Business

India and the UK are making a genuine effort to operationalise their bilateral free trade agreement by April this year, Commerce Secretary Rajesh Agrawal said on Monday, signalling momentum in one of India’s key trade partnerships.India and the UK signed the Comprehensive Economic and Trade Agreement on July 24, 2025. Under the pact, 99 percent of Indian exports will gain zero duty access to the British market. In return, India will reduce tariffs on select British products, including cars and whisky.The agreement requires approval from the UK Parliament before implementation. In India, such agreements are cleared by the Union Cabinet. Once the British Parliament gives its nod, the pact will be enforced on a mutually agreed date...

An Indian entrepreneur who once lost his entire crop to drought is now investing ₹214 crore in artificial intelligence-enabled hydroponic farming to cultivate high-value spices and medicinal plants in Karnataka.Vivek Raj, Founder and CEO of Mangalore-based Panama Hydro-X, announced the large-scale investment as the company prepares to commercialize its patented AI-driven farming technologies.AI Patents Backed by ₹146 Crore R&D Spend Raj said the company has invested ₹146 crore in research and development over several years, resulting in four patented artificial intelligence technologies. These include:An AI-enabled smart farming monitor A hydroponic saffron disease detection system A Diffused Concurrent Convolutional Neural...

Congress Alleges India US Interim Trade Deal Compromises Farmers, Energy Security and Sovereignty The Indian National Congress on Monday accused Prime Minister Narendra Modi of surrendering to US President Donald Trump by agreeing to the India US interim trade deal. The party claimed the agreement would devastate the livelihoods of millions of farmers and compromise India’s energy security, digital sovereignty and economic self reliance.Congress Terms Deal One Sided and Unequal Addressing a press conference in New Delhi, Congress general secretary Randeep Surjewala said trade agreements should not come at the cost of a country’s sovereignty. He asserted that national and public interests cannot be sacrificed under the guise of a trade...

An Indian entrepreneur who lost his entire crop to drought a decade ago is now investing ₹214 crore in artificial intelligence-enabled hydroponic farming to cultivate high-value spices and medicinal plants in Karnataka.Vivek Raj Develops Patented AI Farming Technologies Vivek Raj, Founder and CEO of Panama Hydro-X, said the company has developed four patented AI technologies after investing ₹146 crore in research and development over several years.Speaking in New Delhi during the AI Impact Summit 2026, Raj said the systems can detect crop diseases before physical symptoms appear and provide optimized artificial lighting to enhance photosynthesis.The company has received patents from the UK, Germany, and Australia. Raj confirmed...

New ‘Factory of the Future’ to Strengthen Advanced Manufacturing Capabilities New Delhi, February 16: SKF India (Industrial) on Monday announced an investment of ₹653 crore to establish a new manufacturing facility in Pune, marking a major expansion of its production footprint in the country.The upcoming plant, which is expected to be operational by 2030, is positioned as a “Factory of the Future” and is aimed at enhancing the company’s advanced manufacturing capabilities in India. The investment underscores SKF India’s long-term focus on digitalization, sustainability, and building resilient supply chains.Long-Term Commitment to India’s Manufacturing GrowthAccording to the company, the new facility reflects its strategic...

Mumbai, February 16: IIFL Finance is preparing to increase the share of External Commercial Borrowings and foreign currency borrowings in its overall liability profile to 20 per cent by FY27, up from the current 13 per cent, according to a senior company official.Managing Director and Founder Nirmal Jain said the company plans to mobilise a substantial amount through these instruments over the next few months as part of its funding strategy. Current External Borrowing Position At present, the company’s standalone total external borrowing stands at Rs 5,937 crore. This includes:Rs 2,257 crore in external loans Rs 3,680 crore in dollar bondsJain noted that External Commercial Borrowings and foreign currency borrowings account for 13...

Formal Credit Flow to MSMEs Remains Key Policy Focus Mumbai, February 16: Reserve Bank of India Governor Sanjay Malhotra on Monday reiterated that improving access to timely and adequate formal credit for micro, small and medium enterprises remains a core policy priority of the central bank.The statement came after the governor held a meeting with select MSMEs and representatives of MSME associations as part of the Reserve Bank’s ongoing engagement with stakeholders.MSMEs’ Contribution to India’s Economic Landscape Highlighted According to an official statement, Malhotra underlined the critical role played by the MSME sector in India’s economic framework. He noted that MSMEs make a significant contribution to the country’s gross...

Joblessness Edges Higher Amid Seasonal Factors in Rural Economy New Delhi, February 16: India’s unemployment rate among persons aged 15 years and above rose marginally to 5 per cent in January 2026, up from 4.8 per cent in December 2025, according to the latest Periodic Labour Force Survey released by the National Statistics Office.The data shows that the increase in unemployment was accompanied by a decline in both the Labour Force Participation Rate and the Worker Population Ratio across rural and urban areas.Rural Factors Drive Rise in Unemployment Rate The National Statistics Office under the Ministry of Statistics and Programme Implementation attributed the rise in the unemployment rate primarily to rural factors. Seasonal...

India’s real estate sector is poised for a sharp expansion over the next five years, with the market projected to grow more than three-fold to Rs 88 lakh crore by 2030, according to a joint report released by KPMG and Naredco.The report, titled The Role of Real Estate in Viksit Bharat@2047, positions the sector as a central pillar in India’s long-term economic transformation.Real Estate Market to Triple by 2030 According to the findings, the Indian real estate market is currently valued at around Rs 26.4 trillion in 2025. It is expected to expand significantly to approximately Rs 88 trillion by 2030, reflecting strong growth momentum across residential, commercial, and infrastructure segments.The report underscores that as India...

A team of Indian officials will travel to the United States next week to finalize the legal framework of the proposed temporary trade agreement between the two countries. Commerce Secretary Rajesh Agrawal said on Monday that the visit is expected to begin on February 23, with both sides working toward signing the pact in March.Legal Drafting Underway for Interim Trade Deal Earlier this month, India and the US issued a joint statement confirming that a framework for the temporary trade agreement had been finalized. The next step involves translating that framework into a legally binding document.“The joint statement lays out the details of the agreement. Now, these details need to be translated into a legal agreement, which will be...

India’s Labour Force Participation Rate Remains Steady in January 2026, Urban Employment Holds Firm India’s labour market displayed broad stability in January 2026, with key indicators such as the Labour Force Participation Rate and Worker Population Ratio showing limited movement, according to data released by the Ministry of Statistics and Programme Implementation on Monday.The latest figures indicate that urban workforce participation across genders remained largely unchanged, while rural areas experienced marginal seasonal pressures linked to winter slowdown and post harvest slack.Overall Labour Force Participation Rate at 55.9% The Labour Force Participation Rate for individuals aged 15 years and above stood at 55.9 percent in...

New Delhi, February 16: Artificial intelligence presents a defining opportunity for India, with experts calling for a decisive shift from being primarily an AI consumer to emerging as a global AI creator.Speaking on the sidelines of the India AI Impact Summit 2026, industry leaders and innovators underscored that building AI solutions with global relevance can strengthen India’s innovation ecosystem while opening up new employment avenues.AI Adoption Opens Door to Job Creation Ankush Sabharwal, Founder and CEO of CoRover AI and BharatGPT AI, said artificial intelligence is rapidly becoming embedded in nearly every new application being developed today.“As AI adoption grows, most people will naturally become AI users. However, for...

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...