Business

New Delhi, February 15 – Union Minister Dr Jitendra Singh has emphasized the crucial role of startups in driving innovation and strengthening India’s research-industry ecosystem, according to an announcement made on Sunday.At the Research-Industry-Startup-Entrepreneurship (RISE) Conclave at the Chennai Trade Centre, the minister also inaugurated the ‘Startup Expo’ and interacted with participating entrepreneurs.The ‘Startup Expo’ featured over 100 startups associated with technologies developed by CSIR laboratories, including CSIR-CLRI, CSIR-CECRI, and CSIR-SERC.The Expo showcased cutting-edge innovations in advanced materials, electrochemical technologies, infrastructure systems, sustainable manufacturing, and deep-tech...

Steel Cutting Ceremony Marks Start of Coastal Research Vessel Project Garden Reach Shipbuilders and Engineers Ltd has commenced construction of two Coastal Research Vessels for the Geological Survey of India, marking a significant addition to India’s offshore research capabilities.The ceremonial steel cutting, which formally signals the start of shipbuilding, was held in the presence of GSI Director General Asit Saha along with senior officials from GRSE and representatives of the Indian Armed Forces.Vessel Specifications and Research Capabilities Each Coastal Research Vessel will measure 64 metres in length and 13 metres in width. The ships are designed to support a wide range of offshore scientific activities.The vessels will be...

GPT 4o Removed From ChatGPT App, Developers Face API Cutoff New Delhi, February 15: OpenAI, led by Sam Altman, has removed access to the GPT 4o model from its ChatGPT application, triggering disappointment among users worldwide. The move has drawn particularly strong reactions from users in China, where many describe the chatbot as more than just a productivity tool.According to reports, GPT 4o was officially retired for app users on February 13. Developers using the model through API access are also set to lose access on the coming Monday. The decision follows an earlier attempt in August 2025 to phase out GPT 4o, which at the time led to immediate backlash from users.Users Describe GPT 4o as “Affectionate” and “Understanding” In...

Gujarat Names Uday Kotak as Chairman of GIFT City The Gujarat government has appointed Uday Kotak as the Chairman of Gujarat International Finance Tec-City Company Ltd., widely known as GIFT City, according to reports.Kotak will replace Dr. Hasmukh Adhia, who had been serving as the non-executive chairman since June 19, 2023.Leadership Transition at India’s Financial Hub Uday Kotak is the founder and former Managing Director and Chief Executive Officer of Kotak Mahindra Bank. He established the institution in 1985 as a small bill-discounting firm. Over time, it evolved into the first non-banking financial company in India to convert into a bank in 2003. He currently serves as a non-executive director at the bank.His appointment...

National Cremation Rate Hits Record High in 2024 Seoul, February 15: South Korea’s cremation rate continues its steady upward climb, intensifying concerns over potential shortages of cremation facilities, particularly in densely populated cities such as Seoul and Busan.Fresh data released on Sunday showed that the national cremation rate reached 94 percent in 2024, up from 92.9 percent in 2023. The figures were compiled by the Bank of Korea and the Ministry of Health and Welfare.The rise reflects a long-term structural shift in funeral practices across the country. The cremation rate stood at 33.5 percent in 2000, climbed to 67.5 percent by 2010, and further advanced to 89.9 percent in 2020 before reaching its current peak.Supply...

Regulator Seeks Public Comments on New Framework for Exchange Traded Funds The Securities and Exchange Board of India has proposed a revised mechanism to regulate price movements in exchange traded funds as it seeks to rein in volatility in the ETF market. In a consultation paper issued on Friday, February 13, 2026, SEBI said it will examine the base price and price band framework applicable to ETFs and has invited public comments on the proposal.The move could significantly alter trading dynamics in the ETF segment, particularly in commodities-linked funds such as gold and silver ETFs.Existing Price Band Mechanism At present, individual scrip-wise price bands of up to 20 percent on either side are applicable to all securities in...

Bharuch, February 15, 2026 (IST) – Gujarat Narmada Valley Fertilizers & Chemicals Limited (BSE: 500670 | NSE: GNFC) on Saturday informed stock exchanges that a sudden leakage of chlorine gas occurred at its TDI-I Plant in Bharuch on the night of February 14, 2026. The incident triggered an automatic shutdown of the plant’s safety systems, with operations fully restored within hours. According to the company’s communication dated February 15, 2026 , the leakage occurred at approximately 21:17 hours and was contained entirely within the plant premises. Incident Timeline and Immediate Response GNFC stated that the chlorine gas leakage led to an automatic shutdown as per the in-built safety mechanism at the facility. The company clarified...

Bengaluru, February 15, 2026 (Sunday) – Centum Electronics Limited (NSE: CENTUM | BSE: 517544) has announced a decisive global portfolio realignment, discontinuing its Canada operations and initiating restructuring actions for its French subsidiaries, as part of a broader strategy to sharpen focus on high-growth, high-reliability electronics segments. The company said these actions are aimed at arresting losses, enhancing capital efficiency, and redeploying resources toward its core Electronics System Design and Manufacturing (ESDM) operations across aerospace, defence, industrial and medical sectors. Exit from Canada Operations Centum has discontinued operations of its Canada-based subsidiaries:Centum E&S (Centum Equipment’s ET...

New Delhi, February 15 – Union Minister of State Dr. Jitendra Singh praised the consortium-driven innovation model pioneered by the IIT Madras Research Park on Sunday, stating that it has enabled the immediate and appropriate commercialization of technology and is now being adopted by several other academic institutions and universities across the country.The Minister, who holds independent charge of the Science and Technology and Earth Sciences ministries and also serves in the Prime Minister’s Office, made the remarks during his visit to the Immersive Technology and Entrepreneurship Labs (ITEL) Foundation and other advanced research facilities at the Indian Institute of Technology Madras.“This model is now being keenly picked up...

New Delhi, February 15: India is set to mark a major milestone in artificial intelligence with the launch of PARAM-2, a 17 billion parameter multilingual AI model, at the upcoming India AI Impact Summit 2026. The model has been developed under the BharatGen programme and reflects India’s push to build sovereign foundational AI systems tailored to its linguistic and governance landscape.PARAM-2: India’s Sovereign Multilingual AI Model PARAM-2 has been designed to support all 22 Scheduled Indian languages, making it one of the most comprehensive multilingual AI systems developed in the country. Trained on India focused datasets curated under Bharat Data Sagar, the model is built to address governance, cultural, and administrative...

Record-Breaking Capacity Addition India has achieved a significant milestone in its power sector, exceeding 50 GW in power generation capacity addition from all energy sources during the April-January period of the current fiscal year. An official statement confirmed this achievement, highlighting it as the highest-ever capacity addition in a single year.FY25-26 Performance During the financial year 2025–26 (up to January 31), a record 52,537 MW of generation capacity was added from all sources. This surpasses the previous record of 34,054 MW achieved during 2024–25.Renewable Energy Dominance A substantial portion of the added capacity comes from renewable energy sources, with 39,657 MW added. This includes 34,955 MW of solar power...

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...