gdp-to-grow-65-pc-in-fy26-up-from-previous-estimates-despite-tariff-concerns-report-638999.html Wed, 17 Sep 2025 15:49:00 +0530 https://dailyworld.in/business/eu-leaders-need-to-relook-at-gsp-trade-status-for-pakistan-639000.html New Delhi Sep 17 The GSP or Generalised System of Preferences of the European Union was designed as a means of linking trade preferences to specific commitments in the areas of human rights labour rights environmental protection and good governance However Pakistan while reaping rich economic gains from the system has exploited to persecute minority communities and suppress human rights The GSP regime a European Union tool created to promote human rights through trade has been hijacked in Pakistan to cover up and tolerate abuses Instead of strengthening religious freedom and democracy it accompanies surveillance silencing and persecution of minorities The irony is that a policy designed to serve human dignity is in practice acting as a silent accomplice to oppression according to an article by Staikou Dimitra in Eurasia ReviewThe article calls for EU leaders to take a fresh look at the GSP status of Pakistan as the country has violated all the principles embodied in the system EU leaders can either choose to take a stand for the principles they swore to protect or risk being accomplices to a tragedy unfolding in Pakistan the article observesDespite the trade privileges hat Pakistan enjoys from its access to the European market the government continues to allow attacks on religious communities such as the Ahmadiyya and Christians and restrict freedom of expression through digital surveillance Rather than translating into institutional progress economic cooperation often serves as a safety net for the regime the article statesEnforced disappearances sometimes by state backed militias and in some cases by the state agencies themselves have left scars on vulnerable communities in Pakistan This practice which began during Pervez Musharrafs military dictatorship continues with the involvement of the military and intelligence servicesMore than 5000 people have disappeared according to humanitarian organisations In addition approximately 80 civilians were convicted by military courts for participating in riots in 2023 which is considered incompatible with Pakistans international obligations The trial of civilians by Military Courts was condemned by the EU at multiple times in the last one year a cause big enough for the EU to seriously reconsider the GSP status for Pakistan the article points outPakistans violation of basic human rights which GSP is designed to promote is not limited to enforced disappearances and military trials It extends to the technical domain as wellAccording to a report by Amnesty International Pakistan has developed one of the most advanced surveillance systems in the world using technology from China and the West The findings of its report are based on a 2024 case in the Islamabad High Court filed by Bushra Bibi wife of former Prime Minister Imran Khan after her private phone calls were leaked onlineIn court Pakistans defence ministries and intelligence agencies denied that they conduct or have the capacity to conduct telephone tapping However during questioning the telecommunications regulatory authority acknowledged that it had already ordered telephone companies to install LIMS for use by designated services This system allows intelligence services to monitor at least 4 million mobile phones simultaneously and block 2 million internet sessions the article observesIt highlights that the conflictridden province of Balochistan in particular faces frequent internet outages and restrictions on freedom of speech In a recent report Paank the human rights department of the Balochistan National Movement BNM in a recent report strongly called on the European Union to review Pakistans GSP status stressing that it is unacceptable for Pakistan to enjoy economic advantages while committing severe oppressionThe report strongly condemned the AntiTerrorism Balochistan Amendment Bill 2025 which grants unchecked powers to the military police and intelligence agencies to arrest anyone on mere suspicion for up to three months with the possibility of extension The report noted that several Baloch leaders such as Mahrang Baloch Gulzadi Baloch Beebow Baloch Sibghat Ullah Baloch and Beeberg Baloch remain in prison even after appearing in courtAmnesty said it also examined licensing agreements commercial data leaked technical files and Chinese records linking the firewall supplier to stateowned companies in Beijing It added that the firewall is provided by Chinese company Geedge NetworksThe implementation of advanced monitoring systems LIMS WMS 20 with Chinese and Western equipment creates a climate of fear prevents freedom of expression and reinforces the repression of opponents GSP does not exercise control over these practices thus acting as an economic and political safety net for the regimeAmnesty said the firewall uses equipment from the American company Niagara Networks software from Thales DIS a subsidiary of the French company Thales and servers from a Chinese stateowned IT company An earlier version was based on Canadian SandvinePakistans secret services can monitor at least 4 million mobile phones simultaneously through the Lawful Interception Management System LIMS while a firewall known as WMS 20 which controls internet traffic can block 2 million active connections simultaneously according to Amnesty Pakistan currently blocks approximately 650000 web links and restricts platforms such as YouTube Facebook and X according to Amnesty IANS https://dailyworld.in/business/eu-leaders-need-to-relook-at-gsp-trade-status-for-pakistan-639000.html Wed, 17 Sep 2025 15:49:00 +0530 https://dailyworld.in/business/indias-domestic-consumption-gst-reforms-cushion-us-tariff-impact-report-639002.html New Delhi Sep 17 The potential impact of US tariffs has been cushioned by Indias strong domestic fundamentals robust domestic consumption and GST 20 reforms a report said on Wednesday GST reforms and frontloading of rate cuts by RBI will be supportive of Indias equity market growth and would help cushion it from external shocks the report from Bank of Baroda saidSensex grew by 665 billion in market capitalisation during 2025 despite the US tariff on Indian imports Markets have accounted for tariff uncertainty and are now focussing on underlying economic fundamentals the analysts saidThe report noted that India was among the four countries alongside Hong Kong Brazil and China that gave positive returns from January to April period after US President Trump started announcing tariffsFrom January to April US indices Dow Jones and SampP 500 recorded losses wiping out 61 trillion in market valueGlobal stock markets rebounded sharply in mid2025 it noted A 90day tariff pause announced in April along with US trade agreements with the UK Japan Indonesia and Vietnam and a truce with China led to a rebound in the market from April to SeptemberApart from the US most of the member countries of trade agreements along with Hong Kong China and Thailand posted doubledigit growthThe Dows market capitalisation increased by 2 trillion yeartodate while the SampP 500 gained 49 trillion Chinas Shanghai Composite rose by 16 trillion while Japans Nikkei gained 7564 billionGlobal head of equity strategy at Jefferies Christopher Wood on Tuesday said that domestic mutual fund inflows have shielded Indian equities from a decline of 2030 per cent this year amidst persistent selling by foreign portfolio investors FPIAugust marked the 25th consecutive month of net inflows from domestic investors with 376 billion invested in equities in the first five months of FY26 IANS https://dailyworld.in/business/indias-domestic-consumption-gst-reforms-cushion-us-tariff-impact-report-639002.html Wed, 17 Sep 2025 15:51:00 +0530 https://dailyworld.in/business/sbi-completes-divestment-of-1318-pc-stake-in-yes-bank-retains-108-pc-holding-639009.html Mumbai Sep 17 State Bank of India SBI the countrys largest lender on Wednesday announced that it has completed the sale of around 1318 per cent stake in Yes Bank Limited YBL to Sumitomo Mitsui Banking Corporation SMBC SMBC part of the Sumitomo Mitsui Financial Group SMFG is one of Japans biggest financial institutions and a leading foreign bank operating in IndiaSMFG is the secondlargest banking group in Japan with assets worth nearly 2 trillionSBI had become the largest shareholder in Yes Bank in March 2020 when the Central Government announced the Yes Bank Limited Reconstruction SchemeThe bank later picked up additional shares through the lenders followon public offer in July 2020After the latest stake sale SBI continues to remain a shareholder in Yes Bank with an approximate 108 per cent residual holdingThe divestment along with stake sales by other shareholder banks marks the largest crossborder investment in the Indian banking sectorThe deal received all necessary approvals including those from the Reserve Bank of India and the Competition Commission of IndiaSBI Chairman Challa Sreenivasulu Setty said the restructuring plan for Yes Bank in 2020 was a unique example of a publicprivate sector partnership supported by the Government of India and the RBIHe said the collaborative effort helped protect the interests of millions of Yes Bank customersYes Bank restructuring plan by RBI in 2020 was an innovative first of its kind public sector private sector partnership that was fully supported and facilitated by Government he addedWe are incredibly proud of the journey we have shared with Yes Bank in supporting their transformation since we came onboard as the major shareholder in 2020 he statedSetty also welcomed SMBC as a strategic partner describing the deal as the largest crossborder transaction in Indian bankingHe added that SMBCs global expertise will complement Yes Banks ongoing transformation and future growthSBI Capital Markets Limited acted as the financial advisor for the transaction while SampR Associates served as the legal advisor IANS https://dailyworld.in/business/sbi-completes-divestment-of-1318-pc-stake-in-yes-bank-retains-108-pc-holding-639009.html Wed, 17 Sep 2025 16:35:00 +0530 https://dailyworld.in/business/centre-launches-angikaar-2025-to-fast-track-housing-for-urban-poor-under-pms-scheme-639012.html New Delhi Sep 17 The government has launched Angikaar 2025 a twomonth nationwide campaign to fasttrack application verification and house completion under PMAYUrban 20 which was rolled out exactly a year ago on September 17 The accelerated Angikaar 2025 campaign will cover 5000 Urban Local Bodies ULBs through doortodoor awareness drives housing camps and public events according to an official statement issued on WednesdayAn additional 147 lakh pucca houses have been approved under PMAYUrban 20 taking the total number of sanctioned homes to 856 lakhThe flagship event of Angikaar 2025 PM Awas Mela Shehri will take place from September 17 to 27 serving as a dynamic platform to highlight the benefits of PMAYU and PMAYU 20 while fostering convergence and community participation at the grassroots level The event will run in two phases the first from September 17 to 27 and the second on any day between October 15 and 31 the statement saidSignificant housing has been sanctioned for marginalised communities including 32551 for SC 5025 for ST and 58375 for OBC familiesWhether its guiding families through their application process speeding up the construction of longawaited homes or connecting them with solar power and loan support Angikaar is about reaching the unreached and including the excluded the statement saidWhen Pradhan Mantri Awas Yojana Urban was launched in 2015 it carried with it a bold promise Housing for All Over the years it has transformed lives by enabling millions of lowincome families in cities to move into safe permanent and affordable homes Building on this foundation PMAYUrban 20 was launched in September 2024 Its mission is simple yet powerful leave no family behind Every urban household regardless of background must have not just a roof but a secure home with access to basic servicesAt its core Angikaar 2025 is a missiondriven campaign designed to ensure full saturation of the Pradhan Mantri Awas Yojana Urban PMAYU 20 scheme across Indias urban landscape the statement added IANS https://dailyworld.in/business/centre-launches-angikaar-2025-to-fast-track-housing-for-urban-poor-under-pms-scheme-639012.html Wed, 17 Sep 2025 16:38:00 +0530 https://dailyworld.in/business/india-to-remain-worlds-fastest-growing-major-economy-despite-global-uncertainty-639014.html New Delhi Sep 17 Amid global market volatility Indias growth is resilient and the country remains the worlds fastestgrowing major economy with its GDP forecast to continue growing 65 per cent this fiscal FY26 SampP Global said on Wednesday The positive outlook is being framed by the interplay of the nations domestic buffers and external challengesIndias growth performance with that of advanced economies shows that while past external shocks have caused shortterm challenges for India they have not derailed the countrys longterm growth trajectory SampP Global said in its reportMoreover the country has managed to enhance its growth advantage over developed countries by pursuing economic reforms infrastructure development and process improvementsAccording to the report the nation is likely to encourage more participation in global trade which offers increasing gains in economic growth capital attraction and to generation of employment opportunitiesIts strategy has become increasingly integrated and the economy needs reforming especially in terms of centre state and bureaucratic alignmentAt the same time the private credit industry is also poised for strong growth driven by a significant financing gap left by traditional lenders and strengthened by domestic insolvency frameworksAdditionally the aim to localise the nuclear value chain and use its vast thorium reserves to enhance domestic capacity building and technology transfer will pave the path for growth aheadThe report also highlighted Indias potential to increase its share of the global shipbuilding market over the next decadeWhile the countrys ambitions are well defined India needs a clear strategy to become a topfive shipbuilding nation by 2047 a challenging journey from less than 1 per cent global market share today the report notedIndias digital landscape is undergoing an unprecedented transformation which is driving significant investments in digital infrastructure such as data centres and supporting the expanding digital economyThe nation is expected to become the secondlargest market for data centers electricity demand in the AsiaPacific region over the next two years surpassing Japan and Australia the report stated IANS https://dailyworld.in/business/india-to-remain-worlds-fastest-growing-major-economy-despite-global-uncertainty-639014.html Wed, 17 Sep 2025 16:40:00 +0530 https://dailyworld.in/business/aman-gupta-thanks-pm-modi-for-redefining-leadership-639016.html New Delhi Sep 17 boAt cofounder Aman Gupta on Wednesday shared a post on social media platform X praising Prime Minister Narendra Modis dedication and work ethic Posting on the Prime Ministers 75th birthday Gupta said PM Modi had redefined what leadership looks like by working tirelessly for the nationRecounting his experience of spending a day with PM Modi in France during Bastille Day celebrations Gupta said he was amazed at the Prime Ministers energy and scheduleFrom attending the parade early in the morning to backtoback business meetings with Indian and French delegates followed by a dinner at the Louvre and midnight fireworks at the Eiffel Tower PM Modi showed no signs of slowing down Gupta recalledGupta admitted that he himself was exhausted by the end of the day but when he woke up late the next morning the Prime Minister was already in the UAE meeting government officialsFor years we grew up believing that politicians dont work hard That belief doesnt stand anymore When national leaders work with the same intensity and more of a startup founder the least we can do is raise the bar for ourselves Gupta wroteWishing the Prime Minister on his birthday Gupta said Happy Birthday narendramodi Thank you for redefining what leadership looks likeBorn on September 17 1950 in Vadnagar Gujarat Narendra Modis journey has been one of grit and determinationFrom his modest beginnings as the son of a tea seller to traveling across India for spiritual insights in his youth to his rise in politics through the Rashtriya Swayamsevak Sangh RSS and the BJP Modi has remained deeply influenced by Swami Vivekanandas philosophyHe became Gujarats Chief Minister in 2001 and served until 2014 before taking office as Indias Prime Minister on May 26 2014 Modi is currently serving his third consecutive term IANS https://dailyworld.in/business/aman-gupta-thanks-pm-modi-for-redefining-leadership-639016.html Wed, 17 Sep 2025 16:41:00 +0530 https://dailyworld.in/business/swadeshi-spirit-soars-as-pm-modi-unveils-indias-largest-textile-park-in-mp-639025.html Dhar Sep 17 IANS On the momentous occasion of his 75th birthday Prime Minister Narendra Modi on Wednesday unveiled a transformative industrial venture in Bhainsola Dhar district Madhya Pradesh by laying the foundation stone of the PM MITRA Mega Integrated Textile Region and Apparel ParknbspThis landmark initiative is set to redefine the contours of Indias textile industry and invigorate the Swadeshi movement with renewed vigournbspA textile park much like any industrial enclave is designed to offer shared infrastructure that eases the burden on individual investorsThe PM MITRA Park in Dhar will feature 81 plugandplay factory units a 20 MLD common effluent treatment plant and a 10 MVA solar power facilitynbspInvestors will benefit from competitively priced water and electricity while warehousing zones container truck parking and modern road networks will streamline logisticsnbspA dedicated 30acre zone has been earmarked for foreign investors and land allotment is being offered at highly subsidised rates Such comprehensive facilities are often beyond the reach of standalone manufacturers as the cost of building them independently can render operations economically unviableAddressing a sea of enthusiastic supporters Prime Minister Modi proclaimed Today a major industrial initiative is taking place in Madhya Pradesh The PM Mitra Park will inject new energy into Indias textile industry This park will give a new identity to the states textile and clothing industry provide employment opportunities for thousands of youth and help farmers secure fair prices for their producenbspThe Dhar PM MITRA Park is the first of seven such parks sanctioned nationwide envisioned to elevate India into a global textile powerhousenbspSpread across 2158 acres in Bhainsola village the park is meticulously designed to encompass the entire textile value chain from spinning and weaving to dyeing processing and garment manufacturing Its investorcentric infrastructure and progressive policy framework are crafted to attract both domestic and international textile enterprisesChief Minister Yadav who was also present on the occasion lauded the initiative as a historic boon for the statenbspThe Prime Minister has gifted Madhya Pradesh with the PM Mitra Park which will open new doors of prosperity for the cottonproducing farmers of MalwaNimar he said Through this park Madhya Pradesh will become a global hub for textiles PM Modi said https://dailyworld.in/business/swadeshi-spirit-soars-as-pm-modi-unveils-indias-largest-textile-park-in-mp-639025.html Wed, 17 Sep 2025 17:10:00 +0530 https://dailyworld.in/business/stock-market-continues-positive-momentum-ahead-of-fed-rate-cut-bank-stocks-jump-639028.html Mumbai Sep 17 Continuing the previous sessions gaining momentum the Indian equities ended the session on a positive note on Wednesday amid buying in heavyweights like SBI BEL and Maruti Suzuki The market remained steady as investors remained cautiously optimistic following prolonged discussions between India and the United States on tariffrelated issuesSensex ended the session at 8269371 up 313 points or 038 per cent The 30share index opened with a decent gapup at 8250640 against the last sessions closing of 8238069 The index extended the early gain a bit to hit an intraday high at 8274195 following buying in heavyweightsNifty closed at 2533025 up 9115 points or 036 per centMarkets edged higher in a subdued session on Wednesday reflecting a positive yet cautious undertone After a firm start the Nifty index traded in a narrow range throughout the day before settling at the 2533025 level said Ajit Mishra of Religare BrokingSectoral performance was mixed with IT banking and auto emerging as the top gainers while metals FMCG and pharma witnessed profittakingDespite the rangebound move underlying sentiment remains supported by optimism around policy reforms and robust domestic flows However persistent FII selling and caution ahead of the US Fed policy outcome capped the momentum he addedSBI BEL Kotak Bank Maruti Trent Tech Mahindra TCS Mahindra and Mahindra Tata Motors Infosys Asian Paints Sun Pharma and LampT were the top gainers from the Sensex basket While Bajaj FinServ Titan ITC Tata Steel and Hindustan Unilever settled lowerThe majority of sectoral indices escalated amid a mixed approach Nifty Fin Services jumped 68 points or 026 per cent Nifty Bank moved 345 points or 063 per cent Nifty Auto surged 148 points or 055 per cent and Nifty IT ended the session 235 points or 065 per cent higher Nifty FMCG fellBroader indices remained buoyed due to value buying in smallcap stocks Nifty Small Cap 100 moved 124 points or 068 per cent Nifty 100 jumped 8690 points or 034 per cent and Nifty Midcap 100 closed 49 points higher IANS https://dailyworld.in/business/stock-market-continues-positive-momentum-ahead-of-fed-rate-cut-bank-stocks-jump-639028.html Wed, 17 Sep 2025 17:35:00 +0530 https://dailyworld.in/business/indias-it-services-firms-to-grow-6-7-pc-in-fy27-in-ai-era-report-639032.html New Delhi Sep 17 The Indian IT services firms are expected to witness 56 per cent revenue growth next fiscal FY27 which could mean 810 per cent growth in the volume of work a report said on Wednesday Indias IT firms are poised to benefit from a strong US macroeconomic backdrop as their top American clients reported one of their strongest quarters in many years the report from HSBC Global Investment Research saidAnalysts at the research firm expected this momentum to lift corporate confidence and spur higher technology spending through 2025 offsetting some of the deflationary effects of artificial intelligence adoptionAs AI agents are evolving into multiagent systems prompting potential redesigns of enterprise software architectures and infrastructure the shift could create new opportunities for Indian IT firms the report saidFurther the report cited industry estimates that suggested that AI could reduce the value of IT services by 810 per cent over the next three to four years as contracts renew translating into an annual impact of up to 34 per cent in 202527However Indian IT companies said they have so far compensated for this through higher project volumes from customers and hence total revenues continue to growIn 2026 we believe there will be a push and pull between this deflationary impact and macrotailwind HSBC saidThe firm dismissed concerns over Agentic AI or advanced multiagent systems that can potentially kill the software industry and impact IT services in the long term While hyperscalers are capturing a growing share of enterprise tech budgets HSBC argued that a complete shift away from services is unlikelyIndias largest IT services firm Tata Consultancy Services TCS in August announced a wage revision for around 80 per cent of its workforce largely covering mid to juniorlevel employees The move came even as the company is preparing to lay off about 12000 staff or 2 per cent of its workforce in 2025 IANS https://dailyworld.in/business/indias-it-services-firms-to-grow-6-7-pc-in-fy27-in-ai-era-report-639032.html Wed, 17 Sep 2025 17:39:00 +0530 https://dailyworld.in/business/hyundai-india-inks-wage-agreement-with-employees-union-639055.html Chennai Sep 17 Hyundai Motor India on Wednesday informed that it has signed a wage settlement agreement with the United Union of Hyundai Employees UUHE for the period of 20242027 As per the agreement the revised allinclusive compensation package sets a new benchmark in the automotive industry The package includes an industrybest salary increase of Rs 31000 per month structured over three years in the ratio of 55 25 and 20 per centYoungmyung Park Function Head People Strategy Hyundai Motor India Limited HMIL stated At Hyundai our people are the cornerstone of our success This agreement built on mutual trust respect and constructive dialogue reflects our shared commitment to fostering a progressive workplace culture that prioritises employee welfare and supports longterm organisational growthThe longterm wage settlement will be effective from April 1 2024 through March 31 2027In addition to the salary increase agreed between the company and the union HMIL continues to lead the industry in employee welfare including bestinclass health coverage and advanced wellness programs the company said in a statementThe announcement in India came amid wagerelated unrest at Hyundais South Korean home baseEarlier this month in the US as part of President Donald Trumps crackdown on illegal migrants officials raided a Hyundaioperated EV battery plant in GeorgiaFollowing this they arrested approximately 475 people primarily South Korean nationalsThe UUHE which was founded in 2011 is the official representative organisation for HMIL employeesUUHEs continued dedication to promoting employee rights welfare and positive interactions with the firms management is demonstrated by the 1981 employees it represents as of August 31 2025 90 per cent of whom are technicians or workersMeanwhile Hyundai India shares ended the session in the green surging 182 per cent or Rs 4730 to settle at 265040 In the last five sessions the scrip rose nearly 6 per cent and in a month it jumped over 9 per cent IANS https://dailyworld.in/business/hyundai-india-inks-wage-agreement-with-employees-union-639055.html Wed, 17 Sep 2025 18:41:00 +0530 https://dailyworld.in/business/commerce-minister-goyal-to-leave-for-2-day-visit-to-uae-on-thursday-639092.html New Delhi Sep 17 Commerce and Industry Minister Piyush Goyal will visit the United Arab Emirates UAE from September 1819 to cochair the 13th IndiaUAE High Level Task Force on Investments along with Abu Dhabi Investment Authority ADIA Managing Director Sheikh Hamed bin Zayed Al Nahyan The meeting will review progress on the IndiaUAE Comprehensive Economic Partnership Agreement CEPA the Double Taxation Treaty and UAEIndia Central Bank matters Both sides will also explore opportunities for investment in key sectors including maritime and space that hold strong potential for growthDuring the visit Goyal will cochair the UAEIndia Business Council UIBC roundtable with the UAEs Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi and interact with CEOs of leading Indian and UAE companies He will also hold bilateral meetings focused on strengthening trade investment and cooperation across priority sectorsThe Union Minister is expected to meet the UAEs National Security Advisor and International Holding Company IHC Chairman Sheikh Tahnoun bin Zayed Al Nahyan Abu Dhabi Department of Economic Development Chairman Ahmed Jasim Al Zaabi and IHC Managing Director Syed Basar Shueb along with other key private sector stakeholdersThe 12th IndiaUAE High Level Task Force on Investments held in Mumbai in October 2024 saw the ratification of the IndiaUAE Bilateral Investment Treaty signed during Prime Minister Narendra Modis visit to the UAE in February 2024 Established in 2013 the task force has served as a vital platform for promoting trade and investment ties identifying new opportunities and resolving investor issuesThe UAE remains one of Indias most important strategic partners Their Comprehensive Strategic Partnership is underpinned by deep political engagement robust economic integration and collaboration across energy defence technology and food security The CEPA which came into force in May 2022 has nearly doubled bilateral merchandise trade from 433 billion in FY 202021 to 837 billion in FY 202324 while catalysing a structural shift towards nonoil sectors IANS https://dailyworld.in/business/commerce-minister-goyal-to-leave-for-2-day-visit-to-uae-on-thursday-639092.html Wed, 17 Sep 2025 21:01:00 +0530 https://dailyworld.in/business/eu-announces-new-strategy-to-reinforce-prosperity-and-security-with-india-639099.html Brussels Sep 17 The European Commission and the High Representative on Wednesday adopted a Joint Communication outlining a New Strategic EUIndia Agenda aimed to deepen broaden and better coordinate bilateral cooperation enhance prosperity and security for two sides in order to tackle major global challenges European Commission President Ursula von der Leyen announced the initiative in the 20242029 Political Guidelines She stated that EU with its new strategy is taking its relationship with India to the next level by advancing trade investment and talent mobility while deepening industrial cooperation in the defence sector at the same timeNow is the time to focus on reliable partners and double down on partnerships rooted in shared interests and guided by common values With our new EUIndia strategy we are taking our relationship to the next level Advancing trade investment and talent mobility Strengthening our joint economic security Advancing the clean transition and driving innovation together Leyen statedDeepening our industrial cooperation in defence Europe is already Indias biggest trading partner and we are committed to finalising our Free Trade Agreement by the end of the year Europe is open for business And we are ready to invest in our shared future with India she addedThe Joint Communication outlines the EUs strategic vision for enhancing cooperation with India and identifies five areas of shared interest and complementary strengths building on existing ties while addressing areas that present potential for increased engagement Amid shifting geopolitical realities closer EUIndia relations are increasingly vital for strengthening economic growth and security and diversifying supply chains in response to todays uncertain global order an EU statement detailedThe Joint Communication takes forward the proposed EUIndia Security and Defence Partnership This will enhance strategic consultations and joint initiatives including on crisis management maritime security cyber defence and counterterrorism and foster defence industrial cooperation focusing on boosting production and technological capabilities securing supply chains and driving innovation it mentionedLaunching negotiations for a Security of Information Agreement to facilitate classified information exchange will support closer security and defence cooperation Closer cooperation on the IndoPacific addressing hybrid threats space security and intensifying engagement on Russias war against Ukraine shadow fleets and sanctions are other areas of focus the statement addedThe Joint Communication also stresses on strengthening regional connectivity initiatives like the IndiaMiddle EastEurope Economic Corridor IMEC and advances Global Gateway and EUIndia trilateral cooperation with and in third countries It prioritises increasing interaction and bolstering coordination between India and the EU at all levels including skills mobility with the pilot European Legal Gateway Office to facilitate labour mobility It calls for developing a comprehensive mobility cooperation framework covering study work and researchThe Joint Communication identifies significant untapped potential in trade and investment outlining strategies to strengthen commercial ties particularly finalising the ongoing negotiations on a Free Trade Agreement FTA It proposes reinforcing supply chains while promoting critical emerging technologies and engagement on digital issues with particular attention to strengthening economic security within the Trade and Technology Council TTC the EU statedThis new strategy also proposes deepening tech cooperation including a potential EUIndia Startup partnership and invites India to associate with Horizon Europe programme It suggests ambitious initiatives for decarbonisation and the clean transition such as intensifying cooperation on renewables developing green hydrogen capabilities and expanding green finance Moreover it highlights opportunities to jointly strengthen food security and health climate and disaster resilience it addedHigh Representative for EUs Foreign Affairs and Security Policy Kaja Kallas called India as one of the important players in the world and a natural partner for the European UnionShe stated India is one of the most important players in the world today and a natural partner for the European Union There are many areas where our interests strengths and political will align Boosting our collaboration which we are proposing today will benefit the security and prosperity of citizens and businesses on both sides There are areas where we disagree Ultimately our partnership is about defending a rulesbased international order Our negotiations will address these challenges IANS https://dailyworld.in/business/eu-announces-new-strategy-to-reinforce-prosperity-and-security-with-india-639099.html Wed, 17 Sep 2025 22:17:00 +0530 https://dailyworld.in/business/govt-notifies-national-policy-on-geothermal-energy-to-achieve-net-zero-goal-639108.html New Delhi Sep 17 The government has notified the National Policy on Geothermal Energy 2025 reinforcing its commitment towards achieving the ambitious 2070 Net Zero Goal and strengthening the countrys energy security through diversified renewable energy sources India with its untapped geothermal resources is poised to leverage this clean and reliable energy source for power generation and directuse applications such as district heating agriculture aquaculture and space cooling and heating via Ground Source Heat Pumps GSHPs The newly unveiled policy provides a comprehensive framework to promote exploration development and utilisation of geothermal energy in India according to a statement issued by the Ministry of New and Renewable Energy MNREThe new policy encourages research interministerial collaboration and adoption of global best practices for geothermal energy development Regulatory and stewardship responsibilities for geothermal energy will rest with the ministryIt targets integration of geothermal energy with Indias Net Zero 2070 and renewable energy objectives with a focus on electricity generation space heatingcooling agriculture greenhouses cold storage tourism and desalinationThe policy aims to promote RampD of advanced systems such as hybrid geothermalsolar plants retrofitting abandoned oil wells and EnhancedAdvanced Geothermal Systems EGSAGS It lays emphasis on local innovation joint ventures and repurposing existing oil and gas infrastructureThe policy also provides for collaboration with international geothermal bodies and pioneering nations as well as collaboration with state governments oil and gas companies and research institutions for building a robust publicprivate ecosystem for the longterm development of the geothermal sectorBesides it promotes knowledge sharing and human resource development in the sectorAs a first step towards the exploration of geothermal energy the ministry has sanctioned five projects in the sector These include both pilot initiatives and resource assessment projects aimed at exploring the viability and potential of geothermal energy in IndiaThe Ministry of New and Renewable Energy further stated that it will continue to monitor the progress while providing a conducive environment for developers industries and research institutions to actively participate in Indias clean energy transition IANS https://dailyworld.in/business/govt-notifies-national-policy-on-geothermal-energy-to-achieve-net-zero-goal-639108.html Wed, 17 Sep 2025 23:42:00 +0530 https://dailyworld.in/business/lodha-developers-former-director-arrested-in-rs-85-crore-fraud-case-639114.html New Delhi Sep 17 Mumbai Polices Crime Branch has arrested Rajendra Narpatmal Lodha a former director of Lodha Developers Limited for his alleged involvement in a fraud worth Rs 85 crore officials said on Wednesday The arrest was made from his Worli residence by the property cell of the Mumbai Polices Crime BranchThe case began after Lodha Developers one of Indias largest real estate companies filed a complaint accusing Rajendra Lodha his son Sahil Lodha and several associates of largescale fraud misappropriation of assets and criminal breach of trustPolice allege that Rajendra Lodha who was authorised only to acquire land for the company misused his position to carry out unauthorised sales of companyowned propertiesHe is also accused of undervaluing land deals and being involved in illegal Transferable Development Rights TDR transactionsFollowing his arrest Rajendra Lodha was produced before a court which sent him to police custody till September 23Police officials said his alleged role in the fraud was uncovered during the investigationInvestigators say Lodha forged agreements MoUs and other documents to facilitate the transactionsThe complaint highlights that land in Panvel Ambernath and Kalyan was siphoned off through fraudulent deals while fake bookings and cash transactions were shown in the companys marquee project Lodha New Cuffe ParadeIn Bhopar village Kalyan over 715 lakh square feet of TDR was allegedly sold illegally causing a direct loss of around Rs 49 croreLodha Developers confirmed the development in an official statement The company said it maintains a zerotolerance policy towards misconduct regardless of the seniority or position of the individual involvedThe firm added that Rajendra Lodha had resigned from all positions on August 17 at the companys request after its Ethics Committee reviewed his conductThe company also clarified that Rajendra Lodha is a distant relative a fourthdegree connection of its Managing Director and CEO Police said further investigation into the case is underway IANS https://dailyworld.in/business/lodha-developers-former-director-arrested-in-rs-85-crore-fraud-case-639114.html Wed, 17 Sep 2025 23:49:00 +0530 https://dailyworld.in/business/sensex-nifty-open-higher-on-hopes-of-fed-rate-cut-thaw-in-india-us-ties-638911.html Mumbai Sep 17 The Indian benchmark indices opened higher on Wednesday buoyed by hopes of a Fed rate cut tonight and positive cues around the renewed IndiaUS trade negotiations As of 928 am the Sensex was up 151 points or 018 per cent at 82532 and the Nifty was up 58 points or 023 per cent at 25297The broad cap indices outperformed benchmark indices as Nifty Midcap 100 inched up by 028 per cent and the Nifty Small cap 100 moved up 060 per centTata Consumer Products up 265 per cent Tata Motors Trent NTPC and ONGC were among major gainers on the Nifty while losers were Bajaj Finance Cipla ICICI Bank and Tech MahindraAmong sectoral indices Nifty IT the top gainer jumped 091 per cent Nifty Realty up 052 per cent and Nifty Oil and gas up 043 per cent were the other notable gainers All sectors except Nifty Metal down 007 per cent and Nifty Pharma were trading in the greenTechnically Nifty is positioned above its key nearterm averages Analysts said that the immediate support for the Nifty has now shifted up to the 25000 level and the 2542025500 zones could offer resistanceMarkets are pricing in a 25basispoint cut at the conclusion of the twoday Federal Open Market Committee FOMC meeting on Wednesday responding to labour market deterioration shown in recent economic dataTraders will also scrutinise the accompanying statement and officials economic projections for guidance on the rate outlookA US trade representative delegation led by Chief Negotiator Brendan Lynch met with Indian Commerce Department officials on Tuesday to advance discussions on the IndiaUS Bilateral Trade Agreement BTAThe talks were described as positive and forwardlooking with both sides agreeing to intensify efforts toward early conclusion of a mutually beneficial trade dealMajor US indices declined modestly overnight as the Nasdaq dipped 008 per cent the SampP 500 lost 013 per cent and the Dow slipped 027 per centMost of the Asian markets made strong gains during the morning session While Chinas Shanghai index advanced 041 per cent and Shenzhen jumped 102 per cent Japans Nikkei edged up 023 per cent while Hong Kongs Hang Seng Index inched up 123 per cent South Koreas Kospi dipped 094 per centOn Tuesday foreign institutional investors FIIs purchased equities worth Rs 308 crore while domestic institutional investors DIIs were net buyers of equities worth Rs 1518 crore IANS https://dailyworld.in/business/sensex-nifty-open-higher-on-hopes-of-fed-rate-cut-thaw-in-india-us-ties-638911.html Wed, 17 Sep 2025 10:06:00 +0530 https://dailyworld.in/business/30-lakh-join-pm-vishwakarma-scheme-in-2-years-47-lakh-loans-worth-rs-41-188-crore-approved-638921.html New Delhi Sep 17 Around 30 lakh artisans and craftsmen have been registered under the PM Vishwakarma Scheme in two years and for the support in business development more than 47 lakh loans worth Rs 41188 crore have been approved the government has informed Nearly 26 lakh artisans and craftsmen have completed skill verification where 86 per cent of them completed their basic training too Raajmistri Mason is the most registered trade under the schemeThe PM Vishwakarma Scheme has emerged as a transformative initiative of the government that has supported traditional artisans and empowered themTo directly equip the skilled worker with the necessary equipment and encourage the promotion of modern technologies more than 23 lakhs evouchers have been issued as a toolkit incentive according to the governmentThe PM Vishwakarma Scheme was launched on September 17 2023 on the occasion of Vishwakarma Day with a financial outlay of Rs 13000 crores starting from FY 202324 to FY 202728The Pradhan Mantri Vishwakarma Kaushal Samman Yojana was launched to uplift the lives of these artisans and craftsperson by enhancing their skills and increasing the reach of their products and servicesIt aims to provide endtoend holistic support to artisans and craftspeople for their respective trades It emphasises encouraging the trades in rural and urban areas with special attention to women empowerment and marginalised or underserved groups like the Scheduled Castes Scheduled Tribes OBCs Specially Abled Transgenders residents of NER states Island Territories and Hilly AreasTo expand the reach in every district District Project Management Units DPMUs have been appointed in almost all the districts The role of DPMUs is to generate awareness about the scheme benefits and also inform the Vishwakarmas about training dates batch timings location of training centres stakeholder coordination and regularly monitoring the training centres to ensure adherence and compliance with the training guidelinesThe total number of DPMUs appointed under the scheme is 497 as of July 2025 who are covering 618 districts of the countryWith the support of ministries and DPMUs the scheme focuses on achieving the goal of recognising artisans as Vishwakarmas providing them with skill training modern tools and easy access to collateralfree credit along with incentives for digital transactions It also focuses on brand promotion and market linkages enabling artisans to enhance productivity quality and growth opportunitiesThe scheme brings small artisans under one umbrella and empowers them with recognition The initiative also focuses on financial support skill upgradation and connects them with global markets With this initiatives ageold traditions can thrive in a competitive world while preserving their traditional art and knowledge IANS https://dailyworld.in/business/30-lakh-join-pm-vishwakarma-scheme-in-2-years-47-lakh-loans-worth-rs-41-188-crore-approved-638921.html Wed, 17 Sep 2025 11:19:00 +0530 https://dailyworld.in/business/indias-office-space-leasing-by-gccs-set-to-grow-15-20-pc-in-2-years-report-638951.html Mumbai Sep 17 Global Capability Centres GCCs acted as the major driver of Indias commercial real estate sector with leasing projected to grow by 1520 per cent over the next two years said a report on Wednesday GCCs are projected to lease 6065 million square feet of Grade A office space by 2027 according to a report by real estate services firm ColliersThese centres have leased around 100 million square feet in Indias top seven cities since 2021 accounting for 36 per cent of total office demand Leasing activity by global corporates is expected to touch 28 million square feet by 2025 nearly doubling the 2021 figure the report saidFurther the share of GCCs in overall office leasing which had dipped to less than 30 per cent in 2022 has rebounded sharply to nearly 40 per cent in 2025 it addedCapability centres in India are steadily evolving into innovationdriven domainspecialised and technologically integrated centres and are likely to drive over 40 per cent of Indias office space demand said Arpit Mehrotra Managing Director Office Services Colliers IndiaTechnology firms accounted for 37 per cent of GCC demand leading the chart while the banking financial services and engineering sectors are expanding rapidly projected to contribute 4050 per cent of future leasingWithin GCCs the share of engineering and manufacturing occupiers has risen from 11 per cent to 17 per cent driven by growing RampD and product engineering needsBengaluru and Hyderabad accounted for 60 per cent of GCC activity since 2021 Chennai has experienced a 53fold surge in GCC leasing this year from 2021 levelFlex spaces too are likely to gain traction as GCCs seek greater scalability and agility in their workplace portfolios At the same time Tier II cities are likely to see a steady uptick in GCC activity supported by cost arbitrage infrastructure development and talent availability said Vimal Nadar National Director and Head of Research Colliers IndiaThe USbased companies have traditionally accounted for nearly 70 per cent of total GCC absorption since 2021 In recent years GCCs from the UK EMEA and APAC regions have also expanded their footprint steadily strengthening their presence in India IANS https://dailyworld.in/business/indias-office-space-leasing-by-gccs-set-to-grow-15-20-pc-in-2-years-report-638951.html Wed, 17 Sep 2025 12:27:00 +0530 https://dailyworld.in/business/india-emerging-as-global-leader-on-green-path-to-growth-638973.html New Delhi Sep 17 India is rapidly emerging as a global leader in sustainable development as it is not just following the global climate agenda but developing its own positive approach to a green future as a pathway to economic prosperity and a strong nation By combining strong political leadership a thriving private sector and a deeply rooted philosophical connection to nature India is proving that a green future is not only possible but also a direct route to prosperity and power according to an article by Erik Solheim in India NarrativeThis transformation is driven by a powerful combination of factors strong political will a vibrant business sector and an engaged civil society Far from being a burden this green shift is seen as a pathway to economic prosperity and national strength a message framed not around the fear of climate change but the promise of a brighter more prosperous future the article statesIt also points out that India has been unfairly accused of hindering international climate talks and blamed for a crisis it contributed very little to The reality is that the per capita emissions of the United States are currently 25 times higher than Indias This disparity highlights the arrogance of those who point fingers at India while ignoring their own historical and current responsibilitiesThe article highlights that Prime Minister Narendra Modi has reframed the climate debate Instead of focusing on the dire consequences of climate change like droughts or floods his message is one of opportunity He speaks of a future where every Indian is lifted out of poverty a thriving middle class emerges and India takes its rightful place as a powerful nation on the world stage Crucially this vision is anchored in green technologies solar wind electric cars and other renewables This positive aspirational message resonates far more deeply than one built on fear and sacrificeIt states that this shift in messaging is a lesson the world should learn from It turns climate action from a negative problemfocused agenda into a positive inspiring one The absence of a significant climate denial movement in India unlike in many Western countries further strengthens this approachThe article underlines the success that India has achieved in setting up solar wind and hydro power projects to fight climate changeIndias green progress is not just a topdown mandate its a nationwide movement with remarkable success stories unfolding across different statesIt mentions Gujarat as a frontrunner with an ambitious goal of generating 100 GW of solar energy by 2030 This alone would make it one of the largest renewable energy economies in the world if it were a separate nation Tamil Nadu is making strides in restoring its windmills and has embarked on a largescale mangrove restoration project while Madhya Pradesh hosts some of the countrys most innovative green projects This includes a 150 MW floating solar plant on the Omkareshwar dam in Khandwa and Indias first solar village SanchiBesides Andhra Pradesh like Gujarat is a leader in solar energy generation with significant capacity installed and Uttar Pradesh is focusing on hydro and pumped storage and has made strides in greening its agriculture sectorThe article also points out that the deeprooted connection between Indian philosophy and nature plays a significant role in this green transformation The ancient Hindu philosophy of Dharma venerates the environment viewing humans as an integral part of nature rather than superior to itThis contrasts sharply with some Western traditions which historically have viewed humans as being above nature free to exploit it for their own ends the article addsErik Solheim the author of the article is a wellknown global leader on environment and development as well as an experienced peace negotiator He served as Norwegian minister of Environment and International Development from 20052012 IANS https://dailyworld.in/business/india-emerging-as-global-leader-on-green-path-to-growth-638973.html Wed, 17 Sep 2025 14:20:00 +0530 https://dailyworld.in/business/sensex-nifty-open-higher-as-india-us-trade-talks-set-to-resume-638731.html Mumbai Sep 16 The Indian benchmark indices opened higher on Tuesday amid mixed global cues as US Chief Negotiator Brendan Lynch arrived in India to resume trade negotiations between the two nations As of 925 am the Sensex was up 184 points or 023 per cent at 81970 and the Nifty was up 47 points or 019 per cent at 25117The broadcap indices outperformed benchmark indices as Nifty Midcap 100 inched up by 026 per cent and the Nifty Small cap 100 moved up 070 per centKotak Mahindra Axis Bank and Hero Motocorp were the top gainers on NSE Nifty 50 index Titan Company SBI Life Insurance Asian Paints and Tata Consumer Products weighed on the Nifty 50 indexAmong sectoral indices Nifty Media the top gainer jumped 108 per cent Nifty Auto up 065 per cent and Nifty Oil and gas up 057 per cent were the other major gainers Except Nifty FMCG and Nifty PSU Bank which were marginally down all other indices were in the greenAnalysts said that from a technical standpoint a sustained move above the 25160 level could pave the way for a rally toward 25250 and 25500 zones The immediate support lies at 25000 and 24900 zonesThe bold reforms both fiscal and monetary implemented this year have started yielding results and is likely to gather momentum in near future An IndiaUS trade agreement without the penal tariffs can be a shot in the arm for markets said VK Vijayakumar Chief Investment Strategist Geojit Investments LimitedMajor US indices ended firmly in the green zone overnight as the Nasdaq rose 094 per cent the SampP 500 gained 047 per cent and the Dow advanced 011 per centMost of the Asian markets made strong gains during the morning session While Chinas Shanghai index dipped 01 per cent and Shenzhen inched down 026 per cent Japans Nikkei rose 054 per cent while Hong Kongs Hang Seng Index inched up 007 per cent South Koreas Kospi inched up 12 per centThe US markets are pricing in a 964 per cent probability of a 25basispoint rate cut on September 17 with additional cuts expected through yearendOn Monday foreign institutional investors FIIs sold equities worth Rs 1268 crore while domestic institutional investors DIIs were net buyers of equities worth Rs 1933 crore IANS https://dailyworld.in/business/sensex-nifty-open-higher-as-india-us-trade-talks-set-to-resume-638731.html Tue, 16 Sep 2025 10:03:00 +0530 https://dailyworld.in/business/cbic-eases-procedures-for-provisional-assessments-of-imports-and-exports-638757.html New Delhi Sep 16 The latest amendments in customs rules on provisional assessments of imports and exports will aid revenue protection trade facilitation and bring closure to longpending cases industry experts said on Tuesday The Central Board of Indirect Taxes and Customs CBIC has issued the Customs Finalisation of Provisional Assessment Regulations 2025 aimed at enhancing speed certainty and transparency in customs administration The new regulations lay down specific timelines for completing provisional assessmentsIndustry experts expect the move to alleviate persistent bottlenecks in trade and customs administrationThe Customs Finalisation of Provisional Assessment Regulations 2025 mark a longawaited move towards certainty and efficiency in customs administration By introducing clear timelines CBIC has addressed a pain point that has long burdened both trade and authorities said Manoj Mishra Partner and Tax Controversy Management Leader Grant Thornton BharatBusinesses will experience faster release of blocked working capital lower compliance costs and improved predictability in supply chains he saidMishra however added that the true test will be in implementation especially in matters tied to Special Valuation Branch proceedings DRI investigations or prolonged litigationTimely finalisation while safeguarding the assessees right to present submissions will be critical If executed in the intended spirit these regulations can balance revenue protection with trade facilitation bringing closure to longpending cases and building greater trust between industry and administration he further saidUnder the new rules importers and exporters must provide required documents within 15 days of requisition with a possible extension of up to two months Customs officers are required to complete enquiries within 14 months The finalisation of provisional assessments is to be completed within two years from the date of provisional assessment except in cases involving appeals stay orders or international information requests the notification saidThe new framework permits voluntary duty payments in the provisional assessment phase which shall be adjusted against the duty finally assessed at the time of finalisationInterest obligations and penalties up to Rs 25000 apply for noncompliance Additionally procedures for refunds duty recovery and bond cancellations have been detailed to streamline processes IANS https://dailyworld.in/business/cbic-eases-procedures-for-provisional-assessments-of-imports-and-exports-638757.html Tue, 16 Sep 2025 12:08:00 +0530 https://dailyworld.in/business/gst-reforms-to-significantly-benefit-state-discoms-report-638770.html New Delhi Sep 16 The Goods and Services Tax GST reforms will significantly benefit the stateowned power distribution companies discoms a report said on Tuesday The tariff hike implemented by discoms at 19 per cent in FY26 is not sufficient to meet the debt the ratings agency ICRA said in the report adding that the GST reforms will bring some reliefThe allIndia average cost of supply to average revenue realised ACSARR gap stood at 46 paise per unit necessitating a 45 per cent tariff increase and reduced Aggregate Technical amp Commercial ATC losses to bridge the gap it saidThe regulatory assets unpaid dues or tariff gaps remains elevated at Rs 3 lakh crore the ratings agency notedThe rationalisation of GST rates on coal from 5 per cent to 18 per cent and removal of compensation cess of Rs 400 per ton is expected to reduce the cost of generation for coalbased power generators it saidThis is expected to further benefit the discoms and translate into a reduction of around 12 paise per unit in their cost of supply as coalbased capacity accounts for over 70 per cent of total generation at an allIndia level the rating agency saidThe Supreme Court has ordered all state electricity regulatory commissions SERCs to liquidate legacy regulatory assets RAs within four years and limit the creation of new RAs to 3 per cent of the annual revenue requirementComplying with the courts directive necessitates significant tariff increases and reduction in aggregate technical and commercial ATampC losses below 15 per cent ICRA noted that Tamil Nadu Uttar Pradesh and Rajasthan comprise most of the RA buildupThe implementation of the Fuel and Power Purchase Adjustment Surcharge FPPAS mechanism is inconsistent across states restricting the passthrough of increasing costs said Girishkumar Kadam Senior Vice President and Group Head Corporate Ratings ICRAThe Appellate Tribunal for Electricity APTEL has been assigned to monitor compliance with the courts order IANS https://dailyworld.in/business/gst-reforms-to-significantly-benefit-state-discoms-report-638770.html Tue, 16 Sep 2025 13:20:00 +0530 https://dailyworld.in/business/manufacturing-services-sector-lead-robust-gdp-growth-in-q1-report-638774.html New Delhi Sep 16 The robust GDP growth in the first quarter Q1 FY26 at 78 per cent which was well above the estimate of 66 per cent was led by a sharp growth in the manufacturing sector and strong momentum in the services sector a report said on Tuesday All three heads within the services Trade Hotels Transport and Commerce and Broadcasting Services 86 per cent as compared to the estimated 6 per cent Financial Real Estate and Professional Services 95 per cent in Q1FY26 as compared to 78 per cent in Q4FY25 and Public Administration and Defence 98 per cent as compared to 87 per cent performed well CareEdge Ratings said in its reportWhile the healthy momentum in the services sector was somewhat reflected by highfrequency indicators like strong growth in central revenue expenditure healthy services exports growth in eway bill collection and cargo traffic the overall growth for this sector turned out higher than expectedWithin the industry the manufacturing sector posted higher growth 77 per cent as compared to 48 per cent likely supported by improving domestic consumption and the frontloading of imports by developed economies ahead of higher tariff implementationThis sharp rise in manufacturing is a positive developmentHowever the gains in manufacturing were partly offset by a sharp contraction in mining 31 per cent compared to 25 per cent and a moderation in utilities 05 per cent as compared to 54 per cent which capped the overall industrial growth The early onset of the monsoon weighed on mining activity the report statedContrary to expectations agricultural growth moderated in Q1 FY26 37 per cent as compared to 54 per cent However a good monsoon along with robust Kharif sowing should support agricultural growth going forwardOverall Gross Value Added GVA growth stood at 76 per cent for Q1 FY26The positive gap between GDP and GVA was in line with expectations as growth in indirect taxes outpaced the growth in subsidies the report noted IANS https://dailyworld.in/business/manufacturing-services-sector-lead-robust-gdp-growth-in-q1-report-638774.html Tue, 16 Sep 2025 13:23:00 +0530 https://dailyworld.in/business/govt-initiatives-help-oil-companies-thrive-in-unfavorable-global-environment-report-638780.html New Delhi Sep 16 The Indian governments decisive initiatives have helped oil marketing companies OMCs thrive in a volatile global environment a report said on Tuesday In the last six months Indian oil marketing companies have witnessed volatility in refining margins potential risk on the US urging India to reduce its intake of Russian oil and depreciation of the Indian currency against the US dollarThe Indian government has been backing OMCs by supporting decisions even in August 2025 India imported 13 million barrels per day which are in the best commercial interests of these companies and also promising to pay LPG underrecovery incurred in FY24 HSBC Global Investment Research said in a reportAll this resulted in OMC stocks surging by 1423 per cent as compared to the NIFTY50 up 12 per cent in the last six monthsCombined refining and marketing RampM margins have been the hallmark of this steady performanceWhile refining margins expanded in the interim and then contracted and Indian currency depreciation ate away some of the marketing margins combined margins have stood steady at 2225 barrel which are much higher than our and the streets fullyear estimates the report mentionedThis leaves a comfortable margin of safety for these companies which historically have been associated with highly volatile earningsOur HSBC global team forecasts a big surplus in oil from Q4 CY25 onward with a downside risk to HSBCs Brent oil forecast of 65 per barrel for 2026 This provides further cushioning to estimates the report notedMoreover auto fuel demand continues to maintain momentum despite weakness in ATF In August 2025 auto fuel demand maintained momentum growing 26 per cent yearonyear YoYGasoline demand grew a strong 55 per cent YoY while diesel demand grew 12 per cent YoY ATF demand is negative for a second consecutive month at 29 per cent after 23 per cent in JulyWith recent trends in air traffic improving we expect the decline also to reverse the global investment firm saidOMCs will continue to add new outlets which grew 8 per cent YoY in July 2025 At the same time they have added EV outlets which now account for 30 per cent of their total outletsAccording to the report OMCs have to fund large capital expenditure plans which gives us comfort that the government is unlikely to take away a large part of their margins by tweaking dutiesAlso a downside risk in oil prices provides further support to earnings said the report IANS https://dailyworld.in/business/govt-initiatives-help-oil-companies-thrive-in-unfavorable-global-environment-report-638780.html Tue, 16 Sep 2025 13:57:00 +0530 https://dailyworld.in/business/all-you-need-to-know-about-the-new-tax-rates-in-gst-20-era-638783.html New Delhi Sep 16 The Finance Ministry on Tuesday issued a list of frequently asked questions FAQs to provide a more detailed explanation on the tax rate cuts that have been announced as part of the GST 20 reforms Q1 Is it required to recall and relabel MRP on medicines already in the supply chain before 22nd September 2025 How will the relabelling be implementedAnswer The National Pharmaceutical Pricing Authority NPPA vide OMs dated 1292025 and1392025 have clarified the following All manufacturers marketing companies selling drugs formulations shall revise the Maximum Retail Price MRP of drugsformulations including medical devices The manufacturers marketing companies shall issue revised price list or supplementary price list in Form VVI to dealers and retailers for display to consumers and to State Drug Controllers and the Government reflecting the revised GST rates and revised MRPRecalling relabelling or resticking on the label of container or pack of stocks released in the market prior to 22nd September 2025 is not mandatory if manufacturer marketing companies are able to ensure price compliance at the retailer levelQ2 Unmanned aircrafts Drones attracted 5 per cent 18 per cent and 28 per cent GST rate The 56th GST Council had recommended a 5 per cent GST rate on drones Whether this 5 per cent GST rate will apply to all types of dronesAnswer Yes The GST Council has recommended a uniform GST rate of 5 per cent on all dronesQ3 What is the current GST rate on bricksAnswer The GST council did not recommend any change on the special composition scheme rates except on sand lime bricks on which GST rate has been recommended to be reduced from 12 per cent to 5 per cent Hence all kinds of bricks except sand lime bricks continue to attract GST of 6 per cent without ITC and 12 per cent with ITC with a threshold limit of Rs 20 lakhQ4 What are the insurance services covered within the ambit of the exemption granted to individual life and health insuranceAnswer Services of individual health and life insurance business provided by insurers to the insured where the insured is not a group are included within the ambit of the exemption When these services are provided to an individual or to an individual with hisher family the same will be exemptedQ5 In addition to exempting services of individual health and life insurance supplied by insurers will any input services of insurers be also exemptedAnswer At present insurers are availing ITC on many inputs and input services such as commissions brokerage and reinsurance etc Out of these input services reinsurance services will be exempted Input Tax Credit of other inputs or input services is to be reversed because the output services will be exemptedQ6 Do hotels which supply units of accommodation having value less than or equal to Rs 7500 per unit day have the option of supplying such units at 18 per cent with ITCAnswer Suppliers of hotel accommodation service where the value of a unit of accommodation is less than or equal to Rs 7500 per unit per day shall have to charge GST at 5 per cent without ITC on such units It is a mandatory rate prescribed for such services and the option to pay GST at the rate of 18 per cent with ITC is not available for such unitsQ7 Will hotels supplying units of accommodation having value less than or equal to Rs 7500 per unit per day be able to avail ITC in relation to such unitsAnswer The hotels supplying units of accommodation which have value less than or equal to Rs 7500 per unit per day shall not be able to avail ITC on such units as the GST rate prescribed for such supplies is 5 per cent without ITCQ8 Is the 5 per cent without ITC rate on beauty and physical wellbeing services mandatory Can service providers charge 18 per cent with ITCAnswer The 5 per cent without ITC rate on beauty and physical wellbeing services is mandatory Service providers do not have the option to charge 18 per cent with ITC on these servicesQ9How should a service provider deal with input tax credit ITC in cases where GST is payable at a rate of 5 per cent without ITCAnswer In such casesa Credit of input tax charged on goods or services used exclusively in supplying such services shall not be taken by the service provider andb Credit of input tax charged on goods or services used partly for supplying such services and partly for supplying other taxable supplies shall be reversed by the service provider as if the supply leviable to 5 without ITC is an exempt supply Consequently proportionate ITC shall be required to be reversed by the service provider as per Section172 of the CGST Act 2017 and the rules made thereunderQ10 What is the GST rate applicable on job work services in relation to bus body buildingAnswer Job work services in relation to bus body building are taxable at a GST rate of 18 per cent with Input Tax Credit ITC In the recent rate rationalization exercise all residual job work services or other manufacturing services have been aligned to 18 per cent with ITC thereby subsuming the specific entry for bus body buildingQ11 What is the GST rate applicable on job work services in relation to bricksAnswer Jobwork services in relation to those bricks that will attract GST at 5 per cent eg sandlime bricks will be taxable at the rate of 5 per cent with ITCQ12 What is the GST rate applicable on multimodal transport of goodsAnswer Multimodal transport of goods where at least two different modes are used by a multimodal transporter will be taxable as followsa 5 per cent with restricted input tax credit ie ITC allowed only on input services of transportation of goods limited to 5 per cent of the value when no leg of transport of goods is by air b 18 per cent with full input tax credit when at least one leg of the transport is by airQ13 Can ITC be taken on multimodal transport services where no leg of transport is by air and the applicable rate is 5 per centAnswer Input services of goods transportation limited to 5 per cent of the value will be allowed even if the supplier of such services has charged a higher rate of tax ITC will not be allowed for other inputs or input servicesQ14 What is the tax treatment if multimodal transportation involves transport of goods through air alsoAnswer If at least one leg of transport is through air the applicable GST rate will be 18 per cent In such cases entire ITC of inputs or input services is allowedQ15 Who is liable to pay GST for Local Delivery Services provided through ECOAnswer Services by way of local delivery provided through an ecommerce operator ECO where the person supplying such services is not liable to register under Section 221 will be covered under Section 95 of the CGST Act In such cases the liability to pay GST will be on the ECOQ16 At what rate are local delivery services taxableAnswer The services of local delivery are taxable at 18 per centQ17 Whether an ECO providing the local delivery services is covered within the scope of GTA What will be the effect if the local delivery services are provided through an ECOAnswer Goods Transport Agency GTA will not includea electronic commerce operator by whom the services of local delivery are provided and b electronic commerce operator through whom the services of local delivery are providedQ18 What is tax treatment for leasing or renting services without operatorAnswer Majority of leasing or rental services without operator are taxed at the same rate as applicable on supply of like goods No change is proposed in this regard The tax rate on such services will continue to be equal to the tax rate applicable on supply of like goods For example if cars or machines are taxed at 18 per cent then the rate of 18 per cent will be applicable for leasing or renting without operator of such cars or machines Similarly if supply of any motor vehicle is taxed at 40 per cent or 5 per cent then the leasing or renting services without operator will also be taxed at 40 per cent or 5 per cent respectivelyQ19 What is the applicable tax rate on leasingrenting a car with an operatorAnswer Supplier of services of leasingrenting a car with operator for example driver will now have the option of charging 5 per cent with ITC of input services in the same line of business or 18 per cent with full ITC IANS https://dailyworld.in/business/all-you-need-to-know-about-the-new-tax-rates-in-gst-20-era-638783.html Tue, 16 Sep 2025 13:59:00 +0530 https://dailyworld.in/business/jaguar-land-rover-extends-production-halt-until-sep-24-after-cybersecurity-breach-638787.html New Delhi Sep 16 Tataowned British luxury carmaker Jaguar Land Rover JLR on Tuesday said that it has extended its pause in production until September 24 after being hit by a cybersecurity incident earlier this month The company said that its global operations remain disrupted as investigations into the breach continueIn a statement JLR said it has informed its employees suppliers and partners about the decision to keep production suspended until Wednesday September 24Today we have informed colleagues suppliers and partners that we have extended the current pause in our production until Wednesday September 24 the company saidThe carmaker explained that it is still carrying out a forensic investigation into the cyberattack and is carefully planning different stages of a controlled restart of its operationsWe are very sorry for the continued disruption this incident is causing and we will continue to provide updates as the investigation progresses the company saidThe disruption comes at a challenging time for JLR The automaker has already been struggling with declining profits due to rising costs linked to US tariffsThe cyberattack has added further strain by halting production at a time when the company is working to strengthen its businessJaguar Land Rover had signed a fiveyear contract worth 800 million with Tata Consultancy Services in 2023 to provide cybersecurity and IT supportThe deal was part of JLRs strategy to accelerate digital transformation across its operations Despite these efforts the current breach has caused a significant setbackIndustry analysts say the prolonged suspension could affect JLRs supply chain and sales targets especially in key marketsFor now the company is focusing on restoring its systems securely and ensuring its operations return to normal as quickly as possible IANS https://dailyworld.in/business/jaguar-land-rover-extends-production-halt-until-sep-24-after-cybersecurity-breach-638787.html Tue, 16 Sep 2025 14:20:00 +0530 https://dailyworld.in/business/jaguar-land-rover-extends-production-halt-until-sep-24-over-cybersecurity-breach-638788.html New Delhi Sep 16 Tataowned British luxury carmaker Jaguar Land Rover JLR on Tuesday said that it has extended its pause in production until September 24 after being hit by a cybersecurity incident earlier this month The company said that its global operations remain disrupted as investigations into the breach continueIn a statement JLR said it has informed its employees suppliers and partners about the decision to keep production suspended until Wednesday September 24Today we have informed colleagues suppliers and partners that we have extended the current pause in our production until Wednesday September 24 the company saidThe carmaker explained that it is still carrying out a forensic investigation into the cyberattack and is carefully planning different stages of a controlled restart of its operationsWe are very sorry for the continued disruption this incident is causing and we will continue to provide updates as the investigation progresses the company saidThe disruption comes at a challenging time for JLR The automaker has already been struggling with declining profits due to rising costs linked to US tariffsThe cyberattack has added further strain by halting production at a time when the company is working to strengthen its businessJaguar Land Rover had signed a fiveyear contract worth 800 million with Tata Consultancy Services in 2023 to provide cybersecurity and IT supportThe deal was part of JLRs strategy to accelerate digital transformation across its operations Despite these efforts the current breach has caused a significant setbackIndustry analysts say the prolonged suspension could affect JLRs supply chain and sales targets especially in key marketsFor now the company is focusing on restoring its systems securely and ensuring its operations return to normal as quickly as possible IANS https://dailyworld.in/business/jaguar-land-rover-extends-production-halt-until-sep-24-over-cybersecurity-breach-638788.html Tue, 16 Sep 2025 14:20:00 +0530 https://dailyworld.in/business/-indias-fitness-tech-sector-raises-989-million-to-date-report-638791.html New Delhi Sep 16 Indias fitness tech sector has raised 989 million across 203 equity rounds till date underscoring its steady expansion despite current cautious funding activity a report said on Tuesday The fitness tech ecosystem currently comprises more than 600 active startups of which 96 have secured equity fundingOver the last decade 20162025 YTD annual funding grew from 242 million in 2016 to a record 3879 million in 2021 before moderating to 483 million in 2024 Meanwhile 2021 marked the most funded year Tracxn said in a reportIn terms of topfunded startups to date Cultfit remains the most funded startup in the sector with 6666 million followed by HealthifyMe with 1453 million while Ultrahuman has secured 549 million in fundingThe sector has recorded four mega funding rounds of over 100M to date all raised by Cultfit These include a 180M Series F in 2021 a 1105M Series D in 2020 a 120M Series D in 2019 and a 120M Series C in 2018Indias Fitness Tech ecosystem is entering a phase of steady maturity shaped by a combination of rising health awareness supportive policy initiatives and rapid digital adoption Investors continue to see strong longterm potential here even as funding in recent years has been more measured said Neha Singh CoFounder of TracxnGeographically Bengaluru led the funding landscape in Indias Fitness Tech sector securing 8976 million in total funding to date Mumbai followed as the secondlargest hub with 332M led by FitCircle RESET Tech and AlphaCoachThe sector spans wearables connected gym equipment fitness apps and AIpowered platforms offering personalised workouts nutrition tracking and health monitoringThe fitness tech sector has recorded 12 acquisitions to date reflecting growing consolidation in the ecosystemNotable deals include Johnson Health Techs acquisition of Schwinn Fitness in 2024 MyAvas acquisition by Bonatra in 2023 and Zyogas acquisition by Appointy in 2023 the report said IANS https://dailyworld.in/business/-indias-fitness-tech-sector-raises-989-million-to-date-report-638791.html Tue, 16 Sep 2025 14:43:00 +0530 https://dailyworld.in/business/high-net-worth-families-can-help-india-become-5-trillion-economy-faster-report-638792.html New Delhi Sep 16 Indias highnetworth HNW families can help the country become a 5 trillion economy by utilising their capital for social goals using impact investing and blended financing techniques a report said on Tuesday Impact investing means generating returns by investing in businesses that make a positive social impact Blended finance is a technique where wealthy individuals mix their money in social business initiatives that receive grants or government funds to reduce riskMany HNW families continue to operate in silos and exhibit low retention in impact investing according to the report from wealth advisory firm Waterfield Advisors and NPO organisation Impact Investors Council IICHNW family participation in impact investing is rising but retention is weak Of the 316 HNW families who entered in 2021 just 64 remain active in 2024 the report saidWhile public funding remains the dominant source of social sector expenditure a significant financing gap persists and is expected to widen further in the coming years the report addedHNW families are uniquely positioned to fill this gap by investing in highimpact enterprises in sectors like health education agriculture livelihood climate financial inclusion and affordable housing it notedThis report is a call to move from oneoff experiments to sustained convictionled strategies that can help close Indias social financing gap said Soumya Rajan Founder and CEO of Waterfield AdvisorsWhen discussions turn into conviction and then to action family wealth can truly catalyse systemic change and power Indias 5 trillion journey added Girish Aivalli CEO Impact Investors Council IICThe countrys economy continued its strong momentum in the first quarter of 202526 Q1 FY26 with GDP growing 78 per cent compared to 65 per cent in the same period last year IANS https://dailyworld.in/business/high-net-worth-families-can-help-india-become-5-trillion-economy-faster-report-638792.html Tue, 16 Sep 2025 14:44:00 +0530 https://dailyworld.in/business/india-takes-lead-with-ai-driven-forecasts-to-help-farmers-face-erratic-weather-638795.html New Delhi Sep 16 While climate change is making the pattern of rainfall more erratic and difficult to predict the Indian government has started providing AIdriven forecasts directly to farmers on smartphones to help them manage their agricultural operations This years unusual monsoon with its early arrival and a rare midseason hiatus illustrates just how fragile agricultural rhythms have become But this year was also different for another reason millions of Indian farmers had artificial intelligence on their side according to an article by Stacey Glaser in One World OutlookEarlier accurate weather forecasting could be done only by governments and wellfunded institutions backed by supercomputers that cost millions of dollarsBut AI has begun to dismantle that exclusivity With opensource models like Googles NeuralGCM and the European Center for MediumRange Weather Forecasts AI systems highly granular predictions are now possible on devices as modest as a farmers smartphone according to an article by Stacey Glaser in One World OutlookThe article refers to this wider availability of forecasting as not just a technological innovation but a political and social breakthrough In India the government sent AIdriven forecasts to 38 million small farmers this monsoon season it statesRather than offering broad weather summaries forecasts were tailored to the needs of individual farmers whether to plant early buy more seed or prepare for droughtlike pauses the article statesWeather forecasting once dominated by elite institutions is now being reframed as a public good Researchers at the University of Chicago working with the Indian government helped bridge the gap between machine learning outputs and actionable adviceThe article cites Amir Jina an assistant professor involved in the project as saying What dots hadnt been connected before was this tailoring of forecast to purposeThis tailoring is important as a nationallevel forecast issues an overall warning of heavy rains However farmers need specific information on whether they should delay planting rice seedlings or whether a sugarcane field should be irrigated This requires locally relevant information which is being made possible through AI forecastsThe article also points out that the scale of Indias forecasting also opens an opportunity for emulating the same method in other countriesIf India can deploy AIdriven forecasts at scale for some of the worlds poorest farmers then other developing nations may follow suit In the face of climate change information is not just power it is survival the article added IANS https://dailyworld.in/business/india-takes-lead-with-ai-driven-forecasts-to-help-farmers-face-erratic-weather-638795.html Tue, 16 Sep 2025 14:46:00 +0530 https://dailyworld.in/business/phonepes-indus-appstore-now-on-10-crore-devices-638797.html Bengaluru Sep 16 Indus Appstore Indias Android app marketplace announced that it has hit the 10crore device mark The app stores localised feature allowing users to discover apps in 12 Indian languages along with English is one of the key factors to its success About 40 per cent of users navigate the app store in a regional language with Hindi Marathi Tamil and Gujarati being the most popular languagesThe app store has a significant presence in states like Uttar Pradesh Bihar and Maharashtra with Karnataka and Telangana following close behind as key user hubsIts a proud moment for all of us to cross the 10crore milestone and it is an important step in our journey of building a horizontal app store for India We will continue to offer our users a seamless safe and rich app selection experience that makes Indus Appstore not only a destination for apps but a platform where users can discover apps that are right for them said Priya M Narasimhan Chief Business Officer Indus AppstoreWe will also continue to support the developer ecosystem by offering a levelplaying field that allows them to distribute and reach the right users with features built for the Indian regional and cultural context she addedFurther the Indus Appstores lifetime user base showed that Indias young population is a key driver of its successGenZ aged 1827 comprised 337 per cent of the user base and when combined with GenY aged 2744 it accounted for nearly 935 per cent of users under the age of 45The core Indus Appstore users in a tier3 location are generally males between 28 and 44 years old More than 70per cent of users belong to tier3 regions demonstrating strong rural and smallcity penetrationIndus Appstore also hosts several app categories with social media apps being the most popular nationwide followed by communication entertainment and finance apps IANS https://dailyworld.in/business/phonepes-indus-appstore-now-on-10-crore-devices-638797.html Tue, 16 Sep 2025 14:48:00 +0530 https://dailyworld.in/business/gst-rejig-a-major-push-towards-advancing-indias-climate-goals-centre-638800.html New Delhi Sep 16 In a significant development the GST rationalisation is set to provide a major push towards advancing Indias climate goals by making renewable energy waste management biodegradable products and green mobility more affordable and within reach the government said on Tuesday Moreover by cutting costs encouraging domestic manufacturing and supporting sustainable industries these changes will accelerate the adoption of clean energy and pollution control solutions it saidTo begin with GST on solar and wind devices has been reduced from 12 per cent to 5 per cent This includes solar cookers biogas plants solar powerbased devices solar power generators windmills windoperated electricity generator WOEG wastetoenergy plantsdevices solar lanternssolar lamps ocean wavestidal waves energy devicesplants and photovoltaic cells whether or not assembled in modules or made up into panelsThe reduction in GST will directly decrease the capital costs of solar panels PV cells wind turbines and related devices This reduction will enhance the viability of solar and wind projects leading to lower tariffs for end consumersThe GST rate cuts will bolster domestic manufacturing by supporting Indias solar cell and module manufacturing ecosystem under PLI schemes making domestic products more competitive against imports This will make solar pumps more affordable reducing irrigation costs and providing support to farmers according to the governmentThe installed capacity of solar energy in India has increased more than 42 times from 282 GW in 2014 to 11954 GW as of July 31 2025India has progressively continued the decoupling of economic growth from greenhouse gas emissions The emission intensity of Indias gross domestic product GDP has reduced by 36 per cent between 2005 and 2020Similarly GST on services provided by a common effluent treatment plant CETP has been reduced from 12 per cent to 5 per centReducing taxes on CETPs will motivate industries to use centralised waste treatment methods resulting in a pollutionfree environment and supporting sustainable development in industrial areas This will assist municipal corporations in implementing clean energy solutions for managing waste The GST cuts will create green jobs in areas like waste segregation plant operations and maintenance the government highlightedReduced GST on biodegradable bags from 18 per cent to 5 per cent makes them more affordable encouraging consumers and retailers to move away from singleuse plastics and thereby helping to decrease plastic pollutionThis supports Indias adherence to the Plastic Waste Management Rules 2022 and reinforces the ban on singleuse plastics It will promote investment in research and development and the expansion of biopolymers starchbased and compostable materials said the governmentAs many biodegradable bag producers are small and medium enterprises or startups the lower GST facilitates their market entry and increases demand it added IANS https://dailyworld.in/business/gst-rejig-a-major-push-towards-advancing-indias-climate-goals-centre-638800.html Tue, 16 Sep 2025 15:10:00 +0530 https://dailyworld.in/business/google-lays-off-over-200-ai-contractors-report-638802.html New Delhi Sep 16 Tech giant Google has reportedly laid off more than 200 contractors working on its artificial intelligence projects including Gemini and AI Overviews The move has raised concerns over job security low pay and possible retaliation against unionisation effortsAccording to a report by WIRED the layoffs took place in at least two separate rounds last month and were carried out with little or no prior warning Several contractors said they were suddenly cut off from their workI was just cut off said Andrew Lauzon a contractor who reportedly received an email on August 15 informing him that his contract had endedLauzon who joined Hitachiowned GlobalLogic in March 2024 had been working on training Googles Gemini chatbot and other AI toolsI asked for a reason and they said rampdown on the project whatever that means How are we supposed to feel secure in this employment when we know we could go at any moment he addedThe contractors many of whom reportedly hold advanced degrees such as masters and PhDs were part of a group known as super ratersThey were responsible for refining AIgenerated responses and making them sound more natural and accurateWorkers told WIRED that their role was critical in shaping Googles AI products including the AI Overviews feature that summarises search resultsWe as raters play an incredibly vital role said Alex a generalist rater employed by GlobalLogicThe engineers are not going to have the time to finetune and get the feedback they need for the bot Were like the lifeguards on the beach were there to make sure nothing bad happens Alex addedGoogle has reportedly denied direct responsibility for the job cuts stressing that the affected individuals were employed by GlobalLogic or its subcontractorsThese individuals are employees of GlobalLogic or their subcontractors not Alphabet Google spokesperson Courtenay Mencini was quoted as sayingAs the employers GlobalLogic and their subcontractors are responsible for the employment and working conditions of their employees Mencini addedThe reported layoffs come at a time when Google is investing heavily in AI to keep pace with competitors like OpenAI and Microsoft IANS https://dailyworld.in/business/google-lays-off-over-200-ai-contractors-report-638802.html Tue, 16 Sep 2025 15:12:00 +0530 https://dailyworld.in/business/indias-chemicals-sector-leads-globally-with-28-pc-returns-report-638803.html New Delhi Sep 16 Indias chemicals industry has become the global leader in value creation achieving a fiveyear total shareholder return TSR of 28 per cent from 2020 to 2024 significantly higher than the global average of 7 per cent a report said on Tuesday Indias chemicals outperformance was driven by resilient domestic demand targeted policy support and improved investor sentiment that lifted valuation multiples according to the report from Boston Consulting GroupAgrochemical exports and its domestic demand along with speciality segments like pharmaceutical ingredients personal care and engineered materials significantly contributed to the outperformance The returns from fertilisers were primarily driven by domestic demand the report notedIndian firms in focused specialties achieved a return of 33 per cent TSR while fertilisers recorded 32 per cent returns both significantly exceeding global averages TSR represents the percentage increase in a companys value stock price plus dividends over a given period Regionally emerging market chemical companies were the strongest performers overall delivering average fiveyear TSR of 12 per centThe outperformance was driven by revenue and profit growth as well as higher PE multiples supported by strong domestic demand said Amit Gandhi Managing Director amp Senior Partner BCG IndiaThe next phase of advancement depends on how Indian companies choose to scale over the next five years whether by strengthening existing value chains or by venturing into new ones he addedBCG reported that companies focussing on commercial excellence disciplined capital allocation and portfolio quality are positioned to maintain this momentumChemical products were among the top five industries that contributed to GVA growth of the country in FY 24 along with basic metals motor vehicles chemical products food products and pharmaceuticalsOver 5500 farmer collectives are licensed to distribute fertilisers More than 400 FPOs operate dealerships for agrochemical distribution ensuring that dealer discounts are passed on to member farmers IANS https://dailyworld.in/business/indias-chemicals-sector-leads-globally-with-28-pc-returns-report-638803.html Tue, 16 Sep 2025 15:36:00 +0530 https://dailyworld.in/business/campus-hiring-sentiment-improves-as-73-pc-indian-firms-expect-growth-638818.html New Delhi Sep 16 The outlook for campus hiring in India has brightened with 73 per cent of organisations expecting moderate to high business growth a new report said on Tuesday The data compiled by Aon notes that optimism is strongest in sectors such as financial services life sciences and consumer goods and is translating into a stronger intent to hire fresh graduates compared to 2024The Campus Study Report 202526 based on responses from over 220 organisations shows that sectors like information technology industrials materials and healthcare are also driving demandMore than 40 per cent of companies surveyed plan to expand their workforce by over 10 per cent in FY26 pointing to a wider job market recovery even as global economic challenges persist the report saidDespite this rebound in hiring sentiment compensation growth for fresh graduates remains modestMBA and engineering graduates have seen only slight increases in their total cost to company TCC with the rise largely fuelled by joining bonuses and performancelinked pay rather than fixed salary hikesOrganisations are focusing on incentivisation with variable pay ranging from 10 to 12 per centThe report found that 67 per cent of employers provide shortterm incentives to MBA graduatesIndias campus hiring is evolving said Roopank Chaudhary partner and head of data solutions for Aon in IndiaOrganisations are moving from mass recruitment to focusing on candidates with the right skills early engagement and longterm retention Chaudhary statedThe report also underscores a growing focus on workplace culture and diversity More than half of the organisations surveyed believe culture alignment directly impacts performance and nearly 90 per cent now assess cultural fit during hiringGender diversity has also become a priority with half of the firms setting gender ratio targets across talent poolsOver 30 per cent of employers are even expanding beyond their usual list of colleges to achieve these targets as per the reportCampus hiring is no longer just about filling roles its about shaping the future of the organisation said Saachi Verma associate director of Talent Solutions for India at Aon and lead author of the reportVerma stressed that building a strong learning and development programme along with a compelling employee value proposition will be key to attracting and retaining top talent IANS https://dailyworld.in/business/campus-hiring-sentiment-improves-as-73-pc-indian-firms-expect-growth-638818.html Tue, 16 Sep 2025 16:31:00 +0530 https://dailyworld.in/business/russias-trade-representation-to-be-official-partner-of-9th-lng-india-summit-2025-638827.html New Delhi Sep 16 The Trade Representation of Russia in India is the official partner of the 9th LNG India Summit 2025 to be held here on September 2425 The international oil and gas event dedicated to LNG liquefied natural gas sector cooperation is being organised by the Indian branch of Messe FrankfurtFor Russian companies participation offers direct dialogue opportunities with Indian ministries and regulatory bodies major market players and insight into potential supply prospects and joint projects in LNG imports terminal construction and the delivery of equipment technologies and services the Russian Embassy said in a statementThe 9th LNG India Summit 2025 is one of the key international platforms for knowledge exchange and business networking in the LNG sector It covers strategic areas of the Indian LNG market development government regulation infrastructure transportation solutions and industrial applicationsThe summit programme includes panel discussions featuring executives of top industry players topics on infrastructure projects cooperation in smallscale LNG expansion of urban gas distribution networks and the shift to lowcarbon fuelsApart from oil Russia is also a large producer of natural gas The most prominent Russian gas company is Gazprom a majority stateowned multinational energy corporation that is the largest company in Russia and the worlds largest gas producer with vast gas reserves and extensive involvement in exploration production transportation and sales of natural gas and oil Other significant Russian oil and gas companies include Novatek a major player in LNG production and Rosneft and Lukoil which are also large stateowned and private energy firms respectivelyRussia is substantially increasing its gas exports to China via the Power of Siberia pipeline and plans to build the Power of Siberia 2 which will add 50 billion cubic metres of annual capacity through MongoliaChina is Russias biggest purchaser of natural gas with exports expected to reach 38 billion cubic metres bcm this year via the existing pipeline and a separate Far Eastern route deal for an additional 10 bcm by 20262027 IANS https://dailyworld.in/business/russias-trade-representation-to-be-official-partner-of-9th-lng-india-summit-2025-638827.html Tue, 16 Sep 2025 17:08:00 +0530 https://dailyworld.in/business/pakistans-digital-economy-plunges-into-deep-crisis-as-online-financial-frauds-soar-638830.html New Delhi Sep 16 Pakistans digital economy has plunged into a deep crisis of cyber scams data breaches and online financial fraud with scammers leveraging online banking platforms and deceptive investment schemes to cheat unsuspecting users according to a report The scale of the problem is staggering Between 2020 and 2024 the Federal Investigation Agency FIA received over 722000 cybercrime complaints Yet fewer than 10 per cent were formally investigated and a mere 152 cases led to convictions In 2024 alone more than 13000 complaints of online financial fraud resulted in 1212 arrests but only 17 verdicts were delivered These figures reveal not just inefficiency but a systemic collapse in justice and deterrence according to the report in Islam Khabar by Khaalid HanifThe financial sector continues to absorb the shock In Q1 2024 the State Bank of Pakistan SBP imposed fines exceeding PKR 776 million on eight major banks for lapses in antimoney laundering customer due diligence and fraud risk protocols The Banking Mohtasib resolved nearly 28000 digital fraud complaints in 2024 with PKR 165 billion in restitution Yet these recoveries are dwarfed by the scale of unrecovered losses and the erosion of consumer confidence said the reportThe report further states that digital fraud has evolved into organised industrialscale crime In July 2025 the National Cybercrime Investigation Agency NCCIA dismantled a massive Ponzi scheme operating out of a Faisalabad call center arresting 149 suspects including foreign nationals Meanwhile the Securities and Exchange Commission of Pakistan SECP flagged 141 illegal lending apps exploiting platforms like Facebook and WhatsApp many of which reappear under new names even after regulatory takedownsIt cites the Pakistan Cybersecurity Councils 2024 report which highlights that over 60 per cent of Pakistani companies fail to implement basic cybersecurity protocols such as encryption and multifactor authentication International institutions have taken noteDespite legislative efforts including the Prevention of Electronic Crimes Act PECA 2016 the National Cybersecurity Policy 2021 and the establishment of the Digital Rights Protection Authority DRPA in 2025 Pakistans response remains fragmented Jurisdictional overlaps and turf wars between the FIA and NCCIA have created confusion over investigative primacy further weakening enforcementWith only 350 cybercrime investigators in the country handling over 160000 cases each officer has to handle an average of 6000 complaints annually Some provinces have just two digital locators and five forensic vehicles The judiciary too is illequipped lacking technical training specialised benches and clarity on digital evidence interpretation The result is a justice system unable to keep pace with the complexity and volume of cybercrime the report statesPakistans digital infrastructure is equally vulnerable The PTAs Cybersecurity Report 202425 recorded a 17 per cent rise in attacks on critical systems with phishing incidents surging by 173 per cent globally and mirrored domestically While the CTDISR2025 introduced commendable security protocols compliance remains uneven and largely confined to major telecom operators Sectoral CERTs for banking and government are still embryonic and incident response remains underresourced the report added IANS https://dailyworld.in/business/pakistans-digital-economy-plunges-into-deep-crisis-as-online-financial-frauds-soar-638830.html Tue, 16 Sep 2025 17:11:00 +0530 https://dailyworld.in/business/s-korea-launches-probe-into-purported-attempt-to-sell-sk-telecom-client-data-638832.html Seoul Sep 16 The science ministry said on Tuesday it has launched an official probe into a purported attempt to sell personal data allegedly leaked from South Koreas top mobile carrier SK Telecom Co The move came after a global hacking group Scattered Lapsus posted on its Telegram channel that it would sell SK Telecoms client data for US10000 adding that 42 South Koreans had already made contact reports Yonhap news agencyAfter being aware that a global hacking group has seized SK Telecoms client data and is seeking to sell it we requested the mobile carrier to submit related materials and plan to check the facts through onsite inspections the Ministry of Science and ICT saidThe group claimed the data includes customers IDs names phone numbers emails addresses and birth datesThe group also threatened SK Telecom saying it must engage in negotiations or all of the 27 million users data would be releasedThe company reported in April that private data of its entire user base may have been leaked in a cyberattack on its network serversThe government also recently launched a probe against No 2 mobile carrier KT Corp which reported a total of 278 cases of unauthorized mobile payments worth 170 million won 122000 raising concerns over a possible leak of customer dataThe publics concern over the recent series of data breaches is growing an official from the ministry said We plan to quickly check facts regarding related allegations and open the result to the public transparentlySK Telecom meanwhile said the batch of client data that the hacking group claims to be selling has never been leaked suggesting the attempted sale is very likely a scamAfter analysing sample data website screenshots and file transfer protocol screens posted on the dark web we concluded that all of the information is fake and the website does not exist within our companys system an SK Telecom official saidThe 100 GB worth of data as claimed by the hackers was never leaked the official addedCiting a report submitted by the Korea Internet amp Security Agency Rep Choi Soojin of the main opposition People Power Party said the hacking group also put the source code for SK Telecoms internal software up for sale for 250000The hacking group maintained it has programmes to intercept text messages and track phone calls in real time as well while SK Telecom denied such claims IANS https://dailyworld.in/business/s-korea-launches-probe-into-purported-attempt-to-sell-sk-telecom-client-data-638832.html Tue, 16 Sep 2025 17:43:00 +0530 https://dailyworld.in/business/indias-cement-sector-to-see-7-pc-annual-demand-growth-over-next-three-years-report-638840.html New Delhi Sep 16 Indias cement industry will see around 7 per cent annual demand growth for next three years a report said on Tuesday HSBC Global Research expressed a positive outlook on the countrys cement industry saying that FY26 will be the peak of capacity additions in the current market cycleThe top four players now hold 57 per cent of the market the report mentioned HSBC anticipates that this consolidation will enhance pricing powerCement prices are expected to increase starting in November driven by high leverage among smaller competitors and larger companies not being to afford a price war due to similar leveraged position the brokerage saidHSBC projected EBITDA per ton to grow at a 13 per cent CAGR over FY2528e supported by average selling prices per ton rising 36 per cent in FY26 25 per cent in FY27 and 21 per cent in FY28Demand decreased significantly to approximately 3 per cent in FY25 following three years of robust growth the report saidWe expect a recovery in 2HFY26 and believe that a combination of a large base and steady government capex will see demand growth normalise in the 67 per cent range annually over the next three years the brokerage addedRisks involve a sharp decline in government capex which it feels unlikely to occur and a slowdown in housingAnalysts had earlier predicted that cement companies stand to gain as GST cut from 28 per cent to 18 per cent could reduce cement prices by about 78 per centMeanwhile in July this year a report by BNP Paribas India said that the demand in the Indian cement sector is expected to rebound to 78 per cent in FY26 and to grow by 6 per cent CAGR over FY2629 on structural factors IANS https://dailyworld.in/business/indias-cement-sector-to-see-7-pc-annual-demand-growth-over-next-three-years-report-638840.html Tue, 16 Sep 2025 18:24:00 +0530 https://dailyworld.in/business/gujarat-court-issues-notices-to-abhisar-sharma-raju-parulekar-on-adani-groups-defamation-complaints-638844.html Ahmedabad Sep 16 The Adani Group has filed criminal defamation complaints against YouTuber Abhisar Sharma and blogger Raju Parulekar accusing them of deliberately spreading false and defamatory content to malign its reputation A Gujarat court has issued notice to both accused directing them to appear on September 20 If admitted the cases may proceed to trial where both face penalties of up to two years imprisonment fines or bothThe cases filed before the Judicial Magistrate First Class Gandhinagar PS Adalaj invoke Sections 3561 3562 and 3563 of the Bharatiya Nyaya Sanhita BNS 2023 equivalent to IPC Sections 499 500 and 501The complaints point to a YouTube video uploaded on August 18 2025 by Sharma alleging thousands of bighas of land in Assam had been allotted to Adani and tying the company to a pattern of supposed political favours as well as to a series of tweets and retweets by Parulekar since January 2025 making similar claims of land grabs scams and undue benefitsIn both instances Adani says the allegations were baseless and misleading given that the Gauhati High Court order of August 12 2025 which they cited makes no reference to the Adani GroupThe company has also clarified that Mahabal Cement Pvt Ltd the firm at the centre of the High Court case has no connection with Adani in any mannerEvidence placed before the court includes the Sharma video and transcript Parulekars social media posts the Gauhati High Court order and supporting records IANS https://dailyworld.in/business/gujarat-court-issues-notices-to-abhisar-sharma-raju-parulekar-on-adani-groups-defamation-complaints-638844.html Tue, 16 Sep 2025 18:27:00 +0530 https://dailyworld.in/business/indias-tyre-industry-expected-to-grow-12-times-to-rs-130-lakh-crore-by-2047-report-638848.html New Delhi Sep 16 Due to a resilient original equipment manufacturer OEM base acceleration in vehicle exports and replacement demand Indias tyre industry revenue is expected to grow 12 times to Rs 130 lakh crore by 2047 a report said on Tuesday The industrys production volume would expand approximately 4 times during the periodThe sharp rise in revenue growth is attributed to a change in the tyre industrys revenue mix premiumization increase in raw material prices growing share of exports electrification and servitisation a joint report by the Automotive Tyre Manufacturers Association ATMA and PwC India saidIndias journey towards Viksit Bharat 2047 presents a huge opportunity for the tyre industry not only to meet the aspirations of its domestic customer base but also to exponentially scale up tyre exports especially in the commercial vehicle and passenger vehicle segments across key markets like the US and EU said Kavan Mukhtyar Partner and Leader Automotive PwC IndiaEmerging consumer trends and mobility shifts a dynamic global business environment and sustainability imperatives present a unique opportunity for the Indian tyre industry to transform itself and drive sustainable growth through 2047 he addedAccording to the report robust passenger vehicle PV and twowheeler 2W sales led by improving per capita income rising commercial vehicle CV sales led by strong infrastructure spending and consumption demand are expected to drive OEM tyre demandIncreased people mobility and freight availability are expected to support replacement tyre demandAdditionally adopting exportcentric growth strategies supported by market and use casespecific innovations improved market access through newer free trade agreements improved cost competitiveness and brand positioning especially in PV and CV tyre segments will be among the key factors aiding the acceleration of exportsEnsuring sustained and costcompetitive availability of natural rubber a dynamic regulatory environment and nontariff barriers will be among the key challenges for the growth of exportsThe Indian Tyre Industry stands at the cusp of a transformational journey driven by rapid economic growth evolving mobility trends and an expanding global footprint said Arun Mammen Chairman Automotive Tyre Manufacturers Association ATMAThis growth will be fueled by a shift towards premiumisation sustainabilityled innovation and a strong focus on technology and exports As we move towards Viksit Bharat 2047 the Tyre Industry is poised to play a pivotal role in enabling Indias automotive ambitions to build a resilient and futureready sector he addedIncreased recognition of the importance of managing tyre health end customer demand for TPMSready fleets etc is likely to drive demand for services like professional periodic tyre management tyre advisory and optimal fleet management solutionsTyre companies will need to find an economically viable solution to scale and manoeuvre data security and regulatory issues to reach servitisation potential the report highlighted IANS https://dailyworld.in/business/indias-tyre-industry-expected-to-grow-12-times-to-rs-130-lakh-crore-by-2047-report-638848.html Tue, 16 Sep 2025 19:06:00 +0530 https://dailyworld.in/business/banas-dairy-election-counting-on-october-11-contest-heats-up-638850.html Palanpur Sep 16 The schedule for the election of Asias largest dairy cooperative Banas Dairy was announced on Tuesday setting the stage for a highstakes political battle Counting of votes is slated for October 11This year too speculation is rife about a rival panel taking shape adding to the political heat around the prestigious cooperative A flurry of meetings between political leaders and cooperative heavyweights has already begun making the contest more intriguingObservers said the election is drawing unprecedented attention with political strategists dairy stakeholders and members showing visible enthusiasm The outcome of the Banas Dairy polls often carries wider political significance in North GujaratThe election schedule for Banas Dairy has been announced Nomination forms can be filed between September 16 and 22 followed by the scrutiny of nominations on September 23The list of valid nominations will be released on September 24 while September 29 has been fixed as the last date for withdrawal of forms The final list of contesting candidates will be declared on September 30 and the counting of votes will take place on October 11With campaigning expected to intensify in the coming days the Banas Dairy election is once again shaping up to be a closely watched political event in Gujarats cooperative sectorBanas Dairy headquartered in Palanpur Banaskantha district of Gujarat is Asias largest milk producers cooperative and a key member of the Gujarat Cooperative Milk Marketing Federation GCMMFEstablished in 1969 Banas Dairy was created to strengthen the cooperative movement envisioned by Verghese Kurien under the White Revolution ensuring fair returns for farmers while building a robust supply chain for milk and dairy productsStarting with just a few thousand litres of milk per day the cooperative has grown exponentially collecting over 90 lakh litres of milk daily from more than 15 lakh farmers spread across Banaskantha and neighbouring districtsToday Banas Dairy operates modern processing plants in Palanpur Faridabad Kanpur Lucknow and Varanasi producing milk butter ghee ice cream cheese and packaged products It has also diversified into cattle feed bakery products and valueadded dairy items further strengthening its revenue streamsFinancially Banas Dairy is a giant in Indias cooperative sector with an annual turnover exceeding Rs18000 crore 202324 figures making it a crucial economic engine not only for North Gujarat but also for the states rural economy Its rise from a modest district dairy union to an industry leader reflects the success of Gujarats cooperative model and its ability to empower millions of farmers through collective growth IANS https://dailyworld.in/business/banas-dairy-election-counting-on-october-11-contest-heats-up-638850.html Tue, 16 Sep 2025 19:08:00 +0530 https://dailyworld.in/business/poco-launches-unbeatable-5g-smartphone-deals-for-flipkart-big-billion-days-sale-2025-638853.html New Delhi Sep 16 POCO India one of the countrys fastestgrowing consumer technology brands on Tuesday announced the muchawaited festive pricing for its popular smartphones as part of Flipkarts Big Billion Days Sale 2025 With the POCO festive MADness campaign the brand is set to deliver flagship innovation at neverbefore prices making this festive season truly special for tech enthusiasts across IndiaThe sale will go live with exclusive early access for Flipkart Plus and Black members on September 22 followed by the fullscale launch for all consumers on September 23 These includePOCO M7 5GThe POCO M7 5G is the segments fastest 5G smartphone featuring up to 12 GB RAM including 6 GB turbo RAM a powerful Snapdragon 4 Gen 2 chipset a 50MP Sony camera and a large 688 HD display for an immersive entertainment experiencePOCO M7 5G with the launch price of Rs 10499 will be available at a 17 per cent discount of Rs 8699POCO M7 Plus 5GThe POCO M7 Plus 5G a powerhouse with the largestinsegment 7000mAh battery 18 W Reverse charging 69 FHD display with up to 144Hz refresh rate is now launching in a new 4GB RAM variantPriced at Rs 12999 the smartphone will be available at a 15 per cent discount of Rs 10999POCO X7 Pro 5GThe segments most powerful phone clocking over 17Million Antutu score which comes with MediaTek Dimensity 8400 Ultra Chipset and 6550mAh Silicon Carbon battery with 90W fast charger for the power usersOriginally priced at Rs 27999 the smartphone can be availed for Rs 19999 with a 29 per cent discountPOCO F7 5GEngineered for performance seekers the POCO F7 5G delivers flagshiplevel power with Indias largest 7550mAh siliconcarbon battery and the cuttingedge Snapdragon 8s Gen 4 processorWith an impressive AnTuTu score of over 21 million it offers seamless multitasking fast app launches and ultrasmooth performance across work entertainment and everything in between making it the ideal choice for users who demand more from their smartphones The smartphone priced at Rs 31999 will be available for Rs 28999 at a 9 per cent discountOther models include POCO C71 Airtel which will be available for Rs 5599 at a 14 per cent discount from the original price of Rs 6499 POCO C71 for Rs 6299 at a discount of 3 per cent original price Rs 6499 POCO C75 for Rs 7399 at a price discount of 13 per cent original price Rs 8499While POCO M7 5G Airtel priced at Rs 10499 can be availed at Rs 7999 at a discount of 24 per cent POCO M7 Pro 5G can be brought at Rs 11499 for a discount of 23 per cent original price Rs 14999 and POCO X7 5G at Rs 14499 with a discount of 34 per cent original price Rs 21999Users can also get massive discounts and extra savings with bank offers up to 2000 with HDFC Axis and ICICI credit and debit cards and exchange offers plus nocost EMIWith unmatched performance cuttingedge innovation and festivefirst pricing POCO is ensuring Indias young techsavvy generation has more reasons to celebrate this Big Billion DaysWith this announcement POCO is fuelling excitement among Indias young techsavvy consumers and ensuring that the 2025 Big Billion Days Sale is one to rememberFlipKart Link httpswwwflipkartcompocobbdintrigue2025atstore IANS https://dailyworld.in/business/poco-launches-unbeatable-5g-smartphone-deals-for-flipkart-big-billion-days-sale-2025-638853.html Tue, 16 Sep 2025 19:10:00 +0530 https://dailyworld.in/business/sebi-extends-settlement-scheme-deadline-to-oct-16-for-brokers-in-algo-trading-case-638866.html New Delhi Sep 16 Markets regulator SEBI on Tuesday said that it has given stock brokers more time to settle cases linked to unregulated algo trading platforms The regulator extended the deadline for its special settlement scheme to October 16The scheme was launched in June this year and was earlier set to close on September 16Observed that during the last few days a number of entities have shown interest in availing the scheme Considering the interest of entities in availing the scheme the competent authority has extended the period of the Scheme till October 16 2025 the market regulator mentionedIt offers brokers who were associated with certain unregulated algo platforms a chance to settle their pending cases with SEBIThese cases are currently being heard before different authorities including the Adjudicating Officer the Securities Appellate Tribunal and even the courtsThe market regulator said many brokers had shown interest in the scheme in recent days which prompted the decision to extend the window by a monthBy opting for this scheme brokers can resolve proceedings more quickly and bring their cases to a closeHowever SEBI clarified that brokers who do not take advantage of this opportunity will continue to face action under the lawMeanwhile the market regulator announced a series of regulatory changes after its board meeting last week including a major relaxation in minimum public shareholding MPS norms for large companies planning initial public offerings IPOsAccording to SEBIs release on September 12 companies with a market capitalisation of Rs 50000 crore to Rs 1 lakh crore will now get more time to meet the public shareholding requirementsThey will be required to achieve 15 per cent MPS within five years of listing and 25 per cent within 10 years IANS https://dailyworld.in/business/sebi-extends-settlement-scheme-deadline-to-oct-16-for-brokers-in-algo-trading-case-638866.html Tue, 16 Sep 2025 20:51:00 +0530 https://dailyworld.in/business/indias-ftas-with-other-nations-cushion-threat-from-us-tariffs-in-gems-amp-jewellery-exports-638870.html New Delhi Sep 16 Indias overall gross exports of gems amp jewellery recorded a 512 per cent growth to 212 billion Rs 1852908 crore in August this year compared to the corresponding figure of 201 billion Rs 1689604 crore for the same period of the previous year according to data released by the Gems and Jewellery Export Promotion Council GJEPC on Tuesday While the primary growth trigger is the rush among Indian exporters to minimise the impact of the US tariff threat other positive elements including Free Trade Agreements FTAs such as IndiaUAE comprehensive economic partnership agreement CEPA and reduced duties on imports of raw materials have also played a pivotal role according to a GJEPC statementOn the other hand the overall gross imports of gems amp jewellery at 147185 million Rs 1288718 crore in August posted a growth of a mere 077 per cent compared to 146056 million Rs 1225384 crore for the same period of the previous year This rise is marginal in nature and reflects a steady demand for raw and semifinished products back in the home country to support production for the upcoming holiday season internationally as well as domestic festive demand the statement saidThe overall gross export of cut amp polished diamonds at 97229 million in August declined by 629 per cent compared to 103759 million for the same period of the previous year The decline in exports of cut and polished diamonds during the month can be attributed to the rising affinity towards yellow metal in the US and Europe where sluggish spending on luxury items caused overall demand to fall according to the GJEPC statementRetailers across major markets are also witnessing a slump in sales inflating the unsold inventory which has slowed down new purchases The continued increase in the global demand for labgrown diamonds on the backdrop of being environmentally friendly and costeffective has also eaten up some share of natural diamonds from the demand pieThe total export of plain gold jewellery jumped by over 63 per cent to 41951 million in August from 25699 million in the same month of the previous year The robust growth seen in plain gold jewellery exports during August 2025 was supported by strong demand in key markets particularly the Middle East and the US in the context of festive and wedding purchases particularly strengthened by the IndiaUAE CEPAA worldwide consumer interest in buying lightweight and everyday wear led to orders being stimulated as did international retail stock builds before festive and wedding buying later this year Furthermore government policy support such as cuts in customs duties and facilitation of trade has made Indian exports more competitive in international markets the report addedKama Jewellery MD Colin Shah said The Indian gems amp jewellery sector is evolving with sheer agility to absorb the jitters of US tariffs and economic uncertainty it has created There were strong numbers in August showing growth and density of exports to international markets highlighting the rush among the exporters community to conduct trade early and get saved from the tariffsParallelly fresh opportunities as close alternatives to the US due to trade deals such as those with the UAE and consumers are increasingly gravitating toward sustainable premium and custom jewellery Highly priced gold global volatility and volatile metal markets are persistent challenges but coming out of the upcoming festive and wedding season will bring new energy to the sector he added IANS https://dailyworld.in/business/indias-ftas-with-other-nations-cushion-threat-from-us-tariffs-in-gems-amp-jewellery-exports-638870.html Tue, 16 Sep 2025 21:43:00 +0530 https://dailyworld.in/business/coal-minister-kishan-reddy-launches-new-uniform-corporate-salary-package-for-coal-india-workforce-638874.html New Delhi Sep 16 Union Minister of Coal and Mines G Kishan Reddy on Tuesday launched the new uniform corporate salary package CSP and enhanced exgratia benefits for the Coal India workforce The Corporate Salary Package which was introduced with the slogan Suraksha Har Karmchaari Ki United in Security Empowered for the Future represents a major improvement in the financial stability of Coal Indias workforceIt is a forwardthinking financial initiative that aims to provide modern safe and easy banking services to all coal workers and their familiesWith 215 lakh regular employees and 44000 contract workers already enrolled in the programme the package offers Rs 1 crore personal accident insurance coverage for regular employees and Rs 40 lakh for contract workersIn order to ensure broad access and effective benefit delivery it has been implemented through Memorandums of Understanding with ten top public sector banks as well as the Chhattisgarh State Gramin BankIt is a truly welfareoriented programme because employees are not obliged to pay any premiums and the benefits are given directly through partner banksIn addition to these welfare initiatives the new uniform was introduced to foster a culture of safety professionalism and a sense of shared identity among Coal India workersFrom field projects and administrative offices to underground and openpit mines the uniform embodies the Coal India familys unity pride and dignity strengthening a sense of unity and belonging among employeesUnder the guidance of the Ministry of Coal these initiatives have been meticulously designed and implemented with a strong focus on improving the dignity safety and welfare of coal workersTogether they present a comprehensive approach to strengthen the identity of employees enhance financial security and reinforce social protection across all levels from underground and opencast mines to administrative offices reaffirming Coal Indias commitment to inclusive growth and workforcecentric policiesThese measures are firmly aligned with Prime Minister Shri Narendra Modis vision of prioritising Workers First and Workers WelfareCoal India as part of its We Care initiative has increased the ex gratia amount payable in the unfortunate event of mine accident fatalities from Rs 15 lakh to Rs 25 lakhThis enhanced compensation applies equally to regular employees and contract workers and will be paid directly to the families of the deceased ensuring timely and transparent delivery of supportWhile Zero Harm remains the mission the enhanced ex gratia reflects Coal Indias resolve to act swiftly and with compassion when a loss occurs and to stand firmly with the families affected IANS https://dailyworld.in/business/coal-minister-kishan-reddy-launches-new-uniform-corporate-salary-package-for-coal-india-workforce-638874.html Tue, 16 Sep 2025 22:45:00 +0530 https://dailyworld.in/business/indias-maritime-sector-set-to-attract-rs-80-lakh-crore-investment-create-15-crore-jobs-sonowal-638888.html Kochi Sep 16 India is set to attract investments worth Rs 80 lakh crore and generate over 15 crore jobs under the Maritime Amrit Kaal Vision as the government is harnessing the power of the countrys coasts and waterways with ambitious investments to build the countrys Blue Economy Union Minister for Ports Shipping and Waterways Sarbananda Sonowal said on Tuesday Addressing a maritime conclave here he pointed out that the governments flagship Sagarmala programme is driving this change with 840 projects worth Rs 58 lakh crore under implementation by 2035 Already 272 projects worth Rs 141 lakh crore have been completed The upcoming Rs 76000crore Vadhavan Port in Maharashtra envisioned among the top 10 container ports globally is projected to create 12 lakh jobs Meanwhile Indias major ports have reduced turnaround time to 09 days faster than global benchmarks in the US Germany and Singapore Nine Indian ports are now ranked among the worlds top 100Sonowal said that Indias maritime sector is undergoing a transformative shift positioning the nation as a future global maritime superpowerHighlighting the governments policy environment for the swift implementation of PM Narendra Modis maritime vision the minister said Our policy reforms are shaping an investorfriendly environment With this spirit after extensive stakeholder consultations in the spirit of cooperative federalism we recently enacted 5 landmark legislations forever altering the maritime landscape of the nation establishing a strong business and environmentfriendly globally aligned legislative frameworkWith the Rs 25000 crore Maritime Development Fund MDF our government has incentivised shipbuilding given infrastructure status to large vessels and provided tonnage tax benefits for inland vessels Together these are boosting competitiveness and global alignment he saidFrom No Vision of the UPA regime Prime Minister Modi has given us two Grand Visions The Maritime India Vision 2030 and the Maritime Amrit Kaal Vision 2047 These vision documents have shaped our strategy and planning to spruce up the sector and empower it to become a force multiplier towards propelling the Indian economy to become Viksit Bharat Sonowal saidHe further stated that Kerala has emerged as a key driver of this maritime resurgence The Vizhinjam International Seaport operational since 2024 is Indias first fully automated transhipment hub and has already handled 106 lakh TEUs and nearly 500 ships Cochin Shipyard builder of INS Vikrant is expanding its global footprint in shipbuilding amp repairOn the key role that Kerala plays in Indias ambition of becoming a global maritime power Sonowal said Kerala anchors Indias vision of becoming a maritime superpower by 2047 The Cochin Port and its Vallarpadam transhipment terminal are set for further expansion to accommodate rising cargo flows Under Sagarmala 54 projects worth Rs 24000 crore are being executed in Kerala of which 20 are already complete These include modernised fishing harbours at Kochi Kannur and Thrissur providing direct benefits to thousands of fishermen All of this and more are aimed at harnessing the states maritime potential as well as unlocking opportunities to further the larger goal of maritime excellenceThe Kochi Water Metro Asias largest integrated water transport system is revolutionising urban connectivity with 78 electrichybrid vessels connecting 10 island communities Keralas waterways are also being developed as economic corridors National Waterway 3 and the International Cruise Terminal in Kochi have unlocked tourism and logistics opportunities with the terminal welcoming 105 cruise ships and 14 lakh passengers in just three years he saidWith India Maritime Week 2025 scheduled in Mumbai this October the government anticipates stronger international partnerships and fresh investment inflows Sonowal urged global stakeholders to deliberate on issues such as decarbonisation supply chain resilience cybersecurity and sustainable shipping IANS https://dailyworld.in/business/indias-maritime-sector-set-to-attract-rs-80-lakh-crore-investment-create-15-crore-jobs-sonowal-638888.html Tue, 16 Sep 2025 23:55:00 +0530 https://dailyworld.in/business/adani-enterprises-to-build-sonprayag-kedarnath-ropeway-project-for-rs-4-081-crore-638711.html Ahmedabad Sep 15 Adani Enterprises Ltd AEL on Monday said it has received Letter of Award LoA from the National Highways Logistics Management Ltd NHLML for building the prestigious ropeway project connecting Sonprayag with Kedarnath for a total investment of Rs 4081 crore The companys first ropeway project to be completed in six years will be executed by AELs Roads Metro Rail and Water RMRW divisionOnce operational the 129 km ropeway project will reduce travel time from an arduous 9hour trek to just 36 minutes making the pilgrimage far easier and saferThe ropeway will be able to carry 1800 passengers per hour per direction serving lakhs of pilgrims each year Kedarnath witnesses around 20 lakh pilgrims annually highlighting the importance of this project according to the flagship incubator of the Adani PortfolioThe ropeway is part of the National Ropeways Development Programme Parvatmala PariyojanaDeveloped on a PublicPrivate Partnership PPP basis the project will take six years to complete and AEL will operate it for 29 years after construction Along with improving connectivity the project is expected to create jobs and boost tourism in the regionThe Kedarnath ropeway is more than an engineering project it is a bridge between devotion and modern infrastructure said Gautam Adani Chairman of the Adani GroupBy making this sacred journey safer faster and more accessible we honour the faith of millions while creating new opportunities for Uttarakhands people through our partnership with NHLML and the Government of Uttarakhand This prestigious project reflects our commitment to building infrastructure that not only serves the nation but also uplifts its people Gautam Adani notedOver the years Adani Enterprises has focused on building emerging infrastructure businesses contributing to nationbuilding and divesting them into separate listed entitiesThe next generation of its strategic business investments are centred on the green hydrogen ecosystem airport management data centre roads and primary industries like copper and petrochem all of which have significant scope for value unlocking IANS https://dailyworld.in/business/adani-enterprises-to-build-sonprayag-kedarnath-ropeway-project-for-rs-4-081-crore-638711.html Tue, 16 Sep 2025 00:15:00 +0530 https://dailyworld.in/business/itr-filing-deadline-extended-by-a-day-to-sep-16-638715.html New Delhi Sep 16 The Central Board of Direct Taxes has decided to further extend the due date for filing the Income Tax Returns ITRs for Assessment Year AY 202526 from September 15 Monday to September 16 Tuesday a notification read Taking to X late on Monday night Income Tax India which is the official account of the Income Tax Department wrote KIND ATTENTION TAXPAYERS The due date for filing of Income Tax Returns ITRs for AY 202526 originally due on 31st July 2025 was extended to 15th September 2025The Central Board of Direct Taxes has decided to further extend the due date for filing these ITRs for AY 202526 from 15th September 2025 to 16th September 2025 To enable changes in the utilities the efiling portal will remain in maintenance mode from 1200 AM to 0230AM on 16th September 2025Earlier the Income Tax Department on Monday said that over 7 crore income tax returns have already been filed for the AY 202526 as the deadline of September 15 drew to a closeIn a post on social media platform X the Department thanked taxpayers and tax professionals for helping achieve this milestone and urged those who have not yet filed their returns to do so at the earliestMore than 7 crore ITRs have been filed so far and still counting We extend our gratitude to taxpayers and tax professionals for helping us reach this milestone and urge all those who havent filed ITR for AY 202526 to file their ITR it saidThe Department also reassured taxpayers that help is available roundtheclock for filing returns making tax payments and availing other related servicesOur helpdesk is functioning on a 24x7 basis and we are providing support through calls live chats WebEx sessions amp TwitterX it addedThe clarification comes a day after the Department dismissed rumours of another extension of the deadlinePreviously on Sunday it had termed reports of the due date being pushed to September 30 as fake news reiterating that September 15 remains the final dateA fake news is in circulation stating that the due of filing ITRs originally due on 31072025 and extended to 15092025 has been further extended to 30092025 the Department said on SundayThe due date for filing ITRs remains 15092025 Taxpayers are advised to rely only on official IncomeTaxIndia updates the Department further statedEarlier in May the government had already extended the deadline for nonaudit cases from July 31 to September 15 for AY 202526With the surge in ITR filings the Department said the rising numbers reflect stronger tax compliance and the expanding base of taxpayers in the country IANS https://dailyworld.in/business/itr-filing-deadline-extended-by-a-day-to-sep-16-638715.html Tue, 16 Sep 2025 00:46:00 +0530 https://dailyworld.in/business/nifty-sensex-open-flat-as-investors-wait-for-fresh-cues-us-fed-meet-outcome-638567.html Mumbai Sep 15 The Indian benchmark indices opened on the flat note with a positive bias on Monday on the back of positive domestic inflation data and growing expectations of a US Federal Reserve rate cut As of 930 am the Sensex was up 45 points or 0005 per cent at 81909 and the Nifty was up 415 points or 0017 per cent at 25118The broadcap indices outperformed benchmark indices as Nifty Midcap 100 inched up by 026 per cent and the Nifty Small cap 100 moved up 053 per centBajaj Finance Tata Motors Hero Motocorp and Bajaj Finserv were the top gainers on NSE Nifty 50 index Infosys Ltd Tata Consultancy Services Sun Pharmaceutical Industries Dr Reddys Laboratories Ltd and Shriram Finance Ltd weighed on the Nifty 50 indexAmong sectoral indices Nifty Realty the top gainer jumped 119 per cent Nifty PSU bank up 039 per cent and Nifty Auto up 038 per cent were the other major gainers Nifty Pharma was the top loser down 078 per centInflation had cooled to 207 per cent well below the RBIs projection of 31 per cent in August latest government data saidAnalysts said that Indian equities which have recently underperformed compared to global peers now appear attractively valued Positive factors such as ongoing GST reforms anticipation of a Fed rate cut and improving USIndia trade ties are expected to further support the marketLast week Nifty 50 notched its eighth consecutive advance closing above the symbolic 25100 mark for the first time since Julyits longest winning streak in a year and the biggest weekly gain in nearly three monthsNifty has been gradually taking out the crucial resistances and on the weekly chart the Nifty has confirmed a pattern of higher tops and higher bottoms which is an encouraging sign for a sustained positional bullish trend said Devarsh Vakil Head of Prime Research at HDFC SecuritiesNifty seems to be heading towards the next resistance of 25250 while the 24900 level could offer support he addedMajor US indices posted strong weekly gains and closed near all time highs The Nasdaq rose 20 per cent the SampP 500 gained 16 per cent and the Dow advanced 10 per cent marking the best week since early AugustMost of the Asian markets made strong gains during the morning session While Chinas Shanghai index advanced 022 per cent and Shenzhen added 107 per cent Japans Nikkei rose 089 per cent while Hong Kongs Hang Seng Index jumped 032 per cent South Koreas Kospi inched up 052 per centThe US markets are pricing in a 964 per cent probability of a 25basispoint rate cut on September 17 with additional cuts expected through yearend Softer labour data and persistent inflation support the dovish shift boosting demand for equities and cryptocurrencies said analysts IANS https://dailyworld.in/business/nifty-sensex-open-flat-as-investors-wait-for-fresh-cues-us-fed-meet-outcome-638567.html Mon, 15 Sep 2025 10:04:00 +0530 https://dailyworld.in/business/itr-deadline-over-1-crore-tax-filings-expected-on-last-day-638584.html Mumbai Sep 15 As the extended deadline for income tax return ITR filing ends on Monday filers are hurrying to comply with more than 1 crore returns anticipated on the final day As of now 629 crore returns have been filed for the assessment year AY 202526Last year ITR filings grew 75 per cent yearonyear and assuming a similar pace the number could touch 78 crore this year The growth trend has been steady 677 crore returns were filed in AY 202324 582 crore in AY 202223 and 577 crore in AY 202122Tax experts caution that this years challenges are intensified by the September 15 deadline for the second installment of advance tax placing a dual burden on taxpayers and professionalsChartered accountants and tax lawyers have said that even with a fully operational portal the clustering of deadlines would still put a strain on filersThe Central Board of Direct Taxes CBDT officials have maintained that the system is stable and attributed most issues to browserrelated glitches at the users end The portal processed a record 70 lakh returns in one day last yearMeanwhile the Income Tax Department on Sunday refuted reports which claimed that the date of filing tax return has been extended to September 30To assist taxpayers for ITR filing tax payment and other related services our help desk is functioning on a 24x7 basis and we are providing support through calls live chats WebEx sessions and TwitterX it addedIn May the IT department announced an extension of the due date for filing ITRs for Assessment Year AY 202526 for income earned in financial year 202425 by individuals HUFs and entities who do not have to get their accounts audited from July 31 to September 15 IANS https://dailyworld.in/business/itr-deadline-over-1-crore-tax-filings-expected-on-last-day-638584.html Mon, 15 Sep 2025 11:12:00 +0530 https://dailyworld.in/business/indias-smartphone-exports-surpass-rs-1-lakh-crore-this-fiscal-so-far-apple-leads-data-638596.html New Delhi Sep 15 Indias smartphone exports have crossed Rs 1 lakh crore in value in the first five months of FY26 setting a new record according to industry estimates Even amid tariff and trade disputes with the US Indias smartphone export figure represented a 55 per cent increase from Rs 64500 crore during the same period last fiscal FY25Tech giant Apples contract manufacturers Tata Electronics and Foxconn made up nearly 75 per cent of outbound shipments contributing over Rs 75000 crore worth of exports as per industry sourcesThe productionlinked incentive PLI scheme incentivised the US tech giant to move its manufacturing capabilities into India Apple has increased production in Tamil Nadu and Karnataka leveraging the PLI scheme while remaining insulated from potential tariff escalationsThe iPhone maker has also dedicated most of its export capacity in the country to supply the US market so far in 2025 Indias iPhone shipments to the US have increased significantly with 78 per cent of domestically assembled iPhones exported there in the first half of 2025 up from 53 per cent the previous yearIndias share of US smartphone imports increased to 44 per cent this year while Chinas share fell to 25 per cent down from 61 per cent in mid2024 The total volume of MadeinIndia smartphones grew over 240 per cent YoYAlongside China and Vietnam India is now a major player in global electronics manufacturing with companies shifting production to diversify supply chainsSamsung and Motorola have also increased their share of UStargeted supply from India although their shifts are significantly slower and smaller in scale than Apples Motorola similar to Apple has its core manufacturing hub in China whereas Samsung relies mainly on producing its smartphones in VietnamIndia now has 300 mobile manufacturing units up from two in 2014 In FY14 26 per cent of mobile phones sold in India were locally made which has surged to 992 per cent being manufactured domestically according to government data IANS https://dailyworld.in/business/indias-smartphone-exports-surpass-rs-1-lakh-crore-this-fiscal-so-far-apple-leads-data-638596.html Mon, 15 Sep 2025 12:09:00 +0530 https://dailyworld.in/business/food-and-beverage-sectors-share-clocks-22-pc-of-indias-retail-leasing-in-2025-638601.html New Delhi Sep 15 Food and Beverage FampB industrys share in overall retail leasing grew from 16 per cent in 2023 to 22 per cent in 2025 across the top seven cities in India a report said on Monday The sector has emerged as the cornerstone of the countrys retail real estate growth with 4 million square feet of leasing activity across seven major cities Mumbai Delhi NCR Chennai Hyderabad Kolkata and Pune since 2023This remarkable expansion underscores the sectors important role in driving the countrys broader retail transformation which has witnessed nearly 186 million sq ft of new shopping mall space added over the past five years JLL stated in a reportBengaluru has established itself as the undisputed FampB leader securing more than onethird share of total leasing volume with Indiranagar locality remaining a preferred destination for operatorsMumbai and Delhi NCR follow as key markets collectively contributing to a sector that demonstrates resilience and robust growth potentialThe FampB sector is fundamentally reshaping Indias retail real estate landscape We are witnessing a paradigm shift where developers are planning to dedicate up to 25 per cent of space in upcoming destination malls to FampB a clear response to the segments robust demand dynamics said Dr Samantak Das Chief Economist and Head of Research and REIS India JLLWith 6 million square feet of dedicated FampB space expected to become available across the top seven cities by 2028 we anticipate rapid absorption within 35 years driven by both domestic and international operators seeking quality retail locations Das addedWhat is particularly compelling is that high streets continue to dominate FampB leasing activity accounting for over 50 per cent of transactions in the past 30 months he further saidAccording to the report the sectors growth trajectory has attracted significant attention from international operators with over 20 new global food and beverage brands entering India since 2023USbased brands led international expansion while Delhi NCR and Mumbai remain hotspots for global brands establishing their maiden Indian presence Multicuisine establishments dominated the landscape accounting for a 41 per cent share of leasing activity reflecting Indias evolving culinary palette influenced by travel and global trendsThe growth story is truly a tale of multiple cities each carving its unique niche Bengaluru has emerged as the undisputed leadernot just dominating FampB absorption with over onethird market share but also spearheading the craft beverage revolution with 40 per cent of new pubs and breweries with Indiranagar becoming a hotspot for FampB expansion said Rahul Arora Head Office Leasing and Retail Services Senior Managing Director Karnataka Kerala India JLL IANS https://dailyworld.in/business/food-and-beverage-sectors-share-clocks-22-pc-of-indias-retail-leasing-in-2025-638601.html Mon, 15 Sep 2025 12:48:00 +0530 https://dailyworld.in/business/andhra-cm-urges-centre-to-support-aqua-farmers-hit-hard-by-us-tariffs-638611.html Amaravati Sep 15 Andhra Pradesh Chief Minister N Chandrababu Naidu has appealed to the Centre to support aqua farmers in the state who are facing severe distress due to the tariffs imposed by the US He urged the Union government to make decisions at the national level to protect aqua farmers from losses The CM also requested measures to increase domestic consumption of aqua productsChandrababu Naidu whose Telugu Desam Party is a key partner in the BJPled NDA government at the Centre has written separate letters to Union Finance Minister Nirmala Sitharaman Commerce andamp Industry Minister Piyush Goyal and Fisheries Minister Rajeev Ranjan SinghHe requested the Finance Minister to look into issues such as GST and financial relief the Commerce amp Industry Minister to pursue agreements with other countries in the aqua sector and the Fisheries Minister to focus on expanding the domestic marketThe CM pointed out that aqua farmers and families dependent on the sector in Andhra Pradesh are facing hardships He also explained the measures currently being taken by the state governmentAndhra Pradesh accounts for 80 per cent of the countrys shrimp exports and 34 per cent of marine exports with exports valued at around Rs 21246 crore annually About 25 lakh aqua farmer families and 30 lakh people dependent on allied sectors are in difficultyThe Chief Minister stated that US tariffs have had the greatest impact on shrimp exports Losses are estimated at Rs 25000 crore with about 50 per cent of export orders cancelled Nearly Rs 600 crore in tariff burden has fallen on about 2000 containers being exported The CM noted that the state government has already initiated relief measures for example after discussions with feed producers aqua feed MRPs have been reduced by Rs 9 per kg and subsidised supply of transformers is also being consideredThe CM requested bank support for exporters and aqua companies including a 240day moratorium on loan and interest repayments interest subsidies and a temporary waiver of the 5 per cent GST on frozen shrimpHe also urged the Centre to focus on diversifying export markets beyond the US He suggested entering into Free Trade Agreements FTAs with the European Union South Korea Saudi Arabia and Russia to boost exports The CM also sought interim financial support for exporters clarity on tarifftax relief schemes and noted that exporters were ready to supply seafood to the EUThe CM stressed the need to expand the domestic aqua market He requested a Rs 100 crore corpus fund establishment of cold storages hygienic fish and seafood markets and said that the state government is ready to set up the Andhra Pradesh Shrimp Producers Coordination Committee to facilitate direct farmertomarket supply chainsHe also called for awareness campaigns to promote seafood consumption pointing out that aqua products are rich in protein and highly nutritious At present per capita seafood consumption in India is only 1213 kg per year compared to the global average of 2030 kg Increasing seafood consumption would not only improve public health but also provide crucial support to aqua farmers the CM saidTo improve transportation he requested the Centre to run dedicated trains for shipping aqua products from South India to various parts of the country He also urged that fishermen be provided onetime topup loans of Rs one lakh under Kisan Credit Cards and that processing packaging and coldchain facilities be strengthened through FIDF to enhance competitiveness in new marketsThe CM also requested that the regional offices of research institutions such as ICARCIBA and ICARNBFGR be established in Andhra Pradesh IANS https://dailyworld.in/business/andhra-cm-urges-centre-to-support-aqua-farmers-hit-hard-by-us-tariffs-638611.html Mon, 15 Sep 2025 13:41:00 +0530 https://dailyworld.in/business/npci-raises-daily-upi-payment-limit-on-p2m-transactions-to-rs-10-lakh-638612.html Mumbai Sep 15 The National Payments Corporation of India NPCI has raised the Unified Payments Interface UPI transaction limits for persontomerchant P2M payments to up to Rs 10 lakh in 24 hours for specified categories effective from Monday The move seeks to facilitate larger payments in key sectors and enhance digital adoption in highvalue segments The NPCI maintained the persontoperson P2P limit at Rs 1 lakh per dayEarlier users often encountered restrictions forcing them to split payments or revert to traditional methods like cheques or bank transfersUnder the revised framework capital market and insurance payments the pertransaction limit has been hiked from Rs 2 lakh to Rs 5 lakh with a daily limit of Rs 10 lakhGovernment eMarketplace transaction limit including earnest money deposits and taxes have been increased to Rs 5 lakh per transaction up from Rs 1 lakh Pertransaction limits for travel bookings loan repayments and EMI collections have also been increased to Rs 5 lakh from Rs 1 lakhCredit card bill payments too are permitted for up to Rs 5 lakh in a single transaction though the 24hour limit is set at Rs 6 lakhFor loan and EMI collections users can now pay Rs 5 lakh per transaction with a daily total of Rs 10 lakhFurther jewellery purchases have also received a modest boost with the UPI limit increased from Rs 1 lakh to Rs 2 lakh per transaction and Rs 6 lakh per day Additionally banking services like term deposits through digital onboarding are now capped at Rs 5 lakh both per transaction and per day compared to the earlier Rs 2 lakhFintech firms and other industry leaders praised the changes as beneficial for businesses and consumers where higher limits tackle a significant issue in sectors such as insurance investments and travel where customers had to divide transactionsIndividuals can now pay insurance premiums or renew policies in a single convenient transaction accelerating policy servicing and improving customer satisfactionNotably a higher limit for UPI transactions is only allowed for verified merchants adding another layer of safety and building trust among individualsIndustry leaders emphasised that enhanced security protocols such as mandatory multifactor authentication and stricter merchant vetting will support the increased limits NPCI announced that eligible users will see the changes applied automatically requiring no additional steps IANS https://dailyworld.in/business/npci-raises-daily-upi-payment-limit-on-p2m-transactions-to-rs-10-lakh-638612.html Mon, 15 Sep 2025 13:42:00 +0530 https://dailyworld.in/business/engineers-day-adani-cement-futurex-programme-launched-to-prepare-future-innovators-638613.html Ahmedabad Sep 15 Adani Cement on Monday announced the launch of Adani Cement FutureX a nationwide academiaindustry engagement programme designed to connect classrooms with realworld infrastructure and sustainability challenges Launched on the occasion of Engineers Day the programme engages with 100 premier engineering institutions IITs NITs top privatestate colleges and over 100 schools across more than 100 cities in the countryThe initiative seeks to prepare the nations youth for careers in futureready business models sustainable construction and nextgeneration building solutions said the worlds ninthlargest building materials and solutions company and part of the diversified Adani Group PortfolioAdani Cement FutureX is our commitment to Indias vision of Viksit Bharat 2047 While the Government is shaping the Yogya Bharat Mission to empower youth with employability and entrepreneurial skills our initiative complements this effort by creating realworld learning bridges across schools and campuses said Vinod Bahety CEO Cement Business Adani GroupFrom Smart Cement Labs to robotics AIenabled innovation decarbonisation research and career pathways we are ensuring that Indias young talent is not only employable but also entrepreneurial he addedAs part of the programme Adani Cement Smart Lab offers a live cement manufacturing model featuring a mini rotary kiln detailed knowledge on chemistry bringing science and engineering to life for students through handson demonstrations This will also give insights on Robotic engineering and use of Artificial Intelligence in real lifeStudents will also be introduced to process and product innovations including nanomaterials technology RampD on advanced building material solutions and EV equipments used within plants conveyed through interactive classroomfriendly tools designed to spark curiosity and creativity in science technology finance marketing and moreThere will also be field visits and experiential immersion knowledge sessions and leadership engagements collaborative research and innovation industryanchored learning career pathways youth engagement and brand immersion and leveraging the Indian Concrete Journal ICJ network and editorial collaborationsEchoing Adani Group Chairman Gautam Adanis vision of Temples of Education and Karma Shiksha and his recent address at IIT Kharagpur where he called students the new freedom fighters of Bharat innovators whose ideas code and imagination will secure Indias selfreliance in a world of technologydriven challenges Adani Cement FutureX represents one of the largest academiaindustry collaborations in Indias building materials sectorAdani Cement already nurtures a talent pool of over 1500 Graduate Engineer Trainees GETs and Diploma Engineer Trainees DETs and runs advanced leadership programmes to build future leadersAdani Cement has surpassed 1045 million tonnes per annum of installed capacity and now accounts for nearly 30 per cent of the cement used in Indias housing and infrastructure projects IANS https://dailyworld.in/business/engineers-day-adani-cement-futurex-programme-launched-to-prepare-future-innovators-638613.html Mon, 15 Sep 2025 13:43:00 +0530 https://dailyworld.in/business/wpi-inflation-inches-up-to-052-per-cent-in-august-638614.html New Delhi Sep 15 The annual rate of inflation based on the All India Wholesale Price Index WPI number edged up to 052 per cent for August primarily due to the increase in prices of food products and manufactured goods according to figures released by the Ministry of Commerce and Industry on Monday Positive rate of inflation in August 2025 is primarily due to an increase in prices of food products other manufacturing nonfood articles other nonmetallic mineral products and other transport equipment etc the government said in a press releaseHowever the prices of fuels such as petrol diesel and natural gas continued to decline during August with the fuel inflation declining further in the negative zone to 317 per cent the figures showedThe monthovermonth change in WPI for August stood at 052 per cent as compared to July when the WPI inflation fell to a twoyear low of 058 per cent this year compared to the same month of the previous year primarily due to a decrease in the prices of food articlesMeanwhile the countrys inflation rate based on the Consumer Price Index CPI edged up to 207 per cent in August although prices of food continued to decline during the month easing the burden on the common man according to figures released by the Ministry of Statistics on FridayThe headline inflation in August was marginally higher than the 161 per cent in July this year which was the lowest level of yearonyear retail inflation since June 2017However the inflation rate is well within the RBIs target rate of 4 per cent which allows the central bank to continue with the soft money policy to spur growthFood inflation was estimated at minus 069 per cent in August remaining in the negative zone for the third consecutive month as the prices of vegetables declined by 1592 per cent and pulses turned cheaper by as much as 1453 per cent The prices of spices also fell by 324 per cent during the monthAn increase in headline inflation and food inflation during August compared to July is mainly attributed to an increase in inflation of meat and fish edible oil and fats eggs and personal care and affectsThe Reserve Bank RBI has pegged Indias CPI inflation at 31 per cent for 202526 as the steady progress of the monsoon and robust kharif sowing are expected to keep food prices in checkRBI Governor Sanjay Malhotra recently said The inflation outlook for 202526 has become more benign than expected in June Large favourable base effects combined with steady progress of the southwest monsoon healthy kharif sowing adequate reservoir levels and comfortable buffer stocks of foodgrains have contributed to this moderation IANS https://dailyworld.in/business/wpi-inflation-inches-up-to-052-per-cent-in-august-638614.html Mon, 15 Sep 2025 13:44:00 +0530 https://dailyworld.in/business/indian-equities-deliver-14-pc-cagr-in-20-years-investors-wealth-multiplies-13-times-638619.html New Delhi Sep 15 Indian equities under the Nifty50 basket have delivered a compound annual growth rate CAGR of 14 per cent over the past 20 years multiplying investors wealth by 13 times according to a report released on Monday Gold meanwhile slightly outperformed equities with a 147 per cent CAGR growing 16 times during the same periodIn comparison real estate and the debt market generated more modest returns compounding annually at 77 per cent and 75 per cent respectively over the last two decades FundsIndia highlighted in its September Wealth Conversation ReportLooking at a longer horizon domestic equities have fared even better delivering a 136 per cent CAGR over 35 years and multiplying wealth by 88 timesGlobally the US equity benchmark SampP 500 returned 147 per cent CAGR multiplying investor wealth by 156 times in the past 20 yearsWithin India mid and smallcap stocks emerged as the biggest wealth creators The Nifty Smallcap 250 delivered a 142 per cent CAGR growing 14 times in two decades while the Nifty Midcap 150 surged at 162 per cent annually multiplying wealth by 20 times By comparison largecap stocks represented by the Nifty 100 compounded at a 139 per cent CAGR and multiplied 136 times over the same periodThe report also emphasised the importance of longterm investing The probability of negative returns was as high as 43 per cent for intraday trades in Nifty50 stocks 39 per cent for onemonth holdings 31 per cent for threemonth holdings and 23 per cent for oneyear holdings However this risk dropped significantly over longer horizons just 6 per cent for three years 01 per cent for five years and became NIL for holding periods of seven to ten yearsAccording to the report 73 per cent of the time Indian equities Nifty 50 have doubled in 67 years and 80 per cent of the time Indian equities have tripled in 1011 years Moreover 76 per cent of the time Indian equities have multiplied 4 times in 1213 years IANS https://dailyworld.in/business/indian-equities-deliver-14-pc-cagr-in-20-years-investors-wealth-multiplies-13-times-638619.html Mon, 15 Sep 2025 14:10:00 +0530 https://dailyworld.in/business/low-inflation-to-give-rbi-space-to-cut-rates-by-50-bps-this-year-report-638623.html New Delhi Sep 15 Indias inflation rate based on the Consumer Price Index CPI is expected to remain low due to GST rate cuts and the decline in food prices which will give the Central Bank headroom to reduce the policy rates by another 05 per cent 50 bps this year according to a Morgan Stanley report released on Monday The benign trend in headline CPI is likely to be perpetuated further by disinflationary impulses from low food prices GST rate cuts and lack of input price pressures As such we expect headline CPI to average at 24 per cent yearonyear in FY26 allowing the RBI to cut rates by 25 bps 025 per cent each in October and December the report statedHeadline CPI inflation is tracking below RBIs target of 4 per cent for the last seven months partly driven by food price disinflation However core inflation remains range bound tracking at 42 per cent while core inflation is at 31 per cent and below 4 per cent for the last 22 months indicating sustained moderation in underlying inflation the report pointed outThe disinflationary impulse is likely led by a combination of drivers that include persistent softness in food prices and supportive outlook driven by better crop production and GST rationalisation is expected to lead to a downward bias to the aggregate price levels with our sensitivity analysis indicating a 5060 bps impact the report further statedAgainst this backdrop the report expects headline CPI to average 26 per cent yearonyear in the second half of financial year 202526 and at 24 per cent for the full financial yearHowever it cautioned that while lower indirect taxes will likely boost domestic demand from a low base in the second half of 202526 there is need to be watchful of the impact of drag from external demand due to adverse tariffs and trend contingent on ongoing negotiations with the USWe remain watchful of the trend in monsoon and its impact on the standing summer crop impact of GST rationalisation on consumption and passthrough to inflation external factors such as tradetariff impact on growth and capital flows and Feds rate easing it mentioned IANS https://dailyworld.in/business/low-inflation-to-give-rbi-space-to-cut-rates-by-50-bps-this-year-report-638623.html Mon, 15 Sep 2025 14:13:00 +0530 https://dailyworld.in/business/over-50-lakh-farmers-become-shareholders-in-10-000-fpos-in-5-years-638636.html Mumbai Sep 15 An increasing number of farmers are becoming shareholders in farmerproducer organisations FPOs with over 5 million farmers having taken equity in over 10000 FPOs in the last five years as per government data The trend of farmers increasing their share holdings in FPOs has led to enhanced local aggregation and lower production costs through economies of scaleIt resulted in the collectivisation of small and marginal farmers allowing member farmers to access cheaper agricultural inputs including fertilisers crop protection products and equipment as per government officialsWomen farmers hold a 38 per cent share in these collectives FPOs aim to increase farmers income and provide small farmers with direct access to significant market benefits bargaining power and improved market accessTelangana with 067 million shareholders Uttar Pradesh with 059 million shareholders Andhra Pradesh 057 million Madhya Pradesh 032 million and Maharashtra 03 million together represent 50 per cent of total shareholders as per data from the agriculture ministryThe initiative to form 10000 FPOs backed by a budget of Rs 6865 crore over five years was launched in February 2020 In FY25 the cumulative turnover of FPOs crossed Rs 15282 croreThese collectives were registered under various provisions including the Companies Act 2013 for farmerproducer companies the State Cooperative Societies Acts and the MultiState Cooperative Society ActTo sustain these collectives the government offers a matching grant of up to Rs 2000 for each farmer member of the FPO with a maximum limit of Rs 15 lakh per collectiveOver 5880 FPOs hold seed licenses and over 5500 farmer collectives are licensed to distribute fertilisers More than 400 FPOs operate dealerships for agrochemical distribution ensuring that dealer discounts are passed on to member farmersFurther over 200 collectives are selling products on platforms like GeM while sales of agricultural products have started significantly through Amazon and FlipkartOver 1100 farmerproducer organisations FPOs of the total 10000 launched under the Centres special incentive scheme have succeeded in crossing a business turnover of Rs 1 crore according to figures compiled by the Ministry of Agriculture and Farmers Welfare IANS https://dailyworld.in/business/over-50-lakh-farmers-become-shareholders-in-10-000-fpos-in-5-years-638636.html Mon, 15 Sep 2025 14:43:00 +0530 https://dailyworld.in/business/bank-credit-to-grow-1112-pc-this-fiscal-on-2nd-half-boost-report-638645.html New Delhi Sep 15 Bank credit in India is expected to grow by 1112 per cent in the second half of the current financial year FY26 a new report said on Monday The growth will be slightly higher than last fiscal and also above the average growth seen in the past decade according to Crisil RatingsThe rating agency said the increase will mainly come in the second half of the year helped by government and regulatory support and a pickup in consumptionRetail credit is expected to lead the growth and could expand by around 13 per cent this fiscal compared to 117 per cent previous financial yearWithin retail lending unsecured loans are likely to grow faster supported by rising consumer demand and the low base of last yearHome loans which form more than half of retail credit will benefit from lower interest rates while gold loans though smaller in share are expected to continue their strong growthCrisil Ratings Chief Ratings Officer Krishnan Sitaraman said the reduction in GST lower interest rates benign inflation and income tax cuts announced in the Union Budget will all support consumption and boost retail credit demandAjit Velonie Senior Director at Crisil Ratings noted that while banks account for around 40 per cent of the Rs 171 lakh crore corporate credit market capital markets contribute over a thirdThe substitution trend toward bonds could slow once bank lending rates fully reflect repo rate cutsLending to nonbanking financial companies NBFCs is also expected to pick up in the second half following the rollback of higher risk weights on bank exposure to the sectorAt the same time infrastructureled demand is likely to push credit to industries such as cement steel and aluminiumCredit to micro small and medium enterprises MSMEs which make up about 17 per cent of overall bank credit is expected to remain steady at around 14 per centCrisil said digitisation formalisation and better data access have helped banks serve this segment more efficiently though some exportoriented MSMEs could still face challengesAgricultural credit is projected to grow around 10 per cent this fiscal supported by adequate rainfall and good harvest expectations IANS https://dailyworld.in/business/bank-credit-to-grow-1112-pc-this-fiscal-on-2nd-half-boost-report-638645.html Mon, 15 Sep 2025 15:17:00 +0530 https://dailyworld.in/business/container-shipping-costs-to-us-europe-fall-amid-tariff-uncertainties-638651.html Seoul Sep 15 Container shipping costs to the United States and Europe declined last month amid uncertainties surrounding global trade due to Washingtons tariff scheme the customs agency here said on Monday The shipping cost for two twentyfoot equivalent units TEUs of containers from South Korea to the US west coast decreased 39 per cent from the previous month to 528 million won US3802 according to data from the Korea Customs ServiceShipping rates to the US east coast dropped 75 per cent to 584 million won during the same period reports Yonhap news agencyShipping costs to the two US regions had fallen for the past two months after rebounding in June the agency saidFreight rates from South Korea to the European Union also fell 43 percent onmonth in August to 377 million wonMeanwhile shipping costs to China and Vietnam fell 169 percent and 214 percent respectively during the same periodIn contrast shipping costs to Japan rose 24 percent from the previous month to 727000 won according to customs agency dataMeanwhile HD Korea Shipbuilding and Offshore Engineering Co said on Monday it has secured a 6519 billionwon 4696 million order to build four container ships for a shipper based in the British Virgin IslandsThe vessels will be constructed at the shipyard of HD Hyundai Samho Heavy Industries Co one of its shipbuilding units with delivery scheduled for the second half of 2028 the company said in a regulatory filingWith the latest contract HD Korea Shipbuilding has secured orders for a total of 90 vessels worth 122 billion so far this year achieving 677 percent of its annual order target of 1805 billionHD Korea Shipbuilding is a subholding company under HD Hyundai Co formerly known as Hyundai Heavy Industries Holdings It has three affiliates including HD Hyundai Heavy Industries Co and HD Hyundai Mipo Dockyard Co IANS https://dailyworld.in/business/container-shipping-costs-to-us-europe-fall-amid-tariff-uncertainties-638651.html Mon, 15 Sep 2025 15:51:00 +0530 https://dailyworld.in/business/tata-motors-strengthens-ev-ecosystem-crosses-25-000-public-chargers-for-electric-scvs-638653.html Mumbai Sep 15 Tata Motors on Monday announced that more than 25000 public charging stations are now available for its electric small commercial vehicle SCV customers Spread across over 150 cities including major hubs like DelhiNCR Bengaluru Mumbai Chennai and Hyderabad these charging stations are aimed at boosting range confidence and efficiency for lastmile delivery operatorsTo speed up the expansion of charging infrastructure Tata Motors has also signed MoUs with 13 leading Charging Point Operators CPOs to set up another 25000 public chargers over the next 12 monthsAll current and upcoming charging locations will be integrated with Tata Motors connected vehicle platform Fleet Edge so customers can easily find and navigate to them in real timePinaki Haldar Vice President and Business Head of SCVPU at Tata Motors Commercial Vehicles said that crossing the 25000 charging station milestone marks an important step in advancing electric cargo mobilityCrossing the 25000 public charging station mark is a pivotal milestone in our commitment to advancing electric cargo mobility and its enabling ecosystem Haldar addedHe highlighted that more than 10000 Tata Ace EVs are already on the road and have collectively covered over 6 crore kilometres showing growing confidence among transporters in the benefits of electric cargo vehiclesHe also noted that the newly launched Ace Pro EV is gaining popularity with its advanced features for urban and semiurban transport needsThe companys electric SCV range currently includes the Ace Pro EV Ace EV and Ace EV 1000 designed to handle diverse cargo applications with different payload options and load configurationsTata Motors has also set up over 200 dedicated EV support centres across India to ensure high uptime fast turnaround and reliable service for its customersHaldar added that while Tata Motors continues to deliver reliable highperformance ecargo vehicles its partnerships with Indias leading CPOs will help build a stronger charging network and support profitable zeroemission logistics for entrepreneurs and transporters across the country IANS https://dailyworld.in/business/tata-motors-strengthens-ev-ecosystem-crosses-25-000-public-chargers-for-electric-scvs-638653.html Mon, 15 Sep 2025 15:54:00 +0530 https://dailyworld.in/business/delhis-office-market-picks-up-momentum-projected-to-add-50-mn-sq-ft-by-2027-638659.html New Delhi Sep 15 Delhis office real estate market is poised to witness a sharp uptick in supply expected to add approximately 5 million square feet of new office space over the next two years a report said on Monday The real estate sector in the national capital has picked up a trajectory of sustained growth driven by a combination of progressive policies visionary urban planning and cuttingedge technologyGovernment initiatives and regulatory oversight from bodies such as Delhi RERA DLRERA are fostering a new era of transparency enhancing the citys attractiveness to investors CBRE said in a joint report with Confederation of Indian Industry CIIThis momentum is further bolstered by the Delhi Master Plan 2041 the governments comprehensive blueprint for urban expansion which integrates rural areas and prioritises affordable housingNew homebuyers and business owners are looking beyond just location and are now focused on amenities sustainability and design This change shows that the city is becoming more affluent and that people want a better quality of life said Anshuman Magazine Chairman and CEO India SouthEast Asia Middle East and Africa CBREThis has given people a lot of confidence and attracted significant investment With the Delhi Master Plan 2041 guiding future growth the city is ready to play a pivotal role in Indias real estate story he saidDuring January to June H1 2025 Delhi recorded an office space absorption of approximately 400000 sq ft driven by strong business confidence in core business districtsThe leading sectors driving this demand were research consulting and analytics 39 per cent share followed by flexible space operators 23 per cent and BFSI 18 per cent collectively contributing to around 80 per cent of total leasing activity in the six monthsIn H1 2025 Delhi also recorded a healthy retail space absorption of about 230000 sq ft with high streets accounting for 72 per cent of the total leasingFashion and apparel retailers demonstrated the highest demand with a 35 per cent share followed by homeware and department stores 20 per cent and food and beverage operators 17 per cent underscoring the growing popularity of lifestyledriven and experiential retail formats across key locations the report notedOn the residential front DelhiNCRs market has demonstrated a robust growth in the first half of this year dominated by luxury unitsIn the first six months the region witnessed about 21000 new launches 35 per cent higher yearonyear and equally healthy sales of over 21000 units Highend 31 per cent premium 26 per cent and luxury 18 per cent segments together accounted for 75 per cent of total sales IANS https://dailyworld.in/business/delhis-office-market-picks-up-momentum-projected-to-add-50-mn-sq-ft-by-2027-638659.html Mon, 15 Sep 2025 16:33:00 +0530 https://dailyworld.in/business/rbi-likely-to-cut-rates-by-25-bps-in-q4-cy25-as-inflation-stays-benign-report-638661.html Mumbai Sep 15 The Reserve Bank of India RBI expected to ease rates by 25 bps in Q4 CY25 owing to anticipated growth weakness from declining export orders and slower government spending a report has said Strong cereal production well stocked granaries lower oil prices and cheaper exports from China are likely to keep inflation lower for longer HSBC Global Research said in the reportThe broking firm said that average inflation for the current quarter at 18 per cent lower than the RBIs forecast of 21 per cent Consumer price inflation in September is projected to be between 1 per cent and 15 per cent it saidGold remains a significant factor that is keeping the core inflation high with a 40 per cent YoY price increase adding nearly 43 basis points to the CPI in August the statement saidHSBC forecasted that recent GST rate cuts will soften the momentum in the price uptick of personal care items in the coming monthsVegetable and fruit prices increased in August due to rainrelated supply disruptions while prices of cereals and pulses continued to decline Core inflation excluding food fuel housing and gold was recorded at 32 per cent yearonyear much below the RBIs target the firm notedThe firm however noted that excessive rains and flooding around northwest India particularly Punjab remains a concernGovernment spending particularly capex which has been growing 33 per cent YoY in April to July period may begin to slow in 2HFY26 to settle close to the budgeted growth of 10 per cent it notedThe research firm earlier this month gave a neutral stance on Indian equities even though it maintained that five out of nine risk factors for Indian markets are improvingThe earnings growth is expected to moderate to 89 per cent in 2025 though the consensus estimate of earnings growth is 11 per cent for calendar year 2025 the brokerage said IANS https://dailyworld.in/business/rbi-likely-to-cut-rates-by-25-bps-in-q4-cy25-as-inflation-stays-benign-report-638661.html Mon, 15 Sep 2025 16:35:00 +0530 https://dailyworld.in/business/global-labour-shortage-by-2047-to-create-opportunity-for-indias-young-workforce-report-638678.html New Delhi Sep 15 With global labour shortages projected to reach 250 million workers by 2047 across blue and whitecollar jobs Indias young and growing workforce presents a historic opportunity to become the worlds next global talent hub according to a report on Monday The report by the Global Access to Talent from India GATI Foundation in collaboration with Boston Consulting Group BCG showed that declining birth rates and shrinking workforces across developed nations are creating acute shortages leaving millions of jobs vacant and businesses strugglingJust 20 countries including the US UK Germany Japan and South Korea will account for 90 per cent of this labour gapAround 50 per cent of the gap will be in bluecollar roles such as transport hospitality and industry workers another 20 per cent in service roles like nursing and teaching and 30 per cent in whitecollar jobs Unfilled positions already cost the global economy more than 1 trillion annually in lost productivityHowever India possesses a demographic edge with a relatively young population Every year it adds 1012 million people to its eligible workforce and this trend is expected to continue in the coming yearsBy 2047 advanced economies will face a shortfall of 200250 million workers India has a unique opportunity to step into this gap building on its proven strengths in ICT and professional services The next chapter must be about scaling new frontiers healthcare green skills and manufacturing where demand is surging worldwide said Rajiv Gupta Managing Director amp Senior Partner at BCGIndia is home to the worlds largest pool of workingage talent and will remain a source of demographic strength as many other economies age Today Indias median age is just under 30 with 600 million people between the ages of 1840 compared to 40 across OECD countries Against the backdrop of 50 million global opportunities expected by 2030 India has the capacity to fill around 10 million added Arnab Bhattacharya CEO of GATI FoundationGupta called for bold reforms to align qualifications accelerate mobility and embed global standards to enable the country to transform from being a contributor to the global workforce into becoming the backbone of itCurrently Indian workers abroad send back approximately 130 billion per year in remittancesMore than 700000 people embark on journeys overseas as migrant workers annually Yet Indias share of global migrants 6 per cent is significantly lower than its share of the world population 18 per centIf India seizes this opportunity the number of workers migrating abroad for jobs could double to 115 million a year by 2030 and remittances could rise to 300 billion per yearIf implemented these interventions can help India replicate the global success of its IT services sector in areas like healthcare domestic work and manufacturing amongst others IANS https://dailyworld.in/business/global-labour-shortage-by-2047-to-create-opportunity-for-indias-young-workforce-report-638678.html Mon, 15 Sep 2025 17:16:00 +0530 https://dailyworld.in/business/sensex-nifty-settle-slightly-lower-amid-mixed-global-cues-638680.html Mumbai Sep 15 The domestic benchmark indices closed slightly lower on Monday as investors remained cautious ahead of the US Fed policy meeting The equity indices remained rangebound amid optimism around strong domestic consumption due to the GST overhaul Sensex settled at 8178574 down 11896 points or 015 per cent The 30share index started the session flat at 8192551 against the last sessions closing of 8190470 The index remained rangebound hitting intraday high and low at 8199851 and 8174470 respectivelyNifty closed at 2506920 down 4480 points or 018 per centBenchmark indices traded largely flat as investors remained cautious ahead of the Fed policy meeting with the IT index witnessing profit booking after last weeks rally While a 25bps rate cut is largely factored in markets await guidance on the future rate path to gauge the trajectory for bond yields said analystsStrong domestic consumption continues to underpin sentiment and limit downside while renewed optimism around trade deals and an expected earnings recovery in H2 FY26 are further supporting investor confidence he addedAsian Paints Mahindra and Mahindra Titan Infosys Sun Pharma TCS and Tech Mahindra were the top losers from the Sensex stocks Bajaj Finance Eternal LampT and Adani Ports settled higherSectoral indices remained rangebound experiencing subdued interest from investors Nifty Fin Services closed 29 points or 011 per cent higher and Nifty Bank jumped 78 points or 014 per cent Nifty IT Nifty FMCG and Nifty Auto settled in negative territoryBroader indices showed positive momentum amid buying in mid and smallcap stocks Nifty Small Cap 100 surged 137 points or 076 per cent Nifty Midcap 100 jumped 258 points or 044 per cent while Nifty 100 settled flatAccording to analysts the markets took a breather as the Nifty snapped its eightday winning streak closing below the 25100 markA decisive breakout above 25150 could trigger short covering and potentially lead to a rally toward the 25300 zone Given the recent upward momentum some profit booking at higher levels is expected Therefore the preferred strategy would be to buy on dips they added IANS https://dailyworld.in/business/sensex-nifty-settle-slightly-lower-amid-mixed-global-cues-638680.html Mon, 15 Sep 2025 17:18:00 +0530 https://dailyworld.in/business/investment-of-rs-4-000-crore-from-japanese-companies-confirmed-ktaka-govt-638682.html Bengaluru Sep 15 Karnatakas Minister for Large and Medium Industries MB Patil has stated that his recent visit to Japan has resulted in a confirmed investment of more than Rs 4000 crore from various Japanese industries in the state He was speaking to media representatives at his residence in Bengaluru on MondayThis was MB Patils second visit to Japan with the aim of attracting investments He noted that Japanese industrial leaders are traditionally conservative and take decisions after careful and prolonged consideration Minister Patil statedCurrently about 50 per cent of Japanese companies operating in India are based in Karnataka Minister Patil recalled that during his previous visit to Japan and South Korea the state was able to attract investments worth Rs 6500 croreDuring this recent visit discussions were held with companies like Honda regarding expansion in Karnataka as well as with Mukand Sumi Steel on potential partnerships Patil statedMeanwhile the United States has imposed a 50 per cent import duty on Indian products excluding electronics and pharmaceutical items This has created a crisislike situation making it more difficult for investors to make decisions Nonetheless the confirmation of Rs 4000 crore investment through this visit is a reassuring development Minister Patil saidSome companies may invest smaller amounts in the state but all such investments contribute to enhancing the industrial ecosystem Additionally investors prefer a calm and peaceful environment when making investment decisions Everyone should take note of this Minister Patil expressed hope that no region in the country should create a situation that appears unfavourable for investment IANS https://dailyworld.in/business/investment-of-rs-4-000-crore-from-japanese-companies-confirmed-ktaka-govt-638682.html Mon, 15 Sep 2025 17:22:00 +0530 https://dailyworld.in/business/ai-growing-fast-regulation-must-keep-pace-fm-nirmala-sitharaman-638683.html New Delhi Sep 15 Finance Minister Nirmala Sitharaman on Monday said that artificial intelligence AI is developing rapidly and cannot be seen as a static technology FM Sitharaman stressed that as AI evolves in real time there is a need to remain cautious and ensure that ethics are not ignoredSpeaking at the release of NITI Aayogs report AI for Viksit Bharat The Opportunity for Accelerated Economic Growth FM Sitharaman said regulation must move just as fast as technologyIf the technology is on a sprint then regulation also has to be on a sprint the Finance Minister remarkedThe Finance Minister highlighted that the government is holding continuous discussions with Nasscom and other stakeholders in the AI spaceFM Sitharaman said the aim is not just to keep pace with global developments but to take a leadership role in shaping AI adoption responsiblyWe do not want to be behind but we also cannot just be at par we need to have a leadership role and thats where the effort of the ministry is going the Finance Minister explainedFM Sitharaman explained that regulations must strike a balance between encouraging innovation and ensuring responsible useWe do not want regulation that literally wipes out technology itself We want regulations because we want a responsible application the Minister addedFM Sitharaman also pointed to initiatives announced in the Union Budget such as setting up AI centres for education agriculture health and urban spacesAI FM Sitharaman said must be used to provide solutions for better cities and improved living conditionsThe finance ministry is also working with the Reserve Bank of India which is developing a sandbox for testing various AIbased applicationsAt the same time FM Sitharaman cautioned that AI brings challenges including its potential impact on jobs and society at largeWhile AI can be a powerful tool for progress it must be managed carefully to ensure Indias demographic dividend is not negatively affected the Finance Minister addedRegulation has to run this race equally as much as technology is running it the minister reiterated underlining the need for responsible growth of AI in Indias journey towards Viksit Bharat IANS https://dailyworld.in/business/ai-growing-fast-regulation-must-keep-pace-fm-nirmala-sitharaman-638683.html Mon, 15 Sep 2025 17:23:00 +0530 https://dailyworld.in/business/us-shadow-looms-over-pakistans-ties-with-china-638471.html New Delhi Sept 14 Pakistan a country which once dreamed of leading the Muslim world and linking South and Central Asia has been reduced to becoming excessively dependent on China Even this relationship could turn precarious as Islamabad tries to maintain a fine balance between cosying up to the US and keeping up its ties with Beijing Even the ChinaPakistan Economic Corridor CPEC is not Islamabads brainchild but a spoke in Beijings Belt and Road Initiative which is aimed more at serving Chinas own ambitions according to an article in Pakistan TodayIn the Middle East the regional diplomatic order is shifting Arab states are moving towards normalisation with Israel under the Abraham Accords reshaping traditional alliances and potentially altering the balance of influence in the Muslim world the article said Even historically close partners such as Kazakhstan which imports their locally assembled JF17 fighter jets and Turkey are gradually adopting more flexible positions towards Tel Aviv Afghanistan remains unstable and unreliable as a trade and security partner Iran meanwhile faces deepening international isolation and has had occasional military tensions with Pakistan such as last years crossborder skirmishes the article further statesThe article also highlights that Islamabad has not succeeded in implementing any economic project planned with Central Asian countries such as Kyrgyzstan Tajikistan and UzbekistanAll of this leaves Pakistan with one major and consistent ally China While the partnership with Beijing remains central to our economic and security strategies it is not immune to the turbulence of global politics The delicate balancing act Islamabad must perform between deepening US engagement and maintaining Chinese trust is becoming increasingly precarious Even the muchcelebrated CPEC now entering its second phase is exposed to vulnerabilities from regional instability shifting geopolitical alignments and global power competition the article lamentsIt also highlights that Islamabads recent flirtation with the idea of cryptomining partnerships with the USA seems less like a serious economic pivot and more like a political talking point Our history of announcing ambitious projects without the institutional capacity or longterm followthrough suggests that such ventures are far more likely to evaporate than materialiseThe article also underlines that on the strategic front Pakistans room to manoeuvre is narrowing at an alarming rate The country is not part of BRICS the rapidly expanding economic bloc that now accounts for a significant share of global GDP and is increasingly shaping the future of trade and development financing outside Western frameworks Indias Act East Policy initiated in 2012 has deepened its integration with ASEAN economies and strengthened security partnerships across East Asia while leaving Pakistan excluded from emerging regional supply chainsIf New Delhi were to further revise its policy towards the Indian Ocean Rim Association Pakistans maritime trade routes could face additional strategic restrictions effectively tightening a noose around our seabased economic lifelines the article added IANS https://dailyworld.in/business/us-shadow-looms-over-pakistans-ties-with-china-638471.html Sun, 14 Sep 2025 15:44:00 +0530 https://dailyworld.in/business/gold-surges-over-rs-3-300-in-this-week-silver-crosses-rs-128-lakh-mark-638481.html New Delhi Sep 14 Gold and silver prices witnessed a sharp rally this week keeping both precious metals close to their alltime highs According to the India Bullion and Jewellers Association IBJA the price of 24carat gold stands at Rs 109707 per 10 grams compared to Rs 106338 a week ago reflecting a rise of Rs 3369Prices of 22carat gold have climbed from Rs 97406 to Rs 100492 per 10 grams while 18carat gold has risen from Rs 79754 to Rs 82280 per 10 gramsSilver prices also gained significantly rising by Rs 4838 during the review period The white metal now trades at Rs 128008 per kg up from Rs 123170The rally in precious metals is being attributed to rising global uncertainties Recent tariff measures imposed by US President Donald Trump on multiple countries have heightened concerns worldwideTraditionally seen as safehaven assets during times of uncertainty both gold and silver have witnessed higher demand while limited supply has further pushed prices upwardJatin Trivedi of LKP Commodities noted that gold prices have continued their bullish run driven by increasing expectations of a US Federal Reserve rate cutDespite the metal being overbought ongoing tariff disputes and the global dedollarization theme are supporting higher pricesHe added that gold is likely to trade between Rs 107 lakh and Rs 112 lakh per 10 grams in the coming sessionsSince January 1 gold prices have jumped by 4404 per cent from Rs 76162 to Rs 109707 per 10 grams marking an increase of Rs 33545Silver has seen an even sharper rise of 4881 per cent moving from Rs 86017 to Rs 128008 per kg during the same period IANS https://dailyworld.in/business/gold-surges-over-rs-3-300-in-this-week-silver-crosses-rs-128-lakh-mark-638481.html Sun, 14 Sep 2025 16:27:00 +0530 https://dailyworld.in/business/over-6-crore-itrs-filed-so-far-for-ay-2025-26-income-tax-department-638513.html New Delhi Sep 14 The Income Tax Department has announced that more than 6 crore income tax returns ITRs have been filed for Assessment Year 202526 so far The department shared the update on social media platform X thanking taxpayers and tax professionals for helping achieve this milestoneThank you taxpayers amp tax professionals for helping us reach the milestone of 6 crore Income Tax Returns ITRs as of now and still counting Income Tax India posted on XThe last date to file ITRs without penalty is September 15 To make the process easier the department has kept its helpdesk active 24x7 Taxpayers are being assisted through calls live chats WebEx sessions and social media supportTo assist taxpayers for ITR filing tax payment and other related services our helpdesk is functioning on a 24x7 basis and we are providing support through calls live chats WebEx sessions amp TwitterX it addedThe department has urged those who are yet to file their returns to do so quickly to avoid lastminute rushWe urge all those who havent filed ITR for AY 202526 to file at the earliest to avoid last minute rush Lets continue this momentum the IT Department mentionedEarlier in May the government had extended the filing deadline for individuals Hindu Undivided Families HUFs and entities not requiring auditsThe date was pushed from July 31 to September 15 due to major changes in the ITR formsThese revisions made in late April and early May required updates in the filing utilities and backend systemsThe consistent rise in ITR filings over the years highlights both growing compliance and the expansion of Indias tax baseFor AY 202425 a record 728 crore returns were filed by July 31 2024 compared to 677 crore the previous year marking a 75 per cent increaseIn the current filing season the Income Tax Department has also rolled out new online utilitiesITR1 and ITR4 meant for small and medium taxpayers were enabled in June In July the department also activated ITR2 which is for individuals and HUFs with capital gains income but no business or professional income IANS https://dailyworld.in/business/over-6-crore-itrs-filed-so-far-for-ay-2025-26-income-tax-department-638513.html Sun, 14 Sep 2025 18:39:00 +0530 https://dailyworld.in/business/israel-must-pave-way-to-speed-up-india-middle-east-europe-economic-corridor-638524.html New Delhi Sep 14 The IndiaMiddle EastEurope Economic Corridor IMEC initiative has the potential to change the face of global trade and transportation as well as digital and energy connectivity but has received a setback due to the ongoing conflict in Gaza between Israel and Hamas The IMEC initiative offers benefits to all the participating countries possessing a great potential to leverage the economic growth of Europe India and the Gulf And it also grants Israel an opportunity to enhance its significance and role in the international arena on strategic economic and geographic levelsThe government of Israel should prioritize taking steps to implement the IMEC project once its war against Hamas is over according to an article by Uzay Bulut published in JNSIndia the European Union UAE France Germany Italy Saudi Arabia and the United States signed a Memorandum of Understanding to build an economic system by creating a multimodal network of railways ports and highways to boost trade efficiency and regional collaboration These will become a vital artery of global commerce and a potential alternative to Chinas Belt and Road InitiativeThe corridor is expected to connect India the Middle East and Europe with the support of Washington When completed it will likely include three major Mediterranean Sea ports Haifa in Israel Piraeus in Greece and Trieste in Italy the article points outFor Israel the IMEC represents more than an economic opportunity it is a pathway to redefine its strategic regional status and geopolitical alignments according to Mordechai Chaziza of the University of HaifaIsraeli Prime Minister Benjamin Netanyahu has framed the corridor as a transformative platform for Israeli integration into Arab economies and global supply chainsAccording to initial estimates IMECs overland transportation route could reduce logistics costs by 30 per cent and transportation time by 40 per cent relative to shipping via the Suez Canal The new route would also likely provide important structural benefits such as reducing the risk of supply chain shocks and lowering energy costsThe Hamasled terrorist attacks in southern Israel on October 7 2023 and the ensuing war with Hamas in Gaza came as a major setback for implementing the project Just weeks after the IMEC memorandum of understanding was signed at the G20 Summit Hamas invaded IsraelThe escalating regional instability particularly from Irans regional proxies has effectively led to the halting of this significant initiative as well as a SaudiIsraeli normalization deal the article statesWhile normalization would certainly ease political and logistical hurdles its not an absolute requirement and the project could still move forward with careful diplomatic management wrote Rachel Rizzo and Nicholas Shafer for the Atlantic CouncilHence it appears that the quicker Israel manages to stabilize the Gaza situation the sooner it will be able to focus on doing its part to make this project a realityAn article by Nir Levitan and professors Arie Reich and Jonathan Rynhold notes some suggestions to realize the economic potential of IMEC To make the agreement a reality and attract private and governmental investment several initial steps are required including the creation of a multilateral agreement to establish an institutional framework for a structured and systematic dialogue between the participating countries A dedicated body should be established to attract private investment and promote infrastructure development among the participating countriesVia this corridor the United States and European Union seek to bolster their connectivity with South Asia and the Gulf aiming to align their strategic objectives and counter Chinas growing regional influenceSeveral European countries have since appointed special envoys to the IMEC including France and Italy Under its framework Israel and Cyprus announced new energy development projects in May calling to relaunch the IsraelCyprusGreece trilateral forumIt is now important for Europe the United States and Israel to double down on their support so that more progress for this initiative can be achieved the article added IANS https://dailyworld.in/business/israel-must-pave-way-to-speed-up-india-middle-east-europe-economic-corridor-638524.html Sun, 14 Sep 2025 19:19:00 +0530 https://dailyworld.in/business/israel-must-pave-way-to-speed-up-india-middle-east-europe-economic-corridor-638525.html New Delhi Sep 14 The IndiaMiddle EastEurope Economic Corridor IMEC initiative has the potential to change the face of global trade and transportation as well as digital and energy connectivity but has received a setback due to the ongoing conflict in Gaza between Israel and Hamas The IMEC initiative offers benefits to all the participating countries possessing a great potential to leverage the economic growth of Europe India and the Gulf And it also grants Israel an opportunity to enhance its significance and role in the international arena on strategic economic and geographic levelsThe government of Israel should prioritize taking steps to implement the IMEC project once its war against Hamas is over according to an article by Uzay Bulut published in JNSIndia the European Union UAE France Germany Italy Saudi Arabia and the United States signed a Memorandum of Understanding to build an economic system by creating a multimodal network of railways ports and highways to boost trade efficiency and regional collaboration These will become a vital artery of global commerce and a potential alternative to Chinas Belt and Road InitiativeThe corridor is expected to connect India the Middle East and Europe with the support of Washington When completed it will likely include three major Mediterranean Sea ports Haifa in Israel Piraeus in Greece and Trieste in Italy the article points outFor Israel the IMEC represents more than an economic opportunity it is a pathway to redefine its strategic regional status and geopolitical alignments according to Mordechai Chaziza of the University of HaifaIsraeli Prime Minister Benjamin Netanyahu has framed the corridor as a transformative platform for Israeli integration into Arab economies and global supply chainsAccording to initial estimates IMECs overland transportation route could reduce logistics costs by 30 per cent and transportation time by 40 per cent relative to shipping via the Suez Canal The new route would also likely provide important structural benefits such as reducing the risk of supply chain shocks and lowering energy costsThe Hamasled terrorist attacks in southern Israel on October 7 2023 and the ensuing war with Hamas in Gaza came as a major setback for implementing the project Just weeks after the IMEC memorandum of understanding was signed at the G20 Summit Hamas invaded IsraelThe escalating regional instability particularly from Irans regional proxies has effectively led to the halting of this significant initiative as well as a SaudiIsraeli normalization deal the article statesWhile normalization would certainly ease political and logistical hurdles its not an absolute requirement and the project could still move forward with careful diplomatic management wrote Rachel Rizzo and Nicholas Shafer for the Atlantic CouncilHence it appears that the quicker Israel manages to stabilize the Gaza situation the sooner it will be able to focus on doing its part to make this project a realityAn article by Nir Levitan and professors Arie Reich and Jonathan Rynhold notes some suggestions to realize the economic potential of IMEC To make the agreement a reality and attract private and governmental investment several initial steps are required including the creation of a multilateral agreement to establish an institutional framework for a structured and systematic dialogue between the participating countries A dedicated body should be established to attract private investment and promote infrastructure development among the participating countriesVia this corridor the United States and European Union seek to bolster their connectivity with South Asia and the Gulf aiming to align their strategic objectives and counter Chinas growing regional influenceSeveral European countries have since appointed special envoys to the IMEC including France and Italy Under its framework Israel and Cyprus announced new energy development projects in May calling to relaunch the IsraelCyprusGreece trilateral forumIt is now important for Europe the United States and Israel to double down on their support so that more progress for this initiative can be achieved the article added IANS https://dailyworld.in/business/israel-must-pave-way-to-speed-up-india-middle-east-europe-economic-corridor-638525.html Sun, 14 Sep 2025 19:19:00 +0530 https://dailyworld.in/business/pm-modi-to-launch-swasth-nari-sashakt-parivar-abhiyaan-on-sep-17-638528.html New Delhi Sep 14 Prime Minister Narendra Modi will launch a new nationwide campaign Swasth Nari Sashakt Parivar Abhiyaan on September 17 Ministry of Health and Family Welfare said on Sunday The initiative which will run along with the 8th edition of Poshan Maah is aimed at improving healthcare and nutrition services for women adolescent girls and children across IndiaThe campaign is being jointly led by the Ministry of Health and Family Welfare MoHFW and the Ministry of Women and Child Development MoWCDUnder the programme the Health Ministry will provide preventive promotive and curative health services through health camps and facilities across the countryAt the same time the Women and Child Development Ministry will mobilise women and girls through Anganwadi centres and organise largescale nutrition counselling and recipe demonstrations as part of Poshan MaahThe Abhiyaan is designed to strengthen screening early detection and treatment of diseases such as anaemia tuberculosis sickle cell disease and other noncommunicable illnessesIt will also focus on maternal child and adolescent health with services like antenatal care immunisation menstrual hygiene awareness and mental health counsellingAlongside this the campaign will encourage healthy lifestyles better diets obesity prevention and voluntary blood donation drivesUnion Health Minister JP Nadda said the initiative will ensure better access quality care and awareness for women and children across IndiaHe also appealed to private hospitals and healthcare providers to join the campaign describing it as a Jan Bhagidaari Abhiyaan that requires collective effortFrom September 17 to October 2 over one lakh health camps will be held at Ayushman Arogya Mandirs community health centres district hospitals and other government facilitiesPublic representatives including central and state ministers MPs and local leaders will take part in the campaignGroundlevel workers such as ASHAs Anganwadi workers SHGs and youth volunteers will play a key role in mobilising communitiesThe campaign will cover specialist services in gynaecology paediatrics dental care dermatology eye and ENT care and mental health supported by AIIMS defence and railway hospitals ESIC centres and private hospitalsScreening for cancers anaemia tuberculosis and sickle cell disease will be a major focus particularly in tribal areasNutrition counselling healthy recipe demonstrations Annaprashan ceremonies and the Eat Right initiative of FSSAI will spread awareness about balanced dietsDigital health services will also be promoted with enrolment under Ayushman Bharat schemes ABHA health IDs and grievance redressal helpdesks at campsAYUSH services such as yoga and Ayurveda consultations will be part of the drive Youth participation will be encouraged through cultural events awareness campaigns and pledges for blood and organ donationSeveral ministries including Rural Development Panchayati Raj Education Youth Affairs Tribal Affairs Railways Defence and Ayush will collaborate to make the initiative a wholeofgovernment and wholeofsociety effort IANS https://dailyworld.in/business/pm-modi-to-launch-swasth-nari-sashakt-parivar-abhiyaan-on-sep-17-638528.html Sun, 14 Sep 2025 19:51:00 +0530 https://dailyworld.in/business/up-govt-charts-roadmap-for-6-trillion-economy-by-2047-special-focus-on-ai-green-energy-agri-tech-sectors-638537.html Lucknow Sep 14 IANS The Uttar Pradesh government is envisioning and preparing a concrete action plan to realise the vision of Viksit Uttar Pradesh Samarth Uttar Pradesh 2047nbspThe Yogi Adityanathled government aims to make Uttar Pradesh a 1 trillion economy by 2030 and a 6 trillion economy by 2047nbspA special focus has been placed on futureoriented industries including artificial intelligence AI biotechnology green energy and agritech for achieving this objectivenbspA blueprint is also being prepared across 12 key sectors including agriculture IT and emerging technology health education industry social welfare rural and urban development tourism hospitality livestock sustainable development and governanceThe framework rests on three missions Samagra Vikas allround development Aarthik Netrutva economic leadership and Sanskritik Punarjagran cultural renaissance and three themes of Arth Shakti Srijan Shakti and Jeevan ShaktinbspNotably the state has long been counted among the Bimaru states due to weak law and order poor infrastructure and lack of investor confidencenbspHowever in recent years Uttar Pradesh has seen significant improvement in the security landscape through police modernisation commandandcontrol centres and Operation Conviction which boosted conviction ratesThis has restored investor trust leading to record investments of more than Rs 45 lakh crore at the 2023 UP Global Investors Summit of which Rs 15 lakh crore has already been grantednbspMoreover the state government is focusing on employment generation through Global Capability Centres GCCs and IT hubsnbspRenewable energy smart city infrastructure and supply chain development are also expected to generate millions of medium and lowskilled jobsnbspIn rural areas agritech and cold chain projects are expected to boost local employment and reduce urban migrationnbspSkills development schemes and private partnership initiatives will make this employment roadmap practical and achievableChief Minister Yogi Adityanath has set itself a target of 6 trillion economy by 2047nbspTo achieve this Uttar Pradesh will need to maintain a continuous annual growth rate of 16 per centnbspThe Uttar Pradesh government has introduced a GCC policy to turn cities like Noida and Lucknow into hubs for Fortune 500 companiesnbspUttar Pradesh is now making future industries like AI biotechnology renewable energy agritech quantum cybersecurity and the metaverse as the foundation of its economynbspExperts believe that highvalue services green manufacturing and agritech reforms will take Uttar Pradesh toward a 6 trillion economynbspGCCs and ITAI hubs will increase services exports renewable and emobility clusters are set to accelerate manufacturing and exports while agriculturebased processing will strengthen the rural economynbspSectors like biotechnology and medical research and development are expected to create specialised employment and export opportunities https://dailyworld.in/business/up-govt-charts-roadmap-for-6-trillion-economy-by-2047-special-focus-on-ai-green-energy-agri-tech-sectors-638537.html Sun, 14 Sep 2025 20:51:00 +0530 https://dailyworld.in/business/gst-revamp-to-enhance-mobility-promote-healthier-lifestyles-for-youth-638397.html New Delhi Sep 14 The GST reductions are more than tax changes they are transformational enablers that improve affordability enhance mobility promote healthier lifestyles and strengthen key industries the government said on Sunday By lowering GST rates on gymsfitness centres twowheelers and small cars the Government has not only reduced the financial burden on households but also advanced its longterm vision of promoting healthier lifestyles affordable transportation and improved ease of livingThese steps will directly benefit the middle class youth and working professionals while also stimulating demand in key sectors of the economy according to the governmentThe GST reduction on gyms and fitness centres from 18 per cent to 5 per cent marks a decisive step towards building a healthier and more active IndiaFitness which was earlier considered a luxury by many is now being made accessible to wider sections of society This aligns with the broader public health agenda of preventive care and wellness promotionThis measure complements national preventive health initiatives such as the Fit India Movement which encourages citizens to prioritise regular exercise and lifestyle changes to prevent chronic illnessesThe GST on twowheelers bikes up to and including 350cc have been cut from 28 per cent to 18 per centTwowheelers are more than just vehicles they are a lifeline of mobility for millions of Indians especially in rural and semiurban areas The reduction in GST brings meaningful relief to lowermiddleclass households young professionals and gig workers who depend on affordable transport for their livelihood and daily needs said the governmentThe reduction in GST makes small cars more affordable encouraging firsttime buyers to invest in personal mobility solutionsCompact cars are most popular in semiurban and rural markets Lower GST will accelerate sales in these regions strengthening the auto industrys rural footprintAffordable small cars expand mobility options for young professionals working parents and students making daily commuting easier and more reliableBy boosting the auto sector the move also supports job creation in manufacturing sales services and financing reinforcing Indias growth momentumTogether GST reforms measures represent a significant push towards the governments vision of economic selfreliance citizen empowerment and improved ease of living for every Indian IANS https://dailyworld.in/business/gst-revamp-to-enhance-mobility-promote-healthier-lifestyles-for-youth-638397.html Sun, 14 Sep 2025 11:19:00 +0530 https://dailyworld.in/business/mcap-of-8-most-valued-firms-jumps-by-rs-169-lakh-crore-amid-market-rally-638403.html New Delhi Sep 14 The combined market value of eight of the countrys top10 most valuable companies increased by Rs 169 lakh crore last week in line with the positive trend on Dalal Street During the week the BSE benchmark rose by 119394 points or 147 per cent boosting investor sentimentBajaj Finance turned out to be the biggest gainer among them Among the top companies HDFC Bank TCS Bharti Airtel ICICI Bank State Bank of India Infosys and Bajaj Finance saw growth in their valuations while Hindustan Unilever and LICs market cap eroded during the weekBajaj Finances market value jumped by Rs 4078838 crore to reach Rs 624 lakh crore Infosys added Rs 3373683 crore taking its valuation to Rs 633 lakh croreTata Consultancy Services TCS gained Rs 3097083 crore pushing its market capitalisation to Rs 1133 lakh croreState Bank of Indias valuation climbed by Rs 1509206 crore to Rs 759 lakh crore while ICICI Banks value rose by Rs 1064491 crore to Rs 1012 lakh croreHDFC Bank saw a smaller rise of Rs 614163 crore taking its valuation to Rs 1484 lakh crore Bharti Airtels market value increased by Rs 439062 crore to Rs 1085 lakh croreOn the other hand Hindustan Unilevers market capitalisation fell by Rs 1242934 crore to Rs 606 lakh crore while Life Insurance Corporation of India LIC lost Rs 145475 crore slipping to Rs 553 lakh croreAt the end of the week HDFC Bank remained among the most valued company followed by TCS Bharti Airtel ICICI Bank State Bank of India Infosys Bajaj Finance Hindustan Unilever and LICMeanwhile the combined market valuation of seven of the top 10 most valued firms jumped Rs 10625095 crore for the week ended September 7Bajaj Finance was the biggest gainers for the same week as the BSE benchmark jumped 90111 points or 112 per cent IANS https://dailyworld.in/business/mcap-of-8-most-valued-firms-jumps-by-rs-169-lakh-crore-amid-market-rally-638403.html Sun, 14 Sep 2025 11:49:00 +0530 https://dailyworld.in/business/gst-reforms-have-reduced-tax-burden-on-people-nirmala-sitharaman-638449.html Chennai Sep 14 Union Finance Minister Nirmala Sitharaman on Sunday said that the Goods and Services Tax GST reforms have reduced the tax burden on people Addressing the Joint Conclave of Trade and Industries Association Tax Reforms for Rising Bharat in Chennai she explained that the fourtier GST structure has now been simplified to just two slabsEarlier GST had four categories Now we have simplified it into two slabs 5 per cent and 18 per cent Items that were taxed at 12 per cent and 18 per cent have largely been moved to the lower 5 per cent bracket For certain essentials tax has been reduced to zero This reform will significantly benefit all 14 billion Indians FM Sitharaman saidThe changes the biggest overhaul since GST was introduced in 2017 will see the current 5 per cent 12 per cent 18 per cent and 28 per cent structure replaced with just two rates 5 per cent and 18 per centAdditionally a special 40 per cent tax bracket has been introduced for goods considered harmful or excessively luxurious including cigarettes tobacco pan masala soft drinks and highend luxury carsPrime Minister Narendra Modi had hinted at the shift during his Independence Day address from the Red Fort underlining the governments intent to ease the common mans burden before the festive seasonThe revised rates will come into effect on September 22 just ahead of DiwaliGovernment officials pointed out that the timing of the announcement was deliberate keeping in mind the major festivals across regionsWhile Diwali drives consumer demand for clothing and household goods in the south Navratri and Durga Puja boost purchases in the north The GST Council with representatives from all states and Union Territories unanimously approved the reformThe Centre expects the simplified structure to immediately bring down prices of essential goods spur consumption and boost economic activityCalling it a collective achievement she said This is not just a tax cut it is a victory for every citizen IANS https://dailyworld.in/business/gst-reforms-have-reduced-tax-burden-on-people-nirmala-sitharaman-638449.html Sun, 14 Sep 2025 13:58:00 +0530 https://dailyworld.in/business/from-morning-tea-to-dinner-gst-benefits-in-everything-fm-sitharaman-638450.html New Delhi Sep 14 The Goods and Services Tax GST is now making its presence felt in every corner of daily life Union Finance Minister Nirmala Sitharaman said on Sunday Speaking at an event in Chennai she highlighted how the impact of recent GST reforms can be seen from the moment people wake up to when they go to bed benefiting citizens in everything from their morning tea to their dinnernbspFM Sitharaman explained that before the introduction of GST only about 66 lakh businesses were part of the tax systemnbspIn the last eight years this number has risen to 15 crore a growth she attributed to the governments transparent and simplified tax policies the Finance Minister addedThe finance minister further said that over the past eight months the government has worked to make tax classifications simpler and clearer so that businesses face no confusion She emphasised that the reforms would lower the input costs of many products which would reduce overall production expenses and eventually ease prices for consumersnbspHighlighting one of the major changes FM Sitharaman said that 99 per cent of the goods that earlier came under the 12 per cent GST slab have now been brought under the 5 per cent bracketnbspFM Sitharaman stressed that this move will make everyday items more affordable giving direct relief to common peopleThe ease of the system has not only encouraged distributors but also manufacturers to join in FM Sitharaman stated The gross GST collection has increased to Rs 2208 lakh crore from Rs 718 lakh crore in 2018 benefiting both the people and state governments the Finance Minister addednbspSome may have criticised me saying I only know how to put people in trouble but were working for the nation State ministers have been part of the GST Council since its inception and this decision was made collectively FM Sitharaman added IANS https://dailyworld.in/business/from-morning-tea-to-dinner-gst-benefits-in-everything-fm-sitharaman-638450.html Sun, 14 Sep 2025 13:58:00 +0530 https://dailyworld.in/business/act-east-centre-implements-series-of-transformative-initiatives-to-boost-inclusive-growth-638210.html New Delhi Sep 13 To accelerate inclusive growth in the northeastern region the Central Government has implemented a series of transformative initiatives under its Act East vision The Railways Ministry is spearheading a massive transformation in the region with record investments aimed at bridging infrastructure gaps and boosting connectivityAccording to the government data since 2014 the railway budget allocation for the region has increased fivefold reaching a cumulative Rs 62477 crore including Rs 10440 crore for the current fiscal yearRailway projects worth Rs 77000 crore are currently underway along with BairabiSairang railway line in Mizoram marking the highest level of investment the region has ever seenBuilt at a cost of over Rs 8000 crore the 51kilometre BairabiSairang railway line will connect Aizawl to the national railway network for the first time since independenceWith 143 bridges and 45 tunnels constructed across challenging terrain the construction is an engineering marvel with one of the bridges taller than Qutub Minar as per the official statementThe Ministry of Road Transport and Highways MoRTampH has constructed 16207 km of National Highways in the northeastA notable example of this commitment is the approval of a 15km road construction project between Mangaldoi and Mazikuchi in Assam costing Rs 4531 crore Approved in August 2025 the project will be implemented under the North East Special Infrastructure Development Scheme NESIDS Roads the official statement saidMoreover under the Pradhan Mantri Gram Sadak Yojana PMGSY 17637 road works covering 89436 km and 2398 bridges have been sanctioned in the region Of these 16469 road works spanning 80933 km and 2108 bridges have been completed significantly improving lastmile connectivity in remote and rural areasAlso multiple governmentfunded projects including BharatNet and others supported by Digital Bharat Nidhi have enhanced digital connectivity in the northeast by making Gram Panchayats serviceready and commissioning mobile towers across the regionThe Ministry of Civil Aviation has introduced the Regional Connectivity Scheme UDAN to improve air travel access from airports that were previously unserved or underserved This initiative has helped establish numerous routes linking various airports and heliports across the North Eastern RegionThe Ministry of Development of North Eastern Region MDoNER is providing financial assistance to the eight Northeast states to support developmental projects linked to infrastructure connectivity and communication This is being done through five Central Sector Schemes NESIDS Roads NESIDS OTRI PMDevINE Schemes of North Eastern Council NEC and Special Development Packages SDPsNotably the Prime Ministers Development Initiative for North East Region PMDevINE is a 100 per cent centrally funded Central Sector Scheme announced in the Union Budget 202223The scheme has a total outlay of Rs 6600 crore for the fouryear period from 202223 to 202526Its objectives are to fund infrastructure projects in a convergent manner in line with the PM GatiShakti framework support social development initiatives based on the regions specific needs enable livelihood opportunities for youth and women and address development gaps across various sectors in the northeastA recentlyorganised Rising Northeast Investors Summit 2025 attracted Rs 448 lakh crore in investment interest particularly in key sectors such as energy agrofood processing tourism textiles healthcare education IT entertainment infrastructure and logistics IANS https://dailyworld.in/business/act-east-centre-implements-series-of-transformative-initiatives-to-boost-inclusive-growth-638210.html Sat, 13 Sep 2025 11:17:00 +0530 https://dailyworld.in/business/aimed-welcomes-govts-gst-rate-cut-mrp-implementation-relief-for-medical-devices-638219.html New Delhi Sep 13 The Association of Indian Medical Device Industry AiMeD on Saturday welcomed the timely directions issued by the Department of Pharmaceuticals DoP National Pharmaceutical Pricing Authority NPPA and the Central Drugs Standard Control Organisation CDSCO to ensure smooth implementation of the revised GST rates on drugs formulations and medical devices effective from September 22 The Office Memorandum issued by DoPNPPA on Friday clarified that while manufacturers and marketers are required to revise Maximum Retail Prices MRPs to reflect reduced GST recalling or relabelling of existing stock already released in the market will not be mandatory provided price compliance is ensured at the retailer levelCDSCO has further permitted the use of stickering on medical devices Class C and D within three months to reflect revised MRPs thereby easing operational challenges for importers and manufacturersThis is a timely and pragmatic step by the government that addresses an important operational challenge faced by retailers manufacturers importers and distributors whenever GST rates are revised said Rajiv Nath Forum Coordinator AiMeDThe provision ensures compliance consumer transparency and prevents wastage of packaging material while also safeguarding the industry against undue stock losses We appreciate that the government has struck the right balance between protecting consumer interests and supporting industry ease of doing business Nath addedWhile the NPPA communication does not specify penalties for noncompliance it has the authority to monitor prices of drugs and medical devices and can take corrective actionNoncompliance with NPPAs price notifications can lead to prosecution under the Essential Commodities Act 1955 which may result in imprisonment and finesThe allowance to use existing packaging material by DoCA till December 31 is a costsaving very welcome measure that will benefit MSMEs and reduce unnecessary waste We urge all industry members as well as our channel partners and stakeholders to strictly comply with the guidelines and issue prompt public notifications to ensure transparency and consumer trust Nath saidHe added await clarification for applicability for Class A and B medical devices as well as on preprinted flexible packaging stocks with prior MRP for small packs of disposable medical devices like needles where online overprinting may be a challengeThe decision on GST reforms of refund on GST paid on services and on capital expenditure as is available in many countries globally is also pendingNath said that this reduction of prices is possible to be globally competitive as the purpose of GST was to tax value addition at each step of the supply chain and not cause working capital stress to manufacturers or traders IANS https://dailyworld.in/business/aimed-welcomes-govts-gst-rate-cut-mrp-implementation-relief-for-medical-devices-638219.html Sat, 13 Sep 2025 12:23:00 +0530 https://dailyworld.in/business/adani-power-signs-pact-to-supply-2-400-mw-power-to-bihar-638226.html New Delhi Sep 13 In a significant development Adani Power Ltd APL has signed a 25year power supply agreement with Bihar State Power Generation Company Ltd BSPGCL to supply 2400 megawatt MW of power to the state the Adani Groups firm said on Saturday Under the agreement the Indias largest private sector thermal power generator would supply the proposed power from a greenfield ultra super critical plant to be set up at Pirpainti in Bhagalpur district of BiharThe development came after a Letter of Award LoA by BSPGCL to APL on behalf of North Bihar Power Distribution Company Ltd NBPDCL and South Bihar Power Distribution Company Ltd SBPDCL in AugustAdani Power won the project by offering the lowest supply rate at Rs 6075 per kWhThe company is planning to invest approximately 3 billion to build the new plant 800 MW X 3 and its supporting infrastructure under the Design Build Finance Own and Operate DBFOO model the APL informedThe coal linkage for the power plant has been allocated under the SHAKTI Policy of the government of IndiaDuring the construction phase the project will generate around 10000 to 12000 direct and indirect employment Once it becomes operational it will employ 3000 peopleAPL aims to commission the plant in 60 monthsEarlier in a firstofitskind adoption of the greenshoe option in a thermal power tender in India APL was awarded a total of 1600 MW capacity by MP Power Management Company Limited MPPMCLThe company received a LoA from MPPMCL awarding 800 MW additional capacity under the Greenshoe OptionBoth units 800MW x 2 in Anuppur district Madhya Pradesh will be commissioned within 60 months of the appointed dateAPL said that it will invest around Rs 21000 crore towards setting up the plant and related infrastructureThe project is expected to generate direct and indirect employment of 900010000 during the construction phase and 2000 once in operation IANS https://dailyworld.in/business/adani-power-signs-pact-to-supply-2-400-mw-power-to-bihar-638226.html Sat, 13 Sep 2025 12:59:00 +0530 https://dailyworld.in/business/pfizer-moderna-shares-slump-as-us-govt-plan-to-link-covid-vaccines-to-child-deaths-report-638227.html Mumbai Sep 13 Shares of US pharma giants fell over 3 per cent following reports indicating that the US health administration officials intend to associate coronavirus vaccines with the deaths of 25 children Pfizers stock declined by over 3 per cent Modernas fell by more than 7 per cent and Novavax decreased by more than 4 per cent overnightThe selloff occurred after reports indicated that the claim will be presented next week to the US Centers for Disease Control and Preventions CDC vaccine advisory panel which determines US immunisation policyThe American health officials plan to cite paediatric deaths flagged in the Vaccine Adverse Event Reporting System VAERS a federal database of unverified selfreports regarding vaccine side effects according to a report by The Washington PostThe CDC has cautioned that VAERS alone cannot prove a causal link between vaccines and deathsCareer scientists expressed alarm at the governments plan as they say studies indicated that Covid vaccines are safe for children while the risks associated with the virus are being downplayedThe CDC data from June revealed that at least 25 children died following Covidrelated hospitalisations since July 2023 and none of the vaccineeligible children were up to date on their shotsThe Advisory Committee on Immunisation Practices ACIP will convene next week to assess new claims and revise vaccine recommendationsMultiple paths are being considered with one being to restrict younger adults without preexisting conditions from routine vaccinationIn response Moderna said its vaccine safety is rigorously monitored by regulators in more than 90 countries with no new safety risks identified in children or pregnant womenA recent study by JAMA Pediatrics which included over 10 million children aged 5 to 11 who were vaccinated with the mRNA shots from Pfizer and Moderna claimed that the shots reduced the risk of infection and hospitalisation in vaccinated children compared to kids who didnt get vaccinated IANS https://dailyworld.in/business/pfizer-moderna-shares-slump-as-us-govt-plan-to-link-covid-vaccines-to-child-deaths-report-638227.html Sat, 13 Sep 2025 13:01:00 +0530 https://dailyworld.in/business/logistics-and-industrial-leasing-in-india-poised-to-cross-60-msf-by-year-end-report-638261.html New Delhi Sep 13 The gross logistics and industrial LampI leasing is expected to cross 60 million square feet MSF by yearend and would set a new benchmark for the sector following strong demand a report said on Saturday In the first half of 2025 H1 2025 the growth of leasing across warehousing and industrial segments remains in doubledigit with total leasing at 307 MSF a 216 per cent increase yearonyear YoY and 121 per cent higher than H2 2024 Cushman and Wakefield a real estate services firm said in a reportThe performance underlines the sectors strong fundamentals with leasing activity surpassing 50 MSF annually for the last three consecutive yearsWith momentum holding strong gross leasing is expected to cross 60 MSF by yearend setting a new benchmark for Indias Logistics amp Industrial marketAccording to the report warehousing remained the dominant driver accounting for 219 MSF of leasing and representing 713 per cent while industrial space contributed 88 MSF making up 287 per cent of the total leasingFrom a sectoral perspective engineering and manufacturing EampM led overall leasing with 97 MSF accounting for 32 per cent of total absorption and recording a 37 per cent YoY growthThis reflects the manufacturing sectors growing role in Indias selfreliant economy aided by infrastructure upgrades and supportive policies 3PL operators leased 74 MSF representing a 24 per cent share and showcasing stable growth indicating market maturity after earlier expansion waves the report notedThe Ecommerce sector recorded the sharpest annual surge with 158 per cent YoY growth to reach 46 MSF and capture a 15 per cent share of total leasing driven by festive season stocking and lastmile network expansionAbhishek Bhutani Managing Director Logistics and Industrial Services India Head Gujarat Cushman and Wakefield said H1 performance reinforces how Indias logistics and industrial sector has moved beyond cyclical swings to demonstrate structural strengthThe consistency of demand across segments highlights that occupiers are no longer only chasing capacity but also efficiency location and longterm value What stands out is the sharper role of manufacturing and the resurgence of ecommerce which together are reshaping supply chain strategies he addedWith strong demand fundamentals a healthy supply pipeline of 25 MSF of GradeA warehousing is expected over the next 23 years and supportive policy measures Indias logistics and industrial real estate sector is poised to maintain its upward trajectory through 2025 the report said IANS https://dailyworld.in/business/logistics-and-industrial-leasing-in-india-poised-to-cross-60-msf-by-year-end-report-638261.html Sat, 13 Sep 2025 14:28:00 +0530 https://dailyworld.in/business/kavin-bharti-mittal-shuts-down-hike-after-indias-ban-on-real-money-gaming-638266.html New Delhi Sep 13 Kavin Bharti Mittal son of Bharti Airtel chairman Sunil Bharti Mittal has announced the shutdown of his startup Hike after Indias blanket ban on realmoney gaming The decision marks the end of a venture that once began as a messaging app to rival WhatsApp and later pivoted to gaming through its platform RushIn a note shared on Substack Mittal said After regrouping with our investors and the team Ive made the difficult decision to wind down Hike completelyHe added that although Hikes US business launched just nine months ago was showing strong growth the India ban made global scaling difficultScaling globally would require a full recap a reset that is not the best use of capital or time he explainedHike had about 100 employees working across India the US Dubai and Singapore functioning in small highly skilled teams that Mittal described as SWAT teamsThe company had initially started as a messaging app in 2016 but shut it down in January 2021 shifting its focus to casual realmoney gamingRush its flagship platform offered 14 mobile games with moneybased play and integrated Web3 features like user ownership and playtoearn mechanicsThe company was backed by some of the biggest global investors including SoftBank Tencent Tiger Global Bharti Foxconn Jump Crypto Tribe Capital Republic and PolygonProminent individual investors such as Rajeev Misra Elad Gil and Zynga founder Mark Pincus were also on boardRush had seen significant traction in India with 10 million users and over 500 million in gross revenue in just four yearsThe platform claimed more than 5 million players across its games and reported yearly winnings of around 480 millionDespite these achievements the sudden ban on realmoney gaming in India forced Mittal to shut operationsCalling it both a disappointment and a hard outcome he said he remains optimistic The learnings are invaluable and my conviction for whats next is even stronger he wrote IANS https://dailyworld.in/business/kavin-bharti-mittal-shuts-down-hike-after-indias-ban-on-real-money-gaming-638266.html Sat, 13 Sep 2025 15:15:00 +0530 https://dailyworld.in/business/pakistans-surveillance-of-its-citizens-not-security-but-tyranny-report-638301.html New Delhi Sep 13 The track record of Pakistans current civilmilitary regime paints a bleak picture of the countrys future It can continue down the Chinese path perfecting the machinery of digital authoritarianism while hollowing out its democratic promises or it can confront the reality that surveillance without oversight is not security but tyranny according to a new report For years Pakistan has been accused of spying on its own citizens Earlier these efforts were scattered bugged hotel rooms leaked phone calls and occasional internet blackouts said the report by The Milli ChronicleBut in recent times this has turned into a highly organised surveillance system backed by new technologies and international partnershipsAt the centre of this transformation is Pakistans growing dependence on ChinaBeijing often called the global architect of digital authoritarianism has become not just a financial and military partner but also the key supplier of tools that allow governments to control the flow of informationThrough its Digital Silk Road initiative China has exported surveillance systems firewalls and censorship models to countries like PakistanIn 2023 Pakistan introduced the Web Monitoring System 20 WMS 20 developed with Chinese companies like Geedge Networks and the stateowned China Electronics CorporationThis system similar to Chinas Great Firewall can block websites detect VPNs and throttle internet trafficInstead of simply censoring content it is designed to detect and suppress dissent before it can spreadBut Chinese tools are not the only ones in use Pakistan has also adopted Europeanmade surveillance systems such as the Lawful Intercept Management System LIMS which can track the digital activity of millions of people at onceWhile European countries restrict how these systems are used Pakistan lacks such safeguards giving its spy agencies neartotal freedom to monitor citizensAuthorities defend these measures in the name of national security but the main targets often turn out to be journalists human rights activists and political dissidentsReports of leaked WhatsApp calls blocked investigative stories and the intimidation of activists have become commonIn Balochistan entire regions face internet blackouts that last for months or even years cutting people off from the outside world and silencing campaigns against enforced disappearancesCritics say this is less about fighting terrorism and more about protecting the military establishment from accountabilityBy adopting Chinas model Pakistan is shifting further away from democracy and normalising the idea that dissent is a crimeThe consequences extend beyond Pakistans borders If a fragile democracy like Pakistan embraces Chinesestyle digital authoritarianism it signals to other countries that repression can be imported and democracy can be bypassedPakistan now stands at a crossroads It can choose transparency accountability and the rule of law or continue building a surveillance state that silences its citizensFor now the latter path seems more tempting to those in power But in choosing this route Pakistan risks trading its democratic promises for a future of fear and repression IANS https://dailyworld.in/business/pakistans-surveillance-of-its-citizens-not-security-but-tyranny-report-638301.html Sat, 13 Sep 2025 17:21:00 +0530 https://dailyworld.in/business/apple-sees-strong-demand-for-made-in-india-iphone-17-638318.html New Delhi Sep 13 The demand for Apples new iPhone 17 series is rising fast in India with industry sources saying preorders have been stronger than last year The surge comes at a time when Apple has been steadily increasing its Made in India push expanding both local manufacturing and retail presence in the countryPreorders for the iPhone 17 and iPhone 17 Pro which opened on September 12 have seen high interest across Apples online store its retail outlets in Mumbai Delhi Pune and BengaluruSources said Apples latest model has managed to create a strong buzz among Indian consumers with the new iPhone 17 Air also attracting attention for its titanium design that is light sleek and durableApple is betting big on India not just as a market but also as a manufacturing hub The company has been expanding its retail network to meet growing demandEarlier this month it added two new stores in Bengaluru and Pune timed just before the iPhone 17 launchApple first entered Indias retail space in April 2023 with its flagship Mumbai store at Bandra Kurla Complex BKC followed by Apple Saket in DelhiTogether the two stores clocked around Rs 800 crore in revenue in their debut year making them Apples topperforming outlets globallyWhat stood out was that nearly 60 per cent of this revenue came from the smaller Saket store showing the strength of Apples growing Indian consumer baseThis was despite the company already having a large network of premium resellers and strong online partnerships with Flipkart and AmazonThe iPhone 17 lineup starts at Rs 82900 for the base 256GB model The new iPhone Air designed as a slimmer and more premium version is priced at Rs 119900The iPhone 17 Pro begins at Rs 134900 while the topend iPhone 17 Pro Max 256GB costs Rs 149900This years launch also marks Apples first upward revision in entrylevel pricing since the iPhone 12 series in 2020 However the higher price comes with more storageThe base iPhone 17 now offers 256GB double the 128GB that came with the iPhone 16 On a storagetostorage comparison the iPhone 17 is actually Rs 7000 cheaper than the iPhone 16s 256GB variant at launch IANS https://dailyworld.in/business/apple-sees-strong-demand-for-made-in-india-iphone-17-638318.html Sat, 13 Sep 2025 18:42:00 +0530 https://dailyworld.in/business/psbs-now-positioned-to-play-larger-role-towards-viksit-bharat-2047-top-govt-official-638337.html New Delhi Sep 13 Public Sector Banks PSBs have moved beyond survival and stability and are now ready to play a bigger role in driving Indias journey towards Viksit Bharat 2047 a top government official said on Saturday Speaking at PSB Manthan 2025 a twoday programme organised by the Department of Financial Services DFS in Gurugram M Nagaraj Secretary Financial Services underlined that PSBs must now aspire for global competitiveness strengthen governance and expand their role as champions of both traditional and emerging industriesPublic Sector Banks have moved beyond the phase of survival and stability and are now positioned to play a larger role as champions of growth innovation and leadership in the journey towards Viksit Bharat 2047 Nagaraj statedDuring the twoday deliberations participants discussed key issues such as improving customer experience enhancing governance promoting purposeful innovation ensuring sustainable credit growth risk management workforce readiness and modernising technology systemsExperts stressed that PSBs must reimagine customer journeys in a digital era simplify processes and deliver seamless services while strengthening customer trustThe event brought together senior leadership of PSBs along with regulators industry experts technologists and academiciansEminent speakers included RBI Deputy Governor Swaminathan J Chief Economic Adviser Dr V Anantha Nageswaran former SEBI Chairman M Damodaran and several former deputy governors of RBI and chairmen of SBI among othersOne of the central themes was technology transformation Speakers highlighted the need for PSBs to move beyond legacy systems and adopt agile interoperable platforms that can integrate with Indias digital public infrastructureThey also emphasised building strong cyber resilience and adopting Artificial Intelligence responsibly with proper safeguards against risksThe discussions also focused on collaboration with fintechs academia and global institutions to accelerate innovationWhile deepening traditional strengths in agriculture MSMEs housing and infrastructure PSBs were urged to take the lead in supporting sunrise sectors such as renewable energy electric mobility semiconductors shipbuilding and green hydrogenSpeakers further stressed that PSBs must aspire to become globally competitive banks with the capacity to support Indian enterprises overseas and stand alongside top global financial institutions IANS https://dailyworld.in/business/psbs-now-positioned-to-play-larger-role-towards-viksit-bharat-2047-top-govt-official-638337.html Sat, 13 Sep 2025 19:32:00 +0530 https://dailyworld.in/business/amfi-hails-sebis-move-to-ease-ipo-mutual-fund-and-fpi-regulations-638341.html New Delhi Sep 13 Association of Mutual Funds in India AMFI on Saturday hailed the regulatory changes introduced by the Securities and Exchange Board of India Sebi simplifying norms for IPO and foreign portfolio investors Sebi in its recent board meeting decided to revise the minimum public shareholding MPS norms for large companies planning initial public offerings IPOsWe welcome SEBIs progressive and wellcalibrated reforms announced at its recent Board Meeting The new incentive structures to expand mutual fund penetration beyond the top 30 cities and among women investors align closely with AMFIs financial inclusion objectives said Venkat N Chalasani Chief Executive AMFIThe reduction in the maximum exit load from 5 per cent to 3 per cent further reinforces SEBIs commitment to investor protection and transparencyThe reclassification of REITs as equity for mutual fund investments is also a timely step that will enhance diversification opportunities and support the growth of real estate as an investible asset class Chalasani addedTaken together these initiatives will broaden investor participation strengthen the longterm health of the mutual fund industry and strike a thoughtful balance between regulatory rigour investor protection and ease of doing business he said furtherEarlier SEBI announced a series of regulatory changes including a major relaxation in IPOs ease for FPIs planning to invest in the domestic market and simplifying entry norms for advisory certificationsUnder the new norms companies with a market capitalisation of Rs 50000 crore to Rs 1 lakh crore will now get more time to meet the public shareholding requirementsThey will be required to achieve 15 per cent MPS within five years of listing and 25 per cent within 10 yearsAt present companies are required to meet the 25 per cent threshold within three yearsAdditionally a new category of alternative investment funds that are exclusively available to accredited investors AI has been approved According to a SEBI announcement the minimum ticket size for Large Value Funds has been reduced from Rs 70 crore to Rs 25 croreThe new SWAGATFI framework which offers 10year registrations a single demat account and exemptions from the FVCI rule requiring 66 per cent of corpus in unlisted equity will benefit sovereign wealth funds and pension funds IANS https://dailyworld.in/business/amfi-hails-sebis-move-to-ease-ipo-mutual-fund-and-fpi-regulations-638341.html Sat, 13 Sep 2025 20:15:00 +0530 https://dailyworld.in/business/gold-and-silver-prices-hit-record-high-this-week-amid-global-uncertainty-638352.html New Delhi Sep 13 Gold and silver prices continued their upward march this week scaling fresh alltime high as concerns over US tariffs and heightened geopolitical tensions kept safehaven demand strong According to data from the Indian Bullion and Jewellers Association IBJA 24carat gold closed at Rs 109707 per 10 grams on Friday registering a sharp gain of Rs 1670 from Mondays level of Rs 108037 The rally pushed gold prices firmly above the Rs 1 lakh mark throughout September with rates standing at Rs 104075 on September 1Similarly 22carat gold prices also surged ending the week at Rs 100492 per 10 grams compared to Rs 98962 at the beginning of the weekSilver mirrored golds bullish momentum The metal ended the week at Rs 128008 per kilogram higher by Rs 3595 from Mondays Rs 124413 Silver has also maintained its stronghold above the Rs 120 lakh level so far this month underscoring robust investor appetiteOn the futures front gold contracts with October 3 expiry settled at Rs 109356 per 10 grams on Friday up 034 per cent reflecting sustained optimism in the bullion marketGlobal cues further strengthened the trend On the international stage Comex gold traded at 36807 per ounce extending gains as traders sought refuge in the precious metal amid ongoing economic and political uncertaintiesAnalysts suggest the rally could continue in the near term supported by persistent geopolitical risks a weak global economic outlook and lingering tariff concerns For Indian investors the sharp rise in gold and silver prices reinforces the role of bullion as a safehaven asset during times of volatilityGold stayed positive with gains of 035 per cent at Rs 109350 as Comex traded firm at 3647 factoring in expectations of a Fed rate cut next week to support the US economy said Jateen Trivedi of LKP SecuritiesDespite being in overbought territory gold continues to enjoy a premium driven by tariff uncertainty and the dedollarisation theme With US CPI and jobless claims in focus this week markets are leaning towards a 050 per cent cut along with a dovish stance Gold trend remains positive within a range of Rs 107000Rs 112000 he added IANS https://dailyworld.in/business/gold-and-silver-prices-hit-record-high-this-week-amid-global-uncertainty-638352.html Sat, 13 Sep 2025 21:04:00 +0530 https://dailyworld.in/business/big-ticket-investors-line-up-for-pm-mitra-textile-park-in-mp-pm-modi-to-inaugurate-on-his-bday-638368.html Bhopal Sep 13 Investor confidence in the PM MITRA Textile Park in Dhar Madhya Pradesh has surged ahead of its grand inauguration with proposals worth Rs 27109 crore already received Major textile organisations and industry groups have expressed strong interest in setting up operations at the park signaling a wave of industrial expansion and employment generation in Madhya Pradesh The project is expected to create nearly 3 lakh jobs 1 lakh direct and 2 lakh indirect while doubling the value of cotton for farmers and energising rural economies This influx of investment is being seen as a vote of trust in the parks infrastructure and strategic location Investment proposals worth Rs 27109 crore already received state government officials claimed Major textile organisations and industry groups have expressed strong interest in setting up operations at the park they said Spread across 2158 acres in Bhainsola village the PM MITRA Park is equipped with worldclass facilities including a 20 MLD common effluent treatment plant a 10 MVA solar power unit reliable water and electricity supply modern road connectivity and 81 plugandplay industrial units Worker housing and social amenities further elevate it into a model industrial township Prime Minister Narendra Modi will inaugurate the park on September 17 coinciding with his 75th birthday The event marks a historic milestone not only for Madhya Pradesh but for Indias textile sector at large Chief Minister Mohan Yadav described the inauguration as a moment of global recognition for the hard work of farmers calling the park the foundation stone of Madhya Pradeshs industrial future The PM MITRA initiative is rooted in the Prime Ministers vision of Farm to Fiber Factory to Fashion and Fashion to Foreign The Dhar park will consolidate the entire textile value chain at one locationtransforming raw cotton into yarn textiles garments and finally exports This integrated model is expected to revolutionize cottonbased industries and position Madhya Pradesh as a global textile hub Already a leader in cotton production Madhya Pradesh contributes nearly 24 lakh tonnes annually across 6 lakh hectares with 40 per cent of Indias organic cotton originating from the state With the PM MITRA Park Dhar is poised to become the central hub for Indias textile activities IANS https://dailyworld.in/business/big-ticket-investors-line-up-for-pm-mitra-textile-park-in-mp-pm-modi-to-inaugurate-on-his-bday-638368.html Sat, 13 Sep 2025 23:08:00 +0530 https://dailyworld.in/business/indian-stock-market-opens-with-mild-gains-amid-strong-global-cues-637981.html Mumbai Sep 12 The Indian benchmark indices opened with mild gains on Friday on the back of strong global cues driven by growing expectations of a US Federal Reserve rate cut next week As of 925 am Sensex was up 114 points or 014 per cent at 81663 and Nifty was up 39 points or 016 per cent at 25045The broadcap indices outperformed benchmark indices as Nifty Midcap 100 inched up by 043 per cent and the Nifty Small cap 100 moved up 036 per centAdani Enterprises Infosys TCS NTPC and Axis Bank were among major gainers on Nifty while losers were Bajaj Finserv Titan Company and Tata Consumer ProductsAmong sectoral indices Nifty Auto the top gainer jumped 101 per cent Nifty IT up 074 per cent and Nifty Metal up 059 per cent were the other major gainers Nifty FMCG was the top loser down 062 per centAdding to the investor optimism US President Donald Trump has reportedly invited Union Commerce Minister Piyush Goyal for a meeting with the US Trade Representative to discuss a potential trade deal a development that could ease tensions between the two countriesNifty on Thursday managed to surpass the 25000 hurdle and continued its upward journey for the seventh day in a row to close at its highest levels since 21 August Nifty finally managed to close above the downward sloping trend line resistance on the daily chartAnalysts said that the shortterm trend of the Nifty remains bullish as it has been holding above 5 20 and 50 DMAs Immediate resistance for Nifty is seen at 25153 derived from the previous swing highUS markets surged to fresh records overnight as jobless claims spiked to a fouryear high of 263000 cementing expectations for Federal Reserve rate cuts despite August inflation accelerating to 29 per centThe Dow Jones Industrial Average jumped 136 per cent while the Nasdaq advanced by 072 per cent and the SampP 500 gained 085 per centMarkets now price in a 948 per cent probability of a quarterpoint Fed cut next week with only 52 per cent odds of a halfpoint reductionMost of the Asian markets made strong gains during the morning session While Chinas Shanghai index advanced 024 per cent and Shenzhen added 015 per cent Japans Nikkei rose 091 per cent while Hong Kongs Hang Seng Index jumped 142 per cent South Koreas Kospi inched up 115 per centOn Thursday foreign institutional investors FIIs net sold equities worth Rs 3472 crore while domestic institutional investors DIIs net bought shares worth Rs 4046 crore IANS https://dailyworld.in/business/indian-stock-market-opens-with-mild-gains-amid-strong-global-cues-637981.html Fri, 12 Sep 2025 09:59:00 +0530 https://dailyworld.in/business/gujarat-fate-of-24-candidates-to-be-decided-in-amul-dairy-board-polls-637989.html Anand Sep 12 The highstakes Amul Dairy elections in Anand enter their final stage on Friday with the counting of votes that began at 9 am The process spread across eight rounds at four counting centres will decide the fate of 24 candidates contesting for nine seats on the Board of Directors Results are expected to be announced by 3 pmVoting for the elections was held on September 10 recording an impressive 9748 per cent turnout Later ballot boxes were transported from the District Treasurys strongroom to Amul Dairys counting centre under tight security Counting will take place simultaneously at four centres with four tables assigned to handle the ballotsOfficials will open the boxes extract the ballot papers and tally votes candidatewise Cancelled ballots will be displayed before candidates and agents before being set aside for final verification The process will begin with counting for the Anand Borsad Petlad and Khambhat seats followed by Nadiad Matar Kathlal and Kapadvanj Finally votes of individual members will be talliedThe elections have generated excitement among cattle farmers of Anand and Kheda districts with large gatherings of supporters and candidate families expected at the dairy premises to witness the results Amul Dairy headquartered in Anand Gujarat is the flagship cooperative under the Gujarat Cooperative Milk Marketing Federation GCMMF and a central pillar of Indias dairy sector With an annual group turnover crossing Rs 55000 crore over USD 65 billion it is not just Indias largest dairy brand but also among the worlds biggest milk cooperativesFounded in 1946 and often credited with ushering in Indias White Revolution under the leadership of Dr Verghese Kurien Amul transformed India from a milkdeficient country into the worlds largest milk producer Its cooperative model which links over 36 lakh milk producers across 18000 villages in Gujarat has become a global case study in farmer empowerment and rural development Beyond being a household brand with products ranging from milk and butter to ice cream and cheese Amuls relevance lies in its role as a socioeconomic backbone ensuring stable incomes for farmers driving rural employment and positioning India as a dairy powerhouse in global markets IANS https://dailyworld.in/business/gujarat-fate-of-24-candidates-to-be-decided-in-amul-dairy-board-polls-637989.html Fri, 12 Sep 2025 10:30:00 +0530 https://dailyworld.in/business/over-9-in-10-ceos-say-govt-effective-in-enabling-indias-global-rise-637995.html New Delhi Sep 12 More than nine in 10 93 per cent CEOs feel that government has been effective in enabling Indias global rise while 92 per cent believe Indias global positioning is strong according to a new survey While 89 per cent CEOs are confident in Indias growth story 54 per cent believe India is using strategic communications to shape its global image very effectively according to the survey by the Public Relations Consultants Association of India PRCAI in collaboration with Astrum AdvisoryThe study which captured the views of 123 CEOs across six cities found that 84 per cent of CEOs believe Indias best days lie aheadThe report highlights reputation as the most valuable currency for Indias economic progress and global leadershipThe findings showed that CEOs see climate readiness geopolitical positioning digital innovation and human capital as Indias biggest levers for global leadership while also recognising communication and reputation management as essential tools in translating progress into global influenceThe findings underscored that India under the Prime Ministers leadership is advancing strategically At the same time CEOs cautioned that policy unpredictability AIrelated risks and perception gaps around civic and environmental issues could undermine global confidence if not addressedReputation in public life is tested not by speeches or photo opportunities but by delivery It is when a child reaches school wellnourished when a woman finds safety and economic independence when a family sees fairness in governance These are the moments that earn trust and it is this trust that ultimately defines Indias credibility to the world said former Cabinet Minister Smriti IraniShe positioned women as central to Indias reputationbuilding highlighting how their leadership across politics business and culture reinforces values of resilience ambition and inclusivityShe also reflected on Indias evolving identity by noting that Brand India is in a moment of evolution Brands dont die because they dont succeed they die because they dont evolveKunal Kishore President PRCAI said Reputation today is not just communication it is strategy it determines trust in boardrooms credibility in markets and influence on the world stage IANS https://dailyworld.in/business/over-9-in-10-ceos-say-govt-effective-in-enabling-indias-global-rise-637995.html Fri, 12 Sep 2025 11:27:00 +0530 https://dailyworld.in/business/sebi-board-meeting-to-consider-relaxed-ipo-norms-new-anchor-allocation-rules-637997.html New Delhi Sep 12 Capital markets regulator Securities and Exchange Board of India SEBI is set to review key regulatory changes at its board meeting on Friday including relaxed stake dilution norms for large companies and amended allocation norms for anchor investors in IPOs The regulator is considering stake dilution norms to permit large firms to launch smaller initial public offerings SEBI also considers extending deadlines to comply with minimum public shareholding requirementsCompanies with postissue market capitalisations exceeding Rs 5 lakh crore may need to maintain a minimum float of Rs 15000 crore plus 1 per cent subject to a minimum of 25 per cent public floatFirms valued between Rs 1 lakh crore and Rs 5 lakh crore could be required to issue at least Rs 6250 crore plus 275 per cent Depending on their shareholding levels they could get up to 10 years to meet the minimum public shareholding mandate according to reportsThe board plans to expand the anchor investor pool for IPOs increasing reserved allocations from 33 per cent to 40 per cent by adding insurance and pension funds to mutual funds For IPOs with an issue size of Rs 250Rs 500 crore the number of permitted anchor allottees is proposed to increase from 25 to 30The meeting is also likely to take up steps to simplify compliance for foreign portfolio investors FPIs ease rules for accredited investors in certain alternative investment funds AIFs widen the scope of activities for rating agencies and give equity status to Real Estate Investment Trusts REITs and Infrastructure Investment Trusts InvITsFurther multiple reports said the SEBI board is likely to discuss and approve a new thresholdbased system for determining the materiality of related party transactions RPTs The move aims to align compliance requirements with the turnover of listed entitiesSEBI may release a consultation paper within a month on phasing out weekly futures and options FampO contractsThe regulator is planning a shift to monthly expiries with a defined transition plan and may also look at introducing sameday expiry across stock exchangesMeanwhile earlier this week SEBI announced that it has amended its rules to allow promoters to retain employee stock options ESOPs granted at least one year before filing IPO papers IANS https://dailyworld.in/business/sebi-board-meeting-to-consider-relaxed-ipo-norms-new-anchor-allocation-rules-637997.html Fri, 12 Sep 2025 11:45:00 +0530 https://dailyworld.in/business/indias-gdp-growth-to-remain-steady-at-65-pc-another-rbi-rate-cut-likely-this-fiscal-638038.html New Delhi Sep 12 A new Crisil report has projected Indias gross domestic product GDP growth to remain steady at 65 per cent in FY26 with some downside risks owing to external factors Export growth is expected to be a drag on GDP growth given the imposition of 50 per cent tariffs on India by the US at present However consumption will get a boost from rate cuts healthy rains soft inflation and tax relief the report mentionedThe repo rate cuts and 100bps cut in the cash reserve ratio to be implemented between September and December could provide some cushion to financial conditions this fiscalThat said there may be volatility in capital flows given the global turmoil which may keep the rupee under pressure in the short term the report addedCrisil expects the RBI Monetary Policy Committee MPC to cut policy rates one more time this fiscal given expectations of soft inflation and downside risks to growthInflation has remained below the RBIs target of 4 per cent for the past six months FebruaryJuly Healthy agricultural production is expected to keep food inflation subdued As on August 29 kharif sowing was up a healthy 29 per cent onyear the report notedHowever some crop yields may come under pressure due to excess rain Soft commodity prices will mean softer nonfood inflation Lower GST rates are also likely to add a downside to inflation this fiscal it mentionedBank credit growth rose to 10 per cent onyear in August from 98 per cent in July and 96 per cent average in the quarter ended JuneSectoral data until July indicates improved credit in services 106 per cent in July vs 9 per cent in June agriculture 73 per cent vs 68 per cent and industry 6 per cent vs 55 per centThat said growth in personal loans was broadly stable 119 per cent vs 121 per centThe oneyear marginal cost of fundsbased lending rate MCLR a benchmark for several bank lending rates eased 15 bps to 86 per cent The reduction reflected the lagged response to the 100bps rate cut by the RBIs Monetary Policy Committee MPC between February and June 2025 IANS https://dailyworld.in/business/indias-gdp-growth-to-remain-steady-at-65-pc-another-rbi-rate-cut-likely-this-fiscal-638038.html Fri, 12 Sep 2025 13:54:00 +0530 https://dailyworld.in/business/indias-reit-market-cap-to-reach-25-billion-in-next-4-years-with-38-pc-surge-report-638043.html New Delhi Sep 12 The Indian real estate investment trust REIT industry with a market capitalisation of about 18 billion in August 2025 is projected to reach 25 billion in the next four years around 38 per cent surge a report said on Friday The Indian real estate investment trust REIT market has grown steadily since its initial listing in 2019Attractive yields of 67 per cent coupled with rental escalations and capital appreciation opportunities make Indian REITs highly competitive compared to global peers Anarock Capital and Real Estate Developers Associations of India CREDAI said in a joint reportThe combination of regulatory confidence market depth and growth potential ensures that the countrys REITs will play a defining role in shaping the future of Indian real estateIndian REITs are late to the party but now lead the dance Despite its late entry compared to global peers India has strong fundamentals The distribution yields currently averaging at 67 per cent are well above many mature markets such as the US and Singapore among others said Shobhit Agarwal CEO Anarock CapitalAverage distribution yields of Indian REITs are competitive with fixedincome instruments but have the added potential for capital appreciation We take a deep dive into this phenomenon in the report Agarwal addedDespite REIT guidelines being introduced in 2014 and the first listing only in 2019 the Indian REIT market accounts for just 20 per cent of institutional real estate far below the US 96 per cent or even Asian peers like Singapore 55 per cent and Japan 51 per centThis limited penetration is largely because Indian REITs are so far concentrated in Grade A commercial office assets which offer scale transparency and stable cash flowsAs the market matures diversification is expected through data centres and logistics REITs supported by rising digital demand and ecommerce growth while retail mall REITs may follow with ongoing consolidation the report statedWith more asset classes becoming REITable Indias penetration could potentially rise to 2530 per cent of institutional real estate by 2030 positioning it as one of the fastestgrowing REIT markets globallyOver 60 per cent of Indias REIT market value today rests with a very small set of players with a strong base in Grade A offices linked to IT and BFSI said Shekhar Patel President CREDAIThe future however holds far wider promise As Indias cities grow infrastructure strengthens and the economy diversifies REITs will expand into retail logistics housing and newage assets Patel addedThe report highlighted that globally industrial REITs are gaining significant momentum on the back of sustained ecommerce penetration supply chain reoptimisation and lastmile logistics demand ensuring longterm rental growth and capital appreciationData centre REITs valued at 250 billion by 2024 and projected to double within seven years are expanding rapidly due to surging cloud adoption AIdriven workloads and hyperscale infrastructure needsIndia is also wellpositioned to mirror this trend as reflected in a 60 per cent onyear surge in industrial and logistics leasing in H1 2025 a 30 per cent YoY rise in warehousing absorption and a threefold increase in institutional investment to 25 billion in 2024 the report stated IANS https://dailyworld.in/business/indias-reit-market-cap-to-reach-25-billion-in-next-4-years-with-38-pc-surge-report-638043.html Fri, 12 Sep 2025 14:10:00 +0530 https://dailyworld.in/business/us-inflation-weak-labour-market-data-make-fed-rate-cut-certain-report-638057.html New Delhi Sep 12 IANS United States CPI inflation in August along with a sharp downturn in labour market dynamics rendered a 25 basis point Fed rate cut next week certain said a report on FridaynbspTraders anticipate a 25basispoint cut at next weeks FOMC meeting and expect approximately three cuts in total for 2025 a report from Emkay Global Financial Services saidnbspHeadline CPI rose 04 per cent monthovermonth exceeding estimates of 03 per cent and increased 29 per cent yearoveryear Core CPI increased by 03 per cent from July and 31 per cent yearoveryear aligning with expectationsAugusts CPI data confirms that while inflation may not be getting worse it is not getting a lot better either said Madhavi Arora Chief Economist Emkay Global Financial ServicesnbspHowever she added that weakening job figures will compel the Fed to turn towards the employment side of its dual mandate and restart its easing cycle next weeknbspCore goods inflation rose to 03 per cent MoM driven by a 1 per cent rise in used car prices along with higher costs for apparel and recreational items indicating potential tariff passthrough the report saidServices inflation decreased to 03 per cent for the month while shelter costs rose by 04 per cent and lodging increased by 23 per cent Airfares increased by 6 per cent it addednbspMarkets showed positive movement with Treasury yields declining and the dollar decreasing slightly Overnight the Dow Jones Industrial Average jumped 136 per cent while the Nasdaq advanced by 072 per cent and the SampampP 500 gained 085 per centChief economist of credit rating agency Moodys Mark Zandi who was one of the first economists to foresee the 2008 financial crisis had earlier said that statelevel data indicate that the US is on the verge of a recessionnbspBased on data on spending jobs and manufacturing he believes the economy is on the verge of a recession and shared his concerns about US tariffs harming American companies profits as well as persistent problems in the US housing market https://dailyworld.in/business/us-inflation-weak-labour-market-data-make-fed-rate-cut-certain-report-638057.html Fri, 12 Sep 2025 15:43:00 +0530 https://dailyworld.in/business/fmcg-it-automobile-among-consistent-high-return-equity-sectors-in-india-since-global-financial-crisis-638066.html New Delhi Sep 12 FMCG IT auto oil and gas and consumer durables are among Indias most consistent sectors in providing highreturn on equity ROE since 2009 a report said on Friday A core highROE cohort of FMCG IT oil and gas and consumer durables makes up over one third of market cap and earns ROEs about 50 per cent above the restFMCG stocks under Nifty 50 recorded an average ROE of 355 per cent and since the global financial crisis GFC around 20082009 the ROE for the sector stood at 454 per cent DSP Mutual Fund said in a reportIT 286 per cent automobile and auto component 228 per cent oil and gas 223 per cent and financial services 159 per cent were the other top sectors in terms of ROE since the GFCThis stands as the source of Indias premium valuation over the long term But since the pandemic Covid19 cyclicals such as metals mining and construction materials have rerated sharply despite weaker longterm ROEs the report notedMeanwhile earnings momentum in the highROE cohort has cooled as revenue growth is slowing and margins look latecycleYet the market still trades at an overall premium buoyed by cyclicals and lowerquality namesIn such a scenario bargains will be available sooner or later in the highquality high ROE cohort when valuations cool the report highlightedAccording to the report the key factors influencing gold returns are the US dollar SampP 500 Federal Reserve policy rates and consumer price inflation In the 2000s as well the Gold rally was largely attributed to a weakening dollarOver the decades these drivers have shifted in importance with traditional financial variables such as the dollar equities and Fed rates often acting as headwinds to golds performance in recent yearsDespite these pressures gold has remained resilient supported by a structural surge in central bank demand since 2022 especially after the RussiaUkraine war where the US used its currency as an instrument to impose sanctions on other countriesThis led to the emergence of the Gold Put Gold Put is the consistent less pricesensitive Gold hoarding by central banks of various countries as an alternative to US Treasuries the report highlighted IANS https://dailyworld.in/business/fmcg-it-automobile-among-consistent-high-return-equity-sectors-in-india-since-global-financial-crisis-638066.html Fri, 12 Sep 2025 16:14:00 +0530 https://dailyworld.in/business/stock-market-ends-week-on-positive-note-clock-8-consecutive-session-gains-despite-uncertainties-638069.html Mumbai Sep 12 The Indian equity indices ended the week on a positive note on Friday maintaining the winning streak for the eight consecutive trading sessions despite geopolitical uncertainties Optimism over a potential rate cut by the US Fed positive developments in IndiaUS trade talks and buying in defence stocks fueled the market sentimentSensex settled the session at 8190470 up 35597 points or 044 per cent The 30share index started trading with a decent gapup at 8175895 against last days closing of 8154873 The index extended the momentum further amid positive global cues to hit an intraday high at 8199285Nifty closed at 251140 up 10850 points or 043 per centThe national market closed at a threeweek high supported by renewed global optimism over a potential Fed rate cut Sentiments improved further on reports that the EU may reject US tariff proposals on India for buying Russian oil analysts saidProgress in the USIndia trade talks is also expected to keep the positive momentum intact in the near term The defence sector outperformed aided by the Indian procurement authorities beginning negotiations for six nextgeneration conventional submarines analysts addedBEL Bajaj Finance Bajaj FinServ Axis Bank Maruti Tata Motors ICICI Bank LampT Infosys and PowerGrid were the top gainers from the Sensex basket Eternal Hindustan Unilever Trent Asian Paint Bharati Airtel and ITC settled lowerThe majority of sectoral indices settled higher Nifty Fin Services jumped 184 points or 070 per cent Nifty Bank escalated 139 points or 026 per cent Nifty Auto increased 122 points or 046 per cent and Nifty IT settled the session 107 points or 03 per cent Nifty FMCG fellBroader indices followed suit as well Nifty Smallcap 100 moved 114 points or 064 per cent Nifty Midcap 100 jumped 183 points or 032 per cent and Nifty 100 closed 106 points or 041 per centRupee traded positively with gains of 018 per cent at 8827 as mixed FII inflows supported sentimentThe dollar index remained weak below 98 providing additional strength to the rupee while ongoing trade deal talks with the US also added optimism Weakness in crude prices offered further minor support said Jateen Trivedi f LKP SecuritiesOverall the rupee looks set to gain some lost ground with scope to test 8775 in the coming days while 8850 is seen as a reversal resistance zone he added IANS https://dailyworld.in/business/stock-market-ends-week-on-positive-note-clock-8-consecutive-session-gains-despite-uncertainties-638069.html Fri, 12 Sep 2025 16:48:00 +0530 https://dailyworld.in/business/indias-cpi-inflation-edges-up-to-207-pc-in-aug-food-inflation-stays-in-negative-zone-638082.html New Delhi Sep 12 Indias inflation rate based on the Consumer Price Index CPI edged up to 207 per cent in August although prices food continued to decline during the month easing the burden on the common man according to figures released by the Ministry of Statistics on Friday The headline inflation in August was marginally higher than the 161 per cent in July this year which was the lowest level of yearonyear retail inflation since June 2017However the inflation rate is well within the RBIs target rate of 4 per cent which allows the central bank to continue with the soft money policy to spur growthFood inflation was estimated at 069 per cent in August remaining in the negative zone for the third consecutive month as the prices of vegetables declined by 1592 per cent and pulses turned cheaper by as much as 1453 per cent The prices of spices also fell by 324 per cent during the monthAn increase in headline inflation and food inflation during August compared to July is mainly attributed to increase in inflation of meat and fish edible oil and fats eggs and personal care and affectsHowever the fuel inflation rate in August was at 243 per cent compared to 267 per cent in July while the housing inflation rate for the month was 309 per cent compared to the corresponding figure of 317 per cent in JulySimilarly the health inflation rate was also lower at 440 per cent in August compared to 457 per cent in JulyMeanwhile the Reserve Bank of India RBI has pegged Indias CPI inflation at 31 per cent for 202526 as the steady progress of the monsoon and robust kharif sowing are expected to keep food prices in checkRBI Governor Sanjay Malhotra recently said The inflation outlook for 202526 has become more benign than expected in June Large favourable base effects combined with steady progress of the southwest monsoon healthy kharif sowing adequate reservoir levels and comfortable buffer stocks of foodgrains have contributed to this moderationCPI inflation however is likely to edge up above 4 per cent by Q4202526 and beyond as unfavourable base effects and demand side factors from policy actions come into play Barring any major negative shock to input prices core inflation is likely to remain moderately above 4 per cent during the year he explained IANS https://dailyworld.in/business/indias-cpi-inflation-edges-up-to-207-pc-in-aug-food-inflation-stays-in-negative-zone-638082.html Fri, 12 Sep 2025 17:59:00 +0530 https://dailyworld.in/business/indias-forex-rises-by-403-billion-to-69826-billion-gold-reserves-jump-638096.html New Delhi Sep 12 Indias foreign exchange reserves increased by 403 billion to touch 69826 billion for the week ending September 5 according to data released by the Reserve Bank of India RBI on Friday This comes after reserves had already risen by 351 billion in the previous week taking the total to 6942 billion as of August 29The RBI data showed that foreign currency assets FCAs the largest part of the reserves went up by 540 million to 58447 billionThese assets include currencies such as the euro pound and yen and their value in dollar terms also reflects changes in exchange ratesA big boost came from gold reserves which jumped by 353 billion to reach 9029 billion during the weekOn the other hand special drawing rights SDRs stood at 1874 billion as per the central banks dataIndias reserve position with the International Monetary Fund IMF also inched up by 2 million to 475 billionThe RBI frequently steps into the forex market to control sudden fluctuations in the rupeeSuch interventions officials say are not meant to fix the currency at a particular level but to ensure stability and prevent sharp volatilityWith reserves inching closer to the 700 billion mark analysts believe the strong buffer will help India manage external shocks and provide confidence to global investors in uncertain timesMeanwhile foreign currency assets a major component of the reserves for the week ended August 29 was increased by 169 billion to 58394 billionExpressed in dollar terms the foreign currency assets include the effect of appreciation or depreciation of nonUS units like the euro pound and yen held in the foreign exchange reservesFor the week ended August 29 the gold component of the forex reserves was also increased by 177 billion to 8677 billion IANS https://dailyworld.in/business/indias-forex-rises-by-403-billion-to-69826-billion-gold-reserves-jump-638096.html Fri, 12 Sep 2025 18:39:00 +0530 https://dailyworld.in/business/spicejet-flight-loses-outer-wheel-during-take-off-lands-safely-in-mumbai-638098.html New Delhi Sep 12 A SpiceJet flight operating from Kandla Gujarat to Mumbai lost an outer wheel during takeoff but landed safely in the financial capital the airline said on Friday The Q400 aircraft lost the outer wheel after takeoff from KandlaOn September 12 an outer wheel of a SpiceJet Q400 aircraft operating from Kandla to Mumbai was found at the runway after takeoff The aircraft continued its journey to Mumbai and landed safely an SpiceJet spokesperson saidFollowing a smooth landing the aircraft taxied to the terminal under its own power and all passengers disembarked normally the airline addedOn Thursday a Kathmandubound SpiceJet flight faced a suspected tailpipe fire at Delhi airport but safely returned to the bay The incident involved flight SG041 which was being operated with a Boeing 7378 aircraftThe flight was scheduled to leave in the morning but was delayed for more than four hours According to the airline another aircraft on the ground reported a suspected tailpipe fire prompting the pilots to return as a precautionary measureNo warnings or indications were observed in the cockpit but the pilots decided to return as a precautionary safety measure according to the airlineA tailpipe is the exhaust pipe of a jet engine and a tailpipe fire also called an internal fire can occur within the normal gas flow of the engineDespite the scare officials confirmed that the aircraft was safe and ready to resume operations after checksThe budget airline slipped into the red in the AprilJune quarter Q1 of FY26 reporting a consolidated net loss of Rs 234 crore compared to a net profit of Rs 158 crore in the same period previous financial year Q1 FY25 The sharp decline came as revenues from operations dropped 344 per cent yearonyear YoY to Rs 1120 crore from Rs 1708 crore according to its stock exchange filingThe airline said the losses were mainly due to costs linked to grounded aircraft and expenses for bringing them back into service It also pointed to geopolitical tensions with a neighbouring country and airspace restrictions in key markets which hit leisure travel demand IANS https://dailyworld.in/business/spicejet-flight-loses-outer-wheel-during-take-off-lands-safely-in-mumbai-638098.html Fri, 12 Sep 2025 18:40:00 +0530 https://dailyworld.in/business/vms-tmts-revenue-falls-nearly-12-pc-ahead-of-ipo-shows-drhp-638099.html Mumbai Sep 12 Gujaratbased steel bars manufacturer VMS TMT has reported a 118 per cent dip in its revenue ahead of its initial public offering IPO According to its red herring prospectus RHP the companys revenue declined to Rs 7702 crore in the financial year 202425 FY25 compared to the previous fiscal FY24However despite the fall in sales its net profit rose 145 per cent to Rs 154 crore during the same periodVMS TMT which makes thermo mechanically treated TMT steel bars under the Kamdhenu brand has filed its RHP with the Registrar of Companies and is set to launch its IPO on September 17The offering will consist entirely of a fresh issue of 15 crore equity shares with all proceeds going directly to the companyThe IPO anchor book for institutional investors will open on September 16 and the issue will close for subscription on September 19The company plans to use Rs 115 crore from the IPO proceeds to repay borrowings while the rest will be set aside for general corporate purposesAs of June its total borrowings stood at Rs 2617 crore The issue structure reserves 50 per cent of shares for retail investors 30 per cent for qualified institutional buyers and the remaining 20 per cent for noninstitutional investorsVMS TMT operates primarily in Gujarat manufacturing TMT bars from scrap and billets at its Bhayla Village plant in Ahmedabad which has an installed capacity of two lakh metric tonnes per yearThe companys IPO allotment will be finalised by September 22 with a planned listing on the stock exchanges on September 24The company had earlier filed draft IPO papers with SEBI on March 27 which were cleared on July 21 Arihant Capital Markets is acting as the sole bookrunning lead manager for the issue IANS https://dailyworld.in/business/vms-tmts-revenue-falls-nearly-12-pc-ahead-of-ipo-shows-drhp-638099.html Fri, 12 Sep 2025 18:41:00 +0530 https://dailyworld.in/business/sebi-eases-ipo-shareholding-rules-brings-relief-for-large-companies-638103.html New Delhi Sep 12 IANS The Securities and Exchange Board of India SEBI on Friday announced a series of regulatory changes after its board meeting including a major relaxation in minimum public shareholding MPS norms for large companies planning initial public offerings IPOsnbspAccording to SEBIs release companies with a market capitalisation of Rs 50000 crore to Rs 1 lakh crore will now get more time to meet the public shareholding requirementsnbspThey will be required to achieve 15 per cent MPS within five years of listing and 25 per cent within 10 yearsAt present companies are required to meet the 25 per cent threshold within three yearsnbspThis move is expected to make fundraising easier and reduce pressure on companies to immediately dilute large stakes which often affects share pricesnbspExperts said the step will also reduce the need for companies to seek casebycase exemptions from SEBInbspIn another decision SEBI allowed real estate investment trusts REITs and Infrastructure Investment Trusts InVITs to be classified as equity instrumentsThis change will make it easier for mutual funds to invest in them and is expected to increase retail investor participation in these asset classesnbspSEBI also amended governance norms for stock exchanges and depositories aiming to improve transparency and oversight in market institutionsnbspAdditionally the regulator has relaxed eligibility criteria for investment advisors and research analystsnbspFrom now on a graduate in any discipline will be eligible to apply though clearing the NISM certification remains mandatorySEBI has also simplified requirements around credit reports net worth and assetliability statementsnbspTo improve access for overseas investors SEBI launched a new website called India Market Access for foreign portfolio investors FPIsnbspThe portal will provide comprehensive regulatory and procedural details for those looking to invest in Indian markets https://dailyworld.in/business/sebi-eases-ipo-shareholding-rules-brings-relief-for-large-companies-638103.html Fri, 12 Sep 2025 19:04:00 +0530 https://dailyworld.in/business/vms-tmts-net-profit-falls-17-pc-in-fy24-revenue-slips-shows-drhp-638111.html Mumbai Sep 12 Gujaratbased Steel bars manufacturer VMS TMT Limited has reported a sharp fall in its net profit for the financial year ended March 31 2024 as the companys profit dropped 175 per cent to Rs 1111 crore compared to Rs 1346 crore in the previous year as per its latest financial disclosures According to its red herring prospectus RHP the company posted Rs 87295 crore in revenue down 1 per cent from Rs 88201 crore a year earlier Total income too fell by 1 per cent to Rs 87316 crore against Rs 88205 crore in the previous financial yearVMS TMT which makes thermo mechanically treated TMT steel bars under the Kamdhenu brand has filed its RHP with the Registrar of Companies and is set to launch its IPO on September 17The offering will consist entirely of a fresh issue of 15 crore equity shares with all proceeds going directly to the companyThe IPO anchor book for institutional investors will open on September 16 and the issue will close for subscription on September 19The company plans to use Rs 115 crore from the IPO proceeds to repay borrowings while the rest will be set aside for general corporate purposesAs of June its total borrowings stood at Rs 2617 crore The issue structure reserves 50 per cent of shares for retail investors 30 per cent for qualified institutional buyers and the remaining 20 per cent for noninstitutional investorsVMS TMT operates primarily in Gujarat manufacturing TMT bars from scrap and billets at its Bhayla Village plant in Ahmedabad which has an installed capacity of two lakh metric tonnes per yearThe companys IPO allotment will be finalised by September 22 with a planned listing on the stock exchanges on September 24The company had earlier filed draft IPO papers with SEBI on March 27 which were cleared on July 21 Arihant Capital Markets is acting as the sole bookrunning lead manager for the issue IANS https://dailyworld.in/business/vms-tmts-net-profit-falls-17-pc-in-fy24-revenue-slips-shows-drhp-638111.html Fri, 12 Sep 2025 19:25:00 +0530 https://dailyworld.in/business/response-to-eu-india-blue-economy-conclave-encouraging-21-countries-confirm-participation-kerala-minister-638129.html Thiruvananthapuram Sep 12 Kerala Fisheries Minister Saji Cherian on Friday said that the response to the upcoming EUIndia Blue Economy Conclave has been very encouraging with 21 countries confirming participation so far The conclave will be held in Kovalam on September 1819 Cherian told IANS that they had extended invites to 29 EU countries and while 17 have confirmed four more are also likely to come on boardSo as things stand now 21 countries will be represented and we are trying to get others also We will be making a presentation to get these participating EU countries to see how best they can invest here said CherianThe event themed Blue Tides Two Shores One Vision will bring together policymakers investors academics and innovators from across Europe and IndiaThe conclave will also be attended by the EU Ambassador to India and Bhutan Herve Delphin underscoring Europes growing engagement with Keralas maritime sectorThe meet jointly organised by the Department of Fisheries Government of Kerala the Union Government and the European Union will be held at the famed beach tourist destination KovalamThe whole idea is to chart a roadmap for positioning Kerala as a model blue economy hub tapping into EU expertise in marine innovation while leveraging the states long coastline and maritime heritage said CherianCherian was recently in France to seek support for this highprofile eventCountries confirming participation so far include Finland France Hungary Poland Slovakia Slovenia Sweden Denmark Bulgaria Austria Malta Spain Italy the Netherlands Belgium Romania and GermanyApart from showcasing a portfolio of projects to attract investment and partnerships the conclave will also explore joint research and development startup collaborations labour mobility and policy innovationSessions will feature policy leaders industry experts academics and investors discussing ways to modernise coastal infrastructure boost aquaculture exports nurture local innovation and unlock sustainable financingThe conclave comes at a time when Keralas seafood exports are witnessing a major boost following the EUs recent approval of 102 new fishery establishments strengthening the states positioning as Indias maritime gateway to Europe IANS https://dailyworld.in/business/response-to-eu-india-blue-economy-conclave-encouraging-21-countries-confirm-participation-kerala-minister-638129.html Fri, 12 Sep 2025 20:27:00 +0530 https://dailyworld.in/business/tier-2-cities-to-contribute-35-pc-of-indias-advanced-engineers-by-2028-report-638133.html New Delhi Sep 12 Tier2 and Tier3 cities in India are set to play a bigger role in shaping the countrys engineering workforce over the next few years a new report said on Thursday According to data compiled by NLB Services these cities could account for nearly 35 per cent of Indias advanced engineers by 2028 as fresh institutes technology parks and skilling hubs emerge outside traditional metrosCities such as Jaipur Vadodara Coimbatore Kochi Pune and Indore are fast becoming attractive destinations for enterprises seeking lowcost highimpact talentThe report highlights that India already produces around 15 million engineering graduates every year across disciplines like mechanical civil IT software and manufacturingHowever only 45 per cent of them currently meet industry standards despite 6072 per cent being considered broadly employableThe skills gap is proving to be a challenge in newage fields such as artificial intelligence data science electric vehicles EVs and semiconductorsFocused investments in reskilling incubation centres and industryacademia partnerships are expected to bridge this gap with Tier2 engineers projected to supply 1520 per cent of Indias advanced engineering workforce by 2027Indias technology sector valued at 250 billion and contributing 75 per cent to GDP is projected to touch 350 billion by FY25 the report saidThis growth is fueling demand for engineering talent across industries The expansion of Global Capability Centres GCCs has further accelerated the trend with Indian engineers not only powering domestic enterprises but also leading innovation at some of the worlds largest technology companiesThe report also underscores that the future of Indias economy will be driven by STEMled innovationWith 70 per cent of upcoming jobs expected to demand STEM skills expertise in areas like AI machine learning data engineering embedded systems and ethical AI governance will be crucialIndia is projected to require 1 million AItrained engineers by 2026 but current supply meets only 20 per cent of this demand the report addedSimilarly the EV industry which is expanding at a 3040 per cent annual growth rate is expected to need 1020 lakh engineers by 2030 across areas such as battery technology automotive electronics and sustainable designThe semiconductor industry too is opening up new opportunities especially after Indias first indigenous 32bit microprocessor VIKRAM3201 marked a step towards selfrelianceThe country is expected to need 2500030000 skilled engineers every year in chip design process engineering and testing IANS https://dailyworld.in/business/tier-2-cities-to-contribute-35-pc-of-indias-advanced-engineers-by-2028-report-638133.html Fri, 12 Sep 2025 21:20:00 +0530 https://dailyworld.in/business/india-central-asia-need-to-strengthen-trade-and-investment-ties-report-638144.html New Delhi Sep 12 Central Asias strategic location as a land bridge between Asia and Europe imbues it with undeniable geopolitical significance for India This partnership encompasses a broad spectrum of shared interests including security energy and other economic and commercial opportunities according to a new joint study released by the India Exim Bank and the Eurasian Development Bank EDB The report titled Exploring Trade and Investment Relations between India and Central Asia Unlocking Economic Benefits highlights an immense untapped potential in IndiaCentral Asia economic relations and provides actionable policy recommendations for deepening bilateral cooperationThe report states that the bilateral trade between India and Central Asia stood at 17 billion in 2023 with strong scope for expansion in pharmaceuticals machinery textiles petrochemicals agribusiness and ICTIndias trade relations with Central Asia underwent a significant shift in the past decade Uzbekistan emerged as the preeminent export destination capturing a substantial 453 per cent of Indias total exports to the region Kazakhstan while maintaining a robust presence accounted for 35 per cent of Indias exports in 2023 Tajikistan Kyrgyzstan and Turkmenistan followed with shares of 69 per cent 66 per cent and 61 per cent respectivelyThe import landscape presented a different picture Kazakhstan was Indias primary supplier from the region contributing over 645 per cent to the regions total imports in 2023 Turkmenistan commanded a decent 217 per cent share Uzbekistan contributed 106 per cent to Indias imports from the region while Tajikistan and Kyrgyzstan had more modest shares of 2 per cent and 12 per cent respectivelyIndia has invested about 15 billion in Central Asia 20102023 mainly in coal oil gas renewable energy and textiles Sectors like renewable energy healthcare food processing and logistics are emerging as priority areasThe policy recommendations in the report include collaboration on Digital Public Infrastructure DPI such as joint payment systems enhancing trade finance access for MSMEs improving transport connectivity via INSTC and promoting joint ventures and knowledge transferWith mineral resources increasing diversification of economies and a growing focus on regional cooperation these landlocked nations have the potential to be integrated as important players in the global economy The recent merchandise trade performance of these nations has been characterised by a rapid expansion of trade volumes exports heavily concentrated in a few primary commodities and trade partnerships limited to a few countries the report added IANS https://dailyworld.in/business/india-central-asia-need-to-strengthen-trade-and-investment-ties-report-638144.html Fri, 12 Sep 2025 22:19:00 +0530