Business

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...

New Delhi, April 3: Sentiment towards India's IT services sector has turned more negative amid rising global uncertainties, although investors remain hesitant to make strong directional bets, a report said on Friday.BNP Paribas India said in its report that while uncertainty has increased, investors – particularly hedge funds – are avoiding clear market calls and are instead reducing exposure by trimming positions based on specific factors.The report noted that recent volatility, including rapid reversals in US trade tariff policies, has made investors cautious about taking aggressive positions.However, sentiment towards India has weakened, with concerns emerging over potential earnings pressure due to limited availability of...

New Delhi, April 3 India's exports have maintained a strong pace despite global challenges, and are expected to show positive growth in 2025-26, a senior official from the Ministry of Commerce said on Friday.Data on exports and imports for the month of March and the full 2025-26 fiscal year will be released by the Ministry of Commerce on April 15."Even at the end of March 31, despite the ongoing war, we will be concluding the year with positive growth. Despite US tariffs, numerous disruptions throughout the year, the ongoing war in Ukraine, and the start of the war in Iran, merchandise exports have maintained their momentum," the official said.The country's merchandise exports declined marginally by 0.81 per cent year-on-year to...

New Delhi, April 3 – India's largest automobile company, Maruti Suzuki, announced on Friday that it added 502 new service touchpoints in the financial year ending March 2026, marking the highest single-year network expansion in the automaker's history. This brought the company's total after-sales service footprint to 5,926 touchpoints spread across 3,000 cities and towns nationwide.The newly added locations include ARENA and NEXA workshops, Maruti Suzuki Sales and Service Points (MSSPs), and Service-on-Wheels, reflecting the company's efforts to serve customers in major cities, small towns, and even remote areas."Whether customers want to visit a workshop, opt for doorstep service, get their vehicle serviced at a convenient...

Hyderabad, April 3 Telangana Chief Minister A Revanth Reddy announced his ambitious goal to transform the state into the 'textile capital of South Asia' by 2047, on Friday.Speaking at the Asian Textiles Conference 2026 (ATEXCON) here, he said the government provides the best infrastructure, land, power, water, and incentives, along with "the fastest execution," to the industry.Pointing out that the state government's 'Telangana Rising 2047' vision aims to propel the state towards a $3 trillion economy by the country's centenary of independence, he said the initiative is significant for the textile industry."By 2047, we will transform Telangana into the textile capital of South Asia," Reddy said.The state government has policies...

New Delhi, April 3 – The Indian auto companies are facing significant cost pressures, but the market is systematically underestimating them, according to a report released on Friday. This is happening even as investor sentiment towards India has become distinctly more cautious.A BNP Paribas analysis found that investors are reluctant to take a clear position on the market. Hedge funds are largely removing specific exposures from their portfolios, with several actively reducing their overall exposure.The rapid reversal of US tariffs last year has led investors to believe that the current energy crisis may be short-lived.The overall outlook on India has become more negative. A key concern is the availability of LNG (liquefied...

New Delhi, April 3 A tanker sanctioned by the US, carrying Iranian crude oil, has rerouted mid-voyage from its previously indicated destination of India – where it would have marked the first such shipment in nearly seven years – to China.The Aframax tanker Ping Shun, built in 2002 and sanctioned by the US in 2025, is now signalling Dongying in China as its destination instead of Vadinar in Gujarat, which it had indicated earlier this week, according to ship-tracking firm Kpler.There is no confirmation that the destination indicated by the ship's Automatic Identification System (AIS) transponder – a tracking system mandated on most commercial vessels – is the final one, and it may change at any time during the transit."An Iranian...

New Delhi, April 3 Maruti Suzuki India Ltd aims to expand its service network to approximately 8,000 touchpoints by fiscal year 2030-31, its Managing Director & CEO, Hisashi Takeuchi, said on Friday.The company added 502 new service touchpoints in fiscal year 2025-26, Maruti Suzuki India Ltd (MSIL) said in a statement."As our customers are spread across the nation and their needs continue to evolve, we are continuously innovating and expanding our service touchpoints... Currently, we have 5,926 touchpoints, and we aim to expand this network to around 8,000 touchpoints by fiscal year 2030-31," Takeuchi said.Noting that for a car owner, nothing provides more comfort than knowing that they can easily find a service touchpoint and...

Islamabad, April 3 Pakistan has announced an unprecedented increase of 43 percent and 55 percent in the prices of petrol and high-speed diesel (HSD), respectively, in response to soaring global oil prices amid the US-Israel war on Iran.The government made the announcement on Thursday. The price of petrol has been increased by Rs 137.23 per litre (42.7 percent) to Rs 458.41 from Rs 321.17, while HSD by Rs 184.49 per litre (55 percent) to Rs 520.35 from Rs 335.86, with immediate effect.The price of kerosene was also increased by Rs 34.08 per litre to Rs 457.80.The government also adjusted the petroleum levy rates to limit the increase in diesel prices as the levy on petrol was increased to Rs 160 per litre from Rs 105, while it was...

New Delhi, April 3 The government held discussions on Friday about measures to encourage companies to increase production of induction heaters and cookware amid rising demand for these products due to the West Asia crisis, an official said.The crisis has disrupted the movement of ships carrying oil and gas through the Strait of Hormuz, raising concerns over cooking gas supplies and prompting people to rush to buy induction heaters and cookware.The meeting, chaired by Commerce and Industry Minister Piyush Goyal, was attended by senior officials, including the Power Secretary, DGFT and DPIIT Secretary."We discussed how we can speed up and increase the production of induction heaters and cookware," the official said.The demand for...

New Delhi, April 3 KEP Engineering Services on Friday said its integrated wastewater solutions help industries recover 90-95 per cent of wastewater, reducing dependence on fresh water and enhancing operational efficiency.The Hyderabad-based firm said that the solution, comprising effluent treatment plants, zero liquid discharge systems, multi-effect evaporators, and condensate integrated gas recovery, allows industrial clusters to treat and recycle virtually all process and utility water.These systems are designed to reclaim treated water for reuse in cooling towers, utilities, and other non-potable applications, thereby sharply reducing the amount of fresh groundwater or surface water drawn by large-scale units, the company said...

New Delhi, April 3 Vedanta group firm HZL has reported an increase in the production of mined metal and refined metal, but a slight decrease in silver production in the fourth quarter of FY26.The company's mined metal production increased by two per cent to 3,15,000 tonnes and its refined metal output rose by five per cent to 2,82,000 tonnes in the January-March quarter of FY26.Mined metal production refers to extracting raw ore from the earth and producing a concentrate that contains impurities. Refined metal production is the subsequent purification process, enhancing the grade to over 99 per cent purity for industrial use.In a statement, Hindustan Zinc Ltd (HZL) has said that its silver production dropped marginally by 0.2 per...