Business

As India prepares to host the Global AI Impact Summit 2026 in New Delhi, OpenAI CEO Sam Altman has described the country as a potential full stack AI leader, highlighting its rapid adoption of artificial intelligence tools and expanding user base.His remarks come just ahead of the summit, which begins on February 16 at Bharat Mandapam, positioning India at the center of global AI conversations.India Becomes OpenAI’s Second Largest Market Globally Sam Altman, Chief Executive Officer of OpenAI, said India has emerged as the company’s second largest user base worldwide after the United States.According to Altman, India now accounts for 100 million weekly active users of ChatGPT, underlining the scale at which artificial intelligence...

Mumbai, February 15 Foreign portfolio investors have staged a notable comeback in early February, pumping ₹19,675 crore into Indian equity markets during the first fortnight of the month. The renewed buying interest follows three consecutive months of heavy outflows and reflects improving global sentiment.Strong Buying After Three Months of Selling The February inflows mark a sharp reversal from the sustained withdrawals witnessed in recent months. According to depository data, FPIs had pulled out ₹35,962 crore in January, ₹22,611 crore in December, and ₹3,765 crore in November.These persistent outflows had weighed on domestic equity markets and signaled caution among global investors amid heightened volatility.In 2025 so far...

Kolkata, February 15, 2026 – Soma Textiles & Industries Ltd. (NSE: SOMATEX | BSE: 521034) informed that the Hon’ble Supreme Court of India has directed the National Highways Authority of India to deposit 50 percent of an arbitration award amounting to ₹1,197.72 crore, including interest, in a matter involving its promoter and holding company, Roadways Solutions India Infra Limited. The order, dated February 9, 2026, pertains to disputes arising from a Concession Agreement dated June 22, 2021 relating to the Vadodara–Mumbai Expressway Project, Packages VIII and IX. The arbitration award of ₹1,019.02 crore, along with interest aggregating to ₹1,197.72 crore as of February 9, 2026, had earlier been challenged before the Hon’ble Delhi High...

Mumbai, February 15, 2026: International Gemmological Institute (India) Limited (BSE: 544311 | NSE: IGIL) has completed the acquisition of 100 percent shareholding in AGL Holdco Inc through its step-down wholly owned subsidiary, International Gemological Institute Inc, strengthening its global certification footprint. The company informed exchanges that IGI USA has completed the acquisition of AGL Holdco Inc from Christopher P Smith and Helene Smith. The transaction also results in the indirect acquisition of American Gemological Laboratories LLC. The completion follows the earlier board-approved structure involving fund infusion into International Gemmological Institute BV, IGI India’s wholly owned subsidiary, which in turn invested in...

Mumbai, February 15 – The market valuation of Tata Consultancy Services (TCS) fell by ₹90,198.92 crore to ₹9,74,043.43 crore this week, emerging as the biggest laggard among India’s top companies amid a broader bearish trend in equities.The combined market capitalization of six of the top 10 most valued firms declined by more than ₹3 trillion during the week, as stock markets remained under pressure.The BSE benchmark index fell by 953.64 points, or 1.14 percent – reflecting weak investor sentiment.Among the major losers were TCS and Infosys, both of which saw a sharp decline in their valuations.Infosys’ market capitalization dropped by ₹70,780.23 crore to ₹5,55,287.72 crore. The decline in IT stocks weighed heavily on overall...

New Delhi, February 15 – The government stated on Sunday that the overwhelming global participation in the India AI Impact Summit 2026 underscores India's growing role as a hub for responsible artificial intelligence innovation, guided by the vision of People, Planet, and Progress.Ahead of the India AI Impact Summit 2026, which will be held in New Delhi from February 16 to 20, the finalists of three flagship Global Impact Challenges – AI for ALL, AI by HER, and YUVAi – have been announced.These challenges were launched to promote innovative and socially impactful AI solutions aligned with global priorities, the Ministry of Electronics & IT said.Together, the three competitions received more than 4,650 applications from over 60...

New Delhi, February 15 – The Union Budget 2026-27, placing Micro, Small, and Medium Enterprises (MSMEs) at the heart of India's growth strategy, has unveiled a comprehensive plan to help MSMEs scale up, compete globally, and integrate more deeply into domestic and international markets through financial, policy, and professional support, according to an official statement on Sunday.The Union Budget 2026-27 has emphasized the government's commitment to strengthening MSMEs as key drivers of economic growth and employment.Currently, MSMEs account for approximately 35.4% of India's manufacturing output, nearly 48.58% of exports, and 31.1% of the country's GDP.With over 7.47 crore enterprises employing more than 32.82 crore people, the...

Mumbai, February 15 – After a sharp decline in benchmark indices, investors will closely monitor global and domestic cues next week, including the minutes of the US Federal Reserve meeting, signals from the Reserve Bank of India (RBI), trends in the IT sector, prices of bullion, and activity by foreign investors. These factors are likely to determine the direction of the Indian stock market.The Indian stock markets ended sharply lower on Friday, February 13, due to weak global cues and growing concerns about artificial intelligence and its potential impact on the global economy.The BSE benchmark index fell by 1,048 points, or 1.25%, to close at 82,626.76. The broader NSE index also slipped by 336 points, or 1.30%, to settle at...

Washington, Feb 15 – As India prepares to host the AI Impact Summit in New Delhi next week, Bipul Sinha, Chairman and CEO of Rubrik, sees the event as a crucial opportunity to shift the global conversation about artificial intelligence from fear to practical applications that can transform governments, businesses, and daily life.In an exclusive interview, Sinha stated that the timing of the summit is "ideal," arguing that India is now actively exploring artificial intelligence across various sectors, from energy to agent deployment.However, he emphasized that "AI is about solutions, not just the technology itself," because it must be integrated into business processes and operations.Sinha believes that India's focus on...

Washington, February 15 – As India prepares to host the AI Impact Summit next week, Jeff Cotten, President and CEO at PROS, a company providing AI-powered SaaS solutions, said that India must invest more aggressively in infrastructure to compete with rivals, especially China."China has clearly decided to focus on platforms, and they are trying to be the world's platform for AI," Cotten toldCotten said that the key question for India is whether it will "really invest in capital infrastructure along with supplying expertise in engineering capability."He noted that India remains "a massive tech market" and "a major labor supplier to the rest of the world," but suggested that long-term leadership in AI will require more than just...

New Delhi, February 15 – Finance Minister Nirmala Sitharaman met with top leaders and industrialists during her visit to Germany and discussed bilateral trade relations in the context of the EU-India FTA agreement, while also strengthening partnerships in several fields, including manufacturing, technology, and agriculture, the Finance Ministry said on Sunday.FM Sitharaman met with Lars Klingbeil, Vice Chancellor and Federal Minister of Finance, Germany, and discussed the meeting between Prime Minister Narendra Modi and Federal Chancellor Friedrich Merz in India in January this year, which strengthened bilateral relations, particularly in defense, trade, and technology.Merz paid an official visit to India from January 12-13. The...

Seoul, February 15 – Major South Korean brokerage firms achieved record earnings last year due to a strong performance in the local stock market, according to industry data released on Sunday.The combined net profit of the country's 27 securities firms is estimated to be 10.23 trillion won (US$7.03 billion) for 2025, a significant increase from the previous year's 6.97 trillion won, reports Yonhap news agency.Korea Investment & Securities Co. posted the largest net income of 2.01 trillion won last year, up 79% from a year earlier, followed by Mirae Asset Securities Co. with 1.59 trillion won in net profit.Kiwoom Investment & Securities Co. reported a net profit of 1.12 trillion won, while NH Investment & Securities Co. and Samsung...

Seoul, February 15 – South Korea is preparing to form a team of specialists to support a newly established government committee tasked with conducting a preliminary review of potential investment projects in the United States as part of a trade deal between the two countries, trade authorities said on Sunday.The move comes shortly after the Korea-U.S. strategic investment memorandum of understanding (MOU) implementation committee held its inaugural meeting on Friday to explore potential projects, as the National Assembly is also seeking to pass a special bill to support possible investments, according to the authorities, reports Yonhap news agency.Led by Industry Minister Kim Jung-kwan and comprising vice ministerial officials from...

New Delhi, February 15 – M Nagaraju, Secretary, Department of Financial Services (DFS), has emphasized the need to improve the Credit-GDP ratio – making our financial institutions more agile and exploring new ways of financing on a larger scale in line with the goals of Viksit Bharat (Developed India).Speaking at a ‘Chintan Shivir’ (Deep Thinking Session) of the DFS in Coorg, Karnataka, he stated that the ideas generated during the session will pave the way for a shared vision and action plan for the Department and its financial institutions.At the event, experts from public policy, as well as practitioners from various fields of financing, presented their views and ideas.Amitabh Kant, former CEO, NITI Aayog, spoke about the key...

New Delhi, February 14, 2026 – Religare Enterprises Limited (BSE: 532915 | NSE: RELIGARE) has approved a strategic demerger of its financial services undertaking into its wholly owned subsidiary Religare Finvest Limited (RFL), with shareholders set to receive equity shares in the resulting entity on a 1:1 basis. The Board cleared the Scheme of Arrangement at its meeting held on Friday, aiming to segregate the financial services and insurance businesses into two independently listed entities. Financial Services Undertaking: ₹457.29 Crore Turnover, 6.2% of FY25 Revenue The demerged undertaking comprises REL’s financial services business, including:Lending activities Broking activities Investment activities Ancillary and support services...

Pune, February 14 – Shaurya Doval, the founding director of the India Foundation, a think tank based in Delhi, said on Saturday that India has created a strong foundation for a future economy by developing the digital infrastructure needed for long-term growth.Speaking about India's economic journey, Doval said that the country has become future-ready by investing in systems that can support an economy worth $30 to $40 trillion in the coming decades.He explained that digital platforms, governance reforms, and technology-driven systems are laying the groundwork for sustained expansion and global competitiveness."The first thing that has happened is that we have laid the foundation for what I believe will be a future economy. We are...

New Delhi, February 14 – Union Minister for Railways, Information and Broadcasting, and Electronics & Information Technology, Ashwini Vaishnaw, announced on Saturday that Indian Railways has approved two new reforms as part of its plan to implement "52 reforms in 52 weeks" during 2026.He stated that these reforms are not one-time decisions, but an ongoing process aimed at continuously improving the railway system.The Minister said that the visible results of sustained reforms are already apparent, with Indian Railways emerging as the second largest cargo carrier in the world."New-generation trains and modern working practices are being adopted across the network," Vaishnaw mentioned.Explaining the first reform, Vaishnaw said...

Mumbai, February 14, 2026 – Hubtown Limited (BSE: 532799 | NSE: HUBTOWN) on Saturday informed the exchanges that a search and seizure/inspection operation conducted by the Goods and Services Tax Department at its registered office and at its subsidiary has concluded, with the company stating that there is no material impact on its financials or operations.The action covered Hubtown Limited and its subsidiary, Joynest Premises Private Limited. The search commenced on February 9, 2026 and concluded on February 13, 2026.Details of the Inspection As outlined in the company’s communication dated February 14, 2026 , the inspection was conducted by the Assistant Commissioner of State Tax, Investigation-C, Mazgaon, Mumbai.The scope of the...

New Delhi, February 14 – Nvidia Corp confirmed on Saturday that its Chief Executive Officer, Jensen Huang, will not attend the India AI Impact Summit, scheduled to begin next week in the national capital.Huang was originally scheduled to speak to the media on February 17, but his visit has been cancelled due to unforeseen circumstances, the company said."Due to unforeseen circumstances, Jensen Huang is unable to travel to India at this time," it said."NVIDIA remains deeply committed to the AI Impact Summit and to India's rapidly advancing AI ecosystem," the firm stated.Despite this development, the India AI Impact Summit is set to proceed as planned and is expected to remain a major international event."A senior NVIDIA...

New Delhi, February 14 – India’s innovation ecosystem has reached a stage where opportunities are fully democratized and accessible “on a mobile phone,” Union Minister Dr Jitendra Singh said on Saturday, urging young people to move beyond the traditional aspiration of government jobs and embrace entrepreneurship.Addressing the inaugural session of the Research–Industry–Startup–Entrepreneurship (RISE) Conclave 2026 in Chennai, Dr Singh stressed that government employment alone cannot be the only career goal for India’s youth.He called for a decisive shift in mindset towards innovation-led entrepreneurship and job creation, saying that India has transformed from a late entrant into a global innovation hub.The two-day conclave, to be...