Business

₹9,200 Crore Invested Under Food Processing PLI Scheme; 168 Applicants Approved New Delhi, March 27 – Over ₹9,200 crore has been invested by 168 approved applicants under the Production-Linked Incentive Scheme for Food Processing Industries (PLISFPI), the government informed the Rajya Sabha on Friday.Investment and Capacity Creation Under PLISFPI Minister of State for Food Processing Industries Ravneet Singh said that as of December 31, 2025, a total investment of ₹9,207 crore has been made under the scheme.The initiative has also led to the creation of 35 lakh metric tonnes per annum of food processing and preservation capacity. So far, ₹2,714.79 crore in incentives has been disbursed to beneficiaries.MSMEs Lead Participation Out...

CEO Pay in India Rises 5% to ₹10.5 Crore in FY26: Deloitte Report New Delhi, March 27 – Median compensation for non-promoter or professional CEOs in India rose 5% year-on-year to ₹10.5 crore in FY26, marking the slowest growth since the COVID-19 pandemic, according to a Deloitte report.Slowest Growth in CEO Compensation Since Pandemic The report highlights that subdued growth reflects market volatility, equity market underperformance, and evolving pay structures, including increased use of incentives and stock-linked compensation.“Compensation decisions for senior executives in India have shown maturity. Given the underperformance of equity markets over the past 12–18 months, lower pay increases were expected,” said Anandorup Ghose...

India’s First Port of Refuge Operationalized by Adani Ports to Strengthen Maritime Safety Ahmedabad, March 27 – Adani Ports and Special Economic Zone Ltd (APSEZ) announced the operationalization of India’s first Port of Refuge (PoR), filling a critical gap in maritime emergency infrastructure and creating a structured mechanism for handling distressed vessels.Tripartite MoU Brings Global Expertise The initiative is supported by a tripartite MoU with SMIT Salvage—the salvage and emergency response division of Royal Boskalis Westminster NV (Boskalis)—and the Maritime Emergency Response Centre (MERC). The collaboration ensures coordinated response capability and access to global best practices.What is a Port of Refuge? As defined by...

Indian Stock Markets End Sharply Lower Amid Global Geopolitical Uncertainty Mumbai, March 27 – Indian stock markets fell sharply on Friday, snapping a two-day winning streak as uncertainty over ongoing talks between the United States, Israel, and Iran unsettled investor sentiment.Nifty and Sensex Close Deep in the Red The Nifty 50 declined 2.09%, or 486.85 points, to close at 22,819.60, while the BSE Sensex dropped 2.25%, or 1,690.25 points, to settle at 73,583.22.Experts noted that any rebound toward 23,500 could face immediate selling pressure, while a breach below 22,800 may trigger further market weakness. Analysts suggested a sell-on-rise strategy amid prevailing uncertainties.Key Stock MoversTop losers on the Sensex...

Centre’s ₹10 Per Litre Excise Duty Cut on Petrol and Diesel: Consumer Relief and Revenue Impact New Delhi, March 27 – The government’s decision to cut excise duty on petrol and diesel by ₹10 per litre provides near-term relief to consumers while raising questions about its impact on government revenues.Revised Excise Duty Rates Under the new rates, excise duty on petrol has been reduced to ₹3 per litre, while diesel has been effectively exempted. The move comes as global crude prices remain elevated due to ongoing geopolitical tensions in West Asia, putting pressure on oil marketing companies (OMCs).Relief for Oil Marketing Companies and Consumers The excise cut is expected to help OMCs offset rising input costs, allowing them to...

Rupee Hits Record Low of 94.82 Against US Dollar Amid High Oil Prices and Market Volatility Mumbai, March 27 – The Indian rupee tumbled 86 paise to close at a new all-time low of 94.82 (provisional) against the US dollar on Friday, pressured by rising oil prices and a stronger dollar amid ongoing West Asia tensions.Domestic Equity Market Decline Adds Pressure A sharp fall in domestic equities and continued outflows by foreign investors intensified pressure on the rupee. At the interbank foreign exchange market, the rupee opened at 94.18, breached the 94.50 level for the first time, and settled at 94.82, down 86 paise from the previous close.The rupee had fallen 20 paise to 93.96 against the US dollar on Wednesday. Thursday’s markets...

J&K Draft Hydropower Policy 2025 Released for Public Feedback Jammu, March 27 – Jammu and Kashmir Chief Minister Omar Abdullah announced on Friday that the draft J&K Hydropower Policy 2025 has been framed and released in the public domain for stakeholder consultation.Focus on Small Hydropower Projects and Affordable Electricity Responding to a question by assembly member Javaid Iqbal on utilizing small rivers and providing cheaper local electricity, Abdullah said the draft policy incorporates lessons from previous initiatives and best practices from neighboring states.Promoting Private Investment and Local Development The policy aims to encourage private investment in small hydropower projects, generate employment, and boost local...

New Delhi, March 27 – Crude oil prices rebounded to trade nearly 2% higher in domestic futures on Friday, driven by global energy gains and heightened geopolitical tensions in West Asia.On the Multi Commodity Exchange (MCX), April crude oil opened lower at ₹8,820 per barrel but surged ₹143, or 1.59%, to ₹9,142 per barrel. The May contract similarly recovered, climbing ₹142, or 1.63%, to ₹8,866 per barrel. Analysts say domestic crude is now hovering around ₹8,900 levels after a volatile week.In international markets, West Texas Intermediate (WTI) crude for May delivery rose USD 1.12, or 1.19%, to USD 95.60 per barrel, while Brent crude for June delivery increased 1.13% to USD 103.04 per barrel in New York.Commodity and currency...

New Delhi, March 27 – The government has cut excise duty on petrol and diesel by ₹10 per litre, shielding consumers from a price hike amid soaring global oil rates.Excise on petrol has been reduced from ₹13 to ₹3 per litre, and on diesel from ₹10 to nil, leading to an estimated annual revenue loss of ₹1.75 lakh crore. Simultaneously, the government has reintroduced export duties on diesel and aviation turbine fuel (ATF), imposing ₹21.5 per litre on diesel and ₹29.5 per litre on ATF to curb windfall gains by refiners—a levy first applied in July 2022 and withdrawn in December 2024. Domestic crude producers, including ONGC, remain exempt from windfall taxes.International crude prices have surged over 50% to above USD 100 per barrel...

New Delhi, March 27: Consumers who have shifted to piped natural gas (PNG) can now surrender their LPG connections from the comfort of their homes, without visiting a dealership, Secretary Neeraj Mittal said on Friday.The Ministry of Petroleum and Natural Gas (MoPNG) has introduced the MyPNG-D Portal, a new digital platform designed to streamline the process of voluntarily giving up LPG connections.Announcing the initiative on social media platform X, Mittal said PNG users can complete the surrender process online using either their registered mobile number or LPG ID, eliminating the need for in-person visits.“PNG consumers can now surrender LPG from home. You don’t need to visit the dealership—just use your registered mobile...

Coal India to Invest ₹3,300 Crore in New Coking Coal Washeries Expansion Plans and Capacity Boost New Delhi, March 27 – Coal India announced plans to invest approximately ₹3,300 crore to establish eight new coking coal washeries. This initiative is part of a strategy to enhance coal quality and lessen reliance on imported high-quality coking coal vital for steel production. The eight new facilities, slated for completion by 2029-30, will deliver a combined capacity of 21.5 million tonnes per year (MT). Currently, Coal India operates ten washeries with a total capacity of 18.35 MTY. This expansion represents more than doubling the existing capacity within the next four years.Facility OperatorCapacity (MTY)Central Coalfields...

ONDC Launches DigiHaat Platform to Connect Rural Sellers with Online Markets Government Initiative to Formalize Informal Economy New Delhi – March 27 – The Open Network for Digital Commerce (ONDC) has launched DigiHaat, a new platform designed to connect India’s artisans, farmers, and small producers with online markets, as part of the government’s efforts to formalize the country’s vast informal economy. The Department for Promotion of Industry and Internal Trade (DPIIT) announced the launch on Friday.DigiHaat is a dedicated buyer-side application that directly connects rural and underserved seller communities with online markets. Unlike other ONDC apps, which are privately run, DigiHaat represents ONDC’s own marketplace presence and...

Fuel Prices Remain Stable as Government Absorbs Losses New Delhi – Retail prices of petrol and diesel will not be adjusted following a recent excise duty reduction, according to a statement released by the government on Friday. Instead, the government will absorb the resulting losses incurred by public sector oil marketing companies (OMCs). The Ministry of Petroleum said the excise duty reduction of Rs 10 per litre on both petrol and diesel will offset approximately Rs 10 per litre of the under-recoveries currently being absorbed by Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation. At current international crude prices, under-recoveries stand at approximately Rs 26 per litre on petrol and Rs...

RBI Injects ₹65,322 Crore in Liquidity Mumbai, March 27 – The Reserve Bank of India (RBI) provided ₹65,322 crore of temporary liquidity into the banking system on Friday through a six-day variable rate repo (VRR) auction.Liquidity Injection Details The RBI announced the injection at a cut-off rate of 5.26 per cent and a weighted average rate of 5.29 per cent, as detailed in a central bank release.Liquidity Levels Despite a sharp drop in surplus liquidity in the banking system due to advance tax payments and GST outflows, the amount of liquidity injected was lower than the initially notified ₹75,000 crore. Current estimates indicate a surplus of approximately ₹48,698.38 crore as of March 26.Recent Liquidity Injections Over the past...

Bangladesh’s Fossil Fuel Import Bill Projected to Surge by $4.8 Billion New Delhi, March 27 – Bangladesh’s annual fossil fuel import bill is projected to increase by $4.8 billion, representing a 40 per cent rise from 2025 levels, according to a new analysis by Zero Carbon Analytics (ZCA).The analysis attributes this projected increase to the ongoing crisis in the Middle East. “This type of crisis is repeating itself, mirroring the price shocks caused by Russia’s invasion of Ukraine, leading to increased costs for Bangladesh’s reliance on fossil fuels and its delayed energy transition,” ZCA analysts wrote in their report.The Russia-Ukraine conflict had previously plunged Bangladesh into an economic crisis, with GDP levels only...

Dr. Reddy’s to Rename Semaglutide Drug Following Court Concerns Brand Name Change Underway New Delhi – Dr. Reddy’s Laboratories informed the Delhi High Court on Friday that it intends to change the brand name of its semaglutide drug from ‘Olymviq’ to ‘Olymra’. This decision follows a judge’s observation that the existing name could cause confusion within the pharmaceutical industry. Generic Approval and Competitive Landscape The company is the first Indian firm to receive approval from the Drugs Controller General of India for generic semaglutide. This approval coincides with India’s opening to generic versions of semaglutide following patent expiry, leading to increased competition among drug manufacturers. Novo Nordisk markets...

Guar Gum Prices Rise on Futures Market New Delhi, March 27 – Guar gum prices increased on Friday, rising by Rs 30 to Rs 10,354 per quintal in futures trading. The rise reflects increased spot demand and heightened speculative activity.Guar Gum Futures Trading On the National Commodity and Derivatives Exchange, guar gum contracts for April delivery saw a rise of Rs 30, or 0.29 percent, to Rs 10,354 per quintal. The open interest for these contracts stood at 40,695 lots. The price closed at Rs 10,324 per quintal in the previous trading session.Analysts attributed the price increase to a firm trend observed in the physical guar gum market, leading to increased speculative positions among traders.

Coriander Futures Prices Rise as Speculators Increase Holdings New Delhi, March 27 – Coriander prices increased on Friday, rising by Rs 30 to Rs 11,966 per quintal in futures trading. The rise was attributed to increased speculative activity following a firm trend in the spot market.Contracts for April delivery on the National Commodity and Derivatives Exchange rose by Rs 30, or 0.25 per cent, to Rs 11,966 per quintal. This represents an increase from Rs 11,936 per quintal in the previous trading session. Market analysts noted that a firm trend in the spot market, coupled with restricted supplies from producing regions, contributed to the price increase.

Cottonseed Oil Cake Prices Rise in Futures Trading New Delhi, March 27 – Prices of cottonseed oil cake saw an increase in futures trading on Friday, with the commodity trading at Rs 3,559 per quintal. This represents a rise of Rs 40 per quintal compared to the previous session’s closing price of Rs 3,519 per quintal.The price movement occurred on the National Commodity and Derivatives Exchange (NCDEX). Cottonseed oil cake for April delivery recorded a gain of Rs 40, or 1.14 percent, during the trading session. The open interest stood at 53,160 lots.Market participants attributed the price increase to heightened demand for cattle feed. The NCDEX remained closed on Thursday due to the observance of Ram Navami.

Copper Prices Rise to Rs 1,151.20 per Kilogram in Futures Trading Domestic Copper Prices Surge New Delhi, March 27 – Copper prices saw a notable increase in futures trading on Friday, closing at Rs 1,151.20 per kilogram. The rise represents a Rs 12.30 increase per kilogram, or 1.08 percent, driven by robust domestic demand and supportive global trends. The trading volume for April delivery on the Multi Commodity Exchange (MCX) reached 9,652 lots. Global Market Influence International markets also contributed to the price increase. Comex copper futures for the May contract rose by 1.14 percent, settling at USD 5.53 per pound. Simultaneously, the London Metal Exchange (LME) reported an appreciation of USD 108.58, or nearly 1 percent...