Business

India Charts Course for Global Electronics Manufacturing Hub, Driven by Energy Sovereignty India’s Rapid Transition to Renewable Energy Fuels Manufacturing Boom New Delhi, March 26 – India is strategically positioning itself as a global hub for the manufacturing of electronic and electrical equipment, driven by a commitment to energy sovereignty, according to a report by the World Economic Forum (WEF). The report highlights India’s accelerated journey towards a superior energy future, attracting attention from other emerging markets.India is pursuing an industrialization strategy based on affordable solar and battery technologies, bypassing the fossil fuel-dependent path taken by Western nations and China. In 2012, China had...

Investors to Benefit from Joint Sebi-IEPFA Summit in Bhubaneswar Investor Summit to Address Unpaid Dividends and Unclaimed Shares Bhubaneswar, March 26 – The Securities and Exchange Board of India (SEBI) and the Investor Education and Protection Fund Authority (IEPFA) will jointly host the sixth “Investor Summit” in Bhubaneswar on March 27. The event aims to assist investors in resolving issues related to unpaid dividends and unclaimed shares.The summit will be held in collaboration with Market Infrastructure Institutions (MIIs) and the Registrar and Transfer Agents (RTAs) involved. Participating MIIs include the Bombay Stock Exchange (BSE), the National Stock Exchange (NSE), CDSL, and NSDL. Registrar and Transfer Agents (RTAs) such...

Prosus and Accel Launch Inaugural Atoms X LeapTech Cohort Bengaluru, March 26 – Global technology company Prosus and venture capital firm Accel have announced the six startups selected for the inaugural Atoms X LeapTech cohort, a joint initiative designed to support founders in building pioneering companies from day one.Six Startups Selected for LeapTech Program The cohort was chosen from over 2,000 applications, according to a statement released on Wednesday. The program’s focus is on LeapTech – innovations combining scientific breakthroughs, market opportunities, and engineering ambition to deliver significant impact.The selected companies are Praan, QOSMIC, Dognosis, Ethereal Exploration Guild, Ferra, and one startup operating in...

Rooppur Nuclear Power Plant Fuel Loading Marks Critical Milestone for Bangladesh New Delhi, March 26 – Bangladesh is poised to achieve a significant energy milestone as fuel loading is scheduled to begin at the Rooppur Nuclear Power Plant on April 7, marking the commencement of electricity generation from the reactor. The project, a joint venture between Bangladesh and Russia, represents a complex undertaking demanding the highest standards of safety and technical expertise.Safety and Oversight Concerns Raised Experts are emphasizing the critical importance of safety protocols and oversight within the project. Dr. Kamrul Hassan Mamun, a Physics Professor at Dhaka University, highlighted the potential consequences of even minor lapses...

E-Commerce and Quick Commerce Hiring Surge by 35% in Two Years New Delhi, March 26 – Hiring in India’s e-commerce and quick commerce sectors has experienced a significant increase, growing by 35 percent over the last two years, according to a new report released on Thursday. Companies are increasingly prioritizing technology and operational execution capabilities.Hiring Demand Reaches Nearly 100,000 Roles The total hiring demand in the sector has risen substantially. Data from CIEL HR indicates approximately 98,750 roles are projected to be filled by 2025, compared to 73,320 in 2023.Shift Towards Capability Building The growth reflects a structural shift in hiring practices. E-commerce companies are moving beyond expansion-focused...

Air India A350 Returns to Delhi After Technical Issue Over Air New Delhi, March 26 – Air India’s A350 aircraft, VT-JRF, en route to London Heathrow, returned to the national capital on Thursday afternoon after being airborne for nearly seven hours due to a technical issue.Aircraft Details and Previous Incident The same A350-900 aircraft, VT-JRF, had experienced a technical issue on March 15, following which the flight from New York to Delhi was diverted to the Irish town of Shannon, sources indicated.Thursday’s Return Air India’s flight AI111, operating from Delhi to London on Thursday, made a precautionary air return to the national capital following a suspected technical issue. The spokesperson stated that the aircraft landed...

Pentathlon Ventures Closes Second Fund at Rs 255 Crore Second Fund Focuses on B2B Technology Startups New Delhi, March 26 – Early-stage venture capital firm Pentathlon Ventures announced the final close of its second fund at Rs 255 crore. The fund will be deployed to support B2B technology startups. The firm plans to invest in 16-20 seed-stage startups, concentrating on India-based founders building solutions for global markets.Sector FocusEnterprise AI TransformationFintechHealthtechCybersecurityLogisticsManufacturingB2B Deep TechHardware-led InnovationFund II will expand Pentathlon’s investment scope to include these sectors. The capital was raised through investments from a group of family offices...

Health Insurance Sector Sees Strong Growth, Premium Revenue Exceeds Rs 1.2 Lakh Crore Premium Growth and Market Expansion India’s health insurance sector has experienced significant growth, with total premiums exceeding Rs 1.2 lakh crore in 2024-25, according to the government. The sector continues to expand steadily, growing at approximately 9 per cent annually. This growth is fueled by increasing awareness of health insurance, improved access to healthcare financing, and a growing need for financial protection against medical expenses.Streamlined Claims Processing To enhance efficiency and expedite support for policyholders, the Insurance Regulatory and Development Authority of India (IRDAI) has implemented strict timelines for...

Gurugram Real Estate Firm Faces Fraud Charges in Money Laundering Probe Gurugram, March 26 – The Economic Offences Wing of the Delhi Police has filed an FIR against Gurugram-based real estate firm Experion Developers Private Limited and its related entity Experion Capital Private Limited for fraud. The filing comes following a complaint from the Enforcement Directorate, according to an official statement released on Thursday.The investigation stems from the ED’s ongoing money laundering case against Religare Finvest Limited (RFL). The ED’s investigation revealed that former Religare Finvest promoters, Malvinder Mohan Singh and Shivinder Mohan Singh, diverted approximately Rs 2,036 crore from RFL through entities controlled by them...

Nayara Energy Raises Petrol and Diesel Prices by Rs 5, Rs 3 Respectively New Delhi, March 26 – Nayara Energy, India’s largest private fuel retailer, announced a price increase of Rs 5 per litre for petrol and Rs 3 per litre for diesel on Thursday, citing the recent surge in global oil prices following the conflict in the Middle East. The move reflects mounting pressure on private fuel marketing companies as retail prices have remained frozen despite a near 50 per cent rise in international crude costs since February 28, when the United States and Israel launched military strikes against Iran. Private Retailers Respond to Global Oil Price Surge Fuel marketing companies in India have faced significant challenges as petrol and diesel...

Nokia Announces Key Leadership Changes in India New Leadership Appointments Drive Strategic Growth New Delhi, March 26 – Nokia has announced key leadership changes in India, effective April 1, appointing Samar Mittal as India Country Business Leader and Vibha Mehra as India Country Manager.RoleLeaderIndia Country Business LeaderSamar MittalIndia Country ManagerVibha MehraThe changes are part of Nokia’s renewed strategy to strengthen its presence and sharpen its business focus within the Indian market. Samar Mittal will lead Nokia’s business strategy in India, concentrating on expanding partnerships with telecom operators, alongside players in artificial intelligence, cloud services, and critical enterprise sectors. He will...

WazirX Launches Flat-Fee Subscription Model for Crypto Trading New Delhi, March 26 – Crypto exchange WazirX has introduced a new flat-fee subscription model as part of its platform relaunch, aiming to reduce trading costs for retail investors amid growing digital asset adoption in India. New ‘ZERO’ Plan Reduces Trading Costs The platform’s ‘ZERO’ plan replaces traditional percentage-based brokerage fees with a fixed monthly charge of Rs 99. This allows users to execute unlimited trades for zero-fee across more than 300 tokens. Addressing Traditional Trading Costs Traditionally, crypto exchanges charge users up to 0.5 per cent per transaction. This can accumulate significantly for frequent traders. For example, a user trading Rs 10,000...

India’s Credit Growth Surges 61% in FY26, Driven by Retail and MSMEs Strong Demand Fuels Credit Expansion New Delhi, March 26 – India’s credit growth experienced a significant surge in fiscal year 2026, increasing by 61 per cent, according to a new report released on Thursday. The growth was primarily fueled by robust demand from retail borrowers and micro, small, and medium enterprises (MSMEs).Total credit flows reached Rs 25.1 lakh crore, nearly matching deposit mobilization of Rs 26.1 lakh crore, as reported by Yes Bank.Key Growth Drivers The report identified strong demand across retail, MSME, and infrastructure sectors as the primary drivers of this accelerated growth. Retail loans continue to dominate, with personal loans...

Chhattisgarh Caps Commercial LPG Supply Amid Supply Concerns Raipur, March 26 – The Chhattisgarh government has implemented measures to manage LPG supply following concerns related to the West Asia conflict. A cap has been placed on the supply of commercial LPG cylinders, with a directive for streamlined online refill booking for domestic consumers.Supply Restrictions and Prioritization The state government has capped commercial LPG cylinder supplies at 20 percent of the previous month’s consumption. Officials stated that priority categories for LPG supply have been identified, including educational institutions, hospitals, military and paramilitary camps, jails, hotels, social welfare institutions, railway and airport canteens...

West Asia Crisis Drives Up Freight Costs, Halts Kolkata Port Exports Kolkata, March 26 – The ongoing West Asia crisis has significantly impacted cargo shipments to Europe, with freight costs surging by 60 to 80 percent. This increase has coincided with a substantial decline in exports, with some exporters reporting reductions of up to 50 percent.Hundreds of containers remain stranded at the Kolkata port, according to industry representatives.Calcutta Customs House Agents Association (CCHAA) president Mannu Choudhary stated that the situation is creating significant challenges for businesses reliant on European markets. Details regarding the CCHAA president’s full statement were not immediately available.

India’s Housing Affordability Set to Stabilize by 2028, Report Finds New Delhi, March 26 – Homebuyers in India may find the market becoming more accessible in the coming years, according to a new report released Thursday. The report by CBRE South Asia Private Limited projects a stabilization of housing affordability between 2026 and 2028, offering potential relief to those struggling with rising property prices and loan costs.Affordability Shift Expected The consultancy’s India Residential Market Outlook 2026 indicates that household income growth is now expected to outpace property price increases for the first time since 2021. This shift is anticipated to ease the financial burden of home loans for a wider range of buyers across...

South Korea to Extend Fuel Tax Cuts Amid Middle East Conflict Seoul, March 26 – South Korea will significantly expand its temporary fuel tax cut to alleviate financial pressures on consumers due to the ongoing situation in the Middle East, the finance ministry announced Thursday.The current tax reductions – 7 percent on gasoline and 10 percent on diesel – will be increased to 15 percent and 25 percent, respectively, according to Yonhap news agency. The measure, initially slated to expire in April, will now remain in effect through the end of May.As a result, fuel taxes per liter, including value-added tax, will decrease by 65 won to 698 won for gasoline and by 87 won to 436 won for diesel. The decision aims to ease the burden of...

Office Space Demand Strong in India’s Major Cities, Reports Colliers India India’s Office Market Sees 15 Percent Growth in Gross Leasing New Delhi, March 26 – Demand for office space remained robust across India’s major cities during the first quarter of 2024, according to Colliers India. Gross leasing of workspace increased by 15 percent to 18.3 million sq ft across seven key cities – Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai, and Pune – compared to 15.9 million sq ft in the same period last year.The growth was attributed to strengthening occupier demand across various sectors and the expansion of Global Capability Centres (GCCs).Here’s a breakdown of leasing activity by city:Bengaluru: Office leasing increased by...

Major Investment Push Driven by Government Efforts Hyderabad, March 26 – The Telangana government has secured significant investment commitments following Chief Minister A Revanth Reddy’s participation in the World Economic Forum in 2024 and 2025. According to State Minister for Industries Sridhar Babu, the state has finalized 44 Memoranda of Understanding (MoUs) representing investment proposals totaling Rs 2.19 lakh crore. The investment proposals are currently undergoing various stages of implementation. The government has also reported revenue generation of Rs 1,540 crore through land allocations related to these MoUs.Investment DetailsAmount (Rs)Total Investment Proposals2,19,000 croreRevenue Generated (Land...

ICAI Singapore Chapter Plans to Strengthen Regional Collaboration Singapore, March 26 – The Singapore Chapter of the Institute of Chartered Accountants of India (ICAI) is focused on expanding regional collaboration and strengthening ties with professional bodies across ASEAN. Sanjay Gattani, the newly elected chairman, outlined these plans on Thursday.The Singapore ICAI Chapter serves as a regional office, supporting bilateral relations across the Asia Pacific. The ICAI also maintains chapters in Thailand, Indonesia, Vietnam, the Philippines, and Cambodia, functioning as points of contact for members and facilitating coordination with national bodies within the ASEAN region.“We need to strengthen regional collaboration by building...