Business

New Delhi, April 4: The new labor codes have changed gratuity rules, allowing certain eligible employees to claim gratuity after one year of continuous service, a reduction from the previous five-year rule.The new labor codes, implemented in November 2025, make gratuity available sooner for fixed-term and contract workers on a pro rata basis. Permanent employees still need to complete five years of service to claim gratuity, while there are exceptions in cases of death or disability, according to a report from NDTV Profit.Fixed-term employees are hired by companies for a specific period under a written contract, which may extend for one or two years. Gratuity for such employees will now be calculated on a pro rata basis, reflecting...

Hyderabad, April 4 Indian pharmaceutical exports reached nearly USD 29 billion by February of this financial year, registering a growth of five percent compared to the same period last year, a top official said on Saturday.K Raja Bhanu, Director General of the Pharmaceuticals Export Promotion Council of India (PHARMEXCIL), said that the sector, currently valued at approximately USD 60 billion, is projected to grow to USD 130 billion by 2030."Despite global challenges, pharmaceutical exports have been one of the few sectors that has maintained its growth momentum. Pharmaceutical exports during the April-February 2025-26 period stood at USD 28.29 billion, reflecting a growth of 5.6 percent compared to the same period in 2024-25...

Jaipur, April 4 The ongoing conflict in West Asia has begun to impact exporters in the Bikaner region. Shipments of popular food items, such as bhujia, papad, and spices to Gulf and European countries are facing severe disruptions, traders said.Bikaner, known for its namkeen industry, exports large quantities of snacks, spices, and other products to countries in the Gulf region and Europe.However, exporters said that the war has led to delays, rising freight costs, and container shortages, affecting both exports and imports.Ashish Agarwal, a namkeen trader associated with the Bhikharam group, said that escalating input and logistics costs are hurting the industry."Freight charges have increased sharply due to the war, and the...

Mumbai, April 4 – HDFC Bank reported on Saturday a widening gap between credit and deposit growth in the March quarter, as strong loan expansion continued to outpace relatively slower deposit mobilization, keeping the bank's credit-deposit ratio elevated.According to an exchange filing, the bank's gross advances rose by approximately 17 per cent year-on-year (YoY) to nearly Rs 25 lakh crore as of March 31, compared to about Rs 21.4 lakh crore a year ago.On a sequential basis, loan growth remained moderate, largely supported by the retail and SME segments, while corporate lending continued in a calibrated manner. Retail loans once again drove incremental disbursements during the quarter.On the liabilities side, total deposits stood...

New Delhi, April 4 – An LPG tanker bound for India has begun its journey through the strategically important Strait of Hormuz, offering some relief to concerns about energy supplies amid the ongoing conflict in West Asia.The vessel, Green Salvi, is carrying over 46,000 metric tonnes of liquefied petroleum gas (LPG) and is expected to exit the narrow waterway by early morning, according to sources.The shipment is likely to play a crucial role in supporting India's domestic cooking gas supply at a time when global energy routes remain under pressure.Sources said the tanker is not sailing alone. It is leading a convoy of three Indian LPG carriers moving through the Strait, making it the seventh India-bound vessel to cross the...

Mumbai, April 3 India's foreign exchange reserves declined by USD 10.288 billion to USD 688.058 billion during the week ended March 27, the Reserve Bank of India (RBI) said on Friday.In the previous reporting week, the overall reserves had declined by USD 11.413 billion to USD 698.346 billion.The kitty had expanded to an all-time high of USD 728.494 billion during the week ended February 27 this year, before the onset of the West Asia conflict.The rupee has come under pressure since the start of the West Asia conflict, and the RBI has been intervening in the forex market through dollar sales and has also taken some surprising policy measures to harness the fall.For the week ended March 27, foreign currency assets, a major...

New Delhi, April 3 The one-time duty concession for manufacturing units in SEZs will provide them with limited access to the domestic market while preserving their export-oriented nature, experts said on Friday.However, the relatively modest duty relief somewhat diminishes the potential benefits for these special economic zones (SEZs), as it is not structured around the principle of duty forgone, they added."Consequently, the measure falls short of fully addressing the import substitution objective or significantly incentivising domestic procurement by SEZ units for manufacturing for DTA (domestic tariff area) requirements," said Gulzar Didwania, Partner, Deloitte India.He added that the measure reflects a nuanced shift in India's...

New Delhi, April 3 Indian Oil Corporation (IOC), the country's largest oil firm, said on Friday that liquefied petroleum gas (LPG) supply in India remains stable and adequate despite geopolitical disruptions to global energy markets, adding that domestic availability continues to be its top priority. Market trend analysisThe company said it is delivering around 28 lakh LPG cylinders daily, in line with normal levels prior to the current tensions, with uninterrupted supply to households.IOC added that nearly 87 per cent of refill bookings are being made through digital platforms, while deliveries are being authenticated through OTP-based systems to ensure correct distribution."India's LPG supply remains stable, adequate, and under...

New Delhi, April 3 – Japan's Ministry of Foreign Affairs has established a new Japan-India Economic Affairs Division to help Japanese companies invest in India, as part of its strategy to strengthen bilateral economic ties."Through the establishment of the Japan-India Economic Affairs Division, the Ministry of Foreign Affairs of Japan will further promote public-private efforts to encourage Japanese companies' expansion of business and investment into India, and to deepen cooperation in the area of economic security with India," the ministry said in a statement."Given India's high rate of economic growth, the importance of economic cooperation in Japan-India relations is growing day by day," it said.The new initiative is expected...

New Delhi, April 3 India's passenger vehicle industry is expected to see growth moderate to 4-6 per cent in FY27, largely due to the high base and evolving macroeconomic conditions, ratings agency ICRA said on Friday.For FY26, the industry is estimated to report wholesale volume growth of around 7-9 per cent, supported by strong festive demand, GST rate cuts, and multiple new model launches, ICRA said in a statement."The industry continues to witness structural shifts, with utility vehicles accounting for nearly 67 per cent of overall sales, reflecting sustained premiumisation trends," it said.Further, the increasing adoption of alternative powertrains such as CNG and electric vehicles is aiding demand diversification, ICRA said...

New Delhi, April 3: Chinese artificial intelligence (AI) models are rapidly gaining global traction, raising concerns among US policymakers over potential risks to national security, supply chains, and economic competitiveness, according to a report.According to the War on the Rocks analysis, Chinese AI systems, which accounted for just 1 per cent of global workloads in late 2024, surged to nearly 30 per cent by the end of 2025.Models developed by companies such as Alibaba, along with emerging players like DeepSeek, Moonshot AI, and MiniMax, are increasingly being used in applications ranging from academic research to enterprise solutions.The report highlighted that while these models are often open-source and freely available...

New Delhi, April 3 – The Indian passenger vehicle industry is estimated to report wholesale volume growth of around 7-9 per cent in FY26, driven by strong festive demand, GST rate cuts, and multiple new model launches, according to a report released on Friday.The growth is expected to moderate to 4-6 per cent in FY2027, largely due to the high base and evolving macroeconomic conditions, according to credit rating agency ICRA.The report anticipates a slowdown in growth across India's passenger vehicle (PV) and tractor sectors in FY27, following strong performance in FY26, while maintaining a stable outlook supported by healthy demand drivers and strong credit profiles.The industry continues to witness structural shifts, with...

Seoul, April 3 – South Korea and France vowed to expand cooperation in strategic science sectors, including artificial intelligence (AI), while reaffirming their status as key partners in cutting-edge technology research, the science ministry said.Science Minister Bae Kyung-hoon and his French counterpart, Philippe Baptiste, held related discussions during a joint committee meeting on science and technology in Seoul on the occasion of French President Emmanuel Macron's visit, according to the Ministry of Science and ICT.Macron arrived in Seoul on Thursday for a two-day state visit, marking his first trip to South Korea since taking office in 2017. The trip coincides with the 140th anniversary of diplomatic ties between the two...

Nagpur, April 3 Western Coalfields Ltd (WCL), Nagpur, has produced 63.03 million tonnes of coal during the financial year 2025-26, according to a company release.WCL, Nagpur, produced 63.03 million tonnes of coal, achieved a despatch of 60 million tonnes of coal, and carried out 354.33 million cubic metres of Over Burden Removal (OBR), the release added.Furthermore, during FY 2025-26, WCL obtained incremental environmental clearance for 5.375 million tonnes and has secured stage-II forest clearance for 207.76 hectares of forest land across seven projects.Among the company's operational areas, the Wani Area recorded the highest contribution to coal production, with 13.31 million tonnes, followed by the Nagpur area with 11.65...

New Delhi, April 3 The Confederation of Indian Industry (CII), a major industry lobby, welcomed the passage of the Jan Vishwas (Amendment of Provisions) Bill, 2026, by Parliament on Friday. CII stated that once implemented, the bill will significantly reduce the compliance burden on businesses, accelerate dispute resolution, and help strengthen investor sentiment.On Thursday, Parliament passed the Jan Vishwas (Amendment of Provisions) Bill, 2026, to amend 784 provisions in 79 central laws to decriminalize and rationalize minor offenses, further improving the business environment and preventing harassment."CII warmly welcomes the passage of the Jan Vishwas (Amendment of Provisions) Bill, 2026, which is a significant step that...

New Delhi, April 3 Coal India's subsidiary, NCL, announced on Friday that it supplied a record 137.08 million tonnes (MT) of coal to its customers in the power and other sectors during 2025-26, significantly bolstering India's energy security amid rising domestic demand and shifting global dynamics.Of the total supply, approximately 86 per cent, equivalent to 117.85 MT, was supplied to coal-based power plants."In the face of evolving global energy dynamics and increasing power demand in the country, NCL's consistent performance has played a significant role in supporting the country's energy security. Reinforcing its contribution to national energy security, NCL dispatched 137.08 million tonnes of coal to the power sector and other...

India–Korea Partnership Targets Maritime Workforce Development and Industrial Growth Strategic Push Under Maritime Amrit Kaal Vision 2047 to Build Future-Ready Shipbuilding Ecosystem New Delhi, April 3, 2026: In a major development aimed at enhancing India’s maritime capabilities, the Ministry of Ports, Shipping and Waterways has signed a Plan of Implementation with the Korea International Cooperation Agency on April 2, 2026. The agreement focuses on advancing skill development in India’s shipbuilding sector.The initiative aligns with the Maritime Amrit Kaal Vision 2047 and is titled “Support the Establishment of Development Strategies and to Build a Foundation for Skilled and Professional Talents for the Indian Shipbuilding and...

Strategic Push Under Sagarmala and PM Gati Shakti to Improve Cargo Movement New Delhi, April 3: In a significant move to strengthen port-led infrastructure, the government has approved a ₹132.51 crore project for constructing a Road Over Bridge at LC-235 within the Deendayal Port Authority at Kandla.The project has been cleared by Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal and is being executed by Western Railway on a deposit basis.Key Infrastructure Upgrade to Ease Congestion at Deendayal Port The proposed Road Over Bridge is aimed at resolving critical logistical challenges at the port by ensuring seamless movement across an existing rail crossing. The development is expected to eliminate bottlenecks...

New Delhi, April 3 Tractors and Farm Equipment Ltd reported a 23 per cent increase in total tractor sales, reaching a record 2,14,951 units in 2025-26, compared to 1,74,785 units in the previous fiscal year.The company concluded the fiscal year on a strong note, achieving 37.4 per cent growth in March 2026, Tractors and Farm Equipment Ltd (TAFE) said in a statement.It also achieved the highest-ever domestic sales, with both the company's brands, Massey Ferguson and Eicher tractors, recording their highest sales, TAFE added.Commenting on the performance, TAFE Vice Chairman Lakshmi Venu said this has been a very positive year for both the tractor market and for farmers across the country. In addition to favorable monsoon rains, the...

New Delhi, April 3: The depreciation of the Indian rupee since February 27 is, in fact, in line with other currencies, and better than currencies that appreciated significantly in the earlier period (April 2, 2025 to February 27, 2026), according to SBI Research, indicating that in an uncertain world, pushing the limits on rupee depreciation as a shock absorber does not hold beyond a certain point.Interestingly, the Indian rupee depreciated by 6.4 per cent between April 2, 2025 and February 27, 2026. At the same time, the dollar index also depreciated by 6 per cent during the same period.According to the report, this was the time when most currencies were appreciating against the dollar, but not the rupee, which may have led to an...