Business

India and Canada Set to Finalize Terms of Reference for Free Trade Agreement Talks FTA Negotiations Likely to Resume This Week India and Canada are poised to take a significant step toward strengthening bilateral economic ties, with both sides expected to finalize the Terms of Reference for a proposed Free Trade Agreement later this week. Commerce and Industry Minister Piyush Goyal confirmed on Tuesday that discussions are progressing and an official launch of negotiations could follow shortly.Canadian Prime Minister Mark Carney is scheduled to arrive in India on February 26. During his visit, the two nations aim to conclude the Terms of Reference, which will define the scope, structure, and modalities of the proposed trade pact...

American Express India Partners Magic Bus to Train 3,000 Youth in Digital and Employability Skills Three-Year Initiative to Boost Job Readiness in Bengaluru and Delhi-NCR New Delhi, February 24: American Express India on Tuesday announced a three-year partnership with Magic Bus India Foundation to equip young people with employability and digital skills, helping them navigate an increasingly competitive and technology-driven economy.Under the initiative, nearly 3,000 young people across Bengaluru and Delhi-NCR will receive industry-relevant technical training along with essential life skills aimed at strengthening their employment prospects.Focus on Cloud, AI and Cybersecurity Training The program provides structured job-readiness...

BharatBenz Expands Eastern India Footprint with New Raniganj Dealership Daimler India Commercial Vehicles, a subsidiary of Daimler AG, has inaugurated a new BharatBenz dealership in Raniganj, West Bengal, strengthening its presence in the eastern region of the country.The new dealership, named Agile Trucking, marks a strategic expansion for the BharatBenz brand as it deepens its service and sales network in key freight corridors.85,000 Sq Ft Facility to Serve Eastern India Market Spread across 85,000 square feet, the Raniganj facility is equipped to handle comprehensive customer needs, including vehicle sales, after-sales service, and spare parts support.Staffed by 65 trained personnel, the dealership has the capacity to service...

Amitabh Kant Calls for Multilingual AI to Unlock True Potential at ‘Smarter Than the Storm’ Launch AI Must Be Multilingual to Deliver Real Impact, Says Amitabh Kant Former Amitabh Kant, ex-CEO of NITI Aayog, said on Tuesday that the full potential of artificial intelligence will only be realised when it becomes multilingual and capable of understanding and communicating across local and international languages.Speaking to the media on the sidelines of the launch of his book Smarter Than the Storm, Kant underlined that linguistic diversity is central to making AI truly inclusive and impactful. He stressed that India’s ambition is to lead from the front in emerging technologies as the global digital landscape evolves.Focus on AI...

India to Resume US Trade Talks After Tariff Clarity, Says Piyush Goyal Trade Negotiations With US Put on Hold Amid Tariff Uncertainty New Delhi, February 24: Commerce and Industry Minister Piyush Goyal said on Tuesday that India will resume trade talks with the United States as soon as there is greater clarity on the tariff situation in the US.Responding to a question on the timeline for restarting negotiations, Goyal said discussions would move forward “as soon as there is more clarity” regarding tariffs.Earlier, on February 22, India and the US mutually agreed to reschedule a proposed meeting between their chief negotiators. The meeting, originally planned to be held in Washington this week, was aimed at finalising the text for an...

WTO Sets Up Dispute Panel After China Challenges India’s PLI Schemes in Auto and Renewable Sectors China Escalates Trade Dispute Over India’s Incentive Measures New Delhi, February 24: The World Trade Organization has established a dispute settlement panel following a complaint by China against India’s measures in the automotive and renewable energy sectors. The move comes after bilateral consultations between the two countries failed to resolve the matter under the WTO framework.According to an official in Geneva, the WTO’s Dispute Settlement Body agreed to set up the panel at China’s second request. The panel will examine specific Indian measures related to the automotive and renewable energy industries.Allegations Against India’s...

AMD to Deploy Up to 6 Gigawatts of Instinct GPUs for Meta’s Expanding AI Operations New Delhi, February 24: Advanced Micro Devices and Meta Platforms have announced a major multi year partnership to build the next generation of artificial intelligence infrastructure, marking a significant expansion of their existing strategic collaboration.Under the agreement, AMD will deploy up to six gigawatts of its AMD Instinct GPUs to power Meta’s growing AI operations. The companies said the deal aligns their roadmaps across silicon, systems, and software, with the objective of delivering AI platforms specifically tailored to Meta’s large scale workloads.First Phase to Begin in Second Half of 2026 The initial phase of deployment will involve a...

Board Meeting at Bombay House Signals Governance Discussions Within Tata Group Mumbai, February 24: The board of Tata Sons on Monday postponed a decision on the reappointment of Natarajan Chandrasekaran for a third term as Chairman, according to sources, pointing to ongoing discussions within the apex holding company of the diversified conglomerate.Chandrasekaran’s current term runs until February 2027. The board had convened at Bombay House to deliberate on extending his tenure when concerns were raised, leading to a deferral of the proposal.Noel Tata Sets Conditions for Reappointment Sources said Noel Tata, who chairs Tata Trusts and represents the principal shareholder that owns roughly two thirds of Tata Sons, placed certain...

The Indian rupee traded in a tight range on Tuesday before settling 6 paise lower at 90.95 against the US dollar, weighed down by a stronger greenback, rising crude oil prices, and weakness in domestic equity markets.The local currency had closed at 90.89 on Monday after gaining 5 paise in the previous session.Narrow Trading Band Amid Possible RBI Intervention At the interbank foreign exchange market, the rupee opened at 90.91 and moved within a narrow band of 90.91 to 90.97 during the day. It finally ended the session at 90.95, down 6 paise from its previous close.Forex traders indicated that the limited movement suggested possible intervention by the Reserve Bank of India to prevent excessive volatility. The rupee hovered near...

First Round of India Israel FTA Negotiations Underway Till February 26 The first round of negotiations for the proposed India Israel Free Trade Agreement has commenced in New Delhi and will continue until February 26, the Ministry of Commerce and Industry said on Tuesday.The talks coincide with Prime Minister Narendra Modi’s visit to Israel on February 25 and 26, a timing the ministry described as providing renewed momentum to deepen economic engagement between the two countries.The Terms of Reference for the agreement were signed in November 2025, establishing a structured framework to guide discussions on expanding trade and strengthening economic cooperation.FTA Expected to Provide Certainty for Businesses, Including MSMEs...

Government Targets Doubling of Food Processing Capacity in 6 to 7 Years, Says Food Processing Secretary India Aims to Raise Agricultural Processing from 12–13% to Nearly Double New Delhi, February 24: The government has set an ambitious target to double India’s food processing capacity over the next six to seven years, according to a senior official from the Ministry of Food Processing Industries.Secretary in the Ministry of Food Processing Industries, Avinash Joshi, said that India currently processes only 12 to 13 per cent of its agricultural produce. The aim is to significantly expand this capacity within the next six to seven years.“Today, we process around 12 to 13 per cent of our agricultural products, and we are targeting...

Joint Statement Signed in New Delhi to Resume Long-Pending FTA Talks New Delhi, February 24: India and the six-nation Gulf Cooperation Council have formally launched negotiations for a proposed Free Trade Agreement, marking a renewed push to deepen economic ties between the two regions.A joint statement was signed in New Delhi by Commerce and Industry Minister Piyush Goyal and the visiting Secretary General of the GCC, Jasem Mohammad Al Budaiwi. The Commerce Ministry confirmed that the joint statement formally initiates negotiations for a comprehensive and mutually beneficial India GCC FTA.The launch represents a resumption of earlier efforts, as previous rounds of negotiations were held in 2006 and 2008. The third round did not...

High-Level Delegation Engages with SEBI Leadership in Mumbai Mumbai, February 24: A high-level delegation led by Luxembourg Finance Minister Gilles Roth met with Securities and Exchange Board of India Chairman Tuhin Kanta Pandey to discuss matters of mutual interest and deepen cooperation between the financial sectors of the two countries.The meeting, held in Mumbai on Tuesday, was attended by senior officials from both sides. SEBI shared details of the interaction in a post on X, confirming that the discussions centered on strengthening regulatory engagement and collaboration.Senior Luxembourg Officials Participate in Discussions The visiting delegation comprised Christian Biever, Ambassador of the Grand Duchy of Luxembourg to...

Noel Tata Seeks Key Assurances Before Backing N Chandrasekaran’s Reappointment at Tata Sons In a significant development within the Tata Group, Noel Tata is believed to have sought firm commitments on three critical conditions before extending his support for the reappointment of N Chandrasekaran as Chairman of Tata Sons for another five-year term, sources told.The move comes amid renewed discussions around leadership continuity at the holding company of the diversified conglomerate.No Listing of Tata Sons According to sources, Noel Tata insisted that Tata Sons should not be listed, reinforcing a preference to maintain its closely-held ownership structure.The question of a potential listing has been debated in recent years...

KEC International Secures ₹1,002 Crore Orders, Strengthens T&D Order Book Fresh Orders Across Transmission, Substations and Cables Segments New Delhi, February 24: KEC International, a flagship company of RPG Group, announced on Tuesday that it has secured new orders worth ₹1,002 crore across multiple business verticals, further reinforcing its position in the infrastructure EPC space.The newly won contracts span transmission and distribution, along with cables and conductors, adding significant momentum to the company’s order inflows for the year.Transmission and Distribution Business Drives Order Wins The company’s Transmission and Distribution business has secured a composite order in India covering 220/132 kV transmission lines...

Bengal-Based Startup Targets Enterprise Expansion and Go-To-Market Partnerships Mumbai, February 24: Kris@Work, a Bengal-based startup, on Tuesday announced that it has secured $3 million in seed funding to accelerate its expansion plans, strengthen business partnerships, and deepen enterprise adoption of its AI-native Go-To-Market execution platform.The seed funding round was led by Infoedge Ventures, with participation from JN Capital & Growth Advisory and several angel investors, the company said in a statement.AI-Native GTM Execution Platform Gains Cross-Industry Adoption Kris@Work operates an AI-native Go-To-Market execution platform designed to address complex GTM processes and fragmented technology stacks. The platform is...

New Delhi, February 24: State-owned Canara Bank on Tuesday announced plans to tap the Tier 2 bond market with a ₹5,000 crore fundraising initiative aimed at strengthening its capital base and supporting future growth.Tier 2 Bond Issue Scheduled on NSE Platform The proposed bond issue is scheduled for February 26 and will be conducted on the Electronic Bidding Platform of the National Stock Exchange, according to a statement issued by the bank.Canara Bank intends to raise funds through Basel III-compliant Tier 2 bonds, reinforcing its capital structure in line with regulatory norms.Structure of the ₹5,000 Crore Fundraising Plan The fundraising plan comprises:Base Issue: ₹2,000 crore Green Shoe Option: Up to ₹3,000 croreThe...

Comprehensive Transport Solutions Planned for Seamless Passenger Connectivity Noida, February 24: Noida International Airport announced on Tuesday that it has selected Mann Fleet Partners Limited as its mobility services partner to deliver comprehensive ground transportation solutions for passengers.The airport said the partnership is aimed at ensuring seamless and efficient connectivity to and from the upcoming airport through an integrated range of transport services.Under the agreement, Mann Fleet Partners Limited will provide car rental services, premium pick-up and drop-off facilities at arrival and departure curbs to reduce walking distances, and operate, manage, and maintain bus shuttle services within the airport campus...

IDFC First Bank Pays ₹583 Crore to Haryana Government After ₹590 Crore Fraud at Chandigarh Branch Bank Clears Principal and Interest Amid Ongoing Investigation New Delhi, February 24: IDFC First Bank has paid ₹583 crore to the relevant departments of the Haryana government, covering 100 percent of the principal and interest claimed in connection with a recently disclosed fraud case.In a regulatory filing on Tuesday, the private sector lender confirmed that despite the ongoing investigation, it has settled the full amount owed. The net payout of ₹583 crore includes both the principal and applicable interest.The bank stated that it remains committed to cooperating with Haryana government departments and law enforcement agencies to...

The Indian aviation industry is expected to see a significant reduction in losses in FY2026 to 2027, even as the sector continues to face operational and cost-related pressures, according to ICRA. The ratings agency has maintained a stable outlook on the domestic aviation industry, supported by improving operating conditions and steady passenger growth.Losses to Decline to ₹11,000 to 12,000 Crore in FY27 ICRA estimates that Indian airlines will report a net loss of ₹17,000 to 18,000 crore in FY2025 to 2026, sharply higher than the estimated ₹5,500 crore loss in FY2024 to 2025.However, losses are projected to narrow to ₹11,000 to 12,000 crore in FY2026 to 2027. The improvement is expected to be driven by growth in domestic air...