Business

US Companies Lead as GCCs Drive 36% of Workspace Demand Across Seven Major Cities Delhi, February 25: Foreign companies, largely headquartered in the United States, have leased 101 million square feet of prime office space across India’s seven major cities over the past five years to establish Global Capability Centres, according to Colliers India.Data from Colliers shows that gross office leasing between 2020 and 2025 stood at 280.2 million square feet across Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai, and Pune. Of this, 101 million square feet was absorbed by foreign firms setting up GCCs, accounting for 36 per cent of the total workspace demand in these key markets.US-based corporations alone leased 71 million...

Smartphones Become India’s Top Export Category as Overseas Shipments Eye $30 Billion in 2025 India Positions Itself as a Global Smartphone Manufacturing Hub New Delhi, February 25: Smartphones have emerged as India’s largest export category, with overseas shipments projected to reach $30 billion in calendar year 2025, Union Electronics and IT Minister Ashwini Vaishnaw said on Wednesday.Sharing the update in a social media post titled “Smartphones: India’s No. 1 export category,” the minister highlighted that exports from January to December 2025 are expected to touch $30 billion, underscoring India’s growing prominence in global electronics manufacturing.“Becoming the world’s smartphone manufacturing hub,” Vaishnaw noted, reflecting...

Vikram Solar, Waaree Energies See Limited Impact from US Countervailing Duties on Indian Solar Imports New Delhi, February 25: Vikram Solar and Waaree Energies have indicated that they do not foresee any significant negative impact from the United States decision to impose preliminary countervailing duties on certain solar products imported from India.The comments come after the US Department of Commerce announced preliminary countervailing duties of 126 per cent on specific solar imports from India.Vikram Solar Cites Diversified Supply Chain Strategy Gyanesh Chaudhary, Chairman and Managing Director of Vikram Solar, said the preliminary anti dumping and countervailing duties apply specifically to cells of Indian origin.He...

Government Mandates E20 Petrol with Minimum 95 RON Across India from April 1, 2026 Ethanol-Blended Petrol to Be Sold Nationwide with Higher Octane Standard New Delhi, February 25: The central government has mandated the sale of petrol blended with up to 20 per cent ethanol, carrying a minimum Research Octane Number of 95, across all states and Union Territories from April 1, 2026.In a notification dated February 17, the oil ministry directed oil marketing companies to supply ethanol-blended motor spirit with ethanol content of up to 20 per cent, in line with Bureau of Indian Standards specifications, and with a minimum RON of 95. The directive applies nationwide, although the government has retained the power to grant exceptions in...

Vikram Solar Targets Higher Market Share as AI and Data Center Demand Boosts Green Energy Push Kolkata-based solar energy major Vikram Solar is positioning itself to capture a larger share of India’s renewable energy market as demand accelerates, driven by the rapid expansion of artificial intelligence and data center infrastructure.Chairman and Managing Director Gyanesh Chaudhary said the company currently commands around 10 to 12 percent of the domestic market and expects this share to rise steadily over the next two financial years.AI and Data Centers Seen as Major Growth Catalyst Chaudhary described AI and data centers as a transformational opportunity for India’s renewable energy sector.“Regarding AI and data centers, it’s a...

Early Recovery Signals Emerge in Indian Markets New Delhi, February 25: Early signs of recovery are beginning to surface in Indian equity markets, with the Nifty projected to reach 27,958 over the next 12 months under a base case scenario, according to a report released on Wednesday by PL Capital.The brokerage outlined a range of outcomes for the benchmark index. In a bullish scenario, a 20x forward earnings multiple implies potential upside toward 30,497. On the other hand, a more conservative bear case places the Nifty target at 26,486.Earnings Growth and Corporate Performance Remain Resilient PL Capital expects earnings per share growth at 3.8 per cent in the near term. However, the medium term earnings trajectory remains robust...

KOSPI Surges Past 6,000 for First Time as Samsung, SK Hynix and Hyundai Motor Lead Seoul Market Rally Seoul shares rallied sharply on Wednesday, with the benchmark index closing above the 6,000 level for the first time, powered by strong gains in technology and automobile stocks. The Korean won also strengthened significantly against the US dollar, while bond yields declined.KOSPI Hits Record High Above 6,000 The Korea Composite Stock Price Index KOSPI jumped 114.22 points, or 1.91 percent, to end at a record 6,083.86. During the session, it touched an intraday high of 6,144.71.The milestone extends the index’s winning streak to five consecutive sessions. In recent weeks, the KOSPI has sustained strong upward momentum, first...

Hindustan Oil Exploration Company Limited has announced a significant leadership transition, with Managing Director Ramasamy Jeevanandam set to step down at the end of March and Baroruchi Mishra appointed as the new Managing Director and Chief Executive Officer.Ramasamy Jeevanandam to Step Down on March 31 In a stock exchange filing on Wednesday, February 25, the company said that Ramasamy Jeevanandam will resign as Managing Director effective at the close of business hours on March 31, 2026.The company cited health issues and other personal reasons for his resignation. It acknowledged his long association with the organisation, highlighting that he served Hindustan Oil Exploration Company for over 11 years. Of this, more than eight...

Chennai, February 19: Artificial Intelligence driven platforms have moved beyond being optional enhancements to becoming core infrastructure for telecom operators, helping them counter complex fraud risks and unlock new digital revenue streams, according to Subex Ltd.The Bengaluru based telecom AI solutions provider said operators globally are shifting away from traditional rule based fraud and assurance systems that depend on manual reviews and static thresholds.Legacy Fraud Systems Struggle With Modern Telecom Complexity According to Subex Ltd, conventional fraud and revenue assurance tools are increasingly unable to cope with the scale and complexity of modern telecom networks. Today’s networks manage massive traffic volumes and...

New Delhi, February 25: With a clear policy roadmap and robust industry participation, India is poised to establish itself as a leading global hub for electric mobility manufacturing and innovation, Union Minister for Heavy Industries and Steel H.D. Kumaraswamy said on Wednesday.Speaking on the sidelines of the third FICCI National Conference on Electric Vehicles, the minister underlined the government’s commitment to accelerating electric vehicle adoption across the country.Electric Mobility Central to Viksit Bharat 2047 Vision Kumaraswamy stated that the government will explore every possible measure to encourage electric mobility adoption.“As we move towards the vision of Viksit Bharat 2047, electric mobility must remain...

Jatinder Mehra, Vice Chairman of Essar Group’s Metals & Mining Division, Passes Away at 86 New Delhi, February 25: Jatinder Mehra, a towering figure in India’s steel and metals industry with a career spanning more than six decades, passed away on February 24 at the age of 86.Mehra was serving as the Vice Chairman of the Metals & Mining Division at Essar Group, where he played a strategic role in steering the conglomerate’s metals and mining operations. Known for his deep technical knowledge and operational leadership, he was instrumental in shaping several large-scale industrial projects.Essar Group Pays Tribute to Industry Veteran In a message shared on X, Essar Group expressed deep sorrow over his demise, describing him as a...

TCS Embraces AI, Encourages Revenue Cannibalization to Drive Innovation: CEO K Krithivasan Mumbai, February 25India’s largest IT services company, Tata Consultancy Services (TCS), has made it clear that it is not intimidated by artificial intelligence. Instead, the company is actively encouraging its employees to deploy AI tools, even if it leads to revenue cannibalization.Speaking at the annual NTLF event in Mumbai, Managing Director and Chief Executive Officer K Krithivasan said TCS is pushing its workforce to leverage AI directly with clients, regardless of short term revenue implications.TCS Not Afraid of AI Impact on Jobs Krithivasan emphasized that the company is not concerned about AI replacing jobs. Rather, TCS is focusing...

Ministry of Power Forwards CAFE-III Proposal to Prime Minister’s Office New Delhi, February 25: The proposal for the next phase of Corporate Average Fuel Efficiency norms, known as CAFE-III, has been sent to the Prime Minister’s Office following consultations with stakeholders, Union Heavy Industries Minister H D Kumaraswamy said on Wednesday.Addressing reporters, Kumaraswamy confirmed that discussions had already taken place between industry stakeholders and the Ministry of Power.“We already had a meeting with stakeholders and the Ministry of Power. According to my information, the Ministry of Power has now, after the meeting with stakeholders, sent the proposal to the PMO,” he said.The development marks a key step in finalising...

Makmor Signs LoI with MD Aircraft GmbH to Acquire 10 MDA1 eViator Electric Regional Aircraft Mumbai, February 25 Makmor, a Bengaluru-headquartered business management consulting firm, announced on Wednesday that it has signed a letter of intent with MD Aircraft GmbH to acquire 10 electric regional passenger aircraft, aiming to tap into the rising demand for regional air travel in India.One of the First Structured Commitments for MDA1 eViator The agreement marks one of the first structured fleet commitments for the nine-seater, all-electric short take-off and landing passenger aircraft, the MDA1 eViator.According to Makmor, the aircraft is designed to operate from shorter regional airstrips while offering significantly lower...

New Delhi, February 25India’s ongoing cricket season is driving a sharp rise in domestic travel, with accommodation demand climbing significantly across match hosting cities, particularly beyond major metropolitan hubs, according to online accommodation platform Airbnb.Ranchi, Thiruvananthapuram Lead Year on Year Search Growth Airbnb said searches by Indian guests for several match hosting cities, including Ahmedabad, Ranchi and Thiruvananthapuram, have risen notably compared to the same period last year.Emerging cricket centres recorded some of the strongest growth. Ranchi witnessed nearly a 120 per cent increase in searches year on year, while Thiruvananthapuram saw growth of over 110 per cent. Jaipur and Lucknow also registered...

India–France Tax Treaty Revised: Dividend Tax Cut for Sanofi, Renault, L'Oreal; Capital Gains Tax Scope Expanded India Updates 30-Year-Old Tax Treaty with France New Delhi, February 25: India and France have revised their three-decade-old tax treaty, introducing significant changes that lower dividend taxes for large French investors while strengthening India’s ability to tax certain cross-border transactions.According to a BBC report, the updated agreement expands India’s rights to tax specific transactions, including capital gains arising from the sale of shares, even in cases where a French entity holds less than 10 percent in an Indian company.Dividend Tax Rates Reworked for French Investors Under the amended protocol, dividend...

Artificial Intelligence has rapidly shifted from being a futuristic concept to an immediate operational priority for Corporate Real Estate teams in India, according to a new report released on Wednesday.Data compiled by JLL shows that 91 percent of companies are currently piloting AI across office and workplace use cases. This marks a sharp rise from less than 5 percent in 2023, reflecting a dramatic acceleration in enterprise-level experimentation and adoption.AI Becomes Core to Cost Reduction and Space Optimization The report highlights that Indian companies are increasingly deploying AI tools to reduce operating costs and enhance space utilization. With hybrid work models reshaping workplace strategies, businesses are focusing on...

Union Minister for Heavy Industries and Steel HD Kumaraswamy on Wednesday said the government’s ₹12.2 lakh crore capital expenditure allocation in the Union Budget 2026 to 27 will significantly accelerate India’s construction equipment industry and position it for global leadership.Addressing the Annual Construction Equipment Finance Conclave in New Delhi, the minister underlined that sustained public investment and a resilient financing framework are central to India’s infrastructure and manufacturing expansion.₹12.2 Lakh Crore Capex Signals Multi-Year Infrastructure Push Kumaraswamy described the ₹12.2 lakh crore public capital expenditure as a historic and structural commitment that spans highways, railways, logistics corridors...

High Speed Rail and Freight Corridors Set to Drive ₹2 Lakh Crore Financing Opportunity State owned Indian Railway Finance Corporation Ltd is positioning itself at the center of a major railway expansion cycle following the Union Budget announcements. The proposed seven high speed rail corridors and a new dedicated freight corridor are expected to unlock significant funding requirements over the next five years.Manoj Kumar Dubey, Chairman and Managing Director of Indian Railway Finance Corporation Ltd, said the company expects to play a key role in financing what he described as more than $20 billion in investments during this period.According to Dubey, IRFC is already working on funding solutions that include external commercial...

Minister Calls Episode Shocking and Against Established Norms Union Communications Minister Jyotiraditya Scindia on Wednesday termed the reported lavish arrangements made for a Bharat Sanchar Nigam Limited director as improper and a clear violation of established rules and traditions. He described the episode as unacceptable and confirmed that a show cause notice has been issued.The controversy surfaced after details emerged regarding elaborate preparations made for BSNL Director Vivek Bansal during his proposed visit to Prayagraj in Uttar Pradesh.Responding to media queries, Scindia stated that he had made his position clear. He said the reported conduct was in breach of norms and traditions and was shocking. He added that a show...