Business

Amazon Sees India as Long-Term Growth Market, Expands Zero Referral Fee Coverage New Delhi, March 22: Amazon continues to position India as a key long-term investment destination, highlighting that the country’s e-commerce sector remains in its early stages with significant headroom for expansion. The company pointed to strong macroeconomic fundamentals and positive consumer sentiment as key drivers supporting future growth.Strong Seller Response to Expanded Zero Referral Fee Initiative Abhinav Singh, Vice President of Operations for India and Australia at Amazon, said the company has received an encouraging response from sellers following its decision to expand its zero referral fee program. The initiative now covers 12.5 crore...

Tata Capital Receives ₹413 Crore Tax Reassessment Order for FY18, Plans Rectification Appeal Tax Demand Includes ₹202.72 Crore Interest Component Mumbai, March 22: Tata Capital has disclosed that it has received a tax reassessment order amounting to ₹413.18 crore from the Mumbai tax authority for the financial year 2017-18. The company stated that it will initiate steps to file a rectification appeal against the order.According to the company, the reassessment order was issued on March 20, 2026, and was accessed a day later. The order has been passed by the Deputy Commissioner of Income Tax under Section 143(3) read with Section 147 of the Income Tax Act.Reassessment Linked to Merged Entity The reassessment pertains to Tata Capital...

Air India Faces Mounting Disruptions as Middle East Conflict Impacts Operations and Costs Flight Cancellations and Reduced Middle East Operations Mumbai/New Delhi, March 22: Air India Group is witnessing a significant operational and financial impact due to the ongoing Middle East conflict, with CEO Campbell Wilson stating that the full extent of the financial hit is still unfolding.Since the conflict involving the US, Israel, and Iran began on February 28, Air India and Air India Express have cancelled around 2,500 flights to the region. Currently, the airline is operating only about 30 percent of its normal Middle East schedule, as several airports and airspace routes remain closed or fall outside safety thresholds.Longer Routes...

Indian Companies Lead Global AI Adoption Surge Despite Skills Gap: Deloitte Report Large-Scale AI Deployment Gains Momentum Across Key Business Functions New Delhi, March 22 Indian companies are outpacing their global counterparts in adopting Artificial Intelligence at scale, with a growing number of organizations moving beyond pilot projects to full-scale implementation, according to Deloitte’s latest report.The report titled State of AI in the Enterprise 2026 highlights that Indian firms are leading in integrating AI across critical business functions. Large-scale deployment is most prominent in product development at 62 per cent, followed by strategy and operations at 56 per cent, marketing and sales at 55 per cent, and supply...

AC Manufacturers Turn Cautious as Unseasonal Rains, Rising Costs Threaten Summer Demand Weather Disruptions Cloud Early Summer Sales Outlook New Delhi, March 22: Air conditioner manufacturers in India are adopting a cautious stance after unseasonal rainfall, driven by western disturbances, swept across several parts of the country, potentially disrupting early summer demand that typically drives strong sales in March.The cooling products segment usually witnesses a demand surge during this period. However, the unexpected weather pattern has created uncertainty among manufacturers. Despite this, industry executives remain optimistic about a temperature rise in April, which could revive demand.Kamal Nandi, Business Head and EVP of...

India Takes Swift Measures to Counter Middle East Crisis Impact, Says CII Government and Industry Coordinate to Safeguard Economy New Delhi, March 22: India is implementing swift and balanced measures to manage the economic impact of the ongoing Middle East conflict, with close coordination between the government and industry to protect supply chains, energy security, and overall economic stability, the Confederation of Indian Industry (CII) said on Sunday.CII Director General Chandrajit Banerjee stated that India entered this period of global uncertainty from a position of strength, supported by years of economic reforms and policy initiatives.Economic Reforms Strengthen India’s Resilience Banerjee highlighted that the government’s...

TMC Wage Hike Promise for Tea Workers Faces Industry Concerns in West Bengal Stakeholders Urge Consultative Approach Amid Financial Stress in Tea Sector Kolkata, March 22: The All India Trinamool Congress (TMC)’s proposal to increase the minimum daily wage of tea garden workers to Rs 300 has received a cautious response from industry stakeholders, who stress the need for a structured and consultative approach before implementing any revision.TMC Manifesto Focuses on Wage Hike and Welfare Measures In its election manifesto for the West Bengal assembly polls, the ruling party has pledged to raise the daily wage of tea garden workers from Rs 250 to Rs 300. Alongside the wage revision, the party has also promised to extend the exemption...

Over Half of Countries Ban Phones in Schools as UNESCO Flags Social Media Risks Among Teenagers Global School Phone Bans Rise Sharply Amid Classroom and Safety Concerns New Delhi, March 22: More than half of countries worldwide have now implemented bans on mobile phones in schools, according to findings from UNESCO’s Global Education Monitoring (GEM) team, reflecting growing concerns over declining classroom attention and rising cases of cyberbullying.The GEM team reported that 114 education systems currently enforce national-level restrictions on phone usage in schools, accounting for 58 per cent of countries globally. The increase has been rapid over a short period.Less than 24 per cent of countries had such bans in place in June...

Indian Stock Market Outlook: West Asia Tensions, Crude Oil Prices to Drive Investor Sentiment This Week Holiday-Shortened Week Keeps Markets on Edge New Delhi, March 22: Developments surrounding the ongoing West Asia conflict and fluctuations in crude oil prices are set to remain the primary drivers of investor sentiment in the Indian stock market during the upcoming holiday-shortened week, analysts said.Trading activity will be limited as markets remain closed on Thursday on account of Shri Ram Navami, adding to cautious participation among investors.Key Global and Domestic Triggers in Focus Apart from geopolitical developments, several external and domestic factors are expected to shape market direction. These include trends in...

India-Nigeria Digital Partnership Gains Momentum with Focus on E-Governance, Education and Job Creation MoUs on Digital Technology Open New Opportunities for Nigeria New Delhi, March 22: India’s agreements with Nigeria on sharing digital technology are emerging as a significant step toward enabling the African nation to replicate large-scale digital transformation in public services, education, and employment generation.The Memorandums of Understanding were signed in New Delhi between Nigeria’s Minister of Communications, Innovation and Digital Economy, Bosun Tijani, and Indian counterparts. The agreements include two key frameworks, one with the Ministry of Electronics and Information Technology and another with Central Square...

NCLAT Grants CSR Exemption to IL&FS Red and Amber Companies Amid Debt Resolution Tribunal Relief Covers Around 50 IL&FS Entities Under Moratorium New Delhi, March 22: The National Company Law Appellate Tribunal (NCLAT) has granted relief to IL&FS Group companies classified under the ‘red’ and ‘amber’ categories by exempting them from corporate social responsibility (CSR) obligations. The decision comes in view of accounting distortions caused by accrued interest expenses on their loans.The order is expected to benefit nearly 50 such entities that fall under the protection of the moratorium imposed by the NCLAT through its October 15, 2018 directive.Notional Profits Triggered CSR Compliance Requirement These ‘red’ and ‘amber’...

Sri Lanka Urges Public to Conserve Fuel and Electricity Amid Price Hikes and Global Oil VolatilityColombo, March 22 – The Sri Lankan government has urged citizens to use fuel and electricity sparingly due to potential shortages amid volatile global oil markets. This advisory follows a second fuel retail price increase in a week, bringing prices back to levels seen during the 2022 economic crisis.As a conservation measure, fuel distribution is being rationed through QR codes issued for each vehicle. Government spokesman and minister Nalinda Jayatissa emphasized mindful energy consumption and warned against fuel hoarding, seeking public cooperation in reporting such attempts.The price adjustments are linked to disruptions in global...

Mumbai, March 22 – HDFC Bank emerged as the biggest loser among India’s top companies last week, with its market capitalization dropping over Rs 56,000 crore, even as broader equity markets remained largely flat.India’s stock markets experienced a cautious week, with five of the top 10 most-valued companies collectively losing more than Rs 1 lakh crore in market capitalization.The sharpest decline was seen in HDFC Bank, whose valuation fell by Rs 56,124.48 crore to Rs 12,01,267.28 crore.Market sentiment remained muted, with the BSE Sensex slipping 30.96 points (0.04%) and the NSE Nifty declining 36.6 points (0.15%) during the week.Ajit Mishra, SVP (Research) at Religare Broking Ltd, noted that the market ended the week on a flat...

Indian Stock Market Ends Week Flat Amid Global Uncertainty; Crude Oil, Geopolitics in Focus Mumbai, March 22: The Indian stock market closed the week on a cautious note, with benchmark indices Nifty and Sensex ending largely flat as global uncertainties weighed on investor sentiment. Rising geopolitical tensions, fluctuations in crude oil prices, currency pressures, and movements in precious metals are expected to guide market direction in the coming days.Benchmark Indices Show Marginal Decline After a positive start to the week, the market lost momentum following a sharp sell-off on Thursday, which erased most of the earlier gains. Friday’s session remained volatile, reflecting investor caution.The Nifty slipped 0.16 per cent to...

India Urea Production Hit as LNG Disruptions Force Plants to Run at Half Capacity New Delhi, March 22: India’s urea production has taken a hit as fertiliser plants across the country are operating at nearly half their capacity following disruptions in liquefied natural gas (LNG) supplies through the Strait of Hormuz, according to industry sources.LNG Supply Disruptions Trigger Force Majeure Petronet LNG Ltd, which runs India’s largest LNG receiving terminal, has declared force majeure after upstream suppliers reported their inability to deliver contracted LNG volumes. The disruption stems from cargo movement challenges through the Strait of Hormuz amid rising tensions in West Asia.Gas Supply Cuts Impact Fertiliser Units The...

Indian Airlines Continue Limited Flight Operations Amid Middle East TensionsNew Delhi, March 22: In response to the evolving situation in the Middle East, Indian airlines have announced continued but limited flight operations for March 22, urging passengers to stay alert for any last-minute changes.Low-cost carrier IndiGo confirmed it will operate selected flights on Sunday, advising travelers to check their flight status before heading to the airport.In a post on social media platform X, the airline said its teams are working around the clock to assist passengers during this uncertain period.The airline emphasized its commitment to ensuring a safe and seamless travel experience, with all decisions guided by the well-being of...

Foreign Investors Withdraw $9.6 Billion from Indian Equities Amid Global UncertaintyNew Delhi, March 22: Foreign investors have pulled out around USD 9.6 billion (₹88,180 crore) from Indian equities in March, driven by escalating Middle East tensions, a weakening rupee, and concerns over the impact of high crude oil prices on India's growth and corporate earnings.This sharp sell-off follows a strong February rebound, when foreign portfolio investors (FPIs) injected ₹22,615 crore—the highest monthly inflow in 17 months, according to NSDL data. With March outflows, total FPI withdrawals in 2026 have already exceeded ₹1 lakh crore.So far this month (up to March 20), FPIs have been net sellers on every trading day, offloading ₹88,180...

New Delhi, March 22 — As tensions escalate in the Middle East and global crude oil prices trend upward, the All India Distillers’ Association (AIDA) has proposed increasing ethanol blending in petrol beyond the current 20% level. The industry body says this step could significantly reduce India’s reliance on imported crude oil.In a letter addressed to Union Minister for Road Transport and Highways Nitin Gadkari, AIDA Deputy Director General Bharati Balaji stated that the ethanol sector is ready to surpass the existing E20 benchmark already achieved by the country.Highlighting the ongoing geopolitical instability, she noted that rising oil prices present an opportunity to expand ethanol usage. Increasing the blending ratio beyond...

New Delhi, March 22 — Czech automaker Skoda Auto is targeting up to 12% sales growth in India this year, supported by a series of “ten product actions” and an expanded retail network, a senior company official said.Skoda Auto India, which recently introduced the updated version of its mid-size SUV Skoda Kushaq, is also working toward achieving annual sales of over 1 lakh units in the long term. However, the company does not expect to reach that milestone in 2026.Brand Director Ashish Gupta noted that the automaker sold nearly 72,000 units in 2025 and is now focused on steady growth through product enhancements and wider market reach.

New Delhi, March 22 — Dredging Corporation of India Ltd (DCIL) is aiming to more than double its revenue to ₹3,000 crore over the next five to six years, according to its Managing Director and CEO, Capt S Divakar. The company plans to achieve this growth by expanding into new markets and exploring additional business opportunities.Headquartered in Visakhapatnam, DCIL is one of India’s oldest and leading dredging firms, with nearly five decades of expertise in dredging services, maritime infrastructure development, and inland waterways.Highlighting the company’s growth trajectory, Divakar noted that DCIL’s revenue reached ₹1,148 crore in the 2024–25 financial year, up from ₹550 crore in 2015. “We have consistently expanded over the...