Business

India Remains Asia Pacific’s Most Cost-Competitive Office Fit-Out Market New Delhi, March 26 – India continues to strengthen its position as the most cost-competitive office fit-out market in the Asia Pacific region, offering global occupiers a compelling combination of cost efficiency, scale, and quality, according to a new report released on Thursday. Fit-out costs across India’s major office markets ranged between $65 and $73 per square foot, significantly lower than key regional markets such as Tokyo ($215), Sydney ($161), and Singapore ($140), according to Cushman & Wakefield’s ‘Asia Pacific Office Fit Out Cost Guide 2026’. This further solidifies India’s position as the most economical destination for delivering high-quality...

India’s Commercial Drone Market Poised for Significant Growth Mumbai, March 26 – India’s commercial drone industry is projected to reach $1.88 billion (₹17,000 crore) in fiscal year 2026, with an anticipated compounded annual growth rate of 17.98 per cent between fiscal years 2025 and 2029, according to a new report.Global Drone Market Landscape Globally, the United States currently leads the commercial drone industry, followed by China. India is presently ranked seventh in the global market, as indicated by a research report from B2K Analytics.Drone Efficiency in Agriculture The report highlights the potential of drones to significantly reduce the cost of agrochemical spraying. Analysis of small and medium-sized drones, costing...

Haryana Vigilance Bureau Arrests Bank Manager in Fixed Deposit Probe Chandigarh, March 26 – The Haryana State Vigilance and Anti-Corruption Bureau has made its first arrest in connection with alleged discrepancies in fixed deposit receipts amounting to nearly Rs 150 crore held by the Panchkula Municipal Corporation at a Kotak Mahindra Bank branch. Investigation Details The State Vigilance and Anti-Corruption Bureau (SVACB) filed an FIR on Tuesday night against unnamed bank officials and others, accusing them of cheating, conspiracy, and other offenses. This followed a decision by the Haryana government to refer the case to the SVACB for a thorough investigation into the discrepancies related to the Fixed Deposit Receipts (FDR) of the...

Seoul Central Bank Warns of Rising Interest Rates Amid Middle East Conflict SEOUL, March 26 – The Bank of Korea (BOK) has issued a warning regarding potential upward pressure on market interest rates due to the escalating conflict in the Middle East. The central bank’s statement, released on Thursday, highlights concerns about rising inflationary pressures and global monetary tightening, according to reports from Yonhap news agency.Escalating Tensions and Market Pressure The BOK’s latest financial stability report cited the ongoing U.S.-Israeli strikes on Iran as a key factor. The conflict has broadened into a regional crisis, prompting concerns about potential disruptions to the energy supply chain. The report stated that if...

South Korean President Urges Energy Savings Amid Middle East Crisis Fuel Price Cap and Electricity Rate Freeze Seoul, March 26 – South Korean President Lee Jae Myung on Thursday called for national cooperation in energy-saving efforts, citing the disruption of global energy markets caused by the ongoing war in the Middle East. The government is preparing to implement another fuel price cap to mitigate the economic impact of the US-Israel conflict with Iran, according to reports from Yonhap news agency.Lee urged gas stations to actively cooperate in setting prices consistent with the intended purpose of the oil price cap system. He stated that exploiting a national crisis for unfair profits through practices like collusion and hoarding...

India Addresses Fuel Supply Concerns, Expands PNG Network New Delhi – The Indian government is taking proactive steps to address concerns regarding petrol and diesel supply while simultaneously accelerating the rollout of piped natural gas (PNG) infrastructure across the country. According to official statements, all retail outlets are operating normally and maintain sufficient stocks to meet national demand.Fuel Supply Stability and Strategic Measures All refineries are operating at full capacity, supported by adequate crude oil inventories. Recent reports indicated some panic buying in localized areas due to misinformation, but authorities have confirmed that retail outlets are operating as usual. The government is prioritizing the...

Brent Crude and WTI Prices Rise Mumbai, March 26 – Global oil prices jumped to above $100 per barrel on Thursday following a statement from Iran indicating it was not in direct negotiations with the United States to end the conflict in the Middle East.Brent crude futures rose by 1.21 percent to $103.46 per barrel, while US West Texas Intermediate (WTI) crude jumped by 1.35 percent to $91.54 per barrel. The price increases reflect ongoing tensions in the region.Iranian Foreign Minister Abbas Araghchi stated that exchanges between Tehran and Washington through intermediaries should not be interpreted as negotiations. Tehran is also likely to reject a ceasefire proposal supported by the United States.Impact on India's Economy Earlier...

Moscow, March 25 Russia is set to redirect its hydrocarbon supplies to Asia amid growing demand, the Russian Energy Minister said on Wednesday, without naming any country, amid the ongoing West Asia crisis and the blockage of the Strait of Hormuz.India and China have been the main importers of Russian sea-based hydrocarbons after the European Union (EU) restricted its imports of crude and natural gas from Moscow due to its invasion of Ukraine, and is set to completely halt it by 2027."We have received numerous requests from Asian countries that were receiving supplies, and supply chains that were disrupted, and we are currently actively working on developing contracts for the supply of energy resources from the Russian Federation,"...

New Delhi, March 25 India has commissioned around 8,000 tonnes per annum of green hydrogen production capacity by February 2026, the Parliament was informed on Wednesday.The government has set a target of 5 Million Metric Tonnes per annum by 2030 under the National Green Hydrogen Mission (NGHM)."Around 8,000 tonnes per annum of green hydrogen production capacity has been commissioned in India by February 2026," said Minister of State for New and Renewable Energy Shripad Naik in a written reply to the Rajya Sabha.He further informed that under the mission, the discovered costs of Green Hydrogen through competitive bidding are Rs 397 per kg (inclusive of 18 per cent GST) for supply to the refinery of Indian Oil Corporation Limited...

New Delhi, March 25 The Centre on Wednesday directed all states to expedite ongoing exploration projects, ensure faster approvals, and improve coordination to significantly reduce the time between exploration and auction, a move aimed at strengthening the nation's critical mineral security amid global supply chain disruptions.Mines Minister G Kishan Reddy also emphasized the need to adopt advanced technologies, including Artificial Intelligence (AI) and Machine Learning, drone-based surveys, and modern beneficiation techniques, to increase efficiency and success rates in mineral discovery.The minister also stressed the greater inclusion of startups, private exploration agencies, and innovation-driven institutions, in line with the...

Chandigarh, March 25 Haryana Chief Minister Nayab Singh Saini met with Russia's Ambassador to India, Denis Alipov, on Wednesday, and highlighted the state's strengths in various sectors, including IT, automobiles, agro-processing, textiles, and manufacturing.The chief minister held detailed discussions aimed at further strengthening bilateral engagement and exploring new avenues of cooperation between Haryana and Russia, according to a statement from the state government.The meeting, which took place at the chief minister's official residence here, began with a general review of the long-standing and trusted partnership between India and Russia, it added."A significant part of the discussions focused on the prospects for expanding...

Panaji, March 25 Goa Chief Minister Pramod Sawant said on Wednesday that there is no shortage of domestic LPG cylinders or petroleum products in the state, urging people not to resort to panic buying.Long queues have been seen outside petrol pumps across the coastal state since last night, following rumors of a shortage of petroleum products.Speaking to reporters here, Sawant said that people should not panic and there is no need to fill their tanks and carry petrol home in cans. He added that the petrol and diesel stocks available in the state are sufficient for 15 days.He also said that there is no shortage of LPG cylinders, adding, "People do not need to buy extra cylinders."He said that the supply of commercial cylinders has...

Rupnagar, March 25 Punjab Agriculture Minister Gurmeet Singh Khudian said on Wednesday that the future of farming lies in innovation and technology adoption, and artificial intelligence is here to empower farmers."Given the rising climate risks, it is now essential to combine knowledge of the land with the power of data," Khudian said while addressing the Smart Agri Summit 2026 held at IIT Ropar here.He congratulated IIT Ropar's Annam.AI, the Centre of Excellence (CoE) in Artificial Intelligence for Agriculture, for deploying such cutting-edge technologies into the real world for the benefit of farmers.Pushpendra Singh, Project Director of Annam.AI, said, "Our focus is on bringing together research, technology, and on-ground...

Raipur, March 25 Chhattisgarh Chief Minister Vishnu Deo Sai transferred ₹495.96 crore digitally into the bank accounts of 4,95,965 beneficiaries under a financial assistance scheme for landless agricultural laborers.The amount was disbursed at an event held in the Balodabazar-Bhatapara district.Addressing the gathering, Sai said that under the 'Pandit Deendayal Upadhyay Bhoomihin Krishi Majdoor Kalyan Yojna,' landless agricultural laborers are being provided financial assistance of ₹10,000 annually to help meet their household needs, support children's education, and promote small businesses.He noted that after a "joyous Holi" for farmers, the ongoing Chaitra Navratri festival has brought a message of prosperity and confidence for...

New Delhi, March 25 State-owned IREDA announced on Wednesday that the company's board has approved an interim dividend of Rs 0.60 per equity share for the financial year 2025-26.IREDA CMD Pradip Kumar Das said that the declaration of interim dividend reflects IREDA’s consistent financial strength and our commitment to delivering long-term value to shareholders.The decision to approve a dividend of Rs 0.60 per share was made by the company's board on Wednesday.*Coal India arm SECL transforms mine water into lifeline for communities, agricultureCoal India-arm South Eastern Coalfields Ltd announced on Wednesday that it has been conferred with the 'Integrated Industrial Water Management & Stewardship Award' under the Water Digest...

New Delhi, March 25 The Enforcement Directorate (ED) said on Wednesday that it has attached fresh immovable assets worth approximately ₹1,700 crore, primarily located in Dubai, including in the iconic Burj Khalifa, belonging to one of the main promoters of the Mahadev App, Sourabh Chandrakar, as part of its investigation into money laundering.The federal investigation agency has said that the case involves several high-ranking politicians and bureaucrats from Chhattisgarh.A provisional order was issued by the Raipur zonal office of the federal agency under the Prevention of Money Laundering Act (PMLA) on Wednesday to attach 18 "high-value" luxury villas and apartments in Dubai Hills Estate, including in Hills View, Fairway Residency...

New Delhi, March 25 Leading airline IndiGo will develop a comprehensive campus on a land parcel of more than 4.5 acres in Gurugram, Haryana, over the next 3-5 years.The airline is headquartered in Gurugram, and the unified campus will bring together the IndiGo Support Centre (ISC) and learning centres, Ifly, under one roof.In an internal message to staff on Wednesday, IndiGo's Group Chief Human Resources Officer Sukhjit S Pasricha said that the airline has secured the right to a 4.5-acre land parcel in Sector 29, Gurugram, and plans to develop a comprehensive campus at the site."This future campus, to be developed over 3-5 years from possession, will bring together our ISC (IndiGo Support Centre), i.e. our headquarters and Ifly...

New Delhi, March 25 Union Minister Ashwini Vaishnaw chaired a meeting of the Parliamentary Consultative Committee of the Ministry of Electronics and Information Technology (Meity) on Wednesday, where discussions focused on issues related to Artificial Intelligence, emerging technologies, and electronics hardware manufacturing.The meeting was also attended by Minister of State for Electronics and Information Technology, Jitin Prasada, members of the consultative committee, IT Secretary S Krishnan, and other senior officials of the Ministry.Senior officials from the Ministry made detailed presentations on the agenda topics, elaborating on key initiatives, their progress, and future roadmap, an official release said.In his opening...

New Delhi, March 25 The Fair Trade Regulator, CCI, approved on Wednesday Mitsubishi UFJ Financial Group Inc (MUFG) Bank's proposal to acquire a stake in Shriram Finance.This development came after MUFG Bank announced in December 2025 that it would acquire a minority stake of 20 per cent in non-bank lender Shriram Finance for ₹39,618 crore (around USD 4.4 billion), marking the largest cross-border investment in India's financial sector to date."The Commission approves the acquisition of certain shares in Shriram Finance Limited (target) by MUFG Bank Ltd (acquirer)," the regulator said in a release.MUFG Bank is a banking institution and is part of Mitsubishi UFJ Financial Group. In India, MUFG Bank provides corporate banking loans...

New Delhi, March 25 Following a rebound in the stock market, investors' wealth has surged by ₹15.80 lakh crore in two days, driven by a sharp decline in crude oil prices and hopes of de-escalation in the West Asia conflict.Stock markets have been rallying for the past two trading days, with the BSE Sensex climbing 2,577.06 points or 3.54 percent. On Wednesday, the 30-share BSE benchmark jumped 1,205 points or 1.63 percent to close at 75,273.45.Thanks to optimism among investors, the market capitalization of BSE-listed companies rose to ₹4,31,01,834.74 crore (USD 4.59 trillion) from ₹4,31,01,834.74 crore in two days."Indian equities extended their recovery for the second consecutive session, supported by improving global cues and...