Business

New Delhi, April 7 Indian airlines have cancelled over 10,000 flights since the onset of the West Asia conflict, as escalating tensions and airspace restrictions disrupted international operations, a senior government official said.The widespread closure of key transit corridors forced airlines to suspend or reroute services, particularly on long-haul routes to Europe and North America."On average, Indian airlines used to fly about 300 to 350 flights daily to the Middle East (both ways put together). Today that number has come down to 80-90. That takes the total (flights cancelled by Indian carriers) since the beginning of the situation, that is from February 28, to over 10,000," Asangba Chuba Ao, Joint Secretary in the Ministry of...

New Delhi, April 7 Tata Mutual Fund announced on Tuesday the resumption of all fresh inflows through lump-sum and switch-in applications for the Tata Small Cap Fund, effective April 6.This decision follows a period where the fund house had restricted lump-sum inflows to manage liquidity and capital deployment within the small-cap segment."Our decision to resume subscriptions reflects our confidence in current investment opportunities and our ability to identify businesses with strong balance sheets and sustainable growth trajectories. While volatility is inherent to this category, the recent correction has created an opportunity to build positions at more reasonable entry points for potential long-term compounding," Anand...

Mumbai, April 7 Yatra Online announced a strategic collaboration with Google Cloud on Tuesday to accelerate its AI-driven transformation across both corporate and personal travel businesses.By leveraging the multimodal capabilities of Google Gemini on Vertex AI, Yatra is building a new generation of intelligent, agent-based travel solutions designed to simplify booking, enhance expense management, and deliver seamless end-to-end travel experiences, the online travel company said in a statement."AI is fundamentally reshaping how travel is planned, booked, and managed.Our collaboration with Google Cloud allows us to reimagine the entire travel lifecycle. With DIYA, we are enabling a more intuitive, conversational booking experience...

New Delhi, April 7 – The Ministry of Heavy Industries (MHI) organized a pre-bid conference here on Tuesday for prospective bidders under the 'Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets' (REPM), attracting participation from at least 25 companies.During the conference, ministry officials made detailed presentations on the scheme's features, key Request for Proposal (RFP) provisions, and the procedural aspects of the bidding process.The conference addressed participant queries, and bidders were informed that the deadline for submitting queries via email is April 22, 2026.The bidding process will be conducted online in a transparent two-stage manner under the Least Cost Selection (LCS) mechanism through...

New Delhi, April 7 – Millions of central government employees and pensioners are eagerly awaiting the outcome of the drafting committee of the National Council (Joint Consultative Machinery) on April 13, to gain insights into the proposed salary revision under the 8th Pay Commission, according to a report published on Tuesday.The drafting committee meeting, scheduled for 11:00 am at the JP Choubey Memorial Library (AIRF office premises) here, will review a final common memorandum and discuss revisions to the pay scale, annual increments, allowances, and other benefits, the NDTV Profit report stated."The April 13 meeting is part of the continuation of the March 12, 2026, meeting, where all members of the 8th Pay Commission drafting...

Mumbai, April 7 The benchmark indices Sensex and Nifty ended higher on Tuesday, as a drop in crude oil prices and a rally in global markets calmed investors' sentiment.Also, buying in IT stocks aided the recovery in the markets after early losses.The 30-share BSE Sensex jumped 509.73 points, or 0.69 per cent, to settle at 74,616.58. During the day, it hit a high of 74,686.32 and a low of 73,282.41, fluctuating by 1,403.91 points.The 50-share NSE Nifty climbed 155.40 points, or 0.68 per cent, to end at 23,123.65.Among the major gainers from the 30-Sensex firms were Tata Consultancy Services, HCL Tech, Infosys, Bharti Airtel, Sun Pharma, and Hindustan Unilever.InterGlobe Aviation, Adani Ports, Mahindra & Mahindra, and Titan were...

New Delhi, April 7 Leading retail players reported strong double-digit revenue growth in the fourth quarter of FY26, driven by a stable demand environment and resilient macroeconomic conditions.Listed retail companies such as Trent, Avenue Supermarts (D-Mart), and V-Mart reported around 20 per cent year-on-year growth in their latest quarterly updates, aided by aggressive store additions and steady consumption trends.Trent, a Tata group firm, reported around 20 per cent growth in standalone (domestic) revenue to Rs 4,937 crore in the March quarter of FY26. This was up from Rs 4,106 crore in the corresponding January-March period a year ago."Revenue from the sale of merchandise (excluding other operating income) grew by 21 per cent...

New Delhi, April 7. Flight operations between India and West Asia have been severely disrupted since the outbreak of conflict in the region, with over 10,000 flights operated by Indian carriers cancelled so far, a senior government official said on Tuesday.According to Asangba Chuba Ao, Joint Secretary at the Ministry of Civil Aviation, Indian airlines that earlier operated around 300 to 350 daily flights to West Asia are now operating only 80 to 90 flights per day.The sharp decline highlights the scale of disruption caused by the ongoing war in the region.The conflict began on February 28, when the United States and Israel launched attacks on Iran, leading to widespread airspace restrictions and safety concerns across key flight...

The Ministry of Mines has notified the Mineral (Auction) Second Amendment Rules, 2026 on March 30, 2026, marking a fresh push to fast-track mine operationalisation and strengthen efficiency across India’s mining sector. The move builds on ongoing reforms aimed at improving transparency and enhancing ease of doing business.Background: Earlier Reforms Focused on Timelines and Accountability The amendment follows significant changes introduced on October 17, 2025, to the Mineral (Auction) Rules, 2015. These earlier reforms established structured timelines from the issuance of the Letter of Intent (LoI) to the execution of mining leases.Under those rules:Preferred bidders faced a penalty of 1% of performance security for each month of...

Indian Navy's INS Sunayna, operating under the Indian Ocean Ship (IOS) SAGAR initiative, reached Male on April 6, 2026, marking the first port call of its operational deployment. The arrival was met with a warm welcome from the Maldives National Defence Force (MNDF), underscoring the deep and enduring maritime partnership and close regional ties between India and the Maldives.Two MNDF personnel are part of the multinational crew embarked onboard the vessel.The international crew conducted intensive training during the transit to Male, covering seamanship, small arms firing, and damage control drills. This focus reflects a strong emphasis on collective readiness, operational interoperability, and maritime cooperation. The deployment...

New Delhi, April 7 Total retail sales of electric vehicles in India grew by 24.6 per cent to 24.52 lakh units in FY26, compared to the previous fiscal, with all categories experiencing strong double-digit growth, the Federation of Automobile Dealers Associations said on Tuesday.While electric two-wheelers reached 14 lakh units, retail sales of electric passenger vehicles fell just short of 2 lakh units but surged by 83.63 per cent in FY26, FADA said in a statement."FY'26 has been a turning point for India's electric mobility story. Total EV retail across two-wheelers, three-wheelers, passenger vehicles, and commercial vehicles stood at approximately 24.52 lakh units, growing nearly 24.6 per cent year-on-year, with every category...

The Ministry of Heavy Industries (MHI) organized a pre-bid conference on April 7, 2026, for prospective bidders under the 'Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet,' receiving participation and interest from at least 25 companies.MHI issued the Request for Proposal (RFP) on March 20, 2026, inviting bids for establishing integrated Rare Earth Permanent Magnet (REPM) manufacturing facilities in India. The scheme targets a total manufacturing capacity of 6,000 MTPA with a scheme outlay of ₹7,280 Crore.During the conference at the India Habitat Centre in New Delhi, a detailed presentation covered the Scheme's contours, major provisions of the RFP, and procedural aspects of the bidding process. MHI...

New Delhi, April 7 – The Reserve Bank of India (RBI) is likely to maintain its policy rates, as liquidity tools will take center stage in 2026, even though crude prices are about 50 per cent above the central bank’s $70 per barrel assumption, a report said on Tuesday."Current oil prices are 50 per cent above RBI’s assumption of $70/bbl. Despite this, we continue to see a high bar for monetary tightening," the report from SBI Mutual Funds said.The AMC firm noted metals and mining as sectoral winners from higher energy prices and flagged negative impacts for airlines, tourism, chemicals, fertilizers, and textiles. IT, telecom, pharma, and power are relatively safe bets, it added.With large-cap valuations now inexpensive, any...

The Ministry of Statistics and Programme Implementation (MoSPI) has revised the base year for National Accounts to 2022-23. This revision aims to more accurately reflect the current structure of the economy by incorporating updated data sources and aligning estimation practices with evolving international standards. Concurrently, the base year for Gross State Value Addition (GSVA) will also be revised by States/UTs to ensure more accurate, consistent, and comparable estimates of the states' economic performance over time, aligning with the GDP at the National level.A Sub-Committee on Regional Accounts has been constituted under the ACNAS. This committee, chaired by Prof. Ravindra H. Dholakia (Retd.), Professor, IIM Ahmedabad, includes...

Beijing, April 7 China announced on Tuesday a further increase in gasoline and diesel prices, the second in about two weeks, due to rising international oil prices driven by the ongoing conflict in West Asia.China's top economic planner, the National Development and Reform Commission (NDRC), announced that the new price increases would take effect from Wednesday.China had already increased gasoline and diesel prices on March 23 as part of preparations for a fuel crisis amid concerns about the current US-Israel-Iran conflict.Since the adjustment of domestic oil prices in late March, international crude oil prices have experienced significant fluctuations, the NDRC said in a statement.Due to control measures, the prices of...

Mumbai, April 7 – Maharashtra Chief Minister Devendra Fadnavis inaugurated the first phases of Mumbai Metro Line 9 from Dahisar East to Kashigaon and Line 2B, which runs from Mandale to Chembur, on Tuesday.With regular services on both lines set to begin on Wednesday, the country's financial capital will have six operational metro lines.Fadnavis first inaugurated the first phase of Metro Line 9, starting a train from Dahisar East, and traveled to Kashigaon along with Deputy Chief Minister Eknath Shinde, Transport Minister Pratap Sarnaik, and Mumbai Mayor Ritu Tawde. This line connects the northern suburb of Dahisar with neighbouring Mira Bhayandar in Thane district.Speaking to reporters, Fadnavis said that a convenient and...

New Delhi, April 7 The government is exploring options, including the issuance of preference shares or fresh equity, to maintain a 51% stake in the state-owned Power Finance Corporation after its merger with REC, a senior official said.Finance Minister Nirmala Sitharaman had announced the restructuring of Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) in the FY27 budget to help achieve scale and improve efficiency in the public sector NBFC sector."The government would like to retain a majority stake in the merged entity, as it would be the largest government-owned NBFC with a strategic presence. Discussions are underway to ensure that the government's stake in the merged entity does not fall below 51%,"...

Mumbai, April 7 Air India CEO and Managing Director Campbell Wilson told staff on Tuesday that it was the right time to hand over control of the airline for its next phase of growth.Wilson, who has decided to resign, has been at the helm for four years since mid-2022 and will remain with the airline to ensure a smooth transition."I am incredibly proud of what you have achieved, especially in the face of unprecedented challenges, including aircraft delivery delays, supply chain issues, two wars, airspace closures, high fuel prices, and, most tragically, the recent incident," Wilson said.He stated that it was the right time to hand over control of the airline."With a limited window until bulk deliveries from the nearly...

Mumbai, April 7 The stock market benchmark indices, Sensex and Nifty, ended higher on Tuesday, as a drop in crude oil prices and a rally in global markets calmed investor sentiment.Furthermore, buying in IT stocks helped the market recover after early losses.The 30-share BSE Sensex jumped 509.73 points, or 0.69 per cent, to close at 74,616.58. During the day, it reached a high of 74,686.32 and a low of 73,282.41, fluctuating by 1,403.91 points.The 50-share NSE Nifty climbed 155.40 points, or 0.68 per cent, to end at 23,123.65.Among the major gainers from the 30-Sensex firms were Tata Consultancy Services, HCL Tech, Infosys, Bharti Airtel, Sun Pharma, and Hindustan Unilever.InterGlobe Aviation, Adani Ports, Mahindra & Mahindra...

Seoul, April 7 – LG Energy Solution Ltd, South Korea's leading battery maker, announced on Tuesday that it had posted an operating loss in the first quarter, apparently due to the impact of the US-Iran conflict.The operating loss amounted to 207.8 billion won (US$138.2 million) for the January-March period, compared to a profit of 374.7 billion won a year earlier, the company said in a regulatory filing.Sales decreased by 2.5 percent to 6.55 trillion won. Data on net earnings was unavailable, according to Yonhap news agency.The operating loss was 30.4 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.The company will release its final earnings report...