DailyWorld News - The First International Newspaper From India https://dailyworld.in/ Sun, 21 Sep 2025 13:41:32 +0530 en 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/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 https://dailyworld.in/business/karnataka-govt-to-set-up-rs-2-345-crore-steel-plant-in-koppal-637954.html Bengaluru Sep 11 Karnataka Minister for Large and Medium Industries MB Patil said on Thursday that in a major boost for the state Rs 2345 crore steel plant will be set up in the Koppal district Minister Patil in the official statement said Sumitomo confirmed an investment of Rs 2345 crore in a steel manufacturing unit in Koppal through Mukand Sumi a joint venture with the Bajaj Group The unit will be operational by 2028 and will have an annual capacity of 350000 tonnes of iron and steelThe Minister also added that Sumitomo has also expressed interest in setting up a biomass unit in Karnataka in the near futureOn the third day of the visit the government delegation held talks with senior officials of Sumitomo Yaskawa and JFE Shoji companiesHe also said that he held talks with Japanese firm JFE Shoji on the possibilities of reviving the prestigious New Government Electrical Factory NGEF in Hubballi under state partnershipThe Minister leading a highlevel Karnataka delegation visiting Japan to attract investment put forward the revival proposal in a meeting with the companys top officialsJFE is at the forefront in the manufacture of power converters the Minister saidHe added that senior officials of the company have been invited to visit the Hubballi unit for preliminary discussions regarding the NGEF revivalThe company assured the state delegation that a separate Rs 400 crore project to manufacture motor cores used in batterypowered and electric vehicles BEVsEVs will be implemented soonYaskawa confirmed its investment to the state delegation for establishing a motion control and variable frequency drives unit in BengaluruThe Minister said this will strengthen Karnatakas position as a hub for advanced manufacturing technologyThe delegation included Selvakumar S Principal Secretary Department of Commerce and Industries and Gunjan Krishna Commissioner for Industrial Development and Director Department of Industries and Commerce and other senior officials IANS https://dailyworld.in/business/karnataka-govt-to-set-up-rs-2-345-crore-steel-plant-in-koppal-637954.html Thu, 11 Sep 2025 23:20:00 +0530 https://dailyworld.in/business/tn-transport-dept-seeks-bids-for-vehicle-tracking-device-installation-637761.html Chennai Sep 10 The Commissionerate of Transport and Road Safety has invited Expressions of Interest EOI from Vehicle Location Tracking Device VLTD manufacturers for the installation of devices in a wide range of commercial and passenger vehicles across Tamil Nadu The initiative issued on September 4 is aligned with the Automotive Industry Standard AIS140 which mandates realtime tracking and emergency response features to ensure passenger safety According to the notification interested manufacturers must submit applications by October 22 The bids will be opened on the same day at the Transport Commissionerate in Guindy The process will be governed by the Tamil Nadu Transparency in Tenders Act 1998 and the corresponding Tender Rules of 2000 Under the scheme VLTDs will be mandatory in buses school buses stage carriages All India Tourist Permit vehicles private service vehicles maxi cabs taxis and goods carriers including petroleum and water tankers Vehicles not covered under permit regulations will remain exempt though the Transport Department has reserved the right to expand coverage in the future The AIS140 devices are equipped with panic buttons to raise instant alerts in case of emergencies They will transmit live data to the States Command and Control Centre allowing authorities to monitor movement and ensure swift response during accidents or untoward incidentsOfficials said the move will also improve traffic management and bring greater accountability among transport operators To participate manufacturers must hold valid type approval and conformity of production certificates issued by agencies accredited with the Ministry of Road Transport and Highways MoRTH They are also required to establish retrofitment centres in all 38 districts and set up service and support centres in all 12 transport zonesAdditionally fitment centres must be operational across all 91 Regional Transport Office jurisdictions within 30 days of empanelment Each empanelled manufacturer must submit a performance guarantee of Rs 25 lakh along with a bank guarantee of Rs 5 lakh for every service centre A registration fee of Rs 25000 has been fixed for the first device model while subsequent models will attract a fee of Rs 10000 The initiative comes in the wake of the Union governments mandate on VLTDs introduced as a nationwide safety measure following the Nirbhaya incident The Tamil Nadu government has stressed that this is part of its broader effort to strengthen road safety through education enforcement engineering and emergency response IANS https://dailyworld.in/business/tn-transport-dept-seeks-bids-for-vehicle-tracking-device-installation-637761.html Thu, 11 Sep 2025 00:45:00 +0530 https://dailyworld.in/business/gadkari-lashes-out-at-paid-social-media-campaign-against-ethanol-blended-petrol-637768.html New Delhi Sep 11 IANS Union Minister for Road Transport and Highways Nitin Gadkari on Thursday hit back at what he called a paid politically motivated social media campaign against the governments ethanolblended petrol programme which actually succeeded in increasing the incomes of farmers and reduced pollution in the countrynbspnbspSpeaking at the annual convention of the Society of Indian Automobile Manufacturers SIAM here Gadkari said all tests had confirmed there were no issues with the rollout of 20 per cent ethanolblended E20 petrolThe minister said that production of ethanol from sugarcane maize and rice had led to an increase in the prices of these crops which in turn had resulted in higher incomes for farmersnbspHe pointed that in the case of maize alone farmers had earned Rs 45000 crore due to the higher demand and increase in price of the crop after it was allowed to be used as input for the production of ethanolnbspThe minister also highlighted that ethanolblending had led to a reduction in pollution and the issue had figured at the G20 conference as well which shows that the awareness of the success has been acknowledged worldwideGadkari further stated that the Supreme Court has also rejected petitions challenging the legality and safety of the E20 fuelnbspThe Supreme Court recently dismissed a public interest litigation PIL against E20 blending The petition had claimed that most vehicles on Indian roads were not compatible with E20 fuel raising risks of material degradation safety hazards mileage loss and denial of insurance claimsnbspRejecting the plea the apex court backed the governments stand highlighting the benefits for sugarcane farmers reduction in the countrys oil imports which had resulted from the E20 programmeThe minister also mentioned studies that showed high pollution levels were leading to a reduction in the life expectancy of peoplenbspHe noted that recent fears over engine damage and warranty issues had been proven false All testing agencies have confirmed there is no problem with implementation he said reaffirming the governments push for cleaner fuelsnbspGadkari also urged the auto industry to pass on the benefits of the scrapping policy to consumers by offering them discounts on the purchase of new cars He said that this would lead to a reduction in pollution and benefit auto manufactures as sales would increasenbspHe also highlighted the GST cut which would boost sales of automobiles terming it a gift from the Prime Minister Indias auto sector has grown from the seventh spot to the third rank in the world which reflects the growing strength of the countrys manufacturing sector as it moves toward Atmanirbhar Bharat the minister added https://dailyworld.in/business/gadkari-lashes-out-at-paid-social-media-campaign-against-ethanol-blended-petrol-637768.html Thu, 11 Sep 2025 15:47:00 +0530 https://dailyworld.in/business/gst-officials-cannot-access-data-from-advocates-cpu-without-presence-consent-delhi-hc-637769.html New Delhi Sep 11 IANS The Delhi High Court has observed that the GST Department ought not to access data from the seized CPU of an advocate without his presence and consent cautioning that such action could result in a serious breach of confidentiality and attorneyclient privilegenbspnbspA Bench of Justices Prathiba M Singh and Shail Jain was hearing a plea by advocate Puneet Batra who challenged a recent search of his Mayur Vihar office and the seizure of documents and electronic devices including his CPUnbspIn his petition Batra a practising advocate argued that the GST Departments action had breached confidentiality as his CPU contained sensitive client documents unrelated to the ongoing probe against one of his clients Ms Martkarma Technology Pvt Ltd a gaming companyOn the other hand the GST Department contended that although the petitioner is an advocate he was not merely representing the company in an attorneyclient capacity but was involved in managing its business and affairsnbspIn its judgment the Delhi High Court refrained from making any observation on the petitioners role or on whether he was involved in running the clients businessnbspThe only direction that the Court is inclined to pass at this stage without going into the merits of this matter is to permit the CPU to be analysed by the GST Department subject however to various precautions and conditions the Justice Singhled Bench saidnbspIt took a stern view of the seizure stressing that the attorneyclient privilege must be preservedGST officials ought not to be permitted to open the CPU or computer of any advocate without his presence and consent inasmuch as the same could lead to serious breach of confidentiality and attorneyclient privilege the Delhi High Court observednbspThe GST Department is cautioned that unless there are exceptional circumstances and subject to further orders that may be passed by the Court if any advocates office is to be searched or a computer is to be opened the same ought to take place in the presence of the advocate and not otherwise it addedHowever it permitted the GST Department to examine the petitioners CPU subject to adherence to a detailed protocolnbspThe Justice Singhled Bench directed that the CPU may be examined only in the presence of Batra his legal representatives IT officials from the Delhi High Court and forensic experts from both sidesnbspIt added that upon accessing the CPU the last date of data access the nature of files accessed during the earlier inspection by GST officials and whether any files were deleted copied or removed along with the corresponding dates and times will be determinedFurther the Delhi High Court ordered that the entire hard drive will be cloned and only files relating to the gaming company and associated entities will be shared with the GST DepartmentnbspAfter the above procedure is undertaken the CPU itself shall be sealed and shall remain in the custody of the GST Department subject to the condition that the same shall not be accessed or opened without further orders of this Court it saidnbspThe Delhi High Court further ordered that no coercive measures shall be taken against the petitioner advocate until further consideration of the case The inspection of the CPU is scheduled for September 11 and 12 with the next hearing fixed for October 30 https://dailyworld.in/business/gst-officials-cannot-access-data-from-advocates-cpu-without-presence-consent-delhi-hc-637769.html Thu, 11 Sep 2025 15:49:00 +0530 https://dailyworld.in/business/india-us-trade-talks-on-track-1st-tranche-expected-by-november-piyush-goyal-637770.html New Delhi Sep 11 IANS Union Commerce and Industry Minister Piyush Goyal on Thursday said that the first tranche of the IndiaUS trade deal is expected to be finalised by NovembernbspHe explained that discussions between the two countries are moving in a positive direction and both sides are satisfied with the progress so farnbspSpeaking to reporters in pollbound Bihar Goyal recalled that in February Prime Minister Narendra Modi and US President Donald Trump had instructed their ministers to work on the pact and finalise the first tranche by November this yearIn February Prime Minister Narendra Modi and President Trump together instructed us that the ministers of both sides should make a good agreement by November Goyal saidnbspThe first part of that agreement the first tranche should be finalised by November 2025 and since March discussions have been going on on this subject very seriously in a very good environment progress is being made and with the progress both sides are satisfied Goyal addednbspHis remarks came a day after PM Modi and President Trump had a friendly exchange on social mediaTrump writing on his platform Truth Social said he was pleased with the ongoing talks and was confident that both nations would reach a successful conclusionnbspI am pleased to announce that India and the United States of America are continuing negotiations to address the Trade Barriers between our two Nations Trump addednbspHe also mentioned that he looks forward to speaking with his very good friend Prime Minister Modi in the coming weeksResponding on X PM Modi called the US a close friend and a natural partner The Prime Minister said the trade talks would help unlock the limitless potential of the IndiaUS partnership and assured that both teams were working to conclude the discussions quicklynbspTrump later reshared PM Modis post highlighting the positive tone between the two leaders https://dailyworld.in/business/india-us-trade-talks-on-track-1st-tranche-expected-by-november-piyush-goyal-637770.html Thu, 11 Sep 2025 16:12:00 +0530 https://dailyworld.in/business/sensex-opens-marginally-up-nifty-near-25-000-amid-mixed-global-cues-637795.html Mumbai Sep 11 The domestic benchmark indices opened a tad higher on Thursday driven by developments in bilateral trade discussions between India and the United States and other global cues As of 925 am Sensex was up 85 points or 011 per cent at 81510 and Nifty was up 24 points or 009 per cent at 24997The broadcap indices outperformed benchmark indices as Nifty Midcap 100 inched up by 016 per cent and the Nifty Small cap 100 moved up 028 per centNTPC ONGC TCS and SBI were among major gainers on the Nifty while losers included SBI Life Insurance Hero Motorcorp Dr Reddys Labs Tech Mahindra and TrentAmong sectoral indices Nifty Media the top gainer jumped 146 per cent Nifty PSU bank up 111 per cent and Nifty oil and gas up 091 per cent were the other major gainers All other indices made marginal gains or lossesThe Nifty extended its rally for a sixth consecutive session yesterday driven by encouraging progress in bilateral trade discussions with the United StatesMarket sentiment however remains cautiously optimistic although persistent volatility and mixed global cues continue to weigh on investor confidenceAnalysts said that a decisive move above 25160 could open the path toward 25340 while immediate support is placed at 24950 and 24850 levelsIn the AsiaPacific markets hopes for a rate cut by the US Federal Reserve rose while investors also assessed August inflation data from China Well above expectations consumer prices in China fell 04 per cent yearoveryear in August according to data from the National Bureau of StatisticsThe Asian markets made strong gains during the morning session Chinas Shanghai index advanced 092 per cent and Shenzhen added 232 per cent Japans Nikkei was up 099 per cent while Hong Kongs Hang Seng Index dipped 041 per cent South Koreas Kospi inched up 031 per centOn Wednesday foreign institutional investors FIIs net sold equities worth Rs 115 crore while domestic institutional investors DIIs net bought shares worth Rs 5004 crore IANS https://dailyworld.in/business/sensex-opens-marginally-up-nifty-near-25-000-amid-mixed-global-cues-637795.html Thu, 11 Sep 2025 16:32:00 +0530 https://dailyworld.in/business/oracles-larry-ellison-becomes-worlds-richest-person-surpasses-elon-musk-637808.html New Delhi Sep 11 US software giant Oracles Cofounder and CTO Larry Ellison has become the worlds richest person overtaking Tesla CEO Elon Musk following a significant increase in his wealth due to the price surge of his companys shares Forbes realtime billionaire rankings show Ellisons fortune increased by 101 billion raising his total net worth to 3957 billion after Oracle shares experienced a historic rally surging 41 per cent on Wednesday on New York Stock Exchange NYSE marking the steepest increase since 1992 Musks fortune has slipped after Tesla shares fell 14 per cent in 2025Oracles stock rose after it issued an aggressive outlook for its cloud business in the race to meet growing demand for artificial intelligence computing taking the companys market valuation to 947 billionFor 300 days Musk was at the top of the global wealth rankings Musk who first became the worlds richest person in 2021 regained the title last year after briefly losing it to Amazon founder Jeff Bezos and LVMHs Bernard ArnaultAt 80 Ellison still serves as Oracles Chairman and Chief Technology Officer He founded the company in 1977 and served as its CEO until 2014 His wealth is closely tied to the software maker which had already risen 45 per cent this year before the latest rallyOracle forecasts total revenue growth of 1214 per cent and cloud revenue growth of 3236 per cent for the second quarter Oracle has recently played a key role in the United States governments push for AI development under President Donald Trumps Project Stargate alongside OpenAI and SoftBankEllison has been vocal about Oracles AI vision even suggesting that AI will bring a new era of monitoring where technology will help improve public behaviour through constant recording and reporting IANS https://dailyworld.in/business/oracles-larry-ellison-becomes-worlds-richest-person-surpasses-elon-musk-637808.html Thu, 11 Sep 2025 16:40:00 +0530 https://dailyworld.in/business/over-10-crore-women-mobilised-into-90-lakh-self-help-groups-in-india-govt-official-637824.html Thiruvananthapuram Sep 11 The Deendayal Antyodaya YojanaNational Rural Livelihood Mission DAYNRLM has mobilised over 10 crore women into 90 lakh selfhelp groups SHGs across the country with many becoming firstgeneration entrepreneurs a government official said here on Thursday Shailesh Kumar Singh Secretary Union Ministry of Rural Development MoRD highlighted the incubator programmes role in advancing womenled rural enterprisesAt an event here he cited the success of pilots in Assam Bihar West Bengal and Karnataka and shared that Kerala Telangana Andhra Pradesh and several other states are scaling up with leading academic partnersThe Ministry in collaboration with Kerala State Rural Livelihood Mission Kudumbashree organised a twoday National Workshop on Rural Enterprise Incubators under DAYNational Rural Livelihood Mission hereAddressing the gathering MB Rajesh State Minister for Local SelfGovernment underlined Keralas commitment to promoting womenled entrepreneurship through Kudumbashree and expressed confidence that the workshop would serve as a platform for collaboration and innovation to strengthen rural enterprise ecosystemsSwati Sharma Joint Secretary RL MoRD government of India emphasised the Ministrys vision of scaling the incubator programme into a national platform for womenled rural entrepreneurship saying that the workshop would generate actionable strategies and strong partnerships for ensuring its longterm successThe workshop will help create an environment for the enterprises selected for the incubator project to growKudumbashree Executive Director H Dineshan welcomed the participants Assam Agricultural University Vice Chancellor Dr Bidyut C Dekha delivered the felicitation addressAccording to the ministry the workshop features panel discussions on mentoring financing technology market access and convergence with the participation of eminent experts from academia industry and social enterprise networks whose insights and contributions will help shape the scaling of rural enterprise incubation across statesThe twoday deliberations are expected to provide actionable strategies for scaling enterprise incubation across states and contribute to empowering women entrepreneurs under DAYNRLM in line with the vision of Viksit Bharat at 2047 IANS https://dailyworld.in/business/over-10-crore-women-mobilised-into-90-lakh-self-help-groups-in-india-govt-official-637824.html Thu, 11 Sep 2025 16:50:00 +0530 https://dailyworld.in/business/indias-finance-companies-loan-books-to-grow-at-22-21-pc-for-next-2-years-report-637827.html New Delhi Sep 11 Indias toprated finance companies fincos are projected to grow their loan books at 2122 per cent over the next two years higher than 1112 per cent for banking sector loan growth thus grabbing market share from banks a report said on Thursday One driver for the sector is its strong presence in retail lending which is still underpenetrated in India SampP Global Ratings said in its reportUpperlayer fincos have strong capital levels which will support high loan growth and provide downside buffersWe also expect earnings momentum to sustain with slightly higher net interest margins over the next two years This will add to the buffer the report saidStricter underwriting standards for Indias fincos will rein in growth plans and defuse risk buildup for this financial niche said SampP Global Ratings credit analyst Geeta ChughAt the same time some slowdown in certain products is likely to continue due to a stronger focus on risk managementThis is reflected in improved underwritinglending primarily to lowrisk customers and with generally low loan approval ratesAccording to the report tighter regulatory supervision in some lending niches including goldbacked loans could also rein in asset expansionAsset quality for fincos is holding up though some pockets of stress persist in micro finance and unsecured loans Chugh notedThis stress can be attributed to rapid growth and exuberant lending practices directed toward borrowers with weak credit profiles without adequate consideration of their repayment capacityThe report emphasised that unsecured personal loans particularly smallticket loans with a higher risk appetite have experienced increased leverage and delinquency ratesThe Reserve Bank of Indias proactive adjustments to the risk weight of unsecured retail loans coupled with tighter underwriting standards could lead to a slight decline in the growth rate of unsecured personal loans to approximately 89 per cent in the fiscal year that ended in March 2025 the report stated IANS https://dailyworld.in/business/indias-finance-companies-loan-books-to-grow-at-22-21-pc-for-next-2-years-report-637827.html Thu, 11 Sep 2025 16:52:00 +0530 https://dailyworld.in/business/extend-itr-audit-deadlines-due-to-portal-glitches-compliance-overload-tax-associations-637833.html New Delhi Sep 11 Chartered accountant associations and tax lawyers have urged the government to extend income tax return ITR and audit deadlines for the assessment year AY 2526 citing ongoing issues with the efiling portal and delays in form releases The Karnataka State Chartered Accountants Association KSCAA has sent a representation to the ministry arguing that ITR5 ITR6 ITR7 and key audit forms were only released in July and AugustThe longestablished practice of notifying ITR forms by 1 April has once again not been followed This year the delays have been particularly grave severely limiting preparation time for tax filers the association was quoted as saying to reportsFurther KSCAA found portal glitches discrepancies in Annual Information Statements frequent downtimes and error messages during peak compliance periodsReturns claiming exemption under Sections 5454F were incorrectly prompting for CGAS utilisation details even in cases where investments were fully utilised it saidFurther it argued that overlapping compliance burdens complicate the challenges Statutory filings for GST MCA and Tax Audit reports overlap with return filing timelines it said Adoption of ICAIs Guidance Note on NCE financials has added substantial audit workload due to expanded disclosures the association notedAccording to the association National holidays and weatherrelated disruptions have further reduced effective working daysMeanwhile the Central India Regional Council CIRC of the Institute of Chartered Accountants of India ICAI requested the ministry to extend the tax audit report submission deadline from September 30 to December 31 2025 due to the same challenges mentioned by KSCAAFurther the Advocates Tax Bar Association ATBA also requested extensions for nonaudit ITRs until October 30 tax audit reports until November 30 and ITR filings in audit cases until December 31 The new deadline for transfer pricing Form 3CEB was proposed as January 31 2026The representations follow the governments extension of the nonaudit ITR deadline to September 15 2025 IANS https://dailyworld.in/business/extend-itr-audit-deadlines-due-to-portal-glitches-compliance-overload-tax-associations-637833.html Thu, 11 Sep 2025 16:55:00 +0530 https://dailyworld.in/business/inflation-likely-to-settle-at-2-pc-in-aug-as-food-prices-cool-report-637841.html New Delhi Sep 11 The consumer price index CPI is likely to settle at 2 per cent in August a Bank of Baroda BOB report said on Thursday citing a projected decline in its Essential Commodity Index ECI The public sector lender said that the BoB ECI has been in deflation territory for 4th consecutive month in a row declining by 1 per cent on a yearonyear YoY basis in August and by another 09 per cent in the first 9 days of SeptemberThe major support had come from vegetables and pulses supported by better production In September prices of tomato onion and potato are showing a downward correction in prices with pronounced correction visible for tomato the bank statedApart from this global food and energy prices also remained in favour of a lower inflation rateThe current move of the government to lower GST rates on the majority of FMCG and durable goods among others is a sigh of relief for inflation We assess the overall impact on CPI to be 5575 basis points the report highlightedTen out of 20 commodities in the index witnessed deflation with the sharpest pace being observable for Onion and PotatoFor onion the decline in retail prices is the sharpest since January 2021 at 375 per cent YoY For potato as well the current print is at its 44month lowest the report notedAmong pulses most of the subcomponents are witnessing successive periods of deflationMaximum decline is visible for turarhar which has fallen by 29 per cent in August The other categories of pulses which noted a considerable decline are urad 89 per cent moong 52 per cent and masoor 14 per cent the public sector lender statedThe decline in inflation is supported by better production In fact in the ongoing Kharif season the sown area of pulses has improved Among cereals the retail price of rice has softened at a slower paceOn a monthovermonth MoM basis BoB ECI increased by 1 per cent in August However it has increased by 08 per cent on a seasonally adjusted MoM meaning that the seasonal phenomenon is partially responsible for the sequential price buildup IANS https://dailyworld.in/business/inflation-likely-to-settle-at-2-pc-in-aug-as-food-prices-cool-report-637841.html Thu, 11 Sep 2025 17:06:00 +0530 https://dailyworld.in/business/personal-data-of-5-561-users-may-have-been-compromised-s-koreas-kt-637843.html Seoul Sep 11 KT Corp said on Thursday that personal data of over 5500 users may have been compromised in a recent mobile payment breach issuing a public apology for the failure at the countrys secondlargest mobile carrier We confirmed a possible leak of international mobile subscriber identity IMSI data affecting 5561 users KT said in a statement We reported the case to the Personal Information Protection Commission PIPC this afternoon and notified affected customers via text message about relief measuresKim Youngshub chief executive officer CEO of KT also apologised at a press conference pledging full compensation reports Yonhap news agencyWe sincerely apologise to all customers affected by unauthorized mobile payments he said We will do our utmost to prevent further damage and provide full compensation to victimsSince August 27 some KT users mostly in southwestern Seoul have reported unauthorized mobile transactionsThe government has launched a joint special team to probe the incidentKT said the IMSI data may have been exposed after illegal unregistered micro base stations connected to its communication network IMSI data a unique identifier for each subscriber stored in a universal subscriber identity module USIM chip can be misused if leakedIt said about 19000 customers mobile phones had connected to the illegal base stations at least once though not all of them experienced unauthorized financial transactionsOf those the IMSI data of 5561 customers was possibly leaked the company addedAs of Wednesday authorities have confirmed 278 cases of unauthorized mobile payments worth 170 million won 122000 reported by KT usersKT said it will support all 19000 affected customers by replacing USIM chips free of charge and providing a USIM protection serviceThe recent breach at KT came just months after SK Telecom Co reported a massive data leak that affected more than 20 million users raising public concerns over data protection at local telecom companies IANS https://dailyworld.in/business/personal-data-of-5-561-users-may-have-been-compromised-s-koreas-kt-637843.html Thu, 11 Sep 2025 17:07:00 +0530 https://dailyworld.in/business/scheduled-commercial-banks-credit-offtake-rises-99-pc-in-q1-fy26-psbs-lead-momentum-637852.html New Delhi Sep 11 Scheduled Commercial Banks SCBs credit offtake went up 99 per cent onyear in the first quarter of the current financial year Q1 FY26 a report said on Thursday The growth was driven primarily by increases in the housing gold loans and vehicle finance segments Care Edge Ratings said in a reportAdditionally the momentum was further supported by credit expansion in the MSME segment which grew at 193 per cent in Q1 FY26 partly offset by a moderation in agriculture 68 per cent industry 55 per cent and services 96 per centThe credit offtake of public sector banks PSBs has continued to outpace private sector banks PVBs since the last three quarters as PSBs had greater headroom for lending with stable credittodeposit CD ratios as compared to PVBs the report statedThe northeastern region with an annual growth of 137 per cent outperformed other regions Meanwhile the rural segment grew the fastest among all the regions at 128 per centMeanwhile in June credit outstanding rose to Rs 331 lakh crore in the 78 per cent interest rate bracket increasing from Rs 20 lakh crore in the same month a year agoLower rate brackets less than 6 per cent saw a rise to Rs 183 lakh crore from Rs 53 lakh crore while highyield segments more than 11 per cent declined to Rs 27 lakh crore from Rs 303 lakh crore indicating that banks are increasingly favouring midyield loans while reducing their exposure to highinterest lendingAccording to the report deposits witnessed a faster growth compared to credit with a YoY growth at 109 per cent driven by stronger mobilisation efforts by private banks and competitive deposit rates on select products In absolute terms deposits expanded by Rs 226 lakh crore from June 2025The Credit to Deposit CD ratio declined by 78 bps by the end of June 2025 and reached 796 per cent compared to 804 per cent over a year ago with the deposit growth rate outpacing that of credit offtakeFurthermore the gap between the two has narrowed compared to the previous year supported by improved liquidity conditions following the RBIs rate cuts the report mentioned IANS https://dailyworld.in/business/scheduled-commercial-banks-credit-offtake-rises-99-pc-in-q1-fy26-psbs-lead-momentum-637852.html Thu, 11 Sep 2025 17:19:00 +0530 https://dailyworld.in/business/indias-overall-office-stock-projected-to-exceed-2-billion-sq-ft-by-2047-report-637855.html New Delhi Sep 11 Driven by increasing institutionalisation demand scaleup and strong economic growth prospects Indias overall office stock is likely to exceed 2 billion square feet by 2047 a report said on Thursday Grade A office stock in India has surged over 3 times since 2010 to more than 800 million sq ft currently driven by accelerated demand from both Global Capability Centres GCCs and domestic players across segments such as technology BFSI engineering and manufacturing etc Colliers said in a report in collaboration with Confederation of Real Estate Developers Association of India CREDAIOn the industrial and warehousing front Grade A stock levels surpassed the 250 million sq ft mark in 2025 growing multifold compared to 2010 levels amid robust infrastructure development private sector participation and evolving consumer demand as well as warehousing requirementsAccording to the report demographic shifts rising income levels and improved affordability and housing salesIn the 2010s urban migration driven by IT led to a surge in demand for housing across tier I cities of the country Furthermore the Real Estate Regulation and Development Act RERA brought in the muchneeded transparency and accountabilityAlthough housing sales took a hit in the immediate aftermath of the COVID19 pandemic the segment bounced back subsequently on a stronger footing evident by recordbreaking sale volumes in recent yearsOver the next few decades Indias median age is expected to rise further to 3040 years a range that aligns with peak income and consumption levelsThis transition represents a sweet spot for the economy as a significant proportion of the workforce enters their prime earning yearsCoupled with an anticipated rise in income levels and supported by progressive housing policies annual housing sales could potentially double to 1 million units by 2047 the report statedIndian cities are urbanising rapidly with nearly 900 million people 53 per cent of the population projected to live in urban areas by 2050 up from the current levels of 37 per centTo accommodate this growth urban development needs to expand beyond the established tier I cities into smaller tier II and III cities and emerging growth corridors as wellIndia is not just expanding its infrastructure it is reimagining the future of urban living In the last 25 years even though budgetary infrastructure allocations increased at a CAGR of 1314 per cent a lot more needs to be done especially in the wake of rapid urbanisation said Vimal Nadar National Director and Head of Research Colliers IndiaIndias real estate sector is set for a highpaced multifaceted growth across asset classesContinued government impetus along with alignment of multiple private and public stakeholders should help India become the thirdlargest economy by 2030 Further the Indian economy can potentially reach 3540 trillion by 2047At the core of this economic transformation is Indias real estate sectors contribution to the GDP has grown steadilyfrom under 5 per cent in the early 2000s to 68 per cent today and is projected to reach 1420 per cent positioning it as a potential 10 trillion growth catalyst by 2047 the report statedShekhar Patel President CREDAI said By 2047 Indian real estate will not just be measured in square feet or asset values it will be defined by the quality of life we create for millions of citizens The sector is uniquely positioned to reimagine Indias urban future designing climateresilient cities building affordable yet aspirational homes and nurturing ecosystems that foster innovation and inclusivity IANS https://dailyworld.in/business/indias-overall-office-stock-projected-to-exceed-2-billion-sq-ft-by-2047-report-637855.html Thu, 11 Sep 2025 17:22:00 +0530 https://dailyworld.in/business/indias-semiconductor-market-is-expected-to-reach-1035-billion-by-2030-637865.html New Delhi Sep 11 Indias semiconductor market at 543 billion in 2025 is expected to touch 1035 billion by 2030 growing at a 138 per cent compound annual growth rate CAGR outpacing global benchmarks a report said on Thursday The nations semiconductor story is still anchored in the devices we use every day smartphones laptops and industrial systems which together make up about 70 per cent of the market Quess Corp a workforce solutions provider said in its reportWith the rise in demand for electric vehicles 5G rollouts and the rapid buildout of data centres the market for advanced chips is set for an unprecedented expansion with the hyperscale capacity expected to grow by more than 75 per cent by 2030 and EVs targeted to make up nearly a third of all new vehiclesThe India Semiconductor Mission ISM is laying the foundation for domestic capability backed by Rs 16 lakh crore worth of projects and close to 29000 new jobsAlongside this investments such as Microns ATMP plant in Gujarat are strengthening packaging and testing depth while state initiatives in regions like Tamil Nadu Kerala and Gujarat are helping Tier2 clusters emerge as serious semiconductor destinationsIndias semiconductor industry is entering a defining decade As the Government of India fasttracks approvals for ISM 20 which is likely to exceed 10 billion our report highlights both the scale of opportunity and the challenges in the talent readiness aspect said Kapil Joshi CEOIT Staffing Quess CorpFrom everydayuse devices to electric vehicles and advanced data centres demand is expanding across the board and India is becoming an integral part of global supply chains What makes this story unique is the combination of scale and capability he addedIndias semiconductor global capabilities centres GCCs are no longer backend support units Almost half of new chip programmes now include AI accelerators and onethird of verification teams are using machine learningEngineers here are already working on nextgen domains such as multidie integration AIassisted placeandroute TinyML firmware and AIdriven timing closure These advances make India a testing ground for AIfirst design workflows that global players are beginning to adopt the report notedIndia already has more than 250000 semiconductor professionals with 43000 new postings in 202425This pool is projected to grow by over 120 per cent to nearly 400000 by 2030 making India the worlds secondlargest semiconductor talent hub after the USThe workforce spans across design embedded systems EDA tool development and ATMP manufacturing showing that India is building capability across the entire value chain the report stated IANS https://dailyworld.in/business/indias-semiconductor-market-is-expected-to-reach-1035-billion-by-2030-637865.html Thu, 11 Sep 2025 17:30:00 +0530 https://dailyworld.in/business/apples-india-shipments-likely-to-hit-record-14-15-million-units-this-year-637866.html New Delhi Sep 11 US tech giant Apples iPhone shipments in India are projected to grow by up to 25 per cent to reach a record 1415 million units in 2025 according to industry estimates The surge in shipments is driven by heavy discounts on older models and strategic pricing of the newly launched iPhone 17 seriesResearch firm International Data Corporation IDC India expects dispatches to reach 15 million units in 2025 up from 12 million in 2024 while Canalys projects 1420 million and Counterpoint Research estimates 1819 per cent growth targeting 8 per cent market share in the Indian smartphone marketIndustry experts noted that India Apples fastestgrowing global market is expected to remain central to its sales trajectory over the next two years with festive demand playing a key roleThe newlylaunched iPhone 17 is priced at Rs 82900 94054 slightly higher than the iPhone 16 The base model offering 128 GB storage has been discontinued with all new variants now offering 256GB storage at a lower price compared to the previous generations Rs 89900 1019 for the same capacityResearch firm Canalys forecasted the companys domestic wholesale revenue to grow to Rs 108412 crore 1230 billion in 2025 from Rs 98717 crore 1120 billion last year supported by upgrades to Pro models and sales of the new iPhone Air modelThe rising attach rates of ecosystem products will also boost revenue growth the firm saidAnalysts noted that the iPhone 16 was Indias highestselling model in H1 2025 driving 9650 per cent growth in the premium smartphone segment With EMI schemes and expanding flagship retail stores in Mumbai New Delhi Bengaluru and Pune Apple is expected to broaden its consumer base and strengthen its ecosystem presence in IndiaApple 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/apples-india-shipments-likely-to-hit-record-14-15-million-units-this-year-637866.html Thu, 11 Sep 2025 17:33:00 +0530 https://dailyworld.in/business/expansion-of-trusted-traveller-programme-to-five-airports-to-boost-tourism-hm-amit-shah-637867.html New Delhi Sep 11 IANS Union Home Minister Amit Shah on Thursday expanded the Trusted Traveller Programme to five more airports making immigration simpler faster and hasslefree and promoting tourism with speed scale and scope as envisioned by Prime Minister Narendra ModinbspSpeaking at the inauguration of the programme at Lucknow Thiruvananthapuram Trichy Calicut and Amritsar airports via video conferencing HM Shah said The scheme offers a great opportunity to apprise visitors about the sweeping changes taking place in the countryHe said it was a happy coincidence that the facility is being expanded to the five airports on the historic day on which 132 years ago Swami Vivekanand through his brilliant address at the Parliament of the Worlds Religions in Chicago presented the radiant vision of Indian culture and Sanatan Dharma to the entire worldnbspIn a way that moment marked the resurgence of Indian culture and that phase has continued till today he saidnbspHM Shah said the Trusted Traveller Programme is a step to realise PM Modis dream of Speed Scale and Scope as the latter has repeatedly stressed that we need to work on a trust multiplier while employing technological toolsnbspBut more than just putting a system in place we need to ensure that the maximum number of people avail the service he saidThe Fast Track Immigration Trusted Traveller Programme FTITTP is a governmentled initiative designed to expedite immigration clearance for eligible travellers The government targets to provide the facility to nearly two dozen airportsnbspInitially available for Indian nationals and OCI cardholders this programme ensures a faster smoother and more secure travel experience for preverified passengersnbspThe easy quick process using biometric egates reduces waiting time at airports from around 30 minutes to secondsnbspInitially launched as a complimentary facility for OCI cardholders and Indian nationals the programme has now been extended to several major airportsnbspThe system requires online registration and provides biometric data including fingerprints and facial images to avail troublefree immigration at participating airportsnbspThe biometric data can be directly provided to airports or the Foreigners Regional Registration Offices FRROs under the Ministry of Home Affairs https://dailyworld.in/business/expansion-of-trusted-traveller-programme-to-five-airports-to-boost-tourism-hm-amit-shah-637867.html Thu, 11 Sep 2025 17:34:00 +0530 https://dailyworld.in/business/indian-indices-continue-winning-streak-for-fourth-straight-trading-session-637871.html Mumbai Sep 11 The Indian stock market settled with gains on Thursday after a slow start in the morning trade continuing the winning streak for the fourth consecutive day this week Sensex ended the session at 8154873 up 12358 points or 015 per cent The 30share index started the session a bit lower at 8121730 against last sessions closing of 8142515 However the index bounced back into green amid a mixed approach The index hit an intraday high at 81642 up over 400 points as compared to the days lowNifty closed at 2500550 up 3240 points or 013 per centThe Nifty50 index has closed above the critical threshold of 25000 The unexpected imposition of a 50 per cent tariff on India by the US initially dragged the main index down to 24400 However the index has been steadily recovering from this decline said Vinod Nair Head of Research Geojit Investments LimitedThis resurgence can be attributed to several factors like expectation of limited impact on the domestic economy the Indian governments robust strategic response to US longterm policies and the announcement of significant domestic reforms such as the GST to mitigate traderelated repercussions he addedNTPC Axis Bank Eternal PowerGrid Bharti Airtel Sun Pharma SBI Asian Paints and TCS were the top gainers from the Sensex basket Infosys Titan Ultratech Cement Hindustan Unilever BEL Trent Tata Motors and Tech Mahindra settled lowerThe majority of sectoral indices edged higher amid a mixed approach Nifty Fin Services jumped 54 points or 021 per cent Nifty Bank escalated 133 points or 024 per cent and Nifty FMCG ended the session 103 points or 018 per cent higher While Nifty Auto and Nifty IT declinedBroader indices remained rangebound amid timid investors sentiment Nifty Small Cap 100 and Nifty Midcap 100 ended flat while Nifty Next 50 and Nifty 100 settled in positive territoryRupee traded weakly by 035 per cent at 8840 amid mixed FII flows and a firmer dollar indexFocus remains on the US CPI data which could drive volatility in the dollar and in turn the rupee Crude prices stayed volatile but hovered in lower zones offering partial support said Jateen Trivedi of LKP SecuritiesMarket sentiment remains tied to updates on the USIndia trade deal which could trigger sharper moves For now the rupee can be seen trading within 87858810 as support and 88558870 as resistance analysts added IANS https://dailyworld.in/business/indian-indices-continue-winning-streak-for-fourth-straight-trading-session-637871.html Thu, 11 Sep 2025 17:38:00 +0530 https://dailyworld.in/business/india-reaches-2515-gw-non-fossil-capacity-targets-swadeshi-solar-value-chain-minister-637872.html New Delhi Sep 11 IANS Indias 2030 vision of achieving 500 GW of nonfossil capacity is already more than halfway achieved with the country crossing 2515 GW of nonfossil capacity Union Minister for New and Renewable Energy Pralhad Joshi said on ThursdaynbspnbspJoshi also said that India is firmly moving towards building a complete Swadeshi solar value chain with the target of achieving indigenous solar cell manufacturing by 2028nbspSpeaking at the State Review Meeting on Renewable Energy organised by the Ministry of New and Renewable Energy he said the country is now advancing beyond modules to develop domestic capacity for wafers and ingots as well ensuring that the entire solar manufacturing ecosystem is established within the countryThe minister said this step will not only reduce import dependence but also generate employment boost investment and strengthen Indias position as a global leader in clean energy manufacturingnbspHe appreciated the remarkable efforts of states in advancing renewable energy initiatives noting that these contributions are strengthening Indias position as a global leader in the sectornbspJoshi termed the achievements a testament to the visionary leadership of Prime Minister Narendra Modi which transformed Indias clean energy growth and domestic manufacturing in renewable energy RE sector and is accelerating the march towards Viksit BharatHighlighting key schemes the minister said that nearly 20 lakh households have already benefitted under the PM Surya Ghar Muft Bijli YojananbspHe urged states and discoms to ensure strict quality compliance finalise agreements without delay and offer the best possible tariff credits to consumersnbspOn the PMKUSUM scheme he noted that after initial reluctance the scheme has now gained strong momentum across states with demand for additional allocations from Chief Ministers He announced that the second phase of PMKUSUM will be launched after the present phase ends in March 2026nbspThe minister underlined that India has also achieved the milestone of 50 per cent of installed electricity capacity from nonfossil fuel sources five years ahead of schedule https://dailyworld.in/business/india-reaches-2515-gw-non-fossil-capacity-targets-swadeshi-solar-value-chain-minister-637872.html Thu, 11 Sep 2025 17:40:00 +0530 https://dailyworld.in/business/north-gujarat-emerging-as-indias-agro-dairy-powerhouse-set-to-host-vgrc-meet-637873.html Gandhinagar Sep 11 North Gujarat is positioning itself as Indias next agrodairy hub with the upcoming Vibrant Gujarat Regional Conference VGRC in Mehsana on October 910 set to highlight investment opportunities in agriculture food processing and dairy as per official information shared on Thursday The twoday event will feature seminars networking sessions and sectorspecific discussions showcasing the regions potential in potato cultivation spice production and dairy value chains Aravalli is carving a niche with its potatobased products like fries and chips exporting to 12 countries alongside organic spices such as fennel methi and turmericBanaskantha Gujarats largest potatoproducing district with 187 million tonnes in 202425 also leads globally in isabgol exports and is home to Asias largest cooperative Banas Dairy which supports over 300000 farmersMehsana historically significant is now a centre for agriprocessing highquality spices and dairy with the Unjha Market Yard dominating Indias spice trade and Dudhsagar Dairy expanding its footprint across domestic marketsSabarkantha is emerging as a new agroprocessing hub backed by Sabarkantha Dairys strong milk production and NABARDs projection of over 58 million metric tons in storage demand opening avenues for infrastructure investments Together these districts are driving North Gujarats transformation into a powerhouse of agriculture and allied industries With strong ecosystems modern infrastructure and global market linkages the region is fast becoming a magnet for investors eyeing Indias food and dairy economyNorth Gujarat comprising districts like Mehsana Banaskantha Sabarkantha Aravalli and Patan has a distinct sociopolitical and cultural identity that makes it highly influential in Gujarats politicsThe region is dominated by the Patidar Thakor Rabari Chaudhary and other agrarian and pastoral communities whose voting patterns often shape electoral outcomes at both the state and national levelsLeaders from North Gujarat including several chief ministers and prominent cabinet ministers have played decisive roles in Gujarats political landscape making it a stronghold for power negotiations Beyond politics the region is known for its cooperative movement especially the dairy sector with Amul Banas Dairy and Dudhsagar Dairy which has not only boosted rural economies but also fostered a unique model of peoples empowermentHistorically North Gujarat has also been a centre of cultural richness Jain temples and stepwells while socially it reflects resilience in the face of droughtprone conditions Its people are seen as hardworking enterprising and deeply rooted in traditional values which adds to the regions reputation as both a political pivot and an economic engine of GujaratOn September 4 Chief Minister Bhupendra Patel stated that the Vibrant Gujarat Regional Conference to be held under the guidance of Prime Minister Narendra Modi will showcase the unique industrial potential economic strengths and cultural heritage of different regions of the state on a wider scale The CM was addressing the interactive session and roadshow organised in New Delhi with leading industrialists and officials from industrial organisations for the promotion of the Vibrant Gujarat Regional Conferences IANS https://dailyworld.in/business/north-gujarat-emerging-as-indias-agro-dairy-powerhouse-set-to-host-vgrc-meet-637873.html Thu, 11 Sep 2025 17:41:00 +0530 https://dailyworld.in/business/ireda-raises-rs-453-crore-via-perpetual-bonds-issue-oversubscribed-269x-637875.html New Delhi Sep 11 The Indian Renewable Energy Development Agency Limited IREDA on Thursday announced that it has successfully raised Rs 453 crore through its second issue of perpetual bonds offering a 770 per cent annual interest rate The fundraising took place on September 11 and received a strong response from investors with bids worth Rs 1343 croreAgainst a base size of Rs 100 crore and a green shoe option of Rs 400 crore the issue was oversubscribed 269 timesIREDA said the funds raised will strengthen its capital base and support the financing of renewable energy projects across the countryChairman and Managing Director Pradip Kumar Das thanked investors for their trust saying the strong response reflected confidence in IREDAs role as a key driver of Indias renewable energy transitionThese bonds will strengthen our TierI Capital and help scale up renewable energy financing accelerating Indias transition to a greener and more sustainable future Das statedHe added that the bonds would help scale up financing and accelerate the move towards a greener and more sustainable futureI sincerely thank all the investors for their overwhelming response and continued trust in IREDA which motivates us to deliver even greater value to the renewable energy ecosystem and the nation he mentionedPerpetual bonds are unique instruments as they have no fixed maturity date and can only be redeemed at the companys discretion The securities carry a 770 annual coupon with a onetime stepup of 50 basis points if not called after 10 years Considered hybrid instruments they rank senior to equity and provide companies with longterm stable capital while offering investors steady returnsMeanwhile earlier this year IREDA has successfully raised Rs 200590 crore through Qualified Institutions Placement QIPThe Indian public sector enterprise said on June 11 that the capital was mobilised by issuing 1215 crore equity shares at a price of Rs 16514 per share which includes a premium of Rs 15514 per share over the face value of Rs 10 IANS https://dailyworld.in/business/ireda-raises-rs-453-crore-via-perpetual-bonds-issue-oversubscribed-269x-637875.html Thu, 11 Sep 2025 17:43:00 +0530 https://dailyworld.in/business/zupee-to-lay-off-170-employees-after-ban-on-real-money-gaming-637878.html New Delhi Sep 11 Online gaming company Zupee announced on Thursday that it will lay off 170 employees about 30 per cent of its workforce after the government passed a Bill banning online games involving money in August Zupee joins other realmoney games RMG companies like Games24x7 Baazi Games and Mobile Premier League that have sacked employees after the banThis has been a tough call for us but was necessary to adapt to the new regulatory framework Our colleagues who are leaving us have been an integral part of Zupees journey and we will always remain thankful for their contribution said Dilsher Singh Malhi founder and chief executive officer of ZupeeGurugrambased gaming platform said that besides payment in lieu of the notice period it is offering additional financial support linked to years of service to the 170 employeesHealth and insurance benefits from the company will continue for the full term after the affected employees leave the companyIn addition we have set up a Rs 1 crore medical support fund to provide extra security so no one feels unprotected while they explore their next opportunity the company said in a statementThe company informed that it will prioritise rehiring its laidoff workforce when new roles open upThe government enacted a law in August that banned online money games that require users to make deposits with the expectation of winning money The new law which impacts the countrys 38 billion gaming industry was expected to wipe out around 2 lakh jobs Rs 25000 crore in foreign direct investment and Rs 20000 crore in tax revenuesThe Act imposed 3 years of imprisonment and Rs 1 crore in fines for those found offering helping abetting inciting or indulging in RMG Further the bill proposed two years in prison or a Rs 50 lakh fine for advertising promoting or sponsoring such games Further it recommended a regulator for esports educational platforms and social games IANS https://dailyworld.in/business/zupee-to-lay-off-170-employees-after-ban-on-real-money-gaming-637878.html Thu, 11 Sep 2025 17:46:00 +0530 https://dailyworld.in/business/surats-bullet-train-station-spurs-rapid-urban-planning-tp-scheme-cleared-in-record-time-637897.html Surat Sep 11 Surat has become the first city to see a town planning TP scheme linked to a bullet train station cleared in record time officials said on Thursday This scheme is for Indias ambitious MumbaiAhmedabad HighSpeed Rail projectThe preliminary award for TP Scheme No 61 KosmadaChedchaOviyan was announced within just eight months a rare feat in the history of urban planning in IndiaOfficials say this milestone reflects Gujarats governance model that blends technology transparency and public participationThe scheme covering nearly 164 hectares is part of a larger plan involving five TP schemes across 909 hectares in Surat aimed at developing the highspeed rail node area into a modern wellplanned urban hubMore than 300000 square metres of land in TP61 alone has been earmarked for new road networks ensuring seamless connectivity around the upcoming bullet train stationAuthorities stress that the scheme is not just a planning document but a roadmap for inclusive futureoriented urban growthUrban planners highlighted the historic timing exactly a century ago in September 1925 Indias first town planning scheme Jamalpur Ahmedabad was implementedToday Surats TP61 has set another benchmark by being awarded in under a year a process that traditionally takes years due to land hearings legal formalities and coordination between multiple departmentsChief Town Planner KD Patel noted that the state government is celebrating 2025 as the Year of Urban Development underlining the states push towards worldclass city planningWith the bullet train project supported by the Japan International Cooperation Agency JICA and the Ministry of Housing and Urban Affairs Surat is set to emerge as a competitive futureready city with modern infrastructure housing and multimodal connectivityBy integrating surrounding villages like Kosmada Chedcha Antroli Sabargam Oviyan Niol and Vankaneda into its planning the scheme ensures balanced growth combining economic zones residential areas and public utilitiesExperts say Surats fasttrack TP approval could serve as a model for other cities gearing up for largescale infrastructure projects IANS https://dailyworld.in/business/surats-bullet-train-station-spurs-rapid-urban-planning-tp-scheme-cleared-in-record-time-637897.html Thu, 11 Sep 2025 18:30:00 +0530 https://dailyworld.in/business/indias-authentication-and-traceability-industry-projected-to-reach-rs-16-575-cr-by-fy29-report-637907.html New Delhi Sep 11 The Indian authentication and traceability AampT industry is projected to reach Rs 10612 crore in FY 202425 and Rs 16575 crore by FY 202829 reflecting a strong upward trajectory with a forecasted compound annual growth rate CAGR of 113 per cent a report said on Thursday The sector was at Rs 9705 crore in FY 202324 growing at a CAGR of 74 per cent since FY 201920 according to a joint report of the Authentication Solution Providers Association ASPA and AccentureGlobally the AampT market stood at 147 billion in 2023 and is projected to grow to 382 billion by 2032The AsiaPacific region is expected to lead this growth with a CAGR of 142 per cent driven by increasing regulatory mandates and rising consumer demand for transparency and authenticityAccording to the report key sectors driving demand in India include pharmaceuticals 17 per cent consumer products 14 per cent cosmetics 13 per cent and automotive components 13 per centFactors such as the rise in counterfeiting growing ecommerce penetration consumer awareness and regulatory requirements are contributing to the sectors growthThis report is a milestone for Indias fight against counterfeiting Authentication and traceability are no longer optional they are essential to protect consumers safeguard brands and build trust in the marketplace With Indias AampT industry set to grow at doubledigit rates this study will guide policymakers businesses and stakeholders in shaping a safer more transparent future said Manoj Kochar President ASPA addressing the eventWhile traditional technologies like holograms and QR codes continue to dominate growing interest in nextgeneration technologies such as blockchain internet of things IoT and AI the report highlightedThe report was prepared based on survey responses from ASPA member companies along with indepth interviews with government authorities industry stakeholders and global bodies IANS https://dailyworld.in/business/indias-authentication-and-traceability-industry-projected-to-reach-rs-16-575-cr-by-fy29-report-637907.html Thu, 11 Sep 2025 19:16:00 +0530 https://dailyworld.in/business/spicejet-delhi-kathmandu-flight-returns-after-suspected-fire-later-cleared-to-fly-637908.html New Delhi Sep 11 A Kathmandubound SpiceJet flight faced a suspected tailpipe fire at Delhi airport on Thursday 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 hoursAccording to the airline another aircraft on the ground reported a suspected tailpipe fire prompting the pilots to return as a precautionary measureSpiceJet said there were no warnings or alerts in the cockpit during the incident The aircraft was later inspected thoroughly by engineers and no abnormalities were foundOn September 11 a SpiceJet aircraft scheduled to operate from Delhi to Kathmandu returned to bay after another aircraft on the ground reported a suspected tailpipe fire the airline said in a statementNo warnings or indications were observed in the cockpit but the pilots decided to return as a precautionary safety measure it addedThe aircraft underwent detailed engineering checks and no abnormalities were found The aircraft was subsequently cleared for operations and has already landed in Kathmandu the spokesperson mentionedSpiceJet assured that the decision to return was taken only to ensure safety The number of passengers on board was not immediately knownA 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 engineSuch incidents typically happen on the ground either during engine startup or shutdown according to aviation safety platform SKYbraryDespite the scare officials confirmed that the aircraft was safe and ready to resume operations after checksThe shares of the airline closed at Rs 3364 up Rs 058 or 175 per cent on the National Stock Exchange NSE on ThursdayIn the last five days the shares have fallen by Rs 182 or 513 per centHowever in the past one month the stock has risen by Rs 196 or 619 per cent Over the last six months the stock has declined by Rs 1541 or 3142 per cent IANS https://dailyworld.in/business/spicejet-delhi-kathmandu-flight-returns-after-suspected-fire-later-cleared-to-fly-637908.html Thu, 11 Sep 2025 19:17:00 +0530 https://dailyworld.in/business/nepals-trade-with-china-grew-but-india-remains-largest-partner-637911.html New Delhi Sep 11 Indias geographic proximity longstanding trade treaties dutyfree access for many goods and seamless land transit routes have made it Nepals largest trade partner By contrast trade corridors linking Nepal to China remain underdeveloped and annual trade with China estimated at 724 million is a fraction of its India tallyBilateral trade with India exceeded 8 billion at current exchange rate in the fiscal year 202223 according to a Nepal embassy statement on May 8Imports in the 202223 fiscal amounted to more than 7 billion and exports to India stood at about 755 millionBut a shift though comparatively small was palpable say reportsIn the first nine months of the fiscal year 202324 total exports from Nepal decreased by 37 per cent compared to the same period in the previous fiscal year claimed the online news portal nepsetradingThe reduction in exports is attributed mainly to a significant drop in exports to India which fell by 62 per cent it reported adding Conversely exports to China surged by 232 per centHowever it noted that it still represented a small fraction of total exports Meanwhile exports to other countries also saw a decline of 2 per centWhile total imports for the same period witnessed a decline of 28 per cent including India by 32 per cent volume from China increased significantly by 334 per centSince Communist leaders assumed charge in Nepal the government turned towards the Dragon which observers attributed to their shared political philosophyIn fact when the nowresigned Prime Minister of Nepal K P Sharma Oli decided to pay an official visit to China in end2024 the media reported a strategic departure from the tradition where Nepali leaders made India their first foreign destination upon assuming officeThe shift was viewed as one highlighting the evolving dynamics of Nepals foreign policyAll this while trade and economy lagged even as political protests hit the streets from time to time leading to frequent changes in governmentNepals trade is at a crossroads Once a key exporter of agricultural commodities the country now struggles to sustain its own demand for essential goods including paddy milk and sugarcane observed Sumit Bikram Rana Program Director The Himalayan DialoguesWriting in The Himalayan Times in March this year he urged that Nepal should focus on positioning itself as a competitive supplier in Indian markets rather than viewing India solely as a dominant exporterHistorically a net exporter of paddy sugarcane and lentils the Himalayan country now imports staples such as wheat sugar and cooking oilKey agricultural bottlenecks include fragmented landholdings preventing largescale cultivation poor storage and logistics underdeveloped agroprocessing units and lack of allweather irrigation facilitiesAs a result Nepals agricultural exports have languished even while Chinese and Indian supplies flood domestic markets further discouraging local producersThe World Bank projected Nepals economy to grow 45 per cent in FY2025 up from 39 per cent in FY 2024 despite significant natural disasters in late 2024 It predicted growth to be driven by increased domestic trade hydropower generation and paddy productionIt is now to be seen how the country copes with the new wave of protest movement sweeping the country IANS https://dailyworld.in/business/nepals-trade-with-china-grew-but-india-remains-largest-partner-637911.html Thu, 11 Sep 2025 19:20:00 +0530 https://dailyworld.in/business/metas-reels-emerges-as-indias-top-short-form-video-platform-five-years-after-launch-637915.html New Delhi Sep 11 US tech giant Metas Reels has become the leading shortform video format in India with 92 per cent of users favouring it over competitors after five years of its launch in the country a report released on Thursday said The Metacommissioned study surveyed over 3500 respondents in 33 cities and 95 per cent of users reported watching Reels daily on Instagram at least 12 percentage points ahead of other surveyed platforms like YouTubeMeta reported that Instagram Reels drove 33 per cent higher engagement than other surveyed platforms The study shows that Reels continues to fuel major online trends from dance challenges memes and POVs to GRWM beauty transitions and more the company said in a statementReels drive cultural conversations leading consumption across genres with users watching more content on fashiontrends and styles up 40 per cent compared to other platforms beauty and makeup up 20 per cent compared to other platforms and musicmovies up 16 per cent compared to other platforms the report saidIndia is leading the world in video adoption and Reels is at the center of this shift Meta will continue to innovate with AI support creators and help businesses unlock the power of shortform video said Arun Srinivas Managing Director and Head Meta IndiaThe report also highlighted Metas increasing influence in commerce Around 80 per cent of surveyed Indians said they discover new brands on Meta platformsReels ads also deliver two times stronger topofmind recall and four times stronger message association compared to longform video ads while being 15x more effective in driving brand metrics as compared to longform skippable video ads the report statedTo unlock the full potential of Reels marketers need to focus on capturing deepening and scaling attention by winning attention through socialfirst creatives designed specifically for the Reels format the company noted IANS https://dailyworld.in/business/metas-reels-emerges-as-indias-top-short-form-video-platform-five-years-after-launch-637915.html Thu, 11 Sep 2025 19:23:00 +0530 https://dailyworld.in/business/ceos-of-big-food-firms-pledge-to-pass-on-gst-rate-cuts-to-consumers-637927.html New Delhi Sep 11 Leading CEOs from big food companies on Thursday voluntarily pledged to pass on the benefits of GST rate reductions to the consumers The assurance was given at a meeting convened by the Ministry of Food Processing Industries in collaboration with the Confederation of Indian Industry CII The roundtable chaired by Chirag Paswan Minister of Food Processing Industries provided an important platform for open dialogue between government and industry stakeholdersThe business leaders also committed to sensitising smaller enterprises across the ecosystem ensuring farmers receive better value and advancing the goals of import substitution and Make in India Industry captains noted that the reforms would not only lower prices but also stimulate demand ultimately driving growth across the sectorThe discussions focused on the recently announced NextGeneration GST Reforms which rationalize the tax structure into a simplified twoslab system of 5 per cent and 18 per centThese reforms aimed at reducing complexity addressing inverted duty structures and enhancing ease of doing business are expected to significantly benefit the food processing ecosystemWith key staples dairy bakery and packaged food products now under the 5 per cent or nil tax bracket the sector is poised to witness greater consumer affordability improved liquidity for enterprises and stronger competitiveness in domestic and global marketsIn his keynote address the minister reaffirmed the governments commitment to creating an enabling environment for investment innovation and inclusive growth across the food processing sector He urged industry leaders to ensure that the benefits of GST rationalisation are passed on equitably across the value chain from farmers and MSMEs to consumersQuoting the Prime Ministers vision of Reform Perform and Transform the Minister emphasised how the GST reforms have rationalised the tax structure corrected longstanding anomalies and created fresh opportunities for growth He underlined that food processing is among the biggest beneficiaries of the reforms calling it a transformative step for a sector that has the potential not only to drive value addition but also to reduce Indias dependence on importsThe Minister stressed that the objective of todays interaction was to step up collective responsibility for the smooth implementation of GST reforms He called upon industry to actively work towards passing benefits to consumers enhancing product quality formalising the unorganised sector and ensuring greater income security for farmersHighlighting Indias global standing as the largest producer of several agricultural commodities the Minister noted that low levels of value addition remain a challenge He encouraged industry to view the reforms as an opportunity to invest in technology diversify product offerings and expand into global marketsIndustry leaders shared their perspectives on opportunities in exports product diversification and technology adoption while also flagging areas requiring further facilitation The session concluded with a reaffirmation of government industry partnership to unlock the sectors full potentialThe Ministry also announced that the 4th edition of World Food India will be held from 25th28th September 2025 at Bharat Mandapam in DelhiAs Indias premier global platform for the food processing sector the event will feature B2B and B2G meetings sectoral roundtables and international exhibitions buyerseller meets and much more offering unparalleled opportunities for investment innovation and partnerships IANS https://dailyworld.in/business/ceos-of-big-food-firms-pledge-to-pass-on-gst-rate-cuts-to-consumers-637927.html Thu, 11 Sep 2025 20:17:00 +0530 https://dailyworld.in/business/indias-life-insurance-sector-expected-to-clock-145-pc-cagr-over-fy23-35-report-637931.html New Delhi Sep 11 Indias life insurance industry is expected to clock a compound annual growth rate CAGR of 145 per cent over FY2335 making it one of the most promising segments in Indias financial services space a report said on Thursday The Indian life insurance industry has grown at a CAGR of 11 per cent over the past two decades FY0525 to Rs 1203bn in FY25 PL Capital a financial services organisation said in a reportThe recently announced GST exemption will improve affordability enhance persistency and deepen penetration driving stronger longterm growthHowever it may create shortterm profitability challenges as insurers lose access to input tax creditsDespite steady expansion in recent decades Indias life insurance penetration remains significantly below global benchmarksAt 28 per cent of GDP in FY24 it trails the developed market average of 56 per cent Similarly insurance density in India stood at just 70 per capita compared with 3182 in advanced economiesThis gap highlights a multidecade opportunity for the industry particularly as households increasingly allocate savings towards financial instrumentsWith nominal GDP projected to grow at 105 per cent annually coupled with rising financial awareness life insurance is set to emerge as a critical pillar of Indias household balance sheets the report highlightedAccording to the report the structural factorssuch as the absence of social security nets a growing middle class and increasing life expectancywill fuel demand for protection and annuity productsThese segments currently underpenetrated are expected to contribute significantly to the sectors longterm growthThe report highlighted that historically Unit Linked Insurance Plans ULIPs have dominated the product mix aided by buoyant equity markets and attractive tax benefitsHowever the report anticipates ULIP shares to moderate as customers gravitate towards nonlinked offeringsListed insurers have seen an increase in the share of ULIP 3565 per cent in FY25 against 1655 per cent in FY23 according to the reportThe sector has navigated several regulatory changes over the past few years including new surrender value guidelines for expenseofmanagement EoM IANS https://dailyworld.in/business/indias-life-insurance-sector-expected-to-clock-145-pc-cagr-over-fy23-35-report-637931.html Thu, 11 Sep 2025 20:21:00 +0530 https://dailyworld.in/business/gst-rationalisation-to-benefit-both-coal-producers-and-consumers-coal-ministry-637933.html New Delhi Sep 11 The Goods and Services Tax GST council has brought significant changes to the taxation structure of the Coal sector by removing the compensation cess the Ministry of Coal said on Thursday Earlier Coal attracted a 5 per cent GST along with a compensation cess of Rs 400 per ton The Council has now recommended the removal of the GST Compensation cess and an increase in the GST rate on coal from 5 per cent to 18 per centThe new reforms reduce the overall tax on coal grades G6 to G17 which is in the range of Rs 1340 per ton to Rs 32961 per ton The average reduction for the power sector is Rs 260 per ton which will reduce the cost of generation by 17 to 18 paise kWh the ministry saidThe reforms will also help in the rationalisation of the tax burden on coal as compared to its pricingPreviously a flat rate of Rs 400 per tonne was imposed as GST compensation cess without considering coal quality This disproportionately affected lowquality and lowpriced coalFor example G11 noncoking coal which is the majority of coal produced by Coal India Limited had a tax incidence of around 6585 per cent compared to G2 coal where the incidence was 3564 per centWith the cess removed tax incidence across all categories of coal has now been rationalised to a uniform rate of 3981 per centDespite an increase in GST Rates from 5 per cent to 18 per cent the reforms will have a lower overall tax incidence on the final consumer due to the removal of GST compensation CessSimilarly the removal of cess rationalisation of duty and correction of the inverted structure release liquidity eliminate distortions and prevent large accounting losses for coal producers the ministry saidThe decisions of the GST council represent a balanced reform that benefits both coal producers and consumers alike IANS https://dailyworld.in/business/gst-rationalisation-to-benefit-both-coal-producers-and-consumers-coal-ministry-637933.html Thu, 11 Sep 2025 20:22:00 +0530 https://dailyworld.in/business/meghalaya-basin-received-rs-224-crore-in-three-years-cm-sangma-637935.html Shillong Sep 11 The Meghalaya Basin Development Authority MBDA has secured funding of Rs 224 crore over the past three years with the largest share of Rs 18230 crore allocated in the current financial year 202425 for implementing innovative and crosssectoral projects across the state Chief Minister Conrad Sangma said on Thursday Sangma while replying to a question raised by North Shillong VPP legislator Adelbert Nongrum in the Assembly said MBDA received Rs 24 crore in 202324 and Rs 1770 crore in 202223He stressed that the authoritys accounts are regularly audited by the Comptroller and Auditor General CAG ensuring transparency in its functioningSangma informed the House that MBDA established in 2012 under the Societies Registration Act of 1860 operates as a Special Purpose Vehicle SPV and functions as a registered societyHe further clarified that the Meghalaya Basin Management Agency MBMA is a separate notforprofit entity under Section 8 of the Companies Act created primarily to meet the requirements of international funding agencies such as IFADExplaining the mandate of MBDA the Chief Minister said the agency is tasked with coordinating crosssectoral and innovative development projectsIt is not restricted in implementing initiatives whether they are externally aided projects EAPs or centrally sponsored schemes CSSOn recruitment Sangma said MBDA follows a structured and transparent process involving examinations and qualification checks All 729 employees currently serving under the authority are locals he emphasised adding that the selection process is guided by a professional human resource policyResponding to Nongrums concern about whether the creation of MBDA suggests a lack of capacity among government departments Sangma dismissed the notion outrightHe underlined that departmental budgets have grown significantly from Rs 9000 crore earlier to nearly Rs 30000 crore now which is proof of their efficiencyDepartments continue to implement their specific projects MBDA exists mainly to ensure coordination where multiple departments are involved he explainedIn reply to a separate query by VPP legislator Heavingstone Kharpran from Mawryngkneng the chief minister informed that projects aimed at protecting catchment areas for Shillong and Tura water supply are currently in progress IANS https://dailyworld.in/business/meghalaya-basin-received-rs-224-crore-in-three-years-cm-sangma-637935.html Thu, 11 Sep 2025 21:13:00 +0530 https://dailyworld.in/business/upi-transaction-limit-raised-to-rs-10-lakh-for-p2m-payment-from-sep-15-637940.html New Delhi Sep 11 The National Payments Corporation of India NPCI on Thursday announced a major revision in Unified Payments Interface UPI limits for PersontoMerchant P2M transactions effective September 15 The move is aimed at making highvalue digital payments easier and more convenient for users while ensuring strong security measuresUnder the new rules users can now make P2M transactions of up to Rs 10 lakh in a single day for specific verified merchant categoriesHowever the limit for PersontoPerson P2P transfers remains unchanged at Rs 1 lakh per dayThe changes are expected to benefit sectors where customers often faced restrictions on large transactions forcing them to split payments or use traditional options such as cheques and bank transfersFor investments in capital markets and insurance the pertransaction limit has been increased from Rs 2 lakh to Rs 5 lakh with a maximum of Rs 10 lakh in a dayOn the Government eMarketplace GeM portal including tax payments and earnest money deposits the limit has been raised from Rs 1 lakh to Rs 5 lakh per transactionThe travel sector has also received a significant boost with the transaction cap rising from Rs 1 lakh to Rs 5 lakh along with a daily limit of Rs 10 lakhCredit card bill payments can now be made up to Rs 5 lakh per transaction with a maximum of Rs 6 lakh in a dayFor loan repayments and EMI collections the new limit is Rs 5 lakh per transaction and Rs 10 lakh per dayJewellery purchases will now be allowed up to Rs 2 lakh in a single transaction compared to the earlier limit of Rs 1 lakh with a daily cap of Rs 6 lakhBanking services like term deposits through digital onboarding have also been enhanced with limits raised to Rs 5 lakh per transaction and per day up from Rs 2 lakh earlierNPCI said these changes will make UPI more useful for highvalue payments across critical sectors encouraging wider adoption of digital transactions in India IANS https://dailyworld.in/business/upi-transaction-limit-raised-to-rs-10-lakh-for-p2m-payment-from-sep-15-637940.html Thu, 11 Sep 2025 21:17:00 +0530 https://dailyworld.in/business/maha-govt-signs-mou-for-investment-valued-at-rs-108-lakh-crore-to-generate-47-000-jobs-637948.html Mumbai Sep 11 The Maharashtra government on Thursday signed memorandums of understanding MoUs for investment worth Rs 108599 crore for setting up for various projects such as information technology and food processing industries warehouses data centres and logistics hubs in the state The proposed investment is expected to generate 47000 jobs the government saidThese MoUs were signed in the presence of Chief Minister Devendra FadnavisChief Minister Fadnavis said Investors and the industry sector play a major role in the economic progress of Maharashtra The state government is always ready to fulfill the expectations of industry and investors The government is striving to ensure that entrepreneurs have a positive experience of investing in MaharashtraAdani Enterprises Limited will invest Rs 70000 crore to set up an integrated coal surface gasification downstream derivatives project which will provide employment to 30000 peopleEarlier CM Fadnavis added that Maharashtra is an industryfriendly state in the country and it is the best for industry and investment with conducive ecosystemHe also said that under the Ease of Doing Business the state has a conducive environment for investment and industryStating that the state government is always ready to fulfill the expectations of investors and entrepreneurs CM Fadnavis said that the state government is formulating new and comprehensive policies for various sectorsPolicies for 14 sectors will be announced in the coming days This includes the service sector The service sector plays a major role in the economic progress of the state The Maharashtra Industry Trade and Investment Facilitation Cell MAITRI portal has been created so that entrepreneurs and investors do not face any problems and can obtain all the permissions quickly This is a onestop scheme and efforts are being made to ensure that entrepreneurs have a good experience while investing in the state he added IANS https://dailyworld.in/business/maha-govt-signs-mou-for-investment-valued-at-rs-108-lakh-crore-to-generate-47-000-jobs-637948.html Thu, 11 Sep 2025 22:16:00 +0530 https://dailyworld.in/business/govt-launches-rs-100-crore-fund-to-boost-green-hydrogen-start-ups-637949.html New Delhi Sep 11 Union Minister for New and Renewable Energy Pralhad Joshi on Thursday launched a Rs 100 crore Call for Proposals to support startups working on green hydrogen innovation The announcement was made at the 1st Annual Green Hydrogen RampD Conference organised by the Ministry of New and Renewable Energy MNRE in the national capitalThe scheme will provide funding of up to Rs 5 crore per project for pilot projects in areas such as hydrogen production storage transport and utilisation technologiesAt the conference 25 startups are showcasing their innovations including electrolyser manufacturing AIdriven optimisation and biological hydrogen solutionsJoshi said the initiative is aimed at turning research into practical solutions that can power industries clean cities and generate lakhs of new jobs across the countryHe underlined Prime Minister Narendra Modis vision for the National Green Hydrogen Mission NGHM launched in 2023 with an outlay of Rs 19744 crore to make India a global hub for green hydrogenThe minister also highlighted the progress made so far including 23 RampD projects already awarded in areas like safety and integration hydrogen production from biomass and hydrogen applicationsIndias first portbased green hydrogen pilot project at VO Chidambaranar Port hydrogen buses and refuelling stations and pilot projects in the steel and shipping sectors were cited as examples of the mission moving from vision to actionJoshi pointed out that India recently discovered a record low price of Rs 4975 per kg in its firstever green ammonia auction compared to Rs 10028 per kg in 2024 marking a big step forward in affordabilityHe also noted that both large corporations and startups are investing heavily to build a complete hydrogen value chain creating employment opportunities and boosting Indias export potentialReiterating Indias targets under NGHM Joshi said the country aims to produce five million metric tonnes of green hydrogen annually by 2030 add 125 GW of renewable energy capacity attract investments worth Rs 8 lakh crore and reduce 50 million tonnes of CO emissions each yearThe twoday Green Hydrogen RampD Conference will feature expert sessions interactive discussions and a startup expo reflecting Indias strong push towards becoming a global leader in the hydrogen economy IANS https://dailyworld.in/business/govt-launches-rs-100-crore-fund-to-boost-green-hydrogen-start-ups-637949.html Thu, 11 Sep 2025 22:18:00 +0530 https://dailyworld.in/business/isro-inks-agreement-with-hal-for-sslv-technology-transfer-637701.html New Delhi Sep 10 Indias space sector saw its 100th Technology Transfer Agreement on Wednesday enabling Hindustan Aeronautics Limited HAL to independently produce Small Satellite Launch Vehicles SSLVs The agreement facilitated by the Indian National Space Promotion and Authorisation Centre INSPACe was signed by the Indian Space Research Organisation ISRO NewSpace India Limited NSIL Indian National Space Promotion and Authorisation Centre INSPACe and HALISRO will transfer SSLV knowhow to HAL over 24 months including training and technical support During this period ISRO will provide necessary training and technical support to HAL for acquiring the knowhow of the SSLV from commercials to technology integration eventually leading to the accomplishment of the two missions under the agreement an official statement saidThe agreement will help India meet the increasing demand in the global smallsatellite launch marketIt is aimed at advancing Indias capabilities in space technology and commercial activities and is a formative step towards democratising the SSLV space the statement addedDr V Narayanan Secretary Department of Space and Chairman ISRO said With Indias liberalisation of the commercial space sector opportunities are certainly growing and at ISRO we have a dynamic technology transfer mechanism to realise the shared goalsISRO will guide the HAL team on the preparednesstoflight tangent of SSLV This would define the next phase of deeptech collaboration in space in India he addedINSPACe Chairman Pawan Goenka described the partnership as a crucial advancement strengthening the industrial ecosystem within Indias space sectorWith this transfer HAL will now independently take up the realisation of SSLV and cater to both domestic and international markets he addedDr DK Sunil CMD HAL said that the company will use its engineering and manufacturing strength to build SSLVs train the required workforce to build a selfreliant costcompetitive business ecosystem in India to domestic and global customers IANS https://dailyworld.in/business/isro-inks-agreement-with-hal-for-sslv-technology-transfer-637701.html Wed, 10 Sep 2025 19:20:00 +0530 https://dailyworld.in/business/gst-rationalisation-to-empower-traders-exporters-and-common-man-cbic-chairman-637706.html New Delhi Sep 10 As India prepares to usher in the GST 20 era from September 22 Central Board of Indirect Taxes and Customs CBIC Chairman Sanjay Kumar Agarwal spoke to IANS on a myriad of issues related to rate rationalisation and its impact on traders exporters and the common man Here are some of the excerpts from the interactionQ How can the Chinese market help Indian exporters tackle US tariff pressureA It depends on what items are being exported to China and because the exporters can always explore new markets China can be one of them So if they find that they are competitive in entering the Chinese market definitely they can make a foothold there There is always a possibility to enter into the new markets and regainQ Should petrol and diesel be included under GST Will this move benefit common peopleA Petrol and diesel are presently subject to Central excise duty and VAT by states and these two petroleum items fetch a substantial revenue to the states by way of VAT and to the Central government by way of central excise duty So looking to the revenue implications it may not be possible to bring these items under the ambit of GST for the time beingQ What will be the impact of GST rationalisation on input tax credit claimsA If I provide the details the details are like that in case of exports the supply is zerorated and in case of zerorated supplies a refund of the accumulated ITC is claimed So now the GST council has recommended that in the case of an identified and riskevaluated taxpayer a refund can be granted within 7 days and without the officers interventionQ What is the impact of GST rationalisation on the economyA In the GST rate cut one is that there is a huge simplification which has happened And now there are only two rates 18 per cent which is the standard rate and 5 per cent which is the merit rateEarlier because of the multiple rates there were a lot of disputes arising out of interpretation And that was creating a lot of uncertainty in the minds of taxpayers Now that uncertainty will go This exercise has resulted in huge rate cuts on the majority of the items the items which are used by the common man as daily necessities The rate has been brought down from 12 per cent or 18 per cent to 5 per centGST rationalisation will help tackle the US tariff impact It may generate increased domestic consumption new markets logistic cost reduction and make our exports more competitive Exporters will have lower costs and that will help them remain competitive in Europe tooQ What is the impact of duty reduction on goldA On gold the rate of duty remains the same which is 3 per cent a special rate on the lower side Since there is no change there is no impact on goldQ Can the Indian economy be the thirdlargest economy in the world despite US tariffsA The thing is that the Indian economy is otherwise growing at a fast pace in the large economies and for that a lot of investment from foreign institutional investors is also required At times we have received representations about the complicity in GST in India Because when they make an investment decision then they consider the Indian economy with competitive economies in the world where they see an investment opportunitySo once the GST law has been really made simple and transparent so for investment the concerns earlier shown will disappear and I think India will become a more attractive destination for making the investment That will also help in India in its journey to become the 3rd largest economy in the worldQ How is the CBIC looking to minimise fraudA In fact this ITC fraud was the reason that the registration process was started and there were many checks which were prescribed So this will be a huge relief to those who want to come into the GST ecosystem and this will help in making it more attractive to them and they will be in fact nudged to become tax compliant take the registration and start discharging their GST liabilities IANS https://dailyworld.in/business/gst-rationalisation-to-empower-traders-exporters-and-common-man-cbic-chairman-637706.html Wed, 10 Sep 2025 20:01:00 +0530 https://dailyworld.in/business/electronic-permits-reach-12913-million-in-aug-ahead-of-gst-20-rollout-637707.html New Delhi Sep 10 India saw electronic permits eway bills reach 12913 million in August marking the secondhighest monthly figure ahead of the GST 20 rollout from September 22 Eway bills are electronic permits required for transporting goods worth over Rs 50000 within or across states A hike in Eway bills indicates higher movement of goodsIn July the tally was alltime high of 13191 million according to Goods and Services Tax Network GSTN dataThe eway bill generation went up 225 per cent yearonyear as per the dataAccording to industry experts the sustained momentum in eway bills signals a resilient flow of goods across the country as domestic demand rises ahead of the festive seasonEway bill generation has maintained an upward trajectory for several months The electronic permits are mandatory for tracking the movement of goods across the countryAccording to experts the robust recovery in eway bill generation suggests stabilisation of goods movement which underscores several positive developments including increased manufacturing output improved infrastructure and logistics efficienciesThis also shows greater formalisation in the economy as compliance levels rise under the GST regimeThe rollout of GST 20 would add fresh fuel to consumption as mass consumption would follow the formalisation trend while premium consumers would aspire for differentiated offeringsAccording to Emkay Global Financial Services improving macro tailwinds continue to support the sectors elevated valuations even as growth support is still awaitedThe anticipatory rally ahead of the GST 20 announcement was rewarding As we factor in benefits and lift target prices of select stocks our stock calls remain firm the report addedThe Centre has rationalised the indirect tax structure cutting the current four slabs down to two scrapping the 12 per cent and 28 per cent rates while retaining the 5 per cent and 18 per cent slabs IANS https://dailyworld.in/business/electronic-permits-reach-12913-million-in-aug-ahead-of-gst-20-rollout-637707.html Wed, 10 Sep 2025 20:01:00 +0530 https://dailyworld.in/business/gst-reform-to-make-itc-refund-easy-for-identified-and-risk-evaluated-taxpayer-cbic-chairman-637716.html New Delhi Sep 10 The GST Council has recommended that in case of an identified and riskevaluated taxpayer a refund can be granted within seven days and without an officers intervention the Central Board of Indirect Taxes and Customs CBIC Chairman Sanjay Kumar Agarwal has said In an interaction with IANS Agarwal said that in the case of exports the supply is zerorated and in the case of zerorated supplies a refund of the accumulated input tax credit ITC is claimedSo now the GST Council has recommended that in case of an identified and riskevaluated taxpayer a refund can be granted within 7 days and without the officers intervention he saidEarlier Agarwal mentioned that in order to continue with ease of doing business reforms the GST registration process has been further simplified especially for small businesses and lowrisk applicantsUnder the new system registration will be granted within three working days to eligible applicantsSmall businesses that estimate they will not be availing more than Rs 25 lakh of input tax credit can opt for this simplified registrationSuch registration will be granted automatically by the system within three working days After operating this registration if they grow and they want to transition to the normal registration again there is a provision and based on the risk analysis for the normal category of registration they can be transitioned to the normal category Agarwal addedThe Centre has rationalised the indirect tax structure cutting the current four slabs down to two scrapping the 12 per cent and 28 per cent rates while retaining the 5 per cent and 18 per cent slabsMeanwhile in what comes as a relief to ecommerce exporters the GST Council has approved DGFTs proposal to eliminate the value threshold for GST refunds on lowvalue consignmentsThe relevant section of the CGST Act 2017 will be amended to allow refunds for exports made with payment of tax regardless of valueThis longawaited reform addresses the concerns of small exporters particularly those shipping through courier or postal services and is expected to greatly simplify procedures and facilitate lowvalue ecommerce exports according to the Commerce Ministry IANS https://dailyworld.in/business/gst-reform-to-make-itc-refund-easy-for-identified-and-risk-evaluated-taxpayer-cbic-chairman-637716.html Wed, 10 Sep 2025 20:46:00 +0530 https://dailyworld.in/business/positive-exchange-of-words-in-india-us-trade-dialogue-raises-hopes-of-tariff-relief-economists-637721.html New Delhi Sep 10 Economists on Wednesday praised positive developments in the IndiaUS trade talks saying it has sent a clear message to the world that India is a serious player They underlined that Indias economy is growing and that it needs to be acknowledged as a vital component of international tradeEconomist Rajiv Sahu told IANS that US President Donald Trumps recent remarks suggest he is keen on reconciliation and the credit goes to Prime Minister Narendra Modi for taking a firm stand against the US while also exploring alternatives with Russia China and other countriesIndia has stood firm instead of yielding to US pressure and it now appears that both countries can move ahead towards a trade agreement on reasonable tariff terms At no cost can India be underestimated Sahu saidEconomist Prabir Kumar Sarkar noted that trade talks between India and the US began in February 2025 when both PM Modi and President Trump expressed their commitment to increasing bilateral trade from 200 billion to 500 billion by 2030In the last decade IndiaUS relations have strengthened significantly The 50 per cent tariff imposed on India in August could have posed challenges but Trumps reference to Modi as a good friend indicates hope for constructive solutions in the ongoing trade discussions he addedSarkar expressed confidence that India would be able to resolve its exportrelated concerns through these negotiationsMeanwhile economist Gurcharan Das stressed the need for India to work towards reducing the 50 per cent tariff pointing out that doing so would create longterm benefits for the Indian economy through stronger trade ties with the USAt the same time Chief Economist of Israels Finance Ministry Shmuel Abramzon welcomed the progress in the talks remarking that Israel is pleased to see two of its close allies engaging positivelyIndia has immense potential to become a truly developed nation The country has valuable assets skilled human resources and an effective government capable of driving reforms he saidWith strong international partnerships India can position itself as a global economic powerhouse he added IANS https://dailyworld.in/business/positive-exchange-of-words-in-india-us-trade-dialogue-raises-hopes-of-tariff-relief-economists-637721.html Wed, 10 Sep 2025 20:50:00 +0530 https://dailyworld.in/business/ai-technology-amp-innovation-to-drive-indias-growth-story-piyush-goyal-637734.html New Delhi Sep 10 Commerce and Industry Minister Piyush Goyal said on Wednesday that Artificial Intelligence technology and innovation will be the driving forces of Indias growth story Addressing the 58th convocation ceremony of the Indian Institute of Foreign Trade IIFT here the minister congratulated the graduating class of 2025 and called upon them to harness their skills agility and vision to lead the country towards Viksit Bharat 2047Goyal underlined the role of technology and artificial intelligence in driving Indias growth story pointing out the transformative potential of AI robotics machine learning quantum computing and innovation across key sectors such as manufacturing agriculture healthcare and education Coupled with Indias large pool of 23 million STEM graduates every year he said these advancements can reduce dependence on foreign technology and empower industries and services while uplifting those at the bottom of the pyramidRecounting his experience of running a skill development centre in Mumbai with the CII the NSDC Kyndryl and IBM the minister shared how students from modest backgrounds quickly adapted to newage technologies such as cybersecurity reflecting Indias innate ability to embrace knowledge and innovation He emphasised that Indias youthful population with an average age of 284 years is its greatest strength in the journey from a 4 trillion economy to one worth 3035 trillionGoyal cited Prime Minister Narendra Modis vision of selfreliance in technology from operating systems to cybersecurity and deep tech to artificial intelligence He said India must secure primacy in technology globally and make the nation proudHighlighting the economic vision of the government under Prime Minister Modi the Minister said it is rooted in building a developed nation a Viksit Bharat ensuring prosperity for every child born in the country The focus he said is on resilience sustainability inclusiveness and innovationdriven growth with an aim to improve quality of life bridge the ruralurban divide reduce poverty and promote ease of doing business and ease of livingCiting Indias strong macroeconomic fundamentals low inflation and fastestgrowing large economy status Goyal highlighted the increasing global interest in India with over 2500 international companies already present in the country He said this unprecedented opportunity places the destiny of the nation in the capable hands of the youthChancellor IIFT and Secretary Department of Commerce Sunil Barthwal in his address emphasised that resilience adaptability and ethical leadership will be the defining qualities that shape Indias continued success on the international stage About the opportunities ahead he urged students to align their aspirations with the nations larger goals reminding them that every step forward they take in their careers adds to the progress of the country IANS https://dailyworld.in/business/ai-technology-amp-innovation-to-drive-indias-growth-story-piyush-goyal-637734.html Wed, 10 Sep 2025 21:44:00 +0530 https://dailyworld.in/business/eacc-to-make-tn-hub-for-global-trade-and-ev-exports-says-rohit-gupta-637756.html Chennai Sep 10 In a significant step toward boosting international trade and investment the Eurasia Afro Chamber of Commerce EACC announced plans to transform South India especially Tamil Nadu into a strategic trade hub focusing on exports of medical equipment and electric vehicles EVs The announcement came during an investor press meet held at a private hotel in Egmore Chennai with Dr Rohit Gupta Global President of EACC addressing the mediaHighlighting the organisations vision Dr Gupta said The main objective of this is to build trade relations between Africa and South India and strengthen the crossborder trade and investment framework based on the African economy and tradeHe revealed that EACC has signed an agreement in South India positioning Tamil Nadu as its operational headquarters to spearhead trade initiatives across Asia Africa and EuropeWe are going to turn South India into a trade market with Tamil Nadu as our headquarters said Dr Gupta emphasising the states potential in manufacturing and exportsHe further added that the African market has a high demand for EVs and medical equipment and with robust infrastructure already in place in Tamil Nadu the exports would be routed from hereWe have sent our business amp purpose to the Tamil Nadu government the Central government and all embassies he stated confirming that dialogues are underway with relevant authoritiesDr Gupta announced that the Global Investment Market will be launched between November and December pending approval from the Tamil Nadu governmentCountries including Ghana Liberia and Morocco have asked for EVs and medical equipment Since the infrastructure is here we are going to export from here he notedThe EACC is targeting an investment inflow of Rs 2000 crores with export mechanisms being set up on a guaranteebased modelBy connecting Asia Africa and Europe we want to strengthen the economic diplomacy create equitable investment opportunities and accelerate sustainable global progress Dr Gupta remarked IANS https://dailyworld.in/business/eacc-to-make-tn-hub-for-global-trade-and-ev-exports-says-rohit-gupta-637756.html Wed, 10 Sep 2025 23:48:00 +0530 https://dailyworld.in/business/sensex-nifty-jump-over-positive-development-on-india-us-trade-talks-637550.html Mumbai Sep 10 The Indian benchmark indices opened higher on Wednesday on the back of promising developments in the USIndia trade discussions along with strong overnight global cues US President Donald Trumps initiative to improve IndiaUS relations and Prime Minister Narendra Modis positive response to the same is a positive cue for the Indian marketThe Sensex was up 334 points or 041 per cent at 81435 in the early morning trade and the Nifty was up 106 points or 043 per cent at 24975The broadcap indices made strong gains as Nifty Midcap 100 inched up by 073 per cent and the Nifty Small cap 100 moved up 071 per centIn the Nifty pack Larsen and Toubro Kotak Mahindra Dr Reddys Labs and TCS were the major gainers The major losers were Hero Motocorp Maruti Suzuki Tata Steel and HindalcoAmong sectoral indices Nifty IT the top gainer jumped 188 per cent Nifty PSU bank and Nifty Realty were the other major gainers Only Nifty Auto down 033 per cent and Nifty Consumer durables were in the redNifty on Tuesday faced resistance near the 24900 level for the second consecutive session The index formed a small green candle with a long lower shadow on the daily chart reflecting ongoing consolidation and intraday volatilityNifty continued its upward journey yesterday rising for the fifth consecutive session and closing at a twoweek high By closing above 24791 Nifty managed to reclaim its level above 50 DEMA The index has now decisively surpassed its 5 10 20 and 50day DMAs which is a bullish signal on shortterm charts said Devarsh Vakil Head of Prime Research at HDFC SecuritiesAccording to market analysts buying interest is visible at lower levels and the 2490025000 zone continues to act as a stiff hurdle Immediate support is placed at 24620 and as long as the index trades below 25000 some consolidation or mild weakness may persist they saidUS markets made strong gains overnight as the Dow Jones Industrial Average inched up 043 per cent while the Nasdaq advanced by 037 per cent and the SampP 500 gained 027 per cent The rally was driven by expectations for Federal Reserve rate cuts following a sharp downward revision to US job dataThe Asian markets were firmly in green during the morning session Chinas Shanghai index advanced 017 per cent and Shenzhen added 024 per cent Japans Nikkei was up 06 per cent while Hong Kongs Hang Seng Index added 098 per cent South Koreas Kospi inched up 155 per centOn Tuesday foreign Institutional Investors FIIs snapped their 11day selling streak by purchasing equities worth Rs 2050 crore while domestic institutional investors DIIs net bought shares worth Rs 83 crore IANS https://dailyworld.in/business/sensex-nifty-jump-over-positive-development-on-india-us-trade-talks-637550.html Wed, 10 Sep 2025 09:59:00 +0530 https://dailyworld.in/business/apple-ramps-up-india-manufacturing-with-iphone-17-eyes-record-festive-season-growth-637551.html New Delhi Sep 10 Apple which is stepping up its manufacturing push in India has spread iPhone 17 production across five local factories which will be available in the country from September 19 According to analysts on Wednesday the festive season is set to herald new sales records for the USbased giant Apple is also expected to manufacture fewer units of the Pro models in India according to industry sourcesFoxconn has started rolling out iPhone 17 units at its new 28 billion facility in Devanahalli near Bengaluru The plant which is Foxconns secondlargest iPhone factory outside China is now running alongside its Chennai unitExperts view the Bengaluru factorys launch and the broader manufacturing shift as a major milestone in Apples diversification strategyMoreover despite inflationary and tariff pressures affecting global supply chains Apple has largely maintained stable US dollar pricing supported by expanded local manufacturing in India which mitigates geopolitical risksTarun Pathak Research Director at Counterpoint Research told IANS that Apple now has a widest range of iPhone portfolio and is set to garner a major share in the upcoming festive seasonAround 6065 per cent of iPhones in India are being purchased on EMIs which would also work well for the new iPhone 17 series From the form factor point of view iPhone 17 Air looks stunning and will sure catch more eyeballs in the domestic market especially with its Pro performance and best of the silicon he notedI think the camera remains the best for iPhones in this new lineup especially on the 17 Pro Series Pathak addedWhile iPhone 17 256 GB starts at Rs 82900 iPhone 17 Air 256 GB begins from Rs 119900 iPhone 17 Pro 256 GB starts from Rs 134900 and iPhone 17 Pro Max 256 GB from Rs 149900iPhone Air features a breakthrough titanium design that is elegant and light yet strong The back of iPhone Air is now protected with Ceramic Shield and the front cover uses Ceramic Shield 2 delivering 3x better scratch resistance making iPhone Air more durable than any previous iPhone iPhone Air also features a stunning 65inch Super Retina XDR display with ProMotion up to 120HzAccording to Prabhu Ram VPIndustry Research Group IRG CMR with the allnew iPhone 17 series introducing a refreshed design language Apple is wellpositioned for a strong festive season in IndiaThe iPhone 17 Air brings notable design innovation likely driving upgrades from loyalists of older models while the iPhone 17 Pro lineup features a functional performancefocused design reminiscent of the Apple Watch Ultra the largest battery ever in an iPhone and a major camera leap with an 8x telephoto lens and up to 40x digital zoom Durability enhancements including improved drop and scratch resistance align with growing consumer demand for longer device lifecycles Ram told IANSCombined with the strong festiveseason performance of older iPhone generations the sizeable underpenetrated upgrade pool in India presents significant growth opportunities provided Apple can convert consumer interest into sales he maintainedApples bet on India has already started to pay off Between April and July this year iPhones worth 75 billion were exported from India compared to 17 billion in the entire previous fiscal year Apple CEO Tim Cook also recently underlined Indias growing role in the companys supply chain IANS https://dailyworld.in/business/apple-ramps-up-india-manufacturing-with-iphone-17-eyes-record-festive-season-growth-637551.html Wed, 10 Sep 2025 10:09:00 +0530 https://dailyworld.in/business/gst-reforms-to-stimulate-consumption-without-derailing-govts-fiscal-consolidation-moodys-637559.html New Delhi Sep 10 Goods and Services tax GST reforms are expected to boost domestic consumption without disrupting the trend of fiscal consolidation a new report has said The Centre may reduce government spending in the next two quarters to maintain fiscal consolidation trends according to a report from ratings agency MoodysThe government estimates a net foregone revenue of Rs 48000 crore 54 billion for this year based on FY24 data calculations The GST reform may impact the governments efforts to reduce debt the report saidIndia continues to have the weakest debt affordability among investmentgrade sovereigns with interest payments amounting to about 23 per cent of general government revenue in fiscal 202425 the note saidThe rating agency reported that the revenue loss from the rate adjustment is expected to exceed government estimates with a more pronounced strain in coming yearsGiven the governments use of revenueeroding measures to support growth over the past year we do not expect significant revenueenhancing measures over the remainder of its term This in turn preempts material gains in debt reduction or improvements in debt affordability Moodys highlightedThe decrease in effective GST rates however could enhance private consumption and support economic growth it saidThe GST reform serves as additional fiscal policy support for households complementing the higher income tax thresholds introduced in February which exempted many middleincome households from paying income taxes and lowered income tax payments for othersMoodys noted that both measures aim to boost household consumption which represents approximately 61 per cent of GDPThe GST Council last week revised the tax structure to a twoslab rate of 5 per cent and 18 per cent introducing a new 40 per cent GST rate on sin goods effective September 22A report from SBI Research had earlier said that the overall headline revenue loss to the government is likely to be contained with a concomitant shift in sin goods from 28 per cent slab to 40 per cent slabThe GST 20 regime while also involving an average revenue loss of Rs 85000 crore is estimated to have boosted consumption by Rs 198 lakh crore it noted IANS https://dailyworld.in/business/gst-reforms-to-stimulate-consumption-without-derailing-govts-fiscal-consolidation-moodys-637559.html Wed, 10 Sep 2025 10:52:00 +0530 https://dailyworld.in/business/odisha-unveils-draft-ev-policy-2025-to-boost-green-mobility-637561.html Bhubaneswar Sep 10 The Odisha government has released the draft Electric Vehicle EV Policy 2025 setting an ambitious roadmap to accelerate green mobility and make the state a national leader in sustainable transportation The draft policy aims to achieve 50 per cent electric vehicle adoption in new registrations by 2030 expanding incentives across all vehicle categories ranging from twowheelers and cars to buses trucks and construction equipmentThe state government has included several significant promotional measures in the new policy as the state fell short of its earlier target under the 2021 EV Policy which aimed for 20 per cent adoption by August 2025 but recorded only 9 per cent penetration The state government has expanded the incentives provided on the purchase of electric two three and fourwheelers buses trucks and retrofitted vehicles The subsidies have been linked to performance and efficiencyAs per the new draft EV policy all the fuel pumps on the National Highways and State Highways and the Odisha State Road Transport Corporationowned bus terminals stops across the state shall have at least one fast charging stationThe Odisha government also decided to establish Viability Gap Funding for the installation of fast charging stations across all the highways in the stateThe new EV policy announced capital subsidies for the first 100 public batteryswapping stations in the stateThe state government will also set up at least three Centres of Excellence CoEs focusing on Research and Development in EVs charging infrastructure and hydrogenbased technologies The draft EV policy has provisions for increasing the number of incubation hubs for startups creation of a dedicated Rs 15 crore under the Chief Ministers EV RampD Grant to encourage innovation and commercialisationThe government also proposed to ensure specialised training programmes under SCTEampVT to develop an EVready workforce targeting 500 skilled professionals by 2030As per the draft policy all the vehicles engaged in various government offices shall be replaced with electric vehicles within six months of the policy notification The government will also ensure all school buses ambulances and PCR vans get replaced with electric vehicles within 12 months of the policy notificationThe state government has also decided to form a State EV Cell Steering Committee and Task Force for smooth policy implementation and stakeholder coordinationThe draft policy will remain valid until December 31 2030 The government has invited public and stakeholder feedback within 30 days of its publication in the Odisha Gazette With this initiative Odisha seeks to not only transform its transport ecosystem but also contribute significantly to Indias decarbonization goals and the national Net Zero 2070 commitment IANS https://dailyworld.in/business/odisha-unveils-draft-ev-policy-2025-to-boost-green-mobility-637561.html Wed, 10 Sep 2025 11:00:00 +0530 https://dailyworld.in/business/india-us-can-shape-resilient-balanced-and-transformative-partnership-amitabh-kant-637568.html New Delhi Sep 10 India and the US can together shape a resilient balanced and transformative partnership said former G20 Sherpa Amitabh Kant on Wednesday His remarks come as Prime Minister Narendra Modi responded positively to US President Donald Trumps remark on resuming trade negotiations between India and the United StatesThe path forward lies in creating frameworks that are forwardlooking and beneficial to both nations Kant shared in a post on social media platform XIndia and the US can shape a partnership that is resilient balanced and truly transformative he addedTrump in a post on his social media platform Truth Social announced the resumption of discussions aimed at resolving trade barriers between the two nationsReacting to Trumps remarks PM Modi posted on X affirming the strength of the IndiaUS relationship and expressing confidence in the outcome of the ongoing trade dialoguePM Modi emphasised that the discussions will unlock the limitless potential of the IndiaUS partnershipKant stated that PM Modi has worked hard in boosting Indias relationship with the USSince 2014 PM Narendra Modi has personally invested hugely in strengthening the IndiaUS relationship Kant saidWe must build on these efforts anchored in shared values converging interests and a recognition of how much our cooperation can contribute to global stability and growth he addedTrump on Tuesday also described PM Modi as a very good friend and said he looks forward to speaking with him in the upcoming weeksI feel certain that there will be no difficulty in coming to a successful conclusion for both of our great countries he addedThe concerns between the US and India began with Trump escalating tariffs to 50 per cent on Indian goods While the initial duty of 25 per cent came into effect from August 7 the additional levy became effective from August 27Higher tariffs made Indian goods such as shrimps organic chemicals carpets apparel both knitted and woven among others costly in the US market IANS https://dailyworld.in/business/india-us-can-shape-resilient-balanced-and-transformative-partnership-amitabh-kant-637568.html Wed, 10 Sep 2025 11:29:00 +0530 https://dailyworld.in/business/india-installs-38-gw-solar-open-access-capacity-in-jan-june-report-637573.html New Delhi Sep 10 India added 38 gigawatts GW of solar open access capacity in the first half of 2025 and 27 GW in the second quarter alone a new report has said Maharashtra topped solar open access capacity additions in Q2 2025 contributing over 30 per cent of total installations according to a report from MercomThe report indicated that the installations in H1 2024 were skewed towards the upside as open access developers expedited project commissioning before the reimposition of the Approved List of Models and Manufacturers In H1 2025 project execution faced a slight declineInstallations however rebounded in Q2 2025 as developers rushed to commission projects before the ISTS charges waiver deadline in June with many opting for partial commissioning to ensure eligibility for the waiverAs of June 2025 the cumulative solar open access capacity in the country had reached 246 GW Karnataka led in cumulative solar open access installations holding about 24 per cent of the total capacity by the end of Q2 2025 Maharashtra and Tamil Nadu followed with 18 per cent and 12 per cent respectively as of June 2025Solar open access projects in the pipeline under development and preconstruction stage exceeded 31 GW as of June 2025Further in the first half of 2025 India added 28 GW of rooftop solar capacity up 158 per cent from 11 GW in H1 2024 The country added 16 GW of rooftop solar capacity in Q2 2025 a 33 per cent increase from Q1 2025 and a 121 per cent increase from Q2 2024The growth in rooftop solar installations during the first half was driven by the clearance of delayed registrations the commissioning of new systems and enhancements to the PM Surya Ghar portal the report saidIn Q2 2025 rooftop solar additions were led by the residential segment contributing over 74 per cent of the total installations followed by the industrial segment at over 19 per centAs of June 2025 the country had a cumulative installed rooftop capacity of 165 GW with Gujarat Maharashtra Rajasthan Kerala and Uttar Pradesh ranked at the top of the chart IANS https://dailyworld.in/business/india-installs-38-gw-solar-open-access-capacity-in-jan-june-report-637573.html Wed, 10 Sep 2025 11:45:00 +0530 https://dailyworld.in/business/gst-rate-cut-to-spur-credit-growth-of-banks-nbfcs-report-637589.html New Delhi Sep 10 The incremental credit flow of banks is expected to rise to Rs19205 lakh crore in FY2026 from Rs18 lakh crore in FY2025 which represents a yearonyear YoY growth of 104113 per cent for banks in the current financial year compared to 109 per cent in FY2025 according to an ICRA report released on Wednesday The NBFC credit excluding the infrastructurefocussed entities is projected to expand at 1517 per cent in the current fiscal compared to 17 per cent in FY2025 the report statesWhile the pace of incremental bank credit growth in the current year lags at Rs39 lakh crore for the first five months of FY2026 compared to Rs51 lakh crore for the previous year the GST rate cuts aimed at spurring domestic demand would support credit expansion for banks and NBFCs in the near termWith the upcoming CRR cut and GST rationalisation ICRA foresees credit growth at the higher end of its estimated range of 104113 per cent for banks and 1517 per cent for NBFCsFurther the gradual downward repricing of deposit base is likely to improve the competitive positioning of banks visavis debt capital markets for the rest of the yearAdditionally the easing of credit to deposit ratio and abundant liquidity in the banking system shall also be supporting factors for the credit growth the report further statesICRA senior vice president Anil Gupta said Asset quality stress in retail and MSME segments resulted in slower growth for private sector banks as well as NBFCs With improvement in economic activity post GST rate cuts the growth appetite shall improve which will support the credit growthHowever the ICRA report also states that lenders have been facing loan quality risks and are susceptible to the uncertainties emerging from the evolving geopolitical conditionsLoans to MSMEs and unsecured personal loans accounted for 17 per cent of the overall nonfood credit of Rs184 lakh crore for banks as of July 2025Loans to small businesses and unsecured personal and consumption loans stand at approximately 34 per cent of the total NBFC credit of Rs35 lakh crore as of March 2025While the evolving macroeconomic trends are not expected to have a direct firstorder impact on the lenders their target borrower segments would be impacted by the overall demand weakness or income shocks emerging from these developments for eg transport operators linked to an apparel sector which is export dependent would be faced with lower capacity utilisationSimilarly employees of these units would have liquidity issues to service their existing debt microfinance personal loans home loans because of the income shock the report further statedWhile these headwinds remain the soothing impact of the reducing cost of funds will support their margins and overall earnings for the lendersICRA maintains a stable outlook for banks and nonbanks except microfinance where the outlook is negative in general on account of the above factors and their current capital buffers which are adequate to absorb any unforeseen losses the report added IANS https://dailyworld.in/business/gst-rate-cut-to-spur-credit-growth-of-banks-nbfcs-report-637589.html Wed, 10 Sep 2025 13:10:00 +0530 https://dailyworld.in/business/82-pc-indians-opted-for-e-visa-in-2025-report-637599.html New Delhi Sep 10 Electronic visa evisas accounted for 82 per cent of all visa applications in India in 2025 up from 79 per cent in 2024 according to a report on Wednesday The report by Atlys a visa processing platform showcased the expanding list of countries offering Indians simplified digital entry options with detailed stay durations and validity termsThe UAE Vietnam Indonesia Hong Kong and Egypt emerged as the leading eVisa destinations for Indians this yearThe adoption of evisas has accelerated over the past decade as countries recognise the need to simplify entry and boost tourism flows from IndiaThis shift highlights how governments are aligning with traveller expectations for convenience while unlocking new opportunities for crossborder leisure travel the report saidIndian travellers increasingly value speed and certainty and eVisas deliver both The ability to apply online and receive approvals quickly has made lastminute and shorthaul trips far more feasible said Mohak Nahta Founder and CEO of AtlysCountries that have adopted digital visa systems are already seeing the benefits in terms of higher visitor numbers from India he addedThe findings also revealed that in 2025 more than 50 countries spanning Asia Africa Europe Oceania and Latin America now provide eVisas or electronic travel authorisations eTAs to Indian passport holdersSri Lanka witnessed the most significant surge in demand with applications growing nearly 7x in 2025 from 2024 while Georgia recorded a 26x increase reflecting how travellers are expanding beyond traditional hubs and embracing newer digital corridorsFor evisas Asian destinations lead the charge with Sri Lanka Vietnam Japan South Korea Singapore and Indonesia offering stay durations from 14 to 90 daysVietnam permits 30day stays through evisas valid for 90 days Africa has dramatically expanded digital access Egypt Kenya Tanzania Uganda and Morocco now enable stays between 30 and 90 daysEuropean nations including Albania Moldova and Russia have embraced online applications for Indian travellersMeanwhile Caribbean and Latin American countries such as Cuba Suriname Colombia and the Bahamas have implemented comprehensive digital entry systems Australia and New Zealand continue enhancing Oceania access through streamlined eVisas and eTAs IANS https://dailyworld.in/business/82-pc-indians-opted-for-e-visa-in-2025-report-637599.html Wed, 10 Sep 2025 13:46:00 +0530 https://dailyworld.in/business/india-deserves-higher-ratings-bbb-ratings-acknowledge-only-macroeconomic-strength-report-637609.html New Delhi Sep 10 Indias recent rating upgrade to BBB by SampP acknowledges its macroeconomic strength but the rating still falls short of capturing the countrys true credit profile a report said on Wednesday As compared to BBB and even Arated peers Indias growth trajectory fiscal consolidation external resilience banking stability and institutional credibility present a much stronger macro profile MP Financial Advisory Services said in its reportAccording to the findings these pillars suggest that Indias creditworthiness is already more consistent with strongerrated sovereigns raising the debate on whether the current BBB level reflects the countrys true credit standingWhen assessed across growth debt sustainability external resilience banking stability and institutional credibility Indias fundamentals not only compare favourably but in several respects outperform higherrated economies said Mahendra Patil Founder and Managing Partner MP Financial Advisory Services LLPThe current BBB rating therefore materially understates Indias true credit strength which already aligns more closely with higherrated peers across multiple dimensions he addedOver the past decade India has consistently delivered 67 per cent real GDP growth a level unmatched by most BBBrated and even several Arated peers whose longrun average growth typically falls between 23 per centThe nations economic resilience has been tested through multiple global shocks the 2008 Global Financial Crisis the 2013 taper tantrum the COVID19 pandemic and repeated commodity price surges during which advanced peers often slipped into stagnation while India maintained positive momentumIndias debttoGDP ratio at 8182 per cent is elevated but stable with the IMF projecting a gradual decline to 78 per cent by FY2029This compares favourably with many higherrated sovereigns Italy 135 per cent France 110 per cent Belgium 104 per cent and Japan 235 per cent Even Germany 63 per cent and Canada 69 per cent though lower on headline debt face much weaker growth trajectories making their debt ratios more persistentThe report noted that Indias nominal GDP growth of 1011 per cent significantly outpaces its effective interest cost of 67 per cent creating a favourable growthinterest rate differentialThis positive gap enables India to gradually grow out of debt as robust growth drives down debt ratios over time In contrast advanced economies such as Italy France and Japan face the opposite challenge with sluggish growth according to the reportIndia is increasingly channelling fiscal resources into capital expenditure The capex has risen from 12 per cent of the Union budget in FY2019 to 23 per cent in FY2025 the report said IANS https://dailyworld.in/business/india-deserves-higher-ratings-bbb-ratings-acknowledge-only-macroeconomic-strength-report-637609.html Wed, 10 Sep 2025 14:26:00 +0530 https://dailyworld.in/business/chinas-youth-under-stress-as-unemployment-soars-to-11-month-high-637610.html New Delhi Sep 10 With youth unemployment surging to an 11month high in China several stressed jobless youth in the country leave home every day and pretend to work while sitting in libraries and cafes while their families think they are doing regular jobs according to a media report Some of the jobless graduates even rent desks in mock offices so that they can spend time while searching for jobs without feeling lonely as others are also seated in the shared space while being engaged in the same task according to a report in Channel NewsAsia CANThe report is based on extensive interviews with jobless graduates and other youngsters in Chinas Shanghai and Hangzhou citiesThese spaces with computers desks meeting rooms and internet access are springing up in major Chinese cities like Shanghai Shenzhen and ChengduThe report cited one young jobseeker as saying pretending to work gives her a sense of routine and privacy from family as she continues her job searchOthers said that keeping their families in the dark about their jobless status helped to reduce tension for near and dear ones as otherwise they would also be very worried In the meantime the unemployed youth are desperately searching for jobs as they live on past savingsHowever finding jobs is not easy as one youth told CAN that she had made around 1000 applications and got interview calls only for four offers which too did not land her any jobChinas youth unemployment rate rose to its highest level in 11 months in July The urban jobless rate for the 1624 age group excluding students rose to 178 per cent as a record number of graduates entered the job marketMuch like the idiom of lying flat the act of pretending to work carries a tone of selfmockery and playful resignation said Zhan Yang an associate professor of cultural anthropology at Hong Kong Polytechnic University PolyUThe report also quotes an associate professor of culture and anthropology at Hong Kong Polytechnic University as saying It is especially tough in China where ones selfworth remains deeply entangled with a culture that values work and productivity Pretending to work is a way for youth to maintain routines identities and social belonging in the absence of meaningful labour IANS https://dailyworld.in/business/chinas-youth-under-stress-as-unemployment-soars-to-11-month-high-637610.html Wed, 10 Sep 2025 14:26:00 +0530 https://dailyworld.in/business/indias-resilience-stands-out-as-tariffs-impact-global-trade-report-637614.html New Delhi Sep 10 Indias economy shows resilience despite global trade and fiscal uncertainty supported by robust domestic consumption and government spending a report said on Wednesday A report from SBI Capital Market indicated that the Indian markets remained resilient though the aggressive tariff regime of the United States has become a significant issue globallyIndia remained surprisingly insulated in Q1 clocking an abovepar GDP growth There is recognition that amidst global headwinds from high tariffs imposed on India a domestic consumption stimulus is in order The GST reform is a welcome step in this regard the report saidA US appeals court ruling had deemed the tariffs unconstitutional escalating the issue to the Supreme Court Until clarity emerges tradepolicy volatility remains elevated with key pressure points in autos electronics and textiles the report addedIndian exporters encounter reciprocal tariffs reaching as high as 50 per cent which includes a 25 per cent tariff linked to Russian crude purchases increasing cost pressures The report indicated that uncertainty is impacting trade flows and marginsDespite a weaker US dollar the Indian rupee hit a record low down about 5 per cent yearonyear with the Reserve Bank of India RBI limiting intervention and unwinding forward positions to preserve reserves while letting depreciation aid exports the report saidCapital flows remain muted while the current account remains manageable despite weaker merchandise exports from tariff pressures 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 consumption the research wing saidSBI Capital Markets said fiscal stress in the US and the UK is adding complexity to global trade tensions with rising debt burdens pushing bond yield curves steeperAt the same time weaker job data in the US has lifted the probability of a rate cut in the September policy review In India the curve remains steep as elevated state government borrowing continues to weigh on the long end the research wing noted IANS https://dailyworld.in/business/indias-resilience-stands-out-as-tariffs-impact-global-trade-report-637614.html Wed, 10 Sep 2025 14:28:00 +0530 https://dailyworld.in/business/apples-manufacturing-push-in-india-to-curb-tax-leakage-create-jobs-report-637619.html New Delhi Sep 10 US tech giant Apples decision to manufacture its entire iPhone 17 range in India will enhance supply chain efficiency reduce tax leakage and make a stronger case for India as a premium device manufacturing hub experts said on Wednesday The Make in India initiative bolstered by Apples expanded footprint is expected to generate substantial employment boost exports and enhance Indias credibility as a hightech manufacturing powerhouse according to Grant Thornton BharatBy shifting production to Tamil Nadu and Karnataka through partners Foxconn and Tata Electronics Apple avoids the 20 per cent Basic Customs Duty otherwise levied on imported fully assembled devicesLocal assembly also insulates the company from potential tariff escalations in the US said Krishan Arora Partner Tax Planning amp Optimisation Grant Thornton BharatAfter the US imposed higher tariffs on India some of the countrys exports now face duties as high as 50 per cent though smartphones remain exempt for nowThe move by Apple also unlocked further gains under Indias Production Linked Incentive PLI scheme which offers 46 per cent cash incentives on incremental phone sales manufactured in India over five years Arora said adding that the companys decision may not immediately lower prices for consumers in IndiaThis has helped Apples contract manufacturers surpass 10 billion in iPhone exports in FY 202425 with exports surging 53 per cent yearonyear in H1 2025 to reach 239 million units he addedIn the first half of 2025 as much as 78 per cent of iPhones assembled in India were shipped to the US up from 53 per cent a year earlierThe Tamil Nadu government has extended capital subsidies fasttracked environmental clearances and dedicated electronics parks while Karnataka has offered land at concessional rates power tariff rebates and skill development grants IANS https://dailyworld.in/business/apples-manufacturing-push-in-india-to-curb-tax-leakage-create-jobs-report-637619.html Wed, 10 Sep 2025 14:48:00 +0530 https://dailyworld.in/business/novo-nordisk-to-layoff-11-pc-of-global-workforce-save-13-billion-by-2026-end-637622.html New Delhi Sep 10 In a major restructuring drive Danish drug major Novo Nordisk on Wednesday announced plans to slash 9000 jobs or 11 per cent of its global workforce and save 13 billion by the end of 2026 The company in a statement said that with the restructuring it expects to simplify improve decisionmaking speed and reallocate resources toward growth opportunities in diabetes and obesityBattling rising pressure from US rival Eli Lilly the maker of blockbuster weightloss drug Wegovy announced its third cut of the year to its profit forecastThe companys Wegovy and its diabetes treatment Ozempic are reportedly losing market share and slow sales growth especially in the US marketOur markets are evolving particularly in obesity as it has become more competitive and consumer driven Our company must evolve as well CEO Mike Doustdar who only took the helm last month said in the statementThis means instilling an increased performancebased culture deploying our resources ever more effectively and prioritising investment where it will have the most impact behind our leading therapy areas he addedNovo which currently has a global workforce of 78400 said about 5000 of the job cuts will be in its native Denmark The move comes after it implemented a global hiring freeze last month for job roles not critical to its businessThese changes are intended to enable us to do two things simultaneously realign resources toward highimpact RampD and commercial initiatives while creating a more agile organisation that can respond faster to the evolving needs of millions of patients with chronic diseases Doustdar said in a post on professional networking site LinkedInOur goal remains unchanged as we work to deepen our leadership in diabetes and obesity broaden patient access worldwide and continue our mission to defeat serious chronic diseasesSometimes the hardest decisions are the right ones for the future were building Im confident that this is the right thing to do for the longterm success of Novo Nordisk the CEO said IANS https://dailyworld.in/business/novo-nordisk-to-layoff-11-pc-of-global-workforce-save-13-billion-by-2026-end-637622.html Wed, 10 Sep 2025 15:09:00 +0530 https://dailyworld.in/business/mumbai-redevelopment-project-to-unlock-over-44-000-new-homes-report-637630.html New Delhi Sep 10 The current redevelopment projects in the Municipal Corporation of Greater Mumbai MCGM region would add a total of 44277 new homes at a value of Rs 1305 billion by 2030 a report said on Wednesday These society redevelopment projects would not only unlock the residential market potential of the city but would also alter the skyline of Mumbai Knight Frank India said in a reportAccording to the report a total of 910 housing societies have signed development agreements DA since 2020 unlocking nearly 3268 acres 132 million square meters of potential land area based on FSI utilisation norms and average unit sizes across the regionsThe report noted that an estimated 160000 societies were over the age of 30 and eligible for redevelopmentThe Western Suburbs which include highdensity population locations of Bandra to Borivali can expect to see the addition of the 32354 new homes forming 73 per cent of the total addition to stock from society redevelopment while South Mumbai would add 416 new housing units the report highlightedOver the next five years the state government is anticipated to make an estimated Rs 6500 crore from the free sales of the society redevelopmentIn addition an estimated Rs 6525 crore in goods and services tax GST will be generated during the same time period by the free salesSociety redevelopment in Mumbai is both inevitable and essential given the citys limited avenues of greenfield growth and the constant rise in demand Redevelopment has significantly reshaped the dynamics of several micromarkets and remains a critical driver of Mumbais urban renewal Knight Frank India Chairman amp Managing Director Shishir Baijal saidThe free sale component from society redevelopment is expected to generate approximately Rs 7830 crore in stamp duty and another Rs 6525 crore as GST However the segment today appears overheated and is fast reaching a point of inflexion he addedThe report also underlined the dominance of the suburban marketBetween 2020 and H1 2025 the Western Suburbs alone accounted for 633 out of 910 society deals recording 70 per cent of all agreements signed since 2020 Central Suburbs add another 234 societies pushing the suburban contribution to almost 96 per cent Borivali Andheri and Bandra micromarkets emerge as the top three redevelopment hotspots together contributing over 139 acres of activity the report said IANS https://dailyworld.in/business/mumbai-redevelopment-project-to-unlock-over-44-000-new-homes-report-637630.html Wed, 10 Sep 2025 15:32:00 +0530 https://dailyworld.in/business/india-turns-focus-to-mega-infrastructure-push-after-gst-overhaul-637634.html New Delhi Sep 10 India is shifting its policy focus to fasttracking approvals for largescale infrastructure projects under the Viksit Bharat 2047 plan after pushing the Goods and Services Tax GST reforms The government has asked ministries to fasttrack approvals for projects of national importance prioritising projects that touch multiple states or transform entire sectors according to government officialsFurther the road transport ministry has set a target of 50000 kms of accesscontrolled highways to be built over the next 10 to 12 years at an estimated cost of Rs 20 lakh crore reports saidThe Union Budget for FY26 earmarked Rs 1121 lakh crore for infrastructure spending but officials said the publicprivate partnerships PPP will be aggressively promoted in projects with strong return potential to ease pressure on state financesBundling of projects is being done to move them quickly for approvals PPP will be the key to financing highreturn ventures as per the officialsThe goal is to sustain Indias 78 per cent GDP growth in Q1 FY26 amid global tariff pressures and geopolitical risksThe World Bank has highlighted that India should raise its real investment rate from 335 per cent of GDP to 40 per cent by 2035 to sustain longterm growthIndias rising infrastructure needs underpin the nations urbanisation climate commitments and economic growth aspirationsCapital expenditure shot up to a robust Rs 275 lakh crore during the AprilJune period amounting to 245 per cent of the fullyear target reflecting the governments investments in bigticket infrastructure projects to push growth and create more jobsMeanwhile on the back of the robust performance in Q2 2025 78 per cent growth global rating agency Fitch has revised up its forecast for the fiscal year ending March 2026 FY26 to 69 per cent in its latest outlook from 65 per cent in the June report IANS https://dailyworld.in/business/india-turns-focus-to-mega-infrastructure-push-after-gst-overhaul-637634.html Wed, 10 Sep 2025 15:55:00 +0530 https://dailyworld.in/business/air-india-cancels-flights-to-and-from-kathmandu-amid-unrest-637639.html New Delhi Sep 10 Air India has announced that its flights to and from Kathmandu on Wednesday have been cancelled as the airport continues to remain closed amid the unrest in the country We are closely monitoring the situation and will share further updates At Air India the safety of our passengers and crew remains top priority the airline spokesperson saidAir India and lowcost carrier IndiGo on Tuesday cancelled their flights between Delhi and Kathmandu as the neighbouring country plunged deeper into chaos after pressure from GenZ protests escalated following the killing of 19 people including schoolchildren in police firing while 200 others were injuredAir India on Tuesday said in a statement that in view of the current situation prevailing in Kathmandu flights AI22312232 AI22192220 AI217218 and AI211212 operating on the DelhiKathmanduDelhi route have been cancelled todayWe are closely monitoring the situation and will share further updates At Air India the safety of our passengers and crew remains top priority said an Air India spokespersonIndiGo said that in view of the prevailing situation in Kathmandu the airport has been closed for operationsConsequently all flights to and from Kathmandu stand suspended as of now If your travel is impacted you may conveniently opt for an alternate flight or claim a refund by visiting our website said the lowcost airline in a statement posted on XWe are closely monitoring the developments and coordinating with local authorities to resume operations at the earliest Customers are advised to keep checking our official channels for the latest advisories and updates We look forward to the restoration of normal operations and sincerely appreciate your patience and understanding IndiGo addedMeanwhile Nepals Prime Minister KP Sharma Oli resigned from his post and fled the country as protests intensified on the second day following the killing of 19 protestors on MondayEnraged by the killing of so many people during the first day of the protests organised by GenZ demanding accountability for corruption and the social media ban protestors throughout the country started to attack the houses of leaders and government buildingsOn Tuesday the protestors stormed into the parliament building at Baneshwor in Kathmandu and set the building on fire The protestors had made unsuccessful attempts to damage the building even on Monday which led to a strong police response resulting in the death of several peopleThey also entered the Singh Durbar the main administrative centre of the Nepalese government and torched the main gateIndia said it is closely monitoring the evolving situation in the Himalayan country IANS https://dailyworld.in/business/air-india-cancels-flights-to-and-from-kathmandu-amid-unrest-637639.html Wed, 10 Sep 2025 15:57:00 +0530