Asianet Newsable

India's RE capacity to hit 359 GW by FY30 amid power demand surge

Asianet News Central — Sat, 18 Apr 2026 09:30:31 +0530

With geopolitics now driving focus on energy security, Jefferies expects India's renewable energy (RE) capacity to reach 359 GW by FY25-30. The report comes as the country prepares for a significant recovery in power demand following a period of muted growth.

Power Demand Recovery and Climate Impact

The report anticipates that power demand will rebound to a six per cent growth rate in FY27, driven by a combination of normalizing industrial activity and specific climate factors. The 2026 monsoon season presents a notable upside for national power consumption. Citing forecasts from the International Research Institute for Climate and Society, Jeffeires notes a 60 per cent probability of an El Nino event during the June to September period. Such weather patterns typically correlate with a sharp rise in energy requirements across the domestic and agricultural sectors.

"Lower rainfall typically raises power demand from residential and agriculture segments which is 40-45% of India's power demand. Households see higher cooling product usage and agriculture usage of irrigation/pumping equipment rises," the Jefferies report states.

Balancing Energy Mix: Thermal and Solar Expansion

While the transition to green energy remains a primary focus, the government continues to bolster thermal capacity to maintain a stable energy mix. Plans are currently in place to add 97 GW of thermal capacity by 2034-35, a major expansion compared to the 247 GW recorded at the end of FY25.

Push for Domestic Solar Production

Domestic solar manufacturing is also seeing a heavy push through government mandates and decentralized subsidy programs. The PM Suryaghar rooftop solar initiative achieved approximately 9 GW of installations in FY26, while the PM Kusum agri-pump scheme added 7.5 GW. These programs, which rely on Domestic Content Requirement (DCR) cells, now represent nearly 30 per cent of India's annual solar installations.

"Govt impetus on DCR schemes is driving PV demand while domestic ingot/wafer mandate ensure backward integration. Capex required for cell capacity creation is ~US$ 70mn/GW and capex for ingot/wafer is broadly similar," the report says.

A government mandate for the use of domestic ingots and wafers, effective June 2028, marks a long-term transition toward total backward integration in the solar supply chain. This policy shift likely benefits companies with robust balance sheets that can manage the capital-intensive nature of such projects. Currently, a shortage of domestic cells allows early movers in the manufacturing space to maintain strong profitability. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Indian cement sector sees healthy demand, but profitability a concern

Asianet News Central — Sat, 18 Apr 2026 08:30:26 +0530

Demand High, But Profitability a Concern

The Indian cement industry is set for a period of healthy demand in the first quarter of FY27, even though rising input costs threaten to weigh on overall profitability. "We expect demand to be healthy in Q1FY27E. We are neutral on the cement space in view of a likely hit to profitability despite cement price hikes," according to a sector update report by Nuvama Institutional Equities.

Despite a series of price hikes initiated in early April across various regions, the report maintained a cautious outlook on the sector's financial margins. The industry currently navigates a complex landscape where robust government infrastructure spending offsets a significant slowdown in the residential real estate market.

Government Capex Fuels Demand

The report noted that the overall government capital expenditure, which includes central, state, and CPSE investments, surged approximately 26 per cent year-on-year to nearly Rs 2.3 trillion in February 2026 alone. This momentum followed a more subdued performance in the previous fiscal year, with central government spending catapulting 60 per cent in February after consecutive declines in preceding months.

For the period between April 2025 and February 2026, total government capex reached Rs 22 trillion, representing a 9 per cent increase over the previous year.

"Central government capex is up 14.5% YoY in 11mFY26 (11% YoY in FY25). Central government capex catapulted 60% YoY in Feb-26 after having declined 25% YoY each in Dec-25 and Jan-26. With the capex trajectory gaining momentum in Feb-26, higher capex allocations in the FY27E budget has raised hopes that FY27 demand will be better than in FY26," the Nuvama report noted.

Housing Sector Slowdown

However, the housing segment presented a stark contrast to the infrastructure push. Pan-India real estate launch volumes plunged 28 per cent during the January-February 2026 period. This continued a downward trend as launch volumes fell by 4 per cent in 2024 and 7 per cent in 2025.

Rising Costs and Price Hikes

Additionally, Nuvama's channel checks suggested that cement demand remained sluggish through March 2026 as unseasonal rains and labour shortages during the Holi festival impacted construction activity. "Cement price hikes were witnessed in early Apr-26 across regions and dealers expect these to sustain given rising power/fuel and packaging costs," the report stated.

The pressure on margins stems largely from a significant spike in fuel prices. Petcoke prices climbed to USD 153 per tonne, marking an increase of approximately USD 41 per tonne since the third quarter of the 2026 fiscal year. The impact of these rising costs is expected to surface in company balance sheets starting from the second half of the current quarter.

While the industry saw a 9.3 per cent year-on-year increase in volumes in February 2026, reaching 44.9 million tonnes, the focus remains on whether price adjustments can outpace the rising cost of production. "We remain neutral on the cement space and believe stock prices will be determined by the trajectory of cement and petcoke prices going ahead," the report stated. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

New Income Tax Act: Companies must revamp ERP, payroll systems says expert

Asianet News Central — Fri, 17 Apr 2026 21:31:19 +0530

System Overhaul for New Tax Compliance

Companies will need to undertake a comprehensive revamp of their internal systems, including enterprise resource planning (ERP), payroll structures, and tax processes, to align with the expanded disclosure obligations under the new Income Tax Act and Rules, Khaitan & Co Partner (Direct Tax) Shaily Gupta told ANI today.

"They need to reconfigure ERP for payment systems to align with revamped TDS and TCS provisions, revise internal SOPs, assess the need to update agreements, and restructure payroll to pass on the benefits of revised employee tax rules. Overall, this calls for significant preparatory work. Companies should also prioritise cross-functional alignment and training to minimise the risk of misreporting and consequent tax inquiries," Gupta said.

Intent vs. Impact: The Reality of New Rules

She emphasised that while the new Income Tax Act has been positioned as a simplification exercise, the real impact lies in the changes to rules and attendant compliance requirements. According to her, taxpayers and consultants must look beyond the stated intent of simplification and focus on how these changes affect compliance and reporting.

"So I highlighted the intent and impact of the changes in the new income tax act. While we've always been discussing the simplicity of the new act, what everyone needs to understand is the impact of changes in the rules and, more importantly, the changes that have been introduced through the new income tax forms," she said.

Rising Client Queries on Implementation

Gupta noted that the transition to the new law is already visible on the ground, particularly in the form of increased queries from clients who are implementing the changes in real time. She pointed out that one of the biggest areas of concern is the migration of systems, especially in relation to tax deduction at source (TDS) and payroll restructuring.

"We have a lot of questions coming from clients because they are effectively implementing the new law on the ground. Maximum questions right now relate to payroll restructuring," she said.

Compensation Structures Under Review

She added that companies are simultaneously evaluating the impact of labour codes and income tax changes to make compensation structures both compliant and tax-efficient.

"Companies want to factor in the impact of wage code impact assessments while also making structures tax-friendly. So we expect a lot of change and implementation in the compensation structures within the companies from June, which is the time required to transition to these changes," Gupta said.

Navigational and Structural Complexities

Highlighting structural challenges, Gupta said that while the law may appear simpler, navigating it could be more complex in the initial stages. The legislation is now divided into the main Act, rules to be read with Schedules and Tables appended thereto, requiring users to interpret provisions across multiple layers.

"The navigation has become relatively difficult. People will take time to understand the structure of the new Act as the entire legislature is now divided into the main Act, separate rules with tables and schedules appended thereto. One will have to read an interplay between the three of them," she explained.

Policy Framework and Tax Regime Choice

On policy changes, Gupta clarified that there has been no major policy shift in the core tax framework, but certain rules--particularly those related to employee taxation--have been revised, including updated thresholds that account for inflation. She also said that the debate between the old and new tax regimes is far from over. Despite the government's push for migration to the new regime, taxpayers will still need to evaluate which option is more beneficial based on revised exemptions and thresholds.

Stricter Disclosure and Record-Keeping Mandates

On compliance, Gupta flagged stricter disclosure requirements under the new law, warning that filings will be final and cannot be revised easily.

"Whatever transactions they undertake in the ongoing year that get reported in the next year, they will not have an option to retract. All the filings, the disclosures will be sacrosanct," she said.

She advised taxpayers to maintain detailed and contemporaneous records, including agreements and invoices, for at least six years and three months, in line with the period during which tax authorities can initiate inquiries.

Broader Tax Landscape and Investor Outlook

On the broader tax landscape, Gupta said there are no immediate expectations of further corporate tax cuts, noting that the government has already rationalised rates and introduced targeted incentives, including for sectors such as data centres. She also pointed out that while the new law itself does not introduce major investor-friendly provisions, recent developments outside the statute--such as treaty clarifications and General Anti-Avoidance Rules (GAAR) relief for pre-2017 investments--send a positive signal to the international investor community.

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

S Korea's Top Conglomerates Join President on India, Vietnam Visit

Asianet News Central — Fri, 17 Apr 2026 21:31:04 +0530

In a major push to fortify global supply chains and expand market footprints in the Global South, the heads of South Korea's four largest conglomerates are set to accompany President Lee Jae-myung on a high-stakes state visit to India and Vietnam starting this Sunday. The move signalled a major push for investment and partnerships across semiconductors, automotive, electronics, and energy, The Korea Herald reported.

High-Stakes Diplomatic and Business Mission

President Lee is scheduled to visit India and Vietnam from April 19 to 24, his first trip to the two countries since taking office last year. The India stop will be the first by a South Korean president in eight years. According to industry sources cited Friday by The Korea Herald, the attendee list for both legs has been finalised. The Federation of Korean Industries will organise the India mission, while the Korea Chamber of Commerce and Industry oversees the Vietnam delegation. Each mission is expected to include around 200 business executives. The delegations will participate in business forums -- India on Monday and Vietnam on Tuesday -- and meet senior government officials in both countries, the report said.

Key Business Leaders on Tour

Samsung Electronics Chair Lee Jae-yong and LG Group Chair Koo Kwang-mo are expected to join both legs of the trip, reflecting their groups' broad interests in the two markets. Samsung has made Vietnam a major production base for smartphones and electronics, while India has grown into a key consumer market and manufacturing hub. LG has also expanded in Vietnam, including automotive components and R&D, and is positioning India as a growth market with a third LG Electronics manufacturing plant now under construction, The Korea Herald noted. SK Group Chair Chey Tae-won, who also chairs the Korea Chamber of Commerce and Industry, is expected to lead the Vietnam delegation and skip India. Lee Hyung-hee, head of the SK Supex Council's communication committee, will travel to India in his place. Hyundai Motor Group Executive Chair Chung Euisun is expected to focus on India, underscoring the country's rising importance to the automaker. In Vietnam, the group will be represented by President Sung Kim, the veteran diplomat who oversees external and government affairs, according to the report.

Focus on Investment and Strategic Partnerships

Industry officials told The Korea Herald that the participation of top business leaders could pave the way for follow-up investment plans or new partnerships, given the "significant presence of Korean businesses" already in both countries. Key sectors in focus include semiconductors, automotive, electronics, and energy. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Iran Reopens Strait of Hormuz, Triggering Major Crash in Oil Prices

Asianet News Central — Fri, 17 Apr 2026 20:30:47 +0530

Oil Prices Crash as Iran Reopens Key Waterway

Global energy markets experienced a dramatic correction on Friday as oil prices nosedived following the announcement that Iran has fully reopened the Strait of Hormuz. The move effectively dismantled the "war-risk" premium that had gripped the market during the recent high-stakes standoff between Washington and Tehran.

Iran on Friday declared the Strait of Hormuz "completely open" for commercial transit. The move followed a 10-day ceasefire between Israel and Lebanon and an optimistic tone from the US administration regarding broader regional de-escalation Benchmark Brent crude crashed 11% to around $88 a barrel, while US West Texas Intermediate fell 10% to $81.5 a barrel, as traders rushed to unwind the "war-risk" premium built up during the US-Iran standoff.

Trump and Tehran Confirm Breakthrough

The market slump was triggered by an announcement from US President Donald Trump, on Truth Social: "IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU," the President posted, signalling a breakthrough in regional tensions.

Iranian Foreign Minister Abbas Aragchi also confirmed the reopening, linking the move to the broader regional stability following the recently enacted truce in Lebanon. Aragchi stated that the waterway is now "completely open for the remaining period of the ceasefire," providing a vital window of relief for global shipping.

Economic Relief for Global Importers

The 30-kilometre-wide Strait of Hormuz is the world's most critical energy artery, handling roughly 20% of global oil consumption. Its effective closure during the recent weeks of conflict had threatened to trigger a massive global energy shock, forcing traders to price in a worst-case supply cutoff.

The price crash provides significant economic relief to major energy-importing nations, particularly India, which relies on imports for 89% of its crude requirements. The restoration of traffic through the Strait ensures the steady flow of Middle Eastern crude, easing the pressure on inflation-hit economies across Asia and Europe.

Analysts Urge Caution

While the markets have responded with immediate optimism, analysts remain cautious. Although crude has stabilised around the $80-$90 range for now, the permanence of this "breather" depends entirely on the durability of the ceasefire and the continued absence of renewed maritime friction in the Gulf. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

US, Philippines Launch Luzon Tech Hub to Secure Global Supply Chains

Asianet News Central — Fri, 17 Apr 2026 20:00:39 +0530

In a landmark move to reshape global technology supply chains, the United States and the Philippines have announced plans to develop a massive 4,000-acre (1,620-hectare) industrial hub in Luzon. The project, designated as an Economic Security Zone (ESZ), is a centrepiece of the newly signed Pax Silica pact, a Washington-led initiative aimed at securing critical technologies against geopolitical instability.

The US Department of State said on Friday (local time) that the US and the Philippines will set up a 4,000-acre industrial hub in the Luzon Economic Corridor, billed as the first "AI-native Industrial Acceleration Hub" under the Pax Silica initiative, as both nations deepen supply-chain ties amid shifting geopolitical currents. The announcement came as the Philippines formally joined Pax Silica, becoming the thirteenth signatory to the US-led partnership that frames economic security as national security. The initiative now includes Australia, Finland, India, Israel, Japan, Qatar, Republic of Korea, Singapore, Sweden, the United Arab Emirates, the United Kingdom, and the United States, according to the press release. It added that more countries are expected to join.

An Economic Security Zone to Bolster Supply Chains

Manila is offering the site as an "Economic Security Zone" designed to "surge production for inputs vital to U.S. supply chains." The hub is intended to serve as a staging point for allied manufacturing and an investment acceleration platform where industrial activity will be shaped by market demand, the host country's comparative advantages, and the needs of the Pax Silica network.

Strengthening US-Philippines Partnership

Philippines Department of Trade and Industry Undersecretary and Board of Investments Vice Chairperson Ceferino S. Rodolfo signed the declaration on behalf of Manila. The US described the Philippines as a "close U.S. treaty Ally" that brings "key capabilities and human talent in technology manufacturing, including semiconductors and electronics" to the group.

The US Department of State added that the move builds on existing cooperation through the United States-Philippines Critical Minerals Framework and the Luzon Economic Corridor, and comes as the two allies mark 80 years of diplomatic relations.

Pax Silica: A 'Positive-Sum Partnership'

Both sides said they are committed to strengthening shared supply chains in critical minerals, semiconductors, electronics, and other goods, while attracting "high-quality private sector investment critical to Pax Silica." Pax Silica is being pitched as a "positive-sum partnership of nations who want to remain competitive and prosperous," grounded in the view that "economic security is national security and national security is economic security."

The Luzon hub is the first of its kind under the framework and signals Washington and Manila's intent to anchor trusted, resilient production capacity in the Indo-Pacific. Additional signatories and similar hubs are expected as the network expands. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

How Iran's Hormuz Move Sent Oil Tumbling And Stocks Soaring Worldwide

Divya Danu — Fri, 17 Apr 2026 19:53:41 +0530

Oil prices fell sharply and global stock markets surged after Iran announced that the Strait of Hormuz would remain open during ceasefire. The move eased fears of supply disruptions, bringing oil below $90 per barrel. Investors reacted positively.

Global markets saw a sharp shift on Friday after Iran announced that the Strait of Hormuz would remain open during the ongoing ceasefire. Oil prices dropped quickly, while stock markets in the United States and Europe moved higher.

This sudden change has raised hopes that tensions in the Middle East may ease and global trade could return to normal.

Abbas Araghchi, Iran's Foreign Minister, said that the Strait of Hormuz would be “completely open” for commercial ships during the ceasefire period.

He wrote on social media that all vessels can pass through the route, though they must follow a coordinated path set by Iranian authorities.

In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran.

— Seyed Abbas Araghchi (@araghchi) April 17, 2026

This announcement is important because the Strait of Hormuz is one of the world’s most critical shipping routes for oil.

The Strait of Hormuz is a narrow waterway through which about one-fifth of the world’s crude oil passes.

During the recent conflict involving the United States, Israel, and Iran, the route faced disruptions. This pushed oil prices up to nearly $120 per barrel and created fears of a global economic slowdown.

Any change in the status of this route directly affects fuel prices, transport costs, and the wider economy.

Immediate impact on oil prices

After Iran’s announcement, oil prices dropped sharply.

Brent crude fell nearly 10 percent to about $89.56 per barrel West Texas Intermediate (WTI) dropped over 10 percent to around $81.88 per barrel

This was one of the biggest single-day drops in recent times.

Market experts said the fall shows how quickly oil reacts to news about supply routes and conflict.

At the same time, stock markets rose. In the United States:

The Dow Jones increased by about 1.3 percent
The S&P 500 rose by around 0.7 percent
The Nasdaq Composite gained nearly 0.9 percent

These gains added to record highs reached earlier.

European markets also climbed, with Germany’s DAX and France’s CAC 40 rising by around 2 percent.

However, Asian markets mostly closed lower. Tokyo’s Nikkei dropped after hitting a record high a day earlier, while Hong Kong and Shanghai also saw slight declines.

Lower oil prices often reduce costs for businesses and transport. This improves company profits and supports economic growth.

Experts also said the market is reacting to hopes that the conflict may end soon.

Kathleen Brooks from XTB said this is the biggest positive development during the ceasefire and could bring supply chains back to normal.

Another analyst, David Morrison, pointed out that the strong rise in markets is forcing some investors to re-enter quickly, adding to the rally.

The announcement is linked to ongoing ceasefire efforts in the region. There is some confusion about whether it refers to:

A 10-day ceasefire between Lebanon and Israel Or an earlier two-week truce between Iran and the United States

Still, the move has increased hopes for further peace talks.

Donald Trump also confirmed that the strait is open but said that the US blockade on Iran’s ports is still in place.

He added that talks are ongoing and leaders may soon meet to push for peace.

Global leaders step in

Efforts are also being made at the international level.

Emmanuel Macron and Keir Starmer held talks with allies about possibly sending a multinational force.

The goal would be to ensure that trade continues smoothly through the Strait of Hormuz once the conflict ends.

Market experts say emotions are also playing a role.

The sharp rise in stocks has created a “fear of missing out” among investors. Many who sold earlier during the conflict are now buying again to avoid losses.

David Morrison noted that the S&P 500 has risen nearly 12 percent in just over two weeks, showing how quickly markets can recover.

Strong company earnings in the first quarter are also supporting this upward trend.

Currency markets and global indicators

Currency markets also reflected the changes:

The euro and pound rose against the dollar The Japanese yen strengthened slightly The dollar weakened overall

These shifts show growing confidence among investors.

What happened in Asia and global indices

Asian markets did not follow the same trend fully.

Tokyo’s Nikkei index fell by 1.8 percent after reaching a record high earlier. Hong Kong’s Hang Seng dropped 0.9 percent, while Shanghai saw a small decline.

Taiwan’s TAIEX index also fell after reaching a major milestone, becoming one of the world’s largest indices by value.

While the overall market was positive, some companies faced losses.

Streaming giant Netflix dropped more than 10 percent after weak forecasts disappointed investors.

Its co-founder Reed Hastings also announced he would step down as chairman in June.

The reopening of the Strait of Hormuz is a major step towards stability. Lower oil prices can reduce inflation and ease pressure on economies worldwide.

At the same time, rising stock markets show growing confidence that the conflict may not last long.

However, risks remain. The situation depends on how long the ceasefire holds and whether peace talks succeed.Key things to watch in the coming days include:

Whether the ceasefire continues
Progress in peace talks
Any changes in US sanctions or blockades
Stability in oil supply routes
Markets are likely to remain sensitive to every update.

Iran’s decision to keep the Strait of Hormuz open has had a powerful effect on global markets. Oil prices dropped sharply, while stock markets surged on hopes of peace.

While the situation is still uncertain, this move has brought some relief to investors and economies around the world.

Private sector lacks excitement for nuclear power despite Shanti Act

Asianet News Central — Fri, 17 Apr 2026 19:01:05 +0530

Despite the government enacting the landmark Shanti Act to open up nuclear power, the same level of "excitement from the private sector is not seen," NTPC Chairman and Managing Director Gurdeep Singh said on Friday.

Private Sector Hesitation Despite Landmark Act

Speaking at an event on India's nuclear journey, Singh said the law addressed the two biggest concerns that had held back private participation for years. "Their main concern was liability, which I believe has been taken care of, and the other end is the private sector participation, which is again already taken care of," he said. "But after that, I think the same kind of excitement from the private sector is not seen. I'm not sure what the reason is... what are the things which are really causing some kind of constraints?"

Next Steps: Rules, Fuel Security, and 2047 Goal

Singh called the Act a "pioneering effort" by the government and said it was passed after "wider discussion and extensive involvement from almost all stakeholders." The next step, he stressed, is framing the rules quickly. "The Act has been enacted, and now the work has to start on the rules... as soon as this comes, this is far better." He urged the conference to spend time on recommendations that can go to the government, especially on fuel. "The fuel availability for the plant, which is going to be for 60 years, can be insured... energy security, whether it is in the primary energy or whether it is in the logistics, I think this is much more important than anything else."

India has set a target of 100 GW of nuclear capacity to help achieve Viksit Bharat by 2047. Singh said three sources will underpin India's energy security: coal, renewables with storage "so that it can become dispatchable power whenever you want"; and nuclear, which he called a "very, very important pillar."

Globally, nuclear provides about 10% of electricity from 400 GW of capacity, with long plant lives of 60-plus years. "Countries which have earlier gone for nuclear... are reaping the benefit," he said, citing France as a "shining example" in the current energy crisis.

Prioritizing Domestic Technology

On technology choice, Singh cautioned against over-dependence on a single supplier or country. "If you are having dependence only on one technology or one supplier or one of the service providers... we can face serious situations. And this is what, at present, I think the world is facing." He said even if domestic options are "5-10% costlier," control over technology and resources should get "much more priority rather than only... splitting the last paisa for the balance sheet."

NTPC's Strategy and SMRs

NTPC itself aims to build around 30 GW of the 100 GW national target by 2047, from zero today. "There is a long way to go," Singh said, adding that financing for NTPC will be "relatively easier than somebody who is going to do the project financing."

On small modular reactors, he said NTPC's assessment is to focus on larger sets for now. "It is coming out clearly that companies like NTPC should focus on the larger sets rather than the SMRs at present." SMRs could suit captive industry use, but "the cost is going to be quite enormous... if they want to have the standby facilities."

Execution and State-Level Hurdles

Execution remains the big challenge, Singh noted. "Many of the countries, including us... are taking quite a long time and... the cost is coming from the IDC." Standardised designs, faster regulatory clearances, and on-site decision-making between developers and contractors are key to cutting timelines.

He also flagged state-level hesitation despite the Prime Minister's push for at least one nuclear plant in every state. "We are working with around 14 states... still, I think the acceptance is not that high." Visits to sites like Kakrapar, he said, have shifted perceptions, and more such outreach is needed. "Nuclear is safe."

Singh closed by thanking the Central Electricity Authority for convening the conference and said the discussions should help "take the nuclear journey forward." (ANI) (Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Govt updates list of banks authorized to import gold and silver

Asianet News Central — Fri, 17 Apr 2026 18:30:32 +0530

The Department of Commerce, under the Ministry of Commerce and Industry, has updated the list of banks authorised to import gold and silver, as per an official notification issued on Friday.

According to the notification issued by the Directorate General of Foreign Trade (DGFT), amendments have been made in Appendix 4B of the Handbook of Procedures, 2023, under the Foreign Trade Policy (FTP), 2023. The revised list will come into effect from April 1, 2026, and will remain valid until March 31, 2029.

Revised List of Authorised Banks

As per the notification, a total of 15 banks have been authorised by the Reserve Bank of India to import both gold and silver. These include major public and private sector lenders such as Axis Bank Limited, Bank of India, Federal Bank Limited, HDFC Bank Limited, ICICI Bank Limited, IndusInd Bank Limited, Indian Overseas Bank, Kotak Mahindra Bank Limited, Karur Vysya Bank Limited, Punjab National Bank, RBL Bank Limited, State Bank of India and Yes Bank Limited. Deutsche Bank and Industrial and Commercial Bank of China Limited are also part of the authorised list.

Banks Authorised for Gold Imports Only

In addition, two banks have been permitted to import only gold. These include Union Bank of India and SBER Bank.

Streamlining Import Regulations

The government stated that the update in the list is part of amendments carried out under the relevant provisions of the Foreign Trade Policy, aimed at regulating and streamlining imports of precious metals.

The notification clarified that the list of banks authorised to import gold and silver has been updated under Appendix 4B of the Handbook of Procedures, 2023.

The move is expected to ensure a structured and regulated framework for imports of gold and silver through designated banking channels.

The notification was issued by the Director General of Foreign Trade, who also serves as Ex-officio Additional Secretary to the Government of India. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Inverted duty structure under GST 2.0 hurting FMCG, OTC pharma firms

Asianet News Central — Fri, 17 Apr 2026 18:00:57 +0530

Inverted Duty Structure Hurting FMCG, OTC Sectors

The inverted duty structure resulting from rate changes under the Goods and Services Tax (GST) 2.0 regime is hurting companies especially in the FMCG and over-the-counter (OTC) pharma sectors, with high input-side taxation on key services leading to accumulation of credits, Khaitan & Co Indirect Tax Partner, Sudipta Bhattacharjee told ANI on Friday.

"The whole issue of inverted duty structure emerging after GST 2.0 has started hurting a lot of companies in the FMCG or over-the-counter drugs business," Bhattacharjee said. Citing the reason for the same, he said this is mainly "because for them there is a massive expense on the input side for services like which marketing and advertising services on which there is 18 per cent GST which is getting accumulated because you don't get an inverted duty refund for those input side services." He added that the issue is one of the key concerns flagged to the government, with expectations that authorities may "do something to mitigate this problem."

Impact of GST Compensation Cess Removal

Highlighting another major concern, Bhattacharjee pointed to the removal of GST compensation cess and its impact on businesses. He noted that companies are now left with significant accumulated credits of input side compensation cess that have effectively turned into unusable assets. "Now that compensation cess has been done away with, a lot of companies are sitting on massive amounts of input side GST compensation cess accumulated credit. All of those were assets and now all of that has become worthless effectively. So that will certainly hit their P&L in some form," he said, adding that the issue could trigger wider litigation across sectors.

He further observed that industry bodies, including automobile dealers, have already approached the Supreme Court, and more players are likely to follow. "One way to avoid the litigation entirely would have been to provide some sort of a transitional mechanism; without such a mechanism, I foresee this becoming a much larger multi-sector litigation" he said.

Concerns Over Free Trade Agreements and Rules of Origin

On India's expanding network of free trade agreements (FTAs), Bhattacharjee flagged concerns around the implementation of rules of origin, particularly under the Customs (Administration of Rules of Origin under Trade Agreements) Rules, commonly referred to as CAROTAR. He explained that while FTAs provide for certificates of origin, Indian customs laws require a more detailed "proof of origin," allowing authorities to seek extensive information on manufacturing processes and value addition at the end of the foreign exporter, which can be highly sensitive at times.

"That can lead to a lot of friction, delays, unnecessary litigation," he said, adding that strict implementation of the CAROTAR rules may discourage businesses seeking preferential tariff benefits under the various free trade agreements.

Awaited Verdict on Online Gaming Taxation

On the long-pending issue of taxation in the online gaming sector, he said the Supreme Court's judgment, reserved in August 2025, is expected soon and will be "a momentous judgement for the entire sector." However, he noted that many companies have already shut down or pivoted, limiting the practical impact of the verdict.

GST Compliance Remains Complex Despite Digitisation

Bhattacharjee also acknowledged improvements in GST compliance due to increased digitisation and better reconciliation systems, but said the regime remains complex and heavily data-driven, especially for MSMEs. "The GST compliance as a whole has become very data-driven, very complex, very system-driven," he said, suggesting that simplification in implementation and greater sensitisation at the officer level could improve ease of doing business.

Future of GST: Petroleum and Alcohol Inclusion Unlikely

On the broader structure of GST, he noted that while expanding its coverage to include petroleum products and alcohol could simplify the tax regime, such a move is unlikely in the near term due to states' fiscal dependencies.

Call for a Rules-Based Global Trade Order

Commenting on the global trade environment, he stressed the need to return to a rules-based international order, warning that the current landscape is increasingly driven by unilateral actions and bilateral arrangements. "I just hope that at some point in time we can go back to the good old days where there was at least some semblance of a rules-based international order," he said. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Motilal Nagar Redevelopment: MHADA unveils project by Adani Group

Asianet News Central — Fri, 17 Apr 2026 18:00:35 +0530

Motilal Nagar Redevelopment Project was unveiled on Friday to strengthen the sustainable urban development by the Mumbai Board of MHADA. The project was inaugurated by Sanjeev Jaiswal, IAS, Vice President and Chief Executive Officer, MHADA. According to a statement released by MHADA, the ambitious project is being undertaken under the Construction & Development Agency model by Adani Group. The project is spread around 143 acres in Mumbai's suburban region.

Project Scope and Beneficiaries

This project aims to 3,702 eligible residential beneficiaries will be provided free rehab housing units of approximately 1,600 sq. ft. each, while 328 eligible commercial occupants will receive commercial units of 987 sq. ft. each. Additionally, around 1,600 slum dwellers will be rehabilitated with 300 sq. ft. housing units under SRA provisions. MHADA will also receive a substantial housing stock as part of the redevelopment.

Government's Commitment to Quality Housing

Speaking on the occasion, Sanjeev Jaiswal stated, "The Motilal Nagar Redevelopment Project is one of the most important and historic projects in MHADA's journey. The State Government is committed to providing well-planned and quality housing to all citizens. Under the leadership and vision of Hon'ble Chief Minister Devendra Fadnavis and Deputy Chief Minister and Housing Minister Eknath Shinde, this project has gained momentum and direction."

He further added that the project aims to provide residents a safe, modern, and enhanced lifestyle.

Historical Context and Need for Redevelopment

The project was originally developed in the 1960s, where Motilal Nagar colony catered to the needs of the middle class at the time. However, with growing population, changing lifestyles, and increasing pressure on infrastructure, the need for comprehensive redevelopment became imperative.

Implementation and Timeline

According to the press release, the State Government has granted the status of a Special Planning Authority to MHADA for the implementation of this project. The Adani Group was selected as the Construction and Development Agency (C&DA) through a rigorous tendering process. It has set a target of completing the project within the next seven years after receiving of the Occupation Certificate.

A '15-Minute City' with Modern Infrastructure

The press release said that the major highlight of this project is its transformation into a "15-minute city", where essential amenities such as schools, clinics, hospitals, markets, commercial complexes, green parks, senior citizen zones, playgrounds, jogging tracks, cycling tracks, cultural halls, and gymnasiums will be accessible within a 15-minute radius.

The project includes the development of nearly 15 acres of green zones. Additionally, modern infrastructure such as multi-level parking, sewage treatment plants (STP), rainwater harvesting systems, solar energy utilization, smart security systems (CCTV, access control), fire safety systems, and eco-friendly technologies will be incorporated. Thus, the project goes beyond housing and embraces the concept of "Live, Work, and Play," offering a holistic lifestyle.

Through this project, residents will not only receive spacious homes but also experience a modern township lifestyle, MHADA said in its press release.The detailed master plan presented by MHADA elaborates all these aspects, reaffirming its commitment to residents' welfare and timely completion of the project. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Karnataka doubles down on deep tech, AI for Bengaluru Tech Summit 2026

Asianet News Central — Fri, 17 Apr 2026 17:31:03 +0530

Karnataka is doubling down on deep tech, responsible Artificial Intelligence (AI), and sustainable infrastructure as it gears up for the Bengaluru Tech Summit (BTS) 2026, with the state positioning itself as India's innovation hub rather than joining a "race to the bottom" for investments.

Focus on Sustainable Growth and Innovation

Speaking on the sidelines of a BTS 2026 curtain-raiser in Delhi, Priyank Kharge, Minister of Rural Development and Panchayat Raj, said Karnataka has "funded over 1,300 startups" and remains "the startup capital of the country." The state's startup ecosystem is "valued over $300 billion" and ranks "number 8 in the world," he noted.

This year's summit, scheduled for November 17-19, is themed 'AI and Beyond'. Kharge said the Delhi outreach was aimed at "dialogue with the diplomats to seek their help to ensure that we get more companies from their respective countries to Karnataka." He added that "over 80 countries" are already participating and "there will be over 40 ambassadors, high commissioners, deputy high commissioners and other dignitaries" at the event.

On the policy front, Kharge said Karnataka is working on frameworks for "responsible AI" and "sustainable data centres," while also consulting the industry on "better regulations." Demand for regulatory sandboxes is rising, he said: "A lot of people have been asking for innovation, regulatory sandboxes. And I think that is something that we are also very keen to do as a government. We have done it at a very experimental level and I think we'll need to go on a scale and we'll do it."

Asked about competing for large-scale data centre and AI investments, Kharge said Karnataka is taking a calibrated approach. "We are not here to race to the bottom. We are a much more mature ecosystem. So, while we want data centres, we also need to ensure that they are sustainable data centres. And also, we need to ensure that we use them to grow an ecosystem for emerging technologies as well."

AI and Deep Tech at the Forefront

Kiran Mazumdar-Shaw, Founder, Biocon Limited, speaking about the event, said BTS 2026 will spotlight "all aspects of deep tech, AI-led tech and tech in general," including biotech.

"Innovation is the new mantra for our country's growth towards Viksit Bharat and AI-led innovation is certainly the new frontier which India can also participate in, in a leadership manner," she said. Shaw said the summit will showcase technologies "from a start-up stage to a scaled-up level" and called it a moment of "huge disruptions" in how AI is deployed.

"This is a very exciting time we're living in... how we use AI ethically and responsibly and like always, I think Bengaluru and Karnataka are taking the lead," she said. "Well, everyone is leveraging AI; these are early days of AI, but I think everyone is learning to deploy AI because if you don't, you will be left behind," she said. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

LPG demand to moderate in summer, bookings decline: Govt assures supply

Asianet News Central — Fri, 17 Apr 2026 17:30:27 +0530

LPG demand is expected to moderate during the summer season, with bookings already witnessing a decline, said Sujata Sharma, Joint Secretary (Marketing & Oil Refinery), Ministry of Petroleum and Natural Gas, during an inter-ministerial briefing on recent developments in West Asia on Friday. She stated that LPG bookings have come down to the range of 46 lakh to 50 lakh, compared to levels of more than 50 lakh earlier, indicating a seasonal dip in demand. "Summer, yes, LPG demand is expected to come down. Bookings have declined and now we are witnessing booking in the range of 46 lakhs to 50 lakhs, which was more than 50 lakhs earlier," she said.

LPG and Fuel Supply Stable

Despite the decline in demand, the government assured that the domestic supply remains stable. Sharma said there have been no reports of LPG shortages at the distributor level, and deliveries continue as usual. "Our domestic LPG supply, including petrol and diesel, is normal. There have been no reports of any dry-out of LPG at any distributor," she said.

On production, she noted that domestic LPG output is fluctuating in the range of 46,000 to 50,000 MMT (Million Metric Tons), indicating steady supply conditions to meet demand. She also highlighted that overall fuel availability remains adequate across the country. Petrol pumps are operating normally with sufficient availability of petrol and diesel, while refineries are functioning at optimal capacity. Crude oil stocks are also sufficient, ensuring an uninterrupted supply.

Auto LPG Sales Witness Rise

On the auto LPG segment, Sharma said that public sector oil marketing companies sold 177 tons per day in February, compared to approximately 296 tons per day in April. She added that certain states, including Karnataka, Tamil Nadu, Telangana, Rajasthan and West Bengal, are witnessing a rise in auto LPG sales.

PNG Network Expansion to Ease LPG Demand

The government is also taking steps to reduce pressure on LPG demand by expanding the Piped Natural Gas (PNG) network. State governments have been urged to grant deemed approvals to pending applications to accelerate this expansion.

No Need for Panic Buying: Government

Reassuring consumers, Sharma urged people not to panic or believe in rumours regarding fuel availability. "We have ample supply, so do not believe rumours and buy petrol, diesel, and LPG only as needed," she said.

Govt Monitoring West Asia Situation

The briefing comes amid evolving geopolitical developments in West Asia, with the government closely monitoring energy supply dynamics while maintaining stable domestic availability. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Paytm Gold expands physical gold delivery service to over 12,000 codes

Asianet News Central — Fri, 17 Apr 2026 17:00:27 +0530

Paytm (One 97 Communications Limited), India's full stack merchant payments leader serving MSMEs and enterprises, and a leading financial services distribution company, and the pioneer of mobile payments, QR codes, and Soundbox, announced that its Paytm Gold offering has extended doorstep delivery of physical gold across more than 12,000 pin codes, enabling easy conversion of digital gold balance into 24-karat gold coins, making it easier to buy and receive gold across the country.

Paytm Gold Service Details

The company offers Paytm Gold in partnership with MMTC-PAMP, a joint venture of MMTC Ltd., a Government of India undertaking, and Switzerland-based MKS PAMP SA. The offering allows digital gold balances to be redeemed into physical gold, giving greater flexibility and control over gold savings. Nominal making and delivery charges are applicable at the time of redemption of physical gold.

According to the company, on the Paytm app, 24-karat digital gold can be seamlessly purchased starting at ₹51, based on live market prices, making it easy to start saving in a trusted asset like gold, and avail options of doorstep delivery by converting it into physical gold.

Every purchase is backed by equivalent physical gold stored in insured, high-security, bank-grade vaults managed by MMTC-PAMP, with no storage fees, ensuring a safe and reliable ownership experience.

It also enables digital gold balance to be sold anytime at live market prices, ensuring liquidity and flexibility to exit when required.

A Paytm spokesperson said, "Gold has always been close to India's heart, especially during Akshaya Tritiya. With Paytm Gold, we are making it simple to convert digital gold into 24-karat physical gold and have it delivered at home across the country. This gives people the freedom to save in gold in a way that fits their needs."

How to Avail Physical Gold Delivery

Physical delivery of Paytm Gold can be availed through the Paytm app in a few simple steps:

--Open the Paytm app and search for Paytm Gold

--Select 'Withdraw Gold' and choose the option for 'Physical Gold Delivery'

--Select the desired quantity in grams or value

--Review applicable making and delivery charges

-- Enter and confirm the delivery address

-- Proceed to confirm the request and complete authentication

-- The physical gold coins is processed and delivered to the doorstep within the supported pin codes

Disciplined Investment with Daily Gold SIPs

Paytm also offers Daily Gold SIPs, enabling small, regular investments that help build digital gold savings steadily over time. This supports disciplined savings while providing the flexibility to build gold holdings over time and convert them into physical gold as needed.

About Paytm

According to company information, the pioneer of the mobile payments, QR and Soundbox revolution in India, Paytm is India's leading payments and financial services distribution company. We build technology that empower small businesses to grow and enable consumers to make seamless payments anywhere.

Paytm's mission is to bring half a billion Indians into the mainstream economy. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Policy reforms key for women entrepreneurs' market access: ORF Report

Asianet News Central — Fri, 17 Apr 2026 17:00:23 +0530

To enable women to participate as equal stakeholders in the marketplace requires policy interventions that go beyond visibility and address deeper structural, spatial and institutional barriers, highlighted a report by Observer Research Foundation.

The report noted that while existing frameworks recognise the social and financial dimensions of women's entrepreneurship, they often overlook critical aspects like urban planning, licensing, and institutional access that shape women's economic participation. It emphasised that governance and procurement reforms are essential to improve market integration for women-led enterprises.

Governance and Procurement Reforms

It stated, "Beyond the metrics of registration and credit, policies should reflect a vision of spatial justice and structural changes, in which women not only participate but also co-govern the marketplaces." The report called for enforcing the 3 per cent Government e-Marketplace (GeM) procurement quota for women entrepreneurs and ensuring it is not limited to low-margin sectors. It also recommended simplifying bid criteria by relaxing requirements related to turnover, experience and certifications for microenterprises. Further, it suggested introducing post-disbursal reporting frameworks to assess whether financial support actually leads to meaningful economic participation.

Enhanced Support and Regulatory Simplification

Localized Support and Digital Literacy

The report also called for establishing ward-level Vendor Support Cells to assist women in accessing procurement platforms through digital training, documentation and tax literacy.

Reforming Urban Licensing and Zoning

On regulatory aspects, the report highlighted the need to reform urban licensing and zoning rules. It recommended amending the Shops and Establishments Acts to recognise home-based and hybrid businesses, as well as relaxing working hour restrictions that limit women's participation in evening and night markets. The report also stressed the importance of recognising women-led enterprises in non-commercial zones and simplifying licensing processes through integration with planning mechanisms.

Integrating the MSME Ecosystem

In the MSME ecosystem, the report called for recognising collectives, informal units and hybrid businesses as valid economic entities. It also suggested integrating multiple registrations, such as GST, FSSAI, trade licences and Udyam into a single-window system tailored for women-led businesses.

Institutional Representation and Infrastructure

Institutional representation was identified as another key gap. The report recommended mandatory inclusion of women in market boards, municipal licensing committees and Town Vending Committees. It also proposed setting up dedicated Market Women's Cells at the city level to address grievances and support entrepreneurs.

Additionally, the report emphasised the need for better infrastructure and hybrid models to support digital and physical business integration. It called for extending labour protections and social security to women operating on online platforms.

Building an Inclusive Ecosystem

The report concluded that recognising care work and unpaid labour as constraints, along with involving women in policy design, is crucial for building an inclusive and sustainable entrepreneurial ecosystem. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Sensex, Nifty close higher as Mideast tensions ease, FIIs return

Asianet News Central — Fri, 17 Apr 2026 16:00:30 +0530

The domestic stock markets recovered from a weak start on Friday and closed higher, supported by improving geopolitical sentiment and a return of foreign institutional investor (FII) inflows. The NSE Nifty 50 index ended at 24,353.55, gaining 156.80 points or 0.65 per cent, while the BSE Sensex closed at 78,493.54, up by 504.86 points or 0.65 per cent.

Market experts said the positive momentum was driven by easing tensions in West Asia and a reversal in FII flows into net buying territory.

Market Drivers

Vinod Nair, Head of Research at Geojit Investments Limited, "The domestic market closed the day higher, supported by improving prospects of a Middle East resolution and a reversal in FII flows into net buying. A ceasefire between Israel and Lebanon helped keep crude below USD 100 per barrel, easing pressure on import-dependent economies." He added that the rupee strengthened during the session, aided by Reserve Bank of India measures and softening geopolitical tensions.

Sectoral Performance

Sectorally, all indices on the NSE ended in positive territory. Nifty FMCG led the gains with a sharp rise of 2.65 per cent, supported by price hikes, strong business updates and valuation comfort. Nifty Media surged 1.39 per cent, while Nifty Metal gained 1.06 per cent. Nifty PSU Bank rose by 0.70 per cent, and Nifty Realty index jumped more than 1 per cent. Nifty Auto also edged higher by 0.20 per cent.

Commodities Market

In the commodities market, Brent crude prices remained on a downward trend, trading at USD 96 per barrel at the time of filing this report, providing some relief to inflation concerns. Gold prices remained largely flat at Rs 1,53,173 per 10 grams for 24 karat, while silver prices rose by 1.46 per cent to Rs 2,52,220 per kg.

Global Market Cues

Meanwhile, global cues remained mixed. Most Asian markets ended lower, with Japan's Nikkei 225 index declining by more than 1 per cent to 58,919. Singapore's Straits Times index fell by 0.20 per cent to 4,997, while Hong Kong's Hang Seng index declined by 0.75 per cent to 26,198. Taiwan's weighted index slipped 0.89 per cent to 36,804, and South Korea's Kospi index fell 0.55 per cent to 6,191.

Future Outlook

Experts noted that while improving geopolitical conditions supported markets, the ongoing Q4 earnings season will remain a key factor for market direction and FY27 outlook. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Energy shock triggers global market selloff; India remains resilient

Asianet News Central — Fri, 17 Apr 2026 15:30:58 +0530

A sharp global energy shock and rising stagflation risks triggered a synchronized selloff across global asset classes in March 2026, though Indian markets demonstrated relative resilience against a backdrop of record foreign outflows.

Energy Shock Triggers Global Correction

According to PL Asset Management, the asset management arm of PL Capital Group, the month was defined by a systemic correction in equity markets worldwide after crude oil prices spiked 52 per cent following disturbances in the Strait of Hormuz. This surge in energy costs drove global inflation higher, compelling central banks to maintain a higher-for-longer interest rate policy. The resulting de-risking saw major indices tumble, with South Korea's KOSPI falling over 19 per cent and Japan's Nikkei declining more than 13 per cent. PL Asset Management noted that this regime change simultaneously impacted equities, bonds, currencies, and traditional safe-haven assets.

India's Market Correction and Expert View

As per firm, in India, the Nifty 50 recorded an 11.3 per cent decline during March. It described the move as a systemic correction rather than a sector-specific rotation, as risk aversion permeated the entire market. While leading sectors like PSU banks, realty, and automobiles faced significant pressure, defensive segments such as pharmaceuticals and FMCG failed to provide their usual cushioning effect.

Siddharth Vora, Head of Quant Investment Strategies and Fund Manager at PL Asset Management, said, "March 2026 marked a liquidity-driven, macro-led correction rather than a fundamental reset, with forced deleveraging amid an energy shock and tightening financial conditions. That said, the current setup increasingly reflects a late-stage correction, not the beginning of a prolonged downturn."

Domestic Inflows Counteract Record Foreign Outflows

The Indian market faced a record net outflow of approximately Rs 1.22 lakh crore from Foreign Institutional Investors (FIIs). However, this was largely offset by robust Domestic Institutional Investor (DII) inflows totaling Rs 1.43 lakh crore. Domestic economic fundamentals remained a pillar of support, with industrial production growing at 5.2 per cent and inflation staying within the Reserve Bank of India's target range.

Outlook: Indicators Signal Market Inflection Point

Vora further noted that, "Quantitative indicators -- breadth, sentiment, and positioning -- are in extreme oversold territory, historically associated with market inflection points, and past drawdowns of similar magnitude have delivered strong forward returns. Early signs of stabilization are emerging across key macro variables -- crude momentum is moderating, while the US dollar and bond yields appear to be peaking."

Favorable Valuations and Investment Strategy

The firm highlighted that the valuation reset has turned the risk-reward dynamic more favorable. The firm's "Value-Meter" index dropped to 0.18 in March, its lowest reading since the 2020 pandemic lows. Historically, such levels have preceded significant market recoveries over the medium term.

PL Asset Management suggested that while immediate risks persist, investors should focus on capital protection while gradually building exposure to quality segments where recent dislocations have created entry points. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Indian banks' asset quality resilient, NPAs near historic lows: Crisil

Asianet News Central — Fri, 17 Apr 2026 15:30:47 +0530

Indian banks are likely to keep asset quality under control over the next two years, with gross non-performing assets (NPAs) projected at 2.0-2.2 per cent by March 2027, only a shade higher than the estimated historic low of 2.0 per cent as of March 2026, according to ratingas agency Crisil Ratings.

The resilience will be led by strong corporate balance sheets, even as the MSME segment faces pressure from the ongoing West Asia conflict. Crisil's base case assumes the conflict-led disruption and stabilization will last 3-4 months in the current fiscal, moderating GDP growth to 7.1 per cent this year from 7.6 per cent last year, with risks tilted to the downside. Yet, the banking sector's overall NPA trajectory is expected to remain "range-bound."

Corporate Sector Resilience

The corporate segment, which made up 36 per cent of bank credit in March 2026, is expected to see stable gross NPAs of 1.2-1.3 per cent by March 2027, in line with an estimated 1.2 per cent as of March 2026. This is despite multiple sectors facing hits from the gas supply shock, crude-linked cost increases, direct trade exposure, and rupee depreciation.

Crisil said India Inc's healthier balance sheets are the key buffer, with gearing at 0.53x as of March 31, 2026 and interest coverage at 5.2x in fiscal 2026 -- a sharp improvement from 1.1x and 2.9x a decade ago. A Crisil stress test of 30 sectors, covering 65 per cent of rated corporate debt exposed to the conflict, shows 23 sectors will see limited impact on credit profiles. Six could see a moderately negative impact and only one, ceramics, faces an adverse impact. Together, the seven impacted sectors account for less than 7 per cent of rated corporate debt.

Pressure on MSME Segment

The MSME segment, 19 per cent of bank credit, is more exposed. Crisil projects gross NPAs in MSME loans to rise modestly to 3.4-3.6 per cent this fiscal from 3.2 per cent last fiscal. "MSMEs typically have limited financial muscle to absorb higher input costs, supply-chain disruptions and working capital elongation resulting from the ongoing West Asia conflict," said Subha Sri Narayanan, Director, Crisil Ratings.

However, government and regulatory measures, including the recently announced RELIEF scheme, are expected to limit stress. Crisil also expects additional support, such as credit guarantee schemes for affected sectors, similar to Covid-era interventions. As a result, the uptick in MSME NPAs will be driven largely by seasoning of the portfolio, which grew at a 20 per cent CAGR over the past three fiscals. Earlier, MSME NPAs had declined due to better underwriting, rising formalisation, and healthier bank balance sheets that allowed higher write-offs.

Steady Outlook for Retail Loans

Retail loans, 33 per cent of bank credit, should see gross NPAs steady at 1.1-1.3 per cent this fiscal. Housing loans, over 45 per cent of the retail book, continue to show healthy asset quality with gross NPAs at 1 per cent.

In the unsecured segment, which is over a quarter of retail advances, banks have taken corrective steps and newer vintages are performing better. "As these newer vintages constitute an increasing share of the book, gross NPAs in this segment should not rise materially above the current 1.8 per cent," said Vani Ojasvi, Associate Director, Crisil Ratings. Still, early-bucket delinquencies in unsecured loans warrant attention given rising household debt.

Agriculture Portfolio Monitorable

Agriculture, 12 per cent of credit, remains sensitive to rainfall. With monsoons expected to be below normal for the first time in 11 years, the portfolio is monitorable.

Crisil stressed that asset quality will stay range-bound in the base case, but "the duration and intensity of the West Asia conflict, as well as government and regulatory measures to manage its impact, will bear watching." For now, strong corporate metrics, policy backstops for MSMEs, and a stabilising unsecured retail book should help banks keep NPAs in check through March 2027. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

India's CAD may hit 2% of GDP on higher oil prices, says Crisil

Asianet News Central — Fri, 17 Apr 2026 15:30:20 +0530

India's current account deficit (CAD) is likely to touch 2 per cent of GDP under higher oil price scenarios, according to a report by Crisil.

CAD Projections and Oil Price Scenarios

The report stated that in its base case scenario, assuming exports benefit from US tariff relaxations and crude oil prices average between USD 75-80 per barrel, the CAD is expected to widen to 1.5 per cent of GDP in fiscal 2027, compared to a projected 0.8 per cent in fiscal 2026. However, in an alternate scenario where crude oil prices stay at USD 82-87 per barrel, which the report noted appears plausible given current global conditions, the CAD could increase to 2.0 per cent of GDP. It added that a healthy services trade surplus is expected to limit the extent of the widening deficit.

It stated, "If oil price were to rise to USD 82-87/bbl, which is our alternate case and looks plausible now, then the CAD could rise to 2.0 per cent of GDP".

Global Risks and Export Outlook

The report highlighted that the ongoing West Asia conflict and its duration and scale remain critical factors to monitor, as they could significantly impact global trade and commodity prices. Elevated uncertainties and subdued global growth, particularly in the case of supply shocks, may weigh on exports despite some expected support from reduced US tariffs.

Trade Performance and Export Challenges

On the trade front, India's goods exports contracted 7.4 per cent year-on-year to USD 38.9 billion in March, compared to an average growth of 0.3 per cent in the three months ended February. The report mentioned that the decline was partly attributed to a high base effect due to export frontloading last year ahead of anticipated US tariff hikes, as well as the impact of the West Asia conflict.

Sector-Specific Declines

The contraction in exports was led by a sharp 29.3 per cent drop in gems and jewellery exports. The report noted that the United Arab Emirates has recently emerged as India's top destination for gems and jewellery exports, surpassing the United States.

Core Exports and US Trade Relations

Core exports also declined 7.5 per cent year-on-year, indicating broad-based pressure. Despite these challenges, exports to the United States showed some improvement, rising to USD 8 billion in March from USD 6.6 billion in February. This was supported by progress in trade discussions, with US tariffs on Indian goods reduced from 50 per cent to 18 per cent and subsequently to 10 per cent. However, the report cautioned that uncertainties around the trade deal remain. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Gautam Adani vs Mukesh Ambani: Net Worth, Rankings & Who’s Richer Now

Gargi Chaudhry — Fri, 17 Apr 2026 15:20:00 +0530

The founder and chairman of the Adani Group, Gautam Adani, is now Asia's richest person. The chairman and managing director of Reliance Industries, Mukesh Ambani, has been surpassed by the billionaire. This follows increases in the stock prices of the Adani Group. Before this change, Ambani was the richest person in Asia for a long time. According to the Bloomberg Billionaire Index, Ambani's worth is currently about $90.8 billion, whereas Adani's is $92.6 billion. The two tycoons are among the world's 20 richest individuals.

It's interesting to see that Adani Group firms' share prices increased today. The price of Adani Power's shares increased by over 1%. Adani Total Gas has increased by more than 2%. Adani Ports & Special Economic Zone had a 1.6% increase, while Adani Green Energy saw a 0.44% rise. Numerous other Adani companies were also doing well.

However, since wealth numbers are dependent on stock prices and company success, the ranking frequently shifts. As a result, the change reflects fluctuations in international markets. While Adani Group's businesses include infrastructure, energy and logistics. The Reliance Industries -- led by Ambani -- is strong in energy, telecom and retail.

Major Reshuffle In Billionaire's Index

The restructuring coincides with a larger pattern in which the wealthiest people in the world have seen changes in their fortunes. This year, seven of the top 20 billionaires have seen decreases. With a $44 billion loss, Bernard Arnault has seen the biggest decline. Steve Ballmer, Larry Ellison, Bill Gates, Warren Buffett, Amancio Ortega, and Mukesh Ambani are among others who have experienced failures.

Who Is The Richest Man?

With a net worth of $656 billion, Elon Musk still leads the world rankings, followed by Larry Page at $286 billion. Jeff Bezos, Sergey Brin, Mark Zuckerberg, Larry Ellison, Michael Dell, Jensen Huang, Bernard Arnault, and Jim Walton are among the other names in the top ten.

The most recent change between Adani and Ambani highlights how fiercely fought the top positions are, with market fluctuations still affecting the distribution of power among the wealthiest people on the planet.

India a stable global capital hub with market cap of USD 4.4tn: SEBI

Asianet News Central — Fri, 17 Apr 2026 15:00:29 +0530

India is increasingly recognized as a stable global capital hub with its market capitalization reaching USD 4.4 trillion and a total of USD 154 billion raised through equity and debt markets in FY26, according to Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey.

Speaking at a high-level interaction organized by the Confederation of Indian Industry (CII) and the US-India Business Council (USIBC) on the sidelines of the IMF-World Bank Spring Meetings, Pandey highlighted the resilience of Indian markets despite global volatility. The interaction brought together global investors and financial institutions to examine the evolving framework of India's capital markets.

India's Market Performance and Scale

Pandey noted that the market capitalisation is currently at about USD 4.4 trillion. In the year 2025, India ranked first globally in IPO volumes and third in capital raised. Over USD 154 billion has been raised through equity and debt markets in FY26, while mutual fund assets under management are approaching USD 900 billion, with Alternative Investment Fund (AIFs) commitments having crossed USD 175 billion.

The Chairman noted that the country's financial architecture now serves as a primary driver of economic growth, supported by a projected GDP growth of 7.6 per cent for the current fiscal year. He detailed the depth of the market, pointing out that India ranked first globally in IPO volumes and third in capital raised during 2025. Pandey stated that India's capital markets have evolved into a structural pillar of the country's financial architecture, capable of mobilising capital at a global scale. India's GDP growth is projected at 7.6 per cent in FY26.

A Standalone Investment Destination

The discussion emphasized that India is no longer viewed merely as an emerging market but as a standalone investment destination. This shift is supported by institutional credibility and a diversified sectoral mix that includes technology, healthcare, and energy. Foreign Portfolio Investor (FPI) assets now stand near USD 780 billion, representing approximately 17 per cent of listed equity. Additionally, the corporate bond market is nearing USD 650 billion in outstanding value, providing critical financing for infrastructure.

Key Reforms and Regulatory Framework

Pandey highlighted that the approach focuses on achieving an optimal balance between investor protection, market development, and market integrity. Key reforms include the implementation of T+1 settlement cycles, streamlined IPO timelines, net settlement mechanisms for foreign portfolio investors, easing investment access for global investors, and strengthened governance frameworks for market infrastructure institutions.

Future Outlook and Simplification Efforts

Looking ahead, the regulator intends to simplify access for international participants. Pandey confirmed that SEBI is working on reviewing regulations to ease the registration process for foreign investors and harmonizing Know Your Customer (KYC) processes across different regulators. These efforts include the establishment of a dedicated digital portal for foreign investors and easing KYC norms specifically for Non-Resident Indian (NRI) investors to strengthen the private capital and derivatives markets.

The participants noted that India remains a reliable anchor for global capital. While challenges regarding secondary market liquidity and taxation remain topics for future development, the expansion of alternative investment funds continues to provide necessary risk capital for emerging sectors like deep tech and climate technologies. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

India's PNGRB opens bidding for new LPG pipeline infrastructure

Asianet News Central — Fri, 17 Apr 2026 14:30:18 +0530

The Petroleum and Natural Gas Regulatory Board (PNGRB) of India on Friday said it has opened bidding for the development of Liquefied Petroleum Gas (LPG) pipeline infrastructure in a significant way to eliminate bulk movement to the extent possible.

According to the press release by the regulatory body, the proposed pipelines are designed to connect key supply sources, including refineries and import terminals, with LPG bottling plants, thereby ensuring seamless evacuation and distribution of LPG across multiple regions.

Key Project Initiatives

"As part of this initiative, 9 LPG pipeline projects were identified for development. PNGRB initiated the Sou-Moto proposal & carried out bidding for these pipelines. Currently, PNGRB is in the process of concluding bid proposals of four pipelines," the press release said.

The cumulative length of these proposed pipelines will be 2500 km, reflecting the scale and strategic importance of the initiative.

Proposed Pipeline Corridors

Cherlapally-Nagpur pipeline, Shikrapur - Hubli - Goa pipeline, Paradip - Raipur pipeline, and the Jhansi - Sitarganj pipeline are the four proposed pipelines.

The board aims to abolish the road transportation of bulk LPG by 2030. The new pipelines would attract a tentative investment of Rs 12,500 crores.

Enhanced Safety and Reduced Risks

"In view of precedent accidents associated with LPG transportation by road, the modal transfer from road to pipelines would reduce risks involved in road transportation, ensuring safer and more dependable delivery," the board said.

Environmental and Economic Advantages

The board added that eliminating the bulk transportation of LPG through this project would significantly reduce greenhouse gas emissions and contribute to to India's climate goals by replacing fuel transportation via tankers with an efficient pipeline system.

It further added that the project is expected to enable seamless, high-volume LPG movement with reduced transit time and minimal losses. These pipelines would not only improve safety and efficiency in the supply chain but also would prove to be more economical over other modes of transportation. It would attract investment, generate employment, and support regional development.

(ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

IOCL gets PNGRB nod for Kochi-Kanyakumari-Thoothukudi gas pipeline

Asianet News Central — Fri, 17 Apr 2026 14:01:33 +0530

The Petroleum and Natural Gas Regulatory Board (PNGRB) has granted authorization to Indian Oil Corporation Limited (IOCL) for the Kochi-Kanyakumari-Thoothukudi Natural Gas Pipeline (KTPL).

Pipeline Project Details

The company in an official statement said that the pipeline will start from the Kochi LNG Terminal in Kerala and extend to Thoothukudi in Tamil Nadu. It will be about 425 km long and have a capacity of 6.84 MMSCMD. The project aims to strengthen gas infrastructure in southern India. It will help transport regasified LNG to demand centres in Kerala and southern Tamil Nadu.

Impact on Regional Gas Supply

PNGRB said that, "The project is expected to play an important role in enabling the expansion of City Gas Distribution (CGD) networks, as well as supplying natural gas to industrial consumers, power plants and other downstream sectors in the region."

The pipeline is likely to improve gas availability, boost cleaner fuel use, and support the government's goal of increasing the share of natural gas in the energy mix. It will also help expand PNG and CNG supply to homes, businesses and transport.

Authorization and Bidding

The authorization was awarded after a competitive bidding process, with IOCL emerging as the successful bidder.

PNGRB said it remains committed to developing a strong and integrated national gas grid to support sustainable growth.

Company noted that the authorization follows a competitive bidding process undertaken by PNGRB in accordance with the applicable regulatory framework. After evaluation of the technical and financial bids received, Indian Oil Corporation Limited emerged as the successful bidder for the project.

Strengthening India's National Gas Grid

With this, the Petroleum and Natural Gas Regulatory Board remains committed to facilitating the development of robust natural gas infrastructure across the country and to promoting the creation of an integrated and resilient national gas grid, which is essential for ensuring sustainable economic growth and advancing India's transition towards a cleaner energy future. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

IICA starts induction training for IFSCA Assistant Managers in Manesar

Asianet News Central — Fri, 17 Apr 2026 14:01:00 +0530

The Indian Institute of Corporate Affairs (IICA) initiated a one-week induction training programme for Assistant Managers of the International Financial Services Centres Authority (IFSCA) at its campus in Manesar. The session, which began on April 13 and concludes on April 18, 2026, focuses on providing a comprehensive understanding of corporate laws, governance frameworks, and financial regulations. This initiative, as per the Ministry of Corporate Affairs, functions as a practical step toward strengthening the nation's international financial services ecosystem.

Strengthening India's Financial Ecosystem

The training followed a Memorandum of Understanding (MoU) signed on February 20, 2026, at GIFT City, Gujarat, between Gyaneshwar Kumar Singh, Director General and Chief Executive Officer of IICA, and K. Rajaraman, Chairperson of IFSCA, aimed at strengthening India's international financial services ecosystem through capacity building, policy research, and knowledge partnership.

Inaugural Address Highlights

Gyaneshwar Kumar Singh delivered the inaugural address, sharing his insights on the future of IFSC regulation and the path forward for the sector. "The creation of a unified regulator within a short span of five years is nothing short of a 'miracle' and a testament to India's regulatory foresight," Singh noted during his address.

In his address, Singh highlighted the importance of fostering innovation through fintech and underscored the role of IFSCA in contributing to the vision of Viksit Bharat. He stressed that officers must develop a strong understanding of multidimensional regulatory frameworks, including laws governed by authorities such as SEBI and PFRDA, to effectively regulate and guide the evolving financial ecosystem. Further, he encouraged participants to make the most of the week-long programme through productive and immersive learning, ensuring practical understanding alongside theoretical knowledge.

Programme Structure and Practical Exposure

The programme proceeded with a Welcome Address by Neeraj Gupta and a detailed Programme Overview by Pyla Narayana Rao, highlighting the structure, objectives, and expected outcomes of the training.

As part of the programme, the participants are also visiting Sansad Pride on 16th and 17th April 2026, aimed at providing them with practical exposure to parliamentary proceedings and legislative processes, thereby enriching their understanding of governance and regulatory functioning.

Expert-Led Training Curriculum

The training programme features expert-led sessions by eminent professionals and academicians covering a wide range of topics, including corporate governance, securities regulations, corporate finance, financial reporting, cross-border insolvency, and IFSC-specific regulatory frameworks.

The initiative reflects IICA's continued commitment to capacity building and policy support for regulatory institutions, while reinforcing its role as a premier think tank under the Ministry of Corporate Affairs.

The programme will conclude on 18th April 2026 with a valedictory session and certificate distribution ceremony.

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

MeitY selects 10 Indian AI startups for Global Acceleration Programme

Asianet News Central — Fri, 17 Apr 2026 14:00:48 +0530

The Ministry of Electronics and Information Technology (MeitY) on Friday said it has selected 10 cutting-edge Indian artificial intelligence startups for the second cohort of the IndianAI Startups Global Acceleration Programme, an international initiative developed in partnership with Station F, Paris and HEC Paris.

According to the press release by the Ministry, this move is in tandem with its aim for advancing India's AI capabilities on the world stage under the IndiaAI Mission.

About the Global Acceleration Programme

The IndiaAI Startups Global Acceleration Programme was initiated by the IndiaAI Mission, MeitY, under its Startup Financing Pillar, in collaboration with Station F, the world's largest startup campus and HEC Paris, one of Europe's premier business schools. Each cohort equips 10 selected Indian AI startups with resources, expertise and strategic connections necessary to scale internationally.

Strategic Alignment and Goals

"The program aligns with India's National AI Strategy, emphasising cross-border knowledge exchange, exposure to advanced entrepreneurial ecosystems and global market integration. By facilitating access to international markets, fostering innovation and attracting global investments, the initiative supports India's vision of becoming a leader in AI-driven solutions," the press release said.

Selected Startups for Second Cohort

AI Health Highway India Private Limited, Awiros, Cognecto Flaunt, GreenFi.ai Climateforce Technologies Private Limited, Infiheal Healthtech Private Limited, Infiheal Healthtech Private Limited PredCo, SkyServe Hyspace Technologies Private. Limited, and TestAIng Solutions Private Limited are the ten startups selected through a rigorous multi-stage selection process and will represent India's dynamic AI innovation ecosystem at Station F, for an immersive programme designed to support their global scale-up, the Ministry said.

Programme Structure and Benefits

The programme includes a three-week online preparation module followed by a three-month immersive residency in Paris, France. This initiative forms a part of the IndiaAI Mission's broader vision to catalyze India's leadership in responsible, scalable and inclusive AI. Designed by HEC Paris, the programme will provide startups with unparalleled access to resources, mentorship and networking opportunities with leading French and European ecosystem players during their residency. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

15th round of commercial coal mine auctions launched for energy security

Asianet News Central — Fri, 17 Apr 2026 14:00:26 +0530

The Ministry of Coal announced the launch of the 15th round of commercial coal mine auctions on Friday during a stakeholder consultation aimed at achieving energy security. Secretary of the Union Ministry of Coal, Vikram Dev Dutt, noted that the government remains focused on meeting the coal requirements of a growing economy. He mentioned that production must continue to increase to support the power sector and broader economic growth.

"I need not labour the point as to why we need to utilize our very abundant coal reserves because in a growing economy with a growing appetite, multiple sectors, power sector and all other sectors which drive the economy. There is no gain in only saying that coal production has to ascend the trajectory at the rate at which it is ascending and possibly further accelerate the growth trajectory," he said addressing the 'Atmanirbhar Bharat: Coal for Energy Security' consultation.

Sustainable Mining and Community Engagement

The Secretary also discussed the importance of mine closure and community engagement. He said the goal is to create a harmonious ecosystem that restores livelihoods and economic opportunities after mining activities finish. "It's the co-creation of a very livable habitat, restoring livelihoods, restoring economic opportunities and after mining is done, even in a progressive way, assumes very important dimensions," Dutt explained.

Exploring New Frontiers: Coal Gasification

The consultation also covered the progress of coal gasification projects under the viability gap funding scheme approved in early 2024. Dutt highlighted that the ministry is now exploring underground coal gasification to utilize reserves that are otherwise difficult to mine. "We are also exploring the dimension of underground Coal gasification because we have 42% of our reserves which are deep seated where conventional underground mining is not economical. So underground coal gasification also for the first time blocks had been offered in the previous round of options and a small beginning is being made there as well. So while we are doing that concurrently, we lost more time in also evolving a framework for underground coal gasification for which of course we received some very useful suggestions," Dutt said.

Policy Reforms and Private Sector Participation

"The credit for this goes to the government led by Honourable Prime Minister Narendra Modi ji, who started the structural reform story in the coal sector from 2014 onwards," he said.

Dutt also noted that the 2020 framework for commercial coal mining played a critical role in involving private players. "In the past year, we've had continuous rounds of very, very intensive interaction across multiple forums on multiple occasions. And you would also testify that in the last year we have significantly pressed the pedal on reform, on structural reform," Dutt said.

Evidence of Success

The Coal Secretary stated that the success of previous auction rounds serves as evidence of a functioning policy environment. He pointed to the steady rise in the number of bids and premiums as a sign of industry confidence. "The proof of the pudding as they say is always in the eating. So today we are launching the 15th round of commercial options, coal block options and with each successive round it is very gratifying to see that the number of participants, the number of bids and the premiums in the options has steadily risen," he said.

Collaborative Policy-Making

Dutt emphasized that the ministry does not develop policies in isolation; instead, it maintains a collaborative approach with industry participants. "The back room effort is always a collective and collaborative effort. It is not the Ministry of Coal sitting in a vacuum and rolling out a thought process. It is at every step, suggestions and contributions from you that have helped us evolve a framework which is continuously being nuanced," Dutt noted. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

India's ambitious plan: 100 GW nuclear power capacity by 2047

Asianet News Central — Fri, 17 Apr 2026 14:00:26 +0530

India has set a target to scale up its nuclear power capacity from the current 8.8 gigawatt (GW) to 100 GW by 2047, implying an over ten-fold increase, Central Electricity Authority (CEA) Chairperson Ghanshyam Prasad said on Friday.

"A report was made on how do we really achieve 100 gigawatts of nuclear energy by 2047. Today, there is a capacity of 8.8 gigawatt. We have to increase it to 100 gigawatt. That means more than 10 times we are going to increase. It's going to be a good pace at which it has to be developed," Prasad said.

Roadmap and Legislative Framework

Prasad stated this on the sidelines of the Inaugural Session to Focus on India's 100 GW Nuclear Power Roadmap held on the national capital. He said that when the roadmap was prepared, several requirements were identified, including legislative changes, and added that further work is underway to operationalise the framework.

He said that when this roadmap was made, several things were envisioned with achieving 100 GW of energy at the core. The Shanti Act was one of them, and this has already been done. "But after the Act, more things have to be done. The rules have to be made, the procedures have to be made, the guidelines have to be made. All these things are being made now," he said.

Accelerating Implementation and Expansion

Prasad said the ongoing deliberations are focused on incorporating stakeholder feedback and accelerating implementation. "Today's deliberation is based on that. How quickly we can forward the money. We have to take the views of the stakeholders. We have to take the suggestions. After the suggestions, all these things will be formed," he said.

He added that efforts are also being made to simplify and standardise processes to reduce costs and improve execution. "There are some procedures that we have to shorten. We have to standardize it so that the tariff is less. We have to talk about fuel security. We have to talk about site selection. We have to talk about human resources," he said.

Highlighting the expected expansion in participation, the CEA Chairperson said the sector is likely to see multiple players going forward. "Right now, only one company is doing it. Tomorrow, 10-12 companies will start doing it. The pace of development is going to be very fast," he said, adding that relevant entities and other players may join as the programme progresses.

Reliability and Grid Resilience

On grid resilience, Prasad highlighted the reliability of nuclear power. "Nuclear is a very stable power. When it starts working, it keeps working for years without stopping. The plants keep tripping. Normally, there shouldn't be any problem. It's one of the safest, I'll say. And very, very stable. Very, very stable power," he said.

Future Challenges and Technologies

He also pointed to emerging technologies as a key challenge, particularly Small Modular Reactors (SMRs). "If we look at the challenges now, the whole world is talking about small modular reactors, whose technology is still being developed. So, definitely new technology is a challenge as of now," he said, adding that such technologies could support cleaner energy solutions.

Capacity Addition and State Role

On future capacity addition, he clarified that the planned expansion will primarily come from new plants. "We are talking about new nuclear plants only... All the existing ones will be there, the rest will be new," he said.

Prasad further said that states are being encouraged to identify land for upcoming projects. "We are pursuing the states to identify the site, so that we can't go there until they identify the land," he said, adding that tariff decisions will be based on demand. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Best Monthly Investment Plan: Smart Mutual Fund Tips to Grow Your Wealth Faster

Nancy Tiwari — Fri, 17 Apr 2026 13:20:53 +0530

Experts are breaking down the real math behind investment returns, comparing options like bank FDs, mutual funds, and the stock market to reveal what you can actually earn and which suits your financial goals.

Many people feel confused about where to invest. They often look at big return numbers but don’t understand the real profit after inflation and risks, which can lead to wrong financial decisions.

Bank FDs are considered one of the safest investment options. Currently, they offer around 6.5% interest. While your money stays secure, these returns usually just match inflation and don’t help in creating significant wealth.

Mutual funds are a better option for those looking for higher returns. On average, they can give 12% to 15% returns over time. In fact, anything above 12% is seen as a very good return in this category.

The stock market offers higher return potential but comes with higher risk. You can earn around 18–20% returns, but there’s also a chance of losing money if the market goes down or investments are not chosen wisely.

Trading and Futures & Options (F&O) are extremely risky. While some people make quick profits, many end up losing money. These options require strong knowledge, experience, and constant monitoring.

Crypto and Betting Apps

Cryptocurrencies and betting apps carry very high risk. Prices can change suddenly, and there is little control or stability. Many people lose money here, so it’s important to be very cautious before investing.

Paytm Foundation launches 2nd 'Wisdom on Wheels' bus in Odisha

Asianet News Central — Fri, 17 Apr 2026 13:00:31 +0530

Paytm (One 97 Communications Limited), India's full stack merchant payments leader serving MSMEs and enterprises, and a leading financial services distribution company, and the pioneer of mobile payments, QR codes, and Soundbox, announced that its CSR arm, Paytm Foundation, has inaugurated the second 'Wisdom on Wheels' mobile learning bus in collaboration with Veer Surendra Sai University of Technology (VSSUT).

The inauguration was held at VSSUT, Sambalpur, Odisha, in the presence of Union Education Minister Dharmendra Pradhan.

About the 'Wisdom on Wheels' Initiative

The 'Wisdom on Wheels' initiative aims to make computer education accessible to underserved students at their doorstep, making digital learning more accessible. This fully equipped mobile learning bus offers a certified Basic Computer Course, helping students learn essential technology skills and prepare for future opportunities. The program also supports the Government of India's vision of improving digital literacy and empowering youth across the country.

The bus will travel across schools, villages, and community centers in Sambalpur, ensuring access to quality education in regions where digital infrastructure remains limited. By bringing learning to students' doorsteps, Paytm Foundation aims to create meaningful and scalable impact.

Designed to deliver a seamless and engaging learning experience, the bus is equipped with computers, a printer, high-speed Wi-Fi, and a Smart TV or interactive panel for digital instruction. It is also fully air-conditioned, self-powered, and equipped with backup facilities, ensuring uninterrupted training even in remote areas while maintaining a secure and comfortable environment.

Endorsements for Digital Empowerment

Dharmendra Pradhan, Union Minister of Education, Government of India, said, "Reaching students with the right tools and knowledge can transform their future. Initiatives like 'Wisdom on Wheels' are commendable as they bring learning directly to students who lack access to such opportunities. This effort will help equip our youth with the skills needed to thrive in today's evolving economy."

A Paytm spokesperson said, "Equipping students with practical technology skills is essential in today's world. 'Wisdom on Wheels' brings structured computer education directly to communities, helping young learners take meaningful steps towards their future aspirations."

About Paytm Foundation

Paytm Foundation is a public charitable trust established for philanthropic purposes. The Foundation aims to promote social and economic empowerment of people and communities, and contribute towards environment sustainability, inclusion by intervening in the areas of education, environmental sustainability, skills development, Water, Sanitation and Hygiene (WASH), and disaster response.

Paytm Foundation has won several accolades, particularly, for its Covid-19 response work, such as the Prestigious Mahatma Award for COVID-19 Humanitarian Effort and ASSOCHAM CSR & Sustainability Award 2021 for Excellence in Community Support for COVID Relief. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Gautam Adani surpasses Mukesh Ambani to become Asia's richest person

Asianet News Central — Fri, 17 Apr 2026 12:31:21 +0530

Adani Overtakes Ambani as Asia's Richest

Gautam Adani has overtaken Mukesh Ambani to become Asia's richest person, according to the latest data from the Bloomberg Billionaires Index. As per the rankings released on Friday, Gautam Adani, Founder and Chairman of the Adani Group, now ranks 19th globally with a net worth of USD 92.6 billion.

In comparison, Mukesh Ambani, Chairman of Reliance Industries, stands at the 20th position with a net worth of USD 90.8 billion. The development comes as Adani's net worth witnessed a surge, helping him move ahead of Ambani in the global wealth rankings.

Global Billionaire Rankings

Globally, Elon Musk continues to lead the richest person list, holding the top position with a net worth of USD 656 billion. He is followed by Larry Page (Cofounder and board member, Alphabet) at USD 286 billion and Jeff Bezos (Amazon) at USD 269 billion. Other prominent names in the global rankings include Mark Zuckerberg (Meta) and Larry Ellison (Co-founder of software giant Oracle), reflecting the continued dominance of technology entrepreneurs among the world's richest individuals.

Adani Group's Expanding Portfolio

Adani Group, led by Gautam Adani, is India's largest integrated infrastructure group and has been expanding its footprint across multiple sectors. Traditionally focused on B2B segments, the group is increasingly entering B2C businesses. The group's diversified portfolio includes transport logistics, integrated energy infrastructure spanning generation, transmission and distribution, natural resources, airports, defence and aerospace, data centres, cement, media, roads, rail, metro, real estate, urban redevelopment, food FMCG, digital platforms and business incubation.

Adani's Milestones and Contributions

According to the Adani Group, Gautam Adani is India's first founder and first-generation entrepreneur to lead a business group to a market capitalisation of over USD 200 billion. He is contributing USD 7 billion to help upgrade healthcare, education, and skill development in rural India. He has also committed USD 70 billion to facilitate India's green energy transition.

With a combined current market cap of over USD 150 billion, the Adani Group is a portfolio of twelve publicly traded companies that follow the synergetic philosophies of Nation Building and Growth with Goodness. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

HSBC study: Women face financial guidance gap despite engagement

Asianet News Central — Fri, 17 Apr 2026 12:30:39 +0530

Women are actively engaged in managing their finances but continue to face gaps in financial guidance, so a more tailored, life-stage-based advisory solution is needed, according to a study report by HSBC.

The study was conducted to understand how women, particularly affluent women, engage with financial planning and how effectively existing financial systems and advisory models meet their evolving needs.

The 'Fluency Gap': A Disconnect in Financial Support

The report challenges the long-standing perception that women lack confidence in financial decision-making. Instead, it finds that women are intentional about wealth management, with nearly half of affluent women beginning to take finances seriously in their 20s or earlier. However, despite this engagement, the report identifies a significant disconnect, termed as the "Fluency Gap," where fewer than half of affluent women feel supported by their financial advisors or institutions. This gap reflects a mismatch between traditional financial advice and the evolving financial realities faced by women. It stated, "One thing is clear.... women are not disengaged from wealth, they are intentional. Nearly half (45 per cent) of affluent women surveyed began taking finances seriously in their 20s or earlier. Despite this engagement, our research reveals another striking truth: fewer than half of affluent women feel supported by their financial institution or advisor. This disconnect is what we call the Fluency Gap".

Evolving Priorities Challenge Traditional Advice

The report explains that financial fluency goes beyond basic education and requires adaptable planning aligned with different life stages. It noted that static financial advice often fails to address dynamic needs such as career changes, caregiving responsibilities, and longer life expectancy.

Further, the report highlighted that women's financial priorities are not fixed and shift significantly over time. While early years may focus on savings and major purchases, later stages involve retirement planning, caregiving, and wealth transfer. This evolving nature of priorities creates challenges when advice assumes a single long-term goal.

Gaps in Preparedness and Confidence

In terms of preparedness, the report finds that many women feel underprepared for long-term financial needs. Less than a third feel prepared for ageing costs and long-term care, even among affluent women. Additionally, nearly two-thirds consider others, such as family members, in their financial planning, with 43 per cent prioritising financial security for loved ones.

Confidence Declines with Complexity

The report also points to differences in financial confidence, noting that confidence tends to peak early but declines as financial decisions become more complex over time. It suggests that this is not due to a lack of capability, but due to inadequate guidance suited to later life stages.

A Call for Personalised, Adaptable Guidance

Importantly, the report emphasises that women are not seeking more information but more relevant and timely advice. It calls on financial institutions to move beyond generic models and provide personalised, adaptable guidance that evolves with women's lives.

The report concluded that closing the fluency gap requires a shift towards dynamic, intentional, and intergenerational financial planning, enabling women to make informed decisions with clarity and confidence as their financial journeys evolve. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Vedanta was never highest bidder for Jaypee, Singhvi tells NCLAT

Asianet News Central — Fri, 17 Apr 2026 12:30:30 +0530

'False Narrative' Around Vedanta's Bid

Senior Advocate Abhishek Manu Singhvi, appearing for the Resolution Professional (RP) of Jaypee Associates, on Friday told the National Company Law Appellate Tribunal (NCLAT) that a "false and sensational narrative" is being created around Vedanta's being the highest financial bidder in the insolvency resolution process.

Singhvi submitted that claims suggesting Vedanta was once declared the highest bidder and later displaced are entirely unfounded and not supported by the record. He argued that this narrative has been repeatedly circulated in media reports, prior proceedings, and public discourse without any factual basis.

RP's Communication Misrepresented

Clarifying the record, Singhvi said that an email sent by the RP to all resolution applicants, including Vedanta, merely outlined that after the closure of the challenge process, all proposals would be evaluated holistically under prescribed criteria. The communication, he stressed, was procedural in nature and only disclosed net present value (NPV) figures, without declaring Vedanta as the highest bidder or indicating any reversal of status.

He termed the allegation a "misreading of the record," adding that the email was a routine and transparent communication shared with all stakeholders, and did not confer any "highest bidder" status on Vedanta.

Singhvi further contended that Vedanta in its arguments had selectively presented documents to create a misleading impression. He pointed out that a key email was portrayed as being addressed solely to Vedanta, while in reality it had been marked to all stakeholders, thereby distorting its context.

Comprehensive Evaluation Over Highest Bid

He emphasized that the resolution process required a comprehensive evaluation of all plans based on both quantitative and qualitative parameters, and not merely on the highest financial bid. Referring to the evaluation matrix, Singhvi noted that scores were assigned across multiple criteria, with the final assessment being composite in nature, in line with established insolvency norms.

Procedural Safeguards and Violations

Highlighting procedural safeguards, Singhvi said that once the challenge process concluded, the last submitted financial proposals became final and binding, with no scope for modification. Any revision thereafter, he argued, would violate the principles of fairness and a level playing field.

He submitted that Vedanta's revised proposal, submitted after the deadline and just before voting, amounted to an "ambush" and was in breach of the process. Despite this, the RP acted transparently by circulating the revised bid to all stakeholders and convening a meeting of the Committee of Creditors (CoC), he added. However, the CoC found the revision to be non-compliant and proceeded to vote on the original plans.

Allowing post-deadline changes, Singhvi cautioned, would set a dangerous precedent and undermine the integrity of the insolvency framework.

Primacy of CoC's Commercial Wisdom

He further argued that settled legal principles make it clear that no resolution applicant has a vested right to have its plan approved. Emphasising the primacy of the CoC's commercial wisdom, Singhvi submitted that judicial interference in such decisions is limited.

Supporting Arguments on Process Rules

Supporting these submissions, Senior Advocate Arun Katpalia, also appearing for the RP, argued that the process document explicitly barred any revision in financial proposals after the challenge process. He said Vedanta's addendum altered key elements of its bid, including upfront cash and equity infusion, which directly impacted evaluation criteria and scoring.

Katpalia further pointed out that Vedanta had participated in the CoC meeting on November 7, when plans were discussed, finalised and taken forward for voting, without raising objections. The revised proposal was introduced only on November 8th, in violation of the prescribed process, he said. He added that the CoC considered only the original, compliant plans, and the addendum could not be validly entertained under the rules.

Committee of Creditors will argue in the matter on Monday, April 20th.

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Gold Price Rises Again Before Akshay Tritiya on April 17: Check 22K, 24K Rates In Your City

Amrita Ghosh — Fri, 17 Apr 2026 11:31:24 +0530

Gold Price Today: Planning to buy gold before Akshaya Tritiya? You might be in for a shock. Prices are on the rise again today, April 17. The global market's ups and downs are clearly affecting gold rates. Check 22K, 24K Rates today

South India's major market, Chennai, is seeing the highest gold prices today. Here, 24-carat pure gold has touched ₹1,56,660 per 10 grams. If you're looking to buy 22-carat gold for jewellery, it will cost you ₹1,43,600. The rate for 18-carat gold is currently ₹1,19,800.

Gold prices in the nation's capital, New Delhi, and the city of Nawabs, Lucknow, are nearly identical. The price for 24-carat gold here is ₹1,55,720 per 10 grams. The 22-carat gold, which is most popular for weddings, is priced at ₹1,42,750, while 18-carat gold is at ₹1,16,830.

The shine of gold is bright in the financial capital, Mumbai, and the IT hub, Bengaluru. In both these cities, the rate for 24-carat gold is ₹1,55,570 per 10 grams. If you want to buy 22-carat gold for investment or jewellery, today's price is ₹1,42,600. Here, the price for 18-carat gold is stable at ₹1,16,680.

A slight difference is visible in gold prices in Bihar's capital, Patna. The latest price for 24-carat gold here is ₹1,55,620 per 10 grams. Customers will have to pay ₹1,42,650 for 22-carat gold, while the rate for 18-carat gold, used for lighter jewellery, is ₹1,16,730.

Demand for gold has not dropped in the markets of Kolkata and Hyderabad either. Here, the price of 24-carat gold remains at ₹1,55,570 per 10 grams. The rate for 22-carat gold is ₹1,42,600, and you'll need to spend ₹1,16,680 for 18-carat gold.

24-carat: ₹1,53,110 per 10 grams

22-carat: ₹1,40,250 per 10 grams

18-carat: ₹1,14,830 per 10 grams

14-carat: ₹89,570 per 10 grams

Disclaimer: The gold prices in this article are based on IBJA and market data, which can change at any time in the bullion market. Therefore, please confirm the latest prices with your local jeweller before making a purchase or investment. Making charges, GST, and other taxes may be added separately to your purchase. Always consult an authorized financial advisor before any investment.

India's Trade Deficit Pressure Persists Despite March Dip: Nuvama

Asianet News Central — Fri, 17 Apr 2026 11:30:48 +0530

Trade Deficit Outlook: A Temporary Reprieve

India's trade deficit outlook remains under pressure despite a temporary narrowing in March, with weak export momentum and rising import demand likely to keep the imbalance elevated in the near term, according to a report by Nuvama.

The report noted that India's goods trade deficit narrowed to USD 21 billion in March 2026 from USD 27 billion in February, primarily due to a decline in gold and oil imports. However, this improvement is seen as largely transient, with underlying weaknesses persisting. "Core deficit (excluding oil and gold) widened... pointing to continued structural pressures on the trade balance," the report highlighted.

FY26 Performance: A Record High Deficit

For the full financial year FY26, the trade deficit widened sharply to a record USD 333 billion, an increase of about USD 50 billion compared to the previous year. This pushed the goods deficit to around 8 per cent of GDP, up from 7 per cent in FY25, largely driven by elevated gold imports and steady growth in core imports.

Analyzing Export and Import Dynamics

Subdued Export Growth a Key Risk

The report underscored that export growth remains subdued, posing a key risk to the trade outlook. Goods exports grew just 1 per cent year-on-year in FY26, while services exports also moderated to 8 per cent from 12 per cent in the previous fiscal. In March specifically, goods exports contracted 7 per cent year-on-year, reflecting broad-based weakness across sectors. Even electronics exports, previously a strong driver, saw growth slow significantly.

Core Import Demand Remains Firm

On the import side, while headline growth moderated due to a high base, core imports (excluding oil and gold) remained firm, growing around 8-10 per cent, led by demand for machinery, electronics, and chemicals.

Future Outlook and Potential Risks

The report cautioned that global uncertainties could further weigh on India's export outlook. "A potential shift from supply-side disruptions to a broader global demand slowdown could pose additional downside risks," it said.

Despite these challenges, depreciation in the Indian rupee may provide some relief by improving export competitiveness and partially containing the trade deficit. Overall, the report suggests that while short-term fluctuations may offer temporary relief, India's trade deficit is likely to remain structurally elevated amid weak exports and resilient import demand. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Gold enters consolidation phase after retail buying surge: Jefferies

Asianet News Central — Fri, 17 Apr 2026 11:30:24 +0530

Global investment firm Jefferies in its latest report said that gold has entered a consolidation phase following a strong retail-driven buying surge seen late last year and early this year across key markets including India, China and the United States.

The report noted that the earlier rally in gold demand, particularly from retail investors, has started to moderate, indicating a stabilisation in prices after a period of heightened activity. It stated, "gold has entered a healthy consolidation period after the retail-driven buying frenzy late last year and early this year".

Citing India as an example, the report highlighted that the country recorded gold imports worth USD 14.7 billion in October and USD 12.1 billion in January. However, this trend reversed sharply, with imports declining to USD 3.1 billion in March, reflecting a slowdown in buying momentum. Jefferies described the current phase as a "healthy consolidation period" after the earlier surge in demand, suggesting that the market is adjusting following the retail-led rally.

Gold Mining Sector Shows Discipline

From a gold mining perspective, the report noted a notable absence of excessive optimism at recent industry discussions. It highlighted that companies are focusing more on shareholder returns through rising dividends and stock buybacks rather than aggressive expansion strategies.

This marks a contrast with the previous bull market in gold mining stocks, which peaked in 2011, when significant capital was lost due to acquisitions made at the peak of the cycle. The report further noted that mining companies are showing continued discipline in capital allocation despite favourable price conditions.

The sector has recorded ten consecutive quarters of strong average gold prices, with many companies operating without debt. According to estimates cited in the report, the North American gold mining sector is expected to generate around USD 36 billion in free cash flow in the current calendar year.

Jefferies Maintains Exposure

Based on these trends, Jefferies said it will maintain its exposure to gold mining stocks, with weightings of 10 per cent in global portfolios and 11 per cent in Asia ex-Japan portfolios. The firm also indicated that it may increase its exposure if gold prices revisit the lower end of the current trading range, which it estimates to be between USD 3,800 and USD 4,000 per ounce, compared to the peak level of USD 5,595 per ounce recorded in late January. The current gold prices are trading at USD 4804 per ounce (1 ounce = 28.3495 grams)

So the report suggests that while the gold market is undergoing a phase of consolidation, underlying fundamentals in the mining sector remain strong, supported by disciplined capital management and robust cash flow generation. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Akshaya Tritiya: Buy 24K Digital Gold on PhonePe from trusted players

Asianet News Central — Fri, 17 Apr 2026 11:00:42 +0530

This Akshaya Triritya, PhonePe enables users to embrace the tradition of buying gold with its seamless, secure, and transparent Digital Gold offering. Users can purchase 99.99% purity-certified 24K Digital Gold on the PhonePe platform, from leading and trusted players in the digital gold space such as MMTC-PAMP, SafeGold and Caratlane.

Flexible Purchase and Payment Options

For added convenience, users can even choose to pay through multiple modes of payment such as UPI, UPI Lite, credit & debit cards, wallet and gift cards. According to the company, apart from one time purchase, PhonePe also empowers users to purchase Gold digitally via Daily or Monthly SIPs and helps customers save long term systematically. Customers also have the flexibility to save any amount (starting as low as Rs. 10) and sell their gold holdings anytime, with the money credited to their bank accounts.

Millions of customers across India have bought high purity 24K gold on the PhonePe platform.

How to purchase 24k Digital Gold on PhonePe

Here is a step-by-step guide to purchase 24k Digital Gold on PhonePe: Step 1: Open the PhonePe app, scroll down to Gold & Silver and tap on "More" Step 2: Tap on "Buy Gold" Step 3 : Enter the value you want to buy and click on "Proceed" Step 4: Tap Proceed to Pay (kindly ensure to do so before the 5 minute timer on your screen runs out). Step 5: Choose your mode of payment and click on Pay

About PhonePe

According to company information, PhonePe Limited (Formerly PhonePe Private Limited) is a technology company that builds digital platforms for Payments, Digital Distribution Services and Financial Services. Headquartered in India, the PhonePe digital payments app was launched in 2016. As of September 30, 2025, PhonePe has over 65 Crore registered users and a digital payments acceptance network spread across over 4.7 Crore merchants. PhonePe's products and services include Consumer Payments (including Digital Distribution Services), Merchant Payments, Lending and Insurance Distribution services, and New Platforms, which comprise Share.Market (stock broking and mutual funds distribution platform), and Indus Appstore (Android-based mobile app marketplace). (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Wipro to Vedanta: 10 Stocks Driving Market Buzz Today, April 17

Nancy Tiwari — Fri, 17 Apr 2026 10:24:29 +0530

The stock market is set for a buzzing Friday, April 17, with key stocks in focus due to recent developments. From Wipro’s buyback buzz to Angel One’s strong earnings, here’s what to watch.

Wipro Share

Wipro's profit may have dipped slightly by 1.9%, but the company surprised everyone by announcing a massive ₹15,000 crore share buyback. It will buy back shares at ₹250 per share. This is huge news for investors.

Angel One Share

The last quarter was fantastic for the broking firm Angel One. Its profit shot up by 83.5% to ₹320.2 crore. The company also saw a 38% jump in revenue. We can expect this stock to see some good momentum today.

Waaree Renewable Share

This solar sector company has posted 'powerful' results. Its profit grew by 66%, and it recorded a massive 131% jump in revenue.

HDFC Life Share

The company's profit has increased by about 5%. The good news is that the board has recommended a dividend of ₹2.10 per share. This is a positive signal for long-term investors.

Paras Defence Share

There's some big positive news for this defence sector stock. Paras Defence has tied up with a US company. Together, they will work on 'air-to-air refueling' technology for the Indian army. This strategic partnership could bring in big orders for the company in the future.

IHCL Share

Tata Group's Indian Hotels company is expanding very fast. They have now signed a new 'Gateway Hotel' project in Dirang, Arunachal Pradesh. This is a big step for the company's business, considering the growing scope of tourism in the North-East.

Alok Industries Share

Here's some slightly worrying news for investors in this Reliance-backed company. Its loss has widened to ₹192.54 crore, compared to about ₹74 crore during the same period last year. The poor results might affect the share price today.

Ashok Leyland Share

This heavy vehicle manufacturer has said that while demand for its trucks is very good in the Middle East, production at its UAE plant has slowed down due to supply chain problems. This is a mixed signal that traders will be watching closely.

Vedanta Share

Today might be a bit difficult for Vedanta. An FIR has been filed against the management after a tragic accident at the company's power plant in Chhattisgarh. This legal action and the plant's situation could negatively affect the stock's sentiment.

BCCL Share

Bharat Coking Coal Limited, a subsidiary of Coal India, has raised safety concerns. The company stated that its security system has failed to stop illegal mining in coal mines. Those tracking the coal sector should keep this news in mind.

Disclaimer: The information in this article is for educational purposes only. It is not any kind of investment advice or a 'buy-sell' call. Investing in the stock market is subject to risks. Before putting money in any share, please consult your financial advisor or a SEBI-registered market expert.

Indian shares open in red; Sensex down 41 pts, Nifty falls 34 pts

Asianet News Central — Fri, 17 Apr 2026 10:00:20 +0530

Indian equity benchmarks opened in the red on Friday, reflecting cautious investor sentiment amid mixed global cues, though markets showed signs of picking up pace shortly after the opening session.

The BSE SENSEX opened at 77,947.66 points, down by 41.02 points or 0.05 per cent at 9:17 am. Simultaneously, the NSE NIFTY 50 was recorded at 24,162.20 points, marking a decline of 34.55 points or 0.14 per cent.

Commodity Market Update

As of early morning on Friday, Brent Crude was trading at USD 98.12, down by USD 1.27 (-1.28 per cent). Similarly, Crude Oil slipped to USD 93.41, a drop of USD 1.28 (-1.35 per cent), indicating a bearish trend for the session. In contrast, Gold continued its bullish run, trading at USD 4,795.95, up by USD 7.43 (+0.16 per cent).

Global Market Performance

Global cues remained mixed as U.S. stock futures were largely unchanged on Thursday night after U.S. President Donald Trump confirmed that Israel and Lebanon have agreed to a 10-day ceasefire. S&P 500 futures edged up by about 0.1 per cent, while Nasdaq 100 futures traded near the flatline.

Futures linked to the Dow Jones Industrial Average rose by 98 points, or 0.2 per cent. During Thursday's regular trading session, all three major U.S. indices closed higher. The S&P 500 and Nasdaq Composite gained 0.26 per cent and 0.36 per cent respectively, both hitting fresh intraday and closing highs. The Dow Jones Industrial Average advanced by 115 points, or 0.24 per cent.

The S&P 500 has now erased losses incurred since the onset of the Iran conflict and moved higher following Trump's announcement that leaders of Israel and Lebanon agreed to the ceasefire after discussions in Washington. The temporary truce is set to begin at 5 p.m. ET, with further negotiations likely to take place next weekend.

Expert Analysis

Back home, market analysts attribute the cautious start to a mix of international developments and technical resistance levels. Ponmudi R, CEO of Enrich Money, said that while there were early signs of improving global sentiment, renewed tensions in the Middle East have added uncertainty. "Indian equity markets are expected to open on a cautious note, even as global sentiment shows tentative signs of improvement. While optimism around potential progress in U.S.-Iran talks had initially supported risk appetite, fresh developments around disruptions in the Strait of Hormuz have reintroduced uncertainty. Partial blockages and rising tensions along this critical oil route have kept global markets on edge, given that nearly 20 per cent of global oil supply passes through it," he said.

He further noted that as a major oil importer, India remains vulnerable to sustained spikes in crude prices, which could impact trade balance and corporate margins. "Brent crude, currently trading in the USD 94-100 per barrel range, remains highly sensitive to further escalation. Any disruption to supply could quickly push prices higher, posing a key risk for India. Foreign investor activity remains a crucial monitorable. After a phase of sustained outflows, recent sessions have shown signs of stabilisation and selective buying, offering some support to the market. Meanwhile, the ongoing earnings season is driving stock-specific movements," Ponmudi R added.

Technical Outlook for Nifty 50

On the technical front, he said the Nifty 50 is currently in a consolidation phase near the 24,100-24,200 range, with 23,800 acting as a strong support zone. "The index continues to witness range-bound price action, indicating a pause in momentum with a cautious undertone. The 24,300-24,400 range remains a key resistance zone. A sustained breakout above this band is essential to extend the rally towards the 24,800-25,000 levels," he said. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

FSSAI intensifies crackdown on calcium carbide for fruit ripening

Asianet News Central — Fri, 17 Apr 2026 09:00:28 +0530

The Food Safety and Standards Authority of India (FSSAI) has ordered strict enforcement across states to intensify action against illegal fruit ripening agents, reiterating that the use of calcium carbide for artificial ripening of fruits such as mangoes, bananas, and papayas is strictly prohibited.

Crackdown on Calcium Carbide ('Masala')

As per an FSSAI statement, the authority has directed all Commissioners of Food Safety in States and Union Territories, along with Regional Directors, to increase monitoring of fruit markets and storage facilities. The directive specifically targets the use of "masala," a common street name for calcium carbide, which is frequently used by traders to accelerate the ripening process.

"It is reiterated that use of calcium carbide ('masala') is prohibited under Regulation 2.3.5 of the Food Safety and Standards (Prohibition and Restrictions on Sales) Regulations, 2011, for use as artificial ripening agent in fruits like mangoes, bananas, and papayas etc. as it poses serious health risks such as difficulty in swallowing, vomiting, skin ulcer, etc," the official communication from the FSSAI stated.

Concerns Over Ethephon Misuse

The regulatory body also raised concerns regarding the misuse of ethephon solutions. While ethylene gas is often used as a ripening agent under specific safety protocols, the FSSAI noted that certain Food Business Operators (FBOs) are dipping fruits directly into chemical solutions, which is a violation of safety standards. "FSSAI's 'Guidance Note on Artificial Ripening of Fruits Ethylene gas - A Safe Fruit Ripener' strictly prohibits the direct contact of fruits/vegetables with ethylene (in powder or liquid form)," the statement read.

Enforcement and Legal Action

To ensure compliance, the FSSAI has also instructed officials to conduct special enforcement drives in wholesale markets and distribution centers. The presence of banned substances on-site will now be treated as grounds for immediate legal action against the operators.

"In view of the above, all Commissioners of Food Safety of States/UTs and Regional Directors of FSSAI are advised to intensify inspections and maintain strict vigilance over fruit markets/mandis, as well as storage facilities, wholesalers, and distributors, particularly where seasonal fruits are stored and the use of substances like 'masala' is suspected," the order said. "The presence of calcium carbide on the premises or alongside fruit crates may be treated as circumstantial evidence for initiating prosecution against the FBO under Section 59 read with Section 3(1)(zz)(iii) or Section 3(1)(zz)(vii) of the FSS Act, or other applicable provisions."

In addition to physical inspections, enforcement officials are authorized to use strip paper tests to detect the presence of acetylene gas in godowns or ripening chambers. The authority also warned against the unauthorized use of wax and synthetic colours on fresh produce during these drives. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Piyush Goyal Boosts Trade Ties with South Korea, Signs Pact with Austria

Asianet News Central — Fri, 17 Apr 2026 08:30:30 +0530

Union Minister of Commerce and Industry, Piyush Goyal, advanced India's trade agenda through a series of diplomatic engagements on Thursday, holding a virtual meeting with South Korean Trade Minister Yeo Han-koo and an in-person session with Austrian Federal Chancellor Christian Stocker. The meetings, focused on bilateral investment and technological synergy, resulted in the signing of a new mechanism aimed at accelerating business resolutions between India and Austria.

"A constructive meeting with Yeo Han-koo, Trade Minister of South Korea, on strengthening our bilateral economic cooperation. Reaffirmed our shared commitment to deepening trade & investment ties and advancing a comprehensive and mutually beneficial partnership," Goyal stated on X.

India-Austria Business Forum and FAST-TRACK Mechanism

On the European front, the Minister hosted Chancellor Stocker at Vanijya Bhawan, where both leaders co-chaired the India-Austria Business Forum. The session, which included the Austrian Federal Minister of Economy, Energy and Tourism, Wolfgang Hattmannsdorfer, focused on integrating Indian skilled labour with Austrian technical expertise. "Delighted to welcome and host Dr. Christian Stocker, Federal Chancellor of Austria, at Vanijya Bhawan, and to co-chair the India-Austria Business Forum alongside the Federal Minister of Economy, Energy and Tourism of Austria, Mr. Wolfgang Hattmannsdorfer. Encouraging to see growing interest from businesses on both sides to deepen integration, leveraging India's strengths & skilled workforce in synergy with Austrian technology. Both sides signed the FAST-TRACK Mechanism for resolution of issues & increasing ease of doing businesses among the two nations. Reiterated that India, as the fastest-growing major economy with strong fundamentals, presents a compelling opportunity for Austrian businesses to expand, invest and partner for shared growth," the Minister said on X.

Strengthening Strategic Partnership

Earlier, the Austrian Chancellor called on President Droupadi Murmu at Rashtrapati Bhavan, underscoring the strengthening strategic partnership between the two nations. Welcoming Chancellor Stocker on his first visit to India, President Murmu said that India and Austria share close and friendly relations based on common values such as democracy and the rule of law.

The President said that in 2024, on the occasion of 75 years of the establishment of diplomatic relations between India and Austria, Prime Minister Narendra Modi's visit gave a new direction to their relations, leading to expanded cooperation in new areas such as innovation, renewable and clean energy, hydrogen, water and waste management, and AI.

President Murmu underlined that Chancellor Stocker's visit is taking place soon after the conclusion of the India-EU Free Trade Agreement. She expressed confidence that it will provide fresh momentum to India-Austria's growing trade and investment ties. She said that Austrian companies have vast opportunities to expand trade and investment in India, especially in emerging sectors such as semiconductors, green energy, and AI.

She highlighted that both India and Austria are knowledge-based economies and that there are immense possibilities to enhance bilateral cooperation in science, technology, and innovation. The President said that India has one of the world's largest start-up ecosystems. She said she was happy to note that the "India-Austria Start-up Bridge," launched in 2024, is strengthening bilateral cooperation in this area.

The two leaders agreed that this visit would provide momentum to all important dimensions of bilateral relations between India and Austria.

15 Agreements Solidify India-Austria Ties

Building on this diplomatic momentum, India and Austria on Thursday concluded 15 outcomes as part of the four-day official visit of Federal Chancellor Stocker. These agreements cover key areas including defence, technology, trade, innovation and skills development, with a focus on establishing a Joint Working Group on Counter Terrorism between the two nations. These outcomes were finalised following wide-ranging discussions between Prime Minister Narendra Modi and Chancellor Stocker in New Delhi, marking the first visit by an Austrian Chancellor to India in four decades.

Key Agreements Signed

Among the major agreements signed was the Agreement on Audiovisual Co-production, which will promote collaboration between the film industries of both countries, facilitating joint productions and cultural exchange.

To further boost business ties, both countries announced a Fast Track Mechanism for Indian and Austrian companies. This initiative is aimed at addressing investor concerns and improving the ease of doing business to capitalise on the newly concluded India-EU Free Trade Agreement. Both sides noted that the trade pact would create new opportunities for manufacturing, investment, and job creation.

With the conclusion of these 15 outcomes, India and Austria have set the stage for a more innovation-driven and future-ready partnership. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Adani Enterprises, Adani Green get CCI clean chit in SECI tender

Asianet News Central — Thu, 16 Apr 2026 22:00:30 +0530

The Competition Commission of India (CCI) has given a clean chit to Adani Enterprises Ltd and Adani Green Energy Limited in a case related to a Solar Energy Corporation of India (SECI) tender, finding no prima facie evidence of anti-competitive conduct or abuse of dominance.

In the order dated April 16, the fair trade regulator closed the case under Section 26(2) of the Competition Act, stating that "Upon consideration of the facts and circumstances of the present case, the Commission is of the view that there is no prima-facie case of contravention of provisions of Sections 3 and 4 of the Act warranting an investigation into the matter. Therefore, the matter is directed to be closed forthwith under Section 26(2) of the Act".

Allegations and CCI's Findings

The case pertained to allegations that the SECI tender for setting up solar manufacturing-linked power projects was designed to favour certain large players, including Adani Group entities, and that subsequent developments in the allocation of capacities distorted competition.

No Evidence of Collusive Bidding

However, the Commission, in its analysis, held that such allegations were not substantiated with evidence. It observed that "the Informant has not been able to furnish any evidence... that OP-5 (Azure Power India Private Limited) was only a cover bidder for OP-2 (Adani Green Energy Limited)," rejecting claims of collusive bidding.

Analysis of Market Dominance

On the issue of market dominance, the CCI noted that the broader power generation market in India comprises multiple players across sources such as coal, solar, wind and hydro. It stated that "the Adani Group, prima facie, does not seem to be a dominant player in the power generation market in India," highlighting the presence of other significant players like NTPC, Tata Power and JSW Energy.

The regulator further underscored that mere allegations of benefits such as economies of scale or group-level synergies do not establish abuse of dominance. "No cogent evidence has been produced by the Informant in this regard. As such, there is no clear evidence on record which may establish a dominant position or its abuse by OP-2." the order said

Tender Design and Specific Clauses

Addressing concerns around the design of the tender, the Commission reiterated that framing of tender conditions falls within the prerogative of the procurer. It found that "the Informant has not provided any cogent evidence of the RfS documents being designed in a manner that encourages participation of only big players in the market."

The CCI also dismissed objections related to specific clauses such as the 'Green Shoe Option', noting that such provisions did not restrict competition and were aligned with policy directions.

Bribery and Misconduct Claims

On allegations of bribery and misconduct cited by the Informant, the Commission held that such claims, even if assumed, "do not seem to qualify as an abusive conduct... within the meaning of Section 4 of the Act."

Concluding that the issues raised did not give rise to competition concerns, the Commission ordered that the matter be closed, bringing relief to Adani Enterprises and Adani Green Energy in the SECI-linked tender case.

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

India positioning as global clean energy player, says Jitendra Singh

Asianet News Central — Thu, 16 Apr 2026 20:00:48 +0530

Union Minister of State (Independent Charge) for Science and Technology, Jitendra Singh, on Thursday said India is steadily positioning itself as a global player in the clean energy landscape through a mix of policy support, technological innovation and industry participation.

India's Multi-Pronged Energy Strategy

Speaking at the World Hydrogen Energy Summit alongside the World Petrocoal Congress at the NDMC Convention Centre in New Delhi, the Minister highlighted India's multi-pronged approach towards energy transition, combining sustainability with energy security. He said India is simultaneously advancing green hydrogen, expanding nuclear energy capacity and strengthening renewable energy sources, while also building indigenous capabilities in key technologies such as electrolysers. Emphasising the role of partnerships, the Minister noted that scaling up clean energy initiatives will require strong public-private collaboration, supported by increased research funding and innovation-led growth.

Broader Energy Roadmap and Investments

Referring to India's broader energy roadmap, he said the country is targeting nearly USD 100 billion in oil and gas investments, expanding exploration areas to 1 million square kilometres and increasing the share of natural gas in the energy mix to 15 per cent. He added that India's refining capacity is also expanding, placing it among the leading nations globally.

National Green Hydrogen Mission

On the clean energy front, he said the National Green Hydrogen Mission, with an outlay of Rs 19,744 crore, has positioned India among frontrunners in developing alternative fuel ecosystems. He noted that green hydrogen will play a key role in decarbonising sectors such as steel and cement, while efforts are underway to reduce production costs through domestic innovation.

Push for Nuclear Energy

The Minister also highlighted progress in the nuclear energy sector, stating that the recently announced Nuclear Energy Mission aims to achieve 100 GW of nuclear power capacity by 2047. He said India has entered a new phase in its nuclear programme with indigenous technological advancements.

Development of Small Modular Reactors

He further said India plans to develop five small modular or small reactors by 2033, with work already underway on three, including a Bharat Small Modular Reactor, a Bharat Small Reactor based on heavy water technology, and a small-scale hydrogen-linked reactor.

Private Sector Participation and New Opportunities

The Minister added that recent policy reforms have opened up the nuclear sector for private participation, encouraging startups, MSMEs and industry players to contribute to clean energy expansion. He also pointed to emerging opportunities in green jobs and innovation across sectors such as electric mobility, battery recycling, grid management and renewable manufacturing, along with initiatives in the circular economy and ocean energy.

Jitendra Singh said India's demographic strength, technological capabilities and policy direction position it to play a key role in global decarbonisation efforts while ensuring sustainable growth and energy access. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Wipro announces Rs 15,000 crore share buyback at Rs 250 per share

Asianet News Central — Thu, 16 Apr 2026 19:30:27 +0530

IT company, Wipro Limited, on Thursday announced a share buyback worth Rs 15,000 crore at a price of Rs 250 per equity share, with the proposal approved by its Board of Directors, subject to shareholder approval.

Buyback Details and Offer Route

The company stated that the buyback will be conducted through the tender offer route on a proportionate basis, in accordance with the provisions of the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018 and the Companies Act, 2013.

According to the company, it plans to repurchase up to 60,00,00,000 equity shares of face value Rs 2 each, representing 5.7 per cent of its total paid-up equity share capital.

The aggregate buyback size is capped at Rs 150 billion (approximately USD 1.6 billion). The buyback price of Rs 250 per share is significantly higher than the company's closing price of Rs 210.26 on Thursday, offering a premium to shareholders. The record date for determining shareholder eligibility for the buyback is yet to be announced. The company also indicated that a portion of the buyback will be reserved for retail investors, with a retail quota of 9,00,00,000 shares.

Management Commentary

Commenting on the development, Aparna Iyer, Chief Financial Officer of Wipro, said the company has maintained strong financial performance and cash generation during the financial year. "We have continued to invest in our clients, capabilities and people and maintained our margins in narrow band. Our cash conversion continues to remain strong with operating cash flows at 112.6 per cent of net income for FY'26," she said.

"Additionally, in our recently concluded board meeting, the Board of Directors announced buyback of Rs 15,000 crore at a price of Rs 250, subject to shareholder approval," she said.

Rationale and Next Steps

The buyback is aimed at enhancing shareholder value and reflects the company's confidence in its financial position and future outlook. The proposal will now be placed before shareholders for approval through a postal ballot process.

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

RBI launches 49th round of Services, Infrastructure Outlook Survey

Asianet News Central — Thu, 16 Apr 2026 19:00:46 +0530

RBI Launches Survey for Services, Infrastructure Sectors

The Reserve Bank of India on Thursday launched the 49th round of its quarterly Services and Infrastructure Outlook Survey (SIOS) for the reference period April-June 2026, aimed at assessing business conditions and expectations in key sectors of the economy.

The survey focuses on capturing the current business situation for the first quarter of the financial year 2026-27 (Q1:2026-27) based on responses from selected companies in the services and infrastructure sectors. It also seeks to gather expectations for the following quarter (Q2:2026-27) and provides outlook projections for the subsequent two quarters (Q3:2026-27 and Q4:2026-27).

Key Indicators and Economic Assessment

RBI said, "The Reserve Bank has launched the 49th round of the quarterly Services and Infrastructure Outlook Survey (SIOS) for the reference period April-June 2026".

According to the central bank, the survey collects qualitative responses across a range of key indicators, including demand conditions, financial conditions, employment trends, and price levels. These insights are expected to help gauge the evolving business environment and provide inputs for economic assessment.

Survey Conduction and Participation

The Reserve Bank stated that the findings of the survey are released in a summary form on its official website on a regular basis. It also clarified that the identity of participating respondents is not disclosed, ensuring confidentiality.

For conducting the April-June 2026 round of the survey, the Reserve Bank has authorised Genesis Management & Market Research Pvt. Ltd.. The agency will reach out to selected companies to collect responses.

At the same time, the central bank has encouraged wider participation from companies across the services and infrastructure sectors. Interested firms can download the survey questionnaire from the Reserve Bank's website under the 'Survey' section and submit their responses through the prescribed contact details.

The quarterly survey is part of the Reserve Bank's broader effort to monitor sectoral trends and understand business sentiments across key segments of the economy. By capturing forward-looking expectations along with current assessments, the survey provides an important perspective on economic activity and potential trends in the near term. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Govt notifies Tata's Dholera SEZ for India's first chip fab plant

Asianet News Central — Thu, 16 Apr 2026 19:00:25 +0530

Tata to Establish India's First Chip Fab in Dholera SEZ

The government has formally notified that a Special Economic Zones (SEZ) will be set up by Tata Semiconductor Manufacturing Private Limited exclusively for Electronic Hardware and Software including IT/ITES at Dholera in Gujarat.

In an official statement the Union Ministry of Commerce & Industry on Thursday stated that the notified SEZ spans over 66.166 hectares of land, the facility at Dholera in Gujarat is expected to create nearly 21,000 jobs, marking it as India's first chip fabrication plant. The ministry added that the SEZ is designed to support electronic hardware, software, and IT-enabled services, and includes enabling infrastructure and a dedicated approval mechanism to streamline operations and logistics.

Government Reforms Boost Semiconductor Sector

Earlier, the government had taken several significant steps to strengthen India's semiconductor and electronics manufacturing ecosystem through progressive reforms in the Special Economic Zones (SEZ) law and targeted approvals of sector-specific SEZs. In line with the Government's focus, the ministry stated that these reforms are aimed at promoting high-value, capital-intensive investments, fostering innovation, and enhancing ease of doing business on developing a globally competitive semiconductor ecosystem.

The government has also done key amendments to the SEZ Rules, 2006 through the notification dated June 3, 2025 to address the unique requirements of semiconductor and electronics manufacturing, including reduction in minimum land requirement from 50 hectares to 10 hectares, flexibility in encumbrance norms, inclusion of free-of-cost supplies in Net Foreign Exchange calculations, and permitting domestic sales in the Domestic Tariff Area (DTA) on payment of applicable duties.

Other Key SEZ Approvals

Following through on these reforms, the Board of Approval for SEZs accorded approvals to major proposals of setting up of SEZs for semiconductor and electronics. Micron Semiconductor Technology India Pvt Ltd is establishing an SEZ for semiconductor Assembly, Testing, Marking and Packaging in Sanand, Gujarat, with an estimated investment of Rs 13,000 crore, while Aequs Group is setting up an electronic component manufacturing SEZ in Dharwad, Karnataka.

Building a Future-Ready Semiconductor Ecosystem

These projects are expected to catalyse the development of domestic value chains, generate high-skilled employment, and reduce import dependence.

These SEZs are envisaged to contribute to the gradual build-up of a robust, competitive, resilient, and future-ready semiconductor ecosystem. These initiatives, together with industry participation and policy support, are facilitating and paving a way for the creation of integrated manufacturing clusters, strengthening domestic capabilities, and positioning India as an emerging hub for semiconductor and electronics production. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

MoSPI launches PAIMANA dashboard for infra sector performance monitoring

Asianet News Central — Thu, 16 Apr 2026 17:30:28 +0530

The Ministry of Statistics and Programme Implementation (MoSPI) has launched a performance monitoring dashboard for infrastructure sectors, aimed at strengthening data-driven governance and evidence-based policymaking in the country.

The dashboard, developed under the PAIMANA (Project Assessment, Infrastructure Monitoring & Analytics for Nation-building) framework, provides a comprehensive view of infrastructure performance across six key sub-sectors -- power, civil aviation, telecommunications, railways, roads, and ports, shipping and waterways.

According to the ministry statement, the revamped framework replaces the earlier Online Computerised Monitoring System (OCMS-2006) and aligns with the Harmonised Master List of Infrastructure (2022) of the Department of Economic Affairs. The dashboard currently tracks 116 indicators across the six sub-sectors, offering a unified digital interface with interactive visualisation and time-series analysis for policymakers, researchers and stakeholders.

The ministry said the new approach marks a shift from measuring sectoral outputs to assessing multi-dimensional performance, including access, quality, fiscal cost and revenue, utilisation, and affordability.

Sector-wise Performance Highlights

Civil Aviation

In the civil aviation sector, 163 aerodromes are operational, while passenger traffic reached 20.2 crore in FY 2025-26 (up to September), reflecting sustained demand.

Power Sector

The power sector recorded an installed capacity of 4,75,211 MW in FY 2024-25, with strong capacity utilisation and minimal peak demand deficit of 0.03 per cent.

Telecommunications

Telecommunications continued to expand, with average wireless data usage rising to 25.2 GB per subscriber per month and tele-density improving to 91.7, indicating deeper digital penetration.

Roads Sector

In the roads sector, 4,989 km of national highways were constructed in FY 2025-26 (up to December), while digital tolling saw increased adoption with 282.5 crore electronic transactions.

Railways Sector

The railways sector showed improvement in operational efficiency, with passenger train kilometres rising to 835 million km and punctuality improving to 77.1 per cent.

Ports, Shipping and Waterways

Meanwhile, the ports, shipping and waterways sector maintained steady growth, with 229 ports and inland waterways length reaching 29,267 km, supporting multimodal connectivity.

The ministry said the launch of the dashboard represents a significant step towards enhancing transparency, efficiency and accountability in infrastructure monitoring. The dashboard will be updated on a quarterly basis.

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

India Real Estate PE Investment Jumps to $637M in Q1 2026: Report

Asianet News Central — Thu, 16 Apr 2026 17:00:51 +0530

Private equity (PE) investment in India's real estate sector rose sharply in the first quarter of 2026, reaching USD 637 million across nine deals, according to a report by real estate consultancy firm Knight Frank India. This marks more than a twofold increase compared to USD 300 million recorded across three deals in the same period last year, indicating a pickup in transaction activity.

However, the report noted that investment momentum remains selective, with domestic capital continuing to drive the majority of deals amid persistent global uncertainties.

Sectoral Investment Breakdown

Office Segment Attracts Majority Share

The office segment emerged as the dominant asset class, attracting USD 529 million, or 83 per cent of total investments, across four transactions. All deals involved stabilised, income-generating assets, reflecting a clear investor preference for steady yields and lower risk exposure. Notably, three of these transactions were structured as equity investments, signalling improved confidence in pricing for leased office properties.

Residential Investment Remains Debt-Led

In contrast, the residential segment accounted for USD 108 million across five deals, contributing 17 per cent of total investment activity. The majority of these investments were debt-led, with four out of five deals structured as structured credit. Capital was primarily directed towards mid-income and luxury housing projects, as investors continued to prioritise downside protection in a segment characterised by relatively uncertain exit timelines.

Warehousing and Retail See No Activity

The warehousing and retail sectors did not record any transactions during the quarter, a sharp departure from their combined USD 885 million contribution in 2025. The report attributed this slowdown to cautious underwriting due to high financing costs and limited availability of stabilised assets at attractive yields. Retail investments, meanwhile, remained episodic, with no large, high-quality opportunities closing during the period.

Geographical Investment Focus

Geographically, investment activity was heavily concentrated in select markets. The National Capital Region (NCR) accounted for USD 411 million, representing 65 per cent of total inflows, followed by Pune with USD 203 million, or 32 per cent. Mumbai saw limited activity at USD 23 million, while a transaction in Bengaluru was completed at an undisclosed value.

Domestic Capital Leads Investment Drive

Domestic investors played a pivotal role, contributing USD 510 million, or 80 per cent of total investments. Foreign capital accounted for the remaining 20 per cent, with USD 128 million deployed selectively in stabilised assets. The report highlighted that factors such as currency hedging costs, valuation gaps and continued caution towards development risk have constrained cross-border investment.

Outlook and Market Conditions

According to the consultancy, the current investment landscape reflects a risk-calibrated approach, with capital flowing into markets offering strong leasing demand, institutional-grade assets and clearer exit visibility. It added that the pace of recovery in 2026 will depend on improved valuation alignment and a supportive macroeconomic environment. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

India's Smart Meter Push: Polaris Secures $80M for AMI Deployment

Asianet News Central — Thu, 16 Apr 2026 17:00:23 +0530

India's smart metering push is gathering pace as Polaris Smart Metering Private Limited has secured USD 80 million (around Rs 7,10 crore) in financing from British International Investment (BII), aimed at accelerating deployment of advanced metering infrastructure (AMI) in the country.

The funding will support the installation of over 2.2 million smart meters in West Bengal, reinforcing the growing role of digital infrastructure in modernising India's power distribution sector.

A Critical Enabler for a Modern Power Ecosystem

The development comes at a time when India is undertaking a large-scale transition toward a more efficient and technology-driven power ecosystem. Smart metering is emerging as a critical enabler in addressing long-standing issues such as high aggregate technical and commercial (AT&C) losses, billing inefficiencies, and limited grid visibility.

Under the Revamped Distribution Sector Scheme (RDSS)

Under the Government of India's Revamped Distribution Sector Scheme (RDSS), the country has set an ambitious target of installing 250 million smart meters by 2027, signalling a structural shift toward data-driven energy management.

Boosting Efficiency and Transparency

Increased capital inflows into the sector reflect strong investor confidence in India's smart metering opportunity. The latest financing is expected to further strengthen AMI adoption, improve billing accuracy, enhance operational efficiency, and boost transparency for consumers.

Supporting Renewable Energy and Grid Resilience

Smart meters are also expected to play a pivotal role in enabling renewable energy integration by providing real-time data, improving load management, and supporting a more resilient grid.

Strong Outlook for a Tech-Enabled Energy Future

With utilities under pressure to improve financial sustainability and service delivery, the outlook for smart metering in India remains robust, driven by policy support, rising demand for digital solutions, and growing participation from private players. The investment underscores the broader trend of scaling smart infrastructure as India advances toward a cleaner, more reliable, and technology-enabled energy future.

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Learn How to Invest Money: Risks and Rewards of FDs, Mutual Funds, and Stocks Explained

Asianet Newsable English — Thu, 16 Apr 2026 16:58:57 +0530

Learn how to invest your money wisely with a simple guide to risks and rewards. Compare Bank FDs, mutual funds, and the stock market to understand returns, safety, and growth before investing.

Many people are confused about where to put their money and what returns they'll actually get. It's crucial to understand the real return on investment, not just the flashy numbers you see.

Bank Fixed Deposits (FDs) are considered one of the safest investment options, currently offering around 6.5% interest. They provide stable and predictable returns with very low risk. However, while FDs can help you protect your money and slightly beat inflation, they are not designed to generate high wealth or make you rich over time.

Mutual funds generally offer higher returns compared to bank fixed deposits. On average, investors can expect around 12% to 15% returns, depending on market conditions and the type of fund. Any return above 12% is usually considered strong performance, making mutual funds a more growth-focused option for those willing to take moderate market risk.

The stock market is a high-risk, high-reward investment option. While it can offer strong returns of around 18% to 20% in favourable conditions, it also carries significant risk. Market fluctuations can lead to losses, and there is always a possibility of losing a portion or even the entire investment if conditions turn unfavourable.

Trading, especially in Futures & Options (F&O), is highly risky and can lead to both quick profits and heavy losses. While some traders may earn significant returns in a short time, there is also a real chance of losing the entire investment. Crypto trading and betting apps carry even higher risks due to extreme volatility and uncertainty.

Iran conflict flips oil market from surplus to deficit: YES Securities

Asianet News Central — Thu, 16 Apr 2026 16:31:13 +0530

Iran Conflict Flips Oil Market to Deficit

The ongoing Iran conflict has sharply reversed the global oil market balance, wiping out last year's surplus and pushing the market into a deficit in early 2026, according to a report by YES Securities. The report noted that the oil market has "shifted decisively from a position of sizable surplus in 2025 to a materially higher deficit so far in 2026", primarily due to supply disruptions triggered by the conflict.

Significant production shut-ins across key oil-producing regions have eroded the buffer that previously kept prices stable.

Before the conflict, global oil markets were comfortably oversupplied, with surplus averaging 2.3 million barrels per day (mbpd) in 2025.

However, disruptions intensified in recent months, with production outages estimated at up to 10 mbpd in April 2026, transforming the balance into an average shortfall of 1.4 mbpd during the first four months of the year.

Outlook: Temporary Deficit, Sustained High Prices

Despite the sharp tightening, the report suggests the deficit may not persist through the year. "We think that the supply loss during March and April will not likely translate into a sustained deficit throughout the year," it said, adding that the conflict is expected to ease soon. It says "we expect the conflict to end by this month. Therefore, markets are unlikely to remain in a sustained deficit as disruptions ease through the year."

Price Projections and Market Balance

Oil prices, meanwhile, are projected to remain elevated in the near term, stabilising around USD 80-85 per barrel, supported by a geopolitical risk premium of USD 10-15 per barrel. Higher prices are likely to incentivise increased production from non-OPEC players, particularly US shale, helping bridge the supply gap.

The report noted "Even if the conflict ends by April, benchmark prices are likely to stabilize in the USD 80-85/bbl range rather than retrace sharply, as partial normalization in transit flows is expected but not a full return to pre-conflict conditions until late 2026. As a result, Oil prices are expected to embed a geopolitical risk premium of roughly USD 10-15/bbl"

At the same time, elevated prices are expected to dampen demand growth in the near term, especially across price-sensitive markets, keeping the overall oil market broadly balanced toward the end of 2026.

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

FIU-IND, SEBI sign MoU to curb money laundering, financial crimes

Asianet News Central — Thu, 16 Apr 2026 16:31:10 +0530

In a bid to curb money laundering and financial crimes, the Financial Intelligence Unit-India (FIU-IND) and the Securities and Exchange Board of India (SEBI) on Wednesday signed a comprehensive Memorandum of Understanding (MoU) to strengthen intelligence sharing, coordinate enforcement, and upgrade Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) capabilities across market entities, the Ministry of Finance said on Thursday.

The MoU was signed by Amit Mohan Govil, Director, FIU-IND, and Sandip Pradhan, Whole Time Member, SEBI marking a new era of collaborative intelligence sharing between the two agencies at the forefront of India's fight against money laundering and financial crimes, according to the press release.

Details of the Collaboration

"The collaboration will involve sharing relevant intelligence and information available in their respective databases, and laying down the procedures and modalities for reporting by regulated entities and reporting entities to FIU-IND under the provisions of the PML Rules," the Ministry said in its press release. The MoU shall also assist in the exchange of information with foreign FIUs through the Egmont Principles of Information Exchange.

Key Objectives and Further Cooperation

The MoU aims to enable both agencies to undertake outreach and training programmes for regulated/reporting entities, with a focus on upgrading Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT) capabilities among entities regulated by the SEBI.

Further, both parties shall ensure alignment with applicable international standards and hold quarterly meetings to exchange information and deliberate on issues of mutual interest. The cooperation will also include assessment of Money Laundering and Terror Financing (ML/TF) risks and vulnerabilities across relevant financial sub-sectors, identification and dissemination of red flag indicators for suspicious transactions, and supervision and monitoring of compliance by reporting entities with obligations under the PMLA, PML Rules, and SEBI guidelines.

About FIU-IND

FIU-IND is the central national agency responsible for receiving, processing, analysing, and disseminating information relating to suspect financial transactions and coordinating efforts against money laundering and financing of terrorism. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

West Asia crisis causes 10-15% dip in inbound tourism to India: PHDCCI

Asianet News Central — Thu, 16 Apr 2026 16:30:50 +0530

Inbound tourism to India has declined by around 10-15 per cent amid the ongoing West Asia crisis, with the impact most visible in meetings, incentives, conferences and exhibitions (MICE) travel and metro hotel segments, Anil Parashar, Chair, Tourism & Hospitality Committee, PHDCCI, told ANI.

"Overall, the decline is around 10 to 15 per cent, but that is a bit skewed in the sense that the inbound tourism season is pretty much over in India. However, MICE events have taken a hit," Parashar told ANI while discussing a resilience report on the tourism and hospitality sector.

He said this on the sidelines of the PHD Chamber of Commerce and Industry (PHDCCI) media briefing and official release of its latest report titled Impact of the West Asia Conflict on India's Tourism, Aviation & Hospitality Sectors.

Geographical and Segment-Specific Impact

He added that the impact is geographically uneven, with Southern India witnessing a sharper decline due to its higher dependence on Gulf-linked air routes. "The impact is more in Southern India than Northern India because Southern India has more Gulf-related flights which have been impacted, whereas traffic to Northern India is largely through direct flights," he said.

Domestic Tourism Provides a Cushion

Despite the fall in inbound travel, domestic tourism has emerged as a strong support for the sector, helping cushion the overall impact. "Domestic tourism has actually helped the country big time. Domestic tourist numbers are about 270 to 280 million as compared to less than 10 million inbound tourists," he noted, adding that spiritual destinations such as Varanasi, Ayodhya and Amritsar have seen a surge in footfall.

He further said that leisure destinations like Goa have also recorded growth, with tourist traffic rising by around 5 per cent. However, metro cities and premium hotel segments have borne the brunt of the slowdown.

"The metropolis has taken an impact of around 10 to 15 per cent in hotels, and in the super luxury segment, the impact is higher at about 20 per cent because they depend more on inbound foreign travellers and events," he said, adding that tier-II and tier-III cities have remained relatively resilient.

Effect on Employment and Restaurants

The crisis has also had an impact on employment, particularly in aviation and the restaurant industry. "One airline has reduced about 500 people from a workforce of 6,800, which is about an 8 per cent drop, though others are holding on as a rebound is expected," he said.

He flagged that the restaurant sector has been the worst hit, mainly due to disruptions in LPG supply. "About 10 per cent of restaurants in India have shut down, and business has declined. The hospitality and tourism sector employs around 40 to 45 million people, of which about 8.5 million are in the restaurant segment," he said.

Shift in Outbound Travel Preferences

The crisis has also led to a shift in outbound travel preferences, with Indian tourists opting for East Asian destinations. "Travellers are now moving towards the eastern side. For instance, Japan is issuing about 600 visas daily from Delhi and Mumbai, while destinations like Thailand and Vietnam are seeing increased traffic. The western side has been impacted due to disruptions," he said.

Macroeconomic Concerns and Recovery Outlook

On the macroeconomic front, he said the sector could see a measurable impact due to multiple factors, including higher oil prices and a stronger dollar. "Tourism contributes significantly to the economy, and within the sector, we are seeing an impact of about 2 per cent due to aviation, inbound and outbound travel, hotels and restaurants. Oil prices and dollar appreciation are key factors," he said.

On recovery, Parashar expressed cautious optimism, noting that easing geopolitical tensions could improve sentiment, though infrastructure disruptions in the Gulf may take longer to resolve. "We are seeing some green shoots with ceasefire extensions, but recovery in infrastructure like refineries and oil wells in parts of the Gulf could take up to six months. Once the war ends, sentiment will return, and travellers will bounce back," he added.

Key Report Findings

According to the report released today, the West Asia conflict disrupts aviation around 15 per cent dip in inbound tourist traffic, incurring Rs. 18,000 crore net loss for the industry. Also, 10 per cent of restaurants closed down, and the business went down by Rs 79,000 crore per month, the report added. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Strait of Hormuz Blockade: 'Most Disruptive Shock' for Global Economy

Asianet News Central — Thu, 16 Apr 2026 16:30:49 +0530

Impact of Potential Hormuz Blockade

A complete blockade of the Strait of Hormuz would be the "most disruptive geopolitical shock" to the global economy, with immediate implications for India through surging energy prices, rising inflation and supply chain disruptions, Ranjeet Mehta, CEO and Secretary General of PHDCCI, told ANI on Thursday.

"A blockade of the Strait of Hormuz will be the most disruptive geopolitical shock the world economy can ever have... this narrow passage handles around 20 to 30 per cent of the global energy supply," he said, warning that any disruption would sharply push up crude prices and trigger economy-wide cost pressures.

He said India would feel the impact almost immediately as higher energy prices would translate into increased logistics costs, disruptions in transport and supply chains, and a broader inflationary spiral. "With energy prices, all other prices are connected; logistics costs will go up, and supply chains will be disrupted," he noted, adding that the Reserve Bank of India (RBI) would have "very little room" to manage inflation under such circumstances.

Current Inflation and Domestic Risks

On the current inflation trajectory, Mehta said price levels remain under control for now. "As of now, there is not much of a problem... inflation is within manageable limits, it is below 4 per cent," he said, while cautioning that prolonged tensions in West Asia or any escalation around Hormuz could have "very serious implications for the world economy," with India unlikely to remain insulated.

Monsoon and Agricultural Concerns

Turning to the domestic outlook, he flagged risks from weather uncertainties after the India Meteorological Department (IMD) forecast a below-normal monsoon. He said erratic or deficient rainfall could significantly impact agriculture, which remains heavily dependent on rain-fed irrigation. "When monsoon is unusual or less, there will be less production, and that will impact the economy," he said.

He added that lower farm output would weaken rural demand in India's consumption-driven economy, affecting sectors such as fast-moving consumer goods (FMCG) and consumer durables. At the same time, reduced supply would push up agricultural prices, leading to higher food inflation and an overall negative impact on economic growth.

Mixed Trends in Tourism Sector

In the tourism sector, Singh said PHDCCI's latest assessment shows mixed trends amid global uncertainties. While tourism contributes around 8 per cent to India's GDP, inbound travel has been hit. "We have found around a 15 per cent drop in inbound tourism," he said, attributing it to geopolitical tensions. However, he noted that domestic tourism has picked up as travellers opt for local destinations over overseas trips.

Cautious Optimism Amid Tensions

Despite the challenges, Mehta expressed cautious optimism, pointing to ongoing diplomatic efforts. "We are hopeful that with dialogues happening through diplomatic channels, the crisis will be over soon," he said. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

India's fight against money laundering gets boost with FIU-PFRDA MoU

Asianet News Central — Thu, 16 Apr 2026 16:30:27 +0530

India's fight against money laundering and financial crimes has received a significant boost as the Financial Intelligence Unit-India (FIU-IND) and the Pension Fund Regulatory and Development Authority (PFRDA) signed a comprehensive Memorandum of Understanding (MoU) to strengthen information sharing and coordination.

Framework for Enhanced Cooperation

In addition, both parties shall ensure alignment with applicable international standards and hold quarterly meetings to exchange information and deliberate on issues of mutual interest. The MoU highlights that each party shall designate a nodal officer, along with an alternate nodal officer, to facilitate regular coordination and interaction between the two agencies. The MoU shall also assist in exchange of information with foreign FIU through Egmont Principles of Information Exchange.

Scope of Cooperation

The cooperation will also include assessment of Money Laundering and Terror Financing (ML/TF) risks and vulnerabilities across relevant financial sub-sectors, identification and dissemination of red flag indicators for suspicious transactions, and supervision and monitoring of compliance by reporting entities with obligations under the PMLA, PML Rules, and PFRDA guidelines.

About the Regulatory Bodies

FIU-IND is the central national agency responsible for receiving, processing, analyzing, and disseminating information relating to suspect financial transactions and coordinating efforts against money laundering and financing of terrorism.

Whereas, PFRDA is the statutory regulatory body responsible for the regulation, development and supervision of the pension sector in India, including the National Pension System and Atal Pension Yojana. PFRDA provides a comprehensive regulatory and supervisory framework for intermediaries such as pension funds, central recordkeeping agencies, trustees, aggregators and points of presence to ensure orderly growth of the pension ecosystem and protection of subscriber interests.

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Indian stock markets erase opening gains, end lower amid selling pressure

Asianet News Central — Thu, 16 Apr 2026 16:30:27 +0530

Market Closes Lower Amid Profit Booking

The domestic stock markets erased their opening gains on Thursday and ended marginally lower as selling pressure and profit booking weighed on investor sentiment. The NSE Nifty 50 index closed at 24,196.75, down by 34.55 points or 0.14 per cent, while the BSE Sensex ended at 77,988.68, declining by 122.56 points or 0.16 per cent.

Market experts noted that the indices started the session on a positive note but failed to sustain higher levels due to persistent selling during the day.

Expert Analysis on Intraday Trends

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities, said the benchmark index witnessed a gap-up opening supported by global cues but came under pressure near intraday highs. "Persistent profit-taking was seen across most of the trading session, which kept the index under pressure. In the last hour of trade, Nifty slipped to an intraday low of 24,102, following which a modest pullback was witnessed. Despite this late recovery, the index concluded the session marginally lower near the 24,200 mark," he said.

Sectoral Performance Remains Mixed

Sectorally, the performance remained mixed. On the NSE, Nifty Auto declined by 0.38 per cent, Nifty PSU Bank fell by 0.17 per cent, and Nifty Private Bank dropped by 0.56 per cent. Nifty Oil & Gas index also slipped by 0.17 per cent. On the gaining side, Nifty IT rose by 0.88 per cent, Nifty Metal surged by 1.53 per cent, and Nifty Media gained 0.59 per cent. Nifty FMCG also edged higher by 0.18 per cent.

Commodities and Currency Movements

In the commodities space, crude oil prices remained elevated, with Brent crude rising by 1.45 per cent to USD 96 per barrel. Gold prices continued their upward trend, increasing by 0.25 per cent to Rs 1,54,335 per 10 gram for 24 karat, while silver prices rose by 0.36 per cent to Rs 2,52,646 per kg.

Rupee Gains Ground

Meanwhile, the Indian rupee showed some recovery. Dilip Parmar, Research Analyst at HDFC Securities, said that after four sessions of weakness, the rupee gained ground as renewed risk-on sentiment led to foreign institutional investors returning to domestic equities. "This recovery was supported by a declining trade deficit and reduced dollar demand. In the near term, the USDINR spot rate is expected to consolidate within a range of 92.80 to 93.50," he said.

Asian Market Update

Asian markets showed a mixed trend. Japan's Nikkei 225 index surged by 2.42 per cent to 59,578, while Hong Kong's Hang Seng index rose by 1.92 per cent to 26,456. Taiwan's weighted index gained 1.10 per cent to 37,132, and South Korea's Kospi advanced by 2 per cent to 6,226. However, Singapore's Straits Times index declined by 0.27 per cent to 5,007. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

India's March Trade Deficit Dip Temporary, Warns Yes Securities

Asianet News Central — Thu, 16 Apr 2026 15:31:32 +0530

While India's March 2026 trade deficit came in lower than expected, Yes Securities has cautioned that underlying factors point to a likely widening in the coming months, driven by external shocks, slowing global demand, and structural pressures on the import bill. The report noted that "India's March trade deficit surprised at only USD 21 bn," aided by a temporary compression in imports and a sequential recovery in exports. However, it emphasized that this improvement may not be sustained.

Reasons Behind the Temporary Deficit Dip

A major reason for the smaller deficit was a sharp drop in imports, especially gold and oil. Gold imports fell to about USD 3.1 billion, and oil imports declined to around USD 12.2 billion. However, this decrease was not entirely due to lower demand. The report suggests that the fall may have been caused by the closure of the Strait of Hormuz, which disrupted supply, pointing to supply issues rather than a long-term improvement.

The report noted ,"The drop... may be attributed to the closure of the Strait of Hormuz which disrupted supply," indicating supply-side constraints rather than structural correction. The report warned that such disruptions could reverse as supply normalizes, pushing the import bill higher again.

Persistent Oil Market Volatility

Even with recent easing in crude prices following ceasefire developments, "the physical restoration of damaged infrastructure and full normalization of logistics will be a slower process," the report noted, suggesting persistent volatility in oil markets.

Fragile Export Outlook Amid Weak Global Demand

On the exports side, the outlook remains fragile. Despite a month-on-month pickup, exports contracted by 7.3% YoY in March, reflecting weak global demand conditions. The report flagged that in FY27 global demand is expected to slow, which could further weigh on export growth.

Import Composition and Domestic Momentum

Additionally, the composition of imports signals weakening domestic momentum but also future risks. Imports for industrial inputs have dropped, indicating expectations of a softer production cycle, the report observed. While this has temporarily reduced import demand, a revival in domestic activity could again lift imports without a commensurate rise in exports.

Pressures on the External Income Channel

Another concern highlighted is the external income channel. The report pointed to a probable drop in remittances from Gulf economies, which could weaken the current account position further. Even as services continue to provide a buffer with "net services balance... at USD 18.2 bn" -- the cushion may not be sufficient to offset pressures from merchandise trade.

Forecast: Widening Current Account Deficit

Given these dynamics, Yes Securities expects a deterioration in the external balance. "We expect CAD to widen to USD 70.1 bn (1.6% of GDP) in FY27," the report said, with risks tilted to the upside if oil prices remain elevated.

It further warned that CAD could rise to "1.6-2.0% of GDP... if oil prices average USD 85-95/bbl."

In sum, the report suggests that March's lower trade deficit is likely transitory, with a combination of recovering imports, weak exports, and global uncertainties setting the stage for a wider deficit in FY27. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Akshaya Tritiya: How digital trends are reshaping jewellery shopping

Asianet News Central — Thu, 16 Apr 2026 15:31:26 +0530

Akshaya Tritiya continues to remain one of the most significant occasions for jewellery purchases in India, with gold and silver retaining their traditional importance as preferred investment options, this year it will be celebrated on Sunday, April 19.

Changing Consumer Habits and Digital Influence

This year, changing consumer preferences and the growing role of digital platforms are influencing how people shop. E-commerce platforms such as Amazon are witnessing rising interest in both traditional and modern jewellery categories, reflecting a shift in buying behaviour.

Buyers are increasingly exploring a mix of gold coins and contemporary options such as lightweight jewellery and lab-grown diamond pieces.

Industry trends also point to the growing use of technology in the decision-making process. Features such as virtual try-on and digital ring sizing are enabling customers to evaluate products remotely, while price tracking tools are helping them make more informed purchases.

Evolving Trends Across Jewellery Segments

Bridal Segment Sees Strong Demand

In the bridal segment, demand remains strong for elaborate gold jewellery that blends traditional craftsmanship with modern design elements.

Gifting Patterns Evolve

At the same time, gifting patterns are gradually evolving, with consumers opting for silver jewellery and diamond pieces alongside conventional gold purchases.

Rise of Everyday Jewellery

Everyday jewellery is also gaining traction, particularly among working professionals who prefer minimal and versatile designs suitable for both office and casual settings.

Bold Pieces for Special Occasions

For special occasions such as anniversaries and celebrations, there is a rising preference for bold and statement pieces, including designer earrings and pendants.

Overall, while tradition continues to drive purchases during Akshaya Tritiya, evolving lifestyles and the use of digital tools are reshaping jewellery buying trends across segments.

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

TCS Nashik Employee's Explosive Claim In Harassment Row: 'Send Your Wife If You Want A Child'

Divya Danu — Thu, 16 Apr 2026 15:20:09 +0530

Multiple employees at TCS Nashik have alleged sexual harassment, forced religious practices and workplace abuse. A male employee claimed he was made to perform religious acts and faced personal insults. Many, including HR staff, have been arrested

The controversy at Tata Consultancy Services (TCS) in Nashik has deepened after a male employee made a disturbing allegation, claiming a colleague told him to 'send his wife' if he wanted a child. He said this was part of ongoing harassment that also included pressure to follow religious practices like wearing a skullcap, offering namaz and reciting the kalma.

His account comes after several women employees accused colleagues of sexual harassment and attempts at forced religious conversion at the same office, according to a report by India Today. Together, these complaints have triggered a major investigation.

Police have now registered nine cases based on multiple complaints, including from the male employee. The allegations range from workplace harassment and abuse of power to coercion and misconduct, raising serious concerns about employee safety and internal systems at the Nashik branch.

The male employee, speaking about his experience, claimed that he was forced to follow religious practices against his will.

According to him, his team leaders allegedly made him wear a skullcap, recite the kalma and offer namaz. He said this happened multiple times during his time at the company.

He also claimed that he was mocked for his personal life. He alleged that one of the accused made offensive remarks suggesting he 'send his wife' if he wanted a child.

The man said the harassment started in 2022 soon after he joined the company and continued till March 2026.

The employee said his team leader, identified as Tausif Akhtar, along with colleague Danish Sheikh, allegedly targeted him regularly.

He claimed that he was given extra work to keep him under pressure. Tasks from other employees were also assigned to him, leaving him exhausted.

When he protested, he alleged that he was threatened. In one instance, he claimed a table fan was thrown at him during an argument.

He also said that false complaints were later filed against him when he refused to follow instructions.

The employee said his religious identity became a major issue at the workplace. He described himself as a devout Hindu who follows Ramdas Swami and wears a rudraksha mala.

He alleged that his beliefs were mocked and questioned by colleagues. According to him, comments were made about Hindu gods and religious figures.

He also claimed that he was pressured to eat non-vegetarian food despite being a strict vegetarian. When he refused, he said he was ridiculed.

In another claim, he said he was taken to a colleague’s home during Eid in 2023 and forced to take part in religious practices. He alleged that photos were taken and shared in office groups to humiliate him.

The case first came to light after a 23-year-old woman employee filed a complaint.

She alleged that one of the accused tried to forcibly kiss her and wanted to marry her. She also claimed that colleagues made objectionable remarks and tried to influence her religious beliefs.

Following her complaint, police registered a case and began an investigation. Women police officers were also sent undercover to gather more information.

Several other women later came forward with similar complaints.

Arrests and police investigation

Police have arrested multiple accused in connection with the case. This includes several male and female employees.

Investigators have collected evidence such as call records, emails and chat messages. Around 78 “suspicious” records have been found so far.

Police also said there are signs of possible financial transactions linked to the accused, though details are still being examined.

Authorities have stated that complaints by victims were allegedly ignored earlier and not properly reported within the company.

An HR executive, identified as Nida Khan, has been accused of trying to suppress complaints.

According to police, she was part of the POSH (Prevention of Sexual Harassment) committee but did not take proper action. Instead, she allegedly asked victims to drop their complaints.

Police believe she may have played a key role in shielding the accused. She has also been arrested as part of the investigation.

Another company official, Ashwini Chainani, has been sent to judicial custody for 14 days.

Tata Consultancy Services has responded to the allegations, calling them serious and concerning.

Chairman N. Chandrasekaran said the company is treating the matter with the “utmost seriousness”.

He confirmed that an internal investigation has been ordered and action has already been taken against some employees.

The company also said it has a zero-tolerance policy towards any kind of harassment or coercion.

TCS has asked employees at its Nashik office to work from home for safety reasons while the investigation continues.

Public reaction and protests

The case has sparked strong reactions outside the company as well.

A group of women organised a ‘Ranragini Jan Akrosh’ bike rally in Nashik to protest against the alleged incidents.

Political reactions have also followed. BJP MLA Devayani Farande criticised the alleged acts and called for strict action.

The issue has now become a larger public discussion about workplace safety, religious freedom and employee rights.

The investigation is still ongoing, and police are continuing to question those involved.

Authorities are examining all evidence to understand the full extent of the case. More arrests or charges may follow depending on the findings.

At this stage, all allegations are under investigation and have not been proven in court.

The case highlights the importance of safe workplaces, proper complaint systems and strict action against misconduct.

Vedanta challenges Adani's Rs 14,535-cr JAL plan at NCLAT hearing

Asianet News Central — Thu, 16 Apr 2026 15:00:54 +0530

The National Company Law Appellate Tribunal (NCLAT) on Thursday heard detailed submissions on behalf of Vedanta Limited challenging the approval of Adani Enterprises' Rs 14,535-crore resolution plan for Jaiprakash Associates Ltd (JAL), with the matter now slated for further hearing tomorrow.

Vedanta's Arguments Against CoC Evaluation

Vedanta argued that the Committee of Creditors' (CoC) evaluation framework resulted in a "distorted outcome," where lower-value bids were ranked above its significantly higher offer exceeding Rs 17,000 crore. It contended that the scoring mechanism lacked transparency, consistency, and a clear linkage to value maximisation, thereby defeating the core objective of the insolvency process.

Vedanta further submitted that despite emerging as the highest bidder during the challenge process, the final assessment disregarded the identified criteria and reduced the exercise to a mechanical scoring process without substantive evaluation. It argued an absence of transparency in the scoring methodology, stating that there was no clear disclosure of how evaluation parameters were applied or how final scores were derived, particularly in relation to improved financial offers submitted during successive bidding rounds.

The invocation of "commercial wisdom" of COC in the present case was misplaced, as such discretion must demonstrably align with the objective of maximising stakeholder value. It submitted that no such linkage was evident in the final outcome.

It also challenged the rejection of its addendum on grounds of procedural constraints and timelines, stating that such considerations cannot override the statutory objective of value maximisation.

Highlighting its participation in multiple rounds of negotiations, Vedanta stated that it consistently improved its financial proposal in line with the prescribed challenge process, thereby contributing to price discovery.

The company further alleged that the CoC disproportionately relied on upfront cash as the determinative factor in evaluation, contrary to the stated criteria, which envisaged a composite assessment of value. This, it argued, distorted the intended framework.

It reiterated that while the commercial wisdom of the CoC is generally accorded deference, it remains subject to scrutiny where exercised arbitrarily or in a manner inconsistent with the Insolvency and Bankruptcy Code's core objective of maximising realisable value for creditors.

Background of the Appeal

The NCLAT is seized of Vedanta's appeal against the National Company Law Tribunal's March 17 order approving Adani Enterprises' bid for JAL. Vedanta has maintained that its revised proposal offered substantially higher value to creditors but was overlooked. Earlier, the Supreme Court has declined to grant interim relief to Vedanta, noting that the NCLAT is already hearing the matter, however it safeguarded the interests of parties by making the resolution plan subject to the outcome of the appeals. The top court also urged expeditious disposal of the matter.

Hearing to Continue

The appellate tribunal, after hearing the submissions, listed the matter for continuation of arguments tomorrow, when it will also hear the resolution professional of JAL. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Interest rate hike possible if crude oil stays above $90: UBI report

Asianet News Central — Thu, 16 Apr 2026 15:00:45 +0530

The interest rates could see an upward movement if crude oil prices stabilise above USD 90 per barrel, amid rising inflationary pressures driven by global geopolitical tensions highlighted a report by Union Bank of India.

Potential for Rate Hike

The report noted that while the current stance remains a prolonged pause on policy rates, the outlook could change depending on the trajectory of inflation and global commodity prices. "At present, we maintain our view of a prolonged pause on rates with a close watch on inflation trends. However, if oil prices stabilise above USD 90 per barrel, we see the possibility of a rate hike," the report stated. It added that consumer price inflation (CPI) for FY27 is likely to move sharply higher and remain above the 4.5 per cent mark, driven by elevated input costs and global uncertainties.

Inflation Metrics and RBI's Stance

The Reserve Bank of India, in its latest monetary policy announcement on April 8th, kept the policy repo rate unchanged at 5.25 per cent in the first policy review of the financial year 2026-27, citing rising global uncertainties and geopolitical tensions.

WPI Inflation Shows Firming Trend

The report also highlighted that wholesale price index (WPI) inflation has already shown signs of firming up. WPI inflation for FY26 stood at 0.70 per cent, while projections for FY27 are tracking above 5 per cent. On a monthly basis, WPI inflation rose sharply to 3.88 per cent in March 2026, up from 2.13 per cent in the previous month and 2.25 per cent in the same month last year. The increase in inflation was largely driven by a sharp rise in fuel prices. Fuel inflation turned positive and surged to 6.24 per cent compared to -3.64 per cent in the previous month, exceeding expectations. Food inflation, however, remained relatively stable at 1.86 per cent year-on-year, supported by a cooling trend in vegetable prices. Core inflation also witnessed an uptick, rising to 4.31 per cent from 3.91 per cent in the previous month.

Geopolitical Risks and Future Outlook

The report said that geopolitical developments, including the US-Iran conflict, along with rising commodity prices especially crude oil could further push inflation higher in the coming months. Going forward, the bank said the global geopolitical conflicts, input cost trends, crude oil dynamics and overall commodity prices should be monitored closely, as these factors will play a crucial role in shaping the inflation trajectory and monetary policy outlook. (ANI) (Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

GAIL signs deal for 600 MW solar project with battery storage in UP

Asianet News Central — Thu, 16 Apr 2026 15:00:25 +0530

GAIL (India) Limited has signed contract agreements with TUSCO Limited to set up a 600 MW solar power project at TUSCO's Solar Park in Jhansi, Uttar Pradesh, as part of its push towards expanding its renewable energy portfolio. The agreements were signed by Parivesh Chugh, Executive Director (SD & Renewables), GAIL, and Anil Tyagi, CEO of TUSCO Ltd, in the presence of senior officials including R K Singhal, Director (Business Development), GAIL, and Neeraj Verma, Executive Director, THDC India Limited.

Project to Feature Battery Storage for Captive Use

The project will also include a 550 MWh Battery Energy Storage System (BESS), aimed at enhancing energy reliability and supporting efficient utilisation of solar power. According to the company, the solar power generated from the project will primarily cater to the captive energy requirements of GAIL's petrochemical plant at Pata in Auraiya district of Uttar Pradesh. It will also help meet additional energy demand arising from the electrification of gas-based equipment and compressed biogas (CBG) plants being set up in the state.

Commitment to Low-Carbon Solutions

Speaking on the occasion, R K Singhal said the project reflects GAIL's commitment towards adopting low-carbon and sustainable energy solutions. "This solar project reflects GAIL's commitment for diversifying into low-carbon and sustainable energy solutions," he said, adding that the initiative also highlights the company's efforts to expand its business footprint in Uttar Pradesh.

Supporting Greener Energy Transition

The move is part of GAIL's broader strategy to integrate renewable energy into its operations while supporting its growing energy needs through cleaner sources. The inclusion of battery energy storage is expected to improve the stability and efficiency of power supply from the solar project.

The development also aligns with increasing efforts by energy companies to adopt sustainable practices and reduce dependence on conventional sources of energy. The project is expected to contribute to meeting the rising energy requirements of industrial operations while supporting the transition towards greener energy solutions in the region. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Lenskart 'Hijab Ok, Bindi Not?' Controversy: CEO Peyush Bansal Breaks Silence, Issues Clarification

Gargi Chaudhry — Thu, 16 Apr 2026 14:56:09 +0530

A document purporting to be Lenskart's office dress code guidelines caused a great deal of controversy when people pointed out that it permitted the hijab but forbade bindi and tilak. The “Lenskart Staff Uniform and Grooming Guide”, which began circulating online yesterday, sparked a row over alleged religious discrimination, prompting CEO Peyush Bansal to issue a clarification.

Because it manufactures its own frames and lenses and has cut out middlemen to cut costs, Lenskart is a significant participant in the eyewear market and provides them at cheap prices.

Dress Code Guideline Document That Stirred Controversy

When the dress code guideline document for the Lenskart workplace was posted on social media, it caused a significant outcry against the firm. The Lenskart guideline states, "If wearing sindoor, it should be placed minimally and should not fall on the forehead." Sindoor is a marking worn by married Hindu women. "Bindi is not allowed" is written there.

It allows hijab but also describes what the headscarves for Muslim women should be like."If wearing [a] hijab/turban, it should [be] black in colour. The hijab should be of medium chest coverage and must not cover the logo," reads the dress code document shared online. "Wearing a burkha in the store is not allowed."

What Did CEO Peyush Bansal Say?

Shefali Vaidya, an author and activist, commented on X, "Hi Peyush Bansal, can you please clarify why hijab is okay but bindi/kalawa is not at Lenskart," tagging the creator of the company.

Peyush Bansal's response, nevertheless, seems to indicate that Lenskart had a grooming guide in the past. Bansal said, "I have listened to your concerns and I understand your sentiment around this. I want to add more context to my earlier post. The document currently circulating is an outdated internal training document. It is not an HR policy. That said, it contained an incorrect line about bindi/tilak that should never have been written and does not reflect our values or actual practice. When we discovered this on February 17, well before this became a public conversation, we immediately removed it."

“But I should have caught this earlier. As Founder and CEO, the responsibility for such lapses is mine. I have asked my team to bring all such materials under stricter review, and I will personally ensure this is addressed going forward. We are also looking into how this found its way into our training content,” he added.

Bansal further wrote: "Let me be absolutely clear. Lenskart does not and will never restrict any form of respectful religious expression. This includes bindi, tilak, or any such symbols of faith. Our team members have always been, and will always be, free to express their beliefs with pride."

I have listened to your concerns and I understand your sentiment around this. I want to add more context to my earlier post.The document currently circulating is an outdated internal training document. It is not an HR policy.That said, it contained an incorrect line about…

— Peyush Bansal (@peyushbansal) April 16, 2026

Bansal said that Lenskart imposed "no restrictions on any form of religious expression, including bindi and tilak". He added that the company continued to review its guidelines regularly.

Concluding his post, CEO said, “I also want to thank everyone who raised this. Your voice helps us improve and stay true to what we stand for.”

Delhi's draft EV policy: An aggressive Rs 40,000 Cr electrification plan

Asianet News Central — Thu, 16 Apr 2026 14:00:57 +0530

Delhi's draft EV Policy 2024-2030 lays out one of India's most aggressive state-level roadmaps to push electrification, combining heavy incentives, strict mandates, and scrappage benefits. With a proposed outlay of Rs 40,000 Cr, the policy could reshape demand patterns and original equipment manufacturing strategies well beyond the capital, according to Axis Direct.

Aggressive Targets and Incentives

100% electric registration for three-wheelers by January 2027 and for two-wheelers by April 2028. To get there, incentives are heavily front-loaded to drive early adoption. Electric two-wheelers will get Rs 10,000 per kWh in Year 1, capped at Rs 30,000, before tapering to Rs 6,600 in Year 2 and Rs 3,300 in Year 3. Axis Securities notes this structure targets Delhi's vehicle base, where 67% comprises 2Ws.

High-utilisation segments also get fixed support: e-autos Rs 50,000 in Year 1, and N1 goods carriers Rs 1,00,000.

Focus on Passenger Vehicles

For passenger vehicles, direct subsidies have been withdrawn. Instead, the policy shifts to scrappage-linked payouts and tax benefits to improve fiscal efficiency. E-cars can get up to Rs 1,00,000 for scrapping older BS-IV vehicles, capped at 1,00,000 applicants. N1 trucks get Rs 50,000.

Road tax and registration remain fully waived for most EVs, but e-cars above Rs 30 lakh are excluded to keep benefits mass-market focused. Strong hybrids get a 50% road tax cut below Rs 30 lakh, signaling their transitional role.

Building the EV Ecosystem

The policy also tackles ecosystem bottlenecks. Delhi Transco Limited will be the nodal agency for public charging, handling demand aggregation and grid readiness. OEMs must set up at least one public charging station per dealer, with specific charging-point requirements for 2W/3W and 4W.

On the recycling front, the Environment Department and DPCC will enforce strict Extended Producer Responsibility and battery traceability rules.

Market Analysis and Outlook

Axis Direct sees the policy favoring players with early investments and scale. In two-wheelers, Bajaj Auto, TVS Motor, and Ather Energy are well placed. In passenger vehicles, Tata Motors and Mahindra & Mahindra lead, while Japanese OEMs "may need to accelerate EV strategies to remain competitive." The three-wheeler market remains highly consolidated, and mandates will likely strengthen dominant players.

Implementation and Sales Projections

The draft is open for public feedback for 30 days and will run until 31 March 2030 once notified. Axis expects near-term deferral in EV purchases until policy clarity emerges. But post-implementation, "the policy is expected to drive a sharp uptick in EV sales over the subsequent few months, led by pent-up demand and improved incentive visibility."

Delhi as a National Trendsetter

While Delhi accounts for just 3-4% of national 2W and PV sales, it acts as India's lead indicator for EV penetration. "The shift toward mandatory electrification provides a clear roadmap for other high-pollution urban centers," the note said.

Investor Guidance

For investors, Axis remains selective, preferring OEMs with strong pricing power and established EV portfolios. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

WEF: Global GDP to grow by USD 56 trillion, driven by AI and tech

Asianet News Central — Thu, 16 Apr 2026 14:00:21 +0530

The global economy is expected to expand significantly over the next five years, with global GDP projected to increase by about USD 56 trillion, driven by advancements in artificial intelligence, quantum computing, and other emerging technologies, according to a report by the World Economic Forum.

The report highlighted that the world is currently undergoing deep geopolitical, economic, societal, and technological transformations, which are creating both new challenges and opportunities for growth.

Key Growth Sectors and Drivers

It noted that the largest growth opportunities are likely to emerge in sectors such as information technology (IT) services, advanced manufacturing, energy and other technology-driven industries. In addition, sectors including agriculture, education, healthcare, tourism and transport services are also expected to benefit from increased innovation and modernisation.

According to the report, information technology services, advanced manufacturing, health and healthcare, and accommodation and leisure are expected to be among the key drivers of global economic growth over the next five years.

However, not all sectors are expected to grow at the same pace. Areas such as real estate, electronics, insurance and pensions, and chemicals and materials are less frequently identified as major growth drivers.

It stated, "There are also new opportunities amid change. Estimates suggest that, over the next 5 years, global GDP (gross domestic product) will increase by about USD 56 trillion in total. Powered by advances in AI, quantum and other technologies".

Challenges for Emerging Markets

The report also pointed out that emerging markets are facing new challenges as geoeconomic fragmentation and the expansion of AI and robotics begin to reshape traditional development models. These changes are raising questions about growth strategies that have historically relied on low-cost labour and export-oriented manufacturing.

Demographic shifts and geopolitical developments are expected to lead to divergent growth patterns across countries in the coming years. While some economies may benefit from technological advancements and structural changes, others may face slower growth due to evolving global conditions.

Balancing Opportunities and Risks

At the same time, the WEF report also highlighted that the advancements in frontier technologies and the acceleration of green and energy transitions are expected to support economic expansion.

However, the report flagged several risks that could act as headwinds, including rising debt levels, societal polarisation, and the impact of climate change.

So overall, the WEF outlined that while the global economy is entering a phase of transformation, the pace and direction of growth will depend on how countries adapt to technological change and manage emerging risks in an increasingly complex global environment. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

15th round of commercial coal mine auctions to be launched in Mumbai

Asianet News Central — Thu, 16 Apr 2026 12:30:57 +0530

The Ministry of Coal will launch the 15th round of commercial coal mine auctions on April 17, alongside a stakeholder consultation in Mumbai, as part of efforts to boost domestic coal production and strengthen energy security. The consultation, themed "Atmanirbhar Bharat: Coal for Energy Security," will bring together key stakeholders from across the sector. Coal Secretary Vikram Dev Dutt will attend the event as the chief guest, according to an official statement.

The upcoming auction round will offer a fresh set of fully and partially explored coal blocks, aimed at attracting a wide range of participants, including established mining companies, new entrants, and technology-driven firms. The ministry said the move is in line with the government's push to enhance domestic coal availability, reduce import dependence, and promote ease of doing business in the sector.

Background on Commercial Coal Mining Reforms

Commercial coal mining, introduced in 2020, has been a key reform measure to open up the sector to private players. Since then, the auction-based regime has focused on improving transparency, increasing competition, and creating a level playing field for bidders.

According to the ministry, the initiative has contributed to higher coal production and ensured a more stable supply of the fuel to core industries such as power, steal, and cement. The 15th round is expected to further energise the sector by encouraging investments and supporting employment generation, while also strengthening India's broader energy ecosystem.

Aligning with National Energy Goals

The government has been emphasising self-reliance in energy as part of its broader "Atmanirbhar Bharat" vision. The statement said expanding domestic coal output remains critical to meeting the country's rising energy demand.

The ministry added that the commercial coal mine auction framework has played a transformative role in the sector by enhancing efficiency and boosting investor confidence. With the new round, the government aims to build on previous successes and further reinforce long-term growth and resilience in the coal sector, while ensuring reliable and affordable energy supply for the country. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Gold Price Rises Again on April 16: Check 22K, 24K Rates in Your City

Amrita Ghosh — Thu, 16 Apr 2026 11:52:51 +0530

Gold Rate Today: Anyone planning to buy gold is in for shock today. A weak dollar and fears of a recession have made gold shine brighter. On April 16, the price of 24-carat gold shot past ₹1.55 lakh. Here are the latest rates in major Indian cities

India's financial capital, Mumbai, is also seeing a massive jump in gold prices. Today, 24-carat gold is selling for ₹1,55,350 per 10 grams, while 22-carat gold is available for ₹1,42,400.

Gold prices in Kolkata also went up on Thursday. Here, 24-carat gold is priced at ₹1,55,350 and 22-carat at ₹1,42,400 per 10 grams.

Gold Rate in Chennai

Among major cities, Chennai has the highest rates. Here, 24-carat gold has hit ₹1,56,220 per 10 grams, while the 22-carat rate is ₹1,43,200.

In Uttar Pradesh's capital, Lucknow, gold rates are the same as Delhi's. You will need to spend ₹1,55,500 for 10 grams of pure 24K gold. The price for 18-carat gold here is ₹1,16,660.

Gold Price in Patna Today

In Bihar's capital, Patna, 24-carat gold is trading at ₹1,55,400, while 22-carat gold is steady at ₹1,42,450 per 10 grams.

Bengaluru has also seen a jump in gold prices. Today, 24-carat gold costs ₹1,55,350 and 22-carat is at ₹1,42,400 per 10 grams.

Gold Rate in Hyderabad Today

In Hyderabad, prices are also trending high. Here, 24-carat pure gold is at ₹1,55,350, while 18-carat gold is priced at ₹1,16,510.

Disclaimer: This article is for general information only. The gold rates mentioned here are morning updates and can change due to market movements, taxes, and other factors. This is not investment advice. Before buying gold or investing, please consult your financial advisor and confirm the latest rates from a local jewellery store in your city.

UN launches 'Borrowers Platform' to tackle unfair global financing system

Asianet News Central — Thu, 16 Apr 2026 11:01:00 +0530

UN Secretary-General Antonio Guterres on Thursday took to social media platform X to announce the launch of The Borrowers Platform, a UN-supported mechanism launched this week that is a dedicated space for developing countries that are borrowers to come together, share knowledge, exchange experiences and speak collectively on debt issues and dealing with creditors.

Confronting an Unfair Financial System

Speaking at the launch, UN Secretary-General Antonio Guterres called it "a historic meeting" and "a breakthrough in global financing." He added, "We live with a deeply unfair international economic and financial ecosystem and a deeply unfair international financial architecture."

The problem, he said, is power. "Those that have dominated the international financial system have not been very supportive of the changes that are necessary to make it equitable." The platform flips that dynamic. For years, creditors have had the Paris Club, London Club, and the Institute of International Finance to coordinate positions. Borrowers had nothing.

Guterres recalled the words of one African president whose country went through restructuring under the G20 initiative: "All stakeholders were present at the negotiating table except the country itself." The cost of that gap is steep.

"Many countries are trapped in cycles of unresolved debt crises and held back by an unfair system of vast debt repayments that drain public resources and undermine long-term investment," Guterres said. Developing countries pay, on average, more than twice the interest rates faced by advanced economies. For African economies, the premium hits three times the benchmark rates. Interest payments on government debt in developing countries have more than doubled since 2014. Today, 3.4 billion people live in countries that spend more on servicing debt than on health or education. "Developing countries are forced to climb the development ladder with one hand tied behind their backs," Guterres noted.

The Platform's Four Core Goals

The Borrowers Platform is built around four goals.

Accelerate Learning and Peer Exchange

First, accelerate learning. With a "dizzying choice of creditors and credit instruments," countries often enter restructuring without knowing what works. The G20 Common Framework has completed deals for just three countries in 40 years. The platform creates a permanent space for peer exchange so members "enter negotiations armed with information and experiences gained from countries that traveled a similar path."

Tools for Equal Engagement

Second, give borrowers tools to engage as equals. "When both sides of the table are well informed and well prepared, negotiations move faster and the agreements take shape," Guterres said.

Send a Clear Market Signal

Third, send a clear market signal. "Better debt management, better data and better transparency directly affect how markets perceive risk," which can lower borrowing costs and create fiscal space for development.

A Collective Voice for Borrowers

Fourth, give borrowing countries a collective voice. "It is another step toward the global debt system that places borrowers at the center of discussions that determine their futures and ensure their perspectives are coordinated, informed and heard."

Leadership and Support

The initiative is led by a working group chaired by Egypt and vice-chaired by Pakistan, with representatives from Colombia, Honduras, Maldives, Nepal and Zambia as the initial group. UNCTAD will serve as the secretariat.

Guterres also acknowledged Spain's support through last year's Sevilla Commitment on financing for development. The Borrowers Platform, he added, "cannot generate solutions that allow countries to invest in these fundamentals and to do so on fairer, more sustainable terms." He urged all eligible countries to join, offering full UN support as the platform "moves from the launchpad to take-off." (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Indian markets surge as US-Iran deal hopes boost global sentiment

Asianet News Central — Thu, 16 Apr 2026 10:00:27 +0530

The Indian stock markets opened firmly higher on Thursday, mirroring strong gains across Asia-Pacific bourses as hopes of a US-Iran deal eased war-risk premiums and lifted global market sentiment. The Nifty 50 index opened with modest gains of around 500 points rising 0.6 per cent to 24,385.30 points in early trade on Thursday, while the BSE Sensex jumped 0.7% or 548.48 points to 78,647.26points.

All major sectoral indices traded in the green except the Nifty Pharma index that was marginally down. The Nifty IT and Nifty Media indices led the gainers among sectoral indices rising over 1% each.

Global Markets Rally on De-escalation Hopes

The S&P 500, which fully recovered from its Iran war losses on Monday, has risen 3% this week and is now hovering near record highs. The Nasdaq added around 5% for the week, logging its longest winning streak since 2019, while the Dow gained more than 1%. Asian markets opened broadly higher on Thursday, with Japan's Nikkei up 0.9% and Hong Kong's Hang Seng up 1.1%, as Wall Street's momentum spilled over.

Expert Commentary: 'Peace Dividend' Drives Sentiment

Market expert Ajay Bagga said the "war-risk" premium is evaporating fast. "The 'everything rally' has found its second wind. As of this morning, global markets are riding a wave of de-escalation optimism. The S&P 500 and Nasdaq have breached historic ceilings, effectively erasing the 'war discount' applied since the Middle East conflict intensified on 28th February into a shooting war and massive region wide escalation," he said.

Bagga noted that the "Peace Dividend" is now driving sentiment. "The primary engine behind today's green screens is the progress in US-Iran ceasefire talks. Investors are betting heavily that the two-week ceasefire will hold, with President Trump hinting that the conflict is 'close to over.' This optimism has triggered massive short-covering across global equities," he added.

The Bloomberg Dollar Spot Index is softening as safe-haven demand fades, giving "breathing room to emerging market currencies." Over the past month, investors have poured more than a net $111bn into US equity funds, while European and Asian funds saw net outflows.

Oil Prices and Market Reaction

Oil prices remained volatile but off their panic highs. The international benchmark Brent crude rose 0.23% at $95.15 per barrel. Brent had fallen as low as $93 earlier this week, easing fears of an energy shock. "In India, the Nifty 50 is hovering around the 24,000 mark as domestic investors cheer the cooling of Brent crude prices," Bagga said.

Market Outlook and Key Triggers

Mahesh M Ojha of Kantilal Chaganlal Securities maintained a positive view on the market. "We have positive view on Market as situation gradually improving from geo-political development, definitely we are able to recover the losses but it can take some more time," he said.

For Ojha, crude remains the key trigger. "Bigger factor from our prospective is crude. If crude is trading below $80 then we will recover losses earlier than expected but if any spike in crude above $120 then situation can be worse for market."

Key Sectors to Watch

He sees value in power and related sectors. "Power and power related sector currently looks attractive in first row, (renewable, wind, etc.)," he added.

China's Economic Surprise

Investors will also be watching China's first-quarter GDP data, which surprised to the upside. Gross domestic product grew 5% in the three months to March, data from the National Statistics Bureau showed Thursday, accelerating from 4.5% in the prior quarter.

"China's Q1 GDP figures surprised to the upside, suggesting that despite regional instability, the 'factory of the world' hasn't skipped a beat," Bagga noted. However, the growth outlook remains clouded by the Iran war-fueled energy shock threatening global demand. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)