Business

New Delhi, April 7: Global geopolitical tensions are beginning to weigh on India's economic outlook, but the country is still expected to maintain steady growth, with GDP growth projected at 6.2 per cent for FY2027, a report said on Tuesday.The data, compiled by Morgan Stanley, projects India's growth, even as rising energy costs, supply disruptions, and external pressures pose fresh challenges.However, this is lower than earlier estimates of 6.5 per cent, the report stated. The downgrade reflects the impact of higher crude oil prices, which are assumed to average around $95 per barrel.More expensive energy imports are increasing production costs for businesses and contributing to inflation, while also putting pressure on the...

New Delhi, April 7 As global supply chains realign and businesses look at setting up facilities outside China, India has emerged as a long-term strategic investment destination, with competitive export potential for Japanese mid-sized companies to partner with Indian MSMEs (micro, small, and medium enterprises) to drive growth.The India–Japan 'Joint Vision for the Next Decade', adopted during Prime Minister Narendra Modi's visit to Tokyo in August 2025, encourages cooperation among SMEs by fostering visits by Japanese SMEs to India and by expanding downstream industries.Japan aims to help its companies view India as a production base, considering its export-focused policies and its extensive trade agreement network, according to an...

New Delhi, April 7 – More than 70 per cent of consumers said they would continue using quick commerce platforms even if discounts were reduced, indicating a shift towards speed and convenience over price in everyday purchases, according to a report released on Tuesday.Local grocery stores remain central for routine grocery purchases and trust-based transactions in India, even though 51 per cent of consumers reported a decline in reliance on these stores over the past year, according to a report by Grant Thornton Bharat LLP.Around 45 per cent of consumers use quick commerce for last-minute or urgent purchases, 24 per cent use it for daily top-ups such as milk and bread, and 19 per cent for impulse purchases including snacks and...

New Delhi, April 7 – Automobile firm Skoda Auto Volkswagen India Private Limited (SAVWIPL) announced on Tuesday the commencement of production of the updated Volkswagen Taigun at its Pune facility, further strengthening its "Make in India, for India and the world" strategy.According to the company, the updated Taigun features a refreshed design and enhanced premium features, while being tailored for Indian driving conditions. It continues to focus on European driving dynamics, comfort, and safety standards."The start of production of the new Volkswagen Taigun underscores the maturity of our manufacturing ecosystem in India," said Piyush Arora, Managing Director and CEO of the company.He added that the company's Indian facilities...

New Delhi, April 7 Crude oil prices rose by nearly 3 per cent to hit a record high of Rs 10,888 per barrel in futures trading on Tuesday, driven by strong global cues as tensions between the US and Iran intensified ahead of President Donald Trump's deadline for reopening the Strait of Hormuz.On the Multi Commodity Exchange (MCX), crude oil for April delivery increased by Rs 300, or 2.83 per cent, to hit a lifetime high of Rs 10,888 per barrel.Similarly, the May contract also advanced by Rs 170, or 1.82 per cent, to touch a fresh record high of Rs 9,485 per barrel on the MCX."Crude oil prices remained firm as geopolitical tensions intensified ahead of US President Donald Trump's deadline for Iran, keeping markets highly sensitive...

New Delhi, April 7: Retail sector leasing in India’s top eight cities witnessed steady demand, reaching 1.95 million square feet in Q1 2026, amid limited new mall supply, a report said on Tuesday.The report from commercial real estate services firm Cushman & Wakefield said leasing moderated by 28 per cent quarter-on-quarter and 10 per cent year-on-year."This moderation follows a strong 2025, which recorded 9.21 million square feet of leasing, the highest annual performance in the post-COVID period, indicating that occupier interest remains intact despite near-term supply constraints," the report said.Despite the absence of new supply, mall leasing strengthened during the quarter, accounting for 47 per cent of total leasing...

New Delhi, April 7 Food startup KisaanSay has raised ₹34 crore from investors, including NABVENTURES and senior industry leaders, to expand its business.Founded by Nitin Puri, Vaishali Mehta & Manoj Karki, KisaanSay offers consumers a range of single-origin food products.In a statement on Tuesday, the company said it has closed a ₹34 crore funding round led by NABVENTURES through the AgriSURE Fund (Agri Fund for Startups & Rural Enterprises).The round also saw participation from senior industry leaders.KissanSay will use the funds to scale its distribution, marketing, and brand-building efforts, further strengthen the team, and deploy a full-stack technology infrastructure.Nitin Puri, Founder, KisaanSay, said, "Combined with...

Union Home Minister and Minister of Cooperation, Shri Amit Shah, commended Saraswat Cooperative Bank and Amul for achieving an annual turnover exceeding ₹1 lakh crore in the financial year 2025-26.Shri Amit Shah stated that the milestone achieved by Saraswat Cooperative Bank and Amul in 2025-26 serves as a clear illustration of the robust strength and immense potential within the cooperative sector. The Minister noted that this achievement marks a historic moment not only for the cooperative banking and dairy sectors but will also inject new energy into the ongoing mission of building an Atmanirbhar Bharat.In his commendation, Shri Amit Shah extended heartfelt congratulations to all the Karamyogies associated with Amul and Saraswat...

New Delhi, April 7 Housing sales fell by 4% year-on-year in the January-March quarter to 84,827 units across eight major cities, driven by high property prices and market uncertainty stemming from the West Asia conflict, according to Knight Frank.Housing sales stood at 88,361 units in the January-March period last year.Sales of residential properties declined in Mumbai, Delhi-NCR, and Pune, but increased in the other five cities – Bengaluru, Hyderabad, Chennai, Ahmedabad, and Kolkata.According to Shishir Baijal, International Partner, Chairman & Managing Director, Knight Frank India, the moderation in residential demand warrants closer attention, particularly as it follows a sustained multi-year upcycle."While this phase can be...

New Delhi, April 7. Fast breeder reactors will play a crucial role in delivering reliable, low-carbon base-load power with higher thermal efficiency, the government said on Tuesday, as India’s 500 MWe Prototype Fast Breeder Reactor (PFBR) achieved first criticality.This milestone, marking the start of a controlled nuclear fission chain reaction, is seen as a significant step towards strengthening the country’s long-term energy security and advancing indigenous nuclear technology capabilities.The PFBR achieved criticality on Monday after meeting all safety stipulations laid down by the Atomic Energy Regulatory Board (AERB), which granted clearance following a rigorous review of plant systems.Moreover, Prime Minister Narendra Modi...

New Delhi, April 7 – JPMorgan Chase CEO Jamie Dimon has stated that geopolitical tensions, including the wars in Ukraine and Iran, represent the biggest risks facing the bank and the global economy, and urged a renewed commitment to core American values to navigate these uncertainties.The CEO warned about economic uncertainty stemming from these tensions, including their impact on commodities, as well as the widespread impact of artificial intelligence across industries."The challenges we all face are significant. The list is long, but at the top are the ongoing war and violence in Ukraine, the current war in Iran, and the broader hostilities in the Middle East, as well as terrorist activity and growing geopolitical tensions...

The 500 MWe Prototype Fast Breeder Reactor (PFBR) achieved first criticality, marking a major development for India's nuclear energy sector. This historic milestone occurred on April 6, 2026, at 08:25 PM, bolstering the nation's long-term energy security and advancing indigenous nuclear technology.The criticality was achieved in the presence of Dr Ajit Kumar Mohanty, Secretary, DAE & Chairman, AEC, Shri Sreekumar G. Pillai, Director, IGCAR, Shri Allu Ananth, CMD-In-Charge, BHAVINI, and Shri K.V. Suresh Kumar, Former CMD, BHAVINI & Homi Sethna Chair. This event followed the fulfillment of stipulations from the Atomic Energy Regulatory Board (AERB).The technology development and design for the PFBR were indigenously executed by the...

New Delhi, April 7 The government is considering a ₹2.5 lakh crore credit guarantee scheme to support businesses, especially MSMEs affected by the West Asia crisis, sources said.Under the scheme, a credit guarantee of about 90 per cent on loans of up to ₹100 crore would be provided to lenders in case of default by borrowers due to the ongoing US-Iran conflict.The guarantee on bank loans would be provided by the National Credit Guarantee Trustee Company (NCGTC), a wholly-owned subsidiary of the government.The government would have to provide about ₹17,000 crore to ₹18,000 crore for the scheme.Sources said the scheme was a huge success during the COVID-19 pandemic and helped many businesses across various sectors to stay afloat...

New Delhi, April 7 Crude oil prices surged by Rs 300, hitting a record high of Rs 10,888 per barrel in futures trading on Tuesday, driven by strong global energy benchmarks amid persistent supply concerns and geopolitical tensions in West Asia.On the Multi Commodity Exchange (MCX), crude oil for April delivery rose by Rs 300, or 2.83 per cent, to reach a lifetime high of Rs 10,888 per barrel.Similarly, the May contract also increased by Rs 170, or 1.82 per cent, to touch a new record high of Rs 9,485 per barrel on the MCX.Analysts said crude prices remained supported by tightening global supply conditions and uncertainty surrounding the Strait of Hormuz, a key shipping transit route for energy exports.The rally followed sharp...

Mumbai, April 7 – Shares of Jubilant FoodWorks Ltd, the parent company of Domino's outlets in India, plunged sharply in early trading on Tuesday after the company reported weak like-for-like (LFL) growth in its fourth quarter (Q4) business update.The stock fell as much as 9.23 per cent to Rs 418.50 on the NSE, underperforming the benchmark Nifty 50, which declined 0.6 per cent.Jubilant FoodWorks reported a consolidated revenue growth of 19 per cent year-on-year to Rs 2,506 crore in the January-March quarter.However, Domino's India posted a marginal LFL growth of 0.2 per cent during the quarter, indicating muted demand trends in its core market.Analysts said the weak LFL performance could weigh on margins in the India business...

New Delhi, April 7: Gold and silver prices experienced volatility on Tuesday, amid geopolitical tensions following US President Donald Trump’s recent aggressive posts regarding Iran.On the Multi Commodity Exchange (MCX), gold futures (June 5) were trading at ₹1,50,228, up ₹247 or 0.16 per cent at 11:35 am.On the intraday front, the yellow metal rose as much as 0.32 per cent or ₹493 to ₹1,50,474. Earlier in the session, before 10 am, it was trading lower by 0.23 per cent or ₹356 at ₹1,49,625.Similarly, silver futures (May 5) were trading 0.48 per cent or ₹1,121 higher at ₹2,34,500. The white metal gained nearly 1 per cent or ₹2,168 to hit an intraday high of ₹2,35,547, after earlier witnessing a decline of 0.67 per cent or ₹1,579...

New Delhi, April 7 – The Centre has decided to double the daily allocation of 5-kg free trade LPG (FTL) cylinders available for distribution to migrant labourers across states, according to an official communication.The Petroleum Ministry said in a notification that the enhanced allocation will be based on the average daily supply of cylinders provided to migrant workers.The revised allocation goes beyond the earlier cap of 20 per cent specified in the March announcement.The government also said that the additional 5-kg FTL cylinders will be made available to state governments and their Food and Civil Supplies Departments for distribution exclusively to migrant labourers, with the assistance of oil marketing companies (OMCs)...

New Delhi, April 7 – Global crude oil prices soared on Tuesday, hitting new highs with more than a 3 per cent jump, amid geopolitical tensions and US President Donald Trump's deadline on Tuesday to reopen the Strait of Hormuz to Iran.Brent crude futures rose as much as 1.69 per cent, or $1.86, to $111.63, reaching a daily high at 9:57 am. US West Texas Intermediate crude futures increased by more than 3 per cent, or $4.15, to $116.87.Brent crude has seen a gain of over 60 per cent since the conflict began, from $72.48 (February 27) to $119.50 (March 9).These gains in oil commodities came after President Trump displayed fresh aggression towards Iran in recent posts on a social media platform regarding reopening the Strait of...

Mumbai, April 7 The benchmark indices, Sensex and Nifty, declined in early trading on Tuesday as surging crude oil prices, coupled with growing uncertainty about the outcome of the war in West Asia, dampened investor sentiment.Unabated outflows of foreign funds also contributed to the negative trend.The 30-share BSE Sensex plunged by 824.44 points to 73,282.41 in early trading. The 50-share NSE Nifty dropped by 248.95 points to 22,719.30.Among the 30 companies in the Sensex, InterGlobe Aviation, Eternal, Axis Bank, Mahindra & Mahindra, State Bank of India, and Larsen & Toubro were the worst performers.Tech Mahindra, HCL Tech, Bajaj Finance, and Tata Consultancy Services were among the gainers.Brent crude, the global benchmark...

Seoul, April 7 – South Korea has secured an additional 60 million barrels of alternative oil supplies for May, which will replace supplies from the Middle East that have been disrupted due to the effective closure of the Strait of Hormuz, the government said on Tuesday.The country has secured a total of 110 million barrels of oil – 50 million for April and 60 million for May – so far from 17 countries, including Saudi Arabia, the United States, the United Arab Emirates, Brazil, and Canada, said Yang Ghi-wuk, deputy minister for trade, industry, and resource security, in a regular press briefing, according to Yonhap news agency.The amount secured for this month and May each represents about 60 percent and 70 percent, respectively, of...