Asianet Newsable

VO Chidambaranar Port Records 25 Million Tonnes Cargo in FY 2026-27

Asianet News Central — Tue, 27 Oct 2026 15:21:51 +0530

Cargo Performance and Milestones

V.O. Chidambaranar Port Authority has handled 25.18 million tonnes of cargo during FY 2026-27 up to October, registering a 3.01 per cent increase over 24.44 million tonnes handled in the corresponding period of the previous financial year, supported by higher cargo volumes and operational improvements.

The port crossed the 25-million-tonne cargo-handling milestone on October 24, 2026, while container traffic increased 1.76 per cent to 5.02 lakh twenty-foot equivalent units (TEUs), compared with 4.94 lakh TEUs in the year-ago period, according to a press release issued by the port authority on Tuesday.

Segment Growth and Operational Records

Among major cargo segments, coal handling increased 13.47 per cent to 10,459.94 tonnes from 9,217.90 tonnes in the corresponding period last year. Fertiliser handling also rose significantly to 5.70 lakh tonnes from 2.33 lakh tonnes a year earlier.

The port recorded its highest-ever single-day cargo handling of 2.17 lakh tonnes on September 5, surpassing its previous record of 2.16 lakh tonnes. It also handled M.V. CMA CGM THORIUM, measuring 335.23 metres in length, marking the longest vessel handled at the port to date.

Terminal and Rail Benchmarks

Terminal operations registered additional milestones in September. Tuticorin International Container Terminal at Berth No. 9 handled 33,771 TEUs across 32 vessels, its highest monthly throughput. Meanwhile, JSW Tuticorin Multipurpose Terminal discharged 43,052 tonnes of coal in 24 hours, exceeding its previous record of 41,853 tonnes.

Rail-based fertiliser movement also achieved new benchmarks. On September 29, the port recorded its highest single-day fertiliser loading by rail at 8,061 tonnes for FACT, KRIBHCO and IPL. Raja Agencies separately recorded a single-agent dispatch high of 6,376.9 tonnes of fertiliser in 100 railway wagons to destinations including Haveri, Sannath Nagar, Bellari and Katpadi.

Susanta Kumar Purohit, IRSEE, Chairperson of V.O. Chidambaranar Port Authority, congratulated port users, shipping lines, terminal operators, trade partners, employees and other stakeholders on the achievements. He said the milestone reflected the collective efforts of stakeholders, adding that the port would continue to focus on improving operational efficiency, strengthening rail and maritime connectivity, expanding infrastructure and facilitating seamless cargo movement to enhance its contribution to India's maritime trade and economic growth.

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

Indian Workplaces Face High Regulatory Compliance Risks Amid Audit Report

Asianet News Central — Tue, 27 Oct 2026 15:21:28 +0530

Regulatory Compliance Risks in Indian Workplaces

Indian workplaces continue to face significant regulatory compliance risks, with an audit of 52 sites operated by leading enterprises across 17 states and union territories identifying 4,694 instances of non-compliance, according to a report by TeamLease RegTech. The report covered factories, warehouses, corporate offices and mines. Every site included in the audit had compliance gaps, averaging around 90 per workplace.

Legal Exposure and Director Liability

The findings point to potential legal and financial exposure for businesses, including risks that could extend to company directors and senior officers. The report highlighted that around 70 per cent of the identified gaps were punishable offences, while 46 per cent carried the possibility of imprisonment. In addition, 29 per cent named directors or senior officers personally, while 31 per cent attracted fines that increase with each passing day.

Insights from Leadership

"Every leadership team we meet believes they are compliant. Yet every site we have audited reveals significant compliance gaps," said Rishi Agrawal, Co-founder and CEO, TeamLease RegTech. "The question for every board is whether it finds these gaps first or an inspector, a customer, or an investor does."

Complexity of Regulatory Frameworks

The report identified regulatory complexity as a key reason behind the gaps. It stated that Indian enterprises have to deal with three levels of government, seven categories of law, 21 types of regulatory instruments, and 41 types of compliance. Obligations can also change frequently across 3,756 union, state and local government websites, while states and local bodies prescribe their own thresholds, forms, wage structures and penalties.

Key Problem Areas

The report also mentioned that the Labour and environment laws accounted for 92 per cent of the identified gaps, with just 10 laws contributing nearly 60 per cent of the total. The findings suggest that compliance risks are concentrated in specific regulatory areas rather than being evenly spread across all laws. TeamLease RegTech said all the companies covered by the study had commissioned compliance audits. As a result, the findings represent a minimum level of exposure identified in the study rather than an estimate of compliance gaps across all Indian workplaces.

Recommendations for Enterprises

The report recommends that enterprises map every applicable law to each site and address gaps according to the severity of their legal consequences. It also calls for regular on-ground compliance audits that include contractors and warehouses.

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JP Morgan Maintains Overweight Rating on Paytm with 2100 Price Target

Asianet News Central — Tue, 27 Oct 2026 14:01:28 +0530

JP Morgan Maintains Overweight Rating on Paytm

Paytm has demonstrated the resilience of its merchant-led business model through sustained growth, cost discipline and improving operating performance, according to global brokerage J.P. Morgan, which maintained its 'Overweight' rating on the fintech company with a price target of ₹2,100.

In its latest report titled “First Take: All-round beat”, J.P. Morgan said Paytm's focus on its merchant franchise and sharp cost control following the resolution of regulatory restrictions has helped the company achieve EBIT breakeven, proving the resilience of its merchant-led model.

Growth and Operating Performance

The brokerage highlighted that Paytm's second-quarter FY27 results exceeded expectations across revenue and margins, with revenue growing 28% year-on-year, or 33% excluding PIDF incentives. Growth was broad-based, led by financial services, which expanded 49%, followed by marketing services at 26% and payments at 25%.

J.P. Morgan also noted accelerating consumer engagement, with monthly transacting users increasing 13% year-on-year, compared with average growth of 8% over the preceding three quarters. Merchant device deployments grew 19% year-on-year, further strengthening Paytm's payments ecosystem.

Efficiency and Future Outlook

The brokerage highlighted improving operating efficiency, with contribution margin expanding 71 basis points sequentially to 55.9%, ahead of its estimates. EBITDA margin also increased 190 basis points quarter-on-quarter to 10.2%, exceeding both J.P. Morgan and consensus expectations.

While J.P. Morgan flagged a moderation in GMV growth and potential near-term pressure from higher default loss guarantee costs, it expects EBITDA to continue expanding despite these additional expenses. The brokerage also noted that Paytm's merchant-led strategy has enabled the company to strengthen its business even without a sharp recovery in its consumer franchise. It expects EBITDA margins to reach 23% by FY29, supported by improving UPI economics.

Maintaining its 'Overweight' rating, J.P. Morgan said Paytm's broad-based revenue growth, improving customer engagement and stronger margins reinforced its positive investment outlook. The brokerage's assessment highlights how Paytm's merchant-focused strategy is translating into improving operating performance and a more resilient business model. (ANI)

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Tamil Nadu Bets On Aviation Tax Cut To Unlock Chennai’s Long-Stalled Global Connectivity Expansion

Vaishnav Akash — Tue, 27 Oct 2026 13:23:24 +0530

Tamil Nadu is expecting a boost in domestic and international air connectivity after slashing Value Added Tax (VAT) on aviation turbine fuel (ATF) at Chennai airport, a move designed to encourage airlines to deploy more aircraft and expand route networks from the city.

The state government's decision follows a series of discussions involving airline operators, the Airports Authority of India (AAI) and state officials focused on improving connectivity from Chennai. During those consultations, airlines repeatedly highlighted fuel taxation as a major obstacle to expansion, arguing that lower fuel costs would improve operational economics and support the launch of additional services.

Responding to those concerns, Tamil Nadu reduced VAT on ATF at Chennai airport from 29 per cent to 16 per cent. The measure is expected to lower operating expenses for carriers and improve the airport's competitiveness when airlines allocate aircraft across different locations.

Officials familiar with the discussions said air carriers welcomed the decision and have indicated plans to strengthen their presence in Chennai by increasing frequencies and evaluating new destinations.

The government has been actively seeking broader connectivity, both within India and internationally. Among the proposals discussed with airlines is a direct service linking Chennai and Japan, reflecting efforts to strengthen connections with major business and investment markets.

According to sources, one of Chennai airport's largest airline operators has indicated plans to expand flight operations by nearly 25 per cent. Another major carrier is understood to be considering an increase of around eight per cent in its services.

While these commitments are viewed positively, no definitive implementation timeline has been announced.

Industry officials caution that passengers should not expect immediate changes in schedules. Instead, any visible increase in flight frequencies or new route announcements may emerge gradually, potentially becoming more evident during future seasonal scheduling updates.

For years, the aviation sector has argued that fuel taxation plays a critical role in determining route viability, particularly in highly competitive markets where profit margins remain thin.

Government Targets Larger Aviation And Economic Footprint

The tax reduction forms part of a wider effort to position Chennai as a stronger aviation hub capable of attracting greater airline investment and passenger traffic.

Stakeholders believe connectivity growth depends not only on airline incentives but also on strengthening underlying demand. Some industry observers argue that attracting more high-value industries, investments and skilled employment opportunities will further support long-term growth in passenger volumes.

Higher levels of economic activity typically create demand for business travel, international connections and cargo services, making route expansion more commercially sustainable.

The aviation sector responded positively to the policy announcement. Major carriers including IndiGo, Air India and Akasa Air publicly welcomed the VAT reduction, viewing it as a step that could enhance the economics of operating from Chennai.

The government's strategy appears aimed at converting that financial advantage into increased connectivity.

Officials hope that lower costs will encourage airlines not only to expand existing networks but also to consider destinations that may previously have struggled to meet commercial viability thresholds.

Whether those expectations translate into tangible growth will become clearer over the coming months as airlines finalise route planning and fleet deployment decisions.

The success of the policy will ultimately be measured not by the tax reduction itself but by whether airlines follow through with expanded schedules, new international routes and greater overall capacity at one of India's busiest airports.

Apple Moves To Replace Faulty iPhone Duo Devices After Early Display Issues Surface Among Buyers

Vaishnav Akash — Tue, 27 Oct 2026 12:57:41 +0530

Apple has announced a replacement programme for a limited number of its newly launched foldable iPhone Duo devices after some users reported problems affecting the inner display only days after the product reached customers.

The move comes less than a week after Apple began shipping the iPhone Duo, its first entry into the foldable smartphone market. Demand for the device was strong from the outset, with initial online inventory selling out rapidly and customers lining up at stores in several markets to secure units.

Reports of display-related issues began appearing over the weekend, however, as users shared images showing cracks and visible lines forming along the inner screen near the central folding hinge.

Responding to the complaints, Apple acknowledged that a small number of devices were affected and confirmed that impacted customers would be eligible for replacements.

In a statement, the company said it was aware of a problem affecting the inner display on a limited number of iPhone Duo units. Apple advised customers experiencing screen issues to contact AppleCare for a replacement device.

The technology giant did not specify the cause of the problem or indicate how many devices might be affected.

The announcement represents Apple's first major post-launch challenge for a product widely viewed as one of the company's most important hardware releases in years.

Analysts had previously noted that manufacturing foldable devices presents greater engineering complexity than traditional smartphones, leading to expectations that supply availability could remain constrained following launch.

The iPhone Duo features a book-style folding design that unfolds into a larger display, placing it in direct competition with established foldable devices already offered by rival manufacturers.

Investigation Points To Possible Stress Near Foldable Hinge Area

Independent repair and electronics analysis company iFixit has examined the reported failures and released preliminary findings based on available teardown footage, patent documentation and computed tomography scans.

According to the company, its engineers created a three-dimensional simulation of the foldable hinge system and compared it with damage patterns reported by users.

The analysis suggested that many of the reported problems appeared near an area beneath the display where a cable passes close to a central support structure.

iFixit said its simulation indicated the support mechanism may not always move completely out of the display's path while the device is being folded. The resulting pressure could potentially create a localised stress point close to the area where damage has been reported.

Apple has not publicly commented on those findings.

Despite identifying the possible source of the issue, iFixit also described the iPhone Duo as the most repairable foldable smartphone it has evaluated to date, suggesting that Apple may have improved accessibility for repairs compared with competing products.

Industry observers have broadly welcomed Apple's decision to move quickly.

Francisco Jeronimo, a vice president at market research firm IDC, said a rapid replacement programme represents an appropriate first response to the issue. He noted that the broader foldable-phone market has previously experienced similar challenges during the early stages of product development.

The comparison inevitably recalls Samsung's original Galaxy Fold launch in 2019, when durability concerns emerged soon after the device reached reviewers. Industry analysts often cite Samsung's response as an example of how transparency and swift corrective action can help prevent longer-term damage to a product category.

OpenAI Models Produce Breakthrough Mathematical Proofs and Results

Asianet News Central — Tue, 27 Oct 2026 11:21:21 +0530

OpenAI AI Models Achieve Major Scientific Breakthroughs

OpenAI said its AI models have produced mathematical proofs that refute a longstanding computer science hypothesis and establish results in mathematics and theoretical physics, as the company brings together independent academic experts to verify the findings and assess their implications. The company announced three results covering harmonic analysis, computational complexity and quantum field theory, including a proof that refutes the Exponential Time Hypothesis (ETH), a widely used conjecture about the computational effort required to solve certain problems.

Refutation of the Exponential Time Hypothesis

“Surprisingly, our system has recently proved that the ETH is false, a result that was subsequently verified in Lean,” OpenAI said. The ETH has been used in hundreds of research papers to establish limits on how efficiently computational problems can be solved across fields such as graph theory, computational biology, databases and computational geometry. OpenAI said the finding “reopens questions about how much faster these tasks could become, and may help guide the search for better algorithms”. However, it cautioned that “finding such algorithms, and turning theoretical advances into practical improvements, will require significant further research”.

Advancements in Harmonic Analysis and Physics

The company said its models had also produced a proof of the local smoothing conjecture in harmonic analysis across all dimensions. According to OpenAI, this also resolves the Kakeya conjecture and Stein's restriction conjecture in all dimensions. In theoretical physics, OpenAI said its work provides a mathematically rigorous existence proof for certain interacting quantum field theories in four dimensions, including quantum chromodynamics (QCD), which describes the interactions of particles such as quarks and gluons through the strong force. The work also includes a proof concerning the existence of pure Yang-Mills theory, part of a longstanding mathematics problem.

Collaborative Verification and Future Outlook

OpenAI is adopting different approaches to release the findings, depending on recommendations from external academic experts. For the computer science result, the group will make the natural-language proof and its Lean formalisation publicly available for independent examination. For the physics result, the group has decided to prepare its own account before releasing the AI-produced materials. The company said the collaborations would follow principles of transparency, recognition and independence, with participation voluntary and unpaid. Researchers will be free to discuss the work and publish their conclusions. “We do not yet know which of these three approaches will be most useful, and we welcome feedback on what works and what we can improve,” OpenAI said.

The company also said it had committed to funding a conference to examine the implications of the computer science finding and was supporting research through a USD 5 million contribution to the Simons Foundation. OpenAI said it hoped the results would mark the beginning of a shift towards greater use of AI in scientific discovery, while emphasising the need for independent researchers to examine and explain the findings. (ANI)

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India Housing Sector Faces Sales Volume Pressure and Inventory Buildup

Asianet News Central — Tue, 27 Oct 2026 11:21:27 +0530

India Housing Sector Market Outlook

India's housing sector is likely to face continued pressure on sales volumes in CY26, meanwhile luxury housing sales are expected to moderate, leading to a “buildup of inventory” in this segment, according to a report by Nuvama. As per Nuvama, this pressure will likely come on the back of declining home affordability, limited availability of mid-income housing and weak job creation.

Regional Sales Performance

The brokerage noted in its report that housing sales declined 3 per cent year-on-year (YoY) and 17 per cent month-on-month (MoM) in September 2026. This was driven by a 16 per cent YoY drop in Chennai, 9 per cent in Pune, and 24 per cent each in the Mumbai Metropolitan Region (MMR) and Hyderabad. However, “The NCR and Bengaluru were the only two cities that witnessed absorption rising 3–6% YoY each in Sep-26,” it noted.

Premiumisation and Market Trends

Nuvama highlighted, the sector is witnessing a “premiumisation trend,” as the decline in housing sales volumes was sharper than the fall in sales value. Across the top seven cities, housing sales volumes declined 8 per cent YoY in September 2026, while sales value fell by just 3 per cent YoY, indicating a shift towards higher-priced properties. Meanwhile, new housing launches across these cities remained subdued, with supply declining 14 per cent YoY and 26 per cent month-on-month (MoM) during the month.

It further added that housing sales by value rose 12 per cent YoY and 6 per cent quarter-on-quarter (QoQ) in the second quarter of financial year 2026-27 (Q2FY27), driven by a 34 per cent YoY surge in NCR, followed by 11–12 per cent growth each in Hyderabad and the Mumbai Metropolitan Region (MMR). At the same time,“Launches by value declined 12% YoY/33% MoM in Sep-26,” it noted, adding, “Given the luxury/premium housing segment is performing well, prices have surged across most major cities.”

Long-term Forecast

Overall, Nuvama believes, “there is unlikely to be a long-lasting solution to concerns around: weak volume growth in light of falling home affordability and inadequate availability of mid-income houses and job generation (Link) amid tariff wars/K-shaped growth in the economy.” “We forecast a moderation in increasing housing prices in CY26; we believe price appreciation will be in mid-single digit at best,” it said.

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

Noel Tata Challenges Reappointment of N Chandrasekaran at Tata Sons

Asianet News Central — Tue, 27 Oct 2026 11:01:21 +0530

Noel Tata Challenges N Chandrasekaran's Reappointment

Tata Trusts Chairman Noel Tata has raised objections to the reappointment of N Chandrasekaran as Executive Chairman of Tata Sons, alleging procedural irregularities in the board meeting that approved the decision and questioning the validity of the resolution. In a letter dated October 26 to Suprakash Mukhopadhyay, Company Secretary and Group Corporate Secretary of Tata Sons, Noel Tata said the reappointment resolution was moved at the board meeting held on September 17 despite the absence of a specific reference to the matter in the agenda circulated to directors.

He also alleged that the company had not provided him with the meeting's audio and video recordings, the final minutes or a certified copy of the resolution, despite his repeated requests. "The resolution is void," Noel Tata stated in the letter, arguing that the reappointment did not comply with the relevant provisions of Tata Sons' Articles of Association.

Concerns Over Procedural and Governance Norms

According to Noel Tata, no Selection Committee was constituted under Article 118, and no recommendation from such a committee was placed before the board. He further contended that the affirmative vote of directors appointed under Article 104B, as required under Articles 118 and 121, had not been obtained. The letter also stated that the resolution had been put to vote subject to conditions that had not been fulfilled.

Noel Tata questioned the manner in which the agenda was handled, saying the original agenda described item 7 as a "Debriefing from Nomination and Remuneration Committee". Although the agenda was subsequently revised to include discussions on a Reserve Bank of India letter and related caveat applications, it did not explicitly refer to Chandrasekaran's reappointment, he said. He also objected to the company treating the resolution as final while the board meeting's records remained contested.

Demands for Transparency and Documentation

"The recording is the only neutral record of what transpired," Noel Tata wrote, seeking the complete audio and video recording of the September 17 meeting and any transcript of the proceedings. He said the company had failed to provide the recording despite two written requests made over a period exceeding three weeks. He also questioned the circulation of a certified copy of the resolution in the public domain and its reported filing with the Registrar of Companies before the minutes had been finalised.

The letter stated that the company had certified the resolution as passed without reference to the conditions subject to which it was put to vote, even as Noel Tata's objections and dissent remained unresolved. "It is unacceptable that, despite being a Director of the Company, I have not been furnished with certified true copy of the resolution," he wrote, adding that he had been constrained to rely on a version circulating in the public domain.

Noel Tata has sought a series of documents and clarifications from the company within seven days, including the meeting recordings, final or revised minutes, voting details, the formal notice and versions of the agenda, and documents filed with the Registrar of Companies and the Ministry of Corporate Affairs. He has also requested that Tata Sons inform the Registrar in writing that the resolution's validity is disputed by a director nominated under Article 104B and by Sir Dorabji Tata Trust, and that no further steps be taken on the resolution until the meeting's record is settled. (ANI)

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Nifty Valuation Reset Offers Prime Opportunity for Investors Says Expert

Asianet News Central — Tue, 27 Oct 2026 10:31:21 +0530

Market Outlook and Valuation

The recent 4 per cent slide in the Nifty index has brought the market to a crucial and attractive valuation reset level for investors looking at medium-to-long-term returns, Shrikant Chouhan, Head of Equity Research at Kotak Neo, said on Tuesday. Speaking exclusively with ANI, Chouhan noted that the market has repeatedly tested key support levels and appears well-positioned despite ongoing global volatility. "Fundamentally, we are very clear that if someone enters at these levels with a view of the next 6 to 12 months, we can see positive returns," Chouhan said. He highlighted that market valuations have corrected significantly compared to previous years.

Technical Analysis and Market Volatility

On technical parameters, Chouhan pointed out that Nifty has consistently found strong support around the 22,200 mark. "Technically, multiple times the market has taken support around 22,200," he said. "If the market manages to cross the level of 22,800, then we can expect a quick recovery towards 23,200."

Addressing the heightened volatility in mid-cap and small-cap stocks, Chouhan explained that profit-taking in high-beta counters is largely driven by key global events, including the US Federal Reserve's policy outcome and upcoming elections in Israel and the US. "Smart investors must have taken some profit on high-beta stocks... and entered into those large-cap stocks which are fundamentally strong and having little downside," Chouhan stated. He advised investors to remain flexible and build exposure in select mid-cap and small-cap companies alongside large caps over the long run.

Macroeconomic Factors and Sectoral Strategy

Global Challenges

On global macroeconomic factors, Chouhan expressed caution over elevated crude oil prices and interest rate trajectories. "The commentary will remain hawkish," Chouhan warned, referring to central bank policies. "In case crude goes above the mark of 120, then it may spoil the show." He also noted that market sentiment faces minor pressure due to India’s limited exposure to AI-driven tech sectors compared to global peers. However, solid domestic quarterly earnings continue to provide underlying stability.

Preferred Sectors

Outlining sectoral opportunities, Chouhan favored private banking, defence, and pharmaceutical segments. "Private banks, I think there we are bullish... From the defence space also, we are selectively bullish," he said. He added that pharma companies, particularly in the CDMO space, show strong growth potential following Q2 results. Conversely, Chouhan recommended caution regarding insurance, hospitals, and commodities. He noted that regulatory interventions affect healthcare and insurance, while commodity stocks face near-term pressure from a rising US Dollar Index.

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Indian Equities Open Lower Amid High Crude Oil Prices and Fed Caution

Asianet News Central — Tue, 27 Oct 2026 09:51:21 +0530

Market Overview and Performance

Indian equity markets opened lower on Tuesday, with the Sensex falling over 300 points and the Nifty slipping below the 22,690 mark, as crude oil prices hovered near USD 115 per barrel and investors remained cautious ahead of the US Federal Reserve's monetary policy decision later this week. Brent crude was trading at around USD 114.91 per barrel while crude oil was trading at around USD 100.85 per barrel at the time of reporting. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited noted, "Brent crude remaining above USD 114 and the US 10-year bond yield hovering around 4.97% continue to be near-term headwinds for the market.” Both the benchmark indices opened with a gap-down. Sensex opened at 73,484.38 against the previous close of 73,606.75 and was trading at around 73,229.2, down 377.47 points or 0.51 per cent at the time of reporting. Likewise, Nifty opened at 22,708.80 and was trading at around 22,676.70, down 76.50 points or 0.34 per cent against the previous close of 22,753.20.

Sectoral Performance and Market Movers

Sectorally, the market witnessed mixed performance in early morning trade, with metal, IT, FMCG, oil and gas, and cement stocks facing selling pressure, while most broader market indices traded in the green. On NSE, Tata Consumer, BEL, Max Health, Bajaj Auto, BSE, Sun Pharma, NTPC, Eternal, Hindalco, Power Grid, Maruti, LT, Indi Go, Dr. Reddy, Bharti Airtel, Nestle, among others were the top gainers. Infosys, Asian Paints, Hindustan Unilever, JSW Steel, TCS, HCL Tech, Bajaj Finserv, Grasim, Cipla, ICICI Bank, ONGC, Coal India, Tech Mahindra, ITC, Reliance, TMPV, Titan, among others were the top losers. On BSE, BEL, Eternal, Power Grid, Maruti, NTPC, Indi Go, Sun Pharma, LT, M&M, Adani Ports, Kotak Bank, among others were the top gainers. Infosys, TCS, Asian Paints, Hindustan Unilever, Bajaj Finserv, Tech Mahindra, HCL Tech, Reliance, ITC, Trent, Titan, among others were top losers.

Expert Perspectives and Technical Outlook

Vijayakumar added, FIIs will remain in a risk-off mode in this adverse macro setting. However, the improving fundamentals of the corporate sector as reflected in Q2 earnings and the robust domestic fund inflows will continue to support the market. “The imminent US mid-term elections will have an impact on the market. Polls indicate the Republican Party losing the House of Representatives and a tough fight in the elections to the Senate. A big setback to the Republican Party will considerably erode the President’s power. But the mercurial President Trump may react in an unexpected manner in his Iran strategy. There can be unexpected developments in the Middle East, with consequences for crude prices. Investors may closely watch the developments and decide based on the emerging scenario. Value buying opportunities should not be missed,” he said.

Market analyst Vipin Dixena noted, “Elevated crude prices could increase input and transportation costs, pressure corporate margins and widen India’s import bill. Combined with currency risks and uncertainty around global interest rates, this could constrain earnings growth. However, quarterly results are creating selective opportunities.”

Technical Resistance and Support Levels

“Indian equities face renewed pressure today after Monday’s recovery. I believe the sustainability of any recovery will depend on whether domestic buying can continue to absorb foreign outflows,” he said. Technically, “Immediate resistance lies at 22,875–23,000, while support is around 22,500, followed by 22,250. A sustained move above resistance could extend the recovery, whereas a break below support may trigger renewed selling,” Dixena noted. (ANI)

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India-US Trade Portal Sees 3500 Registrations Boosting MSME Exports

Asianet News Central — Tue, 27 Oct 2026 09:41:24 +0530

India-US Trade Portal Gains Momentum

New Delhi [India], October 27 (ANI): The India-US Trade Facilitation Portal has recorded around 3,500 registrations within a few months of its launch, Commerce and Industry Minister Piyush Goyal said, highlighting the platform's potential to help Indian businesses, particularly micro, small and medium enterprises (MSMEs) and first-time exporters, access the US market.

In a post on X, Goyal said the portal was connecting businesses in India and the United States and creating opportunities for exporters to build partnerships, explore new markets and expand their global reach. “Trust. Trade. Opportunities. This Trade Facilitation Portal is a landmark initiative seamlessly connecting businesses on both sides,” Goyal said.

Promoting Bilateral Trade Engagement

He described the response to the platform as “encouraging”, saying the registrations reflected its growing significance in promoting trade engagement between businesses in the two countries. Goyal said the initiative would be particularly useful for smaller businesses and exporters seeking to establish international partnerships.

“It will open up new opportunities for Indian businesses, particularly MSMEs & first-time exporters, to forge partnerships, explore new markets & expand their global reach,” he said.

Portal Features and Digital Connectivity

The portal is a digital business-to-business (B2B) marketplace launched by the Consulate General of India in New York in collaboration with other Indian consulates in the US and the Embassy of India in Washington DC. Designed to connect Indian exporters with US-based buyers, the platform allows Indian businesses to showcase their products and capabilities, while enabling American buyers to explore Indian offerings across sectors.

The portal includes features such as category-wise product listings, search facilities and personalised dashboards. These tools allow users to monitor trade activity, track business leads, review sales performance and assess user engagement, according to the information shared. It also hosts virtual exhibitions and curated showcases to help businesses promote their products, network with potential partners and explore sector-specific opportunities.

The platform aims to simplify cross-border business interactions by providing a common digital space for exporters and buyers to discover products and establish connections. Its growing registrations could help broaden participation in India-US trade, particularly among businesses looking to enter the US market. (ANI)

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Anthropic Warns TSMC Reliance Poses Risks to Its Global AI Business

Asianet News Central — Tue, 27 Oct 2026 09:41:21 +0530

Anthropic Highlights Risks of TSMC Dependency

Artificial intelligence company Anthropic has warned that disruptions to Taiwan Semiconductor Manufacturing Company’s (TSMC) operations could adversely affect its business, highlighting the critical role of the Taiwanese chipmaker in the global supply chain powering advanced AI systems. In its registration statement filed with the US Securities and Exchange Commission (SEC) on October 26, Anthropic flagged the concentration of advanced semiconductor manufacturing in Taiwan as a significant risk to its ability to secure the computing resources required to train and deploy its AI models.

“The majority of the world’s most advanced chip manufacturing capacity is concentrated in Taiwan, primarily at Taiwan Semiconductor Manufacturing Company (‘TSMC’),” the company said in the filing. Anthropic said this concentration exposes the supply chain to a range of potential disruptions, including natural disasters, geopolitical tensions between Taiwan and China, and interruptions to essential infrastructure such as electricity and water supplies. The company cautioned that “Any military conflict, tariffs and trade restrictions, economic coercion, blockade, natural disaster, or other incident affecting Taiwan could severely disrupt the global supply of advanced chips”. It added that the effects of such a disruption could be prolonged because of the time needed to establish alternative manufacturing facilities.

Supply Chain Constraints and Future Outlook

“Efforts to establish sufficient advanced chip manufacturing capacity outside of Taiwan, including in the United States, remain in early stages and may not produce adequate compute to materially reduce these concentration risks within the foreseeable future,” Anthropic said. The filing also highlighted existing supply constraints, noting that TSMC has at times been unable to meet the full demand for chip manufacturing capacity, leaving Anthropic without sufficient quantities of chips on a timely basis.

“Accordingly, any restrictions or delays on the supply of advanced chips out of Taiwan or TSMC would adversely affect our business, financial condition, and results of operations,” the company said. The warning underscores the importance of semiconductor manufacturing capacity to the rapidly expanding AI industry, where advanced chips are essential for training sophisticated models and running them at scale. Anthropic explained that the computing resources needed for AI development depend on a supply chain with multiple potential points of constraint or failure.

Impact on AI Model Development

The availability, pricing and delivery timelines of computing resources are affected by advanced chips, other information technology equipment, electricity and data centre infrastructure. “The compute necessary for training and deploying frontier models depends on a supply chain with multiple potential points of constraint or failure,” the filing said. Anthropic, which develops the Claude family of AI models, also noted that limited manufacturing capacity for high-performance chips and memory could constrain its ability to secure the computing resources needed to support growing customer demand. The company’s disclosure highlights how the AI sector’s expansion depends not only on advances in software and model capabilities but also on the resilience of a highly concentrated global semiconductor supply chain.

The registration statement was filed as part of Anthropic’s proposed initial public offering (IPO). The preliminary prospectus says the company has applied to list its Class A common stock on the Nasdaq Global Select Market under the symbol “ANT”.

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

India-EU Trade Pact Will Open Opportunities for Industry: Piyush Goyal

Asianet News Central — Tue, 27 Oct 2026 09:01:20 +0530

Trade Agreements to Drive Industrial Growth

Union Commerce and Industry Minister Piyush Goyal has said that the India-European Union Free Trade Agreement (FTA), along with trade agreements with the UK and European Free Trade Association (EFTA) countries, will open up significant opportunities for Indian industry, boost investments and create employment on a large scale. Speaking to ANI in The Hague, Goyal said there was considerable enthusiasm among European countries and Indian businesses over the trade agreements, adding that the pacts would facilitate technological collaboration, strengthen industrial ties and expand opportunities across multiple sectors.

“There is great enthusiasm surrounding the Free Trade Agreement (FTA) between the European Union and India. We are leading delegations to various European nations. The Indian industrial sector is seen as holding immense potential. These agreements will pave the way for large-scale investments and extensive technological collaborations,” Goyal told ANI.

Expanding Market Access and Economic Ties

Highlighting the opportunities in labour-intensive industries, services, education and technology, the minister said the trade agreements would help Indian businesses deepen their presence across European markets. “Through our agreements with the European Union, including the EFTA nations and the UK, we have effectively opened the entire European market to Indian industry,” he said.

Goyal said the agreements would contribute to Prime Minister Narendra Modi’s vision of a ‘Viksit Bharat 2047’, while creating opportunities for farmers, the fishing community, micro, small and medium enterprises (MSMEs), and educational and technological institutions. He expressed confidence that the trade pacts would attract substantial investments into India and generate employment opportunities on a large scale.

Strengthening Bilateral Cooperation

“I can assure you that there is immense potential between European countries and India. They are as excited as Indian companies. Businesses are looking at complementary strengths and together we believe we will not only be efficient for each other and good for each other, but we will also capture global markets,” Goyal said.

The minister’s remarks come amid India’s efforts to strengthen economic engagement with European partners and expand market access for Indian businesses through trade agreements. The proposed India-EU FTA is expected to provide a framework for deeper trade and investment ties between the two sides, while India’s existing trade agreements with the UK and EFTA countries are aimed at expanding commercial opportunities and strengthening economic cooperation.

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

Paytm Q2 Results: Profit Surges 10x to Rs 225 Crore as Revenue Grows

Asianet News Central — Tue, 27 Oct 2026 08:41:19 +0530

Paytm Reports Significant Q2 FY27 Financial Growth

One 97 Communications Ltd (Paytm) on Monday announced its Q2 FY27 results, reporting an over 10-fold rise in profit after tax (PAT) to ₹225 crore for the September quarter, from ₹21 crore a year ago, on a reported basis. During the quarter, Paytm revenue rose 28% YoY to ₹2,648 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 90% YoY to ₹270 crore, its highest ever for a quarter, with the EBITDA margin expanding to 10%, reaching double digits for the first time.

On a comparable basis, excluding the Payments Infrastructure Development Fund (PIDF) incentive received until December 2025, underlying growth was even stronger, with operating revenue growing 33% and EBITDA nearly quadrupling. The company said AI-led efficiencies helped reduce indirect expenses as a share of revenue to 46% from 52% a year ago. The company also continued to gain consumer UPI payment market share, with Paytm UPI gross transaction value (GTV) growing at more than double the industry growth rate. This marks its sixth consecutive profitable quarter, as sustained momentum, expanded monetisation and AI adoption drove growth across its merchant and consumer businesses.

Breakdown of Core Business Segments

Payment Services Performance

Payments remained a key growth driver, with payment services revenue rising 25% YoY to ₹1,434 crore, while net payment revenue grew 21% YoY on a comparable basis to ₹644 crore. Paytm’s merchant base also expanded, with merchants on subscription plans reaching 1.64 crore following the addition of 27 lakh YoY, while high merchant retention and engagement, and subsequent loan distribution are resulting in higher revenue per merchant.

Consumer and Financial Services Expansion

On the consumer payments side, the company said it is focused on its monetisable user base. Paytm recorded its sixth consecutive quarter of market share gains. Monthly transacting users rose by 1 crore YoY to 8.5 crore, the highest addition in nearly three years. Revenue from distribution of financial services rose 49% YoY to ₹912 crore, driven by accelerating growth in merchant loan distribution, strong growth in personal loans and Paytm Postpaid, and improved monetisation in equity broking and wealth products, especially in Margin Trade Funding (MTF) and Paytm Gold. Repeat borrowers contributed more than half of merchant loan disbursements, while key financial services customers grew 35% YoY to 8.8 lakh.

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

Piyush Goyal Explores Global Partnerships in Chips and Clean Energy

Asianet News Central — Tue, 27 Oct 2026 08:31:19 +0530

Strengthening Global Partnerships in Technology and Energy

India is exploring deeper partnerships with global companies in semiconductors, manufacturing and clean energy, with Commerce and Industry Minister Piyush Goyal holding meetings with executives from ASML, Nexperia, IKEA parent Ingka Group and Power2X to discuss investment, technology collaboration and supply chain opportunities.

In posts on X, Goyal highlighted opportunities to strengthen India's semiconductor ecosystem, expand manufacturing and sourcing capabilities, and deepen cooperation in renewable energy and green hydrogen.

Boosting the Semiconductor Value Chain

During his meeting with Wayne Allan, Executive Vice President and Member of the Board of Management of ASML, Goyal discussed ways to deepen the company's engagement with India, particularly in advanced semiconductor technologies, innovation and skill development.

“With a strong policy push in India, growing investments, and an expanding talent pool, we explored avenues for collaboration in cutting-edge semiconductor technologies, innovation, and skilling to strengthen India's position in the global chip value chain,” Goyal said.

He also met Stefan Tilgner, Interim CEO of Nexperia, to discuss greater collaboration in semiconductors. Goyal said India's expanding electronics manufacturing capabilities and technology ecosystem offered scope for stronger partnerships and more resilient semiconductor supply chains.

Retail Expansion and Clean Energy Cooperation

In a separate meeting with Juvencio Maeztu, CEO and President of Ingka Group, which operates IKEA, discussions focused on India's growing consumer market and its manufacturing capabilities. “Discussed opportunities offered by our growing consumer market & how IKEA can leverage India's manufacturing capabilities to strengthen its global sourcing network,” Goyal said, while also considering opportunities for the group to expand its presence and deepen investments in the country.

The minister also met Occo Roelofsen, Founder and CEO of Power2X, to discuss India-Netherlands cooperation in green hydrogen, renewable energy and emerging technologies. The discussions focused on identifying opportunities for mutual growth while advancing shared clean energy ambitions, Goyal said.

The meetings come as India seeks to strengthen its role in global semiconductor supply chains, attract investment into manufacturing and build partnerships in emerging energy technologies. The discussions could open avenues for further collaboration in technology development, skills, sourcing and clean energy. (ANI)

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

Gold, Silver Prices Today, October 27: Gold Rebounds, Silver Steady; Check City-Wise Rates

Deevika NM — Tue, 27 Oct 2026 08:10:28 +0530

Gold and silver prices today, October 27, 2026: Precious metal markets are showing signs of recovery after a sharp correction last week, with investors closely tracking crude oil prices, movements in the US dollar and the Federal Reserve's upcoming policy decision. Buyers planning to purchase jewellery or bullion should check the latest city-wise rates before visiting a jeweller.

According to the bullion market, gold prices in Delhi recovered on Monday, supported by a weaker rupee and a modest improvement in international markets. Silver prices in the national capital remained steady after recording losses over three consecutive sessions.

Gold and Silver rates today - October 27, 2026

City	22K Gold (10g)	24K Gold (10g)	Silver (1kg)
Delhi	Rs 1,31,000	Rs 1,42,900	Rs 2,20,000
Mumbai	Rs 1,30,850	Rs 1,42,750	Rs 2,20,000
Kolkata	Rs 1,30,850	Rs 1,42,750	Rs 2,20,000
Chennai	Rs 1,30,850	Rs 1,42,750	Rs 2,20,000
Bengaluru	Rs 1,30,850	Rs 1,42,750	Rs 2,20,000
Hyderabad	Rs 1,30,850	Rs 1,42,750	Rs 2,20,000

Source: Goodreturns. Rates are indicative and may vary by jeweller and locality. GST and making charges may apply.

Why are gold and silver prices fluctuating?

International bullion prices have been under pressure amid rising energy costs, inflation concerns and expectations that US interest rates could remain elevated for longer. Higher bond yields and a stronger dollar can make gold less attractive because the metal does not generate interest.

However, a pullback in crude oil prices has offered some support to gold by easing concerns about inflation. Investors are now watching the US Federal Reserve's October 27–28 policy meeting for clues about the future direction of interest rates.

Anindya Banerjee, Head of Commodities Research at Kotak Neo, told ANI that precious metals are responding more to changes in US real interest rates and dollar strength than to traditional safe-haven demand.

Meanwhile, silver prices remain sensitive to both investment sentiment and industrial demand. Market participants will continue monitoring global economic indicators, geopolitical developments and currency movements for fresh direction.

Buyers should remember that retail jewellery prices may differ from indicative market rates because of local charges, taxes and making costs.

Tightening Banking Liquidity Pushes Up Short Term Borrowing Rates RBI

Asianet News Central — Tue, 27 Oct 2026 08:01:19 +0530

Banking System Liquidity Under Pressure

Tightening liquidity in the banking system has pushed up short-term borrowing rates and prompted the Reserve Bank of India (RBI) to inject funds into banks, while rising oil prices are adding pressure on government bond yields, according to a report by ICICI Bank. The report said the banking system’s surplus liquidity fell sharply due to Goods and Services Tax (GST) payments, higher cash reserve requirements and other factors. The surplus stood at Rs 50,000 crore, or 0.2 per cent of net demand and time liabilities (NDTL), as of October 23.

“System liquidity surplus declined sharply on account of outflows for GST payments, which led to the RBI conducting VRR operations,” the report said. The RBI has started conducting variable-rate repo (VRR) auctions to provide short-term funds to banks, including a seven-day operation worth Rs 1 lakh crore, the report added.

Impact on Borrowing Rates and Bond Markets

The tighter cash position pushed the weekly average call rate, the rate at which banks borrow from one another for short periods, to 5.70 per cent from 5.48 per cent in the previous week. The average market repo rate also rose to 5.66 per cent from 5.37 per cent, while the triparty repo rate increased to 5.65 per cent from 5.55 per cent. ICICI Bank expects the RBI to continue these liquidity operations. However, government spending towards the end of the month and the maturity of government securities worth Rs 35,400 crore could release funds into the banking system, easing pressure on short-term rates.

Government Bond Yields and Economic Indicators

Government bond yields have also come under pressure as oil prices rise amid the ongoing conflict in West Asia, raising concerns about inflation and the possibility of higher interest rates. Weak demand at the Centre’s government securities auction reflected negative market sentiment, the report said. The average cost of government borrowing at the auction rose by 20 basis points to 7.60 per cent, while the bid-to-cover ratio stood at 1.9, below the long-term average of 2.8. The ratio measures demand for government securities against the amount offered.

ICICI Bank expects the 10-year benchmark government bond yield to trade between 7.40 per cent and 7.60 per cent in the near term. It cautioned that elevated oil prices could weigh on bond prices. Markets will also watch the US Federal Reserve’s policy decision this week, along with decisions by the European Central Bank and the Bank of Japan and US third-quarter GDP data, the report said.

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

Microsoft Launches Voluntary Exit Program for 60000 Staff Globally

Asianet News Central — Mon, 26 Oct 2026 23:21:14 +0530

Microsoft Announces Voluntary Exit Offer

Microsoft has extended buyout offers to approximately 60,000 employees across four countries, India, the United States, the United Kingdom, and Canada, as the tech giant moves to adjust its global workforce through a voluntary departure scheme. In an internal memo sent to employees on Monday, Amy Coleman, Executive Vice President and Chief People Officer at Microsoft, announced the introduction of the Voluntary Exit Offer (VEO) for eligible staff within participating organisations. The buyout program is aimed at employees at level 70 and below who are considering a future outside the company.

"Today, we’re introducing a new Voluntary Exit Offer (VEO) to eligible employees within participating organisations. This offer gives eligible employees who may be considering a future outside the company a new choice to make that transition now with support," Coleman stated in the communication. "It also gives participating organisations another way to adapt their workforce to changing needs."

Strategic Workforce Realignment

The 60,000-person rollout across key global hubs in India, the US, UK, and Canada follows earlier efforts by Microsoft to streamline its organisation, building upon insights gained from its "Voluntary Retirement Program" launched earlier in the year. According to Coleman, the buyout offer will provide departing employees with financial compensation packages alongside dedicated career planning resources. However, the company stressed that the buyout scheme will not be applied universally across all internal teams, with availability dictated by operational demands.

"Some organisations are providing the Voluntary Exit Offer, and some are not. Participation varies based on each business’s priorities, customer commitments and workforce needs," Coleman noted, informing staff that eligible individuals would receive emails containing specific offer details.

Program Implementation and Vision

Addressing the broader strategic shift represented by the massive buyout offer, Coleman acknowledged that the program is a novel initiative for the company as it seeks to meet shifting business demands while providing flexibility for its workforce. "The Voluntary Exit Offer is new for us. We’ll learn from it," Coleman wrote. "At the same time, we’ll keep helping people focus on the work that matters most, build new skills and, where it makes sense, find new opportunities across Microsoft. There is no one-size-fits-all approach for every team or every employee."

Reaffirming her commitment to transparency throughout the rollout of the voluntary buyout process, Coleman concluded: "My promise is to continue to provide clarity, listen and learn and keep improving. Thank you for everything you continue to do for our customers, Microsoft and for one another."

Context of Recent Restructuring

Earlier in July, Microsoft announced the elimination of approximately 4,800 roles, representing about 2.1% of its global workforce, as part of a strategic realignment to focus investments on high-priority sectors in a fast-evolving technological landscape. The cuts, which took place in July as part of the company's annual realignment, primarily targeted Microsoft's Commercial and Xbox organisations. Within the commercial business, the restructuring was built upon initiatives to embed engineering experts closer to enterprise customers to accelerate technology deployments. Meanwhile, the Xbox division underwent a major structural overhaul to position the gaming business for long-term operational success.

To mitigate the impact of downsizing, Microsoft highlighted alternative transition strategies, noting that over the past year, the company successfully redeployed more than 4,000 employees into new roles. Additionally, management transitioned four gaming studios to new operating structures to preserve intellectual property and ongoing projects, while over 30% of eligible employees participated in a prior voluntary retirement program. For employees directly affected by the workforce reduction, Microsoft pledged financial support, career resources, and dedicated assistance to help navigate their transition to new opportunities.

This comes after US Vice President JD Vance announced that Microsoft and seven other companies would be barred from seeking green cards for skilled foreign workers amid an investigation into alleged visa fraud. Microsoft had earlier defended its hiring practices in a statement issued on October 8, saying the vast majority of its US employees were Americans. The company said that of approximately 6,000 H-1B applications submitted in the previous fiscal year, 80 per cent were intended to extend or change the status of existing employees. The controversy coincided with Trump's presentation of the National Medal of Technology and Innovation to Microsoft Chief Executive Officer Satya Nadella, an Indian-origin executive who previously held an H-1B visa. While criticising the immigration crackdown, Smith praised the administration's efforts to address AI safety, including export controls imposed on Anthropic's AI models. (ANI)

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

Sonowal Invites South Korean Firms to Invest in India Maritime Sector

Asianet News Central — Mon, 26 Oct 2026 21:31:13 +0530

India Extends Investment Invitation to South Korean Maritime Sector

Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal has invited South Korean marine equipment manufacturers and shipbuilders to invest in India's maritime sector, highlighting an estimated demand pipeline of over 400 vessels worth approximately USD 23 billion from government entities over the next 10 years, according to an official release on Monday.

During his visit to Busan, South Korea, Sonowal met representatives of the Korea Marine Equipment Association (KOMEA) and highlighted opportunities for Korean companies in shipbuilding, equipment manufacturing, technology transfer and joint ventures.

Government Initiatives and Shipbuilding Growth

The Ministry of Ports, Shipping and Waterways said it has aggregated demand from government entities to provide Indian shipyards with visibility of orders for more than 400 vessels worth approximately USD 23 billion over the next decade. Sonowal highlighted that India approved a shipbuilding package worth approximately USD 7.8 billion in September 2025. Following the scheme's approval, shipbuilding output rose 40 per cent year-on-year in 2025 and grew by more than 80 per cent in 2026. The pipeline of vessels receiving direct government assistance now covers more than 120 ships worth over USD 1.27 billion, with export orders accounting for more than 80 per cent of the value.

Opportunities for Korean Manufacturers

"We are already building for the world," Sonowal said. Highlighting opportunities for Korean manufacturers, he said, "Every ship built in India needs engines, propulsion, deck machinery, and electrical and navigation systems." He noted that much of this high-value equipment is currently imported, presenting opportunities for Korean suppliers to establish manufacturing operations in India.

KOMEA, which represents 304 equipment manufacturers, design firms, shipbuilders and repairers, including HD Hyundai, Hanwha Ocean and Samsung Heavy Industries, will open its first India office in Mumbai on October 30. KOMEA Chairman Ho-il Kang said its members have begun preparations to enter the Indian market within the next two years. Representatives from SB Sunbo, Daeyang, KASEMEC and JO Engineering also discussed possible investments in India's maritime sector.

Global Maritime Standards and Cooperation

Separately, addressing a high-level ministerial roundtable on World Maritime Day in Busan, Sonowal called for universal international shipping standards with implementation frameworks that recognise differences in national capabilities, technology and access to finance. "The objective should therefore be common standards and outcomes, supported by cooperation that enables every Member State to implement them effectively," he said.

The roundtable included International Maritime Organization Secretary-General Arsenio Dominguez and ministers from South Korea, Norway and Cyprus. Sonowal described IMO conventions as an "operational lighthouse" amid geopolitical instability, piracy and disruptions in the Red Sea, and advocated cooperation through joint working groups, training and technical assistance.

Highlighting India's maritime reforms, he said five maritime laws enacted in 2025 came into effect in March 2026, while India's Maritime Single Window now covers 69 ports and terminals. He added that the Alang-Sosiya ship recycling yard has 115 facilities compliant with the Hong Kong Convention under the IMO framework.

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

India Well Positioned for 24-Hour Low-Cost Renewable Power Production

Asianet News Central — Mon, 26 Oct 2026 21:11:13 +0530

India's Potential as a Global Green Energy Hub

India is uniquely positioned to generate low-cost renewable power round the clock, supported by its abundant solar energy resources, competitive costs and growing energy storage capabilities, according to Occo Roelofsen, CEO of Netherlands-based clean energy company Power2X. Speaking to ANI during Union Commerce and Industry Minister Piyush Goyal's visit to the Netherlands, Roelofsen said India's renewable energy potential and industrial capabilities could help the country emerge as a major supplier of green fuels to international markets.

"We see that the Indian market has an abundance of solar energy at very competitive cost. And also we see that in India, the industry is in a very capable position to provide battery storage, pump storage, and therefore India is one of those unique countries where it's possible to create 24-hour low-cost renewable power," he told ANI.

Strategic Export Opportunities and Green Fuels

Developing Sustainable Fuel Chains

He said India's ability to combine renewable energy generation with storage could also open up new export opportunities. "We see therefore that the Indian industry can build out this setup relatively quickly. We also at the same time believe it opens a window for export," Roelofsen said. He explained that renewable electricity could be converted into green ammonia or methanol for exports, allowing countries such as the Netherlands to use these fuels in their domestic industries.

Roelofsen also revealed that Power2X was in discussions to import green methanol from India for its facilities in Rotterdam. "We are in close conversations to agree on imports of green methanol here to our facilities in Rotterdam," he said. He added that Indian green methanol could be used to produce sustainable aviation fuel for the European market.

Bilateral Cooperation and Future Investments

Referring to discussions with the minister, Roelofsen said the meeting also covered cooperation on a green corridor between India and the Netherlands, along with regulatory alignment and import-export insurance arrangements. On potential investments in India, he clarified that the company's approach would primarily involve signing fuel purchase agreements, which could support investments in new renewable energy and green methanol production facilities in India.

"For us the investment is basically through signing contracts to buy the fuel, so that this would basically support local investments into new facilities, new solar, new methanol facilities," he said. The remarks come as India seeks to expand its green hydrogen and green fuel industry under the National Green Hydrogen Mission, with an emphasis on building domestic production capacity and developing export markets. Roelofsen said India's cost advantages and industrial experience made its green hydrogen and green methanol industries important for the success of Power2X's European operations.

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

India and Netherlands Eye Stronger Trade and Investment Partnership

Asianet News Central — Mon, 26 Oct 2026 21:11:13 +0530

Strengthening India-Netherlands Economic Ties

India and the Netherlands have discussed expanding Dutch investments in India's manufacturing, infrastructure, research and development (R&D) and digital technology sectors, as both countries look to strengthen economic ties and build resilient supply chains. Union Commerce and Industry Minister Piyush Goyal held discussions with the Netherlands' Minister for Foreign Trade and Development Cooperation, Sjoerd Sjoerdsma, on Monday, focusing on new opportunities for trade and investment.

Sharing details of the meeting on social media platform X, Goyal said, "Discussed advancing the India-Netherlands economic partnership through expanded trade, resilient supply chains and greater Dutch investment in India's manufacturing, R&D, infrastructure, renewable energy, logistics and digital technologies."

Focus on Innovation and Technology

The two ministers also explored cooperation in semiconductors, green hydrogen and clean energy, sectors that are important for India's efforts to expand domestic manufacturing and reduce dependence on imports of advanced technologies. Goyal said they "explored opportunities for collaboration in semiconductors, green hydrogen and clean energy, while leveraging the India-EU FTA to unlock new avenues for trade and investment."

Leveraging the India-EU Trade Agreement

In a separate meeting with members of the Dutch Parliament, Goyal discussed opportunities arising from the India-European Union Free Trade Agreement (FTA), particularly in expanding market access and strengthening supply chains. He said the discussions covered the agreement's potential to "boost market access, diversify supply chains, and unlock fresh investment opportunities."

Goyal also emphasised cooperation in advanced manufacturing, renewable energy and innovation to build a stronger long-term economic partnership. The discussions come as India and the European Union work towards operationalising their trade agreement, which is expected to provide businesses with greater access to each other's markets.

Future Collaboration Prospects

For India, deeper cooperation with the Netherlands could support investment in technology-intensive manufacturing, clean energy and logistics, while creating opportunities for Indian businesses to expand their presence in European markets. Goyal also expressed his intention to continue discussions with his Dutch counterpart, saying, "Look forward to welcoming him to India soon to take these discussions forward." (ANI)

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

AI Firm Anthropic Files for IPO Following Sharp Revenue Growth Surge

Asianet News Central — Mon, 26 Oct 2026 21:01:16 +0530

Anthropic Files for IPO

Artificial intelligence company Anthropic has filed a registration statement for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC), highlighting sharp revenue growth, rising enterprise adoption and significant financial and regulatory risks.

According to the filing, Anthropic reported revenue of USD 11.6 billion in the quarter ended June 30, 2026, compared with USD 787 million in the corresponding period last year. Its revenue for the six months ended June 30, 2026, stood at USD 16.286 billion, marking a growth of nearly 1,300 per cent from USD 1.163 billion a year earlier. The company also reported an operating income of USD 1 billion and an operating margin of 8 per cent during the June quarter, compared with an operating loss of USD 1.2 billion and a negative operating margin of 152 per cent in the corresponding quarter last year.

Growth Drivers and Market Strategy

Anthropic attributed its growth to rising demand for its Claude family of AI models, increased enterprise adoption and the launch of products designed to perform complex tasks, including Claude Code and Claude Cowork.

The filing highlights the growing contribution of existing enterprise customers to the company's revenue. As of September 30, 2026, Anthropic had more than 11,900 customers generating at least USD 100,000 in trailing 12-month revenue. This included over 1,900 customers generating at least USD 1 million and around 250 generating at least USD 10 million. The company reported a net revenue retention rate of approximately 900 per cent as of September 30, 2026, indicating a substantial increase in spending by existing customers. In the filing, Anthropic stated: "Our Net Revenue Retention of approximately 900% as of September 30, 2026."

The company said it aims to move beyond conversational AI towards systems capable of independently carrying out complex, multi-step professional tasks. Its growth strategy centres on expanding enterprise adoption, improving its AI models through customer feedback and reinvesting revenue in research, talent and computing infrastructure. Anthropic is targeting a wider range of industries, including software development, financial services, healthcare, life sciences, scientific research and manufacturing.

Expansion Plans and Financial Outlook

The company estimates that knowledge workers accounted for more than USD 40 trillion in global economic value in 2025. It also cited an International Data Corporation estimate that investments in AI solutions and services could generate a cumulative global economic impact of USD 22.5 trillion by 2031.

To support its expansion, Anthropic plans to increase computing capacity, strengthen partnerships with Amazon Web Services, Google Cloud and Microsoft Azure, and expand its enterprise sales operations. It also intends to explore new applications of Claude in sectors such as robotics and healthcare.

The filing said Anthropic had raised a total of USD 141.1 billion in capital as of June 30, 2026. Its cash and cash equivalents stood at USD 112.4 billion, while short-term investments amounted to USD 19.3 billion. However, the company acknowledged that developing and operating advanced AI systems requires substantial investment in computing infrastructure, data centres and specialised chips. Despite its revenue growth, Anthropic reported an accumulated deficit of USD 132.9 billion as of June 30, 2026. The company clarified that USD 113.2 billion of this amount was attributable to changes in the fair value of convertible notes and derivative liabilities, rather than solely to operating losses. It also disclosed negative cash flows from operating and investing activities in 2023, 2024 and 2025, reflecting investments in business expansion and computing infrastructure.

Risks and Regulatory Challenges

The filing cautioned that the company's current pace of growth may not continue as the AI market matures. It said customers could reduce their spending, switch to lower-cost models or adopt open-source alternatives if the additional capabilities of advanced AI systems do not justify their higher costs. Anthropic further acknowledged the possibility of a decline in its revenue growth rate over time, stating: "we expect our Run-Rate Revenue growth rate to decline over time". The company also faces competition from established technology firms and emerging AI developers. Its expansion could be affected by constraints in computing capacity, electricity supply, infrastructure availability and access to financing.

Legal and regulatory challenges also remain a concern. Anthropic disclosed a USD 1.5 billion settlement in the Bartz copyright litigation, which involved allegations concerning the use of copyrighted material to train AI models. The company has disputed allegations of wrongdoing. The filing also identified risks related to AI misuse, cybersecurity threats, data privacy, safety failures and potential government restrictions. It noted that safety-related decisions could delay product launches or create conflicts with commercial objectives.

IPO Details

The preliminary prospectus named Goldman Sachs, Morgan Stanley, J.P. Morgan and Citigroup, among other investment banks, as proposed underwriters for the offering. Anthropic has applied to list its Class A common stock on the Nasdaq Global Select Market under the proposed ticker symbol ANT. However, the preliminary filing does not specify the number of shares to be offered or the proposed IPO price range. The size and valuation of the offering therefore remain undetermined at this stage.

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

MoSPI to Track Challenges Faced by Women Entrepreneurs in ASUSE Survey

Asianet News Central — Mon, 26 Oct 2026 21:01:11 +0530

Government Initiatives for Women Entrepreneurs

New Delhi [India], October 26 (ANI): The government has proposed collecting data on challenges faced by women entrepreneurs and investment trends among informal businesses under the Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2027–28. According to a release by the Ministry of Statistics and Programme Implementation (MoSPI) on Monday, the survey will, for the first time, examine gender-specific difficulties faced by women in running and managing their businesses.

The Ministry said, "For the first time, questions will be introduced to capture gender-specific constraints faced by female entrepreneurs in operating and managing their establishments." The move is aimed at identifying barriers affecting women-led enterprises and providing data to support policies encouraging women's participation in economic activities.

Tracking Business Investments and Sectoral Data

The survey will also introduce a question to track investment in fixed assets over a longer period to better understand investment patterns among unincorporated businesses. The Ministry said the change is "intended to provide a broader perspective on the investment trajectory of establishments." The proposed changes are significant as the unincorporated non-agricultural sector is an important source of employment, livelihoods and economic activity in India.

Survey Methodology and Operational Shifts

The government has also proposed shifting the survey period from the calendar year (January–December) to the financial year (April–March) from ASUSE 2027–28 to improve the use of survey data in national accounts. Additional questions will cover electricity sources used by establishments and identify businesses engaged in handloom, power-loom and handicraft activities. The Ministry has invited feedback on the proposed questionnaire until November 15, 2026. (ANI)

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

Anthropic Moves Closer to Public Market Debut With Nasdaq IPO Filing

Asianet News Central — Mon, 26 Oct 2026 19:51:19 +0530

Anthropic Initiates Path to Nasdaq Listing

Artificial intelligence company Anthropic, the developer of the Claude AI chatbot, has filed a registration statement with the US Securities and Exchange Commission (SEC) for its proposed initial public offering (IPO), marking a major step towards its stock market debut. According to the company's announcement on Monday, Anthropic intends to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol "ANT".

The filing did not disclose the proposed share price, the number of shares to be offered or the company's overall valuation. These details will be determined following a roadshow involving Anthropic, prospective investors and its bankers. The filing follows Anthropic's confidential submission of a draft registration statement to the SEC in June 2026, as the company moves towards becoming publicly traded.

Investor Interest and Financial Oversight

The proposed listing comes amid growing investor interest in artificial intelligence companies and the substantial capital requirements associated with developing advanced AI models and computing infrastructure. Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC have been named as contacts for obtaining copies of the preliminary prospectus when available, according to the company's official announcement.

Anthropic stated that the registration statement relating to the proposed offering has been filed with the SEC but has not yet become effective. Consequently, the securities cannot be sold, and offers to purchase them cannot be accepted until the registration statement becomes effective.

Financial Sustainability and Revenue Growth

The filing also comes as major AI developers face increasing scrutiny over the financial sustainability of their businesses, with significant investments required for computing infrastructure, model development and expansion. The filing highlighted a sharp increase in the company's revenue, stating that it “grew 1,368% year over year for the three months ended June 30, 2026.”

Anthropic generated USD 16.29 billion in revenue during the first half of 2026 but recorded a net loss of USD 80.75 billion during the same period, highlighting the substantial costs associated with developing advanced artificial intelligence systems. The proposed IPO could become one of the largest public offerings in history, although the company has not officially disclosed its fundraising target, proposed valuation or listing date. Anthropic's stock market debut would provide public market investors an opportunity to gain direct exposure to one of the leading developers of advanced generative AI models. (ANI)

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India Overseas Direct Investment Commitments Dip Sharply in September

Asianet News Central — Mon, 26 Oct 2026 19:21:15 +0530

India Sees Decline in Overseas Direct Investment Commitments

India's overseas direct investment commitments declined by nearly 37 per cent to USD 4.34 billion in September 2026, compared with USD 6.87 billion in August, mainly due to a sharp fall in guarantees issued by Indian companies, according to data released by the Reserve Bank of India (RBI) on Monday.

According to the RBI's Summary of Outward Foreign Direct Investment (OFDI) based on Reporting Date – September 2026, guarantees issued by Indian companies for overseas investments fell sharply to USD 528.21 million in September from USD 2.29 billion in August, a decline of nearly 77 per cent.

Breakdown of Investment Categories

Equity and Loan Commitments

Equity commitments also declined to USD 3.27 billion in September from USD 4.11 billion in the previous month, representing a fall of around 20 per cent. However, equity commitments were nearly 26 per cent higher than the USD 2.59 billion recorded in September last year, indicating stronger year-on-year equity investment commitments despite the monthly slowdown. Meanwhile, loan commitments increased to USD 549.16 million in September from USD 473.52 million in August, registering a rise of nearly 16 per cent. The decline in overall overseas investment commitments was therefore largely driven by lower guarantees, rather than a uniform fall across all investment categories.

Context on Financial Commitments and FDI Inflows

The RBI stated that "the data is provisional and subject to change based on online reporting by AD banks." Overseas financial commitments include equity investments, loans and guarantees provided by Indian entities to their foreign subsidiaries and joint ventures. These commitments do not necessarily represent actual cash outflows during the month. The latest figures come at a time when India's net foreign direct investment inflows have strengthened, supported partly by a moderation in outward investment. According to the RBI's October 2026 Bulletin, net FDI inflows increased to USD 13.8 billion during April-August FY27 from USD 9.6 billion in the corresponding period last year. The central bank noted that a slowdown in the pace of outward FDI along with sustained higher gross FDI inflows supported net FDI flows. (ANI)

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Tata Communications to Invest Rs 4,350 Cr in AI-Ready Fibre Infrastructure

Asianet News Central — Mon, 26 Oct 2026 16:11:09 +0530

Tata Communications Unveils AI Super Highway Project

New Delhi [India], October 26 (ANI): Tata Communications on Monday announced plans to invest Rs 4,350 crore (USD 400-450 million) to build around 10,000 kilometres of AI-ready fibre connectivity infrastructure across India to connect major data centre hubs and meet the growing demand for artificial intelligence (AI) and cloud services.

In a press release, the company said the proposed network, called India's AI Super Highway, will provide high-speed, low-latency connectivity between data centres, cloud platforms and enterprises. According to the company's regulatory filing, the investment is expected to add around 6 petabits per second (Pbps) of network capacity between FY2030 and FY2036. Tata Communications currently has a network capacity of 1.25 Pbps, with utilisation at around 70-80 per cent. The investment will be funded through operating cash flows.

Strategic Vision and Growth Opportunity

Ganesh Lakshminarayanan, Managing Director and CEO of Tata Communications, said the growing demand for data centre connectivity presents a significant business opportunity. "We are excited about the opportunity in the India data centre-to-data centre connectivity, which we believe could evolve into a market exceeding USD 1 billion over the medium term," he said. "With our planned investments, we are building on our existing strengths to create one of the most comprehensive data centre connectivity platforms in the market, positioning us to capture this significant growth opportunity," he added.

Project Phasing and Infrastructure Goals

The project will be developed in three phases, starting with the Mumbai-Pune-Hyderabad-Chennai corridor, which the company identified as a key route for AI and large-scale data centre growth. In subsequent phases, the network will be extended to emerging data centre hubs, including Visakhapatnam, Bhubaneswar, Jamnagar and GIFT City. Highlighting the importance of network infrastructure for AI, Rupesh Chokshi, Chief Product and Technology Officer, Executive Vice President and Global Business Head – Network Services at Tata Communications, said, "The AI economy needs more than compute. It needs a network built for speed, scale and resilience."

Expanding India's AI and Data Centre Ecosystem

The announcement comes amid a series of major investments in India's data centre and AI infrastructure. Microsoft, which has committed USD 17.5 billion towards India's cloud and AI infrastructure, skilling and operations, announced in September that its new data centre region in Hyderabad had gone live. Google has committed USD 15 billion to develop an AI hub in Visakhapatnam, while TCS subsidiary HyperVault is developing a data centre campus of up to 1 GW in Hyderabad, with an expected investment of up to Rs 70,000 crore from the company and its partners. Amazon has also announced an additional USD 13 billion investment in AI and cloud infrastructure, including expansion of its data centre capacity in Mumbai and Hyderabad.

The expansion of data centre infrastructure is increasing the need for high-capacity networks that can transfer large volumes of data reliably between computing facilities and connect Indian data centres with global markets. Government measures are also supporting the sector's growth. The Union Budget 2026-27 announced a tax holiday until 2047 for eligible foreign cloud service providers using Indian data centre infrastructure for global operations. According to the Ministry of Electronics and Information Technology, India's installed data centre capacity increased from 375 MW in 2020 to around 1,575 MW in 2026. (ANI)

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REC Limited Reports Strong Growth in Loan Book and Renewable Assets

Asianet News Central — Mon, 26 Oct 2026 18:11:11 +0530

Financial Performance and Loan Book Growth

REC Limited, a leading power sector financier, witnessed its assets under management rise by Rs 26,537 crore during the second quarter of the financial year 2026-27, according to financial results approved by its board of directors on Monday. The sequential expansion brought the company’s total loan book to Rs 6.17 lakh crore as of September 30, 2026. The growth accompanied an increase in its renewable energy portfolio, which expanded by Rs 8,064 crore during the quarter to reach Rs 86,660 crore, reflecting a 27 per cent year-on-year increase.

Detailing the sectoral dynamics and operational assessment during the period, the company stated that, "India's peak power demand scaled new peak in FY27, demonstrating the robustness of the power sector and its ability to meet new emerging challenges in a cohesive and positive manner. The strong power offtake coupled with REC's relentless focus on technology-driven credit assessment & customer-centric solutions, resulted in strong AUM growth. The Loan Book of REC increased by 5% sequentially during the quarter reaching Rs 6.17 lakh crore as of September 30, 2026, reiterating the fact that REC remains the largest standalone financier in the power sector."

Operational Highlights and Profitability

The non-banking financial company disbursed Rs 53,541 crore during the second quarter, bringing aggregate disbursements for the first half of the financial year to Rs 79,207 crore. Profit after tax (PAT) for the six-month period ended September 30, 2026, stood at Rs 7,541 crore, generating an annualised earnings per share of Rs 57.27.

"With Ministry of Power's continued & targeted efforts, the financial health of power utilities continued to improve, reflecting in lower sectoral credit risk premiums. REC has been adequately passing on these benefits to the sector in line with market and still maintained a healthy NIM of 3.22% during H1 FY27," the company said.

Asset Quality and Dividends

The company reported that its net worth rose 14 per cent year-on-year to Rs 94,325 crore as of September 30. Following the financial performance, the board declared a second interim dividend of Rs 23.50 per equity share of face value Rs 10 each for the financial year 2026-27.

"REC continues to maintain pristine asset quality and resolved a Stage III asset of Rs 4.16 crore during the quarter, resulting in net NPA reaching 0.11% as of September 30, 2026. The Stage-II loan assets also reduced by 80% to Rs 3,235 crore as on 30.09.2026 as compared to last year, driven by focused recovery efforts and effective monitoring," it noted.

Strategic Infrastructure and Innovation

Non-power infrastructure and logistics financing reached Rs 61,637 crore, representing over 10 per cent of total loan assets. The Capital to Risk-Weighted Assets Ratio settled at 24.04 per cent, alongside a Common Equity Tier 1 ratio of 20.91 per cent. REC also issued a Rs 500 crore pilot tokenised corporate bond under the regulatory sandbox framework of the Securities and Exchange Board of India, recording an aggregate book of Rs 796 crore. The company's Board of Directors also declared a second interim dividend of Rs 3.50 per equity share with a face value of Rs 10 each for FY 2026-27. REC Limited is a Maharatna Central Public Sector Enterprise under the Ministry of Power, Government of India.

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MoSPI Reports 1853 Infrastructure Projects Valued at Rs 37 Lakh Cr

Asianet News Central — Mon, 26 Oct 2026 17:41:22 +0530

Status of Central Sector Infrastructure Projects

A total of 1,853 central sector infrastructure projects, with a combined revised cost of Rs 37.56 lakh crore, were under monitoring as of September 2026, according to the latest monthly Flash Report released by the Ministry of Statistics and Programme Implementation (MoSPI) on Monday. The number of projects under monitoring increased from 1,731 in August to 1,853 in September, while their combined revised cost rose from Rs 33.60 lakh crore to Rs 37.56 lakh crore.

The ministry, in its September 2026 Flash Report on Central Sector Infrastructure Projects costing Rs 150 crore and above, stated that it was tracking "1,853 Infrastructure Projects worth ₹37.56 lakh crore as of September 2026." The report showed that cumulative expenditure on these ongoing projects stood at Rs 17.71 lakh crore, accounting for approximately 47 per cent of their revised cost. The figures indicate an increase of 122 projects and Rs 3.96 lakh crore in their combined revised cost compared with August. However, the increase in aggregate project value does not necessarily represent fresh investment or additional project costs, as the number and composition of projects under monitoring can change.

Sectoral Distribution and Implementation Progress

According to MoSPI, the transport and logistics and energy sectors together accounted for more than 82 per cent of the projects being monitored, highlighting their dominant share in the central infrastructure pipeline. The Ministry of Road Transport and Highways accounted for the largest number of projects, followed by the Ministry of Railways. Other major ministries included Coal, Petroleum and Natural Gas, and Power.

Monitoring and Reporting Framework

The report also highlighted progress in project implementation, with several projects reaching advanced stages of physical and financial completion. Among the projects commissioned during September were infrastructure works in the power, roads and railway sectors. The monthly report is prepared using information submitted by the concerned ministries and departments through MoSPI's infrastructure project monitoring system.

The latest figures come against the backdrop of the government's continued focus on infrastructure development, particularly transport connectivity and energy capacity. In August, the ministry had reported cumulative expenditure of Rs 16.33 lakh crore, representing 48.59 per cent of the revised cost of projects being monitored. The September report tracks central sector infrastructure projects costing Rs 150 crore and above across 17 ministries and departments.

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India and Netherlands Discuss Strategic Cooperation in Technologies

Asianet News Central — Mon, 26 Oct 2026 19:21:14 +0530

Strengthening India-Netherlands Bilateral Cooperation

India and the Netherlands have discussed expanding cooperation in semiconductors, critical minerals, green hydrogen and advanced manufacturing, as the two countries look to strengthen technology partnerships and secure supply chains. Union Commerce and Industry Minister Piyush Goyal held discussions with the Netherlands' Minister of Economic Affairs and Climate Policy, Heleen Herbert, on Monday, focusing on new opportunities for trade and industrial cooperation.

Sharing details of the meeting on social media platform X, Goyal said, "Had a productive meeting with Ms. Heleen Herbert, Minister of Economic Affairs and Climate Policy of the Netherlands." He added that the two sides "explored deeper cooperation across semiconductors, green hydrogen, clean energy transition, critical minerals, and advanced manufacturing."

Strategic Focus on Technology and Trade

The discussions come as India seeks to expand domestic semiconductor manufacturing, strengthen access to critical minerals and attract investment in clean energy technologies. Cooperation with the Netherlands is particularly significant given the country's expertise in semiconductor equipment and advanced manufacturing, areas important for India's efforts to build domestic production capabilities.

The two ministers also discussed opportunities arising from the India-European Union Free Trade Agreement (FTA), particularly for expanding trade and strengthening supply chains. Goyal said they "discussed leveraging the India-EU FTA to expand trade flows, build resilient supply chains, and unlock new avenues of growth for both our nations." India and the European Union concluded negotiations for the FTA in January 2026. The European Commission submitted proposals for its signature and conclusion to the EU Council in September, with the agreement still awaiting the necessary approvals before entering into force.

Expanding Industrial Partnerships

Goyal is visiting the Netherlands from October 24 to 27 as part of efforts to strengthen bilateral trade, investment and industrial cooperation. His visit includes meetings with Dutch government officials and business leaders, with discussions focused on technology, manufacturing, clean energy and trade connectivity. The latest meeting reflects efforts by both countries to translate their expanding economic relationship into closer industrial partnerships, particularly in strategic technologies and clean energy.

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New Rules Pave Way for E100 Ethanol Fuel in India Flex Fuel Vehicles

Asianet News Central — Mon, 26 Oct 2026 17:41:14 +0530

Government Notification on E100 Fuel

New Delhi [India], October 26 (ANI): The government has allowed the use of E100 ethanol fuel in vehicles specifically designed to run on flexible fuel, under amendments to the Central Motor Vehicles Rules, 1989, notified by the Ministry of Road Transport and Highways.

According to the Gazette notification, the government has included E100 alongside E85 in the emission standards prescribed for flex-fuel vehicles, paving the way for vehicles designed to operate on nearly pure ethanol. The notification, issued under G.S.R. 911(E), states, "E85 or E100 shall be used in the vehicles designed by the original equipment manufacturers as Flex-fuel vehicles." E100 refers to fuel containing 100 per cent ethanol, while E85 contains 85 per cent ethanol. Flex-fuel vehicles are designed to operate on different blends of petrol and ethanol.

Regulatory Changes and Standards

The amendment is significant as India seeks to expand the use of ethanol in transport and reduce its dependence on conventional petrol. However, the provision applies specifically to vehicles designed by manufacturers for such fuels and does not permit their use in all petrol-powered vehicles.

Under the amended rules, references to "E85" in multiple provisions of Rule 115, which deals with vehicle emission standards, have been replaced with "E85 or E100". The government has also revised the gross vehicle weight threshold specified in the relevant emission standards from 3,000 kg to 3,500 kg. The notification states that "the figure and words '3500 kg' shall be substituted" in place of the earlier 3,000 kg limit.

Implementation of New Rules

The amendments follow draft rules issued on April 27, 2026, inviting objections and suggestions from stakeholders. The ministry said that "the objections and suggestions received from the public in respect of the said draft rules have been considered by the Central Government."

According to the notification, the amended rules will come into force from the date of their publication in the Official Gazette. The changes provide a regulatory framework for E100-compatible flex-fuel vehicles, although the notification does not announce any timeline for the commercial availability of E100 fuel across the country. (ANI)

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EasyJet to Roll Out High Speed Starlink Internet Across Fleet by 2028

Asianet News Central — Mon, 26 Oct 2026 18:21:10 +0530

EasyJet to Introduce Inflight Connectivity via Starlink

One of Europe’s largest airlines, easyJet, will introduce inflight internet connectivity across its aircraft fleet for the first time by partnering with satellite operator Starlink, with installation set to commence in the first half of 2027. According to easyJet, the airline expects the connectivity rollout to conclude across its Airbus A320, A320neo, and A321neo fleet by early 2028.

The initiative aims to enhance the travel experience for the carrier's 100 million annual passengers by enabling web browsing, streaming, and online gaming on personal devices while in flight, alongside access to flight updates, local destination guides, and seat-based menu ordering.

Executive Insights on Digital Integration

easyJet Chief Executive Officer Kenton Jarvis called the technology upgrade an effort to align passenger expectations with modern travel standards. "In an increasingly digital world, staying connected matters more than ever to many of our customers, whether that’s holidaymakers looking to unwind with inflight entertainment, or our business customers keeping up to speed with what’s happening on the ground," Jarvis said.

He noted that the commercial partnership supports the airline's broader operational objectives across both consumer segments. "Innovation is in easyJet’s DNA and partnering with SpaceX to bring Starlink’s high-speed internet connectivity onboard for the first time will not only further enhance the experience we provide millions of customers, but means we are offering more of the options both business and leisure travellers want when they choose who they fly with. Giving customers the opportunity to get online in the air will mean even greater choice and convenience when you fly with easyJet. Ultimately, it’s yet another way we’re making travel easy," Jarvis said.

SpaceX Collaboration Details

SpaceX President and Chief Operating Officer Gwynne Shotwell highlighted the service scope of the joint venture. "We’re proud to bring Starlink onboard easyJet and transform the way their customers stay connected throughout their travels," Shotwell said. "Fast, reliable connectivity from take-off to landing means people can work, stream, or stay in touch without interruption.”

With this deployment, easyJet joins a roster of international carriers that have adopted Starlink connectivity, including American Airlines, Southwest Airlines, United Airlines, Alaska Airlines, and British Airways.

Context Regarding Starlink Service Policies

Earlier, SpaceX CEO Elon Musk on Saturday (local time) said that the Ukrainian military violated Starlink's terms of service and was using it for offensive drone strikes to "kill people". In a post on X, Musk said that this "loophole" was closed last week. He also said Starlink was also crucial to preventing Russia from overrunning Ukraine in the early days of the war.

"Using Starlink, a civilian commercial service, for offensive drone strikes to kill people has never been allowed, nor should it. Starshield, a different system, is controlled by the US government. What they decide to do is up to them. Ukraine's military violated Starlink's terms of service and used it for offensive drone strikes to kill people. That loophole was closed last week," he wrote on X. (ANI)

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Harmonising Global Metrology Standards to Boost International Commerce

Asianet News Central — Mon, 26 Oct 2026 19:51:18 +0530

Harmonising Global Metrology for Trade

New Delhi [India], October 26 (ANI): Harmonisation of legal metrology frameworks and global accountability in measurement standards remain essential to removing non-tariff barriers and supporting international commerce, said Secretary of the Department of Consumer Affairs Nidhi Khare. While speaking to the media on the sidelines of the 61st International Committee of Legal Metrology (CIML) meeting, Khare stated that, "With evolution of technology, there are new instruments which are coming for our household uses or even in commercial practices. So it is very important that they are harmonized and they enjoy global accountability.”

Khare added that continuous shifts in consumer goods and industrial equipment require standardisation bodies to keep pace with new instrumentation entering the marketplace. “Therefore it becomes very important for the trade and commerce of the country, for the growing economy of our country to learn from the global perspective and reasonably and adequately update the measures," she added. "Legal metrology is something which helps it is basically the cornerstone or say the foundation of any robust trade and commerce of any country," Khare said. "If the measures are accurate then the trade is also seamless and it does not provide a trade barrier."

India Hosts Global Standards Summit

India is hosting the annual gathering of the international body for the first time, bringing together domestic authorities, member state representatives, and international technical institutions to address measurement standards across expanding commercial sectors.

Addressing Future Technological Shifts

Addressing questions regarding gaps between domestic practices and international standards, CIML President Bobjoseph Mathew stated that the organization is focusing on institutional readiness to handle emerging technological shifts. "What I want to reach with this organization is to bring it to the future. Together with my team, we want to make sure that OIML is future-ready," Mathew said. "Which means there are specific topics that we need to address, and where we, as OIML, have to develop recommendations or guidelines or guides that the community can deal with," he added.

Mathew observed that technological integration into measuring tools presents regulatory deficits that international bodies must work to resolve. "These topics are all related mainly to modern technologies such as digitalization in generic terms, but also AI, special thing," Mathew said. "So, for all types of measurements, you have a lot of AI involved, software involved, and these type of approaches are not regulated yet." (ANI)

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Sensex Climbs Over 480 Points as Indian Equity Markets End Higher

Asianet News Central — Mon, 26 Oct 2026 16:01:10 +0530

Indian Equity Markets Close Higher

Mumbai (Maharashtra) [India], October 26 (ANI): The Indian equity markets ended higher on Monday with Sensex surging over 480 points and Nifty settling above 22,750 level. This rally was supported by selective buying in metals, pharmaceuticals and healthcare, rather than a decisive improvement in overall sentiment. Sensex ended at 73,606.75, up 482.92 points or 0.66 per cent against the previous close of 73,123.83. Nifty settled at 22,753.20, up 153.20 points or 0.68 per cent against the previous close of 22,600. All broad market indices settled in the green.

Sectoral Performance and Market Movers

Amongst sectors, most indices ended in the green with healthcare, metal and pharma emerging as top gainers rising over a per cent each. Meanwhile, FMCG, media, consumer durables and chemicals ended in the red. On BSE, Eternal, Adani Ports, Kotak Bank, Trent, ITC, Indi Go, Bharti Airtel, Tata Steel, Reliance, BEL, M&M, NTPC, Axis Bank, LT, ICICI Bank, Tech Mahindra among others were the top gainers. Bajaj Finance, HDFC Bank, Sun Pharma, HCL Tech, Power Grid, Maruti among others were the top drags.

On NSE, Dr Reddy, JSW Steel, BSE, Max Health, Adani Ports, Eternal, Kotak Bank, Hindalco, Coal India, Grasim, Reliance, Bharti Airtel, Indi Go, Trent, Tata Steel, Infosys, ICICI Bank, Tech Mahindra, NTPC among others were the top gainers. Shriram Finance, Bajaj Fiance, HDFC Life, Sun Pharma, HCL Tech, TMPV, M&M, Power Grid among others were the top losers. At the time of reporting, Brent crude was trading at around USD 114.65 per barrel while crude oil was trading at around USD 101.07 per barrel.

Expert Perspectives on Market Outlook

Risk Factors and Future Trends

Vikram Kasat, Chief Business Officer, Advisory and Dealing at PL Capital, said, “Elevated crude oil prices, with Brent around USD 115 per barrel, and the rupee weakening to Rs 95.19 against the US dollar continue to pose risks to inflation, corporate margins and foreign investor flows.” “While gold and silver remain important indicators of global risk appetite, investors must also monitor currency movements and energy-price volatility,” Kasat said, adding, “Going forward, the sustainability of the rebound will depend on quarterly earnings, developments in West Asia and the US Federal Reserve’s policy outlook. Investors should remain selective, prioritising companies with strong earnings visibility, resilient balance sheets and reasonable valuations.”

Technical Analysis and Support Levels

Market analyst Vipin Dixena said, “Today’s rebound is encouraging, but it is too early to conclude that the market has established a durable bottom.” “From a fundamental perspective, the correction is gradually creating opportunities, but investors should distinguish between stocks that have become cheaper and businesses that are genuinely undervalued. The ongoing quarterly earnings season will be crucial in determining whether current stock prices adequately reflect these risks,” he said. “Nifty's ability to sustain above 22,600–22,700 will be important for confirming further recovery. Immediate resistance lies around 22,700–22,800, while 22,400–22,300 is an important support zone to monitor. A sustained move above resistance could improve short-term sentiment, whereas a breakdown below support could bring renewed selling pressure. These levels should be treated as reference zones rather than guaranteed turning points,” as per Dixena. (ANI)

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Volkswagen Partners With NXP Semiconductors for Future EV Technology

Asianet News Central — Mon, 26 Oct 2026 17:41:18 +0530

Volkswagen Announces Strategic Partnership with NXP Semiconductors

Volkswagen Group has announced partnership with NXP Semiconductors to source microcontrollers for its future software-defined vehicles, as the automaker seeks to standardise semiconductor technology across its brands and vehicle segments, according to a company statement. As per the release, the partnership is part of Volkswagen Group’s broader semiconductor strategy. NXP Semiconductors provides semiconductor solutions for the automotive, industrial, Internet of Things (IoT), mobile and communications infrastructure sectors.

“Volkswagen Group and NXP Semiconductors today announced ahead of the International Suppliers Fair (IZB) in Wolfsburg that they had agreed on a strategic partnership. NXP’s S32K5 family of microcontrollers (MCUs) is intended to serve as an important building block of Volkswagen Group’s future software-defined vehicle (SDV) architecture, supporting zonal control across all brands and vehicle segments. The first vehicle featuring the new architecture is planned for 2027,” the release said.

Advancing Vehicle Architecture and Zonal Control

As per the release, NXP's S32K5 microcontrollers (MCUs) are designed to combine functions previously handled by separate chips and electronic control units (ECUs) into zonal controllers, reducing hardware complexity. The chips will form a common component of the future zonal software-defined vehicle (SDV) architecture being developed by Rivian and Volkswagen Group Technologies (RV Tech), a joint venture between Volkswagen Group and Rivian. The architecture is expected to be used across vehicles from both companies while allowing them to offer brand-specific features, it said.

Streamlining Automotive Complexity

The release further noted that modern vehicles are increasingly equipped with digital features, requiring multiple electronic control units (ECUs) to manage different functions. However, using separate ECUs adds to development complexity, increases the number of components and makes it harder to scale technology across vehicle models, it said. Zonal architecture addresses these challenges by combining several vehicle functions into fewer ECUs using advanced microcontrollers.

“Next to high-performance processors that provide the central computing power and make complex decisions for AI-enabled functions such as automated driving and advanced infotainment, the S32K5 MCUs serve as the core processors of the vehicle's zonal controllers,” the company said. The microcontrollers connect sensors and other vehicle components, process data and manage systems including lighting, comfort, chassis and safety, supporting the vehicle's central computing platform, it added.

Future Outlook and Industry Perspectives

Commenting on the develpoment, Rafael Sotomayor, President and CEO at NXP Semiconductors, said, “Intelligent, software-defined vehicles must operate safely, securely and reliably. Together with Volkswagen Group and RV Tech, NXP is bringing scalable real-time compute, trusted edge intelligence and continuous software innovation together to create a scalable foundation for the next generation of intelligent vehicles.”

Werner Tietz, Member of the Extended Volkswagen Group Executive Committee, Group Research and Development, said, “Our future zonal architecture, developed by RV Tech and supported by strategic technology partners such as NXP, creates a scalable technology foundation for multiple Group brands and vehicle segments. By harmonizing key technologies across the Group, we reduce complexity, leverage scale and accelerate innovation while enabling advanced digital capabilities. This allows us to bring digital innovations to our customers faster and continuously enhance our vehicles throughout their lifecycle.”

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India-EU Free Trade Agreement Could Be Implemented by Spring 2027

Asianet News Central — Mon, 26 Oct 2026 19:21:11 +0530

Potential Implementation of India-EU Trade Deal

The India-European Union (FTA) could be implemented in spring 2027, Netherlands’ Minister for Foreign Trade and Development Cooperation Sjoerd Sjoerdsma has said, expressing hope that the agreement would be signed in December and operationalised as soon as possible. Sjoerdsma said the Netherlands and the European Union were ambitious about completing the remaining formalities for the agreement, which he described as unique and far-reaching.

“We hope that this will be signed in December, and we hope that implementation will follow as soon as possible, preferably the next day. But we all know it takes a little more than that,” he said. “I don’t have my crystal ball as to the exact date, but let’s hope that this gets implemented spring next year,” he added. The minister said the agreement had been concluded in almost record time, reflecting the ambition to deepen economic engagement between India and the European Union.

Strengthening India-Netherlands Relations

On his meeting with Union Commerce and Industry Minister Piyush Goyal, Sjoerdsma said he was pleased to meet his Indian counterpart again and had accepted Goyal’s invitation to visit India in January next year. Emphasising the importance of trust in strengthening economic ties, he said relations between India and the Netherlands were at an all-time high.

“We need to ensure that there is a huge amount of trust between us, because where there is trust, there will be economic relations. And if I look at the trust between the Netherlands and India, I think it’s an all-time high,” he said. Sjoerdsma said both countries stood to benefit from greater commercial engagement, with Dutch innovation complementing India’s talent and skills. He also expressed optimism about expanding bilateral trade and said he would like to see India-Netherlands trade double as soon as possible. The minister’s remarks come as India and the Netherlands seek to strengthen economic cooperation amid efforts to advance the India-EU trade agreement.

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TRAI Proposes Mandatory Government Licensing for Live TV Streaming Apps

Asianet News Central — Mon, 26 Oct 2026 18:11:10 +0530

TRAI Recommends New Regulatory Framework for Live TV Streaming

New Delhi [India], October 26 (ANI): The Telecom Regulatory Authority of India (TRAI) on Monday recommended mandatory government authorisation for internet-based live television streaming applications, while proposing that smart TV manufacturers and operating system providers allow only authorised applications on their devices and app stores.

The recommendations, released under the 'Authorisation Framework for Application-based Linear Television Distribution (ALTD) Services', aim to bring internet-based television distribution, including Free Ad-Supported Streaming Television (FAST) services, under a formal regulatory framework. According to Ministry of Communications, "The OEMs (including television manufacturers) and the OS providers should ensure that only authorised ALTD applications are made available through their devices and application stores." These companies would also be required to submit annual compliance reports to the Ministry of Information and Broadcasting (MIB).

Proposed Authorization and Licensing Structure

TRAI has recommended introducing ALTD services as a separate category under television channel distribution services within the authorisation framework of the Telecommunications Act, 2023. Under the proposed framework, application providers would be responsible for obtaining government authorisation and ensuring compliance with regulatory requirements. The Ministry stated, "The Application Provider has been recommended as the primary entity responsible for obtaining authorisation for providing 'ALTD Service' and for complying with the applicable authorisation framework."

Fees and Operational Validity

The regulator has proposed a one-time entry fee of Rs 1 lakh and an application processing fee of Rs 10,000. Authorisation would initially remain valid for 20 years and could be renewed for successive periods of 10 years. TRAI has recommended no authorisation fee, bank guarantee or security deposit, keeping the proposed framework relatively light for service providers.

Content Regulations and Consumer Protection

The regulator has also recommended that authorised applications distribute only television channels with valid government permission, authorisation or registration. "Authorised entity of 'ALTD Service' should distribute only the television channels holding valid permission/authorisation or registration from the Central Government," the Ministry noted. The proposed framework would also introduce a registration system for internet-native linear television channels and make application providers the primary point of contact for consumer complaints.

Integration with Viewership Ratings

In another significant proposal, TRAI recommended integrating viewership through these applications into the television audience measurement framework, bringing internet-based live television audiences into the broader TV ratings system. The recommendations follow a reference from the Ministry of Information and Broadcasting in December 2025, which sought a regulatory framework to ensure parity, content accountability and consumer protection for such services. The proposals have not yet come into force and would require government action to establish the authorisation framework. (ANI)

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India and Netherlands Explore Mechanism to Boost MSME Partnerships

Asianet News Central — Mon, 26 Oct 2026 19:21:11 +0530

Promoting Bilateral MSME Cooperation

India and the Netherlands may explore setting up a dedicated mechanism to connect micro, small and medium enterprises (MSMEs) from both countries and help them build business partnerships, Union Commerce and Industry Minister Piyush Goyal said on Monday. Speaking during an interaction at the India-Netherlands Business Forum in The Hague, Goyal said smaller businesses often face difficulties finding suitable international partners, unlike large companies that have established business networks.

"When the minister comes there, we'll explore whether we could look at a bridge that is focused on engaging MSMEs to work together," Goyal said in response to a question on strengthening bilateral cooperation between smaller businesses. He said such an arrangement could help enterprises identify potential partners and expand commercial cooperation between the two countries.

Strategic Industrial Partnerships

Strengthening Business Connectivity

"MSMEs are the ones who find it difficult to make the right connection," he said. Goyal noted that many smaller enterprises operate as suppliers and service providers to large companies, while others serve industries such as auto components, textiles and furnishings. He said closer engagement could help businesses from both countries benefit from their complementary strengths.

"We'll both discuss this issue and see how we can create some deeper connection between MSMEs so that you could forge partnerships," Goyal said. The proposal comes as India and the Netherlands seek to strengthen industrial cooperation following the elevation of bilateral relations to a strategic partnership in May 2026. The India-European Union Free Trade Agreement is also expected to create opportunities for businesses through improved market access and closer integration of supply chains.

Vision for Future Trade Relations

During his keynote address, Goyal highlighted the complementary strengths of the two economies and urged businesses to move beyond traditional trading relationships. "Our invitation to Dutch businesses is simple," he said, calling on companies to "co-create, co-manufacture, and co-invest between Netherlands and India." Goyal's Netherlands visit is part of efforts to deepen trade, investment and technology partnerships with European countries.

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Quick Commerce and Gen Z Propel India Electric Two Wheeler Expansion

Asianet News Central — Mon, 26 Oct 2026 17:41:26 +0530

Quick Commerce and Gen Z Drive Market Growth

New Delhi [India], October 26 (ANI): The rapid expansion of quick-commerce and changing mobility needs of Gen Z consumers in non-metro cities are creating new growth opportunities for India's electric two-wheeler market, according to a research report by Boston Consulting Group (BCG). The report, titled "Electric in Charge: How India's electric two-wheelers are moving into the mainstream," identified full-time quick-commerce and food-delivery workers, along with younger riders in non-metro cities, as two new consumer segments emerging over the past two years.

"The Indian two-wheeler consumer is changing rapidly, in just two years, not only have new segments emerged, but existing ones have evolved," said Ankur Jain, Partner and Associate Director at BCG, in the accompanying press release.

The Evolution of Delivery and Consumer Trends

According to the report, India's quick-commerce market expanded from approximately USD 0.75 billion in 2022 to USD 8 billion in 2025, growing at a compound annual growth rate of around 120 per cent. The expansion is creating demand for two-wheelers suited to frequent deliveries over short distances, with delivery workers prioritising affordability, speed and ease of movement. BCG found that 72 per cent of riders in this segment prioritised affordability, while 55 per cent considered speed important and 50 per cent valued manoeuvrability.

Shifting Preferences in Non-Metro Regions

The report also identified non-metro Gen Z riders travelling longer distances for work or education as another emerging segment. These consumers seek vehicles that combine attractive designs with reliability and the ability to handle poor roads. However, unlike delivery workers who have increasingly adopted electric two-wheelers, non-metro Gen Z consumers remain more cautious, particularly about vehicle performance on rough roads. BCG noted that around 60 per cent of young semi-urban consumers are now influenced by digital channels when purchasing personal vehicles, twice the level recorded in 2020.

Building for the Indian Rider

"The brands that will lead are the ones that build for how Indians actually ride, rather than for price bands alone, and that earn trust across the entire ownership journey, from service and battery assurance to insurance and resale," said Saurabh Chhajer, Managing Director and Partner at BCG.

Market Share and Future Outlook

The emerging demand comes as electric two-wheelers gradually gain market share in India. The report found that electric two-wheelers accounted for 9.9 per cent of overall two-wheeler sales during April-August 2026, compared with 5.5 per cent in FY24. Electric scooters' share of total scooter sales increased to 24.1 per cent from 16.8 per cent during the same period. Meanwhile, the proportion of consumers actively considering electric two-wheelers rose to 43 per cent in 2026 from 30 per cent in 2024. The findings are based on a 2026 survey of 1,600 two-wheeler owners and intending buyers across metro and non-metro India, compared with BCG's 2024 survey, alongside vehicle sales data from Vahan and the Society of Indian Automobile Manufacturers (SIAM) through August 2026. (ANI)

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Income Tax Department Steps Up Push for Foreign Assets Disclosure 2026

Asianet News Central — Mon, 26 Oct 2026 18:21:10 +0530

Income Tax Department Pushes for Foreign Asset Disclosure

The Income Tax Department has stepped up efforts to persuade taxpayers with undisclosed assets abroad to use the Foreign Assets of Small Taxpayers – Disclosure Scheme, 2026 (FAST-DS), a one-time opportunity to declare foreign assets and income not previously disclosed, Finance Ministry sources told ANI.

To help taxpayers, the Department has added a facility on the e-filing portal where they can view details of assets reported against their PAN by foreign jurisdictions under the Automatic Exchange of Information (AEOI), commonly known as CRS/FATCA. The data can be downloaded for the years 2022 to 2024.

Data Transparency and Outreach Efforts

Sources said the portal currently shows only information received from CRS/FATCA signatories. Data received under other multilateral frameworks has not been displayed because of risk factors and non-disclosure commitments, and the Department also gathers intelligence from other sources. At a high-level meeting on October 23, 2026, the Department decided that such information may also be shared with the relevant taxpayers, wherever possible, so they can take advantage of the Scheme.

It is learnt that the Department has recently nudged select taxpayers who have invested in residential or commercial properties in the UAE. The Department has also planned outreach programmes for taxpayers, corporates as employers, educational institutes, professional bodies and industry associations. The CBDT has set up a committee in each region under the Principal Chief Commissioner to help taxpayers resolve their queries and concerns.

Benefits and Terms of the Disclosure Scheme

Under the Scheme, eligible disclosures can be regularised within a fixed window by paying 30 per cent tax on the fair market value, plus an equal amount as a penalty. The process is fully online, trust-based and self-declaratory. A valid declaration gives immunity from further assessment, penalty and prosecution under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.

The Scheme also lets taxpayers report assets and income that have already been accounted for, on payment of a Rs 1 lakh fee. This avoids the Rs 10 lakh annual penalty prescribed under the Black Money Act. Around 1,100 taxpayers have filed applications so far. The Scheme remains open till December 31, 2026.

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Netherlands Targets Doubling Trade With India In Key Tech Sectors

Asianet News Central — Mon, 26 Oct 2026 19:21:10 +0530

Strengthening India-Netherlands Bilateral Trade

Netherlands’ Minister for Foreign Trade and Development Cooperation Sjoerd Sjoerdsma has said he wants India-Netherlands trade to double as soon as possible, identifying semiconductor cooperation, port connectivity and green transport corridors as key areas for expanding bilateral economic ties. Sjoerdsma said the potential for economic cooperation between the two countries was substantial and pointed to the semiconductor industry as an important driver of future growth. “The potential is almost unlimited, and I would like to see it double as soon as possible,” he said.

Strategic Semiconductor Partnership

Highlighting the Netherlands’ strength in semiconductor technology, the minister cited Dutch company ASML and its cooperation with India’s Tata group as an example of the opportunities emerging between the two countries. He said the combination of India’s semiconductor ambitions and Dutch technological expertise could create a major new dimension in bilateral economic relations. “We all know, looking at the tremendous potential within India when it comes to the semiconductor industry, if we look at the tremendous quality and innovation that we can provide, this partnership can be huge,” he said.

Logistics and Green Transport Infrastructure

On strengthening logistics links, Sjoerdsma said the Netherlands was already engaged in intensive cooperation with several Indian ports, including through collaboration with the Port of Rotterdam. He said both countries depended significantly on the movement of goods and would pursue opportunities to deepen port-to-port links and develop green transport corridors. “Wherever we see the possibility to tie our ports to ports in India, to deepen our relationship, to ensure green corridors of transport, we will do so,” he said.

The minister added that concrete steps could follow Union Commerce and Industry Minister Piyush Goyal’s recent visit to the Port of Rotterdam.

Deepening Political and Commercial Ties

Sjoerdsma also underlined the importance of political trust in expanding commercial engagement, saying relations between India and the Netherlands were at an all-time high. He said he was pleased to meet Goyal and had accepted the Indian minister’s invitation to visit India in January next year. “We’ll be happy to bring our companies to India again because we, just as your minister is bringing Indian companies to us, know that we stand to benefit from our relationship,” he said.

Sjoerdsma said Dutch innovation and Indian talent and skills offered a strong foundation for deeper cooperation across industries. The two countries are seeking to expand economic engagement across technology, trade and logistics, alongside broader efforts to strengthen India-EU commercial ties.

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Netherlands Minister Says EU Will Not Renegotiate Carbon Border CBAM

Asianet News Central — Mon, 26 Oct 2026 19:21:12 +0530

EU Maintains Stance on Carbon Border Adjustment Mechanism

The European Union’s Carbon Border Adjustment Mechanism (CBAM) will not be renegotiated, Netherlands’ Minister for Foreign Trade and Development Cooperation Sjoerd Sjoerdsma has said, while acknowledging the difficulties businesses in India and other countries face in complying with complex regulations. Sjoerdsma defended the mechanism as necessary to ensure that countries adhere to the objectives of the Paris Climate Agreement, while highlighting the Netherlands’ efforts to help small and medium-sized enterprises understand and comply with the rules.

“I don’t think there will be any renegotiation of CBAM because we view it as a necessary measure to ensure that we stick to the goals that the entire world agreed to, the goals of the Paris Climate Agreement,” he said.

Addressing Compliance Challenges for Small Businesses

The minister acknowledged concerns over the complexity of the requirements, particularly for smaller businesses that may lack the resources to navigate extensive regulatory guidelines. “We do see, of course, the difficulty in some of these guidelines. Some of them are quite complex to follow, and if you have a small company, you have a lot of other things to do than just read all those guidelines,” he said.

Sjoerdsma said the Netherlands was investing in helping small and medium-sized enterprises in countries such as India understand European regulations and make compliance easier. “We’re helping these people out,” he said.

EU Regulation Strategy and Trade Impact

The minister also said that while the European Commission was pursuing a broader deregulation agenda, regulations designed to protect consumers, product quality, climate objectives and product safety should be retained. However, he favoured reviewing rules that unnecessarily hinder trade. “Where there are rules that are not necessary, where there are rules that hinder trade unnecessarily, of course, we need to look at them when it comes to regulation,” he said.

His remarks come as Indian exporters assess the implications of the EU’s carbon-related trade requirements and seek greater access to European markets. The issue is likely to remain significant for India-EU economic engagement as both sides work towards implementing their proposed free trade agreement.

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Meta Plans USD 95 Billion Capital Raise for Data Centers and AI Growth

Asianet News Central — Mon, 26 Oct 2026 19:21:14 +0530

Meta's Financial Strategy for AI Development

To fund its AI push, Meta Platforms said it will raise up to USD 95 billion in equity for data centers, cloud computing and related infrastructure. It announced the launch of concurrent underwritten public offerings consisting of depositary shares and Class A common stock tied to forward sale agreements, forming an initial USD 35 billion tranche of a broader multi-billion-dollar financing strategy. Meta is also preparing a future at-the-market offering of roughly USD 60 billion upon the start of trading of its planned Class C common stock, bringing the total to USD 95 billion.

According to Meta, under the current plan, the tech company offers 250 million Series A depositary shares representing interests in newly issued Series A Mandatory Convertible Preferred Stock, valued at approximately USD 12.5 billion, alongside USD 22.5 billion of Class A common stock offered through forward sale structures. The substantial capital push supports escalating artificial intelligence investments and compute requirements, with Meta expecting USD 135 billion to USD 145 billion in total capital expenditures for 2026.

Driving AI Innovation and Growth

“AI is creating significant opportunities for Meta across its core business and new products and services,” the company stated in its release. “Meta's AI investments are already generating tangible returns through increased engagement, improved advertising performance and increased monetization,” the firm noted, adding that it is expanding data capacity to bring personal superintelligence to users globally.

Operational Performance and Infrastructure

The company plans to cover these outlays through operating cash flows, investment-grade debt, strategic tie-ups, and equity markets. Meta recorded USD 97 billion in operating cash flow across the first nine months of 2026, maintaining USD 82 billion in cash and marketable securities at the close of the third quarter, while revenue rose 26 per cent year-on-year to USD 64.6 billion with a net income of USD 9.9 billion.

The development follows recent strategic expansions in artificial intelligence and physical digital assets. Earlier in October, Meta introduced its Muse Wonder and Muse Wonder Full models to tackle complex professional and personal workloads. Meta reported 3.64 billion daily users across its family of apps as of September 2026, alongside initial traction for its Muse platform, which drew over 10 million users across the United States and Canada during its rollout phase.

The company maintains data facilities in 23 American states and is constructing four gigawatt-scale superclusters to nearly double total computing capacity over the year. “Muse Wonder is a major leap towards delivering personal superintelligence for everyone,” Meta CEO Mark Zuckerberg stated on X regarding the model release. Earlier in July, Meta also secured USD 14 billion dollars alongside BlackRock to construct a dedicated data center complex in El Paso, Texas, where BlackRock-managed funds hold an 80 per cent interest and Meta retains 20 per cent under a shared cost commitment.

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S&P Global Warns of Potential Global Food Price Surge by Year 2027

Asianet News Central — Mon, 26 Oct 2026 17:41:14 +0530

Global Food Prices and Potential Economic Pressures

Global food prices could rise further in 2027 amid increasing fertilizer and farming costs, coupled with potential El Niño-related weather disruptions, with the impact likely to become more evident over the coming months, however, the full impact on food will take time to appear, according to a report by S&P Global. The report warned that an exceptionally strong El Niño could threaten agricultural production across major crop-producing regions, while shortages of fertilizer and diesel continue to put pressure on farmers.

Impact of Rising Farming Costs

“The impact on food will likely become much more apparent over the next few months as farmers wrestle with high costs and with shortages of fertilizer and diesel.” “Unlike changes in oil prices , which register immediately, the full impact on food will take time to appear. Farmers buy seed, fertilizer and fuel months before they sell a crop,” it said, stressing, “The squeeze now bearing down on farm budgets may therefore not reach food markets in force until 2027.”

Recovery and Global Market Challenges

According to S&P Global, fertilizer production is expected to recover gradually, allowing markets to stabilise. Higher crop prices could improve farmers' profit margins, encourage more land to be brought under cultivation and increase fertilizer use. However, the adjustment will take time, with consumers likely to face higher food prices before agricultural production and supply recover. “Commodities other than the basic staples will be affected by the El Niño, including cash crops that are important to livelihoods in many poorer regions,” it noted.

The Convergence of Agricultural Shocks

To describe it further, the report noted, global agriculture is facing pressure from rising fertilizer and energy costs, growing demand for biofuels and potential El Niño-related weather disruptions. It highlighted that fertilizer production depends heavily on natural gas, while diesel is essential for operating farm machinery, irrigation systems and transporting agricultural produce. Rising energy prices are therefore increasing production costs and putting pressure on farmers' profit margins. “As the conflicts in Europe and the Middle East have driven up diesel prices, biofuels become more attractive. The knock-on effect is that, in some regions, crops for fuel become more valuable than crops for food.”

What is unfolding is not a single agricultural shock, but the convergence of several shocks. Conflict is moving through fertilizer, energy and biofuel markets, raising costs and narrowing farmers’ choices just as an extreme El Niño threatens harvests. “An exceptionally strong El Niño, expected to peak in late 2026, acts as an environmental multiplier that threatens to unleash severe droughts and floods across key Asian, African and Latin American breadbaskets in 2027,” it said. The impact could be particularly severe in regions where crop productivity has already been weakened by insufficient fertilizer use over successive growing seasons. S&P Global also warned that global grain reserves remain at historically low levels amid the ongoing Ukraine war, leaving limited capacity to absorb simultaneous crop failures across multiple regions. Overall, “A global food crisis is not foreordained. But neither is it any longer a distant risk,” it added.

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