Business

No Listing Plan for India Business in Deleveraging Roadmap French liquor major Pernod Ricard has ruled out any plans to launch an initial public offering of its India business as part of its deleveraging strategy, even as the company reported a 4 percent rise in net sales in the country.Responding to queries on the possibility of an India listing, Chief Financial Officer Helene de Tissot clarified that the group’s plan to reduce leverage does not assume a public listing in India.She stated that the company aims to bring its Net Debt to EBITDA ratio below 3x by Fiscal Year 2029, but this objective does not include any IPO of the India arm.India Delivers 4 Percent Sales Growth, 8 Percent Excluding Imperial Blue Pernod Ricard posted...

New Breweries, Aluminium Can Plants and Glass Units Planned Across State New Delhi, February 22: The brewing industry is set to invest around Rs 5,500 crore in Uttar Pradesh over the next three years, marking a significant expansion push in the state. The announcement was made by the Brewers' Association of India, which described the move as a major commitment to strengthening the beer manufacturing ecosystem in the region.The industry body stated that the beer sector is making a big bet on Uttar Pradesh, citing the state government’s newly announced excise policy as a key enabler. The policy has been described as progressive and structured with a well-balanced approach aimed at supporting industry growth.Two New Breweries Already...

The recently concluded India AI Impact Summit 2026 has drawn to a close in New Delhi, but the conversations it sparked continue to resonate. According to an official statement, the summit ended not with finality, but with forward momentum, reinforcing the message that the world sees India not merely as a market, but as a strategic partner in shaping the future of artificial intelligence.India AI Impact Expo Spans 70,000 Square Metres Across 10 Arenas During the week-long summit, the India AI Impact Expo unfolded across ten arenas covering more than 70,000 square metres. The exhibition space brought together global delegates, technology leaders, researchers, and students, all moving through expansive halls designed to encourage...

Penicillin G Expansion Gains Momentum in Kakinada SEZ Aurobindo Pharma is stepping up its Penicillin G production, with plans to manufacture more than 10,000 metric tonnes annually over the next 12 months, according to Chief Financial Officer S Subramanian.The Hyderabad-based pharmaceutical major said the expansion of its Penicillin G facility in a Special Economic Zone in Kakinada, Andhra Pradesh, is progressing as planned. The plant is expected to gradually scale up to a production capacity of 15,000 metric tonnes per annum.Subramanian noted that yield levels at the facility remain stable and are consistently improving, positioning the company for stronger profitability over time.Policy Boost to Strengthen Domestic Antibiotic...

Company Targets Rooftop Solar Growth and 1 GWp Renewable Portfolio by 2030 New Delhi, February 22: OMC Power has entered the energy storage segment by deploying repurposed electric vehicle batteries to deliver storage solutions across residential and commercial sectors, marking a new phase in its renewable energy expansion.Rohit Chandra, Co founder and CEO of OMC Power, said the company is introducing one of India’s earliest large scale applications of repurposed EV batteries in collaboration with Honda Motor Co. Ltd.“Repurposing EV batteries is a very new application area in India. We are likely to be the first to do this with Honda Motors Japan,” Chandra said.Second Life for EV Batteries in UPS and Hybrid Solar Installations OMC...

Foreign investors have offloaded nearly ₩9 trillion worth of shares on South Korea’s main bourse so far in 2026, even as the benchmark index climbs to an all-time high.Data released on Sunday by the Korea Exchange showed that overseas investors recorded net sales of ₩9.1 trillion through Friday this year. This compares sharply with net sales of ₩4.6 trillion during the entirety of 2025.Heavy Selling in Samsung Electronics Despite Strong Rally A significant portion of the selling activity was concentrated in chipmaking giant Samsung Electronics Co..Foreign investors net-sold ₩9.5 trillion worth of Samsung shares this year. The move comes despite the company’s stock surging 59 percent in 2026 alone and crossing the ₩190,000 mark for...

Four Officials Suspended as Bank Initiates Criminal and Forensic Action New Delhi, February 22: IDFC First Bank has disclosed a fraud amounting to ₹590 crore at its Chandigarh branch, involving accounts linked to the Haryana government. The bank confirmed on Sunday that four suspected officials have been placed under suspension pending investigation.In a regulatory filing, the bank stated that certain employees at its Chandigarh branch were involved in fraudulent activities concerning ₹590 crore from accounts associated with the Haryana government. The lender said it will pursue strict disciplinary, civil, and criminal action against the employees and any external individuals found responsible, in accordance with applicable law...

New Delhi, February 22 – As foreign institutional investors (FIIs) continue to sell in the domestic markets, domestic institutional investors (DIIs) also continue to provide strong support, driven by robust cues, according to analysts.FIIs recorded net outflows of approximately ₹7,000 crore in the cash market for the week ending February 20, amid volatile trading sessions marked by heavy selling on February 13 (₹7,395 crore outflow).“Despite this, Domestic Institutional Investors (DIIs) provided strong support with net inflows exceeding ₹8,000 crore, highlighted by robust buying on February 13 and 16. Benchmark indices faced pressure, with Nifty closing around 25,454 on February 19 after a 1.41 per cent drop, influenced by global...

New Delhi, February 22 – The tariffs collected by the US administration from various jurisdictions range from $160-175 billion (with Chinese companies likely paying the highest), and the refunds could be "chaotic," but they would also serve as a psychological deterrent in imposing future tariffs, according to a new SBI Research report.US President Donald Trump has now raised global tariffs to 15 percent, invoking Section 122 of the Trade Act of 1974, a move that escalates his trade offensive a day after the US Supreme Court struck down much of his earlier tariffs.According to the report, the court's decision to scrap the tariff structure could create uncertainty going forward, and jurisdictions need to engage in counter-intuitive...

Washington/New Delhi, February 21 US President Donald Trump on Saturday announced a hike in tariffs on all countries to 15 per cent from 10 per cent, which was imposed a day earlier.Following a Supreme Court verdict against his earlier sweeping tariffs, Trump on Friday imposed a 10 per cent tariff on all countries, including India, from February 24 for 150 days.Commenting on the 10 per cent tariff, the Indian government on Saturday said it is studying these and their implications."Based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday, after MANY months of contemplation, by the United States Supreme Court, please let this...

India US Trade Deal Boosts Basmati Rice Exports New Delhi, February 17: A member of the Indian Rice Exporters Federation has secured a commercial agreement to supply 5,000 tonnes of basmati rice to a buyer in the United States, marking a fresh development in India’s agricultural export sector.According to a statement issued by the federation, the agreement comes soon after the finalisation of the India US trade deal. Under the agreement, the United States has agreed to reduce reciprocal tariffs on Indian goods to 18 percent from the existing 25 percent.The federation described the development as significant, highlighting the positive impact of the revised tariff structure on export opportunities.Federation Urges Quality Compliance...

Agreements Inked at India AI Impact Summit in New Delhi The Bihar government has signed Memorandums of Understanding worth Rs 468 crore with leading technology companies and IIT Patna at the India AI Impact Summit 2026 in New Delhi. The agreements span multiple projects, including the establishment of an AI Centre of Excellence and a major research park, marking a significant push toward positioning Bihar as a technology-driven state.According to an official statement, the MoUs were signed with several major technology firms as well as with IIT Patna, strengthening collaboration between industry and academia.Rs 60 Crore Bihar AI Centre of Excellence and Rs 250 Crore Research Park As part of the agreements, the state signed a Rs 60...

NCH Facilitates Timely Relief in 79,521 Consumer Complaints New Delhi, February 17: The government said on Tuesday that the National Consumer Helpline, operating under the Consumer Affairs Ministry, has facilitated refunds amounting to ₹52 crore across 31 sectors by resolving 79,521 consumer grievances until January.According to an official statement, these refunds were secured at the pre-litigation stage, enabling consumers to obtain timely relief without approaching Consumer Commissions. The intervention has helped streamline dispute resolution while reducing the need for prolonged legal processes.Pre-Litigation Resolution Under Consumer Protection Act, 2019 The National Consumer Helpline is the flagship initiative of the Ministry...

AI to Become Foundational Infrastructure Across Eternal’s Commerce Ecosystem New Delhi, February 17: Food delivery and commerce major Eternal on Tuesday announced the expansion of its strategic collaboration with OpenAI to significantly enhance artificial intelligence capabilities across its business verticals, including Zomato, Blinkit, District and Hyperpure.The collaboration also extends to Eternal’s Feeding India initiative and its AI-native venture Nugget, underscoring the company’s push to embed advanced AI tools across consumer platforms, partner ecosystems, and internal systems.Enterprise API Integration to Strengthen AI Deployment As part of the expanded engagement, Eternal will leverage OpenAI’s Enterprise API platform to...

India Positioned as Beacon of Stability in Uncertain Times Mumbai, February 17: Prime Minister Narendra Modi has said that India has evolved into a confident and credible voice of the Global South, actively shaping global conversations and contributing to a more balanced and inclusive world order.In his written address at the Global Economic Cooperation 2026 event, organized by the Future Economic Cooperation Council in partnership with the Ministry of External Affairs and the Government of Maharashtra, the Prime Minister emphasized that as the world searches for steady leadership amid global uncertainty, India stands out as a beacon of hope.The address was read out by BJP leader Vijay Chauthaiwale.Modi stated that India is...

Sovereign AI to Shape Design, Deployment and Governance in India New Delhi, February 17: Sovereignty in artificial intelligence will enable India to control how AI systems are designed, deployed and governed, with a focus on solving critical challenges in healthcare, education, agriculture and financial inclusion. Senior policymakers highlighted this vision at the India AI Impact Summit 2026 on Tuesday.The leaders stressed that sovereign AI will ensure citizens can access essential services in their own languages, strengthening inclusion while improving delivery standards across sectors.Sovereign AI Is Not Isolationist, Says NIC Chief Abhishek Singh, Director General of the National Informatics Centre and Additional Secretary at the...

Khosla Flags Massive AI Disruption at India AI Impact Summit 2026 New Delhi, February 17: Indian-American venture capitalist Vinod Khosla on Tuesday delivered a stark warning about the future of work, stating that by 2050, people may not need jobs as Artificial Intelligence continues its rapid expansion across industries.Speaking at the India AI Impact Summit 2026, Khosla said the transformation of employment structures is not a distant possibility but an unfolding reality. According to him, as early as 2025, it will become evident that traditional job models are undergoing dramatic change.“Artificial intelligence could eliminate large parts of white-collar employment,” Khosla said, underlining the disruptive force of advanced AI...

Mumbai, February 17: Indian stock markets close higher for the second consecutive session on Tuesday, supported by gains in banking, IT, and capital goods stocks, even as global cues remain subdued.Benchmark Indices End in Positive Territory The 30 share BSE Sensex rises 173.81 points, or 0.21 percent, to settle at 83,450.96. During the session, the index moves between an intraday high of 83,598 and a low of 82,987.43.The 50 share NSE Nifty advances 42.65 points, or 0.17 percent, to close at 25,725.40.Market participants maintain a cautious stance amid muted global signals, but selective buying in key sectors helps benchmarks extend Monday’s gains.IT, PSU Banks and Capital Goods Drive Market Momentum Among Sensex constituents...

New Delhi, February 17: India and Ireland are looking to strengthen their digital partnership, with a focus on quantum communications, artificial intelligence, regulatory innovation, and rural broadband expansion, Union Communications Minister Jyotiraditya Scindia said on Tuesday.The discussions took place during a bilateral meeting in the national capital with Irish Minister Jack Chambers, where both sides explored ways to deepen cooperation in telecommunications, digital infrastructure, emerging technologies, and regulatory collaboration.Support for India’s ITU Candidature During the meeting, Scindia expressed optimism about Ireland’s backing for India’s candidature at the International Telecommunication Union. He underlined that...

Conflicting Claims Over Gates’ Attendance at AI Impact Summit in New Delhi New Delhi, February 17: Speculation surrounding the participation of Microsoft co founder Bill Gates at the AI Impact Summit intensified on Tuesday after conflicting statements emerged regarding his attendance at what is being described as the world’s largest AI summit.Earlier in the day, government sources indicated that Gates would not be attending the event. However, the uncertainty deepened when a spokesperson for the Gates Foundation contradicted this claim, stating that he is indeed participating in the summit.Name Removed from Official Website List Gates had originally been listed among prominent speakers on the official website of the AI Impact...