Business

Action Under Toys Quality Control Order, 2020 New Delhi, February 16: The Central Consumer Protection Authority imposed a penalty of ₹5 lakh on Snapdeal on Monday for facilitating the sale of toys that did not comply with mandatory Bureau of Indian Standards certification requirements.The action was taken for violation of the Toys Quality Control Order, 2020 and prescribed BIS standards, which are mandatory for toys sold in India.According to the Ministry of Consumer Affairs, the regulator issued a final order against Snapdeal, operated by Ace Vector Limited, for engaging in unfair trade practices and misleading advertisements by allowing non-BIS-compliant toys to be sold on its platform.Findings of the Investigation The...

New Delhi, February 16: The High Commissioner of India to Nigeria, Abhishek Singh, has said that the India AI Impact Summit will play a transformative role in reshaping global discussions on artificial intelligence, strengthening bilateral ties with Nigeria, and advancing the interests of Africa and the Global South.According to a report by Nigeria’s NAN news agency, the envoy emphasized that the summit aims to ensure artificial intelligence evolves as a tool for inclusive development rather than becoming a catalyst for widening global inequality.AI for Inclusive Development and Global South Representation Singh noted that the summit would amplify the voices of the Global South in shaping global AI governance frameworks. He...

New Delhi, February 16: Leading startup founders and industry experts on Monday underscored that artificial intelligence is no longer optional for India, but a necessity to expand access, improve efficiency, and strengthen service delivery across sectors. Their remarks came as the five day India AI Impact Summit 2026 commenced in the national capital.Speaking on the sidelines of the summit, Ankit Modi, Founding Member and Chief Product Officer at Qure.ai, said India’s large population creates immense potential for AI driven transformation, especially in healthcare.AI to Bridge Expertise Gaps in India Modi emphasized that limited availability of domain experts makes AI integration critical for scaling services across the country...

New Delhi, February 16: India’s deal activity began 2026 on a cautious note, recording 207 transactions worth $7.2 billion in January, even as private equity continued to show resilience, according to a report by Grant Thornton Bharat.Deal Volumes and Values Moderate Month-on-Month The report described January as a measured start for India’s deal ecosystem, citing the absence of large-ticket mergers and acquisitions. Overall deal volumes declined 11 per cent month-on-month, while deal values saw a sharper 60 per cent correction compared to December.Excluding public market activity, 199 deals were completed, aggregating $5.9 billion. On this basis, volumes fell 8 per cent and values declined 56 per cent sequentially, reflecting a...

Sensex Jumps 650 Points, Nifty Reclaims 25,600 as Banking Stocks Power Late Rally Mumbai, February 16: Indian benchmark indices staged a strong comeback in the late afternoon session on Monday, snapping a two day losing streak as heavy buying in banking stocks lifted overall market sentiment.The benchmark indices recovered sharply from early weakness, with financial counters leading the charge and helping markets close firmly in positive territory.Sensex and Nifty Close Higher The 30 share BSE Sensex surged 650.39 points, or 0.79 per cent, to settle at 83,277.15.The broader Nifty 50 climbed 211.65 points, or 0.83 per cent, to close at 25,682.75.The late session momentum reversed losses seen over the previous two sessions, with...

India Emerges as Key Market for Claude.ai American artificial intelligence firm Anthropic announced on Monday that it has opened a new office in Bengaluru, marking its second location in Asia after Tokyo. The company said the India office will focus on hiring local talent across a broad spectrum of roles as it deepens its footprint in one of its fastest-growing markets.India has emerged as the second-largest market for Claude.ai. According to the company, nearly half of Claude usage in the country involves computer and mathematical tasks, including building applications and shipping production software. The trend highlights strong adoption among developers and technology professionals.Enterprise, Education and Agriculture...

Revenue to Grow at 7% Annually Through 2027 New Delhi, February 16: India’s media and entertainment sector continues to chart a steady expansion path, with revenues projected to grow at around 7 per cent annually until 2027. The total industry size is expected to increase from ₹2,502 billion in 2024 to ₹3,067 billion in 2027, underscoring its position as a durable growth engine within the country’s services economy.The sector currently supports over 10 million livelihoods, both directly and indirectly, while generating annual output of nearly ₹3 lakh crore. This sustained growth reflects not only expanding consumption but also the deepening integration of creativity with technology and global distribution platforms.Creativity...

New Delhi, February 16: The AI Impact Summit 2026 has strengthened India’s position in global conversations on artificial intelligence and technology governance, Aam Aadmi Party MP Raghav Chadha said on Monday.Addressing the summit in the national capital, Chadha said India is increasingly being recognised as a significant voice in shaping how artificial intelligence is governed, developed, and deployed for public good.AI Becomes a Strategic Issue Chadha stressed that artificial intelligence is no longer confined to technological innovation alone."Artificial intelligence is no longer just a technological issue, but a strategic one," he said, underlining its growing influence on national power and global competitiveness.According...

New Delhi, February 16: As Indian equity markets navigate a consolidation phase, PL Wealth, the wealth management arm of PL Capital, has said that medium term risk reward dynamics are gradually improving, creating opportunities for calibrated portfolio allocation.In its latest report, PL Wealth outlined differentiated strategies for aggressive and conservative investors, aligning asset allocation with evolving macro and policy signals.Aggressive Portfolios May Raise Equity Allocation According to the report, investors with a higher risk appetite can consider allocating 60 to 65 percent of their portfolio to equities, reflecting improved medium term visibility.Conservative investors, on the other hand, are advised to maintain a...

Gold and silver prices declined on Monday as the US dollar strengthened following in-line US inflation data and steady economic indicators.MCX Gold and Silver Futures Trade Lower On the Multi Commodity Exchange, MCX gold April futures slipped 0.56 percent to Rs 1,55,023 per 10 grams around 12:30 am intra-day.At the same time, MCX silver March futures fell 1.99 percent to Rs 2,39,501 per kg.The decline in domestic bullion prices mirrored global cues, with strength in the US dollar weighing on sentiment.US Dollar Index Rises on Inflation, Jobs Data The dollar index rose 0.10 percent to 97, tracking the moderation in US Consumer Price Index data for January. The index had earlier found support from strong US jobs data, which...

India’s retail market is on course for a significant transformation, with its size projected to more than double to Rs 210 to 215 trillion by 2035 from approximately Rs 90 to 95 trillion in 2025, according to a joint report released on Monday.The study, unveiled by Boston Consulting Group and Retailers Association of India at the Retail Leadership Summit 2026 in Mumbai, highlights the powerful consumption momentum shaping the sector and underscores the growing role of artificial intelligence in defining the next decade of retail expansion.Strong Consumption Momentum Fuels Retail Growth India continues to rank among the fastest growing major economies globally, with GDP growth of 8 per cent in 2025. The report attributes the retail...

India is hosting what Union Minister Jitin Prasada described as the “Maha Kumbh” of artificial intelligence, as global leaders, startups, innovators, and researchers gather in the national capital for the five day AI Impact Summit.Speaking on Monday, the Minister of State for Electronics and Information Technology said the summit’s outcomes are being closely watched not only in India but across the world, highlighting the scale and significance of the event.Global Convergence at AI Impact Summit According to Prasada, the summit represents a historic moment as the world converges in India to deliberate on the future of artificial intelligence.“The world is converging, and it is truly historic. It is a significant achievement and a...

Arvind Mafatlal Group Flagship Expands Healthcare and Technical Textiles Portfolio New Delhi, February 16: Mafatlal Industries Ltd, the flagship company of the Arvind Mafatlal Group, on Monday announced its entry into the direct to consumer segment with the launch of Mafatlal MedFits, a dedicated digital platform focused on medical apparel.The move marks the company’s expansion into the fast evolving healthcare apparel space through an e commerce model designed to directly serve healthcare professionals across India.Mafatlal MedFits to Offer Comprehensive Range of Medical Wear The newly launched Mafatlal MedFits platform will feature an extensive portfolio of medical apparel, including scrubs, lab coats, under scrubs, medical caps...

IFSCA Calls for Guardrails to Support AI Innovation Within Framework New Delhi, February 16: Regulatory sandboxes are critical to ensuring innovation flourishes without compromising market integrity, a senior official of the International Financial Services Centres Authority said on Monday at the India AI Impact Summit 2026.Speaking during a session at the five day summit in the national capital, IFSCA Chief Technology Officer Joseph Joshy underscored the need for regulators to create structured environments where startups and industry players can test emerging technologies before formal regulations are introduced.“We need to ensure that there are regulatory sandboxes among regulators, so that there are guardrails. Before...

The National Payments Corporation of India on Monday announced the expansion of its ‘UPI One World’ wallet service to international visitors attending the India AI Impact Summit 2026 in New Delhi.The summit, being held from February 16 to 20, is drawing participants from more than 40 countries. With this move, global delegates can now make seamless and secure Unified Payments Interface transactions during their stay in India.Real-Time UPI Payments Without Indian Mobile or Bank Account Under this pilot initiative, foreign travelers can make real-time Person-to-Merchant payments using UPI without requiring an Indian mobile number or a local bank account.The rollout enables international guests to access India’s digital payment...

Bengaluru-based chip design startup C2i Semiconductors has secured $15 million in a Series A funding round led by Peak XV Partners, strengthening its push into next-generation power-management semiconductor solutions for AI data centers and cloud infrastructure.The latest investment takes the company’s total private funding to approximately ₹170 crore, following an earlier $4 million round in 2024 led by Yali Capital.Funding to Boost High-Density Power Delivery Technology The Series A round is expected to accelerate the development of high-density, ultra-reliable system-level power delivery solutions. Alongside the fresh capital, the startup continues to receive support under the government’s Design Linked Incentive Scheme...

Premium Homes Dominate India Housing Market in 2025 India’s residential real estate market continues to demonstrate resilience, supported by a stable macroeconomic environment and recent repo rate cuts, according to the H2 2025 report by Knight Frank India.The data shows a clear structural transformation in housing demand, with premium homes priced at Rs 1 crore and above now accounting for 50 percent of total annual residential sales across the country.In 2025, overall housing sales stood at 3,48,207 units. Within this, sales of homes priced above Rs 1 crore rose 14 percent year on year, reinforcing the growing dominance of the premium segment in India’s property cycle.Affordable Housing Sees Sharp Demand and Supply Contraction...

Policymakers Emphasize Immediate Action on Artificial Intelligence Mumbai, February 16: The India AI Impact Summit 2026 commenced in New Delhi on Monday, drawing senior policymakers and global leaders who called for urgent and coordinated action to harness artificial intelligence for inclusive economic growth.The summit opened with a strong focus on ensuring that AI development delivers broad-based societal and economic benefits.CEA V. Anantha Nageswaran Advocates “Team India” Strategy Chief Economic Advisor V. Anantha Nageswaran cautioned that delaying AI advancement each year narrows India’s economic and technological options.He said India must act decisively to leverage AI for inclusive growth, adding that the country has the...

Mumbai, February 16, 2026 – Kwality Wall’s (India) Limited (BSE: 544622 | NSE: KWIL) has received a public announcement from The Magnum Ice Cream Company HoldCo 1 Netherlands B.V., along with Magnum ICC Finance B.V. and The Magnum Ice Cream Company N.V., regarding a controlling stake acquisition and a subsequent open offer to public shareholders. The acquirer has entered into a share purchase agreement to acquire 145,44,12,858 equity shares, representing 61.90% of the voting share capital, for a total consideration of EUR 278.55 million, equivalent to ₹2,997.84 crore. Following this transaction, a mandatory open offer has been launched to acquire up to 61,08,93,729 equity shares, representing 26.00% of the voting share capital, at a...

Gurugram, February 16, 2026 (IST) – Amber Enterprises India Limited (BSE: 540902 | NSE: AMBER) has announced that its material subsidiary, IL JIN Electronics (India) Private Limited, has executed an amendment to its existing joint venture agreement, resulting in acquisition of control over Stelltek Technologies Private Limited. The amendment agreement was executed on February 15, 2026, between IL JIN, Stelltek Technologies Private Limited, and Nexxbase Marketing Private Limited. Following the amendment, IL JIN has secured the right to nominate and appoint a majority of directors on the board of Stelltek, thereby acquiring management and policy control. Key Transaction HighlightsParticularsBefore AmendmentAfter Amendment...