Business

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...

New Delhi, February 17: The India Deep Tech Alliance announced a strategic collaboration with the University of Chicago’s Polsky Center for Entrepreneurship and Innovation to launch the India Deep Tech Accelerator, a 10 week program aimed at helping IIT affiliated deep tech startups expand into global markets.The initiative is led by the Polsky Center and developed in partnership with leading IIT innovation ecosystems, including SINE at IIT Bombay, FITT at IIT Delhi, and IIT Madras Research Park. The program is positioned to strengthen India’s deep tech startup ecosystem by creating a structured pathway for international scale and commercialization.10 Week Accelerator to Support Up to 15 Startups The accelerator will run from April...

Ashwini Vaishnaw Outlines India’s Vision for Responsible Artificial Intelligence New Delhi, February 17: India is working to build global consensus on the ethical and responsible use of Artificial Intelligence, Union IT Minister Ashwini Vaishnaw said on Tuesday, underscoring the country’s ambition to ensure AI serves humanity while limiting the risks associated with misuse.Speaking during a briefing on the India AI Impact Summit, the minister said India plans to organize a dedicated summit aimed at bringing together global leaders to align on the proper and ethical deployment of AI technologies.“We will organize a summit where we aim to create consensus among global leaders regarding the proper and ethical use of AI, so that...

New Delhi, February 17: Nearly 16 percent of the world’s artificial intelligence talent originates from India, giving the country a distinct competitive edge in global AI capabilities, according to a white paper unveiled on Tuesday. The report also projects that India will contribute close to 20 percent of incremental global GDP growth over the next 15 years, underscoring its rising influence in the global digital economy.The white paper was launched at the India AI Impact Summit 2026 in the national capital, signaling a strategic shift in how artificial intelligence is positioned within India’s development narrative.From Automation to Institutional Transformation Titled “AI for All: Catalysing Jobs, Growth, and Opportunity,” the...

India Norway Talks Focus on Solar Power, Carbon Capture and Investment Partnerships New Delhi and Oslo, February 17: Finance Minister Nirmala Sitharaman on Tuesday held bilateral talks with Norway’s Finance Minister Jens Stoltenberg in Oslo, exploring deeper cooperation in renewable energy and emerging green sectors.During the meeting, both leaders discussed expanding collaboration in solar power, rare earth processing, and carbon capture and storage. The discussions underscored a shared intent to strengthen partnerships in clean energy technologies and sustainable industrial development.Leveraging Trade and Economic Partnership Agreement for Blue and Green Economy The two sides agreed to work towards leveraging the Trade and...

New Delhi, February 17: AU Small Finance Bank on Tuesday announced the launch of its dedicated gold loan branch network, marking a significant step in its broader nationwide expansion strategy in secured retail lending.The move signals the bank’s intent to deepen its footprint in the gold loan segment through a focused, branch-led model.First Exclusive Gold Loan Branches Open in Gujarat The small finance bank has inaugurated its first two exclusive gold loan servicing branches in Jamnagar and Junagadh in Gujarat. These branches mark the beginning of a phased rollout designed to strengthen the bank’s presence in secured lending markets.The launch sets the foundation for a structured expansion of AU Small Finance Bank’s gold loan...

Rupee Closes Higher at 90.69 Against US Dollar, Gains 5 Paise on Equity Strength and Softer Crude The Indian rupee strengthened on Tuesday, closing 5 paise higher at 90.69 against the US dollar on a provisional basis. The domestic currency drew support from firm equity markets and easing global crude oil prices, although persistent foreign fund outflows and a stronger dollar capped further gains.Rupee Trades in Narrow Band During Session In the interbank foreign exchange market, the rupee opened at 90.72 against the greenback. Throughout the trading session, it moved within a limited range, touching an intraday high of 90.64 and a low of 90.78.The unit ultimately settled at 90.69, improving by 5 paise from Monday’s closing level of...

IT Minister Assures Round the Clock Efforts to Streamline Operations at AI Impact Summit New Delhi, February 17: Following reports of long queues and large crowds on the opening day of the India AI Impact Summit, IT Minister Ashwini Vaishnaw on Tuesday apologized to attendees for the inconvenience and assured swift corrective action.Addressing concerns during a briefing, the Minister acknowledged the operational challenges faced by participants and emphasized that the organizing team is working continuously to improve the experience at what he described as the world’s largest AI Summit.‘War Room’ Activated to Address On Ground Challenges Vaishnaw said that a dedicated “war room” has been set up to monitor and resolve issues in real...

Mumbai, February 17: Indian equity benchmarks ended higher for the second straight session on Tuesday, supported by buying in banking, information technology, and capital goods shares.The 30 share BSE Sensex rose 173.81 points, or 0.21 percent, to close at 83,450.96. During the session, the index touched an intraday high of 83,598 and a low of 82,987.43, reflecting a volatile but upward trending trade.The 50 share NSE Nifty advanced 42.65 points, or 0.17 percent, to settle at 25,725.40.IT, PSU and Infra Stocks Support Market Momentum Among Sensex constituents, gains were led by ITC, Bharat Electronics Ltd, Larsen & Toubro, Infosys, Asian Paints, Titan, Adani Ports, HCL Technologies, Sun Pharmaceuticals, Maruti Suzuki India...

Mumbai, February 17: Indian benchmark equity indices closed higher for the second consecutive session on Tuesday, supported by gains in public sector banks and information technology stocks, even as global cues remained largely muted.The 30 share Sensex ended at 83,450.96, up 173.81 points or 0.21 per cent. The broader Nifty settled at 25,725.40, rising 42.65 points or 0.17 per cent.Nifty Faces Resistance Near 25,800 Mark Market participants noted that the recovery pushed the Nifty above the 25,700 level. However, upward momentum repeatedly encountered resistance in the 25,760 to 25,800 range, resulting in intermittent profit booking.On the downside, dips towards the 25,550 to 25,600 zone attracted consistent buying interest. This...